Getting rich off Bitcoin is impossible for the majority

[Luzin]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

When you are pessimistic, why should I give ideas to you? It's ridiculous, it's the same as giving advice that will be useless in the end. Why? Because intention is the main capital, no matter how much money you have, if you want to start, then do it. $50, what can you do with it right now? This is not realistic. You can even create an account here, do I believe it? No. But if you can use $50 to invest in one month, this seems quite realistic. We have markets, exchanges provide various applications. One of them is Futur. You can increase your money with futures trading. But if you have mastered everything related to trading, at least you understand that everything requires hard work.

[HajiBagi]

You are not in for your long term, I believe this is why you think about Bitcoin this way, bitcoin can still make you rich even with that $50 monthly, here is why I believe so.

Many years back Bitcoin was $100 per 1 Bitcoin, if you manage to buy $5 worth of bitcoin at the time you would be making this same complains, saying what will $5 investment turn into? You will believe that you won't be rich.

All it takes is some math make, whales are whales today because they have different mentality.

$1 Bitcoin today is 1200+ Satoshi right now.
One day, $1 Bitcoin will be worth 200 satoshi.

I want you to think about the future, getting rich is not miracle unless you want to do fraud, 2014 holders are all rich today because they have the gut to hold and wait.

My first thought when i read the post is the same thing you said, he is not ready to hold for a long term, although there are people who are capable of investing that kind of amount every month but no matter how it is it will be difficult to do that every month, $50 every month is not bad enough but that amount looks like someone who wants to make a profit from bitcoin so fast and that is not how bitcoin is working, invest with the amount you can afford to lose so that you will not complain when things are not going well.

I think some people still find it difficult to understand why they said bitcoin is risky and you should invest with the amount you can afford to lose, bitcoin does not guarantee anyone to be rich, although there is a profit when the price is high but you can not invest in bitcoin because of that because that shows how greedy a person is and the person is not ready to hold for a long term.

[Awaklara]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I would not even make the claim that everyone who invests in Bitcoin can make a profit. Let alone become rich by investing in Bitcoin. Earning a profit from investments is already more than enough for those who have other sources of income. 
Not looking at your capital, at this moment, it might be difficult to calculate how much you can invest with your monthly income. But maybe you could have become rich if the situation were in the past. Unfortunately, you and many others are not part of that. 
Try to increase your income sources first to see how much you can set aside for investing. Meet your living needs first.

[bitbollo]

Basically, if you will use FIAT as unit of measure, it would be impossible or at least crazy hard to get "rich".
bitcoin has not been designed as "the money that will make all of us rich" but as p2p money and in general as something that must be spent.
Are you getting rich by spending FIAT? Are you getting rich by storing FIAT? The same can be done with btc.
The advantage intrinsic... with btc you have a stronger money than standard FIAT. If was not enough, here you have other "features" that FIAT couldn't provide.
Last but not least, "being rich" in FIAT terms, means nothing if you are missing many other things...

[Zlantann]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

Bitcoin is not a Ponzi or get-rich-quick scheme. I'm not sure where you read that Bitcoin will make every Bitcoiner rich. It's just like saying that everyone who bought gold or shares would become rich. The amount of money you invest in a sector determines the profit you will make.

Those who earn $50 might not have enough to invest in Bitcoin. Their focus should be on how to survive and not to invest. They would have to seek means to make extra money from other sources. I suggest you invest in other things to raise enough money to invest in Bitcoin. Bitcoin, just as other assets, is not for everybody.

[Razmirraz]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

$50 is not the maximum amount you can invest each month because some of that amount should be set aside for other needs. It is impossible to become rich (if the definition of rich is having a house, car or various other assets) with an investment amount of less than $50 per month. Honestly, Bitcoin can't change your social status if you earn $50 per month, but it can be a reason for you to learn skills that can turn your $50 salary into $500. Wealthy people take advantage of Bitcoin's fluctuating price to increase their wealth, while people with below-average incomes use Bitcoin to improve their financial management skills.

[TheUltraElite]

Getting rich comes from the money making mentality.

Take the example of the crypto youtubers. They make money by selling courses which are useless but makes money or memberships into premium signal groups which are also useless but makes money and it takes a lot of blunting of their own moral values to be able to propagate them.

They might not be trading or working for crypto directly, keep that in mind.

But for the plebs like us, I think it is better if you keep yourself limited to investing for the long term and buy bitcoin at every dip.

