Lol, most of these people became billionaires by inheriting already a capital to start with.
I would like to see how you get billionaire with from your 9-5 job having a starting asset of say 5000$. It would take an eternity to build that up to a billion.
These folks already started with 1-10 million $, which is still hard to build to a billion, but obviously easier than from a 5000$ bucks.
While I am no billionaire, I started in the crypto space with a large debt, huge child support payments, and a 9-5 job. 3 years later my "paper worth" is over $30M, but like all the billionaires above, converting that wealth to cash isn't a trivial task. If Steem takes off then I would probably end up on that list.
Very impressive. It's just wonderful how the free market can compensate for natural disadvantage. I have also started out with literally nothing and made good money in the crypto business. Far from being millionaire, hopefully one day I will make it. Good luck to both of us.
But that's also true for everyone on that list. If they wanted a billion in cash, it wouldn't be a trivial task either. On the other hand, why would you need that much cash to begin with? Even if you wanted a private jet or yacht, you'd be able to finance them and make payments. There's nothing in the world that would require a billion in cash up front.
Dear @dantheman i try thrice to remove the steeimt but failed as this is in default again appeared i have deleted the steemit tag now please remove the flag thanks.
yeah, you won't be able to because it is a category, not a tag. I removed the upvote, thanks for trying.
Thanks so much you are great i will do my best to not repeat suck type of rule violation as this was my mistake.
That is true for big bitcoin HODLers as well...
OK, here's how you could've reach a billion starting from 2010 to now: Bitcoin started trading in 2010 on Mt. Gox for 6 cents. $5K/.06 = ~83K BTC. Today that's worth $50 million. In 2014, BTC was also around ~$600 at the time of the Ethereum ICO. The ICO price was 2000 ETH/BTC. Let's say you invested 10K BTC of that for 20 million ETH. Today ETH+ETC = ~$14. 20 mil x 14 = $280 million worth of ETH. You'd also still have 73K BTC worth $43 mil. That puts your total net worth at ~$320 million in 6 years. From $320 mil, getting to $1 billion is just a triple from here.
In other words, it's entirely possible to get to $1 billion in 10 years from $5K with 2 or 3 lucky moves.
Yea but every time the profit decreases, the innecifiencies in the market are logarithmically decreasing. Every new crypto will make less and less, unless it introduces radically new features.
I recently discovered STEEM, let's just say that there is still hope to become billionaire for us who read this :)
True, but the point is you don't need to start with millions to make billions. You could've started with $5K to make millions, then use those millions to get billions.