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RE: Why do we even need so much money? What is it really for and do we all use it properly? How many poor people is actually out there?

in #money7 years ago (edited)

Money is a tool (for me) and should always be that. It's great to work with to invest in many areas of life to enchance life quality of others and myself.

Cryptocurrencies as case will build bubbles. Andreas Antonopoulos predicted 3 or 4 more bubbles until the blockchain and cryptocurrencies establish a mainstream adoption in 10 or 15 years. Currently we are in one of them. There is a ton of speculation, hype and exuberance in the scene like in every new emerging technology with a final washout.

Wealth concentration is also going on in cryptospace. People with much money before and the willingness to invest a certain percentage will accumulate even more money and adding that on top of their exsisting money. But also new rich people emerge and stay and also many just for a small time frame of months or years with unrealized gains..

I think poor but educated people already took their chance in this space to help their families and invested early with smaller amounts in cryptocurrencies because in the long term that is the huge internet of money. But many don't even know exactly what's going on or don't have the access, the education and the courage to invest in such high volatile markets where the true winners currently not choosen. After the next burst which could happen tomorrow, in one year or 3 years the best survive after the cleanup like in the dotcom and in the end maybe 1% of all that market is gone and we'll see the sunrise of a mature market and hopefully also people who made a fortune out of poverty!

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Damn..such detailed breakdown..A complete story of the cryptospace.I could never agree less..i see the cryptoworld as a goldmine that should be tapped into..

I like details very cool and with respect

Great analysis @onetin84 ! Thanks for your time and patience!

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