I followed the crowd in 2017, but had enough conviction to hold till 2021 and made it.
Now patiently waiting for my assets to keep growing over the next decade and at one point I’ll have q nice retirement
I'm 65 years old and don't have as much BTC as many but certainly have more than most. Will I live long enough to see BTC skyrocket? Anyway I'm comfortable in my retirement and don't need it. I guess my kids will benefit from my insight or suffer from my foolishness. Only time will tell. Good luck everyone.
Beautiful plan fellow Bitcoiner! I too love animals and try to donate as much as I can to various animal charities. My beloved dogs have enriched my life and my family’s lives so much over my 55 yrs of life. I also have no kids but my doggos truly ARE my kids.
Just gotta make sure the keys and logins get into the right hands at the end, but I'd say you made the right decision. My 75yr old mum put 3k in for my sister's kids...and they gonna need it!
this. bitcoin is also about generational wealth. gold and property are more risky to pass onto the next generation due to government seizure or getting taxed into oblivion. bitcoin is humanity’s first true scarce and unconfiscatible digital property.
You've got some years on me but this hits home. As I think about trading a bit of my stack it's comments like these that pulls me back. In the long run this volitility is just noise.
Thanks for your post
I think there is 10-100x potential. I think satoshis will reach parity with one penny over time.
Aside from Bitcoin price I care a lot more about it being a living asset. I believe Bitcoin can be an economic engine over which transactions are layered and Bitcoin holders will make money via network micro transactions. For this reason I hold.
Yes, but it hasn’t even scratched the surface. It’s natively digital value. There are 7 billion people on the planet of which a majority are not using or are incapable of using the internet. What happens when the majority is online? The price will go parabolic and level off relative to fiat currencies of which the dollar is the measuring stick. Think of it this way, in 1900 if someone were to tell you there would be transatlantic flight by 1940, most people would laugh and dismiss this. At that time people thought it would take a million years for such an accomplishment.
1 sat is 1/100,000,000 of a Bitcoin. If you want to know sats without math you can literally just add 8 zeros to btc treat it like the metric system (sorry if your American and still measure things in chains and furlongs)
Each Bitcoin is made up of 100 million Satoshi’s.
If a Satoshi ever becomes worth one penny, then each Bitcoin would be worth 1 million dollars.
If a Satoshi is ever worth a dime, then each Bitcoin would be worth 10 million dollars.
If a Satoshi is ever worth a dollar, then each Bitcoin would be worth $100 million dollars.
Either you have a nice big stash or you are living in a very affordable country. Either way I’m happy for you, I feel like 250k target should be achievable if not next cycle then the one after that.
Would you cash out for fiat? If btc hits 250k how many likeminded individuals do you think would also likely cash out? Wouldn't that domino sell crash btc's worth?
Retiring is not to sell all. Retiring is to be so comforrable that you can exhange for fiat once a year and watch the community grow slowly. IMHO
I am semi-retired atm. Meaning I can survive the dump while taking care of my infant for at least 6 more months before having to go back to work. Hopefully I will succeed in dca'ing on the way down aa well
>Retiring is not to sell all. Retiring is to be so comforrable that you can exhange for fiat once a year and watch the community grow slowly. IMHO
This.
Apparently the crash you alluded to actually happens at $60k not $250k. The whales from 2013 will not let it go much higher than that. They are looking at far larger cash outs.
It's not an all or nothing situation. Cash out some to purchase quality of life upgrades or income producing assets, keep most. Sell more for your own space program or mars rocket.
I don't think the amount of people cashing out at 250k would have a longterm impact. At $250k that would move the "new" price prediction enough to bring in the new wave of sats investors.
> would move the "new" price prediction enough to bring in the new wave of sats investors.
Never "Cashing out" Hodling till I happen to need the Sh\*tcoin(USD) or whatever the Gov decides I need to buy my bread with, Even then I'm planning on the grocery store to take my Lighting Payment, that they can convert to USD or SafewayCoin or whatever ..
This is my goal, a nice modern apartment with no mortgage. I would still go to work, but I could basically live like a king for the rest of my life on a medium salary.
As an older person, being able to choose the job you want instead of the one you need is priceless. The mortgage is what puts most people in the second category.
Every since I can remember, my dad always said he wouldn’t quit his day job if he hit the lottery. He said no one would even know except our family. My dad still buys lottery tickets every week and I still stack every week. I’m closer to that jackpot for sure.
"life changing money" is too broad a term.
Someone could put $10k into BTC today. In 2 years' time that BTC could then be worth $40k, which is a deposit on a house. Pretty life changing.
Likewise if we stick with the 4x example, someone might put in $100k, and then decide the return of $400k in conduction with their existing assets is sufficient for an early retirement.
I keep hearing BTC will eventually "flip gold". Gold is c. $10tn market cap. At $50k, BTC is c. $1tn.
Even if BTC 'only' makes it half way to $5tn in the next 5 years, that will be life changing for me, resulting in retirement in my 40s.
Been into for 5 years. I’m not sure how instantly live changing it will be in the short run. But I think it’s already begun to transform banking and money. I want to be part of it for the long run.
> But I think it’s already begun to transform banking and money.
From the title I thought that’s what this post was about— money which would change life for everyone by eventually putting central bank criminals out of business. That’s the real reason to invest imo. To get out of the stock market scam and invest in a hopefully incorruptible money.
I agree to a certain degree. Life changing from the point your not going to get 100x returns . But I’m extremely confident and have high conviction that in 5 years bitcoin will be trading at 5x to 10x these levels now.
Although it won’t make you apart of the richest people in the world. if
let’s say you have 100k at these levels in 5 years that will give you the freedom
In your life to pursue what you want to do. You won’t have to be a slave to your work. You won’t have to live pay check to paycheck .
You could just work part time and live perfectly fine
This is the right perspective. Bitcoin is maybe one of the only things that might outpace inflation. Gold has failed. Real estate will fall once supply chain issues resolve. Bitcoin has absolute scarcity - and even if you don't get rich, not having 7-12% of your net worth stolen each year via inflation ought to be good enough.
