I did an episode of Miyagi Mornings this morning and it was on the rumor that Trump would roll out “Burdensome Crypto Wallet Rules“. I covered why that resulted in an almost 3,000 dollar drop in BTC pricing but why it went back up over a few days. I won’t get deep into that today so if you want the full explanation on it, check my video about it here.
The key here is Crypto is a technology and there is a massive and multi faceted industry build upon it. What we have seen from the very beginning well over a decade ago is an continued escalation. Every time the state does anything to impede crypto, developers and the industry devise solutions to counter them.
We have entered into an arms race that I don’t believe the state can win. They will have to figure out to exist parallel to a “crypto economy” whether they want to or not. In the end though I want to be clear, today’s show is almost all what I would call “educated speculation”.
Join Me Today to Discuss….
- First I almost always get the what right, but often the means not quite right
- My forecast for online music from 2004 as an example
- The short version on the Trump controls rumor and why the drop did not stick
- The things I see as the future for the crypto economy
- First that it is an emerging economy not just a trading scheme
- Decentralized exchanges are the future of crypto
- Privacy coins will become dominant in the space and only get better
- Privacy itself will be a massive growth industry
- Micro transactions like Doge Tipping, LBC, Spice, BAT, etc. will continue to grow in popularity
- More “reserve currency” options will be created, many independent of USD, Euros, etc.
- The return of the “virtual nation” and “shadow digital IDs”
- Growth in crypto only product and service offerings
- Alt coins will often do well but I doubt “everything will go up” ever again
- Some crypto will be made to work specifically with the main stream market (fedcoin friendly)
- My Five Don’ts
- Don’t give into FOMO
- Don’t listen to the willfully ignorant
- Don’t start with a lot of money
- Don’t start with “trading in mind”
- Don’t let fear keep you out (pizza money start)
- I’ll end with what I said last week, crypto must be seen as a skill set and one that you need to develop
Resources for today’s show…
- Follow Life With Jack on Instagram
- TSP Facebook Group
- Join the Members Brigade
- Join Our Forum
- Walking To Freedom
- TSPC on Discord
- TSPC Group on Telegram (group chat)
- TSPC Telegram Channel (just messages from me)
- Jack on Parler
- Jack on MeWe
- Join Me on LBRY
- Sign Up for CoinBase – Get 10 bucks in free bitcoin when you fund your account with 100 dollars after set up.
- The Jaxx Wallet
- CoinEx No KYC Exchange (as long as you don’t want to use fiat)
- I Remember Everything – John Prine
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