Bitcoin Forum
October 24, 2017, 04:06:52 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3] 4 »  All
  Print  
Author Topic: How much Bitcoin do you think you would need to hold to become a millionaire?  (Read 3188 times)
noob2001
Hero Member
*****
Offline Offline

Activity: 630


View Profile WWW
January 16, 2015, 01:43:24 PM
 #41

21 bitcoins is all you need to become a $ millionare in 5 years, thats if bitcoin trebles in price every year.

initial outlay                  $4,200

2015         $600  =      $12,600
2016       $1800  =      $37,800
2017       $5400  =    $113,400
2018     $16200  =    $340,200
2019     $48600  = $1,020,600


correct me if i'm wrong
1508818012
Hero Member
*
Offline Offline

Posts: 1508818012

View Profile Personal Message (Offline)

Ignore
1508818012
Reply with quote  #2

1508818012
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508818012
Hero Member
*
Offline Offline

Posts: 1508818012

View Profile Personal Message (Offline)

Ignore
1508818012
Reply with quote  #2

1508818012
Report to moderator
1508818012
Hero Member
*
Offline Offline

Posts: 1508818012

View Profile Personal Message (Offline)

Ignore
1508818012
Reply with quote  #2

1508818012
Report to moderator
sadprince
Newbie
*
Offline Offline

Activity: 28


View Profile
January 16, 2015, 01:46:25 PM
 #42

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

In Ukraine 50 BTC will be enough for me, and it will solve half of my problems Smiley
gabbello
Member
**
Offline Offline

Activity: 91


View Profile
January 16, 2015, 01:50:08 PM
 #43

A couple millions bitcoins

Buy and sell bitcoins using credit cards, paypal, skrill, ukash - http://www.virwox.info

██████████  ✔  PoSToken - First PoS Smart Contract Token - Get Your Free Tokens Now!
█     PoSToken    █  ✔  Free Airdrop ●  No-ICO  ●  100% Annual Interest First Year
██████████  ✔  ANN ●  WebSite  ●  Twitter  ●  Slack  ●  Whitepaper
Gervais
Sr. Member
****
Offline Offline

Activity: 366



View Profile
January 16, 2015, 01:56:07 PM
 #44

21 bitcoins is all you need to become a $ millionare in 5 years, thats if bitcoin trebles in price every year.

initial outlay                  $4,200

2015         $600  =      $12,600
2016       $1800  =      $37,800
2017       $5400  =    $113,400
2018     $16200  =    $340,200
2019     $48600  = $1,020,600


correct me if i'm wrong

Well that's all well and good but it hasn't trebled last year - it lost more than half it's value - and has continued to crash. That being said I still think bitcoin is in its infancy so it could achieve this doubling or trebling over the next few years but I am sceptical.
1Referee
Legendary
*
Offline Offline

Activity: 1302

BitKorn!


View Profile
January 16, 2015, 02:03:45 PM
 #45

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

That was then. Back then it had a market cap not even worth mentioning.

There are way too many dreamers at this point.

I think $2000 to $3000 per coin is already quite a high prediction.

noob2001
Hero Member
*****
Offline Offline

Activity: 630


View Profile WWW
January 16, 2015, 02:10:35 PM
 #46

21 bitcoins is all you need to become a $ millionare in 5 years, thats if bitcoin trebles in price every year.

initial outlay                  $4,200

2015         $600  =      $12,600
2016       $1800  =      $37,800
2017       $5400  =    $113,400
2018     $16200  =    $340,200
2019     $48600  = $1,020,600


correct me if i'm wrong

Well that's all well and good but it hasn't trebled last year - it lost more than half it's value - and has continued to crash. That being said I still think bitcoin is in its infancy so it could achieve this doubling or trebling over the next few years but I am sceptical.

price will continue to be volatile. ie 400% up in 2016, then -50% down in 2017, but could still average 200% a year.

MUFC
Hero Member
*****
Offline Offline

Activity: 502


View Profile
January 16, 2015, 02:12:53 PM
 #47

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

Half a million btc? You do realize there's only ever going to be 21 million total? 10k is probably far fetched but remember bitcoin was 1k with practically zero adoption. Imagine what would happen if we get mass adoption and it is used frequently all around the world? Then 10k wouldn't be so ridiculous in my opinion.

jonald_fyookball
Legendary
*
Offline Offline

Activity: 1218


Core dev leaves me neg feedback #abuse #political


View Profile
January 16, 2015, 02:30:29 PM
 #48

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

so you're saying Bitcoin will be worth $2 in 5 years... amazes me how many skeptics hang out here.  The value of Bitcoin is going to collapse 99% but you want to talk about Bitcoin and post...  don't get it.

bornil267645
Sr. Member
****
Offline Offline

Activity: 406


AltoCenter.com


View Profile WWW
January 16, 2015, 02:41:36 PM
 #49

At current price I think just over Quarter million BTC will do. But that won't do me much good, cause not any opportunity to spend bitcoins here in Bangladesh.