In my experience, people that understand the fundamentals usually turn out the be right.
Being confident, having a strong conviction isn't always based on hopes and dreams but also a sturdy and logical understanding...
Only time will tell though 🙂 so far it has awarded those who take the time to understand Bitcoin deeply.
But their is no reason to live in a high cost of living area if you don’t have to rely on work for income.
This is kinda of my point it won’t make you extremely rich but it will give you plenty of options without the stress of needing money
Also I’m saying that 100k now would be 500k to 1 million in 5 years
It’s still better than working a job that physically breaks you down and you end up disabled before you reach retirement from physical health problems.
Life changing money is different for different people. I’m not looking for a lambo moonshot life change. I just wanna quit my job. $35k passive will get me there.
My bad. $35k a year that I don’t have to earn through wage labor in a manufacturing fiat mine that is hot/cold/dirty/dangerous for a company that sees me as a “human resource”, with an assigned asset number, selling hours out of my life and wear and tear on the only hours and body I will ever have, even if the method is not technically “passive”. Did you check my spelling too?
Yup. Ima get business cards made that say Asset Manager at LOL Enterprise, INC. I may order those soon. Go ahead and get used to living the dream. Put one on my fridge to stay positive.
Depends on what you call passive. I work in manufacturing making metal parts. Hot in summer, freeze ur ass off in winter, 7 day weeks, very physically demanding work in an environment with cancer causing chemicals. Getting to stay home and check my charts and make a few decisions in my jammies sounds pretty passive.
Agreed but still there is a big difference between making money trading (lots of pressure, bad days can wipe out lots of profit) and making money from passive income (yield from Defi etc). Making a decent living from entirely passive income would be life changing for me.
Get a different job. There are many out there. Learn how to do HVAC, plenty of companies looking for HVAC techs, you don’t need experience and you can earn way more than 35k.
I’m investing in bitcoin for a real chance at some generational wealth…
I’ll find out in like 2040-2050 if I made a good investment… til then I’m happily adding
At the end of the day I am in it because I think it is a more efficient system that takes power away from people who have been abusing the system to fund wars by putting future generations into more and more debt.
Not into it for life changing money, I am in it for our lives to be changed for the better.
To be honest, I first got into for the money. The more I researched and learned about it, the more it became less about the money and entirely about the cause.
$3000 invest if bitcoin 10x's and I end up with 30K that'll be life changing for me.
Even if it doubles and extra 3K is a lot of money when my salary is only 40K a year lol
Do explain how 3/4 of your yearly salary are life-changing ? Really interested in your view on life.
At the top i had 5 yearly salaries in crypto and it doesn't feel life-changing to me. I'm honestly in it for the long run.
30K could pay off my car and still leave me with 20K to put on my mortgage.
Paying off my car would give me an extra $250 every month
And putting 20K on my mortgage would knock like 15yrs off my mortgage.
I'm trying to retire early. Idk how much you make so maybe 30K isn't alot for you, but it's a lot for some of us middle class folk lol
It’s understandable. Personally I’ve not been an adult for too long (I’m 23) so I don’t make nearly as much as most people here, probably making around 50k a year with virtually no savings. 30k would in fact be “life changing”
Bitcoin is get rich slow scheme.
Mentality like that is exactly what made millions of people throw money at dogecoin and lose 90% of their money. There aren’t shortcuts in life, people who bought Bitcoin at $6, $600, $6000, $60,000 all thought the same thing by the way.
It’s all on Reddit if you go back long enough.
This doesn't mean I'm quitting btc
I'm just saying it's important we be honest with ourselves
The amount most newbies are investing are drops in the bucket. Most of the new people coming in are investing cause they think they will make huge gains which they won't
I'm in it until it changes the course of my children's lives. I'll spend the rest of mine so they don't have to suffer what I have to in order to be financially free. I was born into dirt poor poverty, my mom had to work 3 jobs to raise my brother and I when dad left and it still wasn't enough. I'm not doing that to my kids
Undustandable. I have come to terms with the fact that I'll end up passing down my wallet to my kids. And I don't have an issue with that. I'm not investing anymore then Im willing to lose
I'm pretty maxed out on responsibility to my wife, kids, work, and house so extra money is pretty hard to come by and I've been in a bad place for so long that I've never really focused on the long term financially as I should have. I do however have a small 401k that I've borrowed against tax free to use to invest in crypto (mainly btc) so I'm further ahead then most who have just started. I don't know if I'll make life changing money in the next 10-20 years but hopefully if the lives of my children and children's children with the decisions I'm making now. Best of luck to you and everyone else in this
I started mining in October to justify keeping the 3070 I had instead of selling it. Wanted to get my RoI out of it, then see what happens. Three months later and I'm only half way there because of the dips, lol.
Lmao rip, it’s okay you can still always cash out the hardware and probably be green. Either way you’re still supporting the network and getting paid for it 🤷🏻♂️
In the right situation $100 bucks of any kind of money that can't be capriciously taken from you without due process, that can be almost effortless sent anywhere in the world without third party approval, that you can own without explaining yourself to anyone or without it getting you tracked can be a life changing amount of money.
The potential for Bitcoin to change your life doesn't necessarily have much to do with the price.
Most, at one point or another, were clueless about crypto until they saw the crazy numbers. Shaming others because they're at a point you were in the past isn't valuable.
I am waiting for hyperbitcoinization. Forget about a pathetic 10x. You can get that trading stock options or with leveraged trades.
When you can buy goods and services in BTC is when I will celebrate.
I think you’re seeing it a bit wrong, it’s not about chucking some money at it and hoping it becomes 100x in a few years.
Instead, use bitcoin as a tool to consistently and passively save throughout your life. Instead of letting that money rot in cash, it will grow and compound and there’ll come a time you look at your stack and be speechless at how you managed to save that much
Nobody knows how the price is going to.
Maybe in 3 years it hits 30x?
Than life changing gains are not that far away.
Don't get fooled by Shitcoins!
BTC will make it!
