Ethereum: Your Best Chance To Be A Millionaire in 2021

so you want to become a millionaire in crypto well you aren't alone that's pretty much everyone's wish who watches any crypto videos here on youtube with bitcoin if the price goes to an astounding 300 thousand dollars per coin you're gonna have to own 3.1 btc at the current prices which is equivalent to about 115 000 many would argue that if you've got an extra 115k laying around you don't even need life-changing money to begin with you're already doing pretty well but what if i told you that you could become a millionaire with way less than half that amount in crypto that's the opportunity that ethereum presents today we're going to examine why ethereum presents such an incredible opportunity for people looking to change their lives financially let's get it bid swap is the hottest new way to trade tokens probably all the top decentralized exchanges bitswap gives you the very best price and value for your trades bitswap is changing the game try it now at bitswapdex.io welcome to bitboy crypto my name is ben every day on this channel i show you how to make money in cryptocurrency if you like money in crypto then please make sure to hit that subscribe button if you want to stay up to date with everything crypto make sure to follow us on all of our social media accounts links are down below now in this video class is in session we're going to be discussing what aetherium is what separates it from other cryptocurrencies and why i believe ethereum is the best opportunity in crypto for you to change your life make sure to watch until the very end when i give you the craziest price targets you've ever seen for eth now let's start out with what ethereum is ethereum essentially is a smart contract platform i know i know i've probably lost some of you guys already with the words smart contract well a smart contract is actually very easy to understand i'm not going to get into any nerdy or technical verbage intended to make you feel like this is over your head a smart contract simply is an agreement between two parties that is contractually filled automatically based upon conditions some say the easiest way to understand this is look no further than a vending machine it's a hot day and you're at a theme park you want something to drink so you head on over to the drink machine instead of going to the jam-packed restaurant you're presented with a lot of different options but you opt for the lime green gatorade because it's the best flavor obviously now back in the day you used to actually have to insert a dollar bill or two but these days you just swipe your credit card that swipe authorizes your card for payment then you choose your gatorade for two dollars the moment you put in b7 your card is charged with the equivalent amount then the machine's arm goes and grabs the gatorade and drops it so you can grab it from the slot there was never a human on the other side of that transaction everything was done automatically and sequentially based upon the conditions if every step of that process was not followed correctly the contract would have not been fulfilled and you wouldn't have even got your gatorade and even if your card was authorized if you never made a selection your card also wouldn't have ever been charged this is very similar to the way that smart contracts work the ethereum network is a platform upon which these kinds of conditional contracts can be programmed and there is an endless use case of things that can be programmed to run in this automated fashion in fact some people believe that this ethereum network can actually serve as a new layer of trust on the internet some people believe this will become known as the internet of value this is a brand new magical internet utopia where we can't be censored by our overlords on facebook twitter and view so yeah i have to be careful to say it backwards so i don't anger my personal monetization masters but over time we've seen what censorship has done with smart contracts this is all done automated and there are predefined rules and conditions instead of one day you can say one word and the next day you can't there are so many use cases for these types of contracts that it's unbelievable finance lending insurance predictions data privacy application building heck even farming like real farming but of course also yield farming get your john deere the list of uses are too numerous to list bitcoin is digital gold it was meant to be electronic cash the currency of the internet if you will but in reality now bitcoin doesn't do much it just makes people money and holds value ethereum on the other hand as you can see is an actual network with use has tons of use cases and application far beyond simply holding it for money like bitcoin the coin of the ethereum network eth will always be used to run the network to make transactions on ethereum you must hold a small amount of eth in order to pay what are called gas fees this is a small fee sent to miners that helps push transactions forward in our vending machine example it kind of be like the small transaction fee the vending machine company itself has to pay visa to execute the transaction the company has to agree to give a small percentage back to visa it makes the transaction work so even if big companies start buying ethereum as a store of value the same way they are buying bitcoin for their treasuries they can't change the purpose of each the network needs it to run right now the price of one each is about one thousand and fifty dollars of course last week it was well over thirteen hundred and by next week it's likely it might have bounced all the way back above its all-time highs of fourteen hundred dollars but the overall market cap right now of ethereum is a hundred and twenty one billion dollars and that's a lot a little over twenty percent of bitcoin's market cap but here's a hidden number that most people miss the true market cap of the ethereum network is about twice the market cap that's shown along with launching smart contracts the ethereum network also launches tokens these tokens known as erc20 tokens make up a huge amount of the tokens in the crypto space in fact the majority of all tokens available anywhere are erc20s built on ethereum and there are a few other types of these tokens such as erc 1155s and erc-721s but they're also built on ethereum we take the value of the entire ethereum network it's almost half of bitcoin's network as much press as ethereum gets it's still a sleeping giant people don't understand how tied together the ethereum coin is to the success of the cryptocurrency market in general but ethereum has not been without its problems the main problem with the network has been that often it gets clogged to send a transaction through a clogged network is actually quite expensive so transaction costs like we mentioned above gas fees can be extremely high sometimes users pay as much as dollars or more to complete their transactions and this kind of defeats the purpose of having a fast decentralized network built with low fees now we've seen the network clogged several times starting with the crypto kitties collecting game in 2017.

