Days you need to work your ass at minimum wage for a BTC, by country

[hatshepsut93]

I don't think it's possible for unskilled worker to immigrate to the competitive country, they must be skilled in foreign language first. If they only have hard work, discipline and willing to be paid with minimum salary, it's not enough as there's a problem with the communication.

You're describing legal immigration, but illegals often barely even know the local language and get employed precisely because they are illegals and might work for below minimum wage and without any extra perks, or even in unsafe working conditions.

With the current modern era, I think the best is you live in your country or somewhere that has a low lifestyle and become a freelancer that your client are from foreign country. This make you get a high payment with a low spending.

What is "best" really depends on individuals capabilities. The truly talented people should move to a country with the best opportunities like the US, because even though the cost of living might be high, the net gain would still be worth it. For others freelancing is indeed the best choice. But even being a good enterprenuer in a developing country could be more profitable than that.

[1715065231]

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[1715065231]

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[carlfebz2]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

Those are assumptions basing up on such condition and not really trying out to apply on just relying with your minimum wage income on getting a whole coin which we know that its never been that simple nor cant just be even possible.Its true that we could be able to accumulate or get 0.1 instead of a whole coin or simply could purchase or buy on satoshis which is something that much lesser than on a whole coin and at the same time you arent that stressing yourself that much.

Just like some people been saying that numbers wont really be that precise or accurate considering that there are factors like expenses or others which it would really be totally lessening out the overall amount
for you to be able to buy a certain amount of coin and there are unexpected things happen about spending which it would greatly affecting those numbers but in overall
on assuming that there would be no such deductions then those would really be that somewhat considerable.

[erep]

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries.

Actually calculating only nominal GDP is ineffective because the calculation ignores all expenses for living expenses, bills, transportation and others, rationally they have to add up 2x the number of days needed to buy 1 btc of the minimum wage each month, the risk of a low minimum wage will be difficult to allocate funds for savings and even they have to go into debt to meet living expenses for the next half of the month.

The majority of workers who can invest in crypto have additional work so they have large savings to invest, but if we live in a high minimum income country we can invest half of our monthly income or at least every 2 months for investment if we have income from other additional jobs.

[dansus021]

Damn my country got rank 86 with 4,471 days  of working 12.2 Years damn My age would be 37 to have single bitcoin  and dont forget about the price because bitcoin keep rising so gaining single bitcoin would be hard as fu*k 

I just hope can have a single Bitcoin in my life  it seems impossible for now to get one.

Tho in the past, I can accumulate more than 5 when bitcoin is only 400$ now it woule be very very hard to get one

[rikybrosh]

people who only have fixed income in minimum wage maybe live in low quality life, but it's depend on each country. some people may need to buy cheap daily necessities although the quality is low in order save money to buy something that they need beside of daily necessities. for example maybe they need to buy smartphone, laptop or vehicle. it seems that it is so difficult for them to have a BTC, even buy some satoshi is not so easy for them. but at least they have a job. maybe the answer is to take bigger risk in trading, although join pump and dump market may make them lost their money but it is also provide them opportunity to grow their money, maybe at least in altcoin trading they can earn 3% - 17% profit in day trading depend on their skill. of course they may lost 3% - 17% as well. knowledge is really important.

[Wind_FURY]

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156

Luxembourg Australia New Zealand Germany United Kingdom Ireland Netherlands France Canada Monaco Belgium San Marino South Korea Israel Austria Slovenia Spain Japan United States of America Andorra Taiwan Malta Lithuania The Bahamas Poland Greece Oman Hong Kong Macau Portugal Saudi Arabia Argentina Barbados Slovakia Czech Republic Romania Estonia Latvia Croatia Palestine Saint Kitts and Nevis Montenegro Hungary Antigua and Barbuda Palau Costa Rica Turkey Bulgaria Belize Ecuador Jordan Lebanon Uruguay Chile Trinidad and Tobago Marshall Islands Bolivia Paraguay Morocco Bosnia and Herzegovina Guatemala Colombia Panama Albania South Africa El Salvador Serbia Turkmenistan Seychelles Gabon Vanuatu Fiji Thailand Mexico Dominica Brazil Peru Ukraine Philippines Equatorial Guinea Malaysia Russia People's Republic of China Dominican Republic Mauritius Indonesia Azerbaijan Honduras Republic of Macedonia Kosovo Saint Vincent and the Grenadines Jamaica Kuwait Cambodia Papua New Guinea Iraq Guyana Tunisia Republic of the Congo Botswana Moldova Armenia Algeria Mongolia Laos Vietnam Comoros Nepal Nicaragua East Timor Chad Pakistan Iran Libya Uzbekistan Haiti Mauritania Lesotho Solomon Islands Nigeria Benin Afghanistan Central African Republic Kazakhstan Ivory Coast Cameroon Togo Burkina Faso Kenya Eswatini Myanmar Senegal India Angola Niger Mali Bhutan Sri Lanka Zambia Sierra Leone Mozambique Ghana Uganda Guinea-Bissau Madagascar Malawi Tajikistan The Gambia Democratic Republic of the Congo Bangladesh Tanzania Kyrgyzstan Syria Cuba Sudan Venezuela

