Bitcoin price in 2009 was $0.0009
Bitcoin price in 2021 is $50,000
Bitcoin could have easily died within the first few years of its invention. Now we can say bitcoin could be here for good mainly because the Bitcoin ecosystem and the community have become resilient within the last decade.
The below picture is showing the historical snapshot for 5th January 2014 from coinmarketcap.com and you can clearly see fast forward 8 years, almost 80% of those didn't make it.
A few hundred dollar investments with $DOGE in 2014 would have made us financially rich now. I had to mention financially rich because there are many types of richness in life and everyone has their own definition of rich.
Apparently, the failure rate of startups was around 90%
20% of startups fail in the first year.
30% of startups fail in the second year.
50% of startups fail in the fifth year.
70% of startups fail in their 10th year.
One of the best comparisons to crypto investments is investing with startups.
For entrepreneurs and innovators, blockchain tokens are not only a new way of raising funds but also a new way of building ecosystems. By issuing and selling blockchain tokens, developers can co-opt complementors, early adopters, opinion leaders, and other stakeholders. Blockchain technology and tokens have given entrepreneurs new capabilities and have started to reshape entrepreneurship and innovation.
Thanks to crypto, Any ordinary person from any corner of the world can become an early seed-stage investor. However, most retail investors in crypto think all of their coins will moon in a short period of time.
10% Chance at 100x
Jeff Bezos says that if you have a 10% chance at 100x returns, you should always take it. You’re still going to fail 9/10 times, but the rewards are well worth it. Crypto offers the opportunity for asymmetric GAINS.
All new coins(Tokens) are only an experiment if it can Fail.
Don't get over-excited about your investments. Make sure you think very long terms like between 5 and 10 years. Like startups, the token you invested can fail and go to zero. Keep doing DYOR to minimise your risks and improve your financial EQ at all costs.
By the way, It's very healthy to treat your life as an experiment. The more experiments you make with your life the richer your life becomes.
Thank you for reading my messy writing.
Bitcoin: bc1qa3k6y6dfd9twfct4vn2akk5903cdx8vtun4yyn
Hive: leofinance.io/@nathanmars
Twitter: Twitter.com/NathanMars7
Telegram: nathanmars7
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Doge coins have really changed the fortunes of many and many have become rich through these coins. In fact, the value of these coins has risen so much that people have never imagined. At one time I also had a lot of doge coins but I did not realize that the value of these coins would increase so much. So I sold all the doge coins together when the price went up a bit. I'm still sorry for that.
I logged in to BitForex Exchange a few days ago and saw that there was 500$ in my wallet. In fact in 2018 I joined an airdrop and got some dollars from there. There weren't too many dollars. It will be less than 25 to 30 dollars. I bought Doge with those dollars and I didn't notice those little dollars. Suddenly a few days ago when I logged in I found 500$ in my wallet. I am very happy to see.
Still wondering if I hadn't sold my accumulated doge coins I might have had a lot of money and I would have become a rich man. This is the biggest mistake 😂😂😂😂 in my life.
Tomorrow I will post Leofinance with this information about Doge
As long as you learned from your experience then you shouldn't have any regret!
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Yes you are right but I still can't forget the memories of that day
A decade is still quite long time. Most of the current trending coin will vanish in next bear season. The same thing happened to the Trending coins in 2017 like OMG, NEO and LBC. There was so much hype around them and you can see they are not making to this bull run.
I also consider Ripple one of those coins because it went to $3 in 2017 and you can clearly see that it has not performed well while other mainstream coins like Ethereum and BNB has made their mark.
So it depends how a coin stay in the game through its utilization. Any crypto asset cannot survive just because people think it would give them 10x, 50x or 100x. It has to get some usability, otherwise, it is a goner.
Most people fall for the hype in crypto!
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Yeah exactly and shib is the latest one where people have busted some good money.
oh BTW, I sent you a message on Telegram. If you can respond , I will be thankful.
Those are some interesting numbers.
A line that deserves to be quoted. There is many ways to become "rich" or have success. Financially is just one of those many ways.
Cheers,
!BEER
The snapshot speaks for itself. But in the end a project with a clear cut use case filling a need in society that is valuable will survive. But of course some marketing, luck and the right situation in the world (which influences the need) is also needed for success.
For example, zoom in a pandemic succeeded with the right marketing, while waterparks in the pandemic plummeted as business.
I feel the year 2022 is the year Hive will have its web3 timing.
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Read how this all have started with Toruk
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Thank you Toruk!
