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Ethereum: Your Best Chance To Be A Millionaire in 2021 - YouTube
Channel: BitBoy Crypto
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so you want to become a millionaire in
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crypto
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well you aren't alone that's pretty much
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everyone's wish who watches
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any crypto videos here on youtube with
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bitcoin
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if the price goes to an astounding 300
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thousand dollars per coin
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you're gonna have to own 3.1 btc at the
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current prices which is equivalent to
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about 115
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000 many would argue that if you've got
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an extra 115k laying around
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you don't even need life-changing money
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to begin with you're already doing
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pretty well
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but what if i told you that you could
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become a millionaire with
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way less than half that amount in crypto
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that's the opportunity that ethereum
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presents today we're going to examine
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why ethereum presents such an
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incredible opportunity for people
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looking to change their lives
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financially
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let's get it
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bid swap is the hottest new way to trade
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you the very best price
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and value for your trades bitswap is
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changing the game
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try it now at bitswapdex.io welcome to
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bitboy crypto my name is ben
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every day on this channel i show you how
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to make money in cryptocurrency
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if you like money in crypto then please
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make sure to hit that subscribe button
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if you want to stay up to date with
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everything crypto make sure to follow us
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on all of our social media accounts
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links are down below now in this video
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class is in session we're going to be
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discussing what aetherium is
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what separates it from other
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cryptocurrencies and why
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i believe ethereum is the best
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opportunity in crypto for
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you to change your life make sure to
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watch until the very end when i give you
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the craziest price targets
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you've ever seen for eth now let's start
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out with
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what ethereum is ethereum essentially is
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a smart contract platform i know i know
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i've probably lost some of you guys
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already with the words smart
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contract well a smart contract is
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actually very easy to understand
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i'm not going to get into any nerdy or
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technical verbage intended to make you
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feel like this is over your head
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a smart contract simply is an agreement
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between two parties that is
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contractually filled
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automatically based upon conditions some
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say the easiest way to understand this
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is look no further than a vending
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machine it's a hot day
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and you're at a theme park you want
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something to drink so you head on over
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to the drink machine
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instead of going to the jam-packed
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restaurant you're presented with a lot
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of different options
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but you opt for the lime green gatorade
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because it's
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the best flavor obviously now back in
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the day
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you used to actually have to insert a
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dollar bill or two but these days
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you just swipe your credit card that
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swipe authorizes your card for payment
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then you choose your gatorade for two
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dollars
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the moment you put in b7 your card is
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charged with the equivalent amount
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then the machine's arm goes and grabs
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the gatorade and drops it
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so you can grab it from the slot there
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was never a human
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on the other side of that transaction
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everything was done
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automatically and sequentially based
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upon the conditions
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if every step of that process was not
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followed correctly
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the contract would have not been
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fulfilled and you wouldn't have even got
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your gatorade
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and even if your card was authorized if
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you never made a selection
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your card also wouldn't have ever been
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charged this is
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very similar to the way that smart
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contracts work the ethereum network is a
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platform upon which these kinds of
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conditional contracts can be programmed
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and there is an endless use case of
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things that can be programmed
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to run in this automated fashion in fact
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some people believe that this ethereum
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network can actually
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serve as a new layer of trust on the
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internet
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some people believe this will become
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known as the internet of value
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this is a brand new magical internet
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utopia where we can't be censored by our
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overlords on facebook twitter and
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view so yeah i have to be careful to say
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it backwards so i don't anger my
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personal monetization masters
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but over time we've seen what censorship
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has
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done with smart contracts this is all
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done
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automated and there are predefined rules
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and conditions instead of one day you
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can say one word and the next day you
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can't
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there are so many use cases for these
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types of contracts that it's
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unbelievable
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finance lending insurance predictions
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data privacy
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application building heck even farming
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like real farming
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but of course also yield farming get
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your john deere
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the list of uses are too numerous to
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list
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bitcoin is digital gold it was meant to
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be electronic cash
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the currency of the internet if you will
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but in reality
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now bitcoin doesn't do much it just
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makes people money and holds value
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ethereum on the other hand as you can
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see is an actual
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network with use has tons of use cases
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and application
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far beyond simply holding it for money
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like bitcoin
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the coin of the ethereum network eth
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will always be used to run the network
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to make transactions on ethereum you
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must hold a small amount of eth in order
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to pay what are called gas fees
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this is a small fee sent to miners that
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helps push transactions forward
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in our vending machine example it kind
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of be like the small transaction fee
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the vending machine company itself has
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to pay visa to execute the transaction
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the company has to agree to give a small
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percentage back to visa
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it makes the transaction work so even if
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big companies start buying ethereum as a
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store of value
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the same way they are buying bitcoin for
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their treasuries
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they can't change the purpose of each
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the network needs it to run
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right now the price of one each is about
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one thousand and fifty dollars
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of course last week it was well over
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thirteen hundred and by next week it's
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likely it might have bounced all the way
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back above its all-time highs
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of fourteen hundred dollars but the
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overall market cap
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right now of ethereum is a hundred and
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twenty one billion dollars and that's a
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lot
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a little over twenty percent of
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bitcoin's market cap
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but here's a hidden number that most
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people miss
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the true market cap of the ethereum
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network is about
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twice the market cap that's shown along
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with launching smart contracts the
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ethereum network also launches tokens
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these tokens known as erc20 tokens
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make up a huge amount of the tokens in
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the crypto space
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in fact the majority of all tokens
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available anywhere
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are erc20s built on ethereum and there
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are a few other types of these tokens
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such as erc 1155s and erc-721s
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but they're also built on ethereum we
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take the value of the entire ethereum
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network
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it's almost half of bitcoin's network as
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much press as ethereum gets
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it's still a sleeping giant people don't
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understand
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how tied together the ethereum coin is
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to the success of the cryptocurrency
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market in general
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but ethereum has not been without its
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problems the main problem with the
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network has been that often
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it gets clogged to send a transaction
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through a clogged network is actually
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quite expensive
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so transaction costs like we mentioned
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above gas fees
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can be extremely high sometimes users
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pay as much as
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dollars or more to complete their
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transactions and this
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kind of defeats the purpose of having a
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fast decentralized network
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built with low fees now we've seen the
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network
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clogged several times starting with the
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crypto kitties collecting game in 2017.