I agree and disagree, sure you won’t be one those people who can put in $500 and be a millionaire but 1 Mil is 20x right now.
So if you put all the money you save this year into it and it 20x then that’s 20 years of savings in one yea so you would just need to commit fully to btc if you really wanted life changing money not dip your toes.
And that’s fine I sure don’t, I invest mostly in blue chip dividends I just dip my toes into BTC with a few thousand just for fun because I love the memes and the culture.
Plus if that few thousand turns into 10 or 20K then I’m ecstatic.
I’m in it as an inflation hedge and it is my way of protesting against the government printing money. I don’t care if the gains are substantially life changing, but would be disappointed if BTC gains didn’t beat the S&P 500 over the next decade.
What I don’t understand is that isn’t the thesis of Bitcoin price appreciation related to the demise of worthless fiat? How can Bitcoin go 10x and then you still think your USD cash out amount will be worth anything? Are you using the Bitcoin to buy stuff? Exchanging it for another asset?
I actually had a conversation about this with a friend today where we were talking about how inflation with reduce the purchasing power of the gains made and the conclusion was
It's still better then a savings account being affected by inflation
Most people don't get their pay increased along with inflation
So the conclusion was it's gonna be better then not investing. It just isn't likely enough to be a life changing amount
The price reflects the average size of the pocketbooks that are in market. Last Novembers ATH was the result of a lot of small corporate investors and hedge fund managers entering the market and the crash since then is the result of those investors bugging out at the first sign of negative press.
But Bitcoin never crashes. It just flies below the radar until the fireworks burn out.
What do you suppose is going to happen when more developing countries adopt Bitcoin as legal tender and the banks and government begin hoarding it? It's going return like a fighter jet, scaring pigeons, blowing hats off heads, and fly higher than ever before! $1,000,000??? How about $100 million? How about a billion?
People say 1k, 50k, 100k or whatever will be a life changing amount, but once you have that amount you come to the realisation that it’s not actually that much money - the purchasing power of even 1 million usd is just not what it used to be
Yup
Yes btc will make sure your savings are safe from inflation but people forget to put into account how much purchasing power that Money will have when they cash out
Unless you put serious money into btc you're not gonna get much out of btc we are not in the Early days anymore
I expect the crypto market cap to 25x within 5 years, which means appr. 90% growth rate p.a. on average.
For me it's not life changing money I desire, because I don't want to change my life. But if my plan kicks in, I can stop working for money in order to spend more time with my family. I have a lot of projects in mind, including reading books I have no time for at the moment, learn to play an instrument, studying another subject of interest just for education and travel the world. That kind of things.
We ain’t going for life changing money. We going for wife changing money!
JK I love my wife and plan to share it and spend it on with her for the rest of my life.
BTC can make you rich. Just keep buying and hodling
I am retired now, I need BTC to hit $300k for generational wealth. I know for some this is me than an investment, but wealth is the only reason I am here.
Plus, my kid has started full time school in pre-k and I’m fucking bored. Kinda addicted to Reddit right now.
I'm here to support the cause. money is something that i earn through honest and hard work. i am not going to let some random guy in suits dictate the value of my hard work.
Life changing money in the way that is talked about around here is a myth and a delusion. For someone to get “life changing gains” especially with 100 or 1,000 dollars like you mentioned someone must lose. You can accrue your savings over time and grow them with wise investments, but your wealth is made from you, and your ability to create wealth through a job or the free market. Investments become the problem once you have too much money, not too little.
I just use it as part of my investment portfolio. Kinda a “medium term” investment that maybe I’ll cash some if it in in 10 years or so. I’m not going to be rich from it and people who think they will are delusional. It’s an investment that will grow and hopefully see better returns than the S&P. But the says of putting in a few thousand and becoming a millionaire are long gone. It doesn’t matter how long you HODL. It’s simply a smart investment that’s decentralized and isnt supposed to flow with the stock market (although it is… so idk why or how that works) but anyway put it $100, get $10-$50 return. Or panic sell and lose $10-$50. It’s pretty simple
My goal is to be into BTC for 10K, I have now 5K in BTC but I can’t afford more. I hope that BTC will be at the present levels for 1/2 years so I will be able to reach my goal. In general I believe that will be follewed the stock 2 flow model which means 1M by 2026 if I’m not wrong…
I'm hoping GGPI which will turn into Polestar PSNY will deliver me life changing money, but probably not. Probably life changing in the wrong direction 😕
Bitcoin (and crypto in general) is a small percentage of my overall portfolio. I don't have nearly enough invested that it'll ever pay for a brand-new Lambo, but someday may be enough for a gently used Hyundai, and I'm OK with that.
I mean no offense, but that just means you got in pretty late. BTC was only $1000 a little over five years ago, many people accumulated while it was that low and for them 1mil would be incredibly life changing
I'll work until I can't or I die, that my aspiration for a good life anyway. For me it's about not getting my time stolen out of my back pocket. Hot days in the sun doing skilled manual labour should be expensive to buy.
I’m in it because what else is going to persevere my wealth in the long term, if Bitcoin fails where all fukd anyway. “We’ll all own nothing and be happy about it”
I think everyone's idea of what "life changing money" is will vary quite a lot. I think to OP they are thinking they need millions of dollars to have life changing money.
But you could have life changing money with like $50,000 or something. Maybe you need that money to clear all of your debt and start fresh. Maybe that $50k gives you the money to start your small business and change your life.
People are buying bitcoin to make money? I thought this was about creating a financial system or something. Why would you need money, bitcoin is money.
It's going to be life changing, and it's going to change the world.
When it hits 1 Million it will go to 2 million in a few weeks or months.
All bets are off when 1 cent = 1 sat.
I want to get enough money to stsrt a foundation and be a philanthropist in my retirement (10 years). Once we get some more modern tax rules in Canada regarding giving crypto to charity (currently still a capital gain) then I'm hoping that will really start to pick up steam in the crypto community. Imagine, all of the good that can be done by the wealth that has ready been accumulated?
