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As challenging as possible, best, like Coinbase. It 'd take me forever before I might start purchasing in size on Coinbase (how to trade crypto). They're like, well, we'll let you buy $500 a week, Teeka. I mean, it's if you remember the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I imply it would take 20 minutes to pack a page.

Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I imply, we remain in the early days of that innovation, however similar to during that time period, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.

Mm-hmm (affirmative). And let's take a step back for a second, since I'm always curious to speak with people who are, specifically someone like yourself, who's committed the last, you know, the bulk of the last few years to actually go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's an excellent question.

They're 2 totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a limited quantity. There'll never be more than 21 million Bitcoin.

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

And so when individuals put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We do not trust fiat money, you can print a limitless amount of it. It's really not secure, and the government can take it away from you." - Whereas with Bitcoin, right , go ahead.

Yeah. Or people that were in Cypress, or just people who have suffered through either run-away inflation, 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 catalyst for more adoption, due to the fact that they currently do not believe in their own currency? Yeah, and I think we've currently seen that.

So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. They resemble, "Well I do not need 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 do not have stable currencies.

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Yeah (how to trade crypto on robinhood). Therefore there's this entire growing global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And energy coins are generally utilized, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially an international computer that you can write computer system programs for and run computer system programs on a globally decentralized computer system program.

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So we consider something like Ether an utility token, due to the fact that you're essentially buying programs power. So I would not actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give people a concept, 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 type of this very same kind of network effect that you have with Bitcoin, where it's like unstoppable example, since it's on a lot of various areas and (how to trade crypto). I don't understand the ins and outs of it, but as an example for someone who might just be extremely fundamental in their understanding of this, there are a lot of various kinds of energies that are available.

And you type of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, but I think the real chance depends on the utility 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 individuals are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And individuals require to understand that not all energy coins are created equivalent.

So you have the benefit of dedicating your occupation to this, so you can head out there and do the reconnaissance, you can fulfill the founders, you can check the code, etc. But for a typical individual, there's now what, over 1,000 different kinds of coins offered, almost 1,200 I think.

How do they do that? That's a terrific question. I will say that 95% of ICOs are either deceitful or just bad concepts. Okay. Right? There's nothing even worse than somebody that's young, earnest, with a terrible concept, that somebody gives $40 million to. Right? Yeah, absolutely. So yeah, so I do not really take part in lots of ICOs, and I advise you most likely side action that market, unless you have actually got a special relationship, and you can get in on the pre-ICO, and then blow it out when it trades.

'Cause normally it'll crash 80% or so. Which's when we truly start taking a look at the concept in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they resolving an issue that requires to be resolved? Among the big downsides with extremely smart, technical people, is that they like to fix issues that nobody appreciates fixing.

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Does the team have experience of carrying out in an effective way in another area of their life? And it doesn't even have to be straight associated to cryptocurrency, it doesn't have to be even straight related to software application, right? So, but I wish to see a track record of success in something, right? If it's four men in a space that are just out of college, unless they've got some actually great advisors behind them, I'm most likely not going to provide them any cash.

Yeah. I think that in marketing in general, my world of company, we continuously look for problems and how we can resolve them. Now, are the problems things that people are attempting to fix a part of the Blockchain typically? Or would you state it's much better if they're fixing 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 generally looking for solutions that, so I'll provide you an example.

And the factor that we bought it is since they found a way to make files tamper-proof, and it's 99% more affordable than present technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a track record of creating computer programs that entire states run their whole operations on, right? So you have actually got fine, the wise guy has constructed huge computer programs, terrific team, resolving an enormous issue that is going to cut big costs.

I indicate, it does not get any simpler than that in regards to deciding who to put money 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 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 stated." Mm-hmm (affirmative).

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And then if the individual that you're talking with can't dumb it down enough where you understand it, then it's most likely not an excellent concept. how to day trade crypto. Right, right. Ryan: So you have actually taken a look at companies that are big companies, you have actually evaluated much bigger marketcap type situations - how to day trade crypto. Do you feel that that experience has helped you? Or are we in such, kind of the infancy, that as you pointed out, it is practically just typical sense. You just need to sort of take a look at it and think logically about what's going on, and pull the emotion out? You need to pull the feeling out, and there are no traditional metrics that you can take a look at.