Then over the summer the decentralized finance craze saw increased numbers for gas fees as well and most recently with all the crypto hype we've seen it again this has caused some concern and an opportunity for up-and-coming competitors such as cardano to see a sliver of hope they can overtake ethereum as the top smart contract platform go to to solve these crazy high gas fees network triangulation and other concerns ethereum developers have now launched eth 2.0 this takes ethereum from a proof of work project to a proof of stake project previously to ease 2.0 ethereum operated just like bitcoin with mining and minor fees just in transactions with proof of stake the ethereum network drops mining and opts for a faster and more environmentally friendly method of confirming transactions while e 2.0 has launched its initial phase the entire network upgrade won't be completed for years now it's a bit of a gamble for ethereum if it works and completely solves all of its problems this will be hailed as probably the biggest crypto achievement says the creation of bitcoin itself if it fails cardano and polkadot will be chomping at the bit to replace it but if you are unaware crypto is cyclical so the current crypto bull run will end most likely towards the end of this year it's just facts by the end of this year the e-2.0 upgrade will not be complete meaning that any flaws or shortcomings of the upgrade won't be apparent until after the current bull run the price may be affected down the road but it certainly won't be affected in the short term in any large or significant way this means that the ethereum price will certainly continue to swell and overshadow all other cryptocurrencies for this year i see virtually no way that that will not happen most of crypto runs atop ethereum so when your favorite coins like chain link crush it since link is built on top of ethereum eth still gets the credit and this can be said about countless other coins but here's where the greatest opportunity lies bitcoin has already passed its all-time highs by a significant amount ethereum has not even reached its previous all-time highs yet and when it does it will most likely have a similar run-up is what we have seen bitcoin do if we were to look back at the last bull run in 2017 you would see that the price of one each got to as high as 15 of the price of one bitcoin with almost all of crypto built on top of ethereum at this point could definitely return there just imagine the cost of one each at 15 percent of bitcoin's value if it reaches a hundred thousand two hundred and fifty thousand or heck even five hundred thousand dollars fifteen percent of 500k is 75 000 right now the cost of one each is about one thousand dollars when you start to do that math it gets very exciting right now there are institutions doing that exact same math there are two hedge fund managers out there staring each other deep in the eyes as they realize that ethereum could be the best opportunity in crypto aside from buying bitcoin at under ten dollars in 2011.

Now on this channel we focus mostly on this specific bull run because this is where you guys are going to make life-changing money on the short term but if the price of ethereum does stumble back to the triple digits after the current bull run it could become an even bigger opportunity that could not just give life-changing wealth but the kind of wealth that sets up your kids kids kids generationally changing wealth and i do believe this is the opportunity that we have with ethereum which is why we discuss it so much on this channel let me know what you think about ethereum do you understand it a little better after this video or are you still seeing nothing but dollar signs when you think about it drop me some comments down below that's all i got be blessed good boy out [Music] so you

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