Wen Lambo Crypto Podcast

“With your key, do not expose that to anyone or lose it. Because if you lose it, you’ve lost your Bitcoin.” - Amith Nirgunarthy

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Don’t let crypto wallets intimidate you.

They are just part of the process and can quickly be demystified. Owning cryptocurrency is unlike any other type of ownership because it requires storage inside a public/private key-based wallet. These can be online or physical, and hold the proof of ownership, so you can buy/sell Bitcoin.  

On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are joined by Amith Nirgunarthy, the Founder and CEO of the cryptocurrency research institution Blockstreet. He is also the former Director of Marketing of Bitcoin IRA. Amith specializes in understanding all things cryptocurrency, so today we take a moment to hear his insights on crypto wallets.

This is a snippet from the Tai Lopez’ paid Bitcoin Mentor Mastermind program. To sign up, go to tailopez.com. 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!

“This is why Bitcoin is here. So we don’t need third parties, we don’t need government, we don’t need authority.” - Amith Nirgunarthy

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Points to Keep In Mind

• Paper wallet is synonymous with cold storage/offline
• The key distinction with wallets is: you can either control or not control your private key
• If you have a large sum of money, move it into wallets that you can control your private key
• There’s a public key (shorter) and private key (longer)
• • Both are sequences of letters (uppercase and lowercase) + numbers
  • Sometimes represented as QR codes for easier admission
  • Don’t ever show this to another person
• With Coinbase, you do not control your private key, meaning the government could take away your Bitcoin if they wanted to
• Some predict Bitcoin will be $1 million by 2024

“There are 3 things I need to understand. Does the token address a market need? Is there a big market opportunity? And is there adoption?” - Alex Cho

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Do your due diligence.

Reading the white paper, learning about the management team, understanding the distribution; these are the things we must do before investing in a token. If we don’t, we’ll likely get bit by something we could have seen coming.

On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are discussing what to look for before investing in a token. Inside the white paper are all of the important details, so take note of what to be on the lookout for during this research phase

This is a snippet from the Tai Lopez’ paid Bitcoin Mentor Mastermind program. To sign up, go to tailopez.com. 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!

“A smart contract is a legal contract that’s executed using the network of computers hashing the blockchain algorithm.” - Alex Cho

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Points to Keep In Mind

• Learn about the technology, the offerings, and the market potential in the whitepaper
• Ask, “What have they done up to this point to establish their credibility?”
• Warning sign if site doesn’t even list the management
• Use the wallet that the white paper recommends that you use
• Use Google Trends to get pulse on public’s perception of certain coins
• API stands for application programming interface
• A smart contract is a legal contract that’s executed using the network of computers hashing the blockchain algorithm

“Is the person successful? You always want to ask that first.” - Dave Levine

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Cryptocurrency is confusing.

That’s why we seek the opinions of experts. Those most knowledgeable and closest to the action are able to take take their vantage point and distill it into the wisdom and insight we can absorb. But knowing who are pure sources of knowledge and who are the phonies is what separates the great self-educator from the average.

So today, on The Bitcoin Crypto Mentor Mastermind show, we are discussing what makes a Bitcoin expert and who can we seek out for advice and opinion. From Peter Thiel to Chamath Palihapitiya, we are taking a close look at the thought leaders in the cryptocurrency space.

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!

“You want information on mining? Find someone who has been mining for 10 years.” - Dave Levine

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Points to Keep In Mind

• Read/watch Ethereum Founder Vitalik Buterin’s thoughts and writings
• Bitcoin has the largest market cap; Ethereum has the highest number of transactions
• Read Founder of Consensys Joseph Lubin
• Part of your research should be who are the founders
• Be skeptical of non-video information sources
• The learnings might not click the first time you hear them
• Follow Chamath Palihapitiya and Peter Thiel

 

“Platforms gain more value than individual companies operating on top of the platform. You’re investing in the base-layer.”

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Is Bitcoin crashing? 

What was once at $18,000 is now hovering around the $12,000 marker. Is it time to get out or double-down? What can we take away from this drop in price? To answer that question most accurately requires continuing to pursue your cryptocurrency education.

That is why on today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are taking a moment to recap the highlights from this week. From discussing Facebook’s viability as a blockchain technology to learning about small but promising coins like Nimiq from Amith Nirgunarthy, this week’s crypto conversation will shed light on Bitcoin’s falling price.

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!