341 345 350 371 405 435 439 451 454 455 456 514 522 556 630 641 661 677 726 735 915 974 996 1,003 1,009 1,018 1,067 1,091 1,098 1,102 1,141 1,223 1,239 1,257 1,261 1,265 1,387 1,543 1,548 1,568 1,579 1,714 1,718 1,733 1,755 1,782 1,823 1,840 1,872 1,982 2,025 2,038 2,052 2,055 2,373 2,632 2,690 2,700 2,740 2,773 2,791 2,823 2,867 2,952 2,983 3,000 3,033 3,193 3,336 3,373 3,380 3,388 3,401 3,528 3,554 3,746 3,807 3,831 3,862 3,922 4,109 4,138 4,145 4,191 4,314 4,471 4,497 4,525 4,529 4,538 4,549 4,559 4,563 4,704 5,249 5,292 5,434 5,475 5,621 5,665 5,815 6,128 6,162 6,190 6,322 6,882 6,900 7,185 7,271 7,935 8,436 8,495 8,774 9,367 10,519 10,799 11,151 11,454 11,736 12,153 12,659 12,762 13,337 13,739 13,826 13,949 14,465 14,600 15,598 15,778 15,847 15,962 16,246 16,516 16,846 17,776 17,980 18,159 18,372 19,043 19,909 25,289 25,704 26,578 29,122 41,165 41,321 43,281 49,773 51,651 52,392 67,593 114,063 248,864 842,308 1,095,000

Compare with the countries with the highest inflation rates and notice the numbers in Venezuela, Sudan, and Syria.

Top 10 Countries with the Highest Inflation Rates (Trading Economics Jan 2022)

Venezuela — 1198.0%[/b)
Sudan — 340.0%[/b]
Lebanon — 201.0%
Syria — 139.0%[/b]
Suriname — 63.3%
Zimbabwe — 60.7%
Argentina — 51.2%
Turkey — 36.1%
Iran — 35.2%
Ethiopia — 33.0%

https://worldpopulationreview.com/country-rankings/inflation-rate-by-country

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

[BlackHatCoiner]

Besides not using that money and living with God knows what as you're saying, you also have to assume that:

• the minimum wage will not change (lol).
• you will still be working at the same place (double lol!).
• the bitcoin price will not change until you manage to accumulate one (triple lol!).

Also, in Greece the minimum wage is 780 EUR, so I'm not quite sure how you calculated 1,018 days. I find more than 1,150.

[Plaguedeath]

You're describing legal immigration, but illegals often barely even know the local language and get employed precisely because they are illegals and might work for below minimum wage and without any extra perks, or even in unsafe working conditions.

Well that's make the immigrant is more harder to survive and get a worthy salary, so illegals or unskilled workers must not travel to developed country.

What is "best" really depends on individuals capabilities. The truly talented people should move to a country with the best opportunities like the US, because even though the cost of living might be high, the net gain would still be worth it. For others freelancing is indeed the best choice. But even being a good enterprenuer in a developing country could be more profitable than that.

Of course "best" is depends on individuals, but we should refer to ordinary people where they're not the best in something, they're just either enough or near enough. What do you think about those mediocre people who want to get better salary? it's working on McDonald is enough to change someone life from poor country?

[stompix]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?

Well a .010 BTC goal would just make the stats /x10 and keep the same.

All statistical data can turn to be useless if you think it's not taking into account every aspect. For example, let's add rent, but why add rent if people live in a country with 90% homeownership? Let's add food costs but what about the ones that grow their own crops?
How can we even define the minimum needs others have and from this how can we expect what their goal is as it would be different for each individual not by country?

It's a funny stat, I like it because we always talk about Bitcoin crashing and ending up working for McDonald's instead of buying our island so this is a glimpse at what's waiting for anyone relying on it!

he best way to get 1 BTC is to get a lot of fiat first, and how to do that is something that everyone has to figure out themselves, because everyone is in a different country and has different starting conditions.

