Quote from: Marvelockg on Today at 01:04:58 PM

Quote from: Pi-network314159 on Today at 06:23:57 AM

Quote from: fredericktaylor on October 12, 2024, 12:44:56 PM

If you invest in the DCA method for four to five years from now, you will have a lot of bitcoins, and you will be rich. will be

Checking from his statement you will understand what I mean and why I replied what I did.

point of observations

1) investing in bitcoin through DCA for 4 to five years from now you will have a lot of bitcoin.

2) and you will be rich

Now how possible is that to achieve a lot of bitcoin in 4 to 5 year if he doesn't increase his accumulation process or discretion?

And how can he be rich so suddenly why we all knows that bitcoin is not a get rich quick scheme.

your definition of being rich might not be the same with his own definition of being rich and certainly, if you've stacked Bitcoin consistently for a period of 4 years, you're going to look rich regardless of how much you're using for your DCA.

If I'm earning $500 per month and I can afford to DCA $300 every month which for me is something that's 💯 realistic, by the end of the year, I have a groose Bitcoin that's worth $3.6k.

Even without doing it for a period of four years I will look really rich because it's not eaey to be disciplined to the point of owning such worth of Bitcoin for a year considering that I'm only earning $500 per month. If I continue buying it for the next 4 years, I must have had at least $14.4k worth of bitcon for that period of time and definitely Bitcoin would have gone past $120k by that time which means that my $14.4k worth of Bitcoin should be at least $25k. Now it's possible that Bitcoin might do better than that before the next four years or that it might not have gotten to that price which is the least possibility but regardless of what's the current Bitcoin price at the time, consistently doing DCA for 4 years is enough to have taken you to a Point that you might look rich. For others than earn way above $500k per month and can DCA with a larger amount, it's going to even be more advantageous for them.

Oooh God..you guys are making things complicated, now why don't you assume to receive $100 as salary in a month and invest $40 per month in DCA instead of $500 salary and $300 DCA? I expect you guys to give an amount lesser to define how little amount can make someone rich withing a specific period of between 4-5 year. I am trying to explain how any amount invested can not make you rich that's why I used lesser amount to describe my explanation but you guys keep giving an amount that will sum up to a reasonable figure. Why don't you use a lesser amount of investment that will give you $400 Roi in a year if that is actually that is what they define "Rich". I know people's description as rich differs, a person who has $400 may value it like $40k because of his level poverty, but to me I don't count $400 or $1.5k to be rich.