Crypto Creating A New Class Of Millionaires (And Even Billionaires)steemCreated with Sketch.

in #busy5 years ago

I have long maintained that cryptocurrency is the great equalizer.

We live in an economic system based upon scarcity. It is a controlled system that makes it difficult for the average person to excel. The best opportunities are usually reserved for those in the "inner circle". Essentially, the average person is left with the scraps.

This is a situation that appears to be getting worse. With wage growth basically flat and mega-corporations controlling most industries, it is very difficult for someone to put together the resources to enter the upper levels. Over the last few decades, we saw more people move down in financial class than upwards.

Crypto-Economics is a paradigm that is going to change all of this. While we are still in the early stages, we can see how things can radically change going forward.

Here is an image that @chesatocki posted the other day.

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https://steempeak.com/busy/@chesatochi/if-bitcoin-hits-1-million

While the $1M Bitcoin is open to great debate, let us cut that down to $100K. I think most people feel that Bitcoin reaching $100K over the next decade is within reason (people like Tim Draper see $250K by 2022 as a comparison).

Looking at this list, under the scenario I spelled out, all these people would be billionaires. The question is how many of them would have achieved that without cryptocurrency? While a few on the list might have made it, those like Charlie Shrem and Roger Ver probably would not have.

The question is are you going to be a crypto millionaire or, even, a billionaire?

Steem is offering a tremendous opportunity for average individuals to enrich their financial lives through the usage of this platform. Over time, as we see cryptocurrency become mainstream, some of the tokens on here might shoot up in value (this will probably happen in the next bull run anyway).

I would believe that when many of those on that list got into Bitcoin, they did not foresee the token being worth tens of thousands of dollars apiece. While some did believe in the possibilities, in 2010 or 2011, it was tough to see. Today, it is a lot clearer about where things are going.

We can say the same about many other currencies. There will be a massive explosion in the wealth created by this industry. Many tokens are going to create a bunch of millionaires.

“The Ethereum ICO made more unaccredited investors’ millionaires than any other public company” says Alex Mashinsky, CEO of Celsius Network

https://www.cryptotapas.com/ethereum-made-more-unaccredited-investors-millionaires-mashinsky/

This quote shows that the wealth was not limited to those early adopters of Bitcoin. Ethereum, which came along a number of years later, provided a similar vehicle. Once again, do you think many of those who became millionaires would have done so without this mechanism?

There is another important point that must be stressed about this quote. Public companies are invested in by millionaires, aka "accredited investors". Cryptocurrency is providing the opportunity to the average person, aka "no chance in hell to be an accredited investor".

Steem is three years old. How many millionaires will it create? What would that look like with the price of STEEM at $25 or $50? Seems far-fetched? I bet $5,000 per Bitcoin seemed that way when one was using it to buy pizzas.

Of course, many are not only amassing STEEM but other tokens as well. There are accounts with tens of thousands, even hundreds of thousands, of application tokens. Some of these might end up seeing a huge run in value. What would your portfolio look like if a few of them hit 10 cents apiece?

The nice part about this is these tokens are backed by innovation and development. We are going to see many fail and end up completely worthless. That is simply how it goes. Not every "experiment" is going to succeed. There will be a few, however, that implement a business plan which excels. Those who are in on it will profit handsomely.

At this point, I look at each token as a lottery ticket. My focus is to accumulate different tokens and fill my accounts. Over time, we will see which ones take off versus the ones that die worthless.

The best part is that anyone can participate. Crypto-Ecnomics truly is for the masses.


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I have a few eos and bitshares abd now beos plus steem. My ex needs to send me a few of the forked coins of bitcoin but i dont know where he can send them too! Shit, i can't remember how i got and converted the bitcoin he sent me. I think it was in the bitsharest wallet via blocktrades ‍♀️ I've got these on the bitshares wallet. Where is a good place to store tokens when you get them?! I am so green at all this! Would love to have the knowing of how to safely keep tokens. You know don't put the cart before the horse 😹

I keep my BTC in a Nano or paper wallets.

I owe Steemit a great deal of gratitude. I started on Steemit a little over a year ago. I am just a simple farmer but Steemit has given me a platform where I can create content and get paid for it. I have not made millions yet but have made thousands and it has opened my eyes to the world of crypto. I enjoy following you and reading your posts. They are always encouraging. Keep up the good work.

Very good. There are few millionaires on here now but that could change in the future. With each passing year, more accounts are gaining SP. This will only continue to grow and, at some point, we should see the value of the token move higher.

Even $5 STEEM will make many people very happy.

... "Cryptoeconomics is a paradigm that will change all that. While we are in the early stages, we can see how things can change radically in the future." ...

Fully share the author's opinion with only one addition. I am not optimistic about the timing of achieving good goals designed to achieve with the help of a stim, bitcoin and a crypt as a whole.
Large business and financial circles in every way will eagerly oppose the development of the crypto world, in order to preserve their assets. Until attempts by all means to ride these crypto locomotives. While the development of a new crypto of reality is in the bud. But upon reaching her maturity, the owners of this world will not be idle. The development of the crypt inevitably threatens them with a loss of influence and power. Entire States will cease to exist in our usual sense. And to save the current situation, these monsters do not disdain by any means, up to the unleashing of global wars, revolutions, the creation of epidemics, famine, etc. Can sacrifice whole nations. Many of the things they have listed have been successfully used for a long time.
The successful development of the crypto world threatens global corporations and financial circles with huge losses. And the main thing is the loss of influence and power of the initiative. Therefore, the upward movement of the crypt may be accompanied by large artificial cataclysms for the whole world. And the scale of these troubles for the ordinary inhabitants of the planet Earth is unpredictable.
Of course, the crypt, like a genie, released from the bottle, is now a given, with which everyone will have to put up. But, given the opposition of the powerful, whose power we have yet to feel, the temporal forecasts of financial prosperity seem highly optimistic.
Crypto money will in time transform the world, the usual way of life, way of life, business processes and the world outlook of people as a whole. But it is very likely that these changes may be too painful for humanity.

I had the good fortune to accidentally make a huge gain with ETH. I bought some soon after ICO so that I could use it when dapps became reality. I forgot about it. Months later, I went back to buy some BTC. I saw that my purchase blew up. I sold near the high.

With Steem, I bought as much as I could afford on a tight budget when the price was low. I’m still buying. Steem has opened my eyes to see what is possible with dapps. Consequently, I have also bought TRX and EOS. They are very Steemlike.

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Congrats on the ETH windfall. It is always nice to read stuff like that. I am happy for you.

Adding a strong base of tokens while things are down makes a lot of sense. That is my strategy although I tend to focus upon the tokens on Steem. I do have bitshares and now am getting some BEOS too. This, along with some other holdings I have with BTC and LTC should set me up nicely (I hope).

Just keep adding is my motto.

I'd love to see every token I have worth 10 cents

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The great thing about Steem is that it is also providing us with the opportunity to also get additional tokens from their projects in development!

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Sadly i sold all my cryptos before one month because of a financial problem i had. After that i found steemit and learn about steem/sbd. I enjoy my time in steemit and i dont see it as a way to be rich but if i collect some coins it would be good

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