No exactly, except that every they are professional traders with big amount of capital so that they can also get big profits. Moreover if they also know the nature and the right strategy for trading, in every kind of market condition.
So, it doesn't mean much. There will be only few people who can really make it. And not everyday will be coming tot his condition.
I personally believe that many people can earn money and get profits from trading and also crypto investment.
But, Exactly, this will only happen in some certain people.
But so far, many people new coming in crypto is based on the hype community, hype projects, and also fake investment. So, many also become poor very easily.
Don't always see something from one side, because there will be always two sides point of views.
Topic: Is cryptocurrency making new millionaires every day? - page 2. (Read 488 times)
As a matter of fact, those who believe they are intelligent and endeavored to do beyond simply the HODLing boring thing are more prone to failure and loss.
I guess it has been proven time and again that the most profitable people in the history of Bitcoin are the HODLers. They're probably not the traders, crypto investors, and those who are too focused on the tiny details, created strategies, analyzed the perfect timing, and so on.
The keywords are Bitcoin, now, and HODL. Those are enough.
I guess it has been proven time and again that the most profitable people in the history of Bitcoin are the HODLers. They're probably not the traders, crypto investors, and those who are too focused on the tiny details, created strategies, analyzed the perfect timing, and so on.
The keywords are Bitcoin, now, and HODL. Those are enough.
It has been proven that way, but it could have been proven the contrary as well. Don't fall in the trap of thinking that those who HODLed are more intelligent, or those who trade aren't, because it might suppose falling in the confirmation bias.
Don't get me wrong: HODLing is the strategy I follow myself (I'm too lazy to follow any other). But even if I have had good luck following it, I am very aware that it could've been the other way round too, and that we don't have a crystal ball and we could lose it all if (sorry to mention Taleb) a black swan event proves that Bitcoin is not as anti-fragile as we suppose it is.
Like in the Big Short, where everybody thought that "hodling real estate" (sorry for the blasphemy) was the only reasonable thing to do, until everything went down all of a sudden.
You need to learn a lot, and may need some luck, but don't trust it. Increasing your knowledge is the way to go, Follow new projects, follow older projects, stay up to date, read forums etc. Trade a bit, hold more, and always follow your holdings 
But becoming millionaire with cryptos requires now serious risk taking... as it required earlier. I think if that's the goal, the best way is to sit down and plan some useful project and launch it... 2nd best way would be double DYOR and buy in at presale stage on a few promising projects, and just hold. my two cents!
But becoming millionaire with cryptos requires now serious risk taking... as it required earlier. I think if that's the goal, the best way is to sit down and plan some useful project and launch it... 2nd best way would be double DYOR and buy in at presale stage on a few promising projects, and just hold. my two cents! 
Remember: A few millionaires and many indebted
Just yesterday, my friend bought a hyped coin called SDOG (on Avalanche) that made a literal pump and dump.
Just yesterday, my friend bought a hyped coin called SDOG (on Avalanche) that made a literal pump and dump.
People think that crypto is a place to become quick rich. You enter with little money and exit with bags of money but in reality it's a wild west. The story of SDOG is not new such pumps and dumps are integral part of crypto. But not many pay attention to the point that never buy a coin that is already pumped as its ready for dump.
It could be crytocurrency is making new millionaires everyday. This maybe people who knows the right coin to manage, and this categories of people they do not become a millionaire overnight, they have followed in the right part and have been investing before now. Becoming a millionaire through crytocurrency is not spontaneously, but consistently.
They're not depending again on the bear or bull run of bitcoin. It means the domination of bitcoin wasn't absolute anymore.
I honestly haven't seen any change in the altcoin market so far. Things are exactly the same. * Majority of altcoins most of the times are dumping each time bitcoin goes either up or down.
* They have good pumping times when bitcoin price is stable.
* At any time a handful of altcoins are being pumped regardless of what bitcoin is doing. Then they get dumped after some time depending on the altcoin.
The altcoin market has been exactly like this ever since 2014 that I entered this world.