But you can agree that's far easier for someone in the US to get his hand on 30k than from a guy in Madagascar!

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

And maybe that you have to also get out of that country just as fast as inflation rises?   

Also, in Greece the minimum wage is 780 EUR, so I'm not quite sure how you calculated 1,018 days. I find more than 1,150.

Data is from 2022 and was expressed in $, so taking into account the euro was stronger that's why the difference now since I made the target in $ also. The same parity shows now a minimum wage in Greece of 809$ euros if we backtrack but use the current exchange rate.

[JayJuanGee]

Thank you very interesting study. Glad I'm fourth to last.
At least I'm not in the last place!!! This is really encouraging.
According to the numbers, I need 114,063 days, which is equivalent to about 312 years.

This means that if I start collecting my wages from today and hand over the task to my children and then to their grandchildren, we will get after about five generations (if we assume the average age is about 70 years) on 1BTC, of course, if the price of Bitcoin remains at its current price.

Although it's very frustrating for me, at least the rest of the members who live in other countries will feel optimistic compared to me.

Generations are considered to be around 20 to 30 years.

https://en.wikipedia.org/wiki/Generation#:~:text=A%20generation%20refers%20to%20all,and%20begin%20to%20have%20children.%22

So if we average that range (to 25 years), then 312 years would be 12.5 generations.

This is so great, this is the data sheet we all didn't know that we needed haha. So currently working 3 years at minimum wage will earn you one coin assuming the market stays the same.  So make 3 times and much and do it in 1 year!!! Work harder making double and do it in half a year!!! Just gotta figure out how to increase your earnings. If there is a will there is a way! I am still trying to figure out how to do this myself haha

On a personal level, try to get jobs that earn more than minimum wage, and other ways to improve your income.

I understand that some people have more opportunities to earn wages as compared with others, and sometimes we might not recognize/appreciate some of our opportunities or realize how to spend our time - in terms of learning new skills that might allow us to be able to seek higher paying employment..

[tjtonmoy]

Wow, I have no words to say here. I am from Bangladesh and in that long list, it's on number 150. The minimum wage here is approximately 8000 BDT per Month which is $74 (+-).

51,651 days for one Bitcoin. LOL. That's 142 years. I'm not sure if I'm gonna live 42 years late alone 142! Gotta put my children and grandchildren all together at work in order to get one Bitcoin. This truly explains how life could be. It is not easy and not the same for everyone. This has clicked a switch in my brain. Do not look at successful people and think you can become successful just the way they did. Create a formula that suits your environment and situation. Find the right path that will lead you to your success. If you just copy someone else, their life won't match yours. There will always be differences.

Gotta work hard till I can reach that point where people will look at me and say, "I want to become successful like him".

[Oilacris]

Besides not using that money and living with God knows what as you're saying, you also have to assume that:

• the minimum wage will not change (lol).
• you will still be working at the same place (double lol!).
• the bitcoin price will not change until you manage to accumulate one (triple lol!).

Also, in Greece the minimum wage is 780 EUR, so I'm not quite sure how you calculated 1,018 days. I find more than 1,150.

Numbers wont really be that accurate and just like on what others been saying on this thread that there would really be factors which arent that constant just like on what you have said about
price of Bitcoin would neither be going higher or cheaper with that particular accumulation span, plus having the risks on having that job forever isnt that possible on some circumstances and
salary amount could neither change up or not plus been mainly affected by inflation plus deductions of those expenses on which in overall you cant make out calculations basing up
on what you do earn. There's so much deductions on several key areas which it would really be longing out the duration and those numbers would be more than on what
on OP stated.

In the end, we could still able to accumulate Bitcoin on smaller parts and wont really be that necessary on getting a whole but its not really that bad on having a target something like this
on minding about getting a whole coin but the ways and methods or duration would really be varying on each person.

[Sayeds56]

I understand that some people have more opportunities to earn wages as compared with others, and sometimes we might not recognize/appreciate some of our opportunities or realize how to spend our time - in terms of learning new skills that might allow us to be able to seek higher paying employment..

You have touched upon an important aspect of socioeconomic inequality and personnel growth. Indeed, people's access to opportunities and resources can greatly influence their ability to earn higher wages. The factors those contribute to this disparity include education, geographical location, their skill level and above all market demand.

In summary, recognizing and appreciating opportunities, we have to be proactive in seeking personnel and professional growth can help individuals progress toward higher paying jobs. Simultaneously, it is equally important to address systematic errors on broader level for fair distribution of opportunities.

