Could Bitcoin change my life, or will it mainly change when I reach middle age?

[Free Market Capitalist]

This thread is a little late as we can see from the responses. It would have made much more sense years ago, when there were more spectacular returns. But back then, Bitcoin wasn't as established as it is today, and investing in it for the long term, without touching the investment for a long time, was something only visionaries would do.

[lizarder]

How do you approach Bitcoin from this position? What mindset makes sense for someone who earns modestly and builds slowly but consistently?

I appreciate you taking the time to read this, and I look forward to hearing your perspectives.

Bitcoin does not change anyone's life unless each person is willing to take the approach to financial freedom that he chooses and maybe I have experience with this because I have never before seen an investment asset that can make me achieve the freedom I have now. I view bitcoin as an investment asset so it is possible to invest in the long term and it may be easier to achieve value based on the capital I use for the investment. If you want to build a sustainable investment and have limited budget, perhaps you could try the DCA strategy so that whatever money you have you can buy bitcoin regularly.

Talking about investing in Bitcoin must also be balanced because it is impossible for you to invest small amounts that are not regular or consistent will lead you to achieve financial freedom as expected because asset growth is very dependent on a person's ability to collect even though they may not have large capital to start with but buying consistently with the available methods can bring someone to gain asset growth slowly and steadily.

[pr0phecy]

But apart from those $2,000 in bitcoin that you have and what you could save and invest, do you have an emergency fund? Do you have a stable job? For your investment in bitcoin to become significant and enable you to build generational wealth, you will need a lot of time. That is why it is better not to blindly put all your faith in bitcoin, but rather to have an emergency fund first, and then try to increase your income and/or diversify your income.

Using https://dcabtc.com/ I see that, according to what's happened the last 8 years, if you had invested $100 monthly you would have $40,000 today. So good but not life changing money.

Yes, I have everything you mentioned, and yeah I thought that the first step should be to increase my income.

You may likely fall for another MLM project scam and it is not a classic beginners mistake, there are beginners who did not fall victim of that and there are people who have had years in Bitcoin but still fall for such.
The big reason why people fall for that scheme and other scam is greed, uncertainty and quick wealth.

 From your questions you want to be sure that Bitcoin will change your financial situation and also you are not sure about how quick that will be and you are worried it may be in your mid ages or probably something your kids will benefit, all these thoughts and uncertainty may lead you in making unsettled decision that can be land you in trouble.

Don't just wait on Bitcoin you can enhance yourself, learn more skills do more things that can increase you source of income, save in Bitcoin as much as your financial ability can carry and don't worry too much.

Thank you for this, I appreciate the honesty. And yeah, looking back, I was all about to get rich quick. The worst part is that a friend who seemed credible and knowledgeable introduced me to the crypto world, and I tought I could  trust him, but he also lost money. It's not by chance that they say 'dyor'.

[Btcdeybodi]

This post just brought me to reality that not everyone who is investing in bitcoin will be rich in bitcoins because many people are still struggling to even get half bitcoin but it seems it will take them many years to get that. I also realized that someone who is investing $100 monthly might will not be rich in bitcoins even in the next 20 years because the amount they will accumulate will be very small in the sense that you will majorly buy at high prices such that even if the price of bitcoin hit $1 milion, you might only succeed to get like x5 of your invested amount which might still not even give you the kind of life you wish to live because it may still require you to convert your bitcoin to inflated fiat and the amount of the things you want to use the money may have skyrocketed by that time.

[Rufsilf]

We all dream to have bitcoin that will eventually create a significant change in our lives, one that makes a big difference that could be life-changing. And this will not be put into reality when all we have are just plans and goals, without an action. My advice to you, don't stop investing in bitcoin even through with DCA, because just like you said, you can reserve $100 for investment monthly, if you can do it within 5-7 years, I'm sure you will definitely end up with massive profits.

Consistency is the key, along with the right amount of courage and resilience.

[pr0phecy]

First, if you have yet known and read this book, it is time for you to read it.
The bullish case for Bitcoin.

