Steps to owning sats

[sunsilk]

Those people that don't own bitcoin thinks like this. They're also scared of asking people to own bitcoin when they've known that they've once said something bad against it.

This is the beauty of bitcoin that it's not really a requirement to own 1 bitcoin but you know what, this is becoming the plan and the goal of the majority. To at least own 1 bitcoin.

[m2017]

Save or collect 0.01BTC and you are a Satoshi millionaire. Isn't it something to be proud of? 0.01BTC is still in reach of everyone.

Probably everyone in their heart wants to become a millionaire. 0.01BTC is a great opportunity to feel like one. Satoshi millionaire sounds proud and greatly. You can brag to your friends about your "countless" wealth.

For now, Satoshi millionaire sounds funny, but in the future there may come times when Satoshi millionaire will really be a rarity and this title will be honorary and the envy of others.

It's not too late yet, because 0.01BTC is worth ~230$. This is the current price of Satoshi millionaire title.

[Lucius]

For now, Satoshi millionaire sounds funny, but in the future there may come times when Satoshi millionaire will really be a rarity and this title will be honorary and the envy of others.

I would not agree that satoshi millionaires will be a rarity in the future, because Bitcoin has existed since 2009 and many people had the opportunity to buy it, as they have the opportunity to buy it today. A few hundred $ to achieve this will not change much even if the price of BTC is x5 or x10 in the future, just as probably no one will get rich from owning 0.01 BTC.

Yes, but I think it's a very safe assumption. I get how most people wouldn't get the importance if you mostly just communicate on Bitcointalk(because I guess Bitcointalk is slightly smarter than mainstream social media), but I personally talk to a lot of newbies interested in crypto and it's scary how much people say "I bought xxx because it's still cheap and hopefully someday it will reach bitcoin's price".

I stopped telling people what to do with their money a long time ago, and that includes any cryptocurrency advice. If someone thinks they will profit from buying coin X or Y, so be it, everyone is responsible for their actions. As I said before, people are mainly there for profit and they are not interested in Bitcoin because of what it represents.

[KingsDen]

Save or collect 0.01BTC and you are a Satoshi millionaire. Isn't it something to be proud of? 0.01BTC is still in reach of everyone.

Probably everyone in their heart wants to become a millionaire. 0.01BTC is a great opportunity to feel like one. Satoshi millionaire sounds proud and greatly. You can brag to your friends about your "countless" wealth.

For now, Satoshi millionaire sounds funny, but in the future there may come times when Satoshi millionaire will really be a rarity and this title will be honorary and the envy of others.

It's not too late yet, because 0.01BTC is worth ~230$. This is the current price of Satoshi millionaire title.

I like the phrase Satoshi millionaire. O haven't heard it from anywhere else though, I am not sure if it's originating from this forum such that Hodl did originate from here. About becoming a satoshi millionaire with few hundred dollars, it will still make the person become a satoshi millionaire because a few hundred dollars will not become real time millionaire when converted to fiat. But it is important that everyone owns some fractions of bitcoin, it could become very huge in the future.

[Mpamaegbu]

Save or collect 0.01BTC and you are a Satoshi millionaire. Isn't it something to be proud of? 0.01BTC is still in reach of everyone.

In 2017, that used to be weekly payment for Full Members in signature campaigns. I know senior rank got paid around 0.012btc to 0.018btc weekly in regular campaigns. It was worth around $100 or slightly above it then.

This thread is not about steps to owning Sats. The title does not refer to what's being talked about in the OP, and vice versa.

At some point, I thought I was the one who missed the point in the OP. Glad to know that someone else noticed what I thought too.

You don't have to buy a specific amount of Satoshis, either. You just have to buy what your money can afford.

That's the way I look at it too. I don't pile up pressure on myself for wanting to own Bitcoin. Just buy when you feel you've free cash to spare.

[BitcoinGirl.Club]

Save or collect 0.01BTC and you are a Satoshi millionaire. Isn't it something to be proud of? 0.01BTC is still in reach of everyone.

In 2017, that used to be weekly payment for Full Members in signature campaigns. I know senior rank got paid around 0.012btc to 0.018btc weekly in regular campaigns. It was worth around $100 or slightly above it then.

Before that there were campaigns that used to pay 0.1 BTC or more 😉
It's always the dollar value against the BTC you get.

