Cryptonomics

Many people have lost money in cryptocurrency, either from oversight, malice or just not knowing how to prepare for market madness. One fellow asked me the other day about how to deal with the pain of seeing his portfolio go from millions to... not so much. While I'm yet to make and lose my first million, I do have a few ideas about emotional intelligence.

Here are Kurt's tips for a happy loss, explained in detail in this episode:

1. Count your blessings

2. Find the lessons in the pain

3. Feel deeply

4. Embrace the journey

5. Let go

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Luis Fernando Mises is known as the founder of the Emancipated Human website and podcast, as a healer using plant medicine such as huachuma, and as a consultant on servant leadership - helping bosses learn to serve their employees and create a productive workplace. In a recent project management engagement with the Federal Reserve, Luis was surprised to learn that many people there are very interested in digital currency - especially Ripple.

In this episode, Luis explains why he sold his bitcoin and ether, and moved his position mainly into the Ripple token XRP after speaking to some people at the Fed, attempting to put his sails into a head wind and hopefully increase his own financial freedom. Kurt counters by making the case for a small project called Halo Platform.

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Guide to Investing in Gold and Silver: https://www.amazon.com/Guide-Investing-Gold-Silver-Financial/dp/1937832740

Hidden Secrets of Money: https://www.youtube.com/watch?v=DyV0OfU3-FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ

The cryptocurrency market has been making steady lows since January 2018. After going down for so long, most people have forgotten about their crypto dreams of lambos and how this technology is the future, sold their now piddling stake and even taken down their shingle that said "Crypto Guru".

But some intrepid warriors persist, looking at these low prices not as a market defeated, but as an opportunity. Can someone make money investing in a low market like this? And if so, which projects are worthwhile?

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Bitcoin and cryptocurrency still carry a stigma, promoted by Big Media, that their only uses are funding terrorism and buying drugs on the Dark Net. After the last bubble crashed in 2018, many people are even under the impression that the entirety of the technology is a pyramid scheme or otherwise a fraud. In fact, there are many legal uses for crypto, some of which are already current, and many which will be revealed in coming years.

Some examples include: a store of value, monetary sovereignty, tracking a supply chain, online or brick and mortar commerce, sending money to politically unpopular causes such as Wikileaks, proving copyright claims, and the sale of digital assets to represent shares in a company. 

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The Venezuelan government released the Petro in 2019... Sort of. Cryptocompare.com says they have no data about what the current price is, and Coin Market Cap doesn't list it at all. It seems that it was a state-sponsored scam.

A government releasing their own crypto isn't so important to the long-term success of the market. Cryptocurrencies are already finding adoption in one way or another - used in commerce or as fund-raising tools for new companies - in the world's largest nation: the Internet. It doesn't need a formal declaration to have legitimacy. Real-world use is its own statement of legitimacy.

Join Kurt and Chris Guida as we discuss this question, and also whether someone should sell their bitcoin after losing 90%.

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After a solid year of bitcoin making low after low, you might think that it will continue to make new lows. You might even be so confident as to sell bitcoin short - that is, to borrow bitcoins in order to sell them, and profit when it goes lower. Would that be a smart move in market like this?

Or would the opposite action be correct - has crypto been going down for so long that it's "due" for a turn around? Should you invest in cryptocurrency now, in February 2019?

The other day I spoke with long-term Bitcoin enthusiast and software developer Chris Guida to get his take. 

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According to Warren Buffett, there are two rules to making money:

1. Don't lose money.

2. Don't forget Rule #1.

Sounds pretty obvious, but the question is how to apply it to build your wealth over time? One vital tool is asset allocation - carefully dividing your portfolio over several markets, and rebalancing when they gain or lose share.

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Is bitcoin going to zero in 2020? Probably not.

I sat down with long-term Bitcoin enthusiast and smart guy, Chris Guida, to discuss this question. Chris's response was, the longer something continues, the more likely it is to continue. Bitcoin has been around for ten years, and so it's likely it will be around for ten years more. We also discussed the potential threats to cryptocurrency - some undiscovered bugs, states messing with it, sending NSA spies onto the dev team.

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The other day I sat down with my friend Chris Guida, long term Bitcoin enthusiast, software developer and all-round nice guy, to discuss some questions about cryptocurrency that people had raised on the Internet.

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Firstly, do we regret investing in cryptocurrency? Both of us started buying years ago, so the answer was a clear no. However, there are many people who didn't have the good fortune to buy so early. Chris says it's likely that the crypto market will come around again - just like with a traditional market, there's a boom and bust. It's easy for a lot of folks in the media to say that bitcoin is dead and will never come back - but literally hundreds of pundits have said that before, and it hasn't stopped crypto yet.

We also discussed whether the crypto bubble of 2017 was a pump and dump scheme, a manipulated effort by whales and market makers, pushing money in and loudly and taking it out quietly. Wherever there are markets, it's almost guaranteed that people are trying to work them in their favour, but in this case it's unlikely that there's one grand conspiracy to push up the price. The price, and the bubble, is a result of a lot of individual actors, buying, selling, holding, and saying the truth or saying lies about what they're doing.

Patreon has blocked YouTuber Sargon of Akkad for dropping N bombs, calling it hate speech. Now many customers and creators are leaving Patreon even if they don't like Sargon. Turns out when it comes to people spending their money, they don't like being Patreon-ised.

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Sargon's rant: https://youtu.be/74llFWdeKNM?t=4171

Wikileaks Mastercard parody: https://www.youtube.com/watch?v=jzMN2c24Y1s

Wikileaks bypasses financial blockade: https://www.forbes.com/sites/jonmatonis/2012/08/20/wikileaks-bypasses-financial-blockade-with-bitcoin/#150ad8b67202

Satoshi advises against it: https://bitcointalk.org/index.php?topic=1735.msg26999#msg26999

Removal of Infowars: https://www.theguardian.com/technology/2018/aug/06/apple-removes-podcasts-infowars-alex-jones

Luke Rudkowski demonetisation: https://www.youtube.com/watch?v=Qb4swxN89Mw

Jordan Peterson alternative to Patreon: https://www.dailydot.com/layer8/jordan-peterson-patreon/

Matt Christiansen and Jacqueline Hart: https://www.youtube.com/watch?v=Hv7hvZee-PQ

ShortFatOtaku MasterCard conspiracy: https://www.youtube.com/watch?v=IAM3RPRDncU