How do I get rich with Bitcoin?

[possumpi26]

Just got the app and made my first investment, anyone having luck with it?

[zeitgeist057]

You missed the big jump from when it was $9-$1000, then shot to $20K. Then another jump from $20K to $40K, but even that (X2) was not as big as the X20 jump.

Right now, your best bet is to just keep making smaller investments on a Dollar Cost Averaging basis, maybe every month, or every 6 months, put some disposable income into purchasing BTC. It's not going to be a "get rich quick" scheme, it will probably be 5-10 years before BTC passes the 1/4 million $ mark, but it might go to $1M in the upper end of that. It's not a sure thing.

There are other investments in the cryptocurrency world. Now is actually a good time to get in, and you can get $30 with $50 purchase of DFI with this link. or this QR code:

The reason I like DFI is the interest rate is really good, you can earn about 30% right now on the investment, and that's not even considering the price going up. It's not likely to go to tens or hundreds of thousands like BTC, but it's still a phenomenal return.

As someone who has done well in cryptocurrency, my advice is to diversify. Don't put all your investment $ in one place, and also don't just invest in crypto, have other investments as well. You can DM me if you want to talk about it more.

[Levin]

You can't, not like 5 years ago.

There is certainly a (questionable) argument that over the long term, the price will continue to rise. So you could see it as a long term (say 10 year) investment.

However, it is highly volatile, crypto is highly volatile in general. No one knows where the technology or regulation is going to go in 5 to 10 years time.

Also, the market cap of bitcoin is is $600 billion. That would mean it would require 6 trillion of investment to 10x your initial investment.

I mean, if you have some spare cash that you don't need and don't care if you lose, then go ahead. Just accept you might lose it all and don't be upset by that.

[GingerGuy]

What's the app? (didn't know there was one for it). I have co-workers that claim it's been huge for them, but, for several years now. I don't know if getting into it now will be as lucrative? Like everything else, there will come a point where it won't be, and/or fall. I think as far as investments go, it's hit and miss and you're just lucky if you make it big. I wouldn't have the expectation of "rich" with anything, ever. Otherwise everyone would be doing it and be rich.

[genericname85]

you don't. that ship has sailed. i mean it's still a viable investment. you will probably have more gains than with classical savings plans. but there won't ever be an extreme bump like in the beginning. so you will be able to make profit. but you won't get "rich". you "can" get rich with other cryptocoins but that's pretty much exactly like playing the lottery. you could become rich or everything you invested could suddenly be worth nothing.

[TommyMountainFigure]

I don't know, but from what I read it is on the decline at the moment, so not a good time to invest. At least if you are only in it for the short term.

[Redhead999]

Wait until the shares are at its lowest and buy as much as you can

[Astarlessnightsky]

Buy Bitcoin ans hope you can sell them at a higher price.

[D4nielv]

"the app"
Big oof, I'm sorry for your loss.

[TenkRealist]

Lol. "Get rich with bitcoin". You won't make jack off bitcoin now.

[jshm2]

You've made a mistake, kiddo. Bitcoin is not for beginners.

[PatriceONeal]

You hop in your time machine and invest a decade ago.

[EnglishEuropean]

You have it backwards. You get rich first, then you buy Bitcoin.

[Anonymous]

You can't. The people who got rich off of it, did so years ago.

[exitseven]

Forget it. That parade is OVAH.

[EdwinLivingston_]

Coins are unpredictable

[Anonymous]

Buy low, sell high, repeat.