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Episode-2782- The Future of Crypto Currency — 12 Comments

  1. Hey there! Thanks so much for all that you do inform/educate the masses! … I have a crypto currency question and not sure if it’s ever been answered by you (not on today’s podcast) … in a previous podcast you’ve mentioned that someone said “what if the internet is cut off, then how will our crypto work?” and you’ve said, “if they turn it off, everyone will be screwed, so it wont happen.” But you haven’t covered the more practical angle on that topic, which is … targeting! Individuals may be targeted via their mobile phone provider networks. Just like the service providers for Brighteon and Bitchute have been turned off on them, legit professional doctors who’ve shared their real patient recovery results from covid patients – the individual may face that, targeting. Then what does the individual do if they cant buy/sell/trade from their phones, home internet, etc? I’m not trying to be an asshole, I promise you. I’m just asking the question. What does the targeted individual do at that point? Is there something else that I’m not seeing? I’m a newbie to crypto currency, like just two weeks of learning, but haven’t bought any yet.

    • Who knows about a possible completely totalitarian North Korean style of control. But presently it is pretty easy to buy and use anonymous internet by the use of free wifi and preloaded sims just to get started. But if you watch some of the youtube videos from escapee’s you’ll hear them talk about watching SK tv on their highly controlled internet and the like. So even there, there may be ways. I’ll add that the “build back ‘better'” folks are pretty dependent on an easy to access internet in order to track us. There is only so much they can do before they start breaking the internet for that use as well.

      btw.. bitchute is still up and doing quite well.

      Also.. you need to compare it to your other options and decide for yourself if its utility is greater than the risk. If done correctly, crypto is the best option for non-tracked transactions when not being face to face. If that is something you see value in, then maybe it may be a good idea to convert a few dollars into something easy to use like ‘Bitcoin Cash’ and buy some cheap chinese goods on openbazaar to see how it works for you and if it is something you want to continue messing with.

      by the way, OpenBazaar.org is a p2p program that creates a service similar to ebay, aliexpress, amazon, etc. Worth checking out. I’ve been using it quite a bit this year.

      • Thanks Derek for your remarks – much appreciated. There’s no doubt for the need to get in to crypto. Sometimes I just over-analyze things before making big or uncomfortable decisions.

        Yes, Bitchute it still functioning great, even though they suffered from some targeting. FB still bans them with certain content.

        I agree with you on all the benefits of crypto, especially “non-tracked transactions”. It’s like Jack has said, just get started with a small amount that you willing to risk and learn as you use it!

        Do you know of any domestic website that’s like OpenBazaar.org? I’d rather not “benefit china” any more than they already are.

        • Start by not publicly publishing an address, next never receive to the same address twice, most wallets allow unlimited unique addresses.

          If you are smart convert some portion of your assets into privacy coins. The two best right now are Monero and Pirate. Once in either your actions are totally invisible. In theory one day maybe someone may crack Monero, it is in theory possible. With Pirate good fuckin luck. Based on how it is done if someone ever did (not likely) they’d only crack it from that point forward. By then we will have something even better.

          But you, you should totally stick to US dollars. LOL

        • “But you, you should totally stick to US dollars. LOL”

          nice. personally I always recall the admonition that “the best way to control the opposition is to lead it.” it’s likely that dollars and bitcoin/et-al are run by the same people, if not from the beginning then from some later time.

  2. I watch CNBC a couple times a day to see what’s happening in the markets. A couple very interesting things happened yesterday. First they had the Winklevoss twins on in the morning. They were early investors in bitcoin and started the Gemini exchange. Then I saw something for the first time – on the bottom right corner where they scroll through the various indeces (DOW, S&P, NASDAQ), they are now including bitcoin. Then this morning the talking head is covering the fact that it’s approaching “an all-time high.”

    This is becoming accepted and mainstream. The gubmet’s attempts to control it will be humorous to watch, and probably profitable for the holders of bitcoin.

    Jack – Alpharetta, GA

  3. I’m having trouble wrapping my head around the numbers. Is it better to buy something like ARR with bitcoin when bitcoin is high or low?

    • Assuming you’re talking in terms of dollars, it depends on whether ARRR is increasing or decreasing along with bitcoin.

      Most big exchanges refer to these relationships not in dollars but in terms of crypto/crypto pairs, like ARRR/BTC. For example, ARRR/BTC represents how much BTC (bitcoin) someone can buy with one ARR. Think of it like a fraction, with ARRR being on the top (the numerator) and BTC being on the bottom (the denominator). ARRR is worth much much less than bitcoin, so dividing ARRR by BTC will give a small decimal number. CoinEx for example currently gives an ARRR/BTC price ratio of 0.00000950 BTC, meaning one ARRR will buy that tiny fraction of bitcoin. So if you’re selling ARRR to buy bitcoin, you want that number to be higher. But if you’re looking to use bitcoin to buy ARRR (and it sounds like you are), you would ideally want that number somewhat LOWER so you get more ARRR for a given amount of bitcoin.

      All that said, if you’re starting out I’m assuming you’re playing with small amounts, and thus shouldn’t worry much about getting the timing right or waiting for a better price. You’ll likely be waiting forever and getting caught up in analysis paralysis if you do that. Just decide on the SMALL amount of bitcoin you’re willing to spend to buy whatever altcoin you’re interested in, and go ahead and buy some now. You’ll want to make a note of the price ratio you bought at, at this stage mostly so you can just learn and observe over time how the price ratio will fluctuate and change. For now, try to see it not as you getting richer or poorer, but rather as this is just being part of the process of learning the ropes. One of the reasons we start out using only small amounts 🙂

  4. For anyone wanting to explore cryptocurrency but hesitant about it, I have two words… “baby steps”. Don’t get frustrated with what’s good to buy or how much from the start. Just do one nibble at a time.

    First day, just create an account with Coinbase from your computer. (use this link http://bit.ly/coinbasetsp )That’s all. It’s as easy as signing up for Facebook or Twitter. Write down your password in a safe place (or better, TWO safe places), and just browse & explore their site for a bit. You’ve got no money in there yet so you can’t break or lose anything. Go nuts.

    Second day, in Coinbase fill in your name & mailing address and upload a picture of your driver’s license which will give you access to extra features like fiat-crypto exchange and their Earn Rewards program. Takes five minutes, most of that just involves the process taking the picture of your drivers license with your phone and transferring to your computer and then Coinbase.

    Third day (or whenever your proof of ID credentials has been approved), go to Coinbase and click on their Earn Rewards link. This is a rewards program which gives you FREE CRYPTOCURRENCY for watching short informational videos on various cryptocurrencies. Watch a 2-3 minute video, answer a question on said video, and you earn $2 or so of that cryptocurrency. Go on to watch more videos if you like, or save them for tomorrow. Do it on your time.

    Three days spending 10-20 minutes per day, and you not only have a crypto exchange account and learned a little about a new cryptocurrency, but you now own cryptocurrency YOU DIDN’T EVEN HAVE TO PAY FOR. Each following day just spend 10-20 minutes logged in, watching videos, and looking up and learning about the various cryptocurrencies offered there. A week or two of this, and the prospect of converting a few bucks to crypto and installing your own personal cryptocurrency wallet (like Jaxx wallet) seems pretty easy and no longer intimidating.

    The key is taking small steps (and when first buying and trading, dealing with small amounts). This stuff looks more intimidating than it really is.

    P.S.- you don’t need to start with Coinbase either… I only use Coinbase as the example because it’s the US exchange I’m most familiar with and they have that free crypto rewards program.

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