Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to speak with individuals who are, specifically someone like yourself, who's dedicated the last, you know, the bulk of the last couple of years to really go both feet in on this. How do you explain cryptocurrency to like an average individual? That's a terrific concern.

They're two absolutely various 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 gives it worth is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.

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There are billions of dollars worth of computers, validating the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously try to hack it. But since of the nature of the network, today it's been unhackable. And really, with existing innovation, 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've got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper money, you can print a limitless amount of it. It's really not protect, and the government can take it away from you." - Whereas with Bitcoin, right , proceed.

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

So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals worldwide that do not have stable currencies.

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Yeah (how to trade crypto currency). And so there's this whole blossoming worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are generally used, let's say Ethereum, which a lot of people learn about Ethereum. Ethereum is basically an international computer system that you can compose computer programs for and run computer system programs on a globally decentralized computer program.

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So we think about something like Ether an utility token, since you're basically purchasing shows power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give people a concept, like a very basic one that I would envision you 'd called an energy token, resembles FileCoin.

Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this same kind of network impact that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on many various locations and (how to trade crypto). I don't know the ins and outs of it, however as an example for someone who may simply be extremely basic in their understanding of this, there are a lot of different types of energies that are offered.

And you type of mentioned having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the genuine opportunity lies in the energy coin area.

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There's all of these ICOs that were happening, those slowed down a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals require to comprehend that not all energy coins are produced equivalent.

So you have the benefit of committing your profession to this, so you can go out there and do the reconnaissance, you can satisfy the founders, you can inspect the code, etc. However for an average person, there's now what, over 1,000 various types of coins offered, almost 1,200 I believe.

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

'Cause typically it'll crash 80% or so. Which's when we actually start looking at the idea in more detail. So here are some quick and dirty things that you should take a look at, right? So, one is, are they resolving a problem that requires to be solved? Among the big downsides with extremely wise, technical individuals, is that they like to fix issues that nobody appreciates solving.

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Does the group have experience of carrying out in a successful way in another area of their life? And it does not even have to be straight related to cryptocurrency, it doesn't need to be even directly related to software application, right? So, but I wish to see a performance history of success in something, right? If it's 4 men in a room that are simply out of college, unless they have actually got some really excellent advisors behind them, I'm probably not going to provide any money.

Yeah. I believe that in marketing in basic, my world of company, we constantly try to find issues and how we can resolve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain generally? Or would you state it's better if they're solving sort 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 trying to find services that, so I'll give you an example.

And the factor that we bought it is due to the fact that they discovered a way to make documents tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a track record of creating computer system programs that whole states run their whole operations on, right? So you have actually got all right, the smart person has actually built big computer programs, great group, solving an enormous issue that is going to cut big costs.

I mean, it does not get any easier than that in regards to deciding who to put cash behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have a truly easy rule, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't comprehend what you just stated." Mm-hmm (affirmative).

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Okay. What I can utilize that I gained from working on Wall Street across 3 years, is how to check out people. I've fulfilled 10s of countless individuals throughout my profession. I have actually met insiders; I've met fund managers, I have actually met stock promoters, I've fulfilled all these different kinds of characters along the way.

So I believe that's probably among my very powers, if you will. And if you have actually got a great BS detector, you should listen to it. how to trade crypto on robinhood. Okay. You need to absolutely listen to it. If I'm taking a seat and I'm talking with somebody, and they have actually got all the bonifides, however you know, there's simply; it's not agreeing with me, there's something about them that's not sitting well with me.

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There are numerous other offers out there to take a look at. Yeah, there's too much opportunity. Yeah. And speaking of opportunity, you understand, you kind of mentioned at the start, Bitcoin and Ethereum, the majority of people have heard of these 2, especially Bitcoin, since it appears like it remains in the news all the time, something or the other.

Have they failed on Bitcoin? Bitcoin is trading practically upwards of $6,000 recently; it's shown up from say $3,000 not too long back, it's rather volatile. 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 a terrific question.

You can literally use small stakes, and transform them into life-changing quantities of money. So I believe the primary step is, get clear on, if I lost all this money tomorrow, if I put it in Bitcoin, I wish to make certain that it's not going to have me asking my parents for hamburger money, and sleeping on their couch.

And then on the first 50% pullback that you see in Bitcoin, buy the second half. Which method you're not going to get the perfect price, however you're going to get a great price. And after that simply leave it alone. And to your concern, is it 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 imply, I'll take that all day. A bit easier in cryptocurrency than choosing up Apple stock. Right! And you discussed this volatility.

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