After reading the book, please look at the yearly chart.
https://www.coinglass.com/pro/i/yearly-candlestick-chart

If you need more details on Bitcoin ROIs over past years.
https://cryptorank.io/price/bitcoin/analytics

https://img.cryptorank.io/snapshots/3102bdcc2cdbed67d6d79742.png

But one question keeps coming back to me recently: what if my current circumstances simply aren’t enough for that?[/b

Now it's time for you to work, get money, prepare your investment capital and do DCA bitcoin with time.

Thank you for the recommendations, I will look into them!

[aoluain]

TL;DR: I don’t want to give up on the idea that BTC might still improve my life one day, but maybe it will mainly benefit my future kids, or only make a real difference for me around in my 40s-50s. I'm curious how do you see this.

So first off the days of 100x ROI are gone, they were back in the early days but it
still wasnt instant, you would have had to HODL for a few years.

Secondly, you will need to have patience, there is no guaranteed way of being a millionaire!
OK you could try the lottery, you might hit it big in a short space of time.

Thirdly, if you decide that Bitcoin isnt going to benefit you quickly, what else is there?
Nothing! - everything takes time.

Look to the future, build yourself a plan from today. think of the Bitcoin 4 year cycle,
you will likely be better off in approximately 3.5 years from now.

Patience

[abaeze]

This post just brought me to reality that not everyone who is investing in bitcoin will be rich in bitcoins because many people are still struggling to even get half bitcoin but it seems it will take them many years to get that. I also realized that someone who is investing $100 monthly might will not be rich in bitcoins even in the next 20 years because the amount they will accumulate will be very small in the sense that you will majorly buy at high prices such that even if the price of bitcoin hit $1 milion, you might only succeed to get like x5 of your invested amount which might still not even give you the kind of life you wish to live because it may still require you to convert your bitcoin to inflated fiat and the amount of the things you want to use the money may have skyrocketed by that time.

Certainly, the return will depend one the investment. An investor who invests more for the purpose of long-term investment will benefit more. But there are some investors who are not interested in investing in Bitcoin, they are not willing to make small investments and cannot make large investments, for them I think it is better to hold Bitcoin in small amounts for the long term. Through this, even if an investor cannot buy at least one Bitcoin, if he can shorten half of the Bitcoin after a long time, I think that is a lot for him.

[pr0phecy]

(my 2 sats)
bitcoin is something that embrace many arguments if you look broadly.
You are not a young man, you can understand clearly that a new monetary system created by no governement continue to gain daily more trust and trust...

It's still something really simple to use. DeFi, CeFi, Cold Wallets for storage, multi signatures.... just to mentions some of advantages you can access freely without paying anything...
With the original idea that this should be used as money p2p with no censorship and privately...
I would say that you have at least at "parachute"... Like what happens in 2014 in Cyprus...
There are many of similar events that can happens. Bitcoin is the only resource that could probably save you or at least to help you to give an hedge.

Deep and true thoughts, appreciate it.

[KingsDen]

You can achieve your goal if only you can be consistent in buying bitcoin whenever, your $100 is available. A thousand miles start with a step. DCA might be slow but it's very effective and efficient in building your bitcoin portfolio overtime. You are in your early 30s and if you accumulate bitcoin with $100 monthly for 20 years, you will have a total of $24000 in bitcoin.

You ought to also create an emergency funds to backup your bitcoin investment so that you wouldn't sell your bitcoin when you are hit with real life emergency you should be active on this thread Buy the DIP, and Hodli.

You calculated it as if he was saving in a stable coin. $100 for 20yrs is actually $24k, but remember that for 20 years, there will be about 5 bull runs according to the bitcoin cycle and these 4 cycles will definitely take bitcoin to more than 150% if I don't exaggerate. 150% of 24,000 is about 36,000 and then add the capital we have about $60k.

So, 20 years is a good number to make fortune in bitcoin only if he remains consistent and not give up. Being able to save his BTC for 20 years is another case to determine.

