Think People Got Rich From Bitcoin? We Haven't Seen Anything Yet..

Authored by Simon Black via SovereignMan.com,

Recently a group of archaeologists and anthropologists published a really interesting, comprehensive study of prehistoric civilizations and their sources in wealth.

It turns out that the most prosperous people and civilizations across ancient history– and I’m talking 10,000+ years ago before any recorded history– were those who harnessed new technologies to become more productive.

Back then it was all about agriculture.

And while it all seems so simple and obvious to us now, the use of large animals like horses and oxen to plow fields was considered game-changing technology for these prehistoric tribes.

The researchers surveyed data across a number of civilizations and found a much higher level of prosperity in places that used animals, versus places where farmers plowed their fields by hand.

The use of animals was a huge multiple of human labor, so farmers could extend their fields far beyond what was ever thought possible… and hence produce a massive surplus of food.

Moreover, they soon discovered that animal manure was an effective fertilizer that only enhanced crop yields.

More volume, more efficiency, higher yields… precisely the results that great technology produces.

Quite simply, the people and civilizations which embraced and used the technology prospered. Those who didn’t got left behind.

We’ve seen this over and over again throughout history. The printing press. The advent of machinery in the Industrial Revolution. The emergence of the microchip. The Internet.

Now it’s the technology behind cryptofinance which absolutely has revolutionary power to disrupt the existing financial system.

Think about it– every single financial function that banks currently monopolize, from deposits to lending to money transfers and currency exchange, can already be done better, faster, and cheaper outside of the banking system.

Banks take days to transfer funds. Blockchain transactions take an hour, maybe minutes… sometimes seconds.

Banks charge exorbitant fees to change from one currency into another, as if they have to put a ton of work into finding a buyer for their customers’ euros and US dollars. Give me a break.

Online platforms can do it at practically no cost.

Banks also charge exorbitant fees to make loans; it’s pretty standard for borrowers to pay at least a 1% to 3% origination fee up front, before you start paying interest.

Yet Peer-to-Peer sites squash these costs down to almost nothing.

Banks no longer have a competitive advantage in finance, and it’s only going to get worse for them.

The technology is powerful and game-changing. And again, those who don’t adapt will be left behind.

On the flip side, it’s obvious that a lot of people have made a lot of money in cryptocurrency.

And that’s great. Plenty of money has been made… and there may likely be plenty more money to be made speculating in the cryptocurrencies themselves.

But the big money has always been made by the folks who were on the forefront of developing the technology and applying it to bigger and bolder uses… NOT speculating on price volatility.

Back in ancient times, once people discovered that horses and oxen could multiply the labor of human beings, there were probably plenty of traders who made money speculating in animal prices.

But the real wealth was made by people who applied that new ‘technology’ to bigger problems and fundamentally changed the way their societies did business.

This will very much be the case with crypofinance.

The real prosperity isn’t in chasing the Bitcoin price higher, and certainly not in the latest ICO craze.

The real prosperity will be for the visionaries, entrepreneurs, and investors who back them– those who develop this technology and apply it in ways that fundamentally change the way we engage in finance and commerce.

So if you feel like you ‘missed’ Bitcoin, don’t worry: we’re just at the beginning of this phase... you haven’t missed anything.

In fact we haven’t even begun to scratch the surface of those application opportunities.

And the wealth and value that will be created from them will absolutely dwarf all the gains made in crypto so far. We haven’t seen anything yet.

And to continue learning how to safely grow your wealth, I encourage you to download our free Perfect Plan B Guide.

Comments

Linus2011 Tue, 12/12/2017 - 18:20 Permalink

and why has no major corporation implemented their own cryptocurrency like amazon, paypal or google so that the damned thing would make any sense at all for it purpose - payment? because they would be most likely be killed by the zionists. which prooves the existence for this corrupt class.  

