Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk to people who are, specifically someone like yourself, who's devoted the last, you know, the lion's share of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like an average individual? That's an excellent question.

They're two totally different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's only going to be a minimal quantity. There'll never be more than 21 million Bitcoin.

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There are billions of dollars worth of computers, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.

Therefore when individuals put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We do not rely on paper currency, you can print a limitless quantity of it. It's actually not protect, and the federal government can take it far from you." - Whereas with Bitcoin, right , go ahead.

Yeah. Or people that remained in Cypress, or just individuals who have suffered through either devaluation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, since they already do not believe in their own currency? Yeah, and I think we have actually currently seen that.

So yes, and this is a thing that a great deal of American or Western financiers have a difficult time getting their head around. They're like, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of people in the world that do not have stable currencies.

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Yeah (how to swing trade crypto). And so there's this entire blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are basically utilized, let's state Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer system programs on a worldwide decentralized computer system program.

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So we think about something like Ether an energy token, because you're basically buying shows power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer individuals a concept, like a very simple one that I would envision you 'd called an energy token, is like FileCoin.

Where the concept is that essentially you're hosting files through a peer-based network, and there's type of this very same kind of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on many different areas and (how to trade crypto). I do not understand the ins and outs of it, but as an example for somebody who might just be really fundamental in their understanding of this, there are numerous different kinds of utilities that are available.

And you sort of mentioned having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity depends on the utility coin space.

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There's all of these ICOs that were happening, those decreased a bit with some modifications to a couple of things that was going on, however people are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to understand that not all utility coins are developed equivalent.

So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can meet the founders, you can examine the code, etc. However for an average individual, there's now what, over 1,000 different kinds of coins available, practically 1,200 I think.

How do they do that? That's a great concern. I will state that 95% of ICOs are either deceptive or simply bad ideas. Okay. Right? There's nothing even worse than someone that's young, earnest, with a dreadful idea, that someone gives $40 million to. Right? Yeah, absolutely. So yeah, so I don't actually take part in numerous ICOs, and I suggest you probably side action that market, unless you have actually got an unique relationship, and you can participate the pre-ICO, and after that blow it out when it trades.

'Cause usually it'll crash 80% approximately. And that's when we actually start taking a look at the concept in more detail. So here are some fast and filthy things that you should look at, right? So, one is, are they resolving a problem that requires to be resolved? Among the huge downsides with really clever, technical individuals, is that they like to resolve issues that no one cares about resolving.

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Does the team have experience of performing in a successful manner in another area of their life? And it does not even need to be directly associated to cryptocurrency, it does not need to be even straight associated to software, right? So, however I wish to see a track record of success in something, right? If it's 4 men in a room that are simply out of college, unless they've got some truly great consultants behind them, I'm probably not going to provide any money.

Yeah. I think that in marketing in general, my world of business, we continuously try to find issues and how we can resolve them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain typically? Or would you say it's much better if they're solving kind of a mass problem? Something like FileCoin, or something else that would be more mass appeal? Or is it a mix of both? Well I'm basically searching for services that, so I'll provide you an example.

And the factor that we bought it is because they found a method to make documents tamper-proof, and it's 99% cheaper than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a performance history of producing computer system programs that entire states run their entire operations on, right? So you've got all right, the wise guy has built substantial computer system programs, excellent group, resolving a massive problem that is going to cut substantial expenses.

I suggest, it doesn't get any simpler than that in regards to choosing who to put cash behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a truly easy guideline, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).

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Okay. What I can use that I gained from working on Wall Street across 3 decades, is how to read people. I've fulfilled tens of countless individuals throughout my profession. I've fulfilled experts; I've fulfilled fund managers, I have actually satisfied stock promoters, I've fulfilled all these various types of characters along the way.

So I believe that's most likely one of my super powers, if you will. And if you have actually got a good BS detector, you need to listen to it. how to trade crypto currency. Okay. You need to absolutely listen to it. If I'm sitting down and I'm talking with somebody, and they've got all the bonifides, however you know, there's simply; it's not agreeing with me, there's something about them that's not agreeing with me.

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There are so numerous other deals out there to look at. Yeah, there's too much chance. Yeah. And speaking of opportunity, you understand, you kind of pointed out at the start, Bitcoin and Ethereum, many people have become aware of these 2, especially Bitcoin, since it looks like it's in the news all the time, something or the other.

Have they missed the boat on Bitcoin? Bitcoin is trading almost upwards of $6,000 recently; it's shown up from state $3,000 not too long earlier, it's rather unpredictable. Do they type of wait on a pullback, or do they just say, "Okay, I'm going to buy some Ethereum, I'm going to purchase some Bitcoin, see you in ten years." You understand? Yeah that's an excellent concern.

You can actually utilize small stakes, and change them into life-changing amounts of cash. So I think the very first action is, get clear on, if I lost all this cash tomorrow, if I put it in Bitcoin, I desire to make certain that it's not going to have me begging my parents for hamburger money, and sleeping on their couch.

And after that on the very first 50% pullback that you see in Bitcoin, buy the 2nd half. Which way you're not going to get the ideal rate, however you're going to get a great rate. And then simply leave it alone. And to your concern, is it far too late to purchase Bitcoin? Never.

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Today it has about simply under a $100 billion market cap, so it's a 10x from here. So you put $1,000 in, you turn it into $10,000. I mean, I'll take that all day long. A little bit simpler in cryptocurrency than choosing up Apple stock. Correct! And you spoke about this volatility.

Meaning that Bitcoin is about 10 times more unstable. And they believe that as it ends up being less and less unstable, it's going to be easier to actually depend on as a currency. Correct. Now, we remain in an age where news, whether you call it FUD, fear, uncertainty, doubt, really drives the prices of these cryptocurrencies up and down it appears like. how to margin trade crypto.