Getting rich off Bitcoin is impossible for the majority

[m2017]

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.

Yes, I agree that these aren't the glorious times when everyone accidentally invested in bitcoin (and then accidentally forgot about it for years) and became rich. But believe me, even making a profit from investing in bitcoin is still quite good.

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?

I wouldn't put it in that order, because bloggers primarily pursue profit, and only then can it be considered "service" to people. There's far less altruism in this world than they advertise.

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...

In fact, success and wealth have always been achieved through hard work, luck, and consistency (systematic approach). It's just that bitcoin has ceased to be the "magic wand" that allowed you to relatively easily and quickly turn your life into the color of dollars.

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.

To improve your life, need to improve your life , not try to cheat using bitcoin.

To improve your life, you need to analyze it, first, your capabilities, prospects, and options for upgrading and training, so you can sell your skills for a higher price. 

[SuperBitMan]

If $50 is your take-home pay after other expenses, it wouldn’t be a bad idea to put it into Bitcoin. For me, a monthly salary of $50 isn’t enough to set aside for investment.

No one earning a monthly salary of $50 should even consider buying bitcoin.

The first priority should be increasing your income and building financial stability. Only after you can comfortably cover everyday living expenses and put some savings aside should you start thinking about investing in bitcoin or any other similar assets.

I don't think if this is true because the most important thing is if they have discretionary income to invest into bitcoin investment. Anyone that earning $50 as a salary can still buy bitcoin provided they have the discretionary income to do so
 Like they can get a bonus from work or even an extra cash as a gift from Friends. So if they decide to use this money to buy bitcoin I don't think if it is a bad idea.

If someone wants, they can invest in Bitcoin with their extra income or money from any field, but the most effective initiative is to invest regularly from their discretionary income. If the investor follows the DCA strategy and continues to accumulate Bitcoin in the long term, then he will be able to benefit the most. Those who think that they have to increase their income before starting Bitcoin investment are rather wrong in their concept. When investing in Bitcoin, it should be remembered that he can invest with a part of his discretionary income, no matter what the amount. If the investor can increase his income in the future, he can also invest aggressively or add that extra money to regular DCA. When investing in Bitcoin, he should invest as soon as possible without delay.

Yeah you are right, when you are investing in bitcoin you use only want you have to invest, if your discretionary income is $20 that is what you should be using to accumulate or invest in bitcoin and if it is below $20, that is what you will only use, don’t go above your discretionary income, don’t feel that your discretionary income is to low, if you can be consistent in using your small discretionary income to invest or accumulate bitcoin you will become successful, the most important thing in bitcoin investment is consistency and patience if you have this two qualities you will succeed in bitcoin investment, high discretionary income is useless in bitcoin investment when it’s not being used to accumulate regularly but low discretionary income is useful when it’s used to accumulate regularly.

[Queen uloma]

I could remember those days when someone buys bitcoin with little amount and still become  millionaire overnight. due to because the price was very low then, but currently now bitcoin has up graded from that level. So for someone who receive $50 every month, can not be rich by investing small amounts of money. But one thing bitcoin always do up till date, is that it still helps to grow small wealth over night and it still helps to improve a person’s financial condition. Majority of all this crypto influencers are content creators and they also market  products online which they’re paid hugely for that. Bitcoin isn’t a means of coming out of poverty but it can help to improve a person’s life.

[Just Say]

Anyone that earning $50 as a salary can still buy bitcoin provided they have the discretionary income to do so
 Like they can get a bonus from work or even an extra cash as a gift from Friends. So if they decide to use this money to buy bitcoin I don't think if it is a bad idea.

Why do you think that someone who is earning $50 salary can have a discretionary income? Let's be realistic and stop talking as if we don't know how the economy is now. Regardless of the bonuses you receive at your work place it won't be enough to take care of your needs and have a discretionary income from it. Someone who is earning $50 should find another source of income to alternate with his main source of income, then he can have discretionary income to invest with.

If a person has an monthly income of $50, then it is a difficult path for him to generate discretionary income because with such a financial situation or this amount of money, even basic needs may not be met properly and meeting family needs with such a poor middle class income is not conducive. Besides we have received advice from experienced and various Bitcoin whales that one can buy fractional amounts of BTC i.e. a few thousand satoshis and start with limited capital but this advice does not imply that a person earning $50 a month can actively invest without facing any obstacles. Also I know that if someone can find another way to earn money in addition to their local currency income source, then their wealth will increase if they are disciplined in investing in Bitcoin over the long term.

[ChisomP]

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 believe getting rich depends on individuals, you maybe earning $50 and if you maybe get like x100 of that, you might just consider yourself rich, meanwhile, some other person will consider $5000 as average or sustainable. So it varies from person to person.
Getting rich have a lot to do with money management than anything else, someone can be earning same salary as you, and will end up being better than you financially in the long run. But when you talk about real financial wealth that will truly elevate your status in society, you certainly will need luck for that.