Earning one Bitcoin, in most of developing countries for a middle-class person, it is an arduous task and may require him to work for many years to generate sufficient saving to achieve this ambitious goal.

[Dickiy]

I'm happy with this thread because it seems interesting and here I will represent my own country, namely Indonesia. For a salary below this minimum it is quite difficult, even to dream of earning BTC. This is quite interesting because I have to fight every day working without a day off and even sacrificing rest time to work part time to earn BTC. What's more, in my area the minimum wage is below average, it seems difficult to earn some BTC if we stay in the same position doing nothing to supplement our income and relying solely on paid work from a few companies. Even though the condition is very small in terms of opportunity to be able to buy BTC, I will never give up on saving because I believe this is an investment that will save me when I get old and one day I will be able to sell some of my BTC at the highest price.

[Sayeds56]

I'm happy with this thread because it seems interesting and here I will represent my own country, namely Indonesia. For a salary below this minimum it is quite difficult, even to dream of earning BTC. This is quite interesting because I have to fight every day working without a day off and even sacrificing rest time to work part time to earn BTC. What's more, in my area the minimum wage is below average, it seems difficult to earn some BTC if we stay in the same position doing nothing to supplement our income and relying solely on paid work from a few companies. Even though the condition is very small in terms of opportunity to be able to buy BTC, I will never give up on saving because I believe this is an investment that will save me when I get old and one day I will be able to sell some of my BTC at the highest price.

Your determination is very inspiring for all Bitcoin enthusiasts who persistently purchase Bitcoin even in small increments from their monthly savings, despite all constrains and challenges they face to generate some saving for investment in this valuable asset. Our strong faith in Bitcoin's potential to transform our lives in future keeps us confident and resolute in our investment journey despite daily fluctuations in its price.

[risingtide]

1 2 3 4

Luxembourg Australia New Zealand Germany

341 345 350 371

Well boys, I pick Australia.

Welcome to McDonalds mate, may I take your order?

[uneng]

When we check statistics like this we feel relieved for being on this Bitcoin journey for a long time already, since those times when BTC was pretty cheap, otherwise we would have to work for more than a decade yet to reach the same results we did in few months or 1-2 years on the early days.

On the other hand, for those who are starting just now, they shouldn't feel discouraged. It's possible that in some years you will have to work for two decades or more in order to acquire a single BTC coin. So, a decade doesn't look that bad at all for you who are starting your journey right now.

[ginsan]

If I assume that they receive the minimum wage that they don't use for other purposes then they can achieve their dream of owning 1 BTC in the estimated days that you have described. However, it is likely to be quite difficult for them if they do not touch the wages they get for their living needs such as paying taxes, paying rent for houses and all the things in the form of credit that they do. But I think everything is based on faith then someone will succeed faster in accumulating 1 btc in their portfolio such as Trading and becoming an early investor in the token sale. Apart from that, the source of surprise might be from the airdrop results which can be said to be up to $1k or more which is somewhat of a current hype such as Arbitrum and Optimism which they can use as side assets that will be used to buy BTC.

[JayJuanGee]

So, people earning minimum wage ...live from hand to mouth, they will never have the full amount available to buy Bitcoin. The best bet for them will be to get a second job and to use the full amount from that job to fund their first Bitcoin.

I agree with your overall sentiment regarding figuring out ways to increase your income, whether that is getting a second job or figuring out ways to increase the amount that you make.... not always easy without learning new skills - which surely it would be better to get paid while learning new skills, but not everyone is going to have those kinds of luxuries, especially if they might be wanting to switch industries or to get known for having skills in a kind of work that pays more than their current work.

Regarding getting a whole coin, that likely is not necessary, especially for people who live in parts of the world in which they are accustomed to lower costs of living, and even if they want to live in a western society with a decently strong western income, they might not even need a whole coin to accomplish that..

My latest chart (last revised on April 17, 2023) shows that fuck you status of around $2 million based on the 200-week moving average of an investment portfolio will likely be reached in around 20 years (in about 2043)... .so there are quite a few folks around the world that would not necessarily need $2 million in today's dollars to feel as if they reached fuck you status.. $2million generates a passive income of about $6,666 per month, and many people can get by comfortably on a way lower amount of passive income... maybe even less than $1k per month for some folks.. and still feel comfortable within their own expectations and feelings of comfort/luxury.. or having everything that they need/want.

