Will owning 0.01 BTC really make you rich?

[Upgrade00]

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why?

No, it will not. 100BTC would not make you rich either as the purpose of bitcoin was not to grow wealth, but as a medium of exchange which does not require a third party. The value started from zero, so it naturally had to increase to reach its actual worth; hence the speculative value. This does not mean the price of bitcoin would keep rising exponentially forever, I believe it would instead experience reduced volatility and balance out at a certain value with time.

0.01BTC is a huge sum now for many and could get significantly higher, but simply hodling bitcoin would not make you rich.

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[titular]

This is a question of perspective and perspective only.

If bitcoin somehow surpasses $1M per coin, then 0.01 btc will only land you $10,000. If you are a person living in a third-world country, that 10k may classify you as "rich". That picture changes when you are in a more developed country. That same 10k in the United States will seem like a whole lot less.

My point is, you need to figure out what you classify as "rich" and then see what that 0.01 btc can do for you.

[The Cryptovator]

The problem is there is no end to the future. We can't ignore that we can become a millionaire with 0.01BTC. Because we don't know what will happen after 50 years. Although there is no guarantee that we will be alive for more than 50 years, if Bitcoin exists during that time then we can expect that we would become rich and millionaire as well. Everything is possible in cryptocurrency. It would dump as well, we can't ignore that's also. Because Bitcoin is a volatile cryptocurrency pump or dump that would happen at any time. Same like we can't predict exactly but we can expect.

[Zilon]

Yes indeed owning 0.01btc can make you a millionaire if you can be patient enough to hold on to your coin following the high volatility rate of Bitcoin and how much investors are trooping into Bitcoin causing a high demand in the crypto asset. Achieving this with 0.01btc would determine how patience and discipline you can have when it comes to investment

[dothebeats]

Just look at how other people in the early days were able to make millions with the minimum investment that they had for bitcoin. Also, the masses still appreciate bitcoin more and more, and it still receives quite a lot of attention from deep pockets making it a viable investment still. But for your specific question, depends mainly on how much bitcoin climbs. Your 0.01 bitcoin might make decent profits, but still not enough to consider you as a rich person from where you are at.

Or the opposite could happen and bitcoin goes to nil the very next day. Who knows?

[Slow death]

What do you think? Is it really possible to become rich with 0.01 BTC in the future?

this is impossible, if we look at the price of bitcoin and realize that it is impossible

If not, why?

because we would have to have a very high capitalization market to the point that it would not be possible to take money from all over the planet to buy bitcoin for the price to reach 10 million dollars

[Ryker1]

Yes indeed owning 0.01btc can make you a millionaire if you can be patient enough to hold on to your coin following the high volatility rate of Bitcoin and how much investors are trooping into Bitcoin causing a high demand in the crypto asset. Achieving this with 0.01btc would determine how patience and discipline you can have when it comes to investment

Well, I would say --not now.
It could make you rich when bitcoin becomes more expensive like after another 10 years of existence and that year maybe you are rich enough.
That amount also can be used as your capital in trading, it could make sense if you are going to manage yourself for being massive losses.
Just hold it now and forget for a while, soon you will be rich on that amount.

[Mahanton]

I've read a few articles on the web which indicated you could get rich with just 0.01 BTC. At first, it seemed crazy to me considering that Bitcoin is still below $1m. But then it started to make sense after knowing that the pioneer cryptocurrency was designed with deflation in mind. Each halving had a positive effect in BTC's price, so one would guess the next one will lead us to a BTC worth more than $100k. To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m. Prices are still volatile, so I'm having my doubts whenever I'd really become rich with just 0.01 BTC or not.

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

Possible but everything couldnt be predicted! We should be at least realistic when it comes to future goals because  we dont know on what would happen next because everything would really depending
or varying on the demand which simply means that dont anticipate on getting rich on having only 0.01 btc because considering on what would be the price of a whole coin with those fractions
then this is something a close to near impossible thing to happen thats why dont make your hopes up and stick and deal with the current trend as of this moment.

[mynonce]

What do you think? Is it really possible to become rich with 0.01 BTC in the future?

We don't know. But let's say someone asked the same question 10 - 12 years ago, then ...

Back in 2010, Joey Rich opened a thread http://bitcointalk.org/index.php?topic=987.0:

BuyBitcoins.com is back online.  Right now you can buy bitcoins with a credit card, or through paypal.  Currently 50,000 bitcoins are for sale at a rate of 15 bitcoins per dollar (0.077 dollars per bitcoin). Payments must be between $4 and $1000 dollars.

-Joey Rich
https://www.buybitcoins.com

50,000 BTC for sale - 15 bitcoins per dollar (0.077 dollars per bitcoin)

... like you, he/she would have invested ~100 USD and had bought 1500 Bitcoin.

If he/she asked that question 'Is it really possible to become rich with 1500 BTC', back in 2010, what would be the answer?
But most of them (BTC owners) sold at ~10 USD per Bitcoin.

