We always wonder some part in our life about the so called 1%. Well hear is my take on it. Most of us have kids, relatives, close friends, co-workers, and acquaintances. If you were to ask them "would they miss 1% of their annual salary"? ($100,000 = $1,000)
If the answer is no. You may proceed to introduce them into crypto currency. Don't start off by saying bitcoin. Bite your tongue! They already heard most likely the doom and gloom about bitcoin. Just explain their is other crypto currencies and tokens that are being created and are not worth as much as bitcoin today. But... bitcoin was around .10cents 8 years ago or so and today almost $1000.
Back to the 1%. It's not easy, I get it. Some of us have invested more than 1%. Some of us are frightened to ask strangers let alone family and freinds. Please remind them you are NOT asking them to sell their house, car, or valuables. It's simply a fraction of their income to learn and educate them with this new technology. Just to start the can actually do .03% first!!! Why a third of 1%??? Allow me to explain...
Since bitcoin is the mother of all crypto currencies. At the time of this post bitcoin is around $1000. Buying a third of it sets you at $333 for .333btc and most likely they will not hold you accountable if this tiny investment goes south, which it won't. It becomes a problem if they break over the 1% for greed.
I suggest Thirds Rule. Breaking your investment total into thirds. So now $111, $111, $111 = .111, .111, .111
This allows you to diversifies your investment by 3 or more if necessary. For starters I put away 1st\3rd of it safely in Cold Storage\Vault\Paper Wallet. 2nd\3rd I keep it in a reputable exchange to sell and rebuy back at a lower price. 3rd\3rd I invest in mining\cloud mining, other crypto currencies\tokens.
Sounds like a lot of work at first. You don't necessarily need to use an exchange or do any mining. You can just buy other crypto currencies with your bitcoin and learn and educate yourself and others. Most of us know how to spend our crypto currencies or give small amounts of it away to friends and family. I learned how to trade using Thirds Rule. Please follow me or look at my last months post if interested. You Win if the price goes up or you Win if the price goes down. Does not matter. Thirds Rule!!!
I have become the 1%, now what about you?
Thank you for your time. It's been a learning and fun experience here on steemit. I want to also Thank all of my followers, your up votes, and your comments from this highly informative and exciting platform.
FranksIn©