Getting rich off Bitcoin is impossible for the majority

[Stalker22]

~
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.

Let me tell you from my own experience in the market.  You are one hundred percent right on one thing: there is nothing worse than not having any income when it comes to investments.
If you make $50 per month, then Bitcoin is not going to be the get rich quick method - its merely a savings account which doesnt leak its value.  However, you are wrong if you think that Bitcoin is worthless for you.

For instance, back in 2010, people could get rich by buying 1,000 BTC for just a few bucks.  Those times have passed, however, and today when a guy earning a low wage invests $5 into BTC, he does not do so in order to earn a million dollars, but in order to ensure that three years later his savings will be worth more than $0.50 after the depreciation of the national currency.  Thus, from this point of view, Bitcoin can be of some use to you.

However, it will only save your money; it will not earn you any if you are unable to make it yourself.  Firstly, gain some skills to earn more money; secondly, use bitcoin to protect your earnings from inflation.

[Sanitough]

If you just rely on buying bitcoin from just a very minimal income, getting rich with bitcoin will hardly become possible. But if you combine all these strategies in bitcoin, its clear getting rich quick with bitcoin will be guaranteed enough.

If you can invest long term and HODL, if you can do active trading, if you can create passive income and earn from it through lending and bitcoin rewards, and lastly if you start mining, all of these will make you filthy rich in the long run.

Just continue to secure your assets, risk only what you can afford to lose, focus on the long-term and stay informed, getting rich with bitcoin will be happening soon.

[sunsilk]

You know how to make your life better through any means that you know and the high skills that you have.

It's obvious that you can't live off with that salary of yours and think of investing with that amount.

I don't understand if that's a trapping question to the others who understand your situation. But, you know yourself better and the situation that you are in.

While I can agree to what you've said that for majority it's unlikely that they can't be rich with Bitcoin, that's because you'd see the problem before you even invest.

[AmoreJaz]

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.

This is the most honest framing in this thread. Bitcoin is not a cashflow generator, it is a cashflow preserver. The real problem is income generation, and Bitcoin does not solve that. What it does solve is the slow theft of purchasing power that happens while you figure out the income problem. Those are two completely separate problems and most people confuse them.

A lot thought that once they jump in in this market, they can already gain continuously. I believe that's the notion of most who haven't been in the crypto market. That once you bought some satoshis, you can just sell off and earn from it so fast.

[Y3shot]

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.

If you understand bitcoin very well, you will have that understanding that bitcoin doesn't make one to be rich quick , Bitcoin is  a store of value and it gives financial freedom. People who thinks Bitcoin makes one to be rich quick just only misunderstand it, if you want to be rich you just need to work for it and if you want good value Bitcoin can give you that. Bitcoin is just a support to help one to gain financial stability and not to make one to get rich. If you want to become rich in bitcoin you must think of long-term,  which you must be able to hodl Bitcoin up to a decade or even more.

[maxreish]

Making profit out of it , since 2019 I have been profitable for selling it on highest price. It's impossible for majority, partly yes because they didn't use it to buy things that is beneficial to their lives. As for me, I've built my own house by selling my btc. I don't have any regrets because I have been wisely used it and rebuy at lowest price again.

[Finestream]

Getting rich is still possible but you should not limit yourself from bitcoin alone. You need to develop some high-income skills that are suitable for your other plans and goals in life. You don't have to start it big, but consider an amount that you can afford to lose. Success does not matter much on the capital alone, your commitment and consistency matter the most.

Still, do not stop from DCAing bitcoin, that would bring unexpected wealth once you stick with long term hodling. Having bitcoin and other profitable errands in life, it won't get you quick rich, but you will get there slowly but surely.

[KingsDen]

Op is just not being economical with the truth.

Bitcoin only made early adopters so rich with little investment, but that time is gone.

For you to be so rich with bitcoin in today's world, you should already be a comfortable someone such that you buy bitcoin with a reasonable amount of money.