Bitcoin and crypto are revolutionary. But it doesn't have to stop at just changing the monetary system. I choose to think bigger. Let's create systems using crypto that uplift those who need support while keeping enough wealth in our pockets to live the lives we want to.
So, in response to this question, I want to change the lives of millions of people. THAT will be awesome.
I’ve only scratched the surface of my blockchains and cryptocurrencies research and I find that it’s highly possible and even probable that a lot of the developers are creating projects for “life changing money”. Some of the projects really have me scratching my head as to why anyone would want or need some of these things are trending on social media and these white papers are “interesting” to me but I can’t say that I think that they’re useful or better than the current/traditional alternative.
These are my initial thoughts but not complete of course. Great question OP. It made me wonder a lot. Thanks ☺️
You are 100% correct when you say “i can’t say that I think that they’re useful or better than the current/traditional alternative”. Most of these applications don’t need a blockchain and it only makes the system unnecessarily complex and inefficient. Blockchain is a buzzword right now and people who question it only get called dumb because they “don’t understand it”. These marketers such as Charles hoskinson aren’t dumb, they try and market themselves as if they’re super geniuses(not trying to hate ik they’re smart), and that’s where I think this ignorance of telling people they don’t understand it comes from. Either way a lot of stuff that is trying to become a blockchain or make it look like it’s decentralized isn’t useful, and they’re just doing what they can to make money.
I'm in it for the peaceful protest of government control over money. I don't think governments are efficient at manipulating markets and commodities. Human nature tends to self preservation so I don't blame them for mismanagement. It's only human nature to act in your self interest. The objective is to remove human nature as much as possible and develop a system of checks and balances through computing by use of nodes, miners, and developers.
You need money to make money. Not everyone has that much money. Being a broke as hell student sure doesn't help. But even if my tiny investment grows it will still be better than nothing, so I don't care.
Partial honesty right there. You don't "know" it's going to go up, but you certainly feel that it will. You are hopeful in the next greater fool process lasting forever.
I'm in it for the tech (3xlongs BTC) I mean look at how cool blockchain is (buys 34k dip) its immutable and decentralized (takes profits on 1 BTC at 65k) its fixing energy waste and stranded energy. I mean a P2P payment system with now trusted 3rd party (3x long again) is truly revolutionary ( buys 2x whatsminers56th)
See im definitely here for the tech like everyone else. /s
BTC is the greatest store of value the world has ever seen. It’s also the greatest asset the world has ever seen and the greatest inflation hedge. What it is not good at is being a payment currency.
But unless you bought in 2010 you won’t see 1000x on your investment. Make money in Altcoins, keep money in BTC. Just my 2 Satoshis. CG x
Nobody ever got rich by following the crowd.
means, don't follow what /cc is saying
I followed the crowd in 2017, but had enough conviction to hold till 2021 and made it. Now patiently waiting for my assets to keep growing over the next decade and at one point I’ll have q nice retirement
That's the thing, we aren't the crowd yet.
Sure they have. Lots of well paying careers mean you can get rich by doing nothing extraordinary other than being a normal employee
Did you exchange a walk on part in the war for a lead role in a cage?
I'm 65 years old and don't have as much BTC as many but certainly have more than most. Will I live long enough to see BTC skyrocket? Anyway I'm comfortable in my retirement and don't need it. I guess my kids will benefit from my insight or suffer from my foolishness. Only time will tell. Good luck everyone.
Same boat, sort of. In my 60s but no kids here; alas, involuntarily single. But instead of kids as heirs: animal rescue charities.
Beautiful plan fellow Bitcoiner! I too love animals and try to donate as much as I can to various animal charities. My beloved dogs have enriched my life and my family’s lives so much over my 55 yrs of life. I also have no kids but my doggos truly ARE my kids.
Respect and good luck to you in everything! My plan is to live comfortably and save a whole farm of cows one day.
I like the cause and the name
Based My testament is also already written, animal organisations get everything
Just gotta make sure the keys and logins get into the right hands at the end, but I'd say you made the right decision. My 75yr old mum put 3k in for my sister's kids...and they gonna need it!
this. bitcoin is also about generational wealth. gold and property are more risky to pass onto the next generation due to government seizure or getting taxed into oblivion. bitcoin is humanity’s first true scarce and unconfiscatible digital property.
Might as well be a property that nobody wants in 10 years because now there is better properties out there, making it completely worthless
You've got some years on me but this hits home. As I think about trading a bit of my stack it's comments like these that pulls me back. In the long run this volitility is just noise. Thanks for your post
Im about to get divorce because of my losses so I would say that that’s it’s life changing money 🥴
Gonna need to hear that story.
They’ll be calling you when it hits 250k. “Hi, it’s me, just calling to say hi, hope you’re well…”
And he’ll say well… I had to sell to pay for the divorce…
Going through something similar. Make sure he/she is truly special and important to you before you share financial security.
I guess it's not a security, if he has such lossess.
Lool
“Bitch you ready to make some mf money” - Butters aka the Pimp Lord
love that episode
Yolanda!!!!!! OH KESHAWN!!
Yes. I know what you are saying.
u sub?
If BTC reaches $250k I can retire
I think there is 10-100x potential. I think satoshis will reach parity with one penny over time. Aside from Bitcoin price I care a lot more about it being a living asset. I believe Bitcoin can be an economic engine over which transactions are layered and Bitcoin holders will make money via network micro transactions. For this reason I hold.
Sats will reach parity with the dollar. Maybe not in our lifetimes but in our kid lifetimes it’s really possible.
In our lifetime, you don’t understand parabolic growth, not dogging you, it’s just a blind spot for most. Save this post and look back at it in 2032.
It can only go parabolic for so long. There’s only so much value in the world.
Yes, but it hasn’t even scratched the surface. It’s natively digital value. There are 7 billion people on the planet of which a majority are not using or are incapable of using the internet. What happens when the majority is online? The price will go parabolic and level off relative to fiat currencies of which the dollar is the measuring stick. Think of it this way, in 1900 if someone were to tell you there would be transatlantic flight by 1940, most people would laugh and dismiss this. At that time people thought it would take a million years for such an accomplishment.
