Hello fellow Steemians and Crypto Investors,
Lately I’ve been responding to many questions from users of my Crypto Millionaire app at Google Play’s developer console and also through email.
One of the recurrent themes on these questions is the concept of the Millionth of Supply of cryptocurrencies. People are used to inflationary fiat currencies so they have trouble understanding how caps work in a cryptocurrency like Bitcoin and how powerful this is for investors.
To make it easier, I decided to draw a comparison with the current dominant reserve currency: The U.S. dollar.
Let’s imagine for a moment, that the U.S. dollar stops being inflationary, a powerful libertarian candidate makes to the presidency and a majority libertarian congress is there to support him/her (I know, unlikely dreams) so the printing presses at the Federal Reserves are stopped.
This would leave the supply of dollars at about $13,747,000,000,000 (13 Trillion M3 supply as of Oct 2017).
M3 Money Supply - Source Saint Lois Fed
Now, let’s say you owned a millionth of that supply. 13 Trillion divided by 1 million would leave you with $13,747,000 U.S. dollars. However, this is now a deflationary currency, so these 13+ million would continue to grow in value every year.
“You’d have about 13 million dollars+ in the bank if you owned the Millionth of Supply of all dollars”
Now, let’s translate that into Bitcoin, as an example (any other capped Crypto would work the same).
The millionth of supply of Bitcoin is about 21 million but, because of lost coins, Satoshi’s locked coins and other factors, in practice this number will be closer to 17 million. So, if we divide 13 million by the 17 coins you’d need to own its millionth of supply the value of each coin would be $764,705 per coin.
“Bitcoin would be worth about $764,705 per coin if it becomes a Global Reserve Currency”
Also, this doesn’t account for the value of precious metals, such as Gold, flowing into Crypto. There’s another 8 trillion in Gold and precious metals that can flow into Crypto.
This is why owning the Millionth of Supply of the top cryptocurrencies is a very powerful and attractive strategy for investors. Should any of them become a global reserve currency or siphon off value from precious metals and safe haven seeking money, you'd become very rich. Not only that, since they are deflationary, your wealth would only continue to grow every year, unlike with today's fiat currencies that are constantly devalued by their issuing governments.
More info on CRYPTO MILLIONAIRE and the Millionth of Supply investing strategy
The highly anticipated update to the Crypto Millionaire investing app is ready and successfully published at Google Play!
It was approved and published by Google just yesterday and finally today I have a little time to write about it and how excited I'm to announce it!
You talked and we listened! Most, if not all, of the futures requested by you, the great Steemians, crypto investors and online app reviewers, have been implemented. Whatever we left out or you feel will make this app even better please do share on the comments below.
The app has now been updated with the following:
- Improved order of coin holdings details
- Added advanced sorting functionality, just tap on the column names and have fun with it!
- Added ALL coins listed on CoinMarketCap, yes, even those shitty ones we all love to hate:) hehe
- Improved app description and text strings
- Fixed several issues when converting from fiat currencies, it's always complicated like relations :)
The app helps you create a balanced portfolio that holds the millionth of supply of the top crypto currencies by market cap.
The strategy is based on a combination of passive indexing (recommended and followed by investing legends Warren Buffet and Benjamin Graham) and the new “Millionth of Supply” investing strategy targeted to crypto currencies (popularized by Adam Meister of the Bitcoin Meister @bitcoinmeister Youtube channel at https://www.youtube.com/channel/UCsqKbe0_9D9gO48DeuDjbCg).
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap. This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the top coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply.
More about this investing strategy in detail bellow
You can start investing with very little money every month, or buy the top coin’s millionth of supply right away. Either way you’ll be happy you did as good as possible without the stress of active investing, the FUD and FOMO so typical in this field.
Unless all coins fail, which is highly unlikely, you will very likely become a crypto millionaire by following this investing strategy with your disposable income (ONLY).
The app is free to use, however, it has non-obstructive ads to provide a bit of support to the work of the programmers who created it, with crypto love, from Cuba and Miami.
More features and an IOs version are on the way
Patience , patience my friends. App developing is very demanding work which takes lots of time and money so the more app installs and eyes seeing ads on this free app the faster I will be able to outsource some of the work, especially for the IOs version which I'm outsourcing almost 100%. So, the more you share it with your friends and make it useful for more people, the faster we'll all get to making it perfect!
Especial thanks to @bitcoinmeister, @taskmaster4450, @danpaulson, @pouchon, @outerground, @barrydutton, @chesatochi and @gold84 for their kind comments, encouragement and suggestions that made this app possible. Love you all!
Notes:
App pricing information feeds from CoinMarketCap.com’s API. To refresh swipe from the top.
This is not professional investment advice. I'm not your financial advisor. All investments carry a degree of risk. Only invest money you can afford to lose! Do NOT go into debt to invest.
This app DOES NOT collect or transmit to the internet any portfolio information. All portfolio data entered in the app can be entirely made up for education purposes and changed at will anytime.