[Issa56]

I believe if you are having that kind of amount, I believe currently you should be financially fine am talking about my country I don't know about other countries because our living standard is just kind of different and I believe if you can leave 0.01btc for few more yeass then you will be very rich.

[Natalim]

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

That is possible...Like if Bitcoin price will reach $1million, if converted to our local money, I can be a billionaire that time, who actually knows, right?

But not actually makes sense, for now, it can be far from happening but in regards to having 0.01BTC in your control, it was not enough to make you rich if you just hold them. Maybe if you use this to run for a business, that comes to possible but if not, it won't multiply on its own and it remains 1.01BTC till you decide to sell or add more.

[bhooscream]

What do you mean?
$100m? DO you know how much is that if compared to my fiat?
Maybe you mean $100.000 ($100k), not $100m?Actually, rich is dependable on who you are. If you are exactly rich people, 0,01BTC will not mean many things. But for the other people, it may be huge enough and enough to call themselves as rich. And it will also depend on in what country you are living.
However personally, I am not sure that owning the 0.01BTC means we are rich or we can be rich.
It needs more steps and also amount to call us as rich, and we may not need to acknowledge ourselves to be rich but other people will do it.
And if we are willing to use it for investment or trading to earn more profits, it means that we need something to work on this and get more and more profits to start being rich as we like.

[Shasha80]

I believe if you are having that kind of amount, I believe currently you should be financially fine am talking about my country I don't know about other countries because our living standard is just kind of different and I believe if you can leave 0.01btc for few more yeass then you will be very rich.

Every country does have a different standard of living, if we live in third world countries, looks like having 0.01 BTC can already do a lot.
At least 0.01 BTC can be used for business capital, and if we use it well, we can become rich people. So after all Bitcoin can indeed help
the economy of many people, then for some poor countries it is not necessary to have 1 BTC to be rich. That is why it is very important
to collect Bitcoin according to our respective finances, in order to collect and improve our respective economies. Therefore, the popularity of
Bitcoin is increasing every year, because Bitcoin is proven to be able to create new rich people. The conclusion is how much Bitcoin we have,
if used properly will open up opportunities to become rich people.

[maju69]

I can define what being rich means to me, but I can't draw the conclusion that being rich according to other people. Which "Rich" fits the specs? Because everyone is different in the same content, but of course in terms of the standard of thinking of course in this case in the sense of "rich".

[bitterguy28]

If bitcoin in the future reached 1 million dollar value then 0.01 bitcoin will be 10 thousand dollars in which in some country that is a Big amount already and can give a good funds for starting business in real life.
But in our recent situation this amount does not bring luxury instead this is a Small amount to start with.
and if this will be valuing more than a million then no wat that someone will oppose that you will be rich then having this amount .

[riso2015]

human nature will never be satisfied with what he has, if he already has 1 coin, surely he will want 2 coins, that is human nature, which is always greedy and always not enough, if you say if we have 0.01 btc can we be rich, if according to my answer personally it depends on when we have bitcoin, if you have bitcoin in the past ten years maybe your life has improved, but not rich, but if you want to buy now most likely you will not be rich, because the price of bitcoin will never go up high like the price you buy now..

[rozak]

human nature will never be satisfied with what he has, if he already has 1 coin, surely he will want 2 coins, that is human nature, which is always greedy and always not enough, if you say if we have 0.01 btc can we be rich, if according to my answer personally it depends on when we have bitcoin, if you have bitcoin in the past ten years maybe your life has improved, but not rich, but if you want to buy now most likely you will not be rich, because the price of bitcoin will never go up high like the price you buy now..

it all depends on how he manages the 0.01 BTC he has. if it only lasts for 1-2 years, I don't think it will get any bigger in that time. especially if he just started this year. Thinking of getting rich quickly will certainly be difficult.
another possibility, he can exchange his 0.01 BTC. in simple skills should be able to acquire even if small for every day. and that can make the assets owned continue to grow. most importantly he knows when to enter and exit a trade

[jhonjhon]

Well, i think it is possible to become rich with 0.01btc and hold it for maybe 7 to 10 years from now. And you always have to consider rising prices as time marches on. It is also depend not only on your expecation but also on your age because we dont know what will happen next. Life is unpredictable. So live practically. Its not about being rich, just enough to live comfortably.

[Poker Player]

As the OP does not specify a time horizon, I answer no. 0.01 Bitcoin given a long time may become a good fiat equivalent, but at that point fiat will be highly devalued. Then we would have to see what is meant by "rich", but I would say that for that 0.01 Bitcoin would have to be equivalent to $1M today, and I do not see it. Apart from the fact that, as stompix says, this would mean 5 times the total global wealth, so no.

[Chato1977]

It will take 10 or more years before that amount cover a 1 million dollar value so NO, this will not make you richer in the years coming.

but if we are talking generally in no time zone ? then of course if bitcoin reach a billion dollar value in the many years ? then yes we will be rich .