Bitcoin is the means to become rich in 10 years (depend on how much you can DCA)

[Promocodeudo]

Nothing is certain, so you cannot be sure that Bitcoin will make one rich in ten years if they invest $10k. However, for the past years Bitcoin has proved to be a good investment and a hedge against inflation. I wouldn't hesitate to introduce people to invest in Bitcoin because it has proved to be stable and dependable. But they would also have know the risks involved.

I will be a very bad decision to keep money in banks because inflation will make them lose value within few years. It might not be Bitcoin, but just ensure fiat should be invested in profitable ventures instead of keeping it in a bank.

Buddy nothing is certain as you said  but I think the op is relying on the history Bitcoin has created overtime and I think  he correct if he's relying on that to say Bitcoin is a means to become rich in the next 10years, we understand that a cycle is just about 4 years, for me I think the op seems to understand that anyone doing DCA or having long-term mindest can not say 4 years is a long term so I assume that the op knows that for an individual to atleast call him or herself a long-term investor such individual must at least do 2 cycles effectively.

Yea introducing people to Bitcoin is a good approach to create awareness as such increasing it's adoption but while doing this one must tell interested individuals that Bitcoin is not a quick money making scheme, they must abide by the concept and understand that whatever goal they want to set should be for a long-term because they may not be able to achieve whatever target they have in a short while, they should also understand that Bitcoin is a volatile asset as such they should expect fluntuation anytime but that will not be an issue since volatility favour favours either dip or upsurge.

Lastly new investors should be encouraged to make use of DCA method to accumulate Bitcoin reason being that with this strategy an investor wouldn't be bothered with the market situation at anything and also it allows every investor to invest with the amount they can afford  daily, weekly and monthly consistently and hodl for a long-term.
Yea allowing money to stay idle doing nothing in the bank isn't a wise approach rather investing money into realistic investments or long-term assets is the best.

[fuguebtc]

Even if we have witnessed already how profitable bitcoin is, still the future of bitcoin remains uncertain. So we can’t tell completely that investing in bitcoin could guarantee us to become rich in the future. This is the reason why we don’t have to force ourselves to invest in bitcoin, it’s never a compulsory but only a voluntary one.

However, if one decides to invest, it should be done using extra funds, not from using our hard-earned savings, so that if bitcoin suddenly loses its value in the future, our finances will never be greatly affected. DCA is a good and effective strategy, provided that you do it regularly regardless of the current price of bitcoin, and having risk management while you are still in the hodling process.

Admittedly, we all expect bitcoin to make us rich but many forget that the future is unpredictable and there are no guarantees. Many of us are making the mistake of believing that bitcoin will continue to grow in the future as it has been able to achieve in the past 15 years. Yes, it is possible, but we have no guarantee it will happen, and the opposite scenario is also possible. Many people are becoming too subjective and investing all their hard earned savings in bitcoin, which is worrying and alarming. This is not something to be proud of and the same advice should be given to others.

Yes, DCA and long term holding is the best approach but don't forget we should only use the amount we are willing to lose because anything can happen with bitcoin.

[fikrett]

Admittedly, we all expect bitcoin to make us rich but many forget that the future is unpredictable and there are no guarantees. Many of us are making the mistake of believing that bitcoin will continue to grow in the future as it has been able to achieve in the past 15 years. Yes, it is possible, but we have no guarantee it will happen, and the opposite scenario is also possible. Many people are becoming too subjective and investing all their hard earned savings in bitcoin, which is worrying and alarming. This is not something to be proud of and the same advice should be given to others.

Yes, DCA and long term holding is the best approach but don't forget we should only use the amount we are willing to lose because anything can happen with bitcoin.

It will probably continue to grow, but not as fast as we think it might.
Nothing wrong with that, we would still be able to have good boons from doing things we do with BTC and watch our investment grow naturally.
And I would put it like that - if something that bad (which you mention in your last paragraph) happens to Bitcoin, what can be said about the others?

[Free Market Capitalist]

Invest only $10,000 in Bitcoin for 5 years, and you will make decent profits from it, but when you keep the $10,000 in your bank account for 5 years, you cannot use it to buy what you will use the money invested in Bitcoin to buy because the fiat value has depreciated. But the $10,000 invested in Bitcoin will yield profits, and you can use it to buy what you want to buy.

