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

They're two completely various things, but 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 gives it worth is that it is, there's only going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.

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There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. However since of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.

And so when individuals put, you've 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 don't trust paper currency, you can print an unlimited quantity of it. It's really not secure, and the federal government can take it away from you." - Whereas with Bitcoin, right , go ahead.

Yeah. Or individuals that remained in Cypress, or simply individuals who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, since they currently 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 tough 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 steady currency, right? You do not need Bitcoin. But there are billions of individuals in the world that don't have stable currencies.

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Yeah (how to swing trade crypto). And so there's this entire blossoming international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are essentially used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international computer that you can write computer programs for and run computer system programs on an internationally decentralized computer program.

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So we think about something like Ether an energy token, since you're basically buying programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer people a concept, like a really simple one that I would imagine you 'd called an utility token, resembles FileCoin.

Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this exact same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous different areas and (how to day trade crypto). I do not know the ins and outs of it, but as an example for someone who may just be very standard in their understanding of this, there are many various kinds of utilities that are readily available.

And you kind of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely utility based, fix? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the utility coin space.

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There's all of these ICOs that were taking place, those decreased a little bit with some changes to a few things that was going on, but people are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And people require to comprehend that not all utility coins are produced equal.

So you have the advantage of devoting your occupation to this, so you can go out there and do the recon, you can fulfill the founders, you can check the code, etc. But for an average person, there's now what, over 1,000 various types of coins offered, practically 1,200 I believe.

How do they do that? That's an excellent concern. I will say that 95% of ICOs are either fraudulent or simply bad ideas. Okay. Right? There's absolutely nothing worse than someone that's young, earnest, with a horrible idea, that someone offers $40 million to. Right? Yeah, absolutely. So yeah, so I don't truly participate in numerous ICOs, and I recommend you probably side action that market, unless you have actually 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% approximately. Which's when we really begin looking at the idea in more information. So here are some fast and unclean things that you should look at, right? So, one is, are they resolving a problem that needs to be fixed? One of the huge downsides with extremely wise, technical people, is that they like to solve problems that no one appreciates resolving.

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Does the team have experience of performing in an effective manner in another location of their life? And it does not even need to be straight related to cryptocurrency, it does not have to be even straight associated to software, right? So, however I desire to see a performance history of success in something, right? If it's 4 guys in a space that are just out of college, unless they have actually got some really excellent advisors behind them, I'm probably not going to provide any cash.

Yeah. I believe that in marketing in general, my world of business, we continuously try to find issues and how we can resolve them. Now, are the issues things that people are attempting to resolve 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 generally searching for services that, so I'll give you an example.

And the reason that we purchased it is since they found a way to make documents tamper-proof, and it's 99% more affordable than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a performance history of creating computer programs that whole states run their entire operations on, right? So you have actually got alright, the smart guy has constructed big computer system programs, fantastic group, resolving a huge issue that is going to cut big costs.

I mean, it doesn't get any simpler than that in terms of choosing who to put cash behind. And a lot 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 rule, Ryan. If I do not comprehend something, I installed my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).

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Okay. What I can utilize that I gained from dealing with Wall Street across 3 decades, is how to check out people. I have actually met 10s of thousands of individuals throughout my profession. I have actually satisfied insiders; I have actually fulfilled fund supervisors, I have actually met stock promoters, I've fulfilled all these various types of characters along the method.

So I think that's probably among my super powers, if you will. And if you've got an excellent BS detector, you must listen to it. how to trade crypto on robinhood. Okay. You must definitely listen to it. If I'm sitting down and I'm talking with somebody, and they've got all the bonifides, but you understand, there's simply; it's not sitting well with me, there's something about them that's not sitting well with me.

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There are a lot of other deals out there to take a look at. Yeah, there's excessive opportunity. Yeah. And speaking of opportunity, you understand, you sort of mentioned at the beginning, Bitcoin and Ethereum, many people have actually heard of these two, especially Bitcoin, due to the fact that it looks like it remains in the news all the time, something or the other.

Have they failed on Bitcoin? Bitcoin is trading nearly upwards of $6,000 recently; it's come up from say $3,000 not too long back, it's rather unstable. Do they sort of wait for a pullback, or do they just state, "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 fantastic question.

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

And after that on the first 50% pullback that you see in Bitcoin, purchase the second half. And that method you're not going to get the ideal price, however you're going to get an excellent price. And then simply leave it alone. And to your question, is it far too late to purchase Bitcoin? Definitely not.

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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. A bit simpler in cryptocurrency than getting Apple stock. Right! And you talked about this volatility.

Meaning that Bitcoin has to do with 10 times more volatile. And they think that as it ends up being less and less volatile, it's going to be easier to really count on as a currency. Correct. Now, we're in an age where news, whether you call it FUD, worry, uncertainty, doubt, truly drives the prices of these cryptocurrencies up and down it looks like. how to margin trade crypto.