10 Things to Know About Bitcoin
- Facts about Bitcoin
- What is it?
- How does it work?
- Where did it come from?
- Why does BTC have value?
What those of us who are in the cryptocurrency industry are witnessing first hand right now, is that cryptocurrency is infusing life into economies. What does that mean? What I mean is that whether you are a man, woman, student, employee or entrepreneur, the crypto industry is providing people with opportunities to do things with their money that they haven’t had in the past.
In the past, we as a society relied heavily on opportunities from banks, loans, leveraging our assets such as our houses, saving, penny-pinching and scraping up enough money to pursue our interests. Some open their businesses and some plan for yearly holidays. It’s not easy to save. It takes dedication, planning and occasionally the wind has to be at your back. What is new to our society now is that a growing amount of our population in the world are saving and generating cash flow through cryptocurrencies. With a small amount of learning, a small investment and some planning, are people can grow their money into something over and above their regular income that they are accustomed to. All thanks to Bitcoin, Ethereum, ICO’s, STO's and some of the most popular of 2000+ cryptocurrencies available.
It’s true that many have made millions with cryptocurrency, which was more a matter of the right timing on their part. These “Crypto Millionaires” are indeed buying Lambos, large homes while living the life of rock stars and celebrities. What you should understand is that I’m not referring to achieving that. I’m talking about the less than 5% of the world currently who have taken the time to learn about this industry, invest some of their money and have a small, secure investment that is bringing them options. What we see as an outcome from those invested in cryptocurrency is a bright shiny door that opens with one of the most beautiful words in the world……. opportunity.
An old-fashioned way of thinking is that we work 9 to 5, five days per week, pay our bills, relax on the weekend and repeat. We have invested with banks, in RRSP’s, GIC’s, and Mutual Funds, all with consistent yet minimal profits. Some of these programs have even been defined as banking manipulation to control your money. Those who understand this and have decided to take control of their finances are being educated and managing their investments within cryptocurrency all by themselves.
Where do you fit into this story? Where do your friends, family and co-workers fit in with this industry? Many people are overwhelmed with the technical side of crypto. They shouldn’t be though. It just takes a little bit of effort for a long payoff. We know change is difficult. Many people won’t be willing to learn about this emerging industry and will be left behind to old-fashioned financial ways. Therefore, it is the responsibility of those of us who work in the industry to help everyone we can with this opportunity. Banks don’t want to provide a genuine opportunity for profit with their customers. It’s why in 2018 banks have seen a decline in cash flow infused into their investments. Where are the people holding their money? Under their mattresses? Is it possible many are migrating their savings to cryptocurrency? The answer is yes. The data in world market cap shows this despite a slow start in 2018 with crypto returns; we see local currencies are being transferred over to Bitcoin, Ethereum, Ripple and other investments in the industry.
In the last six months, cryptocurrency exchanges are showing more profit than many banks in Europe, while providing smaller fees to clients, increased flexibility and higher earnings for that trading crypto. Our industry professionals know that the banks are worried, and the bigger the bank, the farther behind they are in updating their policies for crypto.
The wealth created in cryptocurrency is coming from supply and demand. Banks create their money from interest and service fees, which continues to hold everyone down and limit their finances. Just look at how mortgages are structured. The first six years are mainly profit paid to the banks. So if you don’t stay in your home for 6-10 years, you don’t pay off much of the mortgage. You would never accept a loan for a vehicle or your business on those terms, but our financial culture has allowed it to happen out of necessity.
The question now is: Do you want more opportunity? If you do, the answer is all around you. Learn, Invest, Profit and feel a weight lifted off of your mind. Perspective is important. Many understand that with crypto, you may lose some funds in the education process, but you know that you have to break some eggs if you are going to make an omelette. There is an unfamiliar feeling of ease that comes from knowing that your investments have the potential to have good returns. In the past, a 5% return on investments was quite good. With cryptocurrencies, nobody is happy with a 5% return. In perspective, that is barely keeping up with inflation, so why in the past did the world accept that sort of profit and typically over an entire year in most cases? Times are changing. We at Blockchain Business Magazine hope that you can join our friends and ourselves in the industry to grow your opportunity from this industry for many ways that you can benefit.