I don't know if anyone has stopped to crunch the numbers but for the 5 years you say here, while it would be a good amount, it's nowhere near what you can get if you invest $10K and hold out for 10 years. If we assume an average return of 50% per year that's over $1M. Instead in 5 years it is just over $100K. Such is the magic of compound interest.

[FortuneFollower]

Invest only $10,000 in Bitcoin for 5 years, and you will make decent profits from it, but when you keep the $10,000 in your bank account for 5 years, you cannot use it to buy what you will use the money invested in Bitcoin to buy because the fiat value has depreciated. But the $10,000 invested in Bitcoin will yield profits, and you can use it to buy what you want to buy.

I don't know if anyone has stopped to crunch the numbers but for the 5 years you say here, while it would be a good amount, it's nowhere near what you can get if you invest $10K and hold out for 10 years. If we assume an average return of 50% per year that's over $1M. Instead in 5 years it is just over $100K. Such is the magic of compound interest.

Some people would maybe need to cash out at least some of their funds accumulated quicker than in 10 years, but of course - the more time would pass, the better would be the result.
It's sounds pretty simple, yet many still choose something not as stable as Bitcoin as their main way to invest their funds..

[Hewlet]

Invest only $10,000 in Bitcoin for 5 years, and you will make decent profits from it, but when you keep the $10,000 in your bank account for 5 years, you cannot use it to buy what you will use the money invested in Bitcoin to buy because the fiat value has depreciated. But the $10,000 invested in Bitcoin will yield profits, and you can use it to buy what you want to buy.

there is going to be some sort of argument when you consider that $10k worth of investment might not be a feasible amount for the average poor man that is hoping to get richer by either saving or investing the little amount he has managed to put aside that in most instance might be less than $2k. this is the same reason why w continue having the rich getting richer while the poor are getting poorer or remained stagnated due to the lack of capital and resources necessary for effective investment.

of all the available means of becoming rich, investing looks like what is associated with those that are already rich and that are just looking out for ways of diversifying their wealth or storing it such that the effect of inflation and economic downtime doesn't get to affect them. for those set of people, bitcoin investment is the surest way to go but for someone that is starting from he zero level, the main thing that will lead to the kind of wealth that will see you to investing and doing so with a reasonable amount will be to get a good skill, develop yourself in it, invest maximally in yourself and when returns starts coming from the self investment, you can then start to invest in an asset like bitcoin. failure to setting the foundation right and proceeding to investing just in an asset when you don't have a good system that can sustainably generate the fund for the investment might lead to utter disaster.

[betswift]

^ Anybody can start DCAing BTC. It's just the fact that each result of said investment would be different, related to so many factors that were already discussed here.
Surely, if one can hold Bitcoin, no matter the amount, responsibly, he would be able to get good boons from it. And the difference would be only in the scalability of profits.

[Solokan]

it is true that by saving money in the bank it will certainly be exposed to inflation and of course our money in the future, such as the next 5 years or 10 years, will be less valuable because its value will decrease due to inflation, which is definitely different from BTC because BTC has now been proven to always make money and shape ATH new and the price always continues to rise from time to time. I am very happy that you made this topic which tells the benefits of investing in BTC for those who don't know how tempting investing in BTC is and of course for beginners who want to invest in BTC if you see this topic, you will definitely easy to understand really this is a good topic op.

but of course there will always be risks in investing in BTC, but of course only money that is ready to be lost is worth using to invest in BTC, but yes, it is very true that we can become rich if we invest in BTC with a large amount of money used to buy BTC. but if the money is small it will certainly be difficult to get rich from BTC investments unless the investment is long term for example 30 years.

[john_egbert]

it is true that by saving money in the bank it will certainly be exposed to inflation and of course our money in the future, such as the next 5 years or 10 years, will be less valuable because its value will decrease due to inflation, which is definitely different from BTC because BTC has now been proven to always make money. ath is new and the price always continues to rise from time to time. I am very happy that you made this topic which tells the benefits of investing in BTC for those who don't know how tempting investing in BTC is and of course for beginners who want to invest in BTC if you see this topic, you will definitely easy to understand really this is a good topic op.

but of course there will always be risks in investing in BTC, but of course only money that is ready to be lost is worth using to invest in BTC, but yes, it is very true that we can become rich if we invest in BTC with a large amount of money used to buy BTC. but if the money is small it will certainly be difficult to get rich from BTC investments unless the investment is long term for example 30 years.