For some reasons if BTC drops under $1k (God dammit it's not gonna happen) then a Legendary receiving 0.1BTC a week will not be surprising at all. I will love it 🤣

[mk4]

I stopped telling people what to do with their money a long time ago, and that includes any cryptocurrency advice. If someone thinks they will profit from buying coin X or Y, so be it, everyone is responsible for their actions. As I said before, people are mainly there for profit and they are not interested in Bitcoin because of what it represents.

Totally get what you mean. But it's undoubtedly a net positive for this world (and markets) in general if people in general would be less attracted to these "cheap" shitcoins.

People who lose money investing in crap are stupid, and maybe they deserve it, and maybe it's also a needed lesson. But it ain't fun seeing some people(or idiots) lose their life savings by buying shitcoins.

[nakamura12]

This is very helpful for newbies who just got to know about bitcoin. When they heard about bitcoin they always think that bitcoin is not cheap for some people and didn't know that it is not necessarily to buy 1 bitcoin when you can buy less than a bitcoin which is why the op shows that there is a smaller unit of bitcoin the same as fiat where there are coins. There is a person I know that I asked why he didn't buy Bitcoin and his answer is buying bitcoin is not cheap and it will cost me a lot of money so I told him that you can buy smaller amount since bitcoin have smaller unit called satoshi.

[m2017]

For now, Satoshi millionaire sounds funny, but in the future there may come times when Satoshi millionaire will really be a rarity and this title will be honorary and the envy of others.

I would not agree that satoshi millionaires will be a rarity in the future, because Bitcoin has existed since 2009 and many people had the opportunity to buy it, as they have the opportunity to buy it today. A few hundred $ to achieve this will not change much even if the price of BTC is x5 or x10 in the future, just as probably no one will get rich from owning 0.01 BTC.

Yes, you are right, x5 or x10 will not make you a millionaire in the short term. This is approximately $1,000-2,000 for 0.01 btc. Even if 10k-20k$ is still far from being called a millionaire. But I had in mind a slightly different time period, which I should immediately clarify. I spoke about the distant future, in 100-200 years, when even 0.01 btc can become an impressive value. Of course, holding bitcoin for so long is pointless because of the length of life and if not considered as a legacy for distant descendants. So, from a rational and practical point of view, your version is better than my futuristic one.

Also, one should not exclude such a possibility (a little from the category of fiction) that in the future, due to some event or incident (bitcoin-apocalypse), most of the bitcoin may be lost (we can’t say anything without the “magic crystal ball”) and then, the community will have to be content with a smaller number of btc and even a modest 0.01BTC will look like a lot.

I like the phrase Satoshi millionaire. O haven't heard it from anywhere else though, I am not sure if it's originating from this forum such that Hodl did originate from here. About becoming a satoshi millionaire with few hundred dollars, it will still make the person become a satoshi millionaire because a few hundred dollars will not become real time millionaire when converted to fiat. But it is important that everyone owns some fractions of bitcoin, it could become very huge in the future.

This title will allow to amuse pride and vanity, and can also become a worthy gift for great-grandchildren, as I said above.

[RILWAN]

I stopped telling people what to do with their money a long time ago, and that includes any cryptocurrency advice. If someone thinks they will profit from buying coin X or Y, so be it, everyone is responsible for their actions. As I said before, people are mainly there for profit and they are not interested in Bitcoin because of what it represents.

Totally get what you mean. But it's undoubtedly a net positive for this world (and markets) in general if people in general would be less attracted to these "cheap" shitcoins.

People who lose money investing in crap are stupid, and maybe they deserve it, and maybe it's also a needed lesson. But it ain't fun seeing some people(or idiots) lose their life savings by buying shitcoins.

Shitcoins are scam and i don't feel negative when people lose their money in shitcoins when they can actually own a satoshi why go for other coins that don't have reliability? An altcoin is a total waste of time.

[CryptocurencyKing]

Just came across this on Reddit and thought it will be helpful here.

Source:
https://www.reddit.com/r/Bitcoin/comments/w85wvx/guide_to_stackin_sats/?utm_medium=android_app&utm_source=share

Jus to note, its not as easy as the photo presents. A look at it and one could think, it's just a step through and yeah, it really is a step through but don't forget, before you probably move to the next one (1) in that 0.000... series, you have to move 10steps in that position and then you could archive on. Same way with the current position which is also a multiple of the previous and so the chain reaction continues.
It's not entirely easy but that shouldn't stop someone from trying. You could continue to try, buying the most you can when you can and as time goes on, you would be amazed as to how much you've accumulated.

