Getting rich off Bitcoin is impossible for the majority

[Abiky]

This is the most honest reply in the thread. The DCA advice everyone keeps giving ignores basic arithmetic. If your entire income barely covers survival, there is no discretionary income to DCA with.
Bitcoin does not solve a poverty problem. It amplifies what you already have. For someone with $50 a month, the priority is increasing income first. Bitcoin comes after you have breathing room, not before. Telling a struggling person to cut 30% for Bitcoin is not financial advice, it is just noise.

True. But it's still possible to spare some money and spend it on BTC. You just need to establish a budget that will help you keep track of expenses in an effort to reduce unecessary spending as much as possible. Why not start by cutting costs? You can lower your Internet service speeds, cut cable/satellite TV, and even reduce energy consumption. The remaining amount of money can be used to DCA on Bitcoin.

There's literally no excuse not to start taking control of your financial life, and become rich with Bitcoin. But of course, investing is not for everyone. If you feel you can't just do it, then just "stick" with Fiat. Just my two sats.

[BlackBoss_]

True. But it's still possible to spare some money and spend it on BTC. You just need to establish a budget that will help you keep track of expenses in an effort to reduce unecessary spending as much as possible. Why not start by cutting costs? You can lower your Internet service speeds, cut cable/satellite TV, and even reduce energy consumption. The remaining amount of money can be used to DCA on Bitcoin.

There's literally no excuse not to start taking control of your financial life, and become rich with Bitcoin. But of course, investing is not for everyone. If you feel you can't just do it, then just "stick" with Fiat. Just my two sats.

It's always smart to reduce or minimize your spending cost so that with same income, you can have more money for saving, emergency fund and investment fund. Saving a little bit more money and using it for investment, in one month, several months might not look to be too big and considerable but things will change considerably after several years.

By saving money, investing it in Bitcoin through DCA strategy, after several years, your total money spent for investment will be big, especially with Bitcoin price growth over years, your Bitcoin portfolio will become much bigger in value with time.

[BitBrainers]

Cutting Netflix and lowering internet speeds helps at the margin. But if the gap between income and survival is $500 a month, trimming subscriptions gets you to $520. The math still doesn't work. The advice is sound for someone with discretionary income they are wasting. It misses the person who has none to waste.

Cutting expenses helps when the problem is waste. It fails when the problem is structural. The advice works for someone spending $200 on subscriptions. It doesn't work for someone whose rent just went up $300. Bitcoin is a wealth amplifier, not a poverty escape hatch.

[Samlucky O]

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.

Well one can still be rich through Bitcoin investment but it will depend on the amount you invest and the volatility rate over time. Although most people became rich through Bitcoin investment because they where early adopters who bought Bitcoin cheap and it increased tremendously overtime. But base on the current price, it will take longer time to increase in such percentage. But what can guarantee you to make more profit is by the type of amount you invest. Let's say if you buy 10 Bitcoin now at the rate of $74k each which is $740k and Bitcoin increase by 2x, you will make double of your invented amount. So what people need to make a lot of profit is to increase you investment amount sothat a small increase in Bitcoin price will make you more richer. I know this is not for everybody but it will be more favorable to the rich investors.

[Luzin]

So what people need to make a lot of profit is to increase you investment amount sothat a small increase in Bitcoin price will make you more richer. I know this is not for everybody but it will be more favorable to the rich investors.

Maybe like that, but there are various ways to increase the number of our bitcoins. Maybe try trading or collecting consistently. Nothing is impossible, people who tend to start small and learn a lot will better understand how the market works. So everyone has a chance, don't think about getting rich. Do what you can by taking advantage of exchange features. Study seriously because a lot starts from a little, and starting from not being able to is also possible. So we don't need to give up hope on people who have small capital, because there is always an opportunity for everyone.

[Danica22]

So what people need to make a lot of profit is to increase you investment amount sothat a small increase in Bitcoin price will make you more richer. I know this is not for everybody but it will be more favorable to the rich investors.

Maybe like that, but there are various ways to increase the number of our bitcoins. Maybe try trading or collecting consistently. Nothing is impossible, people who tend to start small and learn a lot will better understand how the market works. So everyone has a chance, don't think about getting rich. Do what you can by taking advantage of exchange features. Study seriously because a lot starts from a little, and starting from not being able to is also possible. So we don't need to give up hope on people who have small capital, because there is always an opportunity for everyone.

Nothing is impossible, and we should never give up. However, we also need to understand where we stand and set realistic goals based on our financial situation and current market conditions. Don't let yourself get caught up in unrealistic expectation or chase goal that are almost impossible to reach.

The reality is Bitcoin has already hit a $1.5 trillion market cap, and the era of getting rich quick in the crypto market is over. The get rich quick stories are no longer true, we need to accept that reality.

[Ayers]

True. But it's still possible to spare some money and spend it on BTC. You just need to establish a budget that will help you keep track of expenses in an effort to reduce unecessary spending as much as possible. Why not start by cutting costs? You can lower your Internet service speeds, cut cable/satellite TV, and even reduce energy consumption. The remaining amount of money can be used to DCA on Bitcoin.

There's literally no excuse not to start taking control of your financial life, and become rich with Bitcoin. But of course, investing is not for everyone. If you feel you can't just do it, then just "stick" with Fiat. Just my two sats.

It's always smart to reduce or minimize your spending cost so that with same income, you can have more money for saving, emergency fund and investment fund. Saving a little bit more money and using it for investment, in one month, several months might not look to be too big and considerable but things will change considerably after several years.

By saving money, investing it in Bitcoin through DCA strategy, after several years, your total money spent for investment will be big, especially with Bitcoin price growth over years, your Bitcoin portfolio will become much bigger in value with time.

I'm not against cutting costs and saving money, but I do not think it is a comprehensive or highly effective solution.

Focusing solely on cutting expenses to the point of making life unnecessarily difficult, while neglecting income growth is the mindset of the poor. That mindset will not lead to any significant financial improvement, even if you invest those small amounts in Bitcoin for many year.

Do not cut expenses to the extreme and live so frugally that it affect your quality of life just to invest. Instead, low income earners should prioritize and focus on increasing their income rather than simply saving for investment. That is what a real long term solution looks like.

[wmiran]

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 don't think you're wrong. Bitcoin can help protect savings and grow wealth over time, but for someone earning $50 a month, increasing income is usually far more important than finding the perfect investment. Skills, education, and creating value tend to have a much bigger impact on quality of life. Bitcoin can be part of the plan, but it can't replace the need for earning more.

[BitBrainers]

I don't think you're wrong. Bitcoin can help protect savings and grow wealth over time, but for someone earning $50 a month, increasing income is usually far more important than finding the perfect investment. Skills, education, and creating value tend to have a much bigger impact on quality of life. Bitcoin can be part of the plan, but it can't replace the need for earning more.

The $50/month example is exactly where the conversation needs to go. At that income level, Bitcoin is not an investment vehicle, it is a savings tool. Even $5/month into BTC over 5 years is not about getting rich, it is about having something that cannot be inflated away. The real problem is that financial systems in low-income countries destroy savings faster than people can accumulate them. Bitcoin does not solve the income problem. It solves the savings destruction problem. Those are two different things.

[HMb1996]

I would oppose the motion because bitcoin has rewarded ordinary long term holders,
Who were consistent in accumulating bitcoin several years ago have attained a substantial milestone
In wealth creation. In addition, wealth creation doesn't necessarily mean accumulating
Hundreds and thousands of bitcoin, buying it bit by bit, holding it to appreciate
In conclusion, such claim of Getting rich off Bitcoin is impossible for the majority is
Absolute which makes such claims unrealistic