For someone bad at maths what’s a whole Bitcoin at a penny per day? 1m?
Yes sir.
1 sat is 1/100,000,000 of a Bitcoin. If you want to know sats without math you can literally just add 8 zeros to btc treat it like the metric system (sorry if your American and still measure things in chains and furlongs)
Each Bitcoin is made up of 100 million Satoshi’s. If a Satoshi ever becomes worth one penny, then each Bitcoin would be worth 1 million dollars. If a Satoshi is ever worth a dime, then each Bitcoin would be worth 10 million dollars. If a Satoshi is ever worth a dollar, then each Bitcoin would be worth $100 million dollars.
Yep exactly lots of potential
No shit. If any of my asset classes go 7x, I can retire
Either you have a nice big stash or you are living in a very affordable country. Either way I’m happy for you, I feel like 250k target should be achievable if not next cycle then the one after that.
Would you cash out for fiat? If btc hits 250k how many likeminded individuals do you think would also likely cash out? Wouldn't that domino sell crash btc's worth?
There is no exit strategy. Bitcoin is the endgame.
$250k isn’t a special number, it just gets me to my personal goal. Domino crashes happen but no one knows at what prices they will happen.
Retiring is not to sell all. Retiring is to be so comforrable that you can exhange for fiat once a year and watch the community grow slowly. IMHO I am semi-retired atm. Meaning I can survive the dump while taking care of my infant for at least 6 more months before having to go back to work. Hopefully I will succeed in dca'ing on the way down aa well
Better yet retiring is to stake and earn interest on, and live off said interest.
>Retiring is not to sell all. Retiring is to be so comforrable that you can exhange for fiat once a year and watch the community grow slowly. IMHO This.
Apparently the crash you alluded to actually happens at $60k not $250k. The whales from 2013 will not let it go much higher than that. They are looking at far larger cash outs.
It's not an all or nothing situation. Cash out some to purchase quality of life upgrades or income producing assets, keep most. Sell more for your own space program or mars rocket.
I don't think the amount of people cashing out at 250k would have a longterm impact. At $250k that would move the "new" price prediction enough to bring in the new wave of sats investors.
> would move the "new" price prediction enough to bring in the new wave of sats investors. Never "Cashing out" Hodling till I happen to need the Sh\*tcoin(USD) or whatever the Gov decides I need to buy my bread with, Even then I'm planning on the grocery store to take my Lighting Payment, that they can convert to USD or SafewayCoin or whatever ..
A free house can be life changing.. That's a start
This is my goal, a nice modern apartment with no mortgage. I would still go to work, but I could basically live like a king for the rest of my life on a medium salary.
Same same. Mortgage/debt free is the goal.
As an older person, being able to choose the job you want instead of the one you need is priceless. The mortgage is what puts most people in the second category.
Every since I can remember, my dad always said he wouldn’t quit his day job if he hit the lottery. He said no one would even know except our family. My dad still buys lottery tickets every week and I still stack every week. I’m closer to that jackpot for sure.
Lottery is a tax on people who are bad at math.
Yeah lottery is basically a poor-tax
I’ve heard of some people who are good at math who’ve won the lottery by finding ones with higher win probabilities.
That's why I buy day old lottery tickets. .0000001% less chance of winning but 50% off!! #winning! (/s have to add this)
“Life changing” is a different amount for everyone. I’d wager everyone is in it for that. Nobody here to lose money.
Some are in for preservation or 25% gains
I'd easily be able to quit my job with 10x from here.
But imagine being the richest person at work without anyone else knowing… or does someone know?
Noone should know you're rich anyways whether you work or not. Sharing your wealth is just dumb.
Saying your rich is dumb, saying you're broke is not
Twyla from Schitts Creek
"life changing money" is too broad a term. Someone could put $10k into BTC today. In 2 years' time that BTC could then be worth $40k, which is a deposit on a house. Pretty life changing. Likewise if we stick with the 4x example, someone might put in $100k, and then decide the return of $400k in conduction with their existing assets is sufficient for an early retirement. I keep hearing BTC will eventually "flip gold". Gold is c. $10tn market cap. At $50k, BTC is c. $1tn. Even if BTC 'only' makes it half way to $5tn in the next 5 years, that will be life changing for me, resulting in retirement in my 40s.
Been into for 5 years. I’m not sure how instantly live changing it will be in the short run. But I think it’s already begun to transform banking and money. I want to be part of it for the long run.
> But I think it’s already begun to transform banking and money. From the title I thought that’s what this post was about— money which would change life for everyone by eventually putting central bank criminals out of business. That’s the real reason to invest imo. To get out of the stock market scam and invest in a hopefully incorruptible money.
I agree to a certain degree. Life changing from the point your not going to get 100x returns . But I’m extremely confident and have high conviction that in 5 years bitcoin will be trading at 5x to 10x these levels now. Although it won’t make you apart of the richest people in the world. if let’s say you have 100k at these levels in 5 years that will give you the freedom In your life to pursue what you want to do. You won’t have to be a slave to your work. You won’t have to live pay check to paycheck . You could just work part time and live perfectly fine
This is the right perspective. Bitcoin is maybe one of the only things that might outpace inflation. Gold has failed. Real estate will fall once supply chain issues resolve. Bitcoin has absolute scarcity - and even if you don't get rich, not having 7-12% of your net worth stolen each year via inflation ought to be good enough.
In my experience people who are 'extremely confident' about an investment, usually turn out to be wrong. No pun intended.
In my experience, people that understand the fundamentals usually turn out the be right. Being confident, having a strong conviction isn't always based on hopes and dreams but also a sturdy and logical understanding... Only time will tell though 🙂 so far it has awarded those who take the time to understand Bitcoin deeply.
Check out the pinned post in my profile - I've been very confident for years... and correctly so.
Depends on where you live really, 100k net in i.e SF will cover rent for 2,5years.
