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Author Topic: How much Bitcoin do you think you would need to hold to become a millionaire?  (Read 3228 times)
freedomno1
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January 16, 2015, 05:36:34 AM
 #21

I'd go with....

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I'm still pondering if you meant worst case Scenario or if that was a snide remark at a certain capital  Wink
You know your ready for the Worst Case Ontario if you have 50 BTC saved up
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Chef Ramsay
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January 16, 2015, 05:39:05 AM
 #22

I'd go with....

Super Optimistic 5-10
Middle of Road 20
Worst Case Ontario* 50


I'm still pondering if you meant worst case Scenario or if that was a snide remark at a certain capital  Wink
You know your ready for the Worst Case Ontario if you have 50 BTC saved up
well, we are at $217+ at the moment. So, accept it!
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January 16, 2015, 05:54:12 AM
 #23

21,000,000 BTC

Amount of fiat currency from all countries in circulation 170 Trillion
USD Debt 17 Trillion
amount of dilution under QE program % of debt growing 1Trillion annually

1,000,000 is not going to buy much in 5 years...

At $200 USD per coin 5 coins per $1000, a million bucks is 1000x1000
so 5 coins would have to rise 1000X to be worth a million seems unlikely short term

$10,000 x 100x or 100,000 x 10x seems more realistic. So 50 $200 coins or 500 $200 coins might work

if the fiat currency was backed by gold, bitcoin would not be as necessary,
In a crisis the volatility is the unknown that can make you a profit.

Looking back to 2008 at 0.05 per BTC, you needed 1000 coins, held until $1000 and you would of made
$1,000,000 there is a different mining scenario now which I think requires more thought...

Inflation is when money supply creates too much price inflection, the market for BTC capitulated because the 100000 coins being auction by the fed created uncertainty, once the market knows what rice they fetch, that will be the new price range. The more users pile in at these prices the more bitcoin has growth potential. I predict the oil crash will crash the energy bond market by June by 30%, triggering bankruptcies... Bitcoin will have a good summer, the fed is stuck printing money forever.. All the bad news for stocks, oil, bonds will push people into BTC when they see the rate of acceleration and returns. this is a hiccup. Long live BTC.
The Bad Guy
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January 16, 2015, 06:05:57 AM
 #24

if we are going to put usd value to bitcoin how much do you think you would need to hold in btc to become a millionaire in the next 5 years?

That depends on how much the price would be in five years , I would say it would be 1200$ / USD or dead  Roll Eyes pretty sure that not the price of now since there would be less bitcoin in 2016 Q4 (halving block reward)

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January 16, 2015, 06:11:14 AM
 #25

If you hold onto it for 20 years maybe only 1 BTC  Cheesy

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January 16, 2015, 06:29:41 AM
 #26

it's really simple.   

$1000000 / btc price = how many you need.
Soros Shorts
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January 16, 2015, 06:37:47 AM
 #27

A tad over 5,000 today.
^^^ Didn't understand the question.  Has trouble reading and tying shoes.  But otherwise a real nice guy.

Actually he provided the only guaranteed  answer - sell the 5000 BTC today and hold on to the cash for 5 years.

On a more speculative level, I think 500 coins should very easily turn into a million in 5 years.
fryarminer
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January 16, 2015, 06:42:41 AM
 #28

Here's a thought... In 5 years, just how much will $1 million be worth? Will it buy a fine suit? Or a loaf of bread?
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January 16, 2015, 12:27:31 PM
 #29

At least 500 and probably more like 1500.

Currently held as collateral by monbux
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January 16, 2015, 12:35:03 PM
 #30

if we are going to put usd value to bitcoin how much do you think you would need to hold in btc to become a millionaire in the next 5 years?

I would like to say 100 and wait for 10k a piece, but I think that's unrealistic within five years but maybe when/if bitcoin goes full mainstream. I think bitcoin can hit $1000, though within the next five years.

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January 16, 2015, 12:38:26 PM
 #31

I'm still pondering if you meant worst case Scenario or if that was a snide remark at a certain capital  Wink
You know your ready for the Worst Case Ontario if you have 50 BTC saved up

It's a Ricky-ism from Trailer Park Boys, but yeah, always good to be prepared for worst case Ontario too.

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

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January 16, 2015, 12:51:59 PM
 #32

For me, the most ideal number has to be 1000 bitcoin. With that amount, the price only needs to hit 1000 like it did before.

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January 16, 2015, 12:59:01 PM
 #33

I think to become a millionaire you need 500,000 btc minimal taking into account that it it can drop back to less than $50 easily Smiley
So i am well underway with my 1.2 btc
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January 16, 2015, 12:59:09 PM
 #34

You shouldn't care.

Also,
I think to become a millionaire you need 500,000 20,000 btc minimal taking into account that it it can drop back to less than $50 easily Smiley
So i am well underway with my 1.2 btc

Fixed that for you, doc.
qwk
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January 16, 2015, 12:59:59 PM
 #35

Wink

Yeah, well... I'm gonna go build my own blockchain, with blackjack and hookers. In fact, forget the blockchain!
bronan
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January 16, 2015, 01:02:01 PM
 #36

hahaha indeed qwk
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January 16, 2015, 01:07:28 PM
 #37

Silly question, I'd say half a million BTC. I'm pretty surprised people think BTC will be worth 10k lol.

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January 16, 2015, 01:11:48 PM
 #38

At least 1,000 BTC.

People who say 50 BTC is enough are a joke.

That means the price will be $20,000 at a certain point.  Cheesy

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January 16, 2015, 01:12:10 PM
 #39

For me, the most ideal number has to be 1000 bitcoin. With that amount, the price only needs to hit 1000 like it did before.

Indeed.

My local people INDONESIA, bought bitcoin on the first launching. He bought about 1000 BTC just want follow the trend.

As the result for now, he's a millionaire. He could build own exchanger.

OSCAR DARMAWAN his name  Cool

Flashman
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January 16, 2015, 01:31:00 PM
 #40

At least 1,000 BTC.

People who say 50 BTC is enough are a joke.

That means the price will be $20,000 at a certain point.  Cheesy

2012 called, they're laughing at you for saying 1000 BTC will ever be enough.  Wink

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
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