[uneng]

I could remember those days when someone buys bitcoin with little amount and still become  millionaire overnight. due to because the price was very low then, but currently now bitcoin has up graded from that level. So for someone who receive $50 every month, can not be rich by investing small amounts of money. But one thing bitcoin always do up till date, is that it still helps to grow small wealth over night and it still helps to improve a person’s financial condition. Majority of all this crypto influencers are content creators and they also market  products online which they’re paid hugely for that. Bitcoin isn’t a means of coming out of poverty but it can help to improve a person’s life.

Profitability is always proportional to the risks involved. More than a decade ago, the risks were higher, as Bitcoin was still at the beginning, with low adoptions and unknown perspectives about the future. As adoption increased, whales and institutional investors came into the play, the risks decreased and Bitcoin became more stable. At same time, profit margins from cycle to cycle also become more stable (although still highly profitable compared to investments in general).

It's not possible to make outstanding profit, but it's still possible to make very decent profit margins. In every cases, if it's still not interesting for the investor, he should be looking for a niche of financial market which has potential, but hasn't been explored yet, just like crypto enthusiasts did in the early years regards this industry.

[Franklyn-wood]

If $50 is your take-home pay after other expenses, it wouldn’t be a bad idea to put it into Bitcoin. For me, a monthly salary of $50 isn’t enough to set aside for investment.

No one earning a monthly salary of $50 should even consider buying bitcoin.

The first priority should be increasing your income and building financial stability. Only after you can comfortably cover everyday living expenses and put some savings aside should you start thinking about investing in bitcoin or any other similar assets.

$50 a month is very little, and in his mind, it’s not enough to even consider investing. It’s not even enough to buy the things he wants. The monthly amount mentioned is simply too small.

Life does revolve around basic necessities and other expenses like electricity and internet service. If there’s anything left over, it goes into savings.
If income is slightly higher—enough to cover daily expenses for a full month—only then does the idea of investing for the future come up.

The economic situation currently is alarming and highly discouraging, people are going through serious experience that they can't even explain to other. Many men in our region have to leave there families and travel to long distance in search of jobs that could help the with means of survival, which is not always enough for them to feed themselves not to talk of there families. So to be able to achieve this,they stay away from there families.
People in this category and weven with something worse that this can still participate in Bitcoin with a steady and uncompressed determination.

[fredericktaylor]

I could remember those days when someone buys bitcoin with little amount and still become  millionaire overnight. due to because the price was very low then, but currently now bitcoin has up graded from that level. So for someone who receive $50 every month, can not be rich by investing small amounts of money. But one thing bitcoin always do up till date, is that it still helps to grow small wealth over night and it still helps to improve a person’s financial condition. Majority of all this crypto influencers are content creators and they also market  products online which they’re paid hugely for that. Bitcoin isn’t a means of coming out of poverty but it can help to improve a person’s life.

Those who invested in Bitcoin at the beginning of their journey and confidently endured for a long time have achieved success. Their patience and confidence have played the biggest role in leading them to success. If you buy Bitcoin in small amounts consistently with the right knowledge and have a long-term plan and use the opportunities correctly with confidence during market volatility and wait patiently for better times in the future, success can come. Success does not come quickly, it takes a lot to endure, the price of Bitcoin is very volatile, so it is wise to be patient for the right time and not get disappointed quickly.

[Johnlomape]

I could remember those days when someone buys bitcoin with little amount and still become  millionaire overnight. due to because the price was very low then, but currently now bitcoin has up graded from that level. So for someone who receive $50 every month, can not be rich by investing small amounts of money. But one thing bitcoin always do up till date, is that it still helps to grow small wealth over night and it still helps to improve a person’s financial condition. Majority of all this crypto influencers are content creators and they also market  products online which they’re paid hugely for that. Bitcoin isn’t a means of coming out of poverty but it can help to improve a person’s life.

Those who invested in Bitcoin at the beginning of their journey and confidently endured for a long time have achieved success. Their patience and confidence have played the biggest role in leading them to success. If you buy Bitcoin in small amounts consistently with the right knowledge and have a long-term plan and use the opportunities correctly with confidence during market volatility and wait patiently for better times in the future, success can come. Success does not come quickly, it takes a lot to endure, the price of Bitcoin is very volatile, so it is wise to be patient for the right time and not get disappointed quickly.

Where the problem usually surface is when they have to hold after they have successfully bought enough Bitcoin hoping the price will shoot up to their favour quickly. Investors that decided to invest in Bitcoin due to the news they have been hearing about how they can be successful putting their money in Bitcoin are the people that join the market to make quick profits and leave before any bearish movement surfaces. Gathering adequate understanding about the market is what is going to help invetsors to know when to hold and when to expect bearish movement in the market.