Introduction to Cryptocurrency Investing

Curtis Chappell of Blockchain Collective joins us again for an introductory conversation around cryptocurrency and investing. Our discussion starts with distinguishing blockchain software from the cryptocurrency projects that utilize its infrastructure. We learn that crypto isn’t just a means of exchanