Preview Mode Links will not work in preview mode

Wen Lambo Crypto Podcast

Jan 28, 2018

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

(click to tweet)

Crypto investing is not a get-rich-quick play.

Contrary to popular belief, to do crypto investing right requires hours of extensive research, education, and commitment. The investor who sweats the most earns the most. This is unlike other markets out there where the sure-fire profitable plays exist. But here, the best crypto investors are the ones who understand the whole landscape.

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 Amith Nirgunarthy’s wallet advice to Trevor Koverko’s pitch on Polymath to Jai Bhavani’s top alt coins, the range of insight 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!

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

(click to tweet)

Points to Keep In Mind

  • The web initially presented itself in 1994 as a decentralized form of sharing information
  • Bitcoin decentralizes the centrally controlled financial system/institution
  • Make the goal to be able to “invest intelligently”
  • What percentage of your portfolio do you want to allocate to crypto assets
  • Invest a minimum of 1% into crypto assets
  • And a maximum of 10%; these are the early innings
    • Think about how nobody thought about social media in the early days of the Internet
  • Use the wallet that the white paper recommends that you use
  • Use Google Trends to get pulse on public’s perception of certain coins
  • Siacoin aims to decentralize the cloud storage typically offered by Amazon Web Services (AWS)
    • App developers can spend upwards of $5,000/month on cloud storage
    • According to the terms and agreement, AWS can lok through the contents of your storage; Siacoin would negate this
    • 6x cheaper per byte compared to AWS
  • Status is an app store for other apps/cryptos
  • 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
  • Toronto is the crypto Silicon Valley; Ethereum was founded in Toronto and made 1,000 millionaires
  • Polymath wants to be the Ethereum for security tokens
    • Removes the barriers for you to create a token
  • Be honest with your token launch; is it a security, utility, or protocol token