Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: Crypto Kris on May 04, 2019, 12:40:36 AM
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Bitcoin will not make you rich
Bitcoin will not make you rich, yes, you heard right, bitcoin will not make you rich. Let me say that one more time, bitcoin will not make you rich. Sure you might invest in bitcoin and even double or triple your money over the long term, and there is nothing wrong with that. Hell no, that is a great investment, but unfortunately those investing in bitcoin today will not be insanely rich in the future, the reason being is that bitcoin has already exploded in value. Cast your mind back to 2009 when you could purchase a single bitcoin for just a few cents, fast forward to 2019 and bitcoins current price is well over $6,500. Now that is what I am talking about, that is serious wealth creation over a 10 year period.
Now let’s return back to reality for just one moment, the only way to repeat that phenomenal growth of wealth in the future is to find an alternative to bitcoin. Yes they do exists, a whole cryptocurrency market full of alternatives to bitcoin. They are called altcoins, altcoins are bitcoins cousins. Altcoins are usual very, I repeat very cheap, usually a few cents on the dollar, but can have insanely explosive growth. Crypto investors have reportedly purchased a lazy $1000 into these altcoins and returned millions in profits. Crypto traders buy small parcels of altcoins and watch their account balances explode in value. One such altcoin is Canyacoin CAN, it’s only a few cents on the dollar but will have explosive growth. So let’s recap…bitcoin will not make you rich, you are better of finding an alternative cryptocurrency to bitcoin. My suggestion would be to look at the altcoin called canyacoin CAN.
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so for those wondering, OP is saying Bitcoin won't make you rich. Instead canyacoin (CAN) would. Color me surprised.
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On the contrary, i think that Bitcoin will actually make you rich. But we have to remember that there is just no easy, risk free way and certainly no magical way in making a quick buck or millions [to say the least] in Bitcoin. For it is a well known fact that this crypto is such an extremely high risk investment and investing is a waiting game of its value to rise.
Luckily for us, there are ways wherein we can attain wealth from this crypto.
The more realistic way of making a million with Bitcoins is trading them through the most prominent exchanges. However, this requires practice and knowledge of the market and to some extent a crystal ball [you have to be somewhat lucky]. Given that the cryptocurrency market is extremely volatile, this method can be very risky.
Otherwise, you need to take a longer-term approach. Bitcoin’s supply is very carefully controlled. Due to its capped supply, more people learning and using this coin would lead to increased demand, driving the price up over time. That’s why many people decide to BUY and HODL on to it long-term. Keeping/hodling your coins as long as you can and avoiding distractions [you don’t fall for panic sell] or just up until your set-time frame, you can really enjoy the gains with no regrets.
Everything about Bitcoin is uncertain and risky. We really have to invest time and effort to research, analyze and understand how it really works. In the end, it's really up to us if we're patient, confident and brave enough to embrace that unpredictability.
Personally, i believe that Bitcoin is very much worth all the risks.