IH8OBAMA Clock Crasher Tue, 12/12/2017 - 18:35 Permalink

"It turns out that the most prosperous people and civilizations across ancient history– and I’m talking 10,000+ years ago before any recorded history– were those who harnessed new technologies to become more productive."Now that is impressive. To claim to know what happend before any recorded history.  LOL   Excuse me if I call this statement Bull Shit, Simon. 

In reply to by Clock Crasher

Automatic Choke TwelveOhOne Tue, 12/12/2017 - 19:29 Permalink

Now you can buy real coin to take sides in the continuing argument at Apmex:https://www.apmex.com/product/87366/1-oz-copper-round-bullion-not-bitst… above is a copper coin signifying "bullion not bits"https://www.apmex.com/product/157878/1-oz-silver-proof-round-bitcoin-va… above is a silver "bitcoin" coin.I haven't seen a gold bitcoin coin, but perhaps elsewhere.....(I'm thinking of buying 100 or so of the first to hand out to friends, but most wouldn't understand....) 

In reply to by TwelveOhOne

Delving Eye TwelveOhOne Tue, 12/12/2017 - 21:28 Permalink

Biggest problem with BTC is COINBASE -- the place you trade Bitcoin. One holder of BTC wanted to sell at a profit, but coinbase "wasn't functioning" until the whales had taken their mega-profits. After that, coinbase started functioning for the peons -- and by then the price had dropped, and so had the value for the peons.Remember, COINBASE is unregulated. There is no one to complain to, no management level that listens to peons, and no fair treatment. Transactions are manipulated to suit the elite whales. It's a rigged game.

In reply to by TwelveOhOne

TwelveOhOne Delving Eye Wed, 12/13/2017 - 13:18 Permalink

There are mitigating strategies.  If I was faced with this, I would have had my BTC somewhere other than Coinbase, so I'd be able to move it to e.g. WEX and sell it for dollars there, and leave it there. I couldn't withdraw, but I could wait until Coinbase was functioning, then:

  1. Convert to BTC;
  2. Move to Coinbase (half hour or so);
  3. Sell.

 

In reply to by Delving Eye

nope-1004 IH8OBAMA Tue, 12/12/2017 - 18:57 Permalink

"Buy now or be priced out forever."LMFAOI have a number of concerns.1)  The fact that the CIA released a white paper on cryptography a few years ago essentially giving a road map for how to go cashless.2)  The NSA developed code behind blockchain advancement3)  The glaringly obvious bigcoin 'gold' logo reference.4)  The US bankers allowing futures to be traded in it, thereby bringing it under their monetary umbrella.5)  Images spreading across the internet of a handful of gold bigcoins (like above) on a table, denoting some type of legitimate investment regime.  Who mints bigcoins?  Where are they for sale?  The image is a LIE.I would bet that bigcoin is a direct assault against real money, being gold and silver, by the Western elite and .gov.  It just all reeks of some type of nefarious plan to go cashless.I don't give a fcuk if you downvote me because you made some coin speculatin'.  If you can prove otherwise, bring it.  Otherwise, be happy you're a .gov pigeon and a part of this crowd-coding advancement. 

In reply to by IH8OBAMA

One of these i… Mustafa Kemal Wed, 12/13/2017 - 05:28 Permalink

I'd have done it long ago, but I can't get my head around where the actual value is, and how I would realise it without a fuck of a load of assistance. (Many of my previous schemes have foundered as soon as I involve or need assistance from other people).At least my PM is a thing I can understand why it has value, and if push came to shove I COULD use it to buy a big box of cornflakes , (albeit at a loss over the spot price) from the village shop whereas, bitcoin I suspect, not so much..  

