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

[john_egbert]

^ Things are seen through such lenses today, mostly, and it cannot be avoided.
Surely, BTC was created for a different reason, but people are still after that "magic wand" effect from it.
And it won't change. Even if its volatility is not what we've seen in the past.

[jcojci]

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 agree with that because when you save your money in bank, you will not make a profit. You need to pay many costs that the bank apply. Even if you can make a profit in a year, that will not worth because the interest will be too small. Bitcoin offers people to make a profit in 5 years so that is attract many people attention to join and invest their money in Bitcoin.

If they can check the DCA method, they will see that they will have a chance to accumulate Bitcoin using the same amount of money. They can buy Bitcoin with the allocation money monthly so they can have more and more Bitcoin as their investment.

[Finestream]

DCAing with bitcoin for 10 years may potentially make us wealthy but that won’t give us 100% guarantees since there are various risks that could trigger and may distract our focus from doing DCA. The first factor would be bitcoin’s price growth and its volatility. Good thing if bitcoin price continues to set for its new all time high, but due to its volatility, bitcoin price may suddenly subside and that would bring us negative outcome if ever. Next is, market sentiment and adoption, and since bitcoin’s future is still unclear and uncertain, DCAing with bitcoin may not be push through.

While DCAing with bitcoin may encourage us to buy bitcoin even at a wrong timing, but it’s crucial to stay cautious with our bitcoin investment since any time of the day, high volatility may happen. Just invest what we can afford to lose, that’s the safest way so we won’t be losing and regretting in the end.

[Josefjix]

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.

It could even more be worse that Bitcoin price would depreciate pass it's current value in the next 6 years because the market is unpredictable, it took some couple of years to be where it is now and it's going to take longer time too to either move upwards or downward. Moreover, I don't think getting bigger balance on Bitcoin makes you rich because during bear season, all would definitely depreciate and loss value.

Cashing out at certain price will eventually stop your richness except you already have what brings in more income consistently.

[Lucius]

~snip~
This is one of the most important reasons. If you invest in Bitcoin, you can make a 100% profit from it, mostly when you invest in the long term. Investing in Bitcoin will also give you the advantage of learning a skill, skills like trading and investment. IMO, with Bitcoin investment, you can also control your finances.

People who invest in BTC are not necessarily those who will trade with it, especially if it is a long-term investment - and many simply invest and then wait for a favorable opportunity to sell. It also raises the question of whether people consider 100% profit to be a positive thing considering that huge sums of money are invested in altcoins with the obvious intention of making much more profit.

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.

That amount invested over 5 years might result in a small fortune for someone if the price at the end of that period is x5 compared to today - but for someone living in the Western EU, US or UK, that is not an amount that means much. However, you should define what being rich means to you (or someone else) - because I started investing in BTC about 10 years ago when it was only worth a few hundred $ - and even with everything I've accumulated in that period, I can't consider myself rich considering where I live.

It is true that BTC offers an opportunity to anyone who is looking for an alternative to investing in gold, shares or something else entirely - but it is also true that such investment is still high-risk, not only because of the volatility of the price, but also because of the risks arising from the security aspect.

Few people know how to store their coins safely, and just one wrong step means you could lose everything. That's a risk you have to live with if you invest for the long term.

[betswift]

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.

Expectations shouldn't be too high, especially for those new in the Bitcoin space.
Once they are adjusted to the reality due to how big Bitcoin became, all should be fine, because the targets put would be real to achieve too.

[qurbanshah02]

^ Things are seen through such lenses today, mostly, and it cannot be avoided.
Surely, BTC was created for a different reason, but people are still after that "magic wand" effect from it.
And it won't change. Even if its volatility is not what we've seen in the past.

Well, everything has a purpose just like the creation of bitcoin must have a purpose but we will not have that reason, because of which we do not know why it was created.  Yes it can be called as such because it has developed enough that no other coin has done so that it can be called a magic wand.   He has also been watched because everyone is amazed to see his progress, so he has been watched from the beginning to the end because of which everything about him has been seen up and down.

[hero_the_bossman]

^ Things are seen through such lenses today, mostly, and it cannot be avoided.
Surely, BTC was created for a different reason, but people are still after that "magic wand" effect from it.
And it won't change. Even if its volatility is not what we've seen in the past.

Well, everything has a purpose just like the creation of bitcoin must have a purpose but we will not have that reason, because of which we do not know why it was created.  Yes it can be called as such because it has developed enough that no other coin has done so that it can be called a magic wand.   He has also been watched because everyone is amazed to see his progress, so he has been watched from the beginning to the end because of which everything about him has been seen up and down.