May I tell you my opinion? since a couple of years ago, when certain trends happened like DeFi, NFTs, and now Metaverse, there's an anomaly in the crypto world. Some of the altcoins are independent. They're not depending again on the bear or bull run of bitcoin. It means the domination of bitcoin wasn't absolute anymore. IMHO, being a millionaire is possible when you have a combination of good observation/analytics, good instinct, good emotion control, a risk-taker, and the most important thing is good luck. People who can see a chance and use it well may have success in the crypto world.
Remember: A few millionaires and many indebted
This is the major issue with chasing after instant gains, rather than organic growth. Those who seek pump groups always fall victims of this while the group owners and his few selected friends smile their way to a bank. At a time, I followed a dude who ran such a group and bought a token he picked – Polyplay. The token pumped but got dumped. Till this day (at least the last time I checked) it was abandoned. I was lucky to have got out with minimal loss, anyway. 
Cryptocurrencies have already made a lot of people millionaires, but I wouldn’t say it happens every day.
It is almost certain that the people who joined crypto in the period 2009-2012 have already become millionaires, provided they didn't sell their crypto funds too soon.
Today it is much harder to become a crypto millionaire because there are so many interesting crypto projects that it is very difficult to guess which will be the best and bring the biggest return on investment.
Crypto trading is very risky today and it is very difficult to become a crypto millionaire that way.
It is almost certain that the people who joined crypto in the period 2009-2012 have already become millionaires, provided they didn't sell their crypto funds too soon.
Today it is much harder to become a crypto millionaire because there are so many interesting crypto projects that it is very difficult to guess which will be the best and bring the biggest return on investment.
Crypto trading is very risky today and it is very difficult to become a crypto millionaire that way.
I am not sure about the millionaire status. But you can make a good amount of money depending on how intelligently and how dedicatedly you trade or invest in crypto. I have heard that people have gained a lot with the rise of Bitcoin because they invested in it at the right time. So, you need great timing, learning, and strategy to gain profits in cryptocurrency. Maybe one day, the millionaire status will come true for every crypto investor.
Your not necessary to be intelligent you just need some guidance and style when it comes efficient to that. Does being millionaire means you had some experience or great background? No right? Sometime a lucky airdrop could do it for you already or some good bounty you joined or a good bought on uniswap like shiba, anything like that could do it. 
Coming from personal experience, I know a few people who have done really well with crypto. They were early(ish), they traded, worked with crypto projects, bought the dip, sold the high, hodl, you name it they did it, and they god a lot from it, but they ain't millionaires. And I am not sure that's even that important. If it can bulk up your budget then it was more than worth it. I'll live the millionaire dreaming to someone who has the time for dreaming.
Crypto trading is currently one o the biggest means to earn income, but not everyone is making it big, this still isnt as a result of the dip or unfair market situation but the fact that so many persons lack the appropriate strategy and signal to use.
In as much as you can select the right approach for your trading and you're consistent in it, then you can make millions from crypto, maybe not immediately but definitely.
I agree with your point, but also remember that as you are gaining, people are loosing too. So it's also a very risky process that involves alot of talent, knowledge, dedication and luck, yes I said Luck. It's not everyone that invest will gain even if appropriate measures were taking, but if you are lucky, you can start today and make it today. In as much as you can select the right approach for your trading and you're consistent in it, then you can make millions from crypto, maybe not immediately but definitely.
Crypto trading is currently one of the biggest means to earn income, but not everyone is making it big, this still isnt as a result of the dip or unfair market situation but the fact that so many persons lack the appropriate strategy and signal to use.
In as much as you can select the right approach for your trading and you're consistent in it, then you can make millions from crypto, maybe not immediately but definitely.
In as much as you can select the right approach for your trading and you're consistent in it, then you can make millions from crypto, maybe not immediately but definitely.
You also need a lot of luck.
Take Doge and Shiba Inu for example. Those who invested in these meme coins or tokens early had been lucky there are still a lot of people chasing the hype even though their use cases aren't unique.
Close to a week ago, I saw someone posted his profit of over $500 million just by chucking $500 into SHIB during its early days.
Jelly.
Everyday I do not think so, because markets are not always posting positive numbers like it is right now...so we cant literally be getting millionaires everyday , if it was the case we would have been seeing lambos everywhere .And tbh I do not think in todays investors we have many people that invest in cryptos to secure a load full that will make them millionaires. But were we have a high possibility of getting millionaires is when we get into a bull run phase and the hodlers portfolio grows in value chances are high of getting a few millionaires here.