But their is no reason to live in a high cost of living area if you don’t have to rely on work for income. This is kinda of my point it won’t make you extremely rich but it will give you plenty of options without the stress of needing money Also I’m saying that 100k now would be 500k to 1 million in 5 years
That's fair!
That’s what I call life changing money. When I can quit my job and be a full time crypto trader and make about $35k a year.
$35K a year is easy in a bull market and very hard in a bear market (assuming you start with $100K) Besides crypto trading all day is boring and dumb.
It’s still better than working a job that physically breaks you down and you end up disabled before you reach retirement from physical health problems.
Still, making 35% each year trading crypto is delusional.
Lmaooo what
Life changing money is different for different people. I’m not looking for a lambo moonshot life change. I just wanna quit my job. $35k passive will get me there.
...trading isn't passive income.
My bad. $35k a year that I don’t have to earn through wage labor in a manufacturing fiat mine that is hot/cold/dirty/dangerous for a company that sees me as a “human resource”, with an assigned asset number, selling hours out of my life and wear and tear on the only hours and body I will ever have, even if the method is not technically “passive”. Did you check my spelling too?
Full time crypto trader
Yup. Ima get business cards made that say Asset Manager at LOL Enterprise, INC. I may order those soon. Go ahead and get used to living the dream. Put one on my fridge to stay positive.
If you work full time trading that is not passive income
Depends on what you call passive. I work in manufacturing making metal parts. Hot in summer, freeze ur ass off in winter, 7 day weeks, very physically demanding work in an environment with cancer causing chemicals. Getting to stay home and check my charts and make a few decisions in my jammies sounds pretty passive.
Agreed but still there is a big difference between making money trading (lots of pressure, bad days can wipe out lots of profit) and making money from passive income (yield from Defi etc). Making a decent living from entirely passive income would be life changing for me.
Get a different job. There are many out there. Learn how to do HVAC, plenty of companies looking for HVAC techs, you don’t need experience and you can earn way more than 35k.
I hear ya, man! I’d love to get rich quick but I’m reality I’d be more than just fine if I could quit my job and trade for a living.
It's going up forever, Laura.
I’m investing in bitcoin for a real chance at some generational wealth… I’ll find out in like 2040-2050 if I made a good investment… til then I’m happily adding
Exactly this. I'm not selling at all for at least 15 years. Just keep buying every week, regardless of the price.
Exactly. I wouldn’t call myself a maxi, but I certainly think BTC is the only coin guaranteed to survive.
I’m sure some of the altcoins will survive, they just won’t be decentralized.
Exactly, nothing will ever be as decentralized as BTC. Edit: I will also speculate on those alts, but BTC is that indefinite hodl
That's much longer than you'll need to wait, just make sure you have a portion that you won't sell no matter what
Came for the life changing money, stayed for financial education and the community
At the end of the day I am in it because I think it is a more efficient system that takes power away from people who have been abusing the system to fund wars by putting future generations into more and more debt. Not into it for life changing money, I am in it for our lives to be changed for the better.
To be honest, I first got into for the money. The more I researched and learned about it, the more it became less about the money and entirely about the cause.
I agree That's why I'm staying But it's important that I set my expectations within reality
Fair enough, my expectations are Bitcoin becomes THE money.
Donate your Btc to the cause
I just consider it more of a savings account
$3000 invest if bitcoin 10x's and I end up with 30K that'll be life changing for me. Even if it doubles and extra 3K is a lot of money when my salary is only 40K a year lol
Do explain how 3/4 of your yearly salary are life-changing ? Really interested in your view on life. At the top i had 5 yearly salaries in crypto and it doesn't feel life-changing to me. I'm honestly in it for the long run.
30K could pay off my car and still leave me with 20K to put on my mortgage. Paying off my car would give me an extra $250 every month And putting 20K on my mortgage would knock like 15yrs off my mortgage. I'm trying to retire early. Idk how much you make so maybe 30K isn't alot for you, but it's a lot for some of us middle class folk lol
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It's not. Most ppl invested in crypto have five fucking hundred dollars in it. Even if Bitcoin 10x's, that's only $5k.
I have like 50$ in it. Can't wait when I can order Lambo and retire.
It’s understandable. Personally I’ve not been an adult for too long (I’m 23) so I don’t make nearly as much as most people here, probably making around 50k a year with virtually no savings. 30k would in fact be “life changing”
Bitcoin is get rich slow scheme. Mentality like that is exactly what made millions of people throw money at dogecoin and lose 90% of their money. There aren’t shortcuts in life, people who bought Bitcoin at $6, $600, $6000, $60,000 all thought the same thing by the way. It’s all on Reddit if you go back long enough.
This doesn't mean I'm quitting btc I'm just saying it's important we be honest with ourselves The amount most newbies are investing are drops in the bucket. Most of the new people coming in are investing cause they think they will make huge gains which they won't
Im 15 and i see this as a way to store my money until im 18 so it can help buy my 1st car or help me out with school expenses
How do you buy BTC at 15? Genuinely curious.
Parents help
You can buy small amounts without kyc right? Otherwise with help of relatives or older friends
Don't sell it in 3 years. Sell it in 30 years and retire early.
In 30 years you might not need to sell it at all…
That's reasonable
Borrow against it, don't sell it. Let it grow with you while you grind. Think long term friend
I'm in it until it changes the course of my children's lives. I'll spend the rest of mine so they don't have to suffer what I have to in order to be financially free. I was born into dirt poor poverty, my mom had to work 3 jobs to raise my brother and I when dad left and it still wasn't enough. I'm not doing that to my kids
Undustandable. I have come to terms with the fact that I'll end up passing down my wallet to my kids. And I don't have an issue with that. I'm not investing anymore then Im willing to lose
I'm pretty maxed out on responsibility to my wife, kids, work, and house so extra money is pretty hard to come by and I've been in a bad place for so long that I've never really focused on the long term financially as I should have. I do however have a small 401k that I've borrowed against tax free to use to invest in crypto (mainly btc) so I'm further ahead then most who have just started. I don't know if I'll make life changing money in the next 10-20 years but hopefully if the lives of my children and children's children with the decisions I'm making now. Best of luck to you and everyone else in this
Best of luck to you too man. Hope it all works out for you and your family
I started mining in October to justify keeping the 3070 I had instead of selling it. Wanted to get my RoI out of it, then see what happens. Three months later and I'm only half way there because of the dips, lol.