If it's a magic wand that is not giving you free money - yeah, maybe it can be called that, but it's no magic anyways, it is metrics and facts and values that it upholds to this day.
That's why BTC is where it is today.

[Su-asa]

DCAing with bitcoin for 10 years may potentially make us wealthy but that won’t give us 100% guarantees since there are various risks that could trigger and may distract our focus from doing DCA. The first factor would be bitcoin’s price growth and its volatility. Good thing if bitcoin price continues to set for its new all time high, but due to its volatility, bitcoin price may suddenly subside and that would bring us negative outcome if ever. Next is, market sentiment and adoption, and since bitcoin’s future is still unclear and uncertain, DCAing with bitcoin may not be push through.

While DCAing with bitcoin may encourage us to buy bitcoin even at a wrong timing, but it’s crucial to stay cautious with our bitcoin investment since any time of the day, high volatility may happen. Just invest what we can afford to lose, that’s the safest way so we won’t be losing and regretting in the end.

It might not give an investor a one hundred percent profit, but it's more like giving an investor an eighty percent profit if one can invest for the long term. A long term investment is safer than a short term investment because it reduces the investment risks more, especially when applied DCA method. However, even before creating this thread, I knew that a long term Bitcoin investment is more profitable than a short term investment. That's why I said this earlier 👇🏼

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.

Although not everyone can afford $10k because of financial issues, doesn't mean one can not invest with any amount they have. A Bitcoin investor can start up their investment at as low as $10 weekly or monthly with the DCA method.
And if they do it consistently, there's a possibility that they can make up to 80% or more in 5 years time or longer.

[Orpichukwu]

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).

I agree with you on this. Based on what I have observed, in time to come, little interest is the only thing you will benefit from Bitcoin for holding for a long time instead of expecting to get rich out of the action of buying and holding; it will only add millions to billionaire investors, and thousands to millionaire investors, and hundreds to thousand investors. Seeing 10 times will be hard to experience in time to come; it won't be able to turn someone into a rich person but will make the rich a bit richer.

[Marykeller]

No doubt, the DCA strategy is the best way to invest in Bitcoin if you want your financial status to change 10 years from now. 10 years from now, we don't expect Bitcoin to be below its current ATH. There will be potential growth to its price, and we will think of $1 million to be possible if countries go on with having Bitcoin as their national reserve.

For an investor who aims for financial freedom in years to come, starting now to Invest with the little you have by focusing on long-term investment should be the goal, and avoid listening to negative news that could influence their Bitcoin accumulation for the long term.

No investment that doesn't come with its risk. It's how you go about them that will give you the desirable profits in the long run. Money kept in the bank doesn't appreciate but instead depreciates in value when inflation comes

[Fiatless]

No doubt, the DCA strategy is the best way to invest in Bitcoin if you want your financial status to change 10 years from now. 10 years from now, we don't expect Bitcoin to be below its current ATH. There will be potential growth to its price, and we will think of $1 million to be possible if countries go on with having Bitcoin as their national reserve.

For an investor who aims for financial freedom in years to come, starting now to Invest with the little you have by focusing on long-term investment should be the goal, and avoid listening to negative news that could influence their Bitcoin accumulation for the long term.

No investment that doesn't come with its risk. It's how you go about them that will give you the desirable profits in the long run. Money kept in the bank doesn't appreciate but instead depreciates in value when inflation comes

Becoming rich through Bitcoin investment will also depend on how much the person is able to invest using DCA. The higher the amount you are able to invest within these years will determine your level of profit. DCA is a good means of acquiring Bitcoin but Lump sum buying can also be applied especially when the price drops drastically.

I will be willing to buy a large sum of Bitcoin if the price ever drops to $50k. However, with the rate of institutional investments and the popularity of the Strategic Bitcoin reserve idea, I doubt if it will ever drop to that price.   

[Asiska02]

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.

Bitcoin is always appreciating after a certain period of time, it doesn’t matter how long it has stayed in the bearish zone, when the time reaches, it always creates a new all time high, which is always higher than the previous one. So when investing in bitcoin, it always has some high tendency that it’s going to appreciate and make the investor some good amount of profits. This has been tested several times since the inception of it and that is what has brought about the bitcoin cycle where the bull run always takes place. It is better to invest in bitcoin than keeping your money in the bank. It’ll just deprecate more and won’t give you the value for your money back as the current state of things will annul that from happening.