What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy
Investing in crypto is becoming a safer bet each year as Bitcoin and altcoins get older, improved and better established. We are still in the very early days of crypto and the opportunity to strike it rich is well within reach of most people, provided they have access to the internet, modern banking and a little disposable income. However, for most new investors coming into the crypto space deciding which coins to invest in and how much is a very complicated issue.
There’s so many of them, so much information, high tech jargon and amazing promises that sound more like lies uttered by politicians than from the nerdy developers that are pitching them. Every new coin is hyped, packaged and sold like the next Amazon... However, despite all the hype and noise, we can now say with a high degree of certainty that some of them will make it big in the future, but which one(s)?
Interesting fact: All users of crypto currencies today represent less than 1% of the number of current Facebook users. More details
The reality is, no one knows, whoever tells you they do, they are flat out lying, fooling you and themselves. This market looks very much like the early car industry in the United States. Thousands of car brands appeared everywhere, a lot of them were very promising (remember the DeLorean?), but most eventually went bankrupt, only a few succeeded in the long run.
So, how do I know which coins will succeed?
The simple answer is you DON’T. Trying to pick winners is very dangerous game that most people lose, those who don’t are demonstrably just plain lucky and end up losing everything the next time they bet big. The strategy that I’m introducing guarantees the winners come to you, rather than you pick them up.
How much money should I put in each?
This is a huge conundrum for most investors. With so many coins available and limited disposable income to invest it’s hard to distribute the funds in a sensible way.
Introducing the Millionth of Supply Passive Indexing strategy and the Crypto Millionaire app:
Crypto Millionaire is an app that feeds from the Coinmarketcap’s API and lists (or indexes) the top coins by market cap and daily trading volume. The coins at the top give you a pretty good idea of the current coins being favored by the market.
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap . This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply .
Screenshot of Crypto Millionaire showing the USD value needed to own the millionth of supply of the top coins ordered by market cap. Follow me @CryptoEagle for updates.
It doesn’t matter if you invest $100 dollars every month or $100,000 at once, your goal will be to own the millionth of the supply of the top coins as soon as possible by spending only disposable income . So, if for example, all you had is $100 dollars to invest monthly, you would invest this amount in each top coin according to the percentages shown, no more, no less. At the bottom of the app is the total amount in USD you would need to invest to do this for your favorite coins.
How rich will you be if you follow this strategy?
There are currently an estimated 10.5 trillion dollars in existence. If you owned a millionth of the supply of US dollars right now you would own about ten million five hundred thousand dollars!
In the United States alone, at end of 2016, there were 10.8 million millionaires, according to a study from Spectrem Group's Market Insights Report 2017.
Credit Suisse estimates there are about 35 million millionaires in the world (including all financial and nonfinancial wealth, such as assets, collectibles, and homes). If we compare this number to 21 million, the total number of Bitcoins that will ever exist, we can see that there won’t ever be enough Bitcoins in the world for every millionaire to even hold just one!
Also, this doesn’t account for the disruption of other industries such as remittances, Gold as a store of value and many other new uses of crypto currencies that we can’t even dream of today. As an example, if Bitcoin overtook just 5% of the market cap of Gold, a single bitcoin would be worth approximately $24,000 USD.
But, “introduce any crazy coin name here” is so great, the technology is amazing, so exciting. It’s the future, my guts tells me!
Yeah right, the market doesn’t care about your hunches, white paper promises, or all those great technologies that people sell as the best thing since Coca Cola. Nope, only market cap, volume and related network effect can tell you what coin will end up being favored by the market.
You must re-balance every once in a while
About every 3-6 months you should take a look at the index and re-balance it. If any coins dropped in market cap sell them and re-invest the money on the top coins until you own the millionth of their supply. If there are new coins rising to the top you should invest in them until you reach the goal as well, no more (over invest), no less (under invest). If you don’t do this you are risking missing the upcoming coins and keep investing in the long term losers.
Don’t invest on coins that only briefly come to the top
(Especial thanks to @famunger for contributing to this point)
Even though market cap gives you a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their top rankings for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world.
Advantages of this strategy:
You will be almost 99% guaranteed to become a multimillionaire by owning the top coins the market finally ends up favoring. You will certainly sleep like a baby!
You can start investing with very limited funds and continue investing periodically. Even if you don't get to own the millionth supply of every top coin you'll be certain you did as best as you could with your limited resources.
You won't over or under-invest in any particular coin and thus keep risks at a minimum.
You’ll skip all the typical drama of investing in cryto. The Fear of Missing Out (FOMO), the Fear, Uncertainty and Doubt (FUD), the daily crashes, the pumps and dumps etc. will not rattle your nerves and send shivers down your spine every time they happen.
Disadvantages:
This is a boring, long term, no feelings involved, passive strategy, you will not have the adrenaline rushes and enjoy or suffer all the crypto drama. Picking winners is reduced to a simple to follow probabilities game.
