Is cryptocurrency millionaire dream a thing of the past?

[cuddaloreappu]

There are many millionaires made out of bitcoin in the past 5 years...But now its entering mainstream adoption..

is the dream of becoming a cryptocurrency millionaire much hard to become real now?

Even if there are new blockchain technologies like (ethereum, counterparty, Ripple etc.) will they have the same trajectory as bitcoin had, because things are very different now.

in short will the opportunity in 2009 still available or come again in 2014 and beyond ?

[hello_good_sir]

If bitcoin becomes the world currency, a single bitcoin will be worth millions of dollars.

If bitcoin becomes a trusted savings mechanism on par with gold, a single bitcoin will be worth tens to hundreds of thousands of dollars.

[Ron~Popeil]

There are many millionaires made out of bitcoin in the past 5 years...But now its entering mainstream adoption..

is the dream of becoming a cryptocurrency millionaire much hard to become real now?

Even if there are new blockchain technologies like (ethereum, counterparty, Ripple etc.) will they have the same trajectory as bitcoin had, because things are very different now.

in short will the opportunity in 2009 still available or come again in 2014 and beyond ?

With new payment systems and merchants coming on line constantly the demand will rise dramatically. We are still in the infancy stages of this grand experiment, opportunity is all around us.

[Swordsoffreedom]

I would not say the dream is over yet
With only 21 million Bitcoins and a divisible factor of 8
The value of 1 Bitcoin can be significantly large considering the innovation and infancy we are still in
There is a very good possibility of still becoming a millionaire if not making a few hundred grand
With around 15 to 20 Bitcoins

[TaunSew]

The boat sailed for Bitcoin.

In 2009 - you mined for (almost) free on any junk computer or bought when it was $0.005 cents.  $200 in 2009 = $24 million in 2014.  Those gains can't be repeated anymore.  Just to make a million dollars from $1000 today,  the capitalization has to hit $6 trillion which is almost no chance of happening (unless the US enters into hyperinflation and a Coca Cola costs $1200   ).


There's easy money in some alternates.  The people who invested 1.5 BTC in NxT in September 2013 made $2+ million in 2014.  If NxT hits Bitcoin's valuation, these people will be worth $200+ million.  

Eventually these things all come home to roost, no?  It kinds of makes a lot of these coins look like ponzi schemes, since only a very small handful of people (always less than 30 big initial wallets) seem to possess everything and they bought in at nothing.

[durrrr]

I think the chance of making millions of just bitcoin has gone away. There's still money to be made and price will go up but it's not
Going to be 10000% profit lol or return on investment

[knightcoin]

ATARI
pac man
https://www.youtube.com/watch?v=W1qO8gJZvb8

[cuddaloreappu]

But now its entering mainstream adoption..

Is it? I haven't seen anyone using Bitcoin in my "mainstream" encounters.

Rt news, BBC, CNN , and what not bitcoin is reported in all the channels and millions of viewers are aware of it...now its mainstream right

[TaunSew]

But now its entering mainstream adoption..

Is it? I haven't seen anyone using Bitcoin in my "mainstream" encounters.

Rt news, BBC, CNN , and what not bitcoin is reported in all the channels and millions of viewers are aware of it...now its mainstream right

Mainstream but I don't know anyone who is lining up to buy them.  If I recalled they've opened that new ATM in Amsterdam and were surprised that, effectively, nobody was interested in using the machine.  I don't hear anyone in the mainstream talking about China - all their concerns, months ago, was MtGox and general skepticism about the technology.

Honestly if Bitcoin or any digital coin were to grow then it's reliant on educating people to use these coins over money transmitters like Western Union.

[Pobre]

Well yes there is a great possibility of becoming a bitcoin millionaire in 2014 too, you can invest some huge amount of money in the btc at today's time and wait for 2016, the btc price will touch new height then

[hilariousandco]

It's more difficult to get rich off it now but it could still happen. I don't think 10k per coin is impossible so if you can get your hands on 100 it could happen eventually. Instead of trying to get rich off the currency itself look to invest in Bitcoin companies. If you could buy shares in the next Paypal or eBay for bitcoin you could make your money that way.

