The title says it all! We are making final touches this weekend on the book and given the volatility we have no doubt many people have many questions. All of the good questions will be added to the book. No crypto isn’t dead. Thanks!!!
QUESTIONS ARE CLOSED NOW
I’ve read efficiency and was planning on putting a few grand aside to start a second stream of income. Am I better off just spending my money and time making the right calls in this market and starting a second income stream later, or doing both at the same time?
How do we reduce our cryptocurrency tax burden? I’ve heard people are creating S Corps and getting taxed at the new lower corporation tax rate, then the personal capital gains tax.
Thoughts on the flippening from BTC to BCH, will happen or not, and what will it mean for BTC price?
How do you think about the medium term (say 10 years) impact of quantum computing on the crypto space?
How to spot when a new and better technology comes along? Would it make BTC worthless over a long period?
1) Is there significant intrinsic value besides their market value? (for example it seems ethereum has some hard scaling issues)
2) Is there any other reason to hold cryptos besides holding them and waiting for the value to go high to sell?
Thanks and Happy Christmas!
Where would you look for a young programmer who’s short on capital, but who could vet code? E.g. Lucas Ryan at MetaStable, but without the investible funds. Or better to just index like Bitwise Hold 10 and allocate the time and capital elsewhere?
How do you guys evaluate the trade-offs between security and other features (e.g., scalability) when determining the value of a coin?
For example, Bitcoin is more secure than Litecoin but it doesn’t scale as well. IOTA and NEO promote their fast transaction processing speeds, but from what I understand they aren’t fully decentralized.
Similar questions above but I’d be interested to hear your thoughts on the legitimacy of TA and your strategy for entering and exiting positions. DCA, btfd etc. Really looking forward to the book, keep up the good work.
For higher NW individuals that are young and financially independent with cash flow coming in – how would you stack your investments/time learning about cyrpto?
For example if you had $1.5-2.5M and had a steady cash flow of $100k+ per month coming in – what % of your work time would you dedicate to cyrpto? My current plan was to dump any money beyond this point into crypto once I gain more knowledge.
The gains for crypto seem unreal, and I am mostly liquid.
Got into crytpo late in the game ( April 2017) from word by a Japanese guy with a tech background who went to grad school at Georgia Tech, and wrote his thesis on crypto. (2014)
He started out as an mentor for me, as he told me I was the only regular person who listened to him about crypto. We became good friends and now talk everyday. He’s well connected in the community of hodlers and frequently will travel to conferences and meet ups in Asia.
Today, 99% of the people I talk to about crypto say the same thing, in an attempt to sound smart…. tulip bulbs, dot com all over again, etc. All shit they heard on TV and think it’s intelligent…sad. It’s been very important now more than ever to have a network of others who are connected and cryptosmart. (small community)
The evolution of crypto since I have been in has been rapid, and it seems that mainstream media outlets and newbie retail traders in the USA are witnessing a lot of this for the first time. i.e The crash that happened yesterday has happened many times. BTC crashed from $8,000 to $5,000 when China banned exchanges just under 2 months ago, BTC Crashed when A-hole Jamie Dimon came out against it. BTW his people bought up tons of coins after that…corrupt
Also, from my experience in the stock market, day trading and losing $20,000 this year alone day trading (some have to pay to learn), I can tell you the the crypto “trading’ market has some similarities but mostly differences (for now). Chasing will kill you in stocks, as herd mentality is manipulated by institutions to profit, and crypto price swings are driven by headlines that the herd feeds into, but we, can easily profit on (as their is less manipulation, for now).
Most people, like us, don’t have time to predict peaks and valleys, or day trade the latest McAfee tweet, or read 1000 whitepapers to pick coins.
So this is what we do….
-Mining Contracts (similar to bonds and are the safest) We use Genesis
– Bitconnect (Lend at least over $10k, to get principal back much faster and a 1.25% daily payout) it’s a great hedge against bitcoin volatility. We have over $500,000 in loans, and make over $6,000 a day. (no referral crap, all lent out from our profits)
– Buy Altcoins (Top 30 coins) big volatility but in these you can see the biggest gains. preferable to get in cheap, but it’s hard to go wrong with most coins
-We choose to hold larger proportion in safe haven coins (such as ripple and litecoin)
-Take out principal giving you 0% liability (as long as it’s small % of portfolio)
-Buy into a few promising ICO’s. USI Tech Tokens is our choice
-Buy any crashes or hard dips (like yesterday)
-Learn, read, stay up to date, and filter out all the BS. Things change very quickly, so this is what we do TODAY, but maybe not next week….and 99% of crypto information on the internet is BS.
How to manage risk?
How to secure your coins & accounts?