There may be coins that gain 1000 percent in a few weeks that won’t show up in the index until their market cap grows to the top and which you will miss but, on the bright side, you’ll also miss the big losers, the suicide inducing and family wrecking crashes.
There’s still the slight possibility (the 1% chance) that the entire crypto world is a huge bubble that will never work, the Internet could come crashing down after an EMP attack or a meteorite could strike earth... In which case we are all screwed anyways and should worry more about food and bullets to fight the zombies...
CHECK OUT MY PREVIOUS POSTS:
Quantum Doom for Crypto? It’s all FUD and here’s why
WOW! Crypto investing app hits #4 trending on Google Play Finance! Just below Paypal and Zelle!
"It's Been Dismal" - Gold Coin Sales Slump As 'Bugs' Bounce To Bitcoin
Why China (or governments) can’t stop crypto
Tell me what you think of this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!
Follow me for updates news and commentary on "sane" crypto investing.
Happy crypto investing!
I read a paper that in order for #bitcoin to become a global reserve currency, its valuation needs to be at least $1 million US dollars in order for the volatility to become insignificant.
we will get there.
We are way past that! Haha, I know you meant 1 Trillion. We'll get there easily. Regards
Haha no way any of you guys read the whole post! All those upvote-hunters. 😂
I really like the system behind your app, although I believe it will be difficult to invest that much money for many people to even own a millionth of the top coins. I get the thought behind it and it is one of the best strategies to invest in Cryptocurrencies in my opinion too.
Hey @cryptoeagle
your analysis is really informative..
upvote and resteem done
I think crypto marketcap may reach 1-2 Trillion this year .
Thankyou for this very informant post. I'm just new here but you seem like one of the best people to follow!
Upvoted, resteemed and following!
Interesting your post when all achieved would be very happy
There is so much to understand! I think some inflation is ok, if the value of the USD increase too much, then people would stop spending. People don’t spend bitcoin as much because the value increased so much.
You got a 15.46% upvote from @buildawhale courtesy of @cryptoeagle!
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I really like the system behind your app, although I believe it will be difficult to invest that much money for many people to even own a millionth of the top coins. I get the thought behind it and it is one of the best strategies to invest in Cryptocurrencies in my opinion too.
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STOP@cryptooeagle I extremely like the framework behind your application, in spite of the fact that I trust it will be hard to contribute that much cash for some, individuals to try and claim a millionth of the best coins. I get the idea behind it and it is a standout amongst other techniques to put resources into Cryptocurrencies as I would see it as well.
Is this the update that makes the prices of my tokens go up when I swipe it or is that coming in the next one.
I will have to download the update....I am excited to see the changes.
I love your strategy although we different on something basic....I do not see one world reserve currency but many currencies. To establish a world currency requires coercion, control, and leverage....something that is not a part of the crypto world. In fact, it is the exact opposite.
That said, I am not bearish on BTC like so many. Like you, I see much higher levels. They will figure out the present challenges with the blockchain which will make it viable for store of value and large dollar transactions. Sure it might not be the cup of coffee currency, but then again, I do not believe it will be just one. With swaps, people will be using whatever is in their wallet.
I will do a review on the app after I had a chance to play with it some.
Great job so far.
If only I could do such an update! All Steemians would be super rich by now haha.
I do not see a single world reserve currency either, I believe there will many, with many use cases. I just used Bitcoin because it's the most popular one. Also, their value will be a measure of their disruption of other existing markets. Bitcoin will disrupt Gold, Banking and Micropayments (with Lightning), Steem Facebook and Twitter, Ether for Dapps and so on.
My main developer on Crypto Millionaire got the flu, the updates have slowed because of this but we'll be back on track this week. I've dodged it so far this season, thanks god!
My best regards Taskmaster, your insights on my posts always make my day. Feels great to talk to fellow crypto fans with brains, not the usual zombies, regards
Crypto had shaken the world especially Bitcoin when the price shoot up nearly $20K ... right now Bitcoin is consolidating and again warming up for another run. :)
If Bitcoin is saved from the momentary crisis it enters, I think it will grow through $ 20,000
I honestly had no clue that India with bilion people has only 100k millionaires and its kinda strange since you are expecting many millionaires from that number.It's a fact that India isn't the most developed and theres poverty there so I guess that explains it.Either way, thank you for the detailed informations = )
Thank you for contributing to the Steemit Community.Keep up the great work and I'm looking forward to your next posts.
weill market is going up people are coming here so there are more chances of going up
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Interesting article! Checkout @cryptobroye for more bitcoin info and analysis. Im sure there's a lot we can learn from each other!
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I think this is just going to further the narrative that his statements were just intended to drop the price and allow them to buy in (like your picture suggests). However it's a large organisation and I suppose the interest in crypto could be coming from other people within the company. Either way it's a bullish sign!
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this is really very important knowledge about bitcoin worth reading this post yeah right if coins that gain 1000 percent in a few weeks that is didn't show up in the index value until in the coin market cap. Well i think in next month will be at the top bitcoin prices hope for the best.
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