Be a bitcoin millionaire
It's "meta currency", a global standard of settlement. Gold had been the global standard of settlement for thousands of years. There was a standard measure of wealth between competing countries. The difference between then and now is that Bitcoin is much easier to settle. Whereas large ships had to transport the metal across vast distances, Bitcoin transactions can be completed in a matter of minutes or hours in some cases with relatively little storage capacity needed.
Casares then went on to state that, "if Bitcoin succeeds, it will be the biggest leap forward in the democratization of money we have ever seen. If you want to be a Bitcoin millionaire, all you have to do is buy a Bitcoin and hold it for the next decade or so. Remember to keep in mind that this guy is one of the biggest bulls out there on Bitcoin. But, if you got some spare change laying around, it might be worth the risk to see if his prediction comes true.
If Bitcoin is trading for a million dollars a coin? I wonder what price that would put Steem at?! If everyone did that, we could call it the "Wences Casares Fund" and see how much money was put in as a result of his theory.
If it tanks, then Wences will be the newest Bartman, and Bartman can finally come out of hiding! Its worth a punt! Just look at ETH recently - the tech behind the coin makes it more flexible than BTC with exciting use cases growing every week. Crypto is risky enough as it is; I like to stay diversified among a number of coins although overall my portfolio is very heavily slanted towards Ethereum.
I always keep a stash of BTC in reserve. It's kind of my base currency: I think BTC will be similar to a gold standard. Ethereum seems to have a high potential. This guy is a bitcoin enthusiast. But yes I think most of his reasoning would also work for any virtual coin, not just bitcoin. Perhaps Bitcoin does have the potential to achieve this.
Bitcoin also has the potential to go to zero and this is why you should never invest more than you are willing to lose. Haha well that is an option as well. If bitcoin is trading for a million bucks I would image steem would be significantly higher as well: Your post was mentioned in my hit parade in the following categories:. If you consider Bitcoin will be used as lubricant between the other alt coins.
We have a mock portfolio - http: Underscores the need for diversification, and also the insane bull market we are in. Awesome post, although idk if a million dollars is plausible haha. Cool to think about it though. I mean at that point what could a dollar even get you? Or will the dollar even be a thing anymore. Yea that is kinda what I was thinking If bitcoin is worth a million it probably means the dollar isn't worth much anymore Yea, I can't imagine it trading at a million dollars within 10 years or so.
That's what he thinks though As always, nice post. Why it could happen Cryptocoins New The 1. Excellent post dear friend jrcornel like all his work, thank you very much for sharing all this information Have a beautiful day together with your loved ones.
I used his xapo wallet years ago when they started using the vault storage. I think that is his rationalization. This is from Already surpassed Paypal's worth during that time.
However, one must consider other factors. Namely if the USD is still around in its present form. Maintaining ones purchasing power should be a key factor in holding Bitcoin. For those who don't get it, crypto IS the global currency reset. G7 now irrelevant to human money. So much 4 new bretton woods! I know bitcoinmeister would totally agree with this sage advice!!! Funny thing about those odds, they seem pretty similar to the last time I heard his predictions, which was two years ago.
Surely Bitcoin value proposition is more likely now than was then? Thanks for this very insighting post. A good advice for those who wanted to improve life. I met Wences in his office at Xapo a couple years ago in Palo Alto. I am still quite new to the whole thing so I am always wanting to learn more. I like those odds! Never put all of your eggs in one basket. If you feel comfortable burning bucks with a match and do not flinch, get the BTC and leave them for long.
It doesn't have to be as big as a reserve currency to mint millionaires https: I first learned about BITCOIN 6 years ago and was about to jump in and invest a few hundred dollars, unlucky for me I got told that bitcoin was a joke and was not something I should invest in.
Lesson learned, from now I'll go with my gut instinct: Just joined STEEMIT and am so happy to see so many likeminded people with entrepreneurial free thinking spirits creating amazing content! I am doing both. I like the daily trafe, but on the other hand i took some coins, put them in an offline wallet, telling myself that i will wait untill the value is that interesting you will have to take it of and buy stuff of it. One of the easier online bitcoin wallets. Of course he'd bank on bitcoin to succeed.
Between him and all the other exemplary smart and enterprising people who believes in bitcoin, why should we the ordinary folk i see myself as ordinary when compared to these high Profile people even doubt cryptocurrency anymore?
I also believe only 1 bitcoin will make us millionare after years. Upvoted this excellent article: That seems tremendously optimistic.
But just thinking of the challenges on the way for Bitcoin I'd put the odds quite a bit below that myself. When I am doing the right thing, I like to hear reassurance from a wealthy man who recommends doing the very thing that I am doing. I honestly think getting even a fraction of a Bitcoin or promising altcoin is the best retirement savings plan right now Time to convert my precious metals investments to Bitcoin.
Metals aren't doing all that great at the moment, anyway. They're not worth quite as much as I put into them. My clean water, green energy, and municipal bond holdings are doing better.
And I do not have money, I will use what I have, and I believe that it works. If I try then I have at least half a victory. Thanks for the Follow. STEEM on my friend. The future is in blockchain. Crypto prices might be inflated now but the market will find it's way just like it did with the Internet boom.
I was researching a way to find more info about the current cryptocoins on the market. Does anyone know about: After his release from prison in , Shrem got right back to business and launched Intellisys Capital. The firm sells investment portfolios in blockchain companies.
Charlie Shrem is close friends with fellow bitcoin innovator and investor Roger Ver. Bitcoin millionaire Roger Ver has generously shared his wealth to spread the word of Bitcoin. Roger Ver is the first Bitcoin startup investor. Although Ver was already a successful entrepreneur before getting into Bitcoin, doing so greatly multiplied his riches. He has also donated millions to charity. However, Bitcoin also has a sinister side. Its anonymous nature makes transactions nearly impossible track.
Numerous black markets have appeared on the deep web selling drugs, contraband, and illegal services. Their investigation led to American Ross Ulbricht, who was sentenced to life in prison for money laundering, hacking, and conspiracy to traffic narcotics. As a result, the largest Bitcoin wallet in the world now belongs to the FBI. Few records of Nakamoto exist other than e-mail correspondence records between him and Bitcoin developers.
What is known about him however, is that he currently holds 1. And to think the government locked him up, where he shared his ideas to people who needed Bitcoin more than ever befoere. I voted up and resteemed your post. Please help other TeamPhilippines members to check their posts. Vote Up and Resteem. I am a robot. I just upvoted you! I found similar content that readers might be interested in: Nice job on the list. Ross Ulbritch is one of my hero. I wish he'll gain back his freedom from the oppressive Big Bad Governtment.
I'd never thought to even look this up. But I would absolutely look up the Forbes Rich List from time to time. We should definitely be following digital riches more now. Have a nice day! Top 10 Richest Bitcoin Millionaires in Doing so would be incredibly difficult unless one was involved from the beginning — or if they created the currency themselves.
Authors get paid when people like you upvote their post. Trending Trending Votes Age Reputation. Thanks a lot abuzarkalam. For use resteeming it and following you! I wonder whats the total number of holders?