If you will hold your BTC appropriately - all will be fine, no matter how much you hodl.
You won't become rich in a swift moment, as in any thing that is related to risk / reward ratio.
it's just the fact the Bitcoin is the best out there in terms of what choose from.

[Su-asa]

Invest only $10,000 in Bitcoin for 5 years, and you will make decent profits from it, but when you keep the $10,000 in your bank account for 5 years, you cannot use it to buy what you will use the money invested in Bitcoin to buy because the fiat value has depreciated. But the $10,000 invested in Bitcoin will yield profits, and you can use it to buy what you want to buy.

I don't know if anyone has stopped to crunch the numbers but for the 5 years you say here, while it would be a good amount, it's nowhere near what you can get if you invest $10K and hold out for 10 years. If we assume an average return of 50% per year that's over $1M. Instead in 5 years it is just over $100K. Such is the magic of compound interest.

Some people would maybe need to cash out at least some of their funds accumulated quicker than in 10 years, but of course - the more time would pass, the better would be the result.
It's sounds pretty simple, yet many still choose something not as stable as Bitcoin as their main way to invest their funds..

Yes. It's simple to say but hard to keep, and maintain sure that if one can be very disciplined, one can achieve their goals in the 10 years of holding Bitcoin. However, some folks will probably withdraw part of their funds within one circle, but it's really essential to continue holding for longer terms, because the more days/years one holds and accumulates Bitcoin in his portfolio, the more profitable his investment becomes. Although 100% profits is not guaranteed on investments, but I am certain that one can get an 80% profit from Bitcoin investment if done for long term.

[BenCodie]

This thread may have been true 10 years ago, however given economic conditions now and projected over the next 10 years, Bitcoin will likely just preserve the wealth that you have made from your hard work, with some juicy interest on top, rather than make you rich (comparatively to other assets/fiat, due to inflation).

And it will take more time to make the same money that individual invested 10 years ago. Although we can argue that it's not too late to invest in Bitcoin, although it might be take us more years to make a lot of profits specially for the majority of us here we are just average investors or retail investors.

Yes and no. Work smarter, not harder as they say. With AI, making a mint might take some time and hard work, but it can be done a lot more efficiently than it might have in the past. It's never too late to protect yourself from devaluating currency (by holding bitcoin over fiat (nfa)), though yes, it might take longer or might not be possible to do what a 2015 - 2025 investor could have done/did.

This thread may have been true 10 years ago, however given economic conditions now and projected over the next 10 years, Bitcoin will likely just preserve the wealth that you have made from your hard work, with some juicy interest on top, rather than make you rich (comparatively to other assets/fiat, due to inflation).

But if we are willing to grind out hard just like the investors 10 years ago then why not?

We can go and do DCA, be mentally strong and hope that nothing will happen to us that will require us to withdraw some of our holdings.

Life is a grind, with or without Bitcoin If you aren't willing to grind, you won't get anywhere. So either way, do it, and be thankful that Bitcoin can potentially help to make it worth more against weakening money!

This thread may have been true 10 years ago, however given economic conditions now and projected over the next 10 years, Bitcoin will likely just preserve the wealth that you have made from your hard work, with some juicy interest on top, rather than make you rich (comparatively to other assets/fiat, due to inflation).

As for keeping money on bank? I don't even have a bank account, only my partner. But we have a lot of digital wallets already that functions a bank so I do not think that we will be needing them for the next 10 years.

Congrats on being bankless  Days are numbered on banks, definitely.

[mirakal]

Yes bitcoin could have the potentials to make us rich in the future but that doesn’t mean that we need to put all our eggs in a single basket. That could mean so much risks on our part. But if we chose to diversify our investments instead, like putting 60% of our money into bitcoin and 40% into some other selected assets, that would generate bigger profits from different sources, and achieving financial success and stability will be more secured than just focusing on bitcoin alone.

Bitcoin is our future, but at some point bitcoin is highly volatile and unpredictable, that’s why we need to secure our finances not just through bitcoin but also from diversified assets as well, be it from gold, stocks, or real estate.

[ChiBitCTy]

God damn how many times to I have to read people on here giving financial advice whom shouldn't be.  There is no guarantee of anything you said happening here, none what so ever.  Bitcoin is also NOT a replacement for the stock market, I've done an extensive write up on this several times. 