How to tell if a coin is useless or not?
What is your opinion on crypto (how you feel about it and your logical predictions)?
Hope these are any good :/
Merry Christmas!
What about all the voices about bitcoin and other crypto “currencies” being a dot-com, house market-like bubble?
What will happen when the last BTC is sold?
Due to many hacks, high volatility, pressing fees and time for processing, it can never be a currency?
What about 2 years from now it will suppress the value of the whole US economy, which proves this is a bubble?
What about being one of the highest parabola in the charts, tons of economists are saying ti is a bubble?
Maybe the technology is great, but with all the future and current ongoing bank/governments/economic unions regulations, it will go bust?
Debated on this but have to say it, these questions are awful. Stop watching the news please and read the technology, you’re going down the wrong path.
I don’t watch TV, my company is actually in the tech. Here is why I think it is a bubble:
– The chart is a high parabola, much higher than the previous bubbles like the dot-com or the house market derivatives. In about several years, it will suppress the whole US economy combined.
– Everyone says the technology is great, but currently it is actually not. SHA-256 is not strong enough encryption to store your currency, why – in just several years there will be quantum computers available and in about more, their computing power may be available for the average consumer. You can’t just “transform” the current assets into a better algorithms that easily. The current processing power and transaction fees are so high, that it makes all other payment options, including cash much faster. Nobody will wait you at a supermarket 12 minutes to get a coffee of 3 USD, costing your transaction a 20 USD fee. Not to mention the lack of refund handling, a lot of times required by the law.
– A lot of fake news are used, fake PR releases, fake blog posts, fake news, fake videos. Some news agencies even use fake sources and bitcoin news sites, which spread misinformation. One “cryptocurrency” just used a fake partnership with Microsoft, Bosch and many other to make its evaluation 5 times bigger. And yes, even some big news agencies, digital, paper, TV and other bring it a true fact. Yes, I don’t watch TV and I hope nobody does as they pump the balloon even more as they don’t know what they are talking about.
– The supply. A huge cons for the crypto currencies. So Bitcoin sold more than half of the coins, from which 40% are owned by 1000 people. What does it mean? It means that this never could be a currency, why – because for order of it to become a standard currency it should be spread more “proportionally”. It just cannot become a standard thing if a small % of people have it.
– The high volatility is the reason it cannot become a standard currency. When you invest in stocks, you know the prognosis and the reasons why something goes up and down. Here you don’t know anything, it is just going up and down sporadically.
– Taxes, regulations, security. No currency can become a currency, unless the government want to collect taxes and fees from it. No currency can become a currency without any sort of regulations, this is the core of the modern politics. You have to have a currency policy about the fiscal budget, otherwise you can’t do welfare, it is true for all the Western world. It’s the core of stability, no matter how much we like it or not. Security – too many people lost too much money due to hacks. When nobody can protect you, when the government can’t intervene it defies the purpose of the technology. Many people say “well, we are in the wild west now, it will become more secure”, no, it can’t, and this is exactly because “nobody controls it”.
– Fake personality involved. The creator is a fake personality, I am talking about Bitcoin, the others are created by drug addicts, wackos, tech communists, tech anarchists, antagonists and people which know nothing about society and stability. You may say this is not a big deal, but it actually is.
– Too much speculations involved, and there are tons of people which know nothing about it and invest in it. Huge red flag.
– Government regulations. We already see government regulations being drafted, imposed and further introduced by China, South Korea, Russia, USA and the EU. These are big markets, if EU forces citizens to have their IDs associated with their wallets it is a completely different thing. It defies many of the purposes. I live in the EU, here everything is about regulations. If something cannot be regulated, it is out of the law. Every little detail must be regulated. If the EU can’t impose its hands on a “currency” I bet it will be outlawed in few years. It may not be able to ‘freeze” your assets, which I actually doubt, because my own government already froze 3B EUR worth of bitcoins, it may not permit you to do anything with it like buying properties etc. Not to mention you can’t do trade, nor nothing, if these digital currencies do not comply with the law regarding refunds handling, consumer protection, direct access to the tax buroue etc, EU is not the US.
I think if the bubble doesn’t burst sooner, it will burst when the last bitcoins are sold. Then the supply theory will just show how impossible it is to become a standard thing.
Regarding the technology, if the three biggest economies in the world – EU, the US and China decided they want to introduce their own digital currency, controlled and backed by the central banks, then this is a completely different story. I would vote for this with my two hands.
A ton of your “tech issues” have already been solved so we’re not sure how you actually work in the space not knowing half of the mentioned problems already got fixed
That said, there will be a lot of declines and the vast majority of the coins won’t be worth anything in the future
is Triangle Investing still coming out Jan 1?