Almost anyone in a first world country can become a millionaire.
It’s not quite as hard as you may think.
There are volumes of books written in order to show regular everyday people
how to get from working a normal mundane job, getting your boss rich,
to earning not just six,
but seven figures, easily.
And no, these aren’t “get rich quick” schemes,
legit ways of starting a wealth snowball when you’re younger.
As you move into your 30s and 40s,
that snowball can get impressively large.
But let’s be honest.
Most of you are already that age,
and you didn’t have the foresight to plan for your future.
If you’re kicking yourself for mismanaging your money when you were younger,
that’s okay
because Bitcoin is the ‘Hail Mary’
that can still get you into the end zone.
Let’s get it.
Welcome to BitBoy Crypto!
My name is Ben.
Everyday, I show you how to make money in cryptocurrency.
If you like money,
then make sure to hit that Subscribe button and tap the bell
so you don’t get a case of the BitBoy FOMO.
And don’t forget also, guys, to enter our full Bitcoin giveaway,
going on right now at enter.bitboy.live.
In this video,
we’re going to be looking at two ways you can become a millionaire,
and it’s a lot simpler than you may think.
We’re also going to be digging into news from the CFTC
as people in the government are bullish on Ethereum.
Shocking.
Sorry, XRP army.
Ethereum could be becoming the teacher’s pet of cryptocurrency.
We will catch up on the exchange platform we discussed a few weeks ago that mooned,
and we will take a look at MetaMask’s new built-in swap feature.
Does this spell trouble for Uniswap and 2nd layer solutions for Uniswap features?
It’s hard to tell right now. We’ll dig into it.
First though,
let’s look at the two easiest ways for you to become a millionaire.
That’s why you’re here after all.
Like, crypto news is good and all,
but if you didn’t see an angle to make money off of knowing that news,
then you wouldn’t be paying attention or watching
this incredibly beautiful face.
I mean, who’s sick enough in the head though to watch videos about making money in cryptocurrency everyday without caring about making money?
In it for the tech, right?
And I know you guys like money.
And the dream for most people is seven figures, a card-carrying member of the millionaire club.
And it’s actually extremely easy to do.
The first and easiest way to become a millionaire
is to invest $100 per week into an interest-bearing account
and make extremely conservative investments.
Kevin O’ Leary from Shark Tank believes that anyone who does this,
starting at a young age, in their teens or 20s,
will become a millionaire by the time they are of retirement age.
That is a lot of money over someone's lifetime.
However,
I know you, guys.
You didn’t get involved in degenerate crypto gambling because you’re good with money.
At least most of you didn’t.
You got into it because you see it as your last chance to get rich and make up for all the mistakes you made as a youth.
Ordering 35 tacos after your nightly smoke session at college probably wasn’t your wisest way to spend that money.
But that’s okay.
I got you.
I was there too one time.
I was reckless with my money.
Heck!
I’m still reckless with my money.
But I got into this stuff to make gains
enough gains
to make up for it.
And this next bull run is your opportunity to do it as well.
While we’ve been looking at plans of buying and selling throughout the bull run,
one big name,
big money, mega-millionaire investor,
says your best chance to become a millionaire is happening right now.
The second way to become a millionaire
according to mega-millionaire Raoul Pal
is to own 1 Bitcoin.
That’s it.
And I know that maybe for some of you guys that sounds like a dream,
but many of you could scourge together enough to get one full BTC.
Heck, split with your dad.
Pal believes though that an enormous wall of money is coming into Bitcoin ASAP.
In 5 years, the price will reach $1M.
And if you invest wisely now,
you can become a millionaire and look like a genius in spite of the fact
that you spent all that money in your 20s on booze cruises.
If you don’t know Raoul Pal,
he’s a former hedge fund manager and is known to be one of the foremost investing experts in the world.
Not residing in this chair.
Working for years with Goldman Sachs,
he really understands the money flow and worldwide macroeconomics.
And he sees this coming.
At one time, Pal invested only a small amount of his portfolio in Bitcoin,
now, in a mega-millionaire’s portfolio, he has 50% in Bitcoin.
It kind of tells you what you should be doing, right?
Make moves like the people who are millionaires already,
and you will find yourself rubbing elbows
with old guys on yachts
before you know it.
You may want to bring some hand sanitizer.
Interesting news coming out of the CFTC though
is Chairman Heath Tarbert sat down in a recent interview with CoinDesk
at a virtual conference.
Tarbert covered a wide range of topics, including the BitMEX investigation,
where he also hinted more trouble could be coming for derivatives platforms acting as off-shore casinos,
according to him.
But Tarbert showed during the interview that the mainstream adoption of altcoins may not be far.
People have been floored by the following clip from the Commodity Futures Trading Commission Chairman.
Check it out. Courtesy of CoinDesk.
Now, let me just basically say how impressed I am with Ethereum, you know, full stop. Period.
And when I think about this as a regulator,
you know, I think of it almost analogized to email versus the internet.
If Bitcoin is email,
you know, a one-trick pony, so to speak,
but obviously revolutionary,
Ethereum goes far beyond that.