[khaled0111]

People use or prefer to use BTC and mBTC not because they are not aware of the existence of sats but rather because using the former makes things easier (less zeros).
Besides, the dust amount is 546 for legacy addresses and 294 for segwit. So, you can't really buy amounts smaller than that (unless you're going to use the lightning network). And we should not forget the transaction fee which is probably gonna cost more than the amount to be sent.

[RILWAN]

I also use to make similar satoshi mixup before until i realized and learn how it all works, then i use to think one have to earn the entire one Bitcoin which seems to be too expensive to me until i discovered i can actually own the smallest bits.

[Lucius]

Shitcoins are scam and i don't feel negative when people lose their money in shitcoins when they can actually own a satoshi why go for other coins that don't have reliability? An altcoin is a total waste of time.

Not that I disagree with you, but you have to understand that a lot of people try to profit by investing very little to buy a lot of something that they would like to sell at least x100 price. In a small percentage it can even succeed, but these are pump&dump schemes orchestrated by the owners of these shiticoins and people close to them.

It is said that people learn best from their mistakes, and I always hope that many will learn that way. Unfortunately, there are always some new and naive players who continue the game, and because of this, more and more people try to sell their project as the real one that will generate a lot of money for everyone who invests at least a few $.

[hd49728]

Not that I disagree with you, but you have to understand that a lot of people try to profit by investing very little to buy a lot of something that they would like to sell at least x100 price. In a small percentage it can even succeed, but these are pump&dump schemes orchestrated by the owners of these shiticoins and people close to them.

They want to buy lottery tickets and get rich easily. It is as same as lottery, you will hardly win a lottery but it is still very small chance. The matter is after you win a lottery ticket, will you whether be able to secure the big money you win? Will the win make your life better?

Most of loterry winners lose their money fastly. Their lives even become worse after they go poor again. They can have big debt that they did not have before a lottery win. In addition, they can lose their wife or husband, their whold family too. So if I can choose, I would like to avoid such lucky win.

Same to get rich quickly by betting in cryptocurrency, you will repeat that bet style again and again. In the end, you net of loss will be bigger than your net of profit. Poor in the end.

It is said that people learn best from their mistakes, and I always hope that many will learn that way. Unfortunately, there are always some new and naive players who continue the game, and because of this, more and more people try to sell their project as the real one that will generate a lot of money for everyone who invests at least a few $.

They realize they made mistakes after losing money but they think they are  genius by doing the same but get profit fortunately. They repeat it again and unfortunately lose money again. So they do the same many times but blame on luckiness for their win or loss.

[DdmrDdmr]

I also use to make similar satoshi mixup before until i realized and learn how it all works, then i use to think one have to earn the entire one Bitcoin which seems to be too expensive to me until i discovered i can actually own the smallest bits.

That’s a shared experience by many. This likely happens a fair share when people live on the outskirts of bitcoin, but as soon as one takes the first steps to look into actually purchasing some BTC, beyond looking at the chart/price ratings, one soon discovers the fractions.

Actually, this misconception has been going on for ages, and if we dig deep enough on this forum, I’m sure we’d find some interesting posts on the matter, bearing in mind though when reading them that the context is now different than way back (BTC price, number of Exchanges, volume of information out there, number of people in the market, etc.).

For example, this thread from 2013 dealt with the matter at hand (with BTC just over 500$ then):

The public needs to know this.

More than *three* people have told me recently they "missed out" on the Bitcoin thing because "Bitcoin is $550 now and too expensive".

Nobody realizes they can buy partial coins.

I realize this has been discussed already but I want a thread front and center on the general forum, so that people researching bitcoin see it and internalize it.

I truly believe if the general public doesn't realize they can buy 0.005 BTC and still make a profit, they wont buy at all, and that is going to adversely affect the success of the market.

Right now is when the general public is thinking of hopping on board.

How can we get the word out?

The exchanges must update their websites as soon as possible to make buying BTC in partial amounts a more obvious thing.

Im going to PM Olaf from Coinbase about this right now... i think its severely important for continued purchases.

