At one point it is really scary to see how easily people are becoming millionaire through crypto but at the same time interesting too.
I am sure during the early days of internet and dotcom bubble,same kind of things had happened.
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This has always happened in history. People becoming rich super fast. I'm sure the oil guys also gained profits mega quick. Life still goes on. The new millionaires will start to chill more and feel comfortable with their position and new hungry people will take their place. But we are always creating more abundance.
These people eventually do epic things with their money and push it back into the economy. Since they are becoming so bored at just sitting on the money. It should be like Spotify. Be streamed out into the world and be shared to all who needs some!
@phoneinf, you are super true about oil. Reading book about Rockefeller's time (oil magnate, early adopter) I was amazed at how the situation with oil is like that of crypto now. He is saying that "firstly the profits were so thick that everyone was becoming rich", and that early miners and refinerers were becoming very rich and in a short span of time. It was risky, the price was volatile, but the ones who managed to survive got extremely rich. Many people went bancrupt also. Just like with crypto.
You remember people say history repeats itself and that is the same happening right now.
If you invest money you can't afford to lose then that's bad lol. Play it safe always the genius idea! Thankfully there is so much more opportunity these days to bank. So many 100s of various ways you can bank by using the Internet. Which is very awesome for people that are willing to work hard!
Clearly the oil era was more risky since it required you to invest more physical energy. These days you can generate value in the comfort of your own home. Clearly also these boys early in the Crypto industry will become extremely rich. And perhaps can even leverage that into AI research to bank some more!
Especially since we are more people on earth and we are starting to make all global there truly is more cash in this industry! And it's also open for more people all you need is an Internet connection and you are ready to go!
Yeah, Phoneinf, that is so true. I have read history a little bit and watched documentary about the richest people of ealry 20th century like Carneige Mellon, Rockerfeller, Thomas Edison and many more. It happened same with them.It is all about time and finding out the opportunity.
Yes! Finding what people will do more of in the future. Clearly people will use technology and digital stuff even more in the future. So the price will go up! It sounds too good to be true but this is just simple math. 9 billion humans on earth soon. And all want to be on the Internet to connect with others. And clearly people are tired of paper money and need something that is faster to use and that can work with ease globally.