[sunsilk]

I guess that many of us here are living for the next generation of our family and we want them to give a better life.

Don't forget to live your life brother and it's never too late to invest. You're even better than 99% who have no plans of how they'll acquire bitcoin even if they have enough salary.

Stick to your plan and be consistent in doing your monthly accumulations. Whether it's $100, $50 or any amount, as long as you will continue doing that.

I've done that for years and I can say that it's worth it when you're about to take profits, it sure is.

[ovcijisir]

TL;DR: I don’t want to give up on the idea that BTC might still improve my life one day, but maybe it will mainly benefit my future kids, or only make a real difference for me around in my 40s-50s. I'm curious how do you see this.

So first off the days of 100x ROI are gone, they were back in the early days but it
still wasnt instant, you would have had to HODL for a few years.

Secondly, you will need to have patience, there is no guaranteed way of being a millionaire!
OK you could try the lottery, you might hit it big in a short space of time.

Thirdly, if you decide that Bitcoin isnt going to benefit you quickly, what else is there?
Nothing! - everything takes time.

Look to the future, build yourself a plan from today. think of the Bitcoin 4 year cycle,
you will likely be better off in approximately 3.5 years from now.

Patience

100x days are gone, but regarding ROI Bitcoin performs much better than other assets.

And to answer OP whatever you do I recommend you to avoid trading except you know what are you doing.
I tell you that from my own experience, as I would probably have two times more crypto funds if I avoided trading and just holded it on cold wallet.

[Natalim]

It could certainly change your life if you consistently invest in bitcoin, and if the price keeps surging high and hit its new all time high. Investing in an immovable asset is useless, and bitcoin has not been stagnant so far, So along with faith, never stop investing as well, because if you can't benefit bitcoin in your old age, but your future kids will surely do.

Invest in bitcoin not for today but for the future, not your future, but your family's greener pasture.

[SOKO-DEKE]

The point is that Bitcoin investment has changed many people’s lives, and there is still strong hope that it will continue to change more people’s lives, as it is a very good investment. But what I will tell you now is that holding only $2k for the time you target cannot give you as much profit as you may be thinking.So my advice to you now is that you shouldn’t stop investing and rely only on that $2k. Continue to accumulate more Bitcoin so that you can build a better portfolio. That way, even if the Bitcoin price does not increase as much as you expect, you may still be able to gather some funds for yourself.

So the better thing to do now is to continue with your Bitcoin accumulation. And also, don’t forget about your emergency funds they are very important in Bitcoin investment, as you know. Emergency funds are for future purposes and unexpected problems that may arise later on. Having this emergency fund may help you avoid touching your Bitcoin investment when problems come up.

[pr0phecy]

This post just brought me to reality that not everyone who is investing in bitcoin will be rich in bitcoins because many people are still struggling to even get half bitcoin but it seems it will take them many years to get that. I also realized that someone who is investing $100 monthly might will not be rich in bitcoins even in the next 20 years because the amount they will accumulate will be very small in the sense that you will majorly buy at high prices such that even if the price of bitcoin hit $1 milion, you might only succeed to get like x5 of your invested amount which might still not even give you the kind of life you wish to live because it may still require you to convert your bitcoin to inflated fiat and the amount of the things you want to use the money may have skyrocketed by that time.

Many people said and I also talked to someone about it and it only reinforced what I had already suspected to some extent, to continue on the path to improve my financial situation, because regardless of bitcoin, that would improve my life in many other areas too.

[pr0phecy]

So first off the days of 100x ROI are gone, they were back in the early days but it
still wasnt instant, you would have had to HODL for a few years.

Secondly, you will need to have patience, there is no guaranteed way of being a millionaire!
OK you could try the lottery, you might hit it big in a short space of time.

Thirdly, if you decide that Bitcoin isnt going to benefit you quickly, what else is there?
Nothing! - everything takes time.

