Interview With A Bitcoin Millionaire
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Las night, at a dinner organized by the cryptocurrency policy group Coin Center in New York, Casares was the keynote speaker and he gave the same advice he has been giving to people for a while now regarding Bitcoin. Then forget about it for the next years. If the coin fails, it will be worthless he says, you will lose your entire investment.
However, if the coin succeeds, how to be a bitcoin millionaire years a single Bitcoin will be worth more than a million dollars. The chances of that happening? People have been trying to trade in and out of Bitcoin on their way to profits only to be left behind on the recent parabolic move. According to Casares, the ones who are truly outperforming are the buy and hold investors. A trend that he sees continuing in a major way if Bitcoin "succeeds". In order to achieve that price, Bitcoin would be considered the world's reserve currency.
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 how to be a bitcoin millionaire 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 how to be a bitcoin millionaire 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 how to be a bitcoin millionaire 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 how to be a bitcoin millionaire 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 How to be a bitcoin millionaire 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 how to be a bitcoin millionaire a key factor in holding Bitcoin.
For those who don't get it, crypto IS the global currency reset. G7 now irrelevant to how to be a bitcoin millionaire 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 how to be a bitcoin millionaire wait untill the value is that interesting you will have to take it of and buy stuff of it.
One of the easier online how to be a bitcoin millionaire 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 how to be a bitcoin millionaire 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 how to be a bitcoin millionaire at the moment, anyway. They're not worth quite as much as I put how to be a bitcoin millionaire 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: I think he's tricky as usual. And the statement that bitcoin will cost a million in 10 years - is just a guess.