“I think there is going to be a course correction at some point. And if you study financial cycles, you’ll see this happens all the time.” - Com Mirza

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Points to Keep In Mind

• Do your due diligence on who is backing the coin to determine legitimacy
• There are rumors that Mark Zuckerberg is going to launch his own ICO at Facebook
• Many people think cryptocurrency is a fad because there is no value exchanging
• Understand no resource of expertise is omnipotent
• All financial cycles operate in bubbles, and then bubbles burst
• Habibi Coin is real estate-backed, currently raising $100 million
• Uport Consensys aims to solve identity issues
• EventCoin is a ticketing system built on Ethereum
• OMG is a payment-processing platform built on Ethereum
• • Already working with McDonald’s
• Watch Joseph Lubin videos to learn about his projects
• Red flag if the white paper doesn’t list the project milestones
• Companies that hit their project milestones tend to do better over time
• Iota didn’t do anything to fix security flaws that were pointed out to them
• Ripple isn’t decentralized, which makes its status as a cryptocurrency questionable
• Verge is not as private as people think it is
• Nimiq is a virality coin
• Look at the team, the code, and how people talk about it on Telegram groups
• • All of this looks very promising for Nimiq

“Read the distribution mechanism in the white paper because you don’t know how much dilution you might experience with new token issuances down the road.”

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The white paper is everything.

It distills the complex world of cryptocurrency into layman’s terms. Without it, we are just as lost as the next non-techie. But with it, we are able to learn the technology in a way that empowers us to hold our own inside conversations with crypto technologists.

On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are discussing two points we must look for when we read a crypto’s white paper. First is the token distribution mechanism; how will dilution work when new tokens are issued? And the second is: what are the project milestones and what is the company’s progress to reaching them?

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!

“A consistent pattern of execution tends to increase the value of a token over time.”

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Points to Keep In Mind

• Red flag if the white paper doesn’t list the project milestones
• Companies that hit their project milestones tend to do better over time
• An ICO or token-generation event typically has an investment period that lasts anywhere from 3-6 weeks
• • The sooner you participate the bigger the bonus you get
• Read the white paper’s stakeholder distribution mechanism and fundraiser allocation
• Understand what potential dilution you might experience with new token issuances down the road

“EOS is Ethereum on steroids. That’s not what it stands for, but it is Ethereum on steroids.” - Amith Nirgunarthy

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Delegated Proof of Stake (DPOS) is the future.

Its technology enables the network to operate more flexibly and efficiently than any other consensus model out there. It is only a matter of time until all cryptos are forced to move to this type of network, and that is why we must focus our attention to coins that are built on top of the DPOS model.

Today, on The Bitcoin Crypto Mentor Mastermind show, we are joined by Amith Nirgunarthy to discuss EOS and his other favorite, Nimiq. Amith is the Founder and CEO of the cryptocurrency research institution Blockstreet. He is also the former Director of Marketing of Bitcoin IRA. Amith specializes in understanding how cryptocurrency fits into our global economy, and how it will inevitably replace the current model of currency.

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!

“You might see something like ‘Sponsored on Twitter or Facebook.’ Remember that just because a company has good marketing doesn’t mean their coin is legit.” - Amith Nirgunarthy

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Points to Keep In Mind

• Dan Larimer is the technical brains behind Steem and BitShares
• • Steem.io has a higher Alexa ranking than Bitcoin.org
• Dan Larimer has developed a delegated proof-of-stake framework
• EOS is much faster than Bitcoin; it will be faster than Ethereum
• Nimiq is a virality coin
• Look at the team, the code, and how people talk about it on Telegram groups
• • All of this looks very promising for Nimiq
• Eos would be used to back every technology: flight patterns, escrow, flight status, etc. 

 

Check out the FREE Bitcoin training presentation here: tailopez.com/bitcoinpodcast “You have to ask yourself, ‘Fundamentally, do I think the concept of blockchain and cryptocurrency will survive?’ And if you do, then the rest is all noise and nonsense.” - Tai Lopez

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Common sense is our best asset.

Yet today, with all the Bitcoin-fueled emotional outcry, we can see that most people have lost touch with their common sense. This is what happens; that over time, we let the influence and opinion of others alter our common sense radar. It is our job to get it back on track.

On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are distilling the truth about the latest Bitcoin news. Regardless of the price, if you believe blockchain technology and Bitcoin have the ability to revolutionize how value is exchanged, then there is nothing to worry about. How we achieve this peace of mind is by accessing our common sense.

Check out the FREE Bitcoin training presentation here: tailopez.com/bitcoinpodcast

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!

“If you don’t have mentors, you will fail. Or you will succeed 10 years later than you needed to.” - Tai Lopez

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Points to Keep In Mind

• Taking into account dollar-cost average allows you to be less impacted by the price fluctuations
• Jeff Bezos is now worth $105 billion
• Learn how to properly evaluate the overall validity of the investment decision
• Remember journalists are always trailing the truth
• Wal-Mart just purchased Jet.com for $3 billion to compete with Amazon
• There is not widespread adoption of cryptocurrency yet; this means it is not too late to invest
• Figure out what avenues you can make money in, and then go down that path
• The average person does not save enough money to retire
• First, understand the potential investment and then make a decision and stick to it
• It’s okay to agree to disagree
• Learn by accumulating wisdom like a gold miner collecting gold
• Education can make you a living; self-education can make you a fortune
• What you know about investing is a predictor for happiness
• Read the 8-page whitepaper on Bitcoin
• Read Capital by Karl Marx to understand the flow of money
• Don’t judge something by the direction the price moves; examine the underlying thing instead

Check out the FREE Bitcoin training presentation here: tailopez.com/bitcoinpodcast

 

“Platforms gain more value than individual companies operating on top of the platform. You’re investing in the base-layer.”