[Ishicryptic]

You need to understand that Bitcoin is not a business except you are a miner, as an Investor your reward for holding it is profit and lose depending on how long you are able to hold because it is a volatile asset. See Bitcoin as an asset that has potentials to give you profit on the long term and how much profit it gives you depends on the amount of Bitcoin that you are holding over the period of bear runs.

If you want to get rich you should start a business, be an entrepreneur and diversify some of your profit or gains into Bitcoin instead of leaving it in the bank where it's value will surely depreciate after many years. Remember that if you don't have money you cannot afford to buy Bitcoin so Bitcoin doesn't guarantee quick profit or riches, you have to do your work and get rich, Bitcoin is support.

[Maslate]

if you are looking from a short-term point of view, getting rich is never possible. But if you are consistently investing through DCA, and aims to hold for long, indefinite years, that would definitely make you rich.

Take for example those early bitcoin investors, they started from scratch until they find theirselves creating wealth with bitcoin. But of course, it takes strict discipline and long stretch of patience for them not to sell in panic. And maybe an incredible faith or unwavering conviction that make them to trust bitcoin despite of its flaws, and being a high-risk asset.

[snowpega]

Despite the fact that Bitcoin has the potential to make one profit from investing in it, it's still not mandatory that everyone has to invest in it because it's a risky, volatile coin and when one who earns like you do and doesn't have another stream of income, it's not advisable because what about the bills you have to pay, how will you cope with that?
 Bitcoin investment isn't just for the rich, it's for those who have the risk tolerance and can do it with money they can afford to lose so in your case, doing that is setting yourself up for big challenges you're not ready to face.

I totally agree with you as I also personally believe that one should only invest in bitcoin if it has spare or saving funds. As I am such a kind of person who doesn't think much about having or booking profits from bitcoin in a short time frame, and this is more like trading, and I avoid doing trade it, and I prefer more HODL for the long term over trading. As in trading, the chances are much higher that one can lose its well earned money. But holding bitcoin for the long term can return a good amount of money, depending on the strategy and capital one has allocated to their portfolio in bitcoin.

Other than this, A person like OP, where he is only earning $50 per month is a very hard to manage funds after expenses and he is thinking to get rich so for this it is very obvious that a good capital of investment needed to get rich and for that it is also sure one have to hold its funds in bitcoin until they reach thier desire or target points. Well, this is my point of view. What do you think about it?

[sokani]

~

The fact that Bitcoin has appreciated in value over the years does not mean someone cannot be rich if they buy now. The thing is, the amount you have in mind is just too small. $50 on a monthly basis will not get you there. If you want to be rich, you will have to up your investment. $500 on a monthly basis is a good start, and if you can hold on for up to 10 - 15 years, that should be a whole lot of money.

[Dunamisx]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

It's all depends on the time at which each one of us enters the market, you cannot say that the early birds that invested over 10 years ago were not in profit now or made rich, same applies to us at this present moment that if we can invest today and decided to hold for more than a decade, we are most likely to make riches depending on the rate at which we invested with the market timing.

[Marykeller]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I believe that being of service is what will get anyone rich, if I am wrong why are your favourite Crypto YouTubers wanting to make videos every day to get paid by YouTube service?

High skills is sure to get you there than expecting to get rich with Bitcoin, today getting rich with Bitcoin is almost impossible for people like myself, because how much I earned every month as salary, getting rich out of Bitcoin investment today suits already rich people more not strugglers...

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

You can't say this to someone who is investing heavily in Bitcoin with a long term target in mind, that they can't be rich through Bitcoin. When it has been proven to them that those who invest in Bitcoin for long term are likely to be rich in the future.

So, if you are thinking within yourself that your $50 earning monthly can only give you profit not to make you rich, that's your own mentality not other people's mentality who earn more than $50 as monthly salary and ready to invest with amount they can spare

[vs2014]

Most people prefer to save local assets because there is no risk although the profit is low. Not everyone is familiar with Bitcoin and many are afraid to save because it is a volatile asset. Everyone has the goal of becoming rich so most people in modern youth have started thinking about crypto. Everything comes down to Bitcoin because those who invested in it for the long term have become rich. After Bitcoin was created many people have become rich today even after buying it for just $1. Bitcoin has quickly strengthened people's faith so people are now converting the funds they have saved through business or employment into Bitcoin.

[BlackHatCoiner]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

Bitcoin is not a get-rich-quick scheme. It's a don't-get-poor-slowly scheme. There's still a lot of upside, but for someone who just sits on 5 thousand dollars, it's not going to change his life. What this person must do is look how to increase his cashflow, so he can buy more overtime.

