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Thanks to Bitcoin, I’ll be Retiring Next Year

in All Posts/Black Money by

By now you’ve heard about how Bitcoin and the cryptocurrency market are creating wealth for investors at a phenomenal rate. If you want to find out more on the industry, you could look into something like ico news, to find honesty and transparency into the cryptocurrency media space.

This time last year the price of one Bitcoin was around $700. As of today, Bitcoin is over $15,000.

bitcoin

You may also be someone who is interested in learning how to start investing, but are confused about the market and how to get started. To clarify some things, I reached out to Walli Gold.

He’s been successfully investing in cryptocurrency for years and is now on a mission to educate others. This is what he had to say.

SB: For those who are unfamiliar, can you briefly explain Bitcoin and cryptocurrency?

WG: Bitcoin is a financial revolution in a nutshell. Historically, it came about because of the great recession back in 2009. People lost their shirts because there was way to much confidence in financial institutions to do the right thing but they weren’t. All the bad decisions that were powered by greed led to people suffering at the very bottom.

Bitcoin was created to give control back to the people. It wasn’t backed by anything but faith and a ledger that kept track of how much bitcoin was in circulation.

It could be mined it could be bought. It gained popularity in small places (mostly tech areas like San Francisco and Seattle) and expanded.

SB: How and when did you first learn about Bitcoin?

WG: Bitcoin was introduced to me in 2013 by my college roommate who purchased some and mentioned it to me in passing while on a phone conversation. He’s one of my best friends so I take him seriously when he mentions anything. At the time it was still virtually unknown.

I went out to Seattle and I saw that people were utilizing it but it still did not click with me that this would be a thing worldwide.

After I built some faith in it, I purchased some. When I really recognized its potential I actually cashed my retirement out, took the penalty and bought bitcoin with it.

I pulled my stocks and did the same. My father thought I lost my mind but he gets it now. My mother is still extremely apprehensive about it. Interestingly enough, they both retired last year and I’ll most likely be retiring in a year.

SB: What do you feel is responsible for the growing popularity of cryptocurrency worldwide?

Corruption. I think corruption has played the biggest part in the expansion of bitcoin. People are currently putting faith into the banking industry that is giving them .02% interest back which means they’re just really holding your money for you.

They want you to have a savings account because they know the reality is that their average customer only has a savings of $500 USD and $1000 in checking at any given time.

Their system is amazing because they have convinced people to give them their money to hold and they “think” about giving the average person a loan. I cash every paycheck I get and I turn it into bitcoin.

I make more than the average person does at my regular job so since July, I’ve been buying another bitcoin every Friday without hesitation, it is so easy to buy bitcoin, you can find a wide-range of websites online! One being, paxful.com. It was so exciting, another move that I had been told was insane. I’ve just chosen to move without fear. It was calculated and I know I’m young enough to start over with nothing and still make my way to millions again.

SB: How do you feel cryptocurrency can benefit the Black community economically?

WG: I think this is the Black communities opportunity to get their reparations. But the problem is they are late to the game if they are only thinking about bitcoin because financially, that ship has sailed.

A well known “financial educator”who initially told Black people that bitcoin was a scam is now hosting seminars about it.

This amazes me because he has a voice and should have done more investigation before damning it. That probably cost a lot of African Americans money. Now he’s trying to benefit from it by stuffing his pockets telling people what they can easily research themselves.

We cannot afford to be late to the party anymore with this Trump Tax plan. Altcoins are what is going to help us obtain bitcoin. They are the key to our economic revolution.

I would rather see us invest in a altcoin that costs $2.12 that will go to $89 in two years then bitcoin because the rate of return is going to be larger on the altcoin.

SB: What effect has investing in cryptocurrency had on your life?

WG: It’s changed my mentality. Now I see things differently. I’ve felt like I was always going to be wealthy but I didn’t know how.