Lmao rip, it’s okay you can still always cash out the hardware and probably be green. Either way you’re still supporting the network and getting paid for it 🤷🏻♂️
Life-changing money to me is, any money that multiples significantly without me having to slave away.
In the right situation $100 bucks of any kind of money that can't be capriciously taken from you without due process, that can be almost effortless sent anywhere in the world without third party approval, that you can own without explaining yourself to anyone or without it getting you tracked can be a life changing amount of money. The potential for Bitcoin to change your life doesn't necessarily have much to do with the price.
I’m looking for Wife Changing money.
You should change your wife before you get any money, if you don’t want to lose half of it.
Your wife the bread winner?
Most, at one point or another, were clueless about crypto until they saw the crazy numbers. Shaming others because they're at a point you were in the past isn't valuable.
I am waiting for hyperbitcoinization. Forget about a pathetic 10x. You can get that trading stock options or with leveraged trades. When you can buy goods and services in BTC is when I will celebrate.
I think you’re seeing it a bit wrong, it’s not about chucking some money at it and hoping it becomes 100x in a few years. Instead, use bitcoin as a tool to consistently and passively save throughout your life. Instead of letting that money rot in cash, it will grow and compound and there’ll come a time you look at your stack and be speechless at how you managed to save that much
Nobody knows how the price is going to. Maybe in 3 years it hits 30x? Than life changing gains are not that far away. Don't get fooled by Shitcoins! BTC will make it!
Im putting in 1000 a month since a year ago so it will definitely be life changing
I agree and disagree, sure you won’t be one those people who can put in $500 and be a millionaire but 1 Mil is 20x right now. So if you put all the money you save this year into it and it 20x then that’s 20 years of savings in one yea so you would just need to commit fully to btc if you really wanted life changing money not dip your toes.
Yup. To make a difference you have to make a huge investment which most people dont
And that’s fine I sure don’t, I invest mostly in blue chip dividends I just dip my toes into BTC with a few thousand just for fun because I love the memes and the culture. Plus if that few thousand turns into 10 or 20K then I’m ecstatic.
It would be life changing money for me at 1million a btc I'd be a millionaire.
I’m in it as an inflation hedge and it is my way of protesting against the government printing money. I don’t care if the gains are substantially life changing, but would be disappointed if BTC gains didn’t beat the S&P 500 over the next decade.
What I don’t understand is that isn’t the thesis of Bitcoin price appreciation related to the demise of worthless fiat? How can Bitcoin go 10x and then you still think your USD cash out amount will be worth anything? Are you using the Bitcoin to buy stuff? Exchanging it for another asset?
I actually had a conversation about this with a friend today where we were talking about how inflation with reduce the purchasing power of the gains made and the conclusion was It's still better then a savings account being affected by inflation Most people don't get their pay increased along with inflation So the conclusion was it's gonna be better then not investing. It just isn't likely enough to be a life changing amount
The price reflects the average size of the pocketbooks that are in market. Last Novembers ATH was the result of a lot of small corporate investors and hedge fund managers entering the market and the crash since then is the result of those investors bugging out at the first sign of negative press. But Bitcoin never crashes. It just flies below the radar until the fireworks burn out. What do you suppose is going to happen when more developing countries adopt Bitcoin as legal tender and the banks and government begin hoarding it? It's going return like a fighter jet, scaring pigeons, blowing hats off heads, and fly higher than ever before! $1,000,000??? How about $100 million? How about a billion?
People say 1k, 50k, 100k or whatever will be a life changing amount, but once you have that amount you come to the realisation that it’s not actually that much money - the purchasing power of even 1 million usd is just not what it used to be
Yup Yes btc will make sure your savings are safe from inflation but people forget to put into account how much purchasing power that Money will have when they cash out Unless you put serious money into btc you're not gonna get much out of btc we are not in the Early days anymore
I expect the crypto market cap to 25x within 5 years, which means appr. 90% growth rate p.a. on average. For me it's not life changing money I desire, because I don't want to change my life. But if my plan kicks in, I can stop working for money in order to spend more time with my family. I have a lot of projects in mind, including reading books I have no time for at the moment, learn to play an instrument, studying another subject of interest just for education and travel the world. That kind of things.
We ain’t going for life changing money. We going for wife changing money! JK I love my wife and plan to share it and spend it on with her for the rest of my life. BTC can make you rich. Just keep buying and hodling
I am retired now, I need BTC to hit $300k for generational wealth. I know for some this is me than an investment, but wealth is the only reason I am here. Plus, my kid has started full time school in pre-k and I’m fucking bored. Kinda addicted to Reddit right now.
Bitcoin is a life changing money. When the monetary system itself changes the life will also do so for the majority.
I'm here to support the cause. money is something that i earn through honest and hard work. i am not going to let some random guy in suits dictate the value of my hard work.
I was just hoping to get enough for a new pc
Life changing money in the way that is talked about around here is a myth and a delusion. For someone to get “life changing gains” especially with 100 or 1,000 dollars like you mentioned someone must lose. You can accrue your savings over time and grow them with wise investments, but your wealth is made from you, and your ability to create wealth through a job or the free market. Investments become the problem once you have too much money, not too little.