Sagacious
Newbie
*
Offline Offline

Activity: 2


View Profile
January 16, 2015, 02:43:20 PM
 #50

If bitcoin doubles in price....then we only need 2500 bitcoin to become a millionaire.... Cheesy Cheesy Cheesy
hdd3go
Hero Member
*****
Offline Offline

Activity: 840


View Profile
January 16, 2015, 02:43:35 PM
 #51

1,000 at least, but still not enough to buy a house in China. Cheesy

Selcouth
Newbie
*
Offline Offline

Activity: 2


View Profile
January 16, 2015, 02:46:14 PM
 #52

I think in the 10 years we would only need 600 Bitcoin but next 5 well around 2000
General_A
Member
**
Offline Offline

Activity: 70


View Profile
January 16, 2015, 04:53:30 PM
 #53

Silly question, I'd say half a million BTC. I'm pretty surprised people think BTC will be worth 10k lol.
Yeah - total FUD. It doesn't matter what BTC holders think it should be valued at, it only matters what price people are willing to pay at the point of purchase. Taking a guess there is only around 1 million BTC holders WORLDWIDE. Adding in current thoughts from the general population on BTC as a currency I would say you would be very lucky to have $1000 BTC in 5 years, which means you would need 1000 BTC to be a millionaire. 

LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
January 16, 2015, 05:14:05 PM
 #54

How much Bitcoin do you think you would need to hold to become a millionaire?

to be safe, 1 million BTC .

goregrind
Full Member
***
Offline Offline

Activity: 148


View Profile
January 16, 2015, 05:14:47 PM
 #55

What most people don't realize is that if bitcoin ever reaches the moon then by that time
fiat will be worthless and you won't have any reason to exchange your bitcoins for worthless paper.

woot?
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
January 16, 2015, 05:23:30 PM
 #56

What most people don't realize is that if bitcoin ever reaches the moon then by that time
fiat will be worthless and you won't have any reason to exchange your bitcoins for worthless paper.

could be true. people love to dream. goldbugs and stocks-bugs hope the same so i guess its normal  Wink

jonald_fyookball
Legendary
*
Offline Offline

Activity: 1218


Core dev leaves me neg feedback #abuse #political


View Profile
January 16, 2015, 05:27:33 PM
 #57

What most people don't realize is that if bitcoin ever reaches the moon then by that time
fiat will be worthless and you won't have any reason to exchange your bitcoins for worthless paper.

Depends what you mean by "the moon".  Fiat will be around in 5 years,
I absolutely guarantee it. 

Even if Bitcoin is 10k, 100k, or a million, there'll still be fiat.
It would  have to go a lot higher than that to replace all fiat.


johnyj
Legendary
*
Offline Offline

Activity: 1834


Beyond Imagination


View Profile
January 17, 2015, 03:33:16 AM
 #58

What most people don't realize is that if bitcoin ever reaches the moon then by that time
fiat will be worthless and you won't have any reason to exchange your bitcoins for worthless paper.

There are still communist countries forcing people to use fiat. Russia for example could make a law to put you in prison if you dare to use bitcoin

SargeR33
Member
**
Offline Offline

Activity: 112

★Bitin.io★ - Instant Exchange


View Profile
January 17, 2015, 06:19:11 AM
 #59

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

so you're saying Bitcoin will be worth $2 in 5 years... amazes me how many skeptics hang out here.  The value of Bitcoin is going to collapse 99% but you want to talk about Bitcoin and post...  don't get it.

Think about how many people know about bitcoin, then how many people mine bitcoin, then how many invest in bitcoin. The numbers are very small. Bitcoin is being ruined because its being abused by the Chinese. Why am I here? The concept is brilliant. The execution by the users is poor.

Bitcoin had potential. I've used bitcoin to exchange for goods with other bitcoiners, I do not support big companies who use bitcoin as a liquid item to dump for fiat. These people ruin BTC. They don't care what the BTC is worth, they only care about how fast it can be changed over to cash. Imagine you woke up tomorrow and BTC rocketed up to $1000. The amount of dumpers will flood the market with BTC and it will fall faster than last time.

There are many skeptics and for the right reasons. I'm a skeptic but I still support the product. I'm not here for profit, I'm here to use an alternative to fiat. If I wanted to transfer $500 to a friend via the internet, it could take 3 - 5 days. Bitcoins lets me transfer an particular amount in about an hour or less depending on fees. Fees are put back into the network, not one persons pocket.

tins
Hero Member
*****
Offline Offline

Activity: 574


View Profile
January 17, 2015, 06:46:55 AM
 #60

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

Half a million btc? You do realize there's only ever going to be 21 million total? 10k is probably far fetched but remember bitcoin was 1k with practically zero adoption. Imagine what would happen if we get mass adoption and it is used frequently all around the world? Then 10k wouldn't be so ridiculous in my opinion.

Wall Street went crazy saying Berkshire Hathaway's class A shares were overvalued when they hit $10,000 for the first time. In 2006, those Class A shares crossed over $100,000 per share. Less than 10 years later, they closed this week at nearly $225,000 per share.
With adoption and being at such an early stage with BTC, I don't see $10,000 all that far fetched after the next halving (or two). Bitcoin can (has already, to a small degree) revolutionize the payment industry with countless more utility uses. If we can stave off the ADD somewhat, the value per BTC could be beyond some of the most optimistic predictions.

Pages: « 1 2 [3] 4 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!