It's really a cashflow problem. How to grow your money once you have it is a solved problem. Just buy bitcoin and forget. The primary problem in the modern world is to have a successfully operating business that generates good cashflow.

[ZAINmalik75]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

Bitcoin is an alternative, something you could use part-time to increase your earnings from $50 to $60. Then, with slow learning, you can easily increase your earnings from $50 to $100 and so on. You can make a profit by both trading and holding. If you can save some money from a $50 salary, which I think is impossible because that cannot be the best salary package in your country, you should. There must be many people making more than $50, but the lower class is making $50 because of their lower skills and labor work. To make more, you have to learn demanding skills.

I know how hard it can be to manage your expenses with that salary, and no one could survive on it in this economy. In order to get rich, you have to make a profit, and you accept that you can make that with Bitcoin, so what are you waiting for? Start accumulating and stack your profit to do something big. The YouTubers you are talking about are patient and optimistic people, dedicating their time and energy not only to their videos, but they must be working on other ventures as well. Everyone is trying to increase their source of income by doing multiple jobs, so do not lose hope on how you can become rich. Nobody becomes rich overnight; there is a process of making a profit, earning money from multiple sources, and stacking that profit before taking bigger risks to make more money.

[Frankolala]

Profit isn't guaranteed in bitcoin investment in the long run wven though, you are a long-term hodler talk more of becoming rich. However, from the history of bitcoin it shows that the price increases overtime which means thqt there's a high odd thqt bitcoin price will move uptrend in future than downtrend. In bitcoin investment, the measure you give to it is the measure you get. If you invest once in a while with little amount don't expect a miracle in future.

[Wiwo]

Even though Bitcoin has the potential to make one profit from investing in it, it's still not mandatory that everyone has to invest in it because it's a risky, volatile coin and when one who earns like you do and doesn't have another stream of income, it's not advisable because what about the bills you have to pay, how will you cope with that?
 Bitcoin investment isn't just for the rich, it's for those who have the risk tolerance and can do it with money they can afford to lose so in your case, doing that is setting yourself up for big challenges you're not ready to face.

What we should know about bitcoin is that, it offers a lot of chances for one that is engaging in it to get some level of financial freedom regardless of their financial status, as long as you are active and disciplined to follow through, what I also realized with bitcoin is that you can adopt bitcoin as a poor man, but bitcoin adoption have the tendency to make you rich, what that means is that bitcoin risky and volatile nature comes with opportunities that only those that are open to certain informations and engaging in it can benefit from, which could turn their financial future around.

Risks tolerance is the numbe one characteristic of a potential bitcoin investor because in some situations only your risky action give you your desired expectation from the cryptocurrency market.

Investing in bitcoin is not the only way to make profits from bitcoin, trading too make alot of bitcoin traders rich, but you need to have skills to do that, and also understand proper risk management.

[Nahl]

If speaking about how to became rich from bitcoin indeed it depend on at what rates bitcoin would you buy and depend on how much bitcoin do you have because the first thing if people want to became an the millionare from bitcoin is those people have the ability to buy bitcoin a lot with cheap prices and hold it until the prices high and indeed with only $50 monthly salary like OP to gets a lot of bitcoin is impossible although you were buy bitcoin or accumulate it used your monthly salaries probably it took years to reach at least 1 bitcoin but i think being pesimistic is not always be good and with majority people current condition who categorize poor i think they still have potention to improved their financial condition using bitcoin and right now just don't give up to buy bitcoin and hold it for long term because in the future bitcoin can be considered as valuable asset than other investment instruments

[goldkingcoiner]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I believe that being of service is what will get anyone rich, if I am wrong why are your favourite Crypto YouTubers wanting to make videos every day to get paid by YouTube service?

High skills is sure to get you there than expecting to get rich with Bitcoin, today getting rich with Bitcoin is almost impossible for people like myself, because how much I earned every month as salary, getting rich out of Bitcoin investment today suits already rich people more not strugglers...

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

Is anyone profiting off of Coca Cola stock? Or any other big stock? YES.

Are they becoming rich? No.

Why? Because they are investing in something which is not a unicorn and not at it's starting stage. In fact, predicting something like that is impossible. Otherwise every Tom, Dick and Jane would have invested in stocks which would explode in price and make them rich years ago. But they didn't. Because nobody knew it was going to become such a big deal. Same thing with Bitcoin.

The goal is not to become rich. The goal is to become financially independent. And Bitcoin can and will do that.