I was looking at this Beecoin and thinking about investing in it. It is dirt cheap.
However as I was looking at the price and stuff, I saw someone had bought like 650million beecoins. I'm thinking, "If that coin rises to the value of one cent, he/she is millionaire!"
What am I missing here because I've been trying to ride the Bitcoin/Litecoin waves here recently and I've made a little, but I'm no millionaire. What say you?
What you are saying is correct, but you are missing something major. Most of the coins will FAIL, so you will never become a milionare with them. The thing is, there are a lot of coins, just check out all pages on
https://coinmarketcap.com/. Sure some coins on page 3 are worth pennies and could possibly (very very unlikely) explode in value and come to page 1 with a giant market cap. But these coins will most likely let you down, they will fail. Their volume will drop and they will die off.
The lower Market Cap coin you find, the lower the potential it is of it rising, BUT if it would rise, the multiplier is much higher.
There is no reason answering to OP because last time he was active it was 06 August 2014. Check his
. It's simply a necroposting process. If you check you will see that this coin has already died because, IIRC, is not in