Since the internet boom after the 90s, more millionaires have emerged from all over the world. This trend is not stopping.
Raising money through the internet has become easier over the time with the web platform grows stable. You have a transaction platform that never sleeps. How cool is that? Imagine you don’t have to queue over the bank counter just to transfer money.
On top of that, fresh ideas are easily preached over the internet. It means that your audiences can come from as far as the other side of the world.
While we know that venture capitalism is one of the sure ways to raise money for startups, the emergence of cryptocurrency has led to a new term of fundraising – Vision Capitalism.
People are led to believe in another person’s vision even though there is no physical outcome from the said business plan. That is what happened to multi-level marketing at first (I know many people were scammed from this scheme). It has also made a massive contribution to the success of bitcoin.
Many cryptocurrencies came out since 2017, and it is still increasing in number. If you notice, most of them serve minimal to no purpose in real-world application but the price still boom. How is it so? A true example of “over anticipation” which is quite dangerous as many could be easily scammed if not careful.
If you followed the work of bitconnect, you would notice the sudden plunge of the coin price and many people lost their entire invest just OVERNIGHT. That is barely even 24 hours. It has lost over 90% of its entire value. But what makes such great looking investment turned rubbish in such short time? It is because it promised investors almost everything a person could ever wish for; A house, luxury lifestyle, big car, etc. It was pictured as a sound investment. But TRUTH always wins. The fact that it is an empty can sold at a high price cost many people their money.
The internet is here, and it is not going anywhere. The vast availability of knowledge and community is used to filter out bad investments that you may want to make. Be sure to do your due diligence before hopping on to an “idea” the next time you heard of someone preaching their vision.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by edmundang90 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Informative!
But most people invest with the aim of gaining profit in returns
As far as profit is the ultimate goal, it should carry its value together. Else, it is just a money game in disguise. =)