We’ve all heard the statistic that if you bought $1,000 worth of Bitcoin in 2010 (at about $0.13 a piece), you would now be left with an astounding $55,384,615 (assuming the current price of Bitcoin is about $7,200). Unfortunately, many of us were not forward looking enough to invest in Bitcoin when it was first founded. Now, however, some Bitcoin analysts promise us that it’s not too late to take advantage of major returns on Bitcoin. That’s the viewpoint I’m here to refute.
Obviously, if you are one of those forward minded people who bought Bitcoin in 2009 and now own millions of dollars in Bitcoin, you made a very smart decision. Since the value of one Bitcoin was as low as $0.06 in 2009, it didn’t take much gain for you to make massive returns. If Bitcoin grew by even 1 cent, you made 16.67% returns, more than many stocks make in a year. If Bitcoin grew $0.06, you doubled your investment. Now, however, with the price of Bitcoin hovering around $7,000 to make that same 16.67% return that you made when Bitcoin grew 1 cent in 2009, Bitcoin would have to grow around $1166. To double your investment, which only took $0.06 in 2009, Bitcoin would now have to grow over $7,000. The most radical expectations of Bitcoin have it reaching only $1 million per coin around 2025. Even if that happened, and you bought Bitcoin now and held it through that entire time, you’re only seeing 14,000% growth, or 1,750% growth annually. For comparison, when Bitcoin was $0.06, to achieve 14,000% growth, it only had to grow to $8.50 or so. That growth took slightly more than a year, and occurred in 2011.
Bitcoin proponents excite buyers by claiming that Bitcoin will continue growing at massive rates. But the key is, they only ever cite growth in dollars. If Bitcoin grows to $10,000 by the end of 2017, Bitcoin users get excited for their returns. But what if instead they said there would be growth of 40%? Now it doesn’t sound as impressive.
The key to massive returns is percentage, not price. If I buy an altcoin for $0.005, and it grows to $1, it doesn’t sound as impressive as if I buy Bitcoin and it grows from $500 to $7000. But the truth is that the first situation sees growth of almost 20,000%. The second situation sees growth of only 1,300%.
Obviously, many ICOs and low valued coins are extremely risky, far more so than Bitcoin. However, if you’re one of those people looking for massive returns, don’t look to Bitcoin or other mainstream cryptocurrencies. Look into small cryptocurrencies, with prices smaller than 1 cent. These have the greatest chance of getting you those 10,000% percent returns we’re all looking for.
Don’t fall for the high price rhetoric. Price doesn’t matter. Percentage does.
Final Note
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