Also ... you have worked with a fixed price... so if the price of a Bitcoin goes up, then people can sell their coins.... wait for the price to go down and then buy more Bitcoin from the profit. (this is what I have done and I reduced the time and money from my wages to get to that first coin.  

If your goal is to accumulate more BTC, then the best way to do that is to continue to buy BTC through DCA, lump sum and buying on dips.. and then perhaps HODL if you run out of money when you buy on dips but the dip keeps dippening.

It is very risky to be fucking around with selling BTC in order to accumulate more.. .. even though in theory and on paper it seems like it could work... but still risky in actual practice to fuck around with selling in order to accumulate more BTC when the better practices remain buying regularly and buying on dips.. or saving for dips... sure maybe once you get to a decently high level of BTC and maybe you are even way overly allocated in BTC, then perhaps it would be good to start shaving off some BTC as the BTC price goes up in order to prepare just in case it might come back down, but if it does not come back down, then that might be o.k. too in order to have had taken some cash out of BTC and perhaps just holding it for extra spending money, increasing your living standard, investing/diversifying into other assets, or whatever.. gives some flexibility to sell small amounts of BTC at various points, maybe 10% for every 100% the BTC price goes up or some kind of reasonable kind of raking of approach like is described in Rpietila's (Risto) (RIP) 2013 Thread entitled.:  (SSS) - A Sane and Simple bitcoin Savings plan

Just looking at the numbers making me feel that I'm one of the luckiest people on Earth that have managed to hold a quite some amount of Bitcoin up to the present.

While these minimum wages are likely the sum that one has to work for with the calculation of how many days it shall be saved. The deduction for the daily needs and survival, taxes and those monthly bills is likely make it hard to impossible for minimum wage earners to own a bitcoin.

I see this thread as an appreciation thread instead.

For sure, one of the advantages of having had gotten into bitcoin within the past 4-10 years would have had been that you may have had some time to accumulate BTC prior to the most recent price run up that started to happen in late 2020 and really we went from $10k to $69k back down to $15,479 and then to our current price of around $29k - which has not really made it easy to acquire a lot of BTC in the past 3 years or so.. And, in that regard, it would have been better to either get in early and to lump sum invest or just to get in early enough that most of your bitcoin acquisitions had taken place prior to the last run up.

Alternatively, people who are new to bitcoin at this particular moment do not have the luxury of being able to go back in time and to buy bitcoin at lower prices, so they have to figure out what they are going to do right at this moment based on information that is currently in front of them.  Buy or not to buy?  How much to buy?  how aggressive to be?  Are there ways to increase my income or to reduce my expenses in order that I can buy more bitcoin in such a way that is sufficiently aggressive, but not so aggressive that I end up recking myself?

It is terrible to see the number of days Africans would have to work in other to get one bitcoin. This is how the situations of the third world and developing countries are.  Really everybody can not be wealthy at the same time and there is even distribution of wealth in the society. Should we say the governments are doing their best or they are under performing which has resulted to this poor statistic as it shows the weak salary payment structure and minimum wage of each country listed here.

The reasons for wealth distributions around the world are complicated and frequently neither tied to merit nor are they zero sum game propositions.  There are a lot of ways that rich countries exploit and take advantage of poor countries, including that there are ways in which they are bullies and force monetary policies and even interfere with domestic production in order to create and perpetuate reliance and dependency relations.  

There could be ways that bitcoin can help to fix these matters, even though surely poorer countries will have quite a few disadvantages in terms of getting stakes in bitcoin, but that still should not deter them from creating policies to get bitcoin, just like individuals should still be striving to get bitcoin, even if poor people are more disadvantaged in their abilities to get bitcoin, but they also should have more incentives to get bitcoin - even though everyone rich and poor are becoming more aware of the power of bitcoin - but some rich folks, institutions and countries are still not recognizing and/or appreciating the power of bitcoin so anyone who gets started sooner rather than later will likely be advantaged over those people who are learning about bitcoin later (and who are acting on their knowledge later).. there are needs to act upon the knowledge that bitcoin is a good (if not the best investment currently available to everyone)... so the sooner you start actually investing into bitcoin the better, even if you are poor as an individual, institution or a government.

[rachael9385]

It's good to learn every day, and Moreover we aren't parfect on anything so the best idea is always keep our self busy because the more we work the more knowledge we aqure.
If we have a low income by month end you can live your country because their will not be enough money to do so, that's what everybody wanted, living your country to another is also called learning, the type of work you do depends the amount of Bitcoin you hold, op if you are saying this I don't think you have store enough Bitcoin.