Topic: Is cryptocurrency making new millionaires every day? - page 3. (Read 484 times)
@OP you're confusing between Bitcoin and cryptocurrency (altcoins) since both of them are different. You could become a millionaire in a single day by investing on altcoins (pump & dump) it's all depend on your luck to choose 1/10000 coins out there of the chance is 0.01%. If you invest in Bitcoin you can't become a millionaire in a single day since it won't pump 100-1000x in short time (expect you're early adopter), but it's the safest investment IMO.
But you can make a good amount of money depending on how intelligently and how dedicatedly you trade or invest in crypto.
This is sure, in my country, many young people who never imagined themselves to be in the millionaire status are now there, cryptocurrency has made more youths millionaires in my country faster than even the career they studied in school. Apart from luck, intelligence and strategy, Information is also key in gaining the most from crypto. Being at the forefront of information guarantees you to make the best profits from crypto.
It may not be as complicated as you think. You don't even have to be that intelligent. 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.
Remember: A few millionaires and a many indebted 
Taking into account that getting the first dollars is much harder than the last ones and, therefore, the less you have, the more they are worth to you, the quoted was a very timely appreciation.
Answering the OPs question, there is no doubt that crypto is making new millionaires every day. There are plenty of examples, with hundreds of coins. But let's not forget that this is a zero sum game, and that there are losers too.
Is cryptocurrency making new bankrupts every day? The answer is also affirmative.
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. And that was not just a random shitcoin, since it got quite a bit of attention from known crypto guys on "crypto-twitter". Everyone rushed to the end and a couple of people got out with a couple of millions (someone went from $500k to $18m), while the rest of their community got rekt.
Even rekt.news made a post about this: https://rekt.news/snowdog-rekt/
Just yesterday, my friend bought a hyped coin called SDOG (on Avalanche) that made a literal pump and dump. And that was not just a random shitcoin, since it got quite a bit of attention from known crypto guys on "crypto-twitter". Everyone rushed to the end and a couple of people got out with a couple of millions (someone went from $500k to $18m), while the rest of their community got rekt.
Even rekt.news made a post about this: https://rekt.news/snowdog-rekt/
Quote
Maybe one day, the millionaire status will come true for every crypto investor.
This won't happen. Not with the current gambling mindset of investors.You have heard those who've gained but how about those who'd lose their money because they are trapped investing in a high price but suddenly have dropped. Not all cryptocurrencies will make you rich especially in altcoins, if you're a Bitcoin holder and purchase for about 5 years ago for sure your profit was there, not the short term or hype coins/tokens.
.... So, you need great timing, learning, and strategy to gain profits in cryptocurrency.
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.
Quote
Maybe one day, the millionaire status will come true for every crypto investor.
This won't happen. Not with the current gambling mindset of investors.
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.
Jump to: