Bitcoin Forum

Cryptocurrency is fast rising and spreading across the globe this has caught the interest of so many and a lot of people seems to be trooping in, for the major aim of getting treasures
   
Yes cryptocurrency has rising so many. Speculation has even spread that bitcoin will hit 20000$ in 2025 or 50000$  in 2030 well this could be true or false infact their might be another coin that will displace bitcoin.

So in as much as we have strong believe in cryptocurrency awe should not be stupid enough to let our guard down. Frankly speaking over 80% of icos right now are scams ( the crypto tulip fever) and with the constant activities of hackers on wallet and exchanges

   I think having a good understanding of what crypto is all about that is knowing the good and the bad is quite. important. So many have no clue at all and are also lazy to read about cryptocurrency. Setting a good pros and cons would be helpful


PS. Cryptocurrency can elevate you from rags to riches and also can take you from grace to grass

I think it belongs more to a discussion section than beginners section.
Bitcoin is in fact one of the few things in history that already made billionaires from beign average income person or poor person.
Just look at winkelvoss twins, great example, they have 1 000 000 bitcoin.

After getting the money in the Facebook origin debate they bouht BTC, but not 1 million, that would be an insane amount of Bitcoin. If you Google it, you can find some articles on this topic:

"Winklevoss twins Cameron and Tyler are most prominent. In April 2013, the Winklevoss twins had $11 million in bitcoin at $120 a coin."

This means that they bought somewhere between 90-100k Bitcoins at a price of $120/BTC. That amount today would be worth half a billion dollars (5500% incrase), still big stack of money.

Source: https://www.cnbc.com/2017/12/05/winklevoss-twins-head-the-list-of-people-getting-very-rich-from-bitcoin.html

I think the mindset that you have is not so encouraging.  Yes there are some stories of being rich because of crypto but the main purpose of this innovation is for the advancement of our daily living.  There are so many new technologies being rooted in crypto that greatly help our community.  Sooner or later, people will become more creative in using the blockchain for the advancement of our society.

Might not be so encouraging, but it's just being realistic. I really don't like people giving false hopes to people saying something like investing in cryptocurrencies is their way to get to riches or something. It's always better to be honest and realistic.