Mm-hmm (affirmative). And let's take a step back for a 2nd, due to the fact that I'm always curious to speak to individuals who are, specifically somebody like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to really go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a fantastic concern.

They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's only going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.

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There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly try to hack it. However because of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.

And so when individuals put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust paper cash, you can print an unrestricted amount of it. It's actually not protect, and the federal government can take it far from you." - Whereas with Bitcoin, right , proceed.

Yeah. Or people that remained in Cypress, or just individuals who have suffered through either run-away inflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, since they currently do not believe in their own currency? Yeah, and I believe we've already seen that.

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

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

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So we think about something like Ether an utility token, because you're essentially buying programs power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide individuals an idea, like an extremely simple one that I would imagine you 'd called an utility token, resembles FileCoin.

Where the concept is that generally you're hosting files through a peer-based network, and there's type of this same type of network effect that you have with Bitcoin, where it resembles unstoppable example, because it's on so many various locations and (how to trade crypto). I do not know the ins and outs of it, however as an example for somebody who may simply be really basic in their understanding of this, there are numerous various types of utilities that are available.

And you sort of discussed having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, however I think the real opportunity lies in the energy coin area.

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There's all of these ICOs that were taking place, those decreased a bit with some changes 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 comprehend that not all utility coins are developed equal.

So you have the advantage of committing your profession to this, so you can go out there and do the reconnaissance, you can meet the founders, you can check the code, etc. However for a typical person, there's now what, over 1,000 different types of coins offered, almost 1,200 I think.

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

'Cause typically it'll crash 80% or so. Which's when we truly start looking at the idea in more detail. So here are some quick and unclean things that you should take a look at, right? So, one is, are they resolving an issue that needs to be solved? Among the big drawbacks with really smart, technical individuals, is that they like to solve problems that no one appreciates resolving.

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Does the group have experience of carrying out in an effective 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 want to see a performance history of success in something, right? If it's four guys in a space that are simply out of college, unless they have actually got some actually great advisors behind them, I'm probably not going to provide any cash.

Yeah. I think that in marketing in basic, my world of business, we constantly search for problems and how we can resolve them. Now, are the issues things that individuals are trying to solve a part of the Blockchain normally? Or would you say it's better if they're resolving type of a mass issue? 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 offer you an example.

And the factor that we purchased 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 after that on top of that, the person that started it has a performance history of developing computer system programs that entire states run their whole operations on, right? So you've got alright, the wise person has constructed big computer programs, fantastic group, fixing an enormous problem that is going to cut substantial expenses.

I imply, it does not get any simpler than that in regards to deciding who to put cash behind. And a great deal of this is common sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a truly easy guideline, Ryan. If I don't understand something, I put 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 utilize that I found out from dealing with Wall Street across 3 years, is how to read individuals. I've met tens of thousands of people throughout my profession. I've satisfied experts; I have actually met fund managers, I have actually met stock promoters, I've fulfilled all these various kinds of characters along the method.

So I believe that's probably among my super powers, if you will. And if you have actually got a great BS detector, you need to listen to it. how to swing trade crypto. Okay. You must absolutely listen to it. If I'm sitting down and I'm talking with someone, and they have actually got all the bonifides, however you understand, 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 many other offers out there to look at. Yeah, there's too much chance. Yeah. And speaking of opportunity, you know, you kind of discussed at the beginning, Bitcoin and Ethereum, the majority of individuals have heard of these two, 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 come up from state $3,000 not too long ago, it's rather unpredictable. Do they kind of wait on a pullback, or do they simply say, "Okay, I'm going to purchase some Ethereum, I'm going to buy some Bitcoin, see you in 10 years." You understand? Yeah that's a great concern.

You can actually use tiny stakes, and transform them into life-changing amounts of cash. So I believe the primary step is, get clear on, if I lost all this cash tomorrow, if I put it in Bitcoin, I wish to ensure that it's not going to have me begging my moms and dads for hamburger money, and sleeping on their couch.

And after that on the very first 50% pullback that you see in Bitcoin, purchase the 2nd half. And that method you're not going to get the best price, however you're going to get a good rate. And then just leave it alone. And to your question, is it too late to buy Bitcoin? Definitely not.

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Right now 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 suggest, I'll take that all day. A bit easier in cryptocurrency than selecting up Apple stock. Right! And you talked about this volatility.

Suggesting that Bitcoin has to do with ten times more unpredictable. And they think that as it ends up being less and less volatile, it's going to be simpler to actually count on as a currency. Correct. Now, we remain in an age where news, whether you call it FUD, fear, uncertainty, doubt, really drives the costs of these cryptocurrencies up and down it looks like. how to day trade crypto.