However, even if bitcoin cannot make you so rich, it will not keep you stranded. It will make you comfortable even with your little commitment to DCA investment method.

So, the reason you should be in bitcoin now is not only a promise to be rich, but this is the future of finance.

[laspol65]

Do not expect to get rich with bitcoin if you just stay buying on your safe zone. You have to take some risk and maximize bitcoin in your portfolio so that when bitcoin price goes to the moon, you will also gain an excellent amount of rewards.

And consistency plays a big role when aiming to get rich. You have to stick on your plan and be a consistent investor as long as you can.

Yes, but if every investor invests in Bitcoin consistently according to his ability, then he will definitely be able to get rich from here. But for the price of Bitcoin to skyrocket, some people want to get rich by investing a little in Bitcoin but do not want to wait. All these investors are basically low-income but because of their greed, they cannot last long. And if they see instability in the Bitcoin market, they give up their Bitcoin investment, it will never be possible for them to get rich or make more profits.
Therefore, if you want to invest in Bitcoin, it is most important to hold it for the long term and it is possible to improve the current position more. However, after the Bitcoin investment is ongoing, you should definitely take the opportunity to buy Bitcoin again and again and increase the amount of Bitcoin investment.

[Vaskiy]

Long back we had the possibility of getting rich through bitcoin. Back then people weren't ready to believe it. Now we've reached far from those days. In my understanding, people who can afford at least 1BTC as a whole could be able to make good money if they are ready to learn and get into trading. Apart from that, people who earn low and have the possibility to spend a small part on Bitcoin investment can't make big money. At the same time, they can grow their hard-earned money. In simple terms, even $50 at a certain time interval will surely give a good profit in the long term compared to the money that is being saved in bank accounts.

[X-ray]

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 are thinking it wrong, you want to get rich through bitcoin by flipping money buying bitcoin and hoping it will go 100x overnight and you become rich.

That isn't the right mindset and we've gone past that age where you could buy bitcoin and grow it into millions having early birds benefit. That doesn't happen anymore.

But what you can do to get rich off bitcoin is to accumulate, let bitcoin grow your capital but you need to increase your income as well. Consider investing in bitcoin like investing in gold but with higher upside.

If you think you are going to get rich by investing $50 to bitcoin overnight, you are thinking of bitcoin as some magical tool, like a djinn lamp to grant your wish. That's plain wrong.

[Swordsoffreedom]

If you just rely on buying bitcoin from just a very minimal income, getting rich with bitcoin will hardly become possible. But if you combine all these strategies in bitcoin, its clear getting rich quick with bitcoin will be guaranteed enough.

If you can invest long term and HODL, if you can do active trading, if you can create passive income and earn from it through lending and bitcoin rewards, and lastly if you start mining, all of these will make you filthy rich in the long run.

Just continue to secure your assets, risk only what you can afford to lose, focus on the long-term and stay informed, getting rich with bitcoin will be happening soon.

If someone could do everything you said and become wealthy. Such as making profit from trading, generating passive income through lending, or mining Bitcoin...That wealth is the result of their own hard work and effort, not something that Bitcoin has given them.

If someone could do all of that, they would become wealthy with any financial instrument, not just Bitcoin.

Bitcoin is just a tool, it does not create wealth for anyone on its own. Profit and wealth depend on our knowledge, skill, strategies, and efforts, not on Bitcoin.

[BitBrainers]

Bitcoin is just a tool, it does not create wealth for anyone on its own. Profit and wealth depend on our knowledge, skill, strategies, and efforts, not on Bitcoin.

Exactly right. And this is the distinction most people never make. Bitcoin does not generate cashflow, it preserves it. The person who builds a skill, generates income, and stores that income in Bitcoin is using the tool correctly. The person waiting for Bitcoin alone to make them rich is confusing a savings instrument with a business. One requires effort, the other just requires patience. Both matter, but in the right order.

[Mpamaegbu]

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.

