Stock Market Wealth
Become A Wealth Machine
This will shock you, but it’s dead-on.
Wealth Research Group’s sole mission is to publish the most in-depth financial data that works for you.
In October 2008, Satoshi Nakamoto published a paper describing the Bitcoin digital currency. It was titled Bitcoin: A Peer-to-Peer Electronic Cash System.
In January 2009, Nakamoto (an unknown programmer or a group of them who are estimated to own up to 1M coins, worth over $2B) released the first Bitcoin software that launched the network and the first units of the Bitcoin cryptocurrency, called bitcoins.
Nakamoto created a Website with the domain name Bitcoin.org and continued to collaborate with other developers on the Bitcoin software until mid-2010. Around this time, he handed over control of the source code repository and network alert key to Gavin Andresen, transferred several related domains to various prominent members of the Bitcoin community, and stopped his involvement in the project.
The inventor left a text message in the first mined block that reads, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” The text refers to a headline in The Times published on January 3rd, 2009.
Since 2009, the price of Bitcoin has exploded and turned many people into millionaires and multimillionaires.
We suggested two other cryptocurrencies since March that have gone parabolic.
The prospect of quick riches is now attracting many into cryptocurrencies, which gives me the opportunity, along with my partners, to explore the intrinsic value of these various coins.
To truly understand this concept, it’s important to go over all the different aspects that investors ascribe to the cryptocurrency payment system.
But let’s not forget that there are over 700 cryptocurrencies, digital coins, and altcoins in existence today and there will be over 1,000 by the end of the year, so this argument will not hold in the test of time.
Gold and silver, however, cannot be created by man like developers springing up new coins.
If you and I hold the only two remote controlled pens in the world, this doesn’t guarantee their price will rise in time. A limited amount has its advantages, but it is certainly not the main reason why Bitcoin is going parabolic.
Cryptocurrencies are able to freely be exchanged among individuals solely due to the fact that many government agencies throughout the world, for good or bad, control, monitor, and regulate the grid systems, electricity systems, the Internet, the companies that provide telecommunication services, satellites, and much more. In the big picture, this total lack of oversight that some in the cryptocurrency community cheer for, may be naïve thinking on their part.
In the same way as today’s cryptocurrencies are far more advanced than PayPal was, tomorrow’s will be more advanced than the current ones.
This raises the question of sustainability: are cryptocurrencies scalable, possessing long-term advantages? How much would a tape recorder sell for today? Obviously nothing, because there are far more advanced musical solutions.
The number of terrorist attacks prevented by the fact that agencies like the Mossad, MI-6, and others are able to trace currency wires and cash transactions using marked bills, has saved thousands of lives, and maybe even millions of lives.
What, then, are the intrinsic values of Bitcoin, Ethereum, Dash, and other successful and popular coins?
The answer is whatever the free market believes their value is.
Cryptocurrencies have a utility as a cheap and efficient payment system that is relatively anonymous, outside of government reach, doesn’t require middlemen, and is global.
But it’s us, as a community, who place a price tag on that, and many are placing that tag for the wrong reasons – a get-rich-quick mentality.
To many, like those with low technological skills, Bitcoin is worthless, while to others, it’s practically a religion – there’s even a “Bitcoin Jesus.” In the great African continent, a Picasso painting is useless, but for a rich collector, it is worth millions. Value comes from use – how can something increase my quality of life?
When you own a bitcoin, you truly only own one thing – 1/21M of a payment system that is used by others.
The exploration of intrinsic value for these coins has led me to make some key observations:
My wife, which I court and spoil, my baby daughter, whom I am forming a deep connection with, my friends, who want my attention, and my family, who want to share experiences and to be around are my most valuable things.
Also important are my talents, which need time to be refined, and my knowledge base, which requires devotion and passion to increase.
Value these things first.
With every thought and every decision, look at how you can create value for others. That’s the formula for growing in wealth, and it’s the formula for how to build a culture of happiness around you.
The more cash comes in, the more you are able to enhance your experience.
This weekend, think of how you invest every 24-hour session, which we all get, rich and poor, and learn to value yourself and your time.
Make some changes if you see too much time devoted to non-essentials. The most valuable asset in life is time. It’s not only limited, but once it’s gone, it never comes back.
Personally, I don’t spend a second watching mainstream media or speaking with negative people. I avoid gossiping, thinking about other people’s lives, or aimlessly watching TV.
Use your time wisely, find the best return on investment for your precious time, and make sure to think long and hard about how much you bring to the table in every conversation and interaction with others – it will change your life.