In reply to by Mustafa Kemal

NobodyUknow One of these i… Wed, 12/13/2017 - 09:58 Permalink

What's the "Value" of going to Vegas or your local casino and tossing down a few dollars for the tokens they use in the casino? You get a little bit of fun time gambling and maybe you make more of the casino tokens to convert back to US Dollars or maybe you lose it all and go home without that "play" money. How much "value" do you get going to the movies and spending $10 +/- for a 90 minute movie? It's entertainment for your dollars yes but spending that $10 didn't really change your life. You didn't learn anything in the movie that'll change how you live your life or make you a Wall St Guru or super programmer. It was a movie. It was entertainment and you spend a few dollars for that experience. So why not throw a few bucks into Litecoin or Bitcoin or whatever and just see how it works. Treat it like a trip to the casino or movies. Or treat it like the $5 mocha latte you got this morning. It's just a few dollars and you'll get some entertainment or enjoyment from it. If it goes to zero so what. My mocha cup goes to empty at the bottom too. I don't cry over the $5 mocha latte that disappeared. That said, if you do decide to play/explore and will put $100 or more into Coinbase and into a cryptocurrency you can get a $10 of free BTC if you use a referral link when you sign up. So, initial 10% return if you buy $100 in a crypto of your choice. The link I used when I signed up was from the website of The Survival Podcast. If you do a web search for THE SURVIVAL PODCAST CRYPTOCURRENCY you'll probably find the recent podcast episode where he goes over a lot of real info vs myth on cryptocurrencies. It's a good listen. At the top right of the page was his link to Coinbase for the referral program. It's up to you if you want to use it and get $10 free BTC. He'll get $10 worth of BTC too.All I know is this is the most exciting technological development I've seen since online shopping really got going. I was using computers back before the internet was a thing. It was exciting using my first computer. Then getting a modem and finding "bulletin boards" (other computers) that I'd use the modem and phone lines to make phone calls to connect computer to computer. Exciting! Then came AOL as a centralized place for computers to connect to instead of peer-to-peer. That introduced people to "electronic mail", or e-mail, or email. Then came the broader world wide web (that's what the www is in all the URLs we visit). That was the internet, but still just web pages of static information to read. Then came very early online shopping and web banking. Can you imagine today if the government just killed the internet? Could you go back to paper bank statements, writing checks and reconciling your register by hand? Can you imagine no more Amazon or eBay? You can only get what your local stores carry, and only when they're open. Can you go back to hand writing letters? (I do have fond memories of receiving letters with a drop of perfume on them from a certain girl though!). Cryptocurrencies are still SUPER early. In the early days of computers only geeks played with them. "Regular" people couldn't see why they'd need one. Same with the web. It wasn't until I sat down and showed my dad Yahoo Finance and live charting that he gave up his ValueLine paper subscription and actually valued the computer. It wasn't until we kids sat down and FORCED mom to try email that she learned how. Then she adopted it whole-heartedly to communicate with her siblings, kids, and friends across the world. It was just easier than playing phone tag and dealing with voicemail when she wanted to let friends know something. She could send one email to 10 people instead of making 10 phone calls. She could type out and send a question to a kid anytime of the day and that kid who was stationed overseas in a very different time zone could get that email whenever it worked for them and reply. Email was just a better method of communication. Whether people see it or not YET, there are a lot who believe we're in the same early adoption phase of crypto currencies. When you really consider, we already use e-currencies. When you shop with a credit card you're dealing with an electronic currency (e-USD). You're touching plastic. The merchant is touching plastic, and neither of you touch paper US Dollars. It's just an electronic transfer of virtual US Dollars. A huge majority of Americans have moved away from paper dollars in regular transactions. So that huge majority of Americans are already using a virtual currency. It's just called the US Dollar. It's controlled by the US Government who can sieze it, or inflate it, or devalue it to nothing by borrowing, borrowing, borrowing....  If you're just learning about cryptocurrencies think of it like electronic Euros or another "foreign" currency. It's not a US Dollar, but it is a currency that people value and some (a growing number!) of merchants accept. If I had a PayPal account that held some Euros because my friend in Germany send me 5 Euros as a birthday present I can still spend those 5 Euros at any merchant that accepts PayPal. PayPal handles the conversion. The merchant receives the equivalent in US Dollars. If I spend 5 USD at a merchant the merchant received 5 USD. If it spend the value of 5 Dollars of Litecoin or Bitcoin at a merchant they're probably using BitPay or a similar payment processor and the merchant receives US Dollars. We keep being told we live in a global world. The US Dollar AKA Petro-Dollar has been the default world currency for decades but the US Government keeps mistreating the US Dollar by creating trillions of them which devalues them. Foreign holders of US Dollars are not happy. This has happened with every fiat reserve currency throughout history. They all die. Gold has a place here but it's not easy to pay a vendor in China with physical gold, so a huge portion of foreign transactions is conducted in eletronic-US Dollars and electronic-Euros. Those are easy to "move" across oceans but still subject to mistreatment by governments. Crypto currencies are a possible new solution. They're very easy to send, faster than a bank wire, much faster than an ACH/SWIFT payment, cheaper than the bank transfers in many cases, and cannot be inflated away by irresponsible governments just creating more e-Dollars in a computer. Whether Bitcoin and Litecoin last or are replaced by better solutions remains to be seen. Netscape is gone. AOL is gone. They were replaced by better options. Will BTC and LTC replace e-Dollars? Time will tell. Maybe not. Maybe so. Maybe drop $100 into Coinbase and explore how it works, just like the first time you tried email. The first time I tried email I realized there were only 1 or 2 people I knew with email addresses. It wasn't really useful with just 2 friends who could receive my emails. Now everyone has email and that widespread adoption makes it useful. If LTC and BTC get widespread adoption that makes them valuable. So go get a $100 in LTC and teach your friends how to download and use a "wallet" for your cryptocurrencies like JAXX or ALTAWALLET. Have them buy your coffee and pay them back by sending them some LTC. See how it works.

