Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to speak to individuals who are, especially somebody like yourself, who's devoted the last, you know, the bulk of the last few years to truly go both feet in on this. How do you describe cryptocurrency to like a typical person? That's an excellent question.

They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers 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, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously try to hack it. However because of the nature of the network, today it's been unhackable. And truly, with present technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over.

Therefore when individuals put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not trust paper currency, you can print an endless quantity of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, best , proceed.

Yeah. Or individuals that were in Cypress, or simply individuals who have actually suffered through either devaluation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, since they currently don't think in their own currency? Yeah, and I think we've currently seen that.

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

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Yeah (how to margin trade crypto). And so there's this whole burgeoning international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are basically utilized, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a global computer system that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer program.

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So we consider something like Ether an energy token, because you're basically purchasing programming power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer people an idea, like a really basic one that I would imagine you 'd called an energy token, resembles FileCoin.

Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this very same kind of network impact that you have with Bitcoin, where it resembles unstoppable example, because it's on a lot of various areas and (how to trade crypto). I do not know the ins and outs of it, however as an example for somebody who might just be very basic in their understanding of this, there are so lots of different types of energies that are available.

And you sort of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Most of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I believe the real opportunity depends on the utility coin area.

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There's all of these ICOs that were taking place, those decreased a bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And individuals require to understand that not all utility coins are developed equal.

So you have the benefit of committing your profession to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can examine the code, and so on. But for a typical individual, there's now what, over 1,000 various kinds of coins readily available, almost 1,200 I think.

How do they do that? That's a terrific question. I will state that 95% of ICOs are either deceptive or simply bad ideas. Okay. Right? There's nothing worse than somebody that's young, earnest, with a dreadful concept, that somebody offers $40 million to. Right? Yeah, totally. So yeah, so I don't truly participate in lots of ICOs, and I recommend you probably side step that market, unless you've got a special relationship, and you can participate the pre-ICO, and then blow it out when it trades.

'Cause normally it'll crash 80% or two. And that's when we truly begin looking at the concept in more detail. So here are some fast and dirty things that you should take a look at, right? So, one is, are they solving a problem that requires to be solved? Among the big disadvantages with really clever, technical people, is that they like to fix issues that no one cares about fixing.

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Does the group have experience of carrying out in a successful way in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't have to be even straight related to software, right? So, but I wish to see a performance history of success in something, right? If it's four people in a space that are simply out of college, unless they have actually got some truly excellent advisors behind them, I'm probably not going to give them any cash.

Yeah. I think that in marketing in basic, my world of company, we constantly search for problems and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain typically? Or would you state it's better if they're fixing type 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 generally searching for options that, so I'll provide you an example.

And the reason that we purchased it is because they found a way to make files tamper-proof, and it's 99% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a track record of producing computer programs that whole states run their entire operations on, right? So you have actually got alright, the wise guy has built substantial computer programs, fantastic group, solving a massive issue that is going to cut huge expenses.

I mean, it doesn't get any simpler than that in terms of deciding who to put money behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a really easy rule, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).

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Okay. What I can utilize that I gained from working on Wall Street throughout 3 decades, is how to read individuals. I have actually fulfilled 10s of countless people throughout my career. I have actually fulfilled experts; I've met fund supervisors, I've satisfied stock promoters, I have actually met all these various types of characters along the way.

So I think that's probably one of my very powers, if you will. And if you've got a great BS detector, you need to listen to it. how to margin trade crypto. Okay. You need to definitely listen to it. If I'm taking a seat and I'm talking with someone, and they've got all the bonifides, however you know, there's just; it's not sitting well with me, there's something about them that's not agreeing with me.

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There are numerous other offers out there to look at. Yeah, there's excessive opportunity. Yeah. And speaking of chance, you understand, you kind of pointed out at the start, Bitcoin and Ethereum, the majority of people have become aware of these two, particularly Bitcoin, due to the fact that it appears like it remains in the news all the time, something or the other.

Have they missed the boat on Bitcoin? Bitcoin is trading practically upwards of $6,000 recently; it's shown up from say $3,000 not too long ago, it's rather volatile. Do they sort of wait on a pullback, or do they simply state, "Okay, I'm going to buy some Ethereum, I'm going to buy some Bitcoin, see you in 10 years." You understand? Yeah that's an excellent concern.

You can actually utilize tiny stakes, and transform them into life-altering quantities of cash. So I think the initial step is, get clear on, if I lost all this cash tomorrow, if I put it in Bitcoin, I desire to make sure that it's not going to have me asking my moms and dads for hamburger money, and sleeping on their sofa.

And after that on the first 50% pullback that you see in Bitcoin, buy the 2nd half. And that way you're not going to get the best price, but you're going to get a great price. 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 just 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 suggest, I'll take that all day long. A bit easier in cryptocurrency than picking up Apple stock. Right! And you spoke about this volatility.

Implying that Bitcoin is about ten times more volatile. And they think that as it becomes less and less unpredictable, it's going to be simpler to in fact rely on as a currency. Correct. Now, we're in an age where news, whether you call it FUD, worry, unpredictability, doubt, actually drives the rates of these cryptocurrencies up and down it appears like. how to swing trade crypto.