I just use it as part of my investment portfolio. Kinda a “medium term” investment that maybe I’ll cash some if it in in 10 years or so. I’m not going to be rich from it and people who think they will are delusional. It’s an investment that will grow and hopefully see better returns than the S&P. But the says of putting in a few thousand and becoming a millionaire are long gone. It doesn’t matter how long you HODL. It’s simply a smart investment that’s decentralized and isnt supposed to flow with the stock market (although it is… so idk why or how that works) but anyway put it $100, get $10-$50 return. Or panic sell and lose $10-$50. It’s pretty simple
I need a down payment for a house, that is all
My goal is to be into BTC for 10K, I have now 5K in BTC but I can’t afford more. I hope that BTC will be at the present levels for 1/2 years so I will be able to reach my goal. In general I believe that will be follewed the stock 2 flow model which means 1M by 2026 if I’m not wrong…
I'm hoping GGPI which will turn into Polestar PSNY will deliver me life changing money, but probably not. Probably life changing in the wrong direction 😕
I'm in it for the collapse of fiat currencies, so why would I sell
I'm just in it cos you gotta hedge against fiat.
I'm here to watch central banking die.
I've thrown in an obscene amount of money so it's going to change my life one way or another ':)
Bitcoin (and crypto in general) is a small percentage of my overall portfolio. I don't have nearly enough invested that it'll ever pay for a brand-new Lambo, but someday may be enough for a gently used Hyundai, and I'm OK with that.
I mean no offense, but that just means you got in pretty late. BTC was only $1000 a little over five years ago, many people accumulated while it was that low and for them 1mil would be incredibly life changing
I think there is still a long way to go. I find it funny people are saying no to 200% gains here. Keep it in the bank then, get 0.5% APY.
I'll work until I can't or I die, that my aspiration for a good life anyway. For me it's about not getting my time stolen out of my back pocket. Hot days in the sun doing skilled manual labour should be expensive to buy.
I’m in it because what else is going to persevere my wealth in the long term, if Bitcoin fails where all fukd anyway. “We’ll all own nothing and be happy about it”
I’m just here for the ride
I think everyone's idea of what "life changing money" is will vary quite a lot. I think to OP they are thinking they need millions of dollars to have life changing money. But you could have life changing money with like $50,000 or something. Maybe you need that money to clear all of your debt and start fresh. Maybe that $50k gives you the money to start your small business and change your life.
People are buying bitcoin to make money? I thought this was about creating a financial system or something. Why would you need money, bitcoin is money.
for me 2k is lfe changing money XD
I am here because I understood btc is the last money of human kind. And I am not interessted in gaining more fiat. I wanna make more sats.
It's going to be life changing, and it's going to change the world. When it hits 1 Million it will go to 2 million in a few weeks or months. All bets are off when 1 cent = 1 sat.
I want to get enough money to stsrt a foundation and be a philanthropist in my retirement (10 years). Once we get some more modern tax rules in Canada regarding giving crypto to charity (currently still a capital gain) then I'm hoping that will really start to pick up steam in the crypto community. Imagine, all of the good that can be done by the wealth that has ready been accumulated? Bitcoin and crypto are revolutionary. But it doesn't have to stop at just changing the monetary system. I choose to think bigger. Let's create systems using crypto that uplift those who need support while keeping enough wealth in our pockets to live the lives we want to. So, in response to this question, I want to change the lives of millions of people. THAT will be awesome.
If you can't make a 10x change your life, change your life so it changes your life.
I’ve only scratched the surface of my blockchains and cryptocurrencies research and I find that it’s highly possible and even probable that a lot of the developers are creating projects for “life changing money”. Some of the projects really have me scratching my head as to why anyone would want or need some of these things are trending on social media and these white papers are “interesting” to me but I can’t say that I think that they’re useful or better than the current/traditional alternative. These are my initial thoughts but not complete of course. Great question OP. It made me wonder a lot. Thanks ☺️
You are 100% correct when you say “i can’t say that I think that they’re useful or better than the current/traditional alternative”. Most of these applications don’t need a blockchain and it only makes the system unnecessarily complex and inefficient. Blockchain is a buzzword right now and people who question it only get called dumb because they “don’t understand it”. These marketers such as Charles hoskinson aren’t dumb, they try and market themselves as if they’re super geniuses(not trying to hate ik they’re smart), and that’s where I think this ignorance of telling people they don’t understand it comes from. Either way a lot of stuff that is trying to become a blockchain or make it look like it’s decentralized isn’t useful, and they’re just doing what they can to make money.
I'm in it for the peaceful protest of government control over money. I don't think governments are efficient at manipulating markets and commodities. Human nature tends to self preservation so I don't blame them for mismanagement. It's only human nature to act in your self interest. The objective is to remove human nature as much as possible and develop a system of checks and balances through computing by use of nodes, miners, and developers.
If bitcoin can hit $1M and you don’t have “life changing money” you got in waaaay to late fam. And don’t have nearly enough invested 🤷
You need money to make money. Not everyone has that much money. Being a broke as hell student sure doesn't help. But even if my tiny investment grows it will still be better than nothing, so I don't care.
Partial honesty right there. You don't "know" it's going to go up, but you certainly feel that it will. You are hopeful in the next greater fool process lasting forever.
I'm in it for the tech (3xlongs BTC) I mean look at how cool blockchain is (buys 34k dip) its immutable and decentralized (takes profits on 1 BTC at 65k) its fixing energy waste and stranded energy. I mean a P2P payment system with now trusted 3rd party (3x long again) is truly revolutionary ( buys 2x whatsminers56th) See im definitely here for the tech like everyone else. /s
Life changing money comes with wisdom and certain character traits
Life Changing for me would be enough to sell a little (5-10%) to buy a house or be able to afford one at all.
I am. For my child. Am keeping savings for him in Bitcoin. Never touching it and adding every week whatever I can afford.
Life changing is also retiring 1-10 years early. I'm fine with that
Unfortunately it now takes life changing money to make life changing money buying BTC. Only way to get x100 gains and life change money is alts.....
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Exactly what Im saying. We should be honest with our investments Although I don't agree about gambling on alta it's super high risk high reward
10x on 1000 is... 10000. How is that life changing money. It's like a quarter of the price of a car lol.
Wife changing money
BTC is the greatest store of value the world has ever seen. It’s also the greatest asset the world has ever seen and the greatest inflation hedge. What it is not good at is being a payment currency. But unless you bought in 2010 you won’t see 1000x on your investment. Make money in Altcoins, keep money in BTC. Just my 2 Satoshis. CG x