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Blockchain for Dummies Special Part I

So why do we keep hearing that everyone is becoming rich with bitcoins? Bitcoin is one of the 1200 cryptocurrencies that are around right now

Next to bitcoin you have a lot of different cryptocurrencies with different causes But bitcoin you can see as the digital dollar You can already pay with bitcoin in a lot of Dutch stores, like Thuisbezorgdnl But also, in London a house has been sold for 17 million pounds in bitcoins Bitcoin is part of the blockchain

Blockhain the name for the system where all transactions are registered on Because everything is now registered on everyone's computer instead of just one, You won't be needing any central authorities anymore, like banks So why do we keep hearing that everyone is becoming rich with bitcoins? Well, if you bought bitcoins a few years ago There is a good chance you made a lot of money on it Someone who also did that is Livaneli

Livaneli started with only 100 euros in bitcoins and is now a cryptomillionaire But you'll see him next video Wait! Millionaires? Let's see whether we can talk to some of them at Duisenberg Plaza Hi Wouter – Hi Talitha Hi Matthijs! – Hi! Hi Ibi – Hey! With what cryptocurrency do you trade? Right now I am mainly trading in Verge, Monero and Exclusivecoin I trade in multiple, but the main ones are Ethereum and TenX for example

But like I said, I trade in multiple You have to bet on multiple horses I guess And with what amount did you start investing? I started investing with a few hundred euros, just some spare money I had I think I started with about 200 euros, which was back in march And are now worth about 5

000 euros I guess So is this a means of payment to you or really an investment object? For now this is mainly an investment object I tend to hold on to my coins for now Maybe later I'll spend some of it It was an investment object for me

I wanted to invest in something There was a big hype in cryptocurrencies, so I said why not invest in that? In the beginning it was kind of scary Because you think you know stuff, but you don't So you make bad choices But I think now I can anticipate it and make money with it

Fluctuation is part of the cryptocurrencies If it wasn't fluctuating so much I wouldn't be making any profit In the beginning it was driving me nuts and crazy I was checking the graphs all the time, refresh it I had exams at that time and I couldn't concentrate on it

It's less now, I got used to it I just check it once a day That's all I don't often check them I am more addicted to the news

Checking everyday and all kinds of stuff surrounding cryptos For now I'll hold on to my coins Maybe in the longterm I take some off because I'll need money For now I want to keep investing and expand my portfolio I'll just keep it in my wallet

It might explode one day Make me a millionaire Okay, tell me if that happens!