Majority of those who get involved in altcoin trading lose a large amount of bitcoin specially since they all hang around too long. For example during 2017 we had a large surge of newcomers who bought a lot of different altcoins because they saw them pumping every day. But they didn't know that it was a "pump" and though it is "growth" so they ended up bag holding until they all lost a lot of money and some lost as much as 98% of their initial investment (left with only 2% of it).
If you want to see them, just search for topics talking about "having patience" during 2018
This is what happens when you blindly invest in these coins just because they are rising insanely just for temporary period of time under some influence but people tend to ignore these facts and just put their life savings on these altcoins which are shitcoins at most and gradually end up losing them all.If you want to see them, just search for topics talking about "having patience" during 2018
In the past few days we saw shiba inu insane rally and whales buying billion worth of coins but what happened when it reached at high prices? The exchange server crashed and people were not able to liquidate their holdings as you could not sell them and then prices crahed.So what's the fun of holding these coins?
Second case of Squid game token which was giving 1000% returns in single day and people rushed to invest in it and later on it crashed 100% to zero because of rug pull and the holders lost all the funds in one go and the owners scammed people with million dollars and ran away.This is what you want to happen with you also by investing in these coins?
This is the misconception among newbies and many others that crypto is shortcut to become millionaire easily of which scammers and shit token owners took advantage and first pump the coins with fake projects background and once people start investing they dump the coins and cash out their profits and latter one is left with 3-4% of initial investment as you said.On the other side they ignore btc just because it's out of reach and having sats is not possible at all(excuse) but they ignore how safe and best btc is and those who have hold it for years are actually millionaires now what they want but this is not how they are looking towards it.
Majority of those who get involved in altcoin trading lose a large amount of bitcoin specially since they all hang around too long. For example during 2017 we had a large surge of newcomers who bought a lot of different altcoins because they saw them pumping every day. But they didn't know that it was a "pump" and though it is "growth" so they ended up bag holding until they all lost a lot of money and some lost as much as 98% of their initial investment (left with only 2% of it).
If you want to see them, just search for topics talking about "having patience" during 2018
If you want to see them, just search for topics talking about "having patience" during 2018
It is not. Crypto market is another place where we are joining in a zero-sum money game. It means there are winners and losers in the same game and money flows from losers' addresses to winners' ones.
The Pareto Principle is true in all aspects of our society so sure it is true in crypto market. It means we can assume that 80% of participants in the market (traders, investors) end with losses, and around 20% of them end with profit. How many of them are millionaires, we can not estimate it but I believe only a few of them are millionaires or billionaires.
The Pareto Principle is true in all aspects of our society so sure it is true in crypto market. It means we can assume that 80% of participants in the market (traders, investors) end with losses, and around 20% of them end with profit. How many of them are millionaires, we can not estimate it but I believe only a few of them are millionaires or billionaires.
As long as you can select the right project for your investment, you can expect to become the next millionaire someday.
But you should not expect to make big money in a night because there is a process that you should follow and the project where you invest in will not lift the price in just one night.
But we admit that some projects can lift the price quickly, but that is rare to happen to many projects.
So only research will give you the chance to make big money.
But you should not expect to make big money in a night because there is a process that you should follow and the project where you invest in will not lift the price in just one night.
But we admit that some projects can lift the price quickly, but that is rare to happen to many projects.
So only research will give you the chance to make big money.
There are many paths one can take to become a millionaire, crypto is just an adequate tool to be used globally and accepted as something of value which many companies/services have adopted (not about legality).
It's not just an investment tool, if you use it in gambling, it's impossible for you to earn hundreds of times. And lately, digital artists are benefiting from the presence of NFT technology. It just depends on where you want to be in the crypto field, if you are consistent then you will enjoy the results one day.
It's not just an investment tool, if you use it in gambling, it's impossible for you to earn hundreds of times. And lately, digital artists are benefiting from the presence of NFT technology. It just depends on where you want to be in the crypto field, if you are consistent then you will enjoy the results one day.
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