Crypto Creating A New Class Of Millionaires (And Even Billionaires)

I have long maintained that cryptocurrency is the great equalizer.

We live in an economic system based upon scarcity. It is a controlled system that makes it difficult for the average person to excel. The best opportunities are usually reserved for those in the "inner circle". Essentially, the average person is left with the scraps.

This is a situation that appears to be getting worse. With wage growth basically flat and mega-corporations controlling most industries, it is very difficult for someone to put together the resources to enter the upper levels. Over the last few decades, we saw more people move down in financial class than upwards.

Crypto-Economics is a paradigm that is going to change all of this. While we are still in the early stages, we can see how things can radically change going forward.

Here is an image that @chesatocki posted the other day.

https://steempeak.com/busy/@chesatochi/if-bitcoin-hits-1-million

While the $1M Bitcoin is open to great debate, let us cut that down to $100K. I think most people feel that Bitcoin reaching $100K over the next decade is within reason (people like Tim Draper see $250K by 2022 as a comparison).

Looking at this list, under the scenario I spelled out, all these people would be billionaires. The question is how many of them would have achieved that without cryptocurrency? While a few on the list might have made it, those like Charlie Shrem and Roger Ver probably would not have.

The question is are you going to be a crypto millionaire or, even, a billionaire?

Steem is offering a tremendous opportunity for average individuals to enrich their financial lives through the usage of this platform. Over time, as we see cryptocurrency become mainstream, some of the tokens on here might shoot up in value (this will probably happen in the next bull run anyway).

I would believe that when many of those on that list got into Bitcoin, they did not foresee the token being worth tens of thousands of dollars apiece. While some did believe in the possibilities, in 2010 or 2011, it was tough to see. Today, it is a lot clearer about where things are going.

We can say the same about many other currencies. There will be a massive explosion in the wealth created by this industry. Many tokens are going to create a bunch of millionaires.

“The Ethereum ICO made more unaccredited investors’ millionaires than any other public company” says Alex Mashinsky, CEO of Celsius Network

https://www.cryptotapas.com/ethereum-made-more-unaccredited-investors-millionaires-mashinsky/

This quote shows that the wealth was not limited to those early adopters of Bitcoin. Ethereum, which came along a number of years later, provided a similar vehicle. Once again, do you think many of those who became millionaires would have done so without this mechanism?

There is another important point that must be stressed about this quote. Public companies are invested in by millionaires, aka "accredited investors". Cryptocurrency is providing the opportunity to the average person, aka "no chance in hell to be an accredited investor".

Steem is three years old. How many millionaires will it create? What would that look like with the price of STEEM at $25 or $50? Seems far-fetched? I bet $5,000 per Bitcoin seemed that way when one was using it to buy pizzas.

Of course, many are not only amassing STEEM but other tokens as well. There are accounts with tens of thousands, even hundreds of thousands, of application tokens. Some of these might end up seeing a huge run in value. What would your portfolio look like if a few of them hit 10 cents apiece?

The nice part about this is these tokens are backed by innovation and development. We are going to see many fail and end up completely worthless. That is simply how it goes. Not every "experiment" is going to succeed. There will be a few, however, that implement a business plan which excels. Those who are in on it will profit handsomely.

At this point, I look at each token as a lottery ticket. My focus is to accumulate different tokens and fill my accounts. Over time, we will see which ones take off versus the ones that die worthless.

The best part is that anyone can participate. Crypto-Ecnomics truly is for the masses.

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