How do I get rich in crypto currency?

early adopters hold all the currency
in order to make money early adopters have to sell bitcoins to other people
people buy into it and early adopters cash out with your money
now you have bitcoins, now what?
if the only way this thing makes money is by selling for higher and higher and passing the hot potato to the next person isn't it jsut a ponzi scheme?
isn't this basically how all cryptocurrencies operate?

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why don't you people do something more realistic like fix and flip?

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people who actually play the stock market know anything with more than 10% return and at least $500k down is probably a scam or incredibly risky

Set really high asks/low bids..wait for a fat finger

Look at the 1w tusd/Btc Binance chart for an example. You unironically could have done this with pax/Btc a few hours ago but binance already locked bid/ask limits at 1000% of current price.

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so it's really easy to justify overpaying for bitcoin because people don't buy actual whole bitcoins just infinitely smaller divisble portions of it which props up the value of a bitcoin as a whole and attracts gullible idiots because they don't understand trade volume or average trade size?

so if you're theorhetically rich in bitcoin how do you cash out? the average trade is only for 0.0001 bitcoins at $10 and there's only so many of them, aside from the few dumb idiots that dump $10,000 in at a time thinking it's an investment how do you cash out all that money without tanking the value of the bitcoin as a whole by overwhelming the demand?

You can anonymously move billions of dollars around the world. How is that not disruptive technology?

because it takes a terrabyte hard drive and days to download the page file just to get started and it offers no benefit over a wiretransfer?

>if the only way this thing makes money is by selling for higher and higher and passing the hot potato to the next person isn't it jsut a ponzi scheme?
that's the same as gold or any other currency with a limited supply. At some point it will stabilize and be used as a currency because hoarding it isn't that beneficial anymore.

That's why everyone with half a brain knows that btc or any other crypto has to be a store of value first to get stable in the longterm and only then it can be used as a medium of exchange. No one will ever transact in a super volatile currency.

Just buy btc and hold, compare its market cap to gold's and see for yourself if they upside is worth the risk

currencies are at least used to justify a lifestyle or reinvest in a country's tech or shit like military protection and intellectual property protection and enforcement
gold has material uses which for the longest time justified its use as a commodity even if it was as meaningless as looking pretty, but today its material uses can at least justify a high commodity price
>just buy cryptocurrency and hold
according to game theory this basically means that anyone who wants me to buy is looking to cash out since the currency itself is worthless otherwise they'd be the ones buying all the bitcoins and shit

you got the first part right, but the difference is bitcoin is a currency that depends on other people accepting it for goods or valuing it as a long term speculative investment until it gets accepted for goods.

but yes, if you're not an early adopter you're not going to get rich because early adopters have their hands in every coin at this point, and own more of it than you would be able to buy, so they are themselves the sell pressure on all of these speculative alts pushing the price down so they can get their return to throw back into bitcoin.

Fuck off newfag crypto is dead now. 2017 was the culmination of years and years of buildup into a speculative frenzy. It will take just as long for projects to either die off or develop into actual working products. If you had asked yourself these questions a decade ago it would have paid off much better for you. Decentralizing "everything" was a meme cooked up by pajeets. The eventual reality won't be nearly as all-encompassing

so is biz just full of cryptocurrency shills trying to flood the board looking for gullible idiots by trying to show off fancy graphs and ridiculous % increases to people who don't know the fundamentals of how businesses make money or what those numbers actually mean on a P&L statement?

Its anonymous. Btc is like that but, 3rd wave crypto like XLM are free and instant.

all this money could have been dumped into something that would have at least realistically made more money like a subway franchise

so is cash and I don't need a computer to use it and besides at some point there's going to be a paper trail with bitcoin when you change it back into dollars unless you just hold bitcoin itself

its full of shills but they're not trying any of that fancy shit, theyre just pajeet-tier posters talking about how their shitcoin is going to moon.

gold's use cases for electronics or any other industries are meaningless when you look at its market cap. Gold is valuable because it has a limited supply and old boomers hoarding it make the avaiable supply even smaller.

what?
also good luck trying to escepe a country with a wire transfer, not to mention it takes days and like $70 for an international one. Everything can be confiscated, your cash, your stocks, gold whatever, you won't be able to take that through the airport clearing gates. With btc all you need is to memorize a bunch of words or write it down on your ass for a few minutes

like people realize stocks were supposed to be a long term store of value against inflation and not some get rich quick scheme right?

gold has thousands of years of people accepting it as a store of value vs some software that requires massive distributed computer system, a huge amount of useless data, and constant internet access for only a few years

but when the boomers die the social valuation of gold is going to plummet in most if not all countries in the world that dont have a culture of gold like the chinks, thats just going to decimate it's value.

gold had a good run, but theres nothing saying it can compete in a purely digital world, we've only had the internet for 20-30 years, and bitcoin for 10. the next 20-30 will show how well relics of wealth like gold hold up on a global scale, as governments continue to push gold out of the picture and newer generations care less and less about it.

>gold has been for thousands of years therefore nothing else can ever be an alternative
ok, you're talking like a typical boomer.
Also think how much cost and energy all the banks consume on a daily basis, same with mining gold (shiny rocks) for thousands of years. Everyone wants to ridicule btc mining but traditional banking is even more retarded, it's just that people have been brainwashed for too long

agreed

yes but bitcoin is a hell of a lot more cumbersome to use compared to a couple of gold bullion sitting in a vault

maybe for a technologically illiterate boomer, not for the younger generations