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then over the summer the decentralized
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finance craze saw increased numbers for
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gas fees as well
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and most recently with all the crypto
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hype we've seen it again
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this has caused some concern and an
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opportunity for up-and-coming
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competitors such as cardano
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to see a sliver of hope they can
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overtake ethereum as the top smart
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contract platform
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go to to solve these crazy high gas fees
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network triangulation and other concerns
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ethereum developers have now launched
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eth 2.0
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this takes ethereum from a proof of work
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project to a proof of stake project
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previously to ease 2.0 ethereum operated
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just like bitcoin with mining and minor
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fees just in transactions
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with proof of stake the ethereum network
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drops mining and opts for a faster
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and more environmentally friendly method
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of confirming transactions
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while e 2.0 has launched its initial
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phase the entire network upgrade won't
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be completed for years
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now it's a bit of a gamble for ethereum
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if it works and completely solves
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all of its problems this will be hailed
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as probably the
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biggest crypto achievement says the
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creation of bitcoin itself
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if it fails cardano and polkadot will be
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chomping at the bit to replace it
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but if you are unaware crypto is
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cyclical so the current crypto bull run
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will end most likely towards the end of
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this year it's just facts
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by the end of this year the e-2.0
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upgrade will not be complete
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meaning that any flaws or shortcomings
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of the upgrade
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won't be apparent until after the
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current bull run
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the price may be affected down the road
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but it certainly won't be affected in
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the short term
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in any large or significant way this
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means
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that the ethereum price will certainly
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continue to swell and overshadow
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all other cryptocurrencies for this year
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i see virtually no way
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that that will not happen most of crypto
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runs atop ethereum
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so when your favorite coins like chain
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link crush it since
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link is built on top of ethereum eth
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still gets the credit
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and this can be said about countless
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other coins but here's where the
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greatest opportunity lies
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bitcoin has already passed its all-time
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highs by a significant amount
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ethereum has not even reached its
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previous all-time highs yet
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and when it does it will most likely
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have a similar run-up is what we have
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seen bitcoin do
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if we were to look back at the last bull
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run in 2017
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you would see that the price of one each
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got to as high as 15
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of the price of one bitcoin with almost
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all of crypto built on top of ethereum
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at this point
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could definitely return there just
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imagine the cost of one each at 15
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percent of bitcoin's value if it reaches
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a hundred thousand two hundred and fifty
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thousand or heck even five hundred
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thousand dollars
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fifteen percent of 500k is 75 000
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right now the cost of one each is about
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one thousand dollars
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when you start to do that math it gets
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very exciting
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right now there are institutions doing
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that exact same math there are two hedge
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fund managers out there
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staring each other deep in the eyes as
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they realize that ethereum could be the
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best opportunity in crypto
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aside from buying bitcoin at under ten
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dollars in 2011.
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now on this channel we focus mostly on
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this specific bull run
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because this is where you guys are going
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to make life-changing money on the short
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term
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but if the price of ethereum does
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stumble back to the triple digits
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after the current bull run it could
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become an even bigger opportunity that
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could not just give life-changing wealth
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but the kind of wealth that sets up your
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kids kids kids
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generationally changing wealth and i do
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believe
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this is the opportunity that we have
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with ethereum which is why we discuss it
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so much on this channel let me know what
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you think about ethereum
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do you understand it a little better
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after this video or are you still seeing
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nothing but dollar signs when you think
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about it
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drop me some comments down below that's
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all i got be blessed
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good boy out
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[Music]
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so
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you
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