I don’t have the same day to day worries about bills that I used to. I don’t even worry about the police. I always worried about getting caught speeding or whatever now I really could care less.

Maybe that’s dangerous but mentally that’s where I’m at. I’ve also gained more of a sense of community. I have always had one but now I’m realizing that its gonna be lonely on that boat if my friends still have to try to get vacation time.

I want to own more now and I have the means so it’s a blessing truly.

SB: Do you feel its too late to invest or there is still room for the price to increase further?

WG: I don’t think it’s too late if you have the capital. In the next 3 years Bitcoin is going to hit $500k for just one. The next 6-7 years, it will be a million.

But, the average person doesn’t have $11K sitting around, which is why I circle people back to the Altcoin market which has ridiculous potential. We’re talking almost overnight wealth at times.

SB: Bitcoin is the most expensive cryptocurrency. There are several others (Alt coins) that are more affordable. Which other currencies are you investing in or keeping an eye on and why?

WG: I am watching about 20 coins right now, I own roughly 12 different Altcoins. My plan is to hold 1000 of each of 20 different Altcoins. All of them have great potential they are different prices.

I suggest people purchase them below $4. That will allow them to have a good insert point to make a good amount once they hit around $50 or more. Of all of them I think Vertcoin has the greatest potential.

Bitcoin is Jackie Robinson. It’s the first one, but Vertcoin (in my opinion) is the Reggie Jackson and it’s moving up at a phenomenal rate. I watched it move from $3.50 to $9.21 in three weeks.

That’s more aggressive than bitcoin and litecoin were moving when they were in that area.

I like Verge coin, Pillar, Einsteinium, Ark, Civic, and Litecoin which is $100 but still deeply undervalued. Those are some that are low cost with very high ceiling once we get to mass adoption.

Only 2% of the world right now is trading or using crypto regularly. Once it gets to 5% its ballgame. New millionaires will be created almost over night. It’s already getting to the point where there is a software called Gunbot that has be made to help automate peoples crypto-trading. It is meant to help them make the most profit from trading them.

SB: Where do you see Bitcoin in the next 5 years?

WG: $750k range. If you chart it it’s headed there by 2023. Amazon is getting ready to accept it as payment which is a brilliant move on their part.

Interestingly enough I’ve tried to convince friends who own businesses to start taking payment in bitcoin and they are once again… Late to the party. I don’t even like looking at U.S. dollars anymore.

SB: What do you say to those who feel this is a fad and its “too early to tell” if cryptocurrency is valid or not?

WG: Good luck. If the U.S. economy tanks which is a inevitable possibility they’re gonna wish they were bolder in their movements financially.

The Dow is too high, it’s based on perception without true intrinsic value. That’s dangerous, this tax plan coupled with the national debt expanding and automation becoming more prevalent is a perfect storm brewing.

I pulled my money out of the stock market and banks because I foresee this.

If you look at Greece some years ago the average person could only pull out the U.S. equivalent of $50 a day. That’s headed here because we’ve allowed the banking industry to regulate itself.

The power of bitcoin is that you cannot inflate the bitcoin community with anymore bitcoin. There’s a set amount in circulation and there won’t be anymore unless the amount that Satoshi has is released to the public which is unlikely.

SB: What advice would you give someone who is interested and wants to start buying Bitcoin or other cryptocurrency?

WG: Do it. Don’t make it an emotional decision though. Stop hesitating. People seem to have more faith in banks that have notoriously been robbing people for hundreds of years rather than something unregulated by crooks.

The proof of what block chain is doing is in the pudding. Don’t speculate your way out of building true wealth.

When you’re ready to start trading cryptocurrencies, sign up here to get $10 of free bitcoin with your first purchase of over $100:

Join Walli’s Facebook group, Off The Blockchain to find more information about cryptocurrency investing.

=>DISCLAIMER: This is not financial advise. Alawys do your OWN research before investing your money in anything<=

-Tony Oluwatoyin Lawson aka @thebusyafrican

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