You aren't wrong on that. The time has gone when people got rich hodling or investing in Bitcoin, even in tiny bits. In today's reality, people can only make profit from such investment but not get rich from it. The ROI now isn't what it was in the past. Early adopters who didn't panic and sold early are extremely lucky.

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...

Those who are skillful at trading it can also get rich from their activities on it. And that will also depend on the quantity of coins they trade.

[Free Market Capitalist]

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.

With that salary you are going to be poor no matter what. Even with a significantly higher salary that would allow you to save and invest, the chances of becoming very wealthy are slim, because the era of massive returns on Bitcoin is over.

What everyone can do is create and follow a wealth-building plan. Try to increase your income and develop additional sources of income, save and invest little by little, so that your financial situation improves gradually as well.

[Outhue]

If you can invest in Bitcoin and wait for 10 years, you will definitely get rich, keep buying some Bitcoin for the next 10 years and you will see what will happen, scarcity will hit Bitcoin more than it is today, even miners will have less bitcoin to mine at the time, it's going and the total max supply is shrinking.

The reason why many people don't get rich in Bitcoin is because they are not prepared for a long term holding, the want something that will work out in a short period of time and that's impossible, for Bitcoin to make new all time high it takes time, and with 10 years in the future I expect Bitcoin to make two different ATH, based on the four years cycle, we had 126k already, I am looking forward to 250k and also 500k, it's still possible that we see 40k bitcoin in this bear market, so buying at 40k - 50k and selling at 500k in 10 years time will make you rich.

[DonaldCryptoTalk1]

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.

I partially agree. Bitcoin alone may not magically make most people rich anymore like it did for early adopters, but it can still improve someone’s financial position over time. The problem is many people expect overnight wealth instead of steady growth.

Skills and providing value are definitely important because they increase income, and higher income allows bigger investments. But Bitcoin can still serve as a store of value and a protection against inflation, especially for people in countries with weak currencies.

Someone earning $50 monthly may not become a millionaire quickly through Bitcoin, but consistent DCA, patience, and self development together can still create a better financial future. Wealth today is more likely to come from combining skills, income growth, and smart investing not relying on only one thing.

[barbara44]

If they know how to do it, the whole world could, but at the same time that would devalue fiat and that is why you are not going to be getting "richer" but more like you are protecting your current standards.

If you are making money enough to pay for 1 apple, and 1 apple costs 10 dollars, and you invest that into bitcoin instead, and 10 years later, 1 apple costs 10 0dollars but your bitcoin worths 100 dollars, now you can still only be able to buy one apple, you di not get rich, but the guy who held their 10 dollars, now has nothing they can buy, even with interest, they can't buy half an apple.

[Out of mind]

It is true that if you buy Bitcoin and hold it for a long time, it will be possible to get rich, but getting rich here is not so easy. Rather, you have to invest in Bitcoin and hold it for a long time, and you have to be patient because when there is instability in the market, self-control is important. However, there are many people who cannot get rich even by investing in Bitcoin. There are many people who invest in Bitcoin but fail to get rich at some point due to their financial problems. When you earn a certain amount of money and fulfill your life needs with it, you will not have much money to invest. When you invest a small amount of money in Bitcoin, it will not give much profit in the future and the chances of getting rich will be low. Therefore, to get rich from Bitcoin, you have to increase the amount of money and have a higher fraction of Bitcoin so that when Bitcoin reaches its peak in the future, there will be more profit and there will be a chance of getting rich.

[Danica22]

You think I am wrong?

You are not wrong, but you are not entirely right either. Because many people have become wealthy simply by investing $50 or $100 in bitcoin and holding it for a long time. Unfortunately, the era of getting rich quick with little capital through Bitcoin is long gone.

Bitcoin has now matured, with a market capitalization reaching trillions of dollars. Therefore, it can no longer help us get rich with only a small amount of capital. However, compared to traditional asset, it remains a better performing investment. Therefore, Bitcoin remains the better option for us.