Look to the future, build yourself a plan from today. think of the Bitcoin 4 year cycle,
you will likely be better off in approximately 3.5 years from now.

Patience

100x days are gone, but regarding ROI Bitcoin performs much better than other assets.

And to answer OP whatever you do I recommend you to avoid trading except you know what are you doing.
I tell you that from my own experience, as I would probably have two times more crypto funds if I avoided trading and just holded it on cold wallet.

Thanks for the tip, "luckily" trading wasn't something and peek my interest and I get sick how many people try to sell these signal telegram/discord channels promising to get rich quick while flexing with probably rented lambos and fake watches.

[aylabadia05]

Based on my income, in the best-case scenario I can set aside around $100 per month for investing. Sometimes it feels very little, but I’m grateful that I can save anything at all.

I appreciate you taking the time to read this, and I look forward to hearing your perspectives.

Rather than nothing at all, $100 per month is a good way to set aside money to plan your financial future.
The scenario will change, and the $100 will change, and I believe that in a month's time, it will be worth more than the $100 you set aside.

A Bitcoin purchased today with $100 could be worth more if the next purchase price is lower than the current one.
No one knows what their fortune will be, but you have to be confident that you will be able to set aside more than $100 per month.

[Franklyn-wood]

This post just brought me to reality that not everyone who is investing in bitcoin will be rich in bitcoins because many people are still struggling to even get half bitcoin but it seems it will take them many years to get that. I also realized that someone who is investing $100 monthly might will not be rich in bitcoins even in the next 20 years because the amount they will accumulate will be very small in the sense that you will majorly buy at high prices such that even if the price of bitcoin hit $1 milion, you might only succeed to get like x5 of your invested amount which might still not even give you the kind of life you wish to live because it may still require you to convert your bitcoin to inflated fiat and the amount of the things you want to use the money may have skyrocketed by that time.

Many people said and I also talked to someone about it and it only reinforced what I had already suspected to some extent, to continue on the path to improve my financial situation, because regardless of bitcoin, that would improve my life in many other areas too.

Acquiring Bitcoin does not sound easy in the ear because you will have to be buying Bitcoin either in small units or buying in big units. Those that have owned small units of Bitcoin might not get rich from their investments because it will take you to own at least 5 Bitcoin for you to arguably think that you can become a millionaire as Bitcoin investor. Although the journey never gets old and what is required is to continue to buy and hold even if it is smaller units in Bitcoin. It might worth something bigger by the time the price reach a very high price and you can hold for long.

[bhadz]

Many people said and I also talked to someone about it and it only reinforced what I had already suspected to some extent, to continue on the path to improve my financial situation, because regardless of bitcoin, that would improve my life in many other areas too.

That's right, as you improve your financial situation and find ways to increase your income. It's not only you'll be able to buy more Bitcoins but also, you're going to get good with your life in general. So, you have now an idea of what to do while taking care of that, I'm sure that you'll face a lot of challenges before you'll be able to make it. But don't give up, everyone has a story like yours and if we're able to overcome it, we're also sure that you'll be to. Just don't take things for granted, never give up and solely focus on your accumulation without the need to sacrifice important matters of your life and family.

[pr0phecy]

Many people said and I also talked to someone about it and it only reinforced what I had already suspected to some extent, to continue on the path to improve my financial situation, because regardless of bitcoin, that would improve my life in many other areas too.

That's right, as you improve your financial situation and find ways to increase your income. It's not only you'll be able to buy more Bitcoins but also, you're going to get good with your life in general. So, you have now an idea of what to do while taking care of that, I'm sure that you'll face a lot of challenges before you'll be able to make it. But don't give up, everyone has a story like yours and if we're able to overcome it, we're also sure that you'll be to. Just don't take things for granted, never give up and solely focus on your accumulation without the need to sacrifice important matters of your life and family.

Thanks for the support, I guess sometimes it's just easier to believe something might "saves" me when things are hard and would be easier just to lay back a little bit and relax. Maybe I should watch more content from David Goggins haha