Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to talk to people who are, particularly someone like yourself, who's committed the last, you know, the lion's share of the last few years to truly go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a great question.

They're two completely different 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. And so what offers it worth is that it is, there's just 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 computer systems, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.

Therefore when people 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 stating, "We do not trust paper money, you can print an endless amount of it. It's actually not secure, and the government can take it far from you." - Whereas with Bitcoin, right , proceed.

Yeah. Or people that were in Cypress, or just people who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, due to the fact that they currently do not think in their own currency? Yeah, and I think we have actually already 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 resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. But there are billions of people on the planet that don't have steady currencies.

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Yeah (how to margin trade crypto). And so there's this entire burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially used, let's state Ethereum, which a great deal of individuals know 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 system program.

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So we think about something like Ether an energy token, since you're essentially purchasing shows power. So I would not really think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer people an idea, like an extremely easy one that I would picture you 'd called an energy token, resembles FileCoin.

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

And you sort of pointed out having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, correct? 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 chance lies in the utility coin space.

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There's all of these ICOs that were happening, those decreased a bit with some changes to a couple of things that was going on, but individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And individuals need to understand that not all utility coins are created equivalent.

So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can satisfy the founders, you can inspect the code, etc. But for a typical person, there's now what, over 1,000 different types of coins readily available, almost 1,200 I think.

How do they do that? That's a fantastic concern. I will say that 95% of ICOs are either deceitful or just bad concepts. Okay. Right? There's nothing worse than somebody that's young, earnest, with a horrible concept, that someone gives $40 million to. Right? Yeah, completely. So yeah, so I don't truly take part in numerous ICOs, and I advise you probably side step 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 actually start taking a look at the concept in more information. So here are some fast and filthy things that you should look at, right? So, one is, are they resolving a problem that requires to be solved? One of the big disadvantages with very smart, technical people, is that they like to resolve problems that nobody cares about solving.

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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 need to be straight associated to cryptocurrency, it does not need 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 4 guys in a room that are just out of college, unless they have actually got some truly good consultants behind them, I'm most likely not going to provide them any cash.

Yeah. I believe that in marketing in basic, my world of business, we continuously try to find issues and how we can fix them. Now, are the problems things that individuals are attempting to fix a part of the Blockchain generally? Or would you state it's better if they're solving 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 essentially searching for solutions that, so I'll offer you an example.

And the reason that we bought it is because they discovered a method to make files tamper-proof, and it's 99% more affordable than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a track record of creating computer programs that whole states run their entire operations on, right? So you've got all right, the clever man has actually constructed substantial computer programs, great team, fixing an enormous issue that is going to cut big expenses.

I suggest, it does not get any easier than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually basic rule, Ryan. If I don't understand something, I set up 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 discovered from dealing with Wall Street throughout three years, is how to read people. I've met tens of countless people throughout my profession. I've met experts; I've met fund managers, I've satisfied stock promoters, I have actually fulfilled all these various types of characters along the way.

So I believe that's probably one of my extremely powers, if you will. And if you've got a great BS detector, you must listen to it. how to swing trade crypto. Okay. You should definitely 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 sitting well with me, there's something about them that's not sitting well with me.

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There are many other deals out there to take a look at. Yeah, there's excessive chance. Yeah. And speaking of chance, you understand, you sort of mentioned at the beginning, Bitcoin and Ethereum, many people have actually heard of these two, particularly Bitcoin, since it appears like it's 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 turned up from state $3,000 not too long ago, it's rather volatile. Do they type of wait on a pullback, or do they just state, "Okay, I'm going to purchase some Ethereum, I'm going to purchase some Bitcoin, see you in 10 years." You know? Yeah that's an excellent concern.

You can actually use tiny stakes, and transform them into life-changing quantities of cash. So I think the initial 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 pleading my parents 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 method you're not going to get the perfect rate, however you're going to get a great price. And then simply leave it alone. And to your concern, is it far too late to buy Bitcoin? Absolutely not.

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Right now 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 indicate, I'll take that all day long. A bit much easier in cryptocurrency than picking up Apple stock. Proper! And you spoke about this volatility.

Implying that Bitcoin has to do with 10 times more volatile. And they think that as it becomes less and less unpredictable, it's going to be easier to in fact count on as a currency. Correct. Now, we're in an age where news, whether you call it FUD, fear, unpredictability, doubt, truly drives the rates of these cryptocurrencies up and down it appears like. how to trade crypto on robinhood.