True but who wants 0.01 of a btc? haha

[RILWAN]

I also use to make similar satoshi mixup before until i realized and learn how it all works, then i use to think one have to earn the entire one Bitcoin which seems to be too expensive to me until i discovered i can actually own the smallest bits.

That’s a shared experience by many. This likely happens a fair share when people live on the outskirts of bitcoin, but as soon as one takes the first steps to look into actually purchasing some BTC, beyond looking at the chart/price ratings, one soon discovers the fractions.

Actually, this misconception has been going on for ages, and if we dig deep enough on this forum, I’m sure we’d find some interesting posts on the matter, bearing in mind though when reading them that the context is now different than way back (BTC price, number of Exchanges, volume of information out there, number of people in the market, etc.).

For example, this thread from 2013 dealt with the matter at hand (with BTC just over 500$ then):

The public needs to know this.

More than *three* people have told me recently they "missed out" on the Bitcoin thing because "Bitcoin is $550 now and too expensive".

Nobody realizes they can buy partial coins.

I realize this has been discussed already but I want a thread front and center on the general forum, so that people researching bitcoin see it and internalize it.

I truly believe if the general public doesn't realize they can buy 0.005 BTC and still make a profit, they wont buy at all, and that is going to adversely affect the success of the market.

Right now is when the general public is thinking of hopping on board.

How can we get the word out?

The exchanges must update their websites as soon as possible to make buying BTC in partial amounts a more obvious thing.

Im going to PM Olaf from Coinbase about this right now... i think its severely important for continued purchases.

True but who wants 0.01 of a btc? haha

Exactly alot of works have been put in to obstically explain the subject matter with relevant data and statistical data to back their information up, the timing may have changed a lot but that information is still very much relevant to the contemporary discussion.

[Ojima-ojo]

We will never know if you are right, unless at some point everyone would agree and start showing the amounts exclusively in smaller denominations - although I think that most people would still not resist buying 1 xxx coin for the same price instead of 0.0001 BTC. The problem, if we can call it that at all, is that everything revolves around possible profit, and everyone wants as many coins as possible at the lowest possible price, and they don't really care what they buy.

As for the market cap, it is a real illusion that more or less all altcoins sell successfully - and if all altcoins were limited to 21 million coins, only then we would see how much they are worth compared to Bitcoin.

Yes, but I think it's a very safe assumption. I get how most people wouldn't get the importance if you mostly just communicate on Bitcointalk(because I guess Bitcointalk is slightly smarter than mainstream social media), but I personally talk to a lot of newbies interested in crypto and it's scary how much people say "I bought XRP because it's still cheap and hopefully someday it will reach bitcoin's price".

I have never fallen between that presumption that any other coin will be worth like Bitcoin, I have never had any trust in altcoins because altcoins are created out of a Ponzi idea with just a promise of giving a 10x return without any variation to support such a claim of shitcoin reaching Bitcoin.


Some of them even go as far as having the mentality to be a replacement for Bitcoin, which is far from actualization Bitcoin will continue to be king among others.

[batang_bitcoin]

I have never fallen between that presumption that any other coin will be worth like Bitcoin, I have never had any trust in altcoins because altcoins are created out of a Ponzi idea with just a promise of giving a 10x return without any variation to support such a claim of shitcoin reaching Bitcoin.


Some of them even go as far as having the mentality to be a replacement for Bitcoin, which is far from actualization Bitcoin will continue to be king among others.

I have that mindset before but looking at some, very few of the projects in altcoins. They've got something to offer not just for being a token or coin but use cases for which companies can use and apply for their businesses. Although, I don't like the idea of it and just want to stay focused into bitcoin. The opportunity has gotten wide for a few of them but it doesn't matter if you've been a bitcoin maxi and that's totally fine. But those altcoins that made their developers think that they're going to surpass bitcoin, I'm with you on that. They're crazy to think that they can surpass the king.

[GeorgeJohn]

Bitcoin can be owned in bits and I must say one does not have to own 1 Bitcoin, but then this will lead us to another question of what amounts of satoshi can be spent and what amounts are referred to as dust amounts.

Just see Bitcoin as fiat money despite that it's a decentralized currency, in fiat currency you can have as your ability reach to have fiat currency, because it's obvious that it's not every body that knows about bitcoin, and having Bitcoin it's dependable by your capacity or capability of your funds, so therefore it's not everyone is big man and it's everyone will be opportune to secure 1bitcoin.