In reply to by One of these i…

Blythes Master Yellow_Snow Tue, 12/12/2017 - 23:11 Permalink

It's a store of wealth.

No one goes to the corner store to buy a 40 and a pack of papers with gold.

It parks your wealth off the radar until you need to use it someday.

Bitcoin is a dot guv scheme, roadmap toward a cashless society.

But you snowflake melinialtards keep running with it. I'll just sit here near the lake of 1000 boating accidents, munching my popcorn, sippin' on whiskey while you build the biggest prison on the planet.

Cheers, cupcakes!

Hey Hillary the Cunt, his name was Seth Rich.

In reply to by Yellow_Snow

greenskeeper carl SHsparx Tue, 12/12/2017 - 19:05 Permalink

There are a few on here I trust that have said they have. There's plenty of goobers claiming to be rich and talking shit, but there are a few fellow long time commenters on here that I remember talking about this stuff years ago that have been slowly cashing out. Are they 'millionaires' now, no idea. If they are, they ain't saying, which I think is pretty smart, I sure as hell wouldn't either.

In reply to by SHsparx

Mustafa Kemal SHsparx Tue, 12/12/2017 - 19:40 Permalink

"To be honest, I've neither seen nor heard anyone that has gotten rich off bitcoin."I am getting rich quite fast now. Not bad for a working stiff.I put in a little over the last couple years, and now the stash is large enough to take a litte profit without hurting the hodlings too much.Have a cylinder of llibery double eagles coming in the mail from apmex. If this ramp keeps up for another week, I will do it again. I suggest I am not alone and this may affect Au prices in the near future.

