Crypto Makes Mega-Millions Look Like Small Potatoes
The Mega-Millions left the millions and is now into the billions.
For those outside the United States, Mega-Milliions is a lottery which much of the country can partake in. This means that it gets bigger pots than the state only lotteries. Occasionally, the numbers get absolutely insane.
The payout was $1B as of the last drawing which had no winners. This means that the next draw will be for $1.6B. That is a lot of cheese.
We will see tens of millions of people dropping money to buy the lottery tickets. Who can blame them since, for most people, it is their only shot at riches. They drop $2 (or $10, $20 or $100) in hopes of getting life changing money. Of course, the odds are almost nil of winning but, as they say, someone has to win.
The reason I mention all of this is because I look at my cryptocurrency hodlings as lottery tickets. All told, I have about 2M lottery tickets which each offer me an opportunity to win. Naturally, not all of them will pan out just like the tickets the Mega-Million seekers end up in the trash. In fact, most of my hodlings, in terms of numbers, are in long-shot coins. It is okay for me since there is not a lot of fiat in them.
That said, cryptocurrency is offering millions of people the opportunity to make life changing money. Granted, my "tickets" do not offer a payout of a billion dollars, even all together. However, I do know that I am involved in a market that is going to reach into the trillions.
Life changing money is something that I believe coins like STEEM offer. My optimism about what is taking place keeps growing. For this reason, the amount of STEEM required to reach the level of "life changing" keeps diminishing. I think the price of STEEM in USD is going to reach some unbelievable levels. That said, the term "life changing" is relative to each person. Nevertheless, a few hundred STEEM, at some point, could be worth a nice pile of money.
Using the lottery approach makes me grateful for each coin I receive. There are many different tokens I get on a daily basis, most of them worth nothing at this point (the SMTs are not even traded). However, my view is simple: pile up on them just in case one hits it big.
Over the next couple days we will see people droppings hundreds of dollars into lottery tickets. These people all have hopes of winning big. They have dreams of mega-millions bringing about a completely different reality than they experience now. Unfortunately for almost every single one of them, they will come up with duds.
Imagine if those same people dumped that money into STEEM (or other cryptocurrency). While they might not get the $1.6B (which they won't get anyway), they could have something that grows over time. To start, if one buys a coin with a decent project behind it, there is a good chance one will not lose all his or her money. With the lottery, it is all gone.
Secondly, while a $2 purchase won't net a billion, it could provide a nice return. My view is that $2 in STEEM is easily looking at being worth 10 times that amount. That is a much better payout than the lottery ticket.
It is impossible for us to know which tokens will succeed. We are still at the very early stages of cryptocurrency. Most of these projects are under 3 years old. They are still in their infancy. For this reason, I like to spread my hodlings out while acquiring all I can, especially among the utility tokens that can be earned.
This is also another one of the reasons why I am so optimistic about STEEM. With the introduction of SMTs in March, we are going to see a lot of coins created on this blockchain. This means that people will have the ability to earn many different tokens on a daily basis. As one keeps increasing the number of coins, especially different kinds, the number of lottery tickets keep growing.
In my mind, this increases the chances of winning.
Obviously, I like the position those powering up STEEM are putting themselves in. My opinion is STEEM is one of the better "tickets" to be hodling. However, there are many others out there which could have very good futures.
The cryptocurrency market is going to be worth trillions. In this light, it really shows how small the Mega-Millions jackpot really is. Those who are involved in crypto are partaking in a much bigger lottery on a daily basis. Yet, this is one where more than luck is involved.
We actually can steer our decisions to increase the chances of success.
Life as an early adopter is a bumpy ride but the payout can be incredible.
If you found this article informative, please give an upvote and resteem.
As always, none of this is financial advice. Due you own due diligence and seek the proper expertise before making any financial decision.
Binance needs to re-enable steem withdraws so I can power up these 440 coins. I want to put a big chunk of that into @actifit.
Speaking of @actifit, I wonder how much coins will be worth on the open market. I assume the value of them will be dirt cheap in the beginning because many people received their coins for free.
There are going to be a lot of people out there that think it's cool that they got even $1 (or less) for 100 @actifit coins because they received those coins for free.
The interesting thing here is that @actifit tokens are actually quite scarce at the moment. There are currently less than 11 million tokens and the project has been out for 4 months.
Given that metric, we can likely expect that there will be less than 110 million coins after 40 months, which is still considerably less than Steem's 300 million. This is especially true when you consider that the new rewards system is creating considerably less inflation than it was before.
I hope @actifit can give us a more clear understanding of how much inflation there will be in the future. As someone who is receiving 3500 @actifit tokens a day I'm sure you can relate.
Glad to hear about your plans. Bittrex is fully operational if you want an alternative to binance.
In terms of Actifit tokens and relevant financial figures, the official numbers are practically finalized, and will be announced within this week :)
Winning that insane amount of money can be a curse rather than a blessing.
A billion dollar strips one of any chance to live a normal life.
Winning enough money to repay a mortgage is enough to change one's life.
Why dreaming of so much?
The perfect recipe for an endless pursuit of happiness.
Winning 1 billion is God coming down on Earth and kissing your feet. God damn 1 billion! It's btw just a number. It doesn't strip you of anything. It gives you access to anything you could ever desire. Paradise! I dream of 1 trillion. 1 billion is the new normal for wealthy. Trillionaire is the new cool.
You might not say that in a transparent system where you are under constant scrutiny to spend that money responsibly. I believe in the distant future many citizens will actively avoid being this rich on purpose.
We are moving into an era of the pointlessness of money. As the cost of everything is heading towards 0.
I absolutely love STEEM and the GREAT STEEMIT COMMUNITY! It is truly the Caring Social Network. Joining STEEMIT was one of the VERY best things that I have ever done for myself. I STRONGLY believe that it is only just a matter of time that the masses realize the power of STEEM and STEEMIT! I'm telling all my Family, Friends and Clients about both! All the VERY best my Friends! Your Friend @extraterrestrial :)
You are right, I cant tell you how many times I had a coin pop off and go way up in value, I use to tell my wife, "this is like hitting the lotto" of course I have never even come close to hitting the lottery, but many wins with crypto, so my bet is always on crypto!
Not knowing very much at all about all of this, I found it helpful to see cryptocurrency from the perspective of a lottery, although I don't buy the lottery either. I might just spend some time checking out some of the other coins out there.
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