New Meta for Moneymaking in 2018?steemCreated with Sketch.

in #bitcoin3 years ago

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Disclaimer: I do not have any financial credentials and any actions you take will be of your own choosing.

If you're reading this I'm sure you're familiar with the basic concept of how to purchase, hold and sell crypto currencies without knowing too much of the technical side of things like how to create your own crypto currency. Which is enough to make huge profits in this space. Crypto currencies are of course, a new market that is highly volatile that can skyrocket to the ends of the universe or drop to a mere nothing within the span of a few hours. With great risks come great rewards which makes it worth it. I consider the potential for having $10000 worth of a crypto currency to make me $100000 better than the risk of it going to $0.

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One good example is Raiblocks. It went from around just 0.21 USD to around $10 USD in under a month. Having $10000 worth of raiblocks equals to around 47619 Raiblocks. Selling them at the end of the month would have netted you $476190! Now, there is always a risk with everything in life. No one can predict the crypto currency future price with 100% certainty. I don't where else in the world where the reward/risk reward ratio is so skewed in your favor. For 5 minutes of work you would have gained a $466190 profit.

Looking at the competition in terms of enterprises that are competing for your time and money I haven't seen anything else that can even come close.

Stocks? Not as profitable. Can plummet down to zero just like cryptocurrency without the reward. Also consider the rules and regulations regarding who can take part in an IPO (initial public offering), insider trading, and when you can actually sell your shares.

Start your own business? Startup costs can easily go into the hundreds of thousands and have you spend 12 hours of your life everyday working on it. You have to worry about getting sued, employees, paperwork, etc. If it fails you can go into deep debt.

Education? Who has ever gotten million dollar salaries from working besides CEOs and celebrities? Four to three years of your life for most people will probably not net you more than say $300k a year with most of it being spent to payback student debt.

Real Estates? Look what happened in recent years when people couldn't sell the houses they got bad loans on. Also not as liquid as cryptocurrency.

I was curious to see if it was more profitable to hold a coin of a single currency that is worth $10000 or 2 two coins of another that is totals $10000 e.g

1 bitcoin = $10000
1 dash = $5000, having 2 dash = $10000

Let's say 1 dash and 1 bitcoin appreciated by 10%.
so I would have $11000 worth of bitcoin and $5500 per dash meaning I have $11000 worth of dash meanings that it equals the same.

I would still recommend getting crypto currencies that are less than $1 due to the psychological barrier of something rising from 3 cents to 30 cents being easier to reach than $30 to $300. Not that it hasn't happened. Verge, cardano and maidsafe coins are the ones I will be investing in 2018. Many people do not realise that you can purchase fractions of bitcoin.

Early Days

Many of us are kicking ourselves for not investing in bitcoin during its early days. We heard bits and pieces about it throughout all lives and the propaganda has kept us from looking into it. Fortunately, if you're on this site you're ahead of the curve. I myself only got into this space in October of this year but we're still in the early days of crypto currency. I don't know of any crypto currency giants that have been slain and replaced yet but competitors seem to be coming in every other day and there is a lot of profit still to be made.

Implications for the Economy

In the future, once mainstream penetration has been achieved with many cryptocurrency multi millionaires running around what will happen to the economy? Why should I be getting an education, investing in shares, or starting a business when I could just put a few thousand in a crypto currency and be set for life? Will the market adjust and without hyperinflation, significantly increase salaries and benefits?

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If a small portion of benefits would be payed in BTC then the moneys value could grow more have more uses.

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