I really hope people don't take this stuff seriously but I know better as an FA.  Dont give financial advice if you're not licensed to do so, and don't take it unless the person giving it has been vetted as being able to do so.  smh.

[BitJannik]

I understand the appeal of btc as an investment especially with its potential for high returns and decentralization. However i think it is crucial to balance enthusiasm with caution. The crytpo market if highly volatile and while fiat currency is impacted by inflation btc can experience sharp price drops. I believe in diversifying my investments across different asset classes to spread risk and ensure financial stability

[SilverCryptoBullet]

Yes bitcoin could have the potentials to make us rich in the future but that doesn’t mean that we need to put all our eggs in a single basket. That could mean so much risks on our part. But if we chose to diversify our investments instead, like putting 60% of our money into bitcoin and 40% into some other selected assets, that would generate bigger profits from different sources, and achieving financial success and stability will be more secured than just focusing on bitcoin alone.

Bitcoin is our future, but at some point bitcoin is highly volatile and unpredictable, that’s why we need to secure our finances not just through bitcoin but also from diversified assets as well, be it from gold, stocks, or real estate.

Diversifying your capital is good, but make sure your capital allocation and diversification are made properly. If you diversify your capital to bad assets, it will bring loss, not profit.

Real estates are good assets but you can call it as liabilities too, but real estates are still better than stocks. Stocks are risky because you depend on those companies for profit of your stock investments. No guarentee about that, and between stocks and Bitcoin, I choose Bitcoin.

So if I diversify my capital, I will do it to three assets: Bitcoin, Gold and real estates.

[yhiaali3]

This reminds me of a story of a relative of mine who had saved about 25,000 in local currency about 10 years ago or more, it was equivalent to about $12,000 or a little more, I don't remember exactly.

He thought that its value would double a lot over time and he hoped to get at least $25,000, but after a few years the local currency collapsed and the amount he saved was only equivalent to $2-3 at most, this is funny even though it was a disaster for him, but I laugh because his thinking is like that of a child, he thought that the value of paper money could increase over time.

If he had bought Bitcoin or gold at that time, he would have gotten many times what he hoped for.

[Kelward]

No doubt Bitcoin is one of the best investments that anybody can put their money into, it's unlike most other reputable assets that you need a lot of money to start. This means that no matter your class in the society so far you're earning a steady income you can DCA for the long term and make huge ROI. Very important to note that Bitcoin is a hedge against inflation because it is decentralized meaning that governments does not control it and it has a finite supply meaning that it's minting can not be manipulated. Bitcoin has proven it's potentials over the years as a store of value and investors can hodl it for profits on the long term.

[betswift]

You're right about inflation eroding the value of fiat currency over time. That's one of the reasons i see bitcoin as an alternative but i also remind myself that it's not a guaranteed solution. Bitcoin works best as part of a broader portfolio where its high risk nature is offset by safer investments like index funds or real estate

Bitcoin is a high-risk investment for you?
Buddy, you came to the wrong place then  
It's the safest investment out there, in the crypto space at least, clearly, and it has much more potential than many other paths out there.

[Frankolala]

Invest only $10,000 in Bitcoin for 5 years, and you will make decent profits from it, but when you keep the $10,000 in your bank account for 5 years, you cannot use it to buy what you will use the money invested in Bitcoin to buy because the fiat value has depreciated. But the $10,000 invested in Bitcoin will yield profits, and you can use it to buy what you want to buy.

Fiat currency is vulnerable to inflation and Bitcoin is a store of value which makes it the opposite. However, using $10000 to invest in bitcoin is not a guarantee that you will be profitable in 5 years' time, because bitcoin investment is not 100% guaranteed and risk free. It's just that if you invest in bitcoin and grow your bitcoin invest regularly to a good size, there is a high odd that you will make profit in the long run than losses because bitcoin is stilll growing.

[Darker45]

It seems it's a bit awkward to describe Bitcoin as a "means to become rich". That certainly isn't the reason why Bitcoin is created. That's how it is aggressively marketed though everywhere in the internet.

As an investment, however, it has so far shown that it is indeed a great option, at least as far as ROI is concerned. But its past experience cannot guarantee that the next 5 or 10 years will be equally profitable.

As a matter of fact, I don't think Bitcoin investors today should look at the past as a basis for its profitability. That would be misleading. Bitcoin could grow x10 in the past within a year. Today, at $100,000, it could hardly even double.