In reply to by SHsparx

rbianco3 SHsparx Tue, 12/12/2017 - 19:49 Permalink

They are out there, the first generation adopters and relatively few in number.The second generation adopters haven't quite got there yet but you can feel them getting close. They say don't try timing markets because you can't time a 3, 4, 500% wave - up or down rather split evenly across a handful you like & plant for one year. Get a friend at Coinbase, as long as they are adding accounts in a parabolic way more people are competing for the same thing while some supply siphons out of the markets almost permanently into personal wallets, police departments, or lost when someone dies. I have not seen any yet myself either. That is the only thing making me comfortable enough to siphon a only a few percent of profits a week into metals (vs taking half the profits at time, etc.) is the fact I don't know a SINGLE friend or family member that has purchased one crypto much less made money buying one and my friends are as tech saavy as myself problem is that most of them are living paycheck to paycheck and have been talking about getting in since Litecoin was $17, now they whine they can't afford one and I tell them think % not price, buy the best product not the lowest price. Sure this came across as a sales pitch- hard not to do it sorry.

In reply to by SHsparx

NoPension rbianco3 Tue, 12/12/2017 - 20:26 Permalink

Betcha this....every one of you Bitcoin millionaires opens your mailbox nice and slow.....waiting for the day you get that little letter from your Uncle.

You know...the one reminding you you forgot to pay your vig.

So, according to an article here a few days or a week ago...Coinbase, for one...has been contacted to remit names and account info.

If the Swiss ultimately complied...you can bet Coinbase will comply.

In reply to by rbianco3

NobodyUknow NoPension Wed, 12/13/2017 - 10:10 Permalink

So what? When I sell APPL shares in my Ameritrade account at a gain I expect to pay taxes. If I sell a gold Eagle at a coin shop at a gain I expect to pay taxes. If I sell BTC at a gain I expect to pay taxes. Track your entries/basis and your sales/gains/losses and put them on your tax return just like other capital gains. Not a big deal. You're only paying taxes on gains. If you sell AAPL at a loss you report it. If you sell your gold Eagle at a loss you report it. If you sell BTC at a loss you report it.

In reply to by NoPension

divingengineer greenskeeper carl Tue, 12/12/2017 - 21:38 Permalink

I listened to Luddites like you in 2010 when BTC was $30 a coin and COULDN’T go any higher. I had the wallet on my phone and chickened out of buying any coins cause it was “In an epic bubble” and “had no intrinsic value”.
You guys can take your “Fundamentals of Investment” and stuff them. I fucked up and listened to a bunch of assholes that can’t get past the 1920’s and I bought gold.
Thanks for all the sound advice....and go fuck yourselves.

In reply to by greenskeeper carl

dasein211 Linus2011 Tue, 12/12/2017 - 18:27 Permalink

Because centralization weakens their position.

Dear Amazon,
Your amazon coin has been hacked and your private keys compromised. Please send 1000 bitcoin to address xyzyouarefuckedhaha or we will destroy your business.

Thank You-
Hackers who see how stupid people are to centralize their position

In reply to by Linus2011

BarkingCat Citxmech Tue, 12/12/2017 - 19:51 Permalink

Nah, I was around back in 1993 and while I suffered with AOL running on a Geoworks (not Windows) PC, I saw the potential.Only thing that I did not see is other businesses using something like Amazon to sell their goods.I worked with a guy who was working on him Master's in Computer Science and he told me some of his friends were working on software to create a website that could be like a virtual shopping mall. The clients would rent "space" from them I n exchange for part of the profits. I remember asking him, why would a business not have its own website? 

In reply to by Citxmech

ThePhantom Linus2011 Tue, 12/12/2017 - 18:46 Permalink

they are CIA MIC US National Security Interests?i know Seedsman in catalonia takes bitcoin payment... they must be Killing it. they are all racing to get it.. just watch and wait. for your measly little bet.... you could reap heafty rewards. but rather you prefert to trash talk and bluster

In reply to by Linus2011

ghengiskhan Linus2011 Tue, 12/12/2017 - 19:22 Permalink

Overstock.com has created one.  Bitcoin is literally a financial black hole.  It will suck anything of value into it and destroy it.  It will lead every corporation over the edge as they realize they don't need to be businesses anymore and attempt to migrate to this new value-less model and then we will witness monumental chaos.

In reply to by Linus2011