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No question. BTC and ETH will eventually gobble up all crypto that do not have a utility of their own as they can duplicate any uniqueness of process they may offer. So long as Splinterlands, dlux and simular projects stay with HIVE then it should retain that utility value in my opinion. This was not obvious to me after the fork as NFTs were not on my radar.
Splinterlands brought so much value to Hive network!
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@tipu curate
Upvoted 👌 (Mana: 14/74) Liquid rewards.
Thank you so much!
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;) !PGM
100 PGM token to send 0.1 PGM three times per day
500 to send and receive 0.1 PGM five times per day
1000 to send and receive 0.1 PGM ten times per day
Discord
Absolutely. That's why I always do my research and I never FOMO into anything. There are so many projects now and new ones being started every day. So many projects with no use case and memes and scams that you need to be careful and really understand a project and put money into projects you think will last.
Totally true!
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Plenty will disappear but I think it is becoming more obvious to spot than back then. If it has a decent use case then definitely investible. I am not gem hunting looking for the next 100x as I believe the 5 or 6 I have will do really well including Hive.
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Same here. I would love to see 20X Hive in the next 5-10 years.
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Even 1/49 is still a win so people not taking a chance with crypto don't really know what they are missing IMO.
As for shitcoins... I would say 50% of them dead by 2025 is a good estimate. People keep comparing crypto to the dot com bubble but we have a lot more problems to solve this time around so a lot of them will probably find their niche.
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I guess we will be writing blog on LeoFinance about dead coins of the last decade.
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While I do agree that many of the top coins will not be around in a decade. The first series of alt coins were no where near as useful as the ones being created now. With that being said, I’m sure that they will continue making coins that will be faster, use less power, etc going forward. But there are some coins in the top ten now that I would consider like blue chip stocks and will not be going away. They might not remain in the top ten but they will always have value and always be useful.
You're spot on :)
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It gets harder for projects / startups to survive in a world where people non-stop buidl for their future. Obviously, the ones with real usecase, authentic community and great marketing will survive in the most severe battles ^^
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Hive has survived at least a few battles and the next 2 years are key for our community!
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Great way to see life and push for the best.
!BEER
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Thank you my man!
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This is a very wise advice, the difficult part is to spot those kind of projects and not get rekt if the project fails.
Great advice my friend, always do your research, investments can still go to zero. Well no one knows the future or figured their lives out, we are all trying our best here to be financially free.
Nice reading your positive comment my friend!
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My knee jerk answer, "No, I would not bet that 80% are gone in a decade. But I would bet there will be over 80% more coins."
I guess it comes down to one's definition of "making it". One could argue that as long as someone or two runs a node it's still alive. One could argue that if only one or two are running nodes then it's dead.
I see many new coins and tokens added daily. An 80% increase is wildly conservative.. Of course, most (99.9%), will already be D.O.A. in practicality. I'm pretty sure that's your whole point here.
Merry Christmas
!LUV
Thank you for disagreeing with my view.
I meant value of initial price of the token appreciating significantly over time and not becoming zero dollars
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Ah, got it now. When you put it that way, I entirely agree with your point. Merry Christmas. 😀
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@crrdlx(4/5) gave you
Christmas Puppy
Unfortunately, I think that many of the cryptos will fail in the future.
That is what I like most about cryptos. Anyone who have a device and internet connection can invest, trade, earn...
English, Internet, Crypto are the main ingredients of virtual countries.
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Interesting read. Many things to consider before investing into crypto or any other venture. It shouldn't always be about the hype but about the long term potential.
Same with Hive-Engine I suppose.
You're absolutely right.
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Most of them won't make through to the next decade. You might be too early or you can't adapt to the new technology. Or if they come in with no plan, it can easily spell the doom for many of the alt coins.
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80% failing so that would be 4000-5000 of them failing ? nah i dont think that many will...maybe
Let's see in 2030
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Would you say investing in new coins is a luck situation or a game of chance since it might work or not?
Certainly, lucks plays a part for sure!
DYOR, developing high EQ and cultivating long term thinking is the foundation of crypto investing.
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That is true regardless of luck, research and knowledge are also essential.
Well it's a 50-50 scenario some may make it narrowly
I think the same culling will happen. Only projects with meaning will succeed.
Absolutely. Most of them won’t make it. The challenge is to find the next one which does survive. Something which has potential and user adoption like Hive?
That's probably going to be the case... 80/20 rule and all. Hive's been around 5 years in some shape or form so that's a good track record i suppose.
80/20 rule generally true for investment too. 20% of the holdings in a portfolio are responsible for 80% of the growth.
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.
Interesting point of view.
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