(click to tweet)

There is no crypto so unanimously loved like Ethereum.

And that makes sense. Its technology enables other crypto developers to build networks on top of it. It is the power source behind so many of the cryptos we see today, and for that reason, it can be regarded as a type of mutual fund investment. If an Ethereum-based crypto is doing well, then that means Ethereum is doing well.

Today, on The Bitcoin Crypto Mentor Mastermind show, we are joined by Dave Levine. Dave is an expert at detecting which coins deserve our attention. With his personal business on autopilot making $14 million/year, Dave has committed his life right now to researching and understanding cryptocurrency. His insights will undoubtedly help propel us to make the $700,000 he’s made in the past year investing in cryptocurrency.

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 success of Ethereum is going to be based on the success of these companies building on top of it.”

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Points to Keep In Mind

• Uport Consensys aims to solve identity issues
• EventCoin is a ticketing system built on Ethereum
• OMG is a payment-processing platform built on Ethereum
• • Already working with McDonald’s
• Watch Joseph Lubin videos to learn about his projects
• Ethereum is like a mutual fund; if the companies built on top of it do well, then so well Ethereum
• A Bitcoin maximalist says that Bitcoin will adopt any rising crypto technology, but Bitcoin can’t adapt any technology
• • Ethereum is able to absorb other crypto technologies
• Zcash is a leading privacy coin that has been incorporated into Ethereum

“Siacoin is going to totally remove the need for Amazon web servers while being tons and tons cheaper.” - Jai Bhavani

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Your industry might not be relevant to the cryptocurrency you’re researching.

But that doesn’t mean you can’t invest in it. As long as we try to understand the way the world is moving, we can develop an investment thesis to align with our crypto predictions. And if you’re somewhat aware of the power of the Internet, you will find today’s episode especially intriguing.

Today, on The Bitcoin Crypto Mentor Mastermind show, we are joined by app developer Jai Bhavani to discuss his top 3 Internet cryptocoins. Each of his recommendations is a crypto that aims to solve some issue in today’s current Internet paradigm.

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!

“Substratum allows you to access the Internet without limitations that would be set by net neutrality.” - Jai Bhavani

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Points to Keep In Mind

• Siacoin works with Amazon web servers
• • Decentralize that data while providing cheaper solution (5x less)
• Substratum offers a solution to access current internet if net neutrality
• Basic Attention Token removes the advertising middleman
• • 960 million people have ad-block software on their browser
  • Led by the former CEO of Firefox
• Iota didn’t do anything to fix security flaws that
• Ripple isn’t decentralized, which makes its status as a cryptocurrency questionable
• Verge is not as private as people think it is

 

“Do the due diligence. Do the research. Go through the whitepaper. Look at the team. Look at who’s on the advisory board. Because this is Startup Economics 101.” - Com Mirza

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Imagine a world where real estate meets blockchain and cryptocurrency.

It doesn’t take an expert to see how this is possible. Today’s real estate paradigm is one of the most archaic systems in our economy; being required to hire ‘agents,’ so you can then purchase plots of lands from a centralized government. The vast room for technological disruption is calling cryptocurrency.

That’s why on today’s episode of The Bitcoin Crypto Mentor Mastermind show, we are joined by serial entrepreneur Com Mirza who is at the forefront of this mission. His new Habibi Coin (HBB) tackles many of the inefficiencies in the real estate paradigm, and today we hear about his views on everything crypto-related.

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!

“I think there is going to be a course correction at some point. And if you study financial cycles, you’ll see this happens all the time.” - Com Mirza

(click to tweet)

Points to Keep In Mind

• Do your due diligence on who is backing the coin to determine legitimacy
• There are rumors that Mark Zuckerberg is going to launch his own ICO at Facebook
• Many people think cryptocurrency is a fad because there is no value exchanging
• Understand no resource of expertise is omnipotent
• All financial cycles operate in bubbles, and then bubbles burst
• Habibi Coin is real estate-backed, currently raising $100 million
• • 25% on land developments
  • 25% on cash flow investments
  • 50% goes into buying out interest-varying mortgages
• The best tip: make returns from crypto and then invest in real-world assets
• Goldman Sachs is discovering that crypto has real value
• A ponzi scheme is metaphorically described as a game of musical chairs
• Some ICOs don’t allocate 100% of the funds raised to backing the currency
• • HBB is able to send 100% of the funds: how they do this is figuring out the technology before raising funds