It’s more like the internet.
Oh, you maxis.
I bet that feels pretty raw to hear the head of the CFTC calling Ethereum impressive and anticipating its development and use.
I thought Bitcoin was the only one coin out there that wasn’t garbage.
Amazing how much you can learn when you pull head out of your…
monocoinistic portfolio.
I mean,
is it really even a portfolio if it only has one coin?
It sounds like one of those fancy commemorative nickels they sell on Fox News in the day time hours.
It comes with a cool clear plastic case.
But facts are,
and I told you this yesterday,
Ethereum is going to be taking over the world soon
and creating what will forever be known as the “Internet of Value.”
More automation, more seamless and digital exploration,
and increasing the time even more,
that you never have to actually communicate with a real life human.
Speaking of decentralization,
browser extension MetaMask may be trying to corner the market on DEXs.
A new feature now allows users to swap tokens within their MetaMask without having to plug into anything.
Server security, it’s a great thing.
Now, it does use third parties, which we’ll get to in a second.
Right now, my Chrome version hasn’t updated,
but my Firefox MetaMask wallet is allowing me to swap right now.
I mean, how lazy is this?
I don’t even have to go anywhere!
It’s worse than DoorDash.
Before you know it,
I won’t be leaving my house or leaving my crypto wallet.
At least, I’ll never leave my wallet at home.
MetaMask though is not technically doing the swaps internally.
They are acting as a third party
to facilitate these transactions
between you and other exchanges.
MetaMask will compile a list of quotes from other DEXs.
After you choose the trade that makes most sense for you,
MetaMask will facilitate the transaction.
Now,
I actually have some really big news out in the few days,
maybe the next week,
about a site doing this,
that will actually blow the MetaMask function away.
So make sure you stay tuned for that.
Speaking of platforms we like,
let’s check up on CXN.
You may remember this project as it absolutely mooned
right after we covered it.
You may look at the chart on CoinGecko
and be able to pinpoint exactly when my video was pertaining to it.
Any time there’s hype and build-up, there must be a release.
But here is what I always judge my video's success on.
Did the price return to lows it was at before the video?
CXN did not.
It’s been on a pretty nice uptrend for the last couple of weeks.
This is a project I’m actually working very closely with for the long term,
so this chart is making me feel very good about the decision to be confident in CXN.
Now, I wouldn’t be surprised if it doesn’t take another leg up here very shortly.
Maybe even this weekend.
Now, one thing I really like is that when it comes to CXN,
they don’t have any affiliates or arbitrage bots bringing the price down
because CXN is set up to prevent these bots from making a profit and bringing your portfolio down.
Some say automation would be the downfall of mankind.
I mean, we’ve all seen The Matrix.
But sometimes, it can just send your coins down in value.
You see, each of us,
when we buy tokens in a decentralized exchange,
such as Uniswap,
exposes ourselves to the risk of being robbed by an arbitrage robot.
How does this happen?
Well, when you make the decision to exchange or swap one token for another,
you go to the exchange website,
select the required tokens,
and send the transaction to the Ether network.
A transaction is a so-called request,
the processing of which results in an exchange.
But the transaction is not actually executed at lightning speed.
As a rule, some time must pass to complete the exchange,
which directly depends on the amount of gas,
or, in other words,
the commission you’re willing to pay.
That’s how you have to look at gas. It’s a commission.
So, first, your transaction goes to the pending transactions pool.
This is the place where all types of requests in the Ether network flock.
It can be a request not only for exchanging tokens,
but also requests related to staking,
transfers of funds from one account to another,
requests to create new smart contracts,
and many more.
So, pending transaction pools can be represented as a long queue,
but the order of processing requests in this queue
depends on the amount of gas specified in each specific transaction.
Moreover, this queue is visible to absolutely all users of the Ethereum network.
It means that anyone can see your request as soon as it enters into the line.
Now, imagine that you’ve sent a request to buy a certain amount of N token for ETH.
This is where the arbitration robot comes into play,
which sees your transaction and knows how much gas you specified.
First of all, they send their transactions which exactly duplicate yours,
with the exception of the amount of gas.
The value of which the robot indicates is slightly higher than yours.
This results in the robot’s transaction being executed ahead of yours,
but the process doesn’t end there.
Next, the robot sends another transaction which also duplicates yours,
but he indicates the amount of gas in it below
so that it will be executed later.
All this leads to the fact
that the robot’s transaction is executed a little earlier,
and it can raise the price of the instrument quite high.
After which, it will be your transaction’s turn,
and you’ll exchange tokens at a very bad price,
and even increase the exchange price,
with the benefit for the final transaction of the robot.
So what will work for you with little or no risk?
Now, these robots are not on CXN
because 3% of the volume from each transaction associated with the CXN token is burned.
And this leads to the fact it will not be profitable for robots to engage in arbitration with CXN,
which means you’re not going to fall victim to this calculated mini scam.
I mean, it’s not stealing,
but it’s certainly shady, so make sure to be careful.
Thank you to CXN for sponsoring this video.
That’s all I got.
Be blessed.
BitBoy out.