[KingsDen]

No doubt, the DCA strategy is the best way to invest in Bitcoin if you want your financial status to change 10 years from now. 10 years from now, we don't expect Bitcoin to be below its current ATH. There will be potential growth to its price, and we will think of $1 million to be possible if countries go on with having Bitcoin as their national reserve.

For an investor who aims for financial freedom in years to come, starting now to Invest with the little you have by focusing on long-term investment should be the goal, and avoid listening to negative news that could influence their Bitcoin accumulation for the long term.

No investment that doesn't come with its risk. It's how you go about them that will give you the desirable profits in the long run. Money kept in the bank doesn't appreciate but instead depreciates in value when inflation comes

10 years seems far. With a good and consistent DCA investment, one bitcoin circle is enough to make you reach. Imagine that some started investigating in this circle when bitcoin was at $15k and today bitcoin is above $100k. That will be enough profit. Talking about ten years is two halving and two bull run, that will be a crazy profit. What we have forgotten to understand is whether the fellow will be able to earn steadily for 10 years in order to continue their DCA type of investment.

In the other hand, money in the bank is not even considered an investment. It is subjected to monitoring and inflation.

[hero_the_bossman]

While bitcoin's decentralized nature is definitely a strong advantage, i still consider its volatility and lack of regulation before investing. I feel that understanding the risks and staying updated on market trends is critical for making informed decisions. For me, investing in bitcoin is about long term gains and not rushing into it with all my savings.

The volatility of BTC is its curse and blessing.
We need to use it while we still can.

[MaxLevCoin]

Bitcoin's ability to provide high returns and global accessibility is a major plus for me but i also consider the unpredictability of the market. I think investing in bitcoin should come with a solid plan like setting clear goals and knowing when to cash out. It's not just about the potentials profits but also about managing risk and securing financial growth responsibly.

[betswift]

Bitcoin's ability to provide high returns and global accessibility is a major plus for me but i also consider the unpredictability of the market. I think investing in bitcoin should come with a solid plan like setting clear goals and knowing when to cash out. It's not just about the potentials profits but also about managing risk and securing financial growth responsibly.

Risks are everywhere, but with Bitcoin - these are minimal.
Just look at the market as a whole and you would see Bitcoin is the most stable option out there.

[Zigabel]

The whole Idea behind your post of trying to invest your money somewhere so its value gets to increase and you don't get to suffer so much and loose the value of your money to inflation which makes a lot of sense, but then using bitcoin as a point of getting rich probably as a scheme of getting rich which is a mindset we shouldn't have at the back of our mind so we don't get to venture into Bitcoin investment with the wrong mindset and idea which will later get to become so much of a problem to us and having a wrong perception about Bitcoin as its not a get rich venture but it can actually help you build wealth if properly approached.

[RockBell]

I agree that fiat currency's value can be eroded by inflation but i also recognize the role it plays in short term financial needs. While i do see the potential in btc, I keep some funds in fiat for liquidity and emergencies. To me, btc is more of a long term hedge economic instability not my sole investment strategy

Fiat is one of the things that's that have contributed to all the economic challenges because it's usually one issue or the other maybe there is excessive circulation or so many contractions but at this point now we have to decide exactly how to make proper use of fiat because you can be affected and when you are affected it won't make sense when you don't understand how to use gait because that is why some people are so stagnant about there situations.

And inflation is one of the factors that have been affecting fiat for a very long time because it's one of the enemies that fiat have been facing because a lot of countries are facing challenges of hikes in prices and inflation and every country is facing all this challenges, when you take bitcoin as an option to want to want to invest in the a reasonable decision to make.

Because if you invest you will be able to make money than just allow the money dormant in your account so it will be better to just invest than allowing it dormant.

[john_egbert]

The whole Idea behind your post of trying to invest your money somewhere so its value gets to increase and you don't get to suffer so much and loose the value of your money to inflation which makes a lot of sense, but then using bitcoin as a point of getting rich probably as a scheme of getting rich which is a mindset we shouldn't have at the back of our mind so we don't get to venture into Bitcoin investment with the wrong mindset and idea which will later get to become so much of a problem to us and having a wrong perception about Bitcoin as its not a get rich venture but it can actually help you build wealth if properly approached.

After all, all investments are there to get the boons out of them.
Nothing wrong with wanting to profit a bit from your BTC investment along the way, but we shouldn't forget what BTC stands for and why it was created.