“The hype is very dangerous. When you start to feel everyone is investing in a certain coin, it’s too late.” (click to tweet)
Cryptocurrency is entering its next chapter.
With Bitcoin’s price now steadily hovering around $10,000, it’s clear the attention is being distributed amongst other coins. Knowing which of these coins deserves our focus will separate the great investor from the mediocre. How you isolate which variables to examine is something we can learn from the experts.
On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are taking a moment to review top highlights from this week’s episodes. From understanding where the crypto landscape is headed with Brock Pierce to hearing why Stellar Lumens is a great long term hold with Dave Levine, the level of insight in this week’s dialogue will help us take our crypto investing game to new heights!
And don’t forget! You can also listen to The Bitcoin Crypto Mentor Mastermind Show on Spotify! Click “Follow” and let me know what you think!
“The idea of a social network that would pay its users. That’s what would kill Facebook. Watch out for Steem.” - Tai Lopez (click to tweet)
Points to Keep In Mind
- Binance is now valued at over $1 billion
- Don’t forget to ask whether the coin makes sense or not
- Walmart has now reduced shipment tracking time from 7 days to 2.5 seconds using blockchain
- Be sure to dollar-cost average when investing
- Be sure to take your coins offline; Coinbase only protects their hot wallet
- Stay on your fundamentals because that’s what got you there
- Remember that the crypto community is a unit
- Choose platform companies over product companies
- The job of the tech entrepreneur is to get lied to all the time, but not in a malicious way
- Siacoin is a peer-to-peer storage model
- Try to gauge level of disruption when evaluating crowdsourcing business models
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- Or will it just make up a market niche
- Siacoin is in a heavily competitive space and highly commoditized
- It took Amazon Web Servers a long time to grow to full market scale and adoption
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- Hard to imagine Siacoin being able to do it in a shorter amount of time
- Confront the reality versus the expectations
- Some wallets create different public keys every single time so you don’t expose your private key
- Use blockchain.info or blockexplorer.com to see Bitcoin transactions
- Cost per transaction of Stellar = $.00003
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- The reason there is a cost is to prevent spam
- IBM is using the Hyperledger blockchain platform for contracts
- The blockchain will bring security to Data Transport Protocol
- A good teacher doesn’t tell you what to do; he or she transfers knowledge and lets you make the decision
- Imagine a real estate market that’s fractionalized where you can invest in portions
- Read the Innovator’s Dilemma to learn how the incumbent gets disrupted by the startup