[Ron~Popeil]

It's more difficult to get rich off it now but it could still happen. I don't think 10k per coin is impossible so if you can get your hands on 100 it could happen eventually. Instead of trying to get rich off the currency itself look to invest in Bitcoin companies. If you could buy shares in the next Paypal or eBay for bitcoin you could make your money that way.

Agreed I do think the value will go up a lot more but smart investing is where the real gains are.

[Swordsoffreedom]

I think the chance of making millions of just bitcoin has gone away. There's still money to be made and price will go up but it's not
Going to be 10000% profit lol or return on investment

Well if potential scale is considered that is still a quite large return even if it's not as large percentage wise

[Bit_Happy]

The boat sailed for Bitcoin.

In 2009 - you mined for (almost) free on any junk computer or bought when it was $0.005 cents.  $200 in 2009 = $24 million in 2014.  Those gains can't be repeated anymore.  Just to make a million dollars from $1000 today,  the capitalization has to hit $6 trillion which is almost no chance of happening (unless the US enters into hyperinflation and a Coca Cola costs $1200   ).


There's easy money in some alternates.  The people who invested 1.5 BTC in NxT in September 2013 made $2+ million in 2014.  If NxT hits Bitcoin's valuation, these people will be worth $200+ million.  

Eventually these things all come home to roost, no?  It kinds of makes a lot of these coins look like ponzi schemes, since only a very small handful of people (always less than 30 big initial wallets) seem to possess everything and they bought in at nothing.

The boat sailed for getting rich way too easy & a few rare alt coins will still have a huge gain (like you said already)
Now the best thing is to start a related business, but the number of people who can become multi-millionaires is obviously limited.


Edit: The "fast and easy Big Money dream" is a clear motivation for the continued alt coin "boom".

[lyth0s]

When* Bitcoin becomes a million dollars a coin it will make millionares out of people that recently bought/mined coins. The trick is patience, and when you think it's time to sell, Dont. Set goals for yourself and stick with them. Don't let emotion set it. Could you imagine people that bought coins at say $10 and then selling them all during a $40 peak? They needed plan, how many coins they wanted to keep and what percentage of a rake they would take at whatever levels of bitcoin price.


TLDR: Yes Bitcoins will still make millionares out of recent investors.

[TaunSew]

When* Bitcoin becomes a million dollars a coin it will make millionares out of people that recently bought/mined coins. The trick is patience, and when you think it's time to sell, Dont. Set goals for yourself and stick with them. Don't let emotion set it. Could you imagine people that bought coins at say $10 and then selling them all during a $40 peak? They needed plan, how many coins they wanted to keep and what percentage of a rake they would take at whatever levels of bitcoin price.


TLDR: Yes Bitcoins will still make millionares out of recent investors.

Million dollars per coin would be in the quintillions. . whereas the capitalization of the entire planet is around 30 trillion (Quintillion is 10,000 Trillion).  Bitcoin being worth quintillions would have to be reliant on $Fiat hyperinflation.

[stokecrypto]

i think the dark devs instamine cud have made them millions at the price its at, so its still possible lol

[bitsmichel]

There are many millionaires made out of bitcoin in the past 5 years...But now its entering mainstream adoption..

is the dream of becoming a cryptocurrency millionaire much hard to become real now?

Even if there are new blockchain technologies like (ethereum, counterparty, Ripple etc.) will they have the same trajectory as bitcoin had, because things are very different now.

in short will the opportunity in 2009 still available or come again in 2014 and beyond ?

The dream is well alive on the forum, to be a millonaire is pretty easy fomula:  amount x marketprice.
If the marketprice is $1000 per coin, you would need 1000 btc
If the marketprice is $10.000 per coin, you would need 100 btc
If market price is $100.000 per coin, you would need 10 btc
If market price is $1.000.000 per coin, you would need only 1 coin  


If alt coins are going to rise, say LTC is going to $100 per coin, you would need 10000 coins.

[David1978]

if people trust bitcoins as a good saving machine, then yes, I think it could be even better than in 2009

[rhino34567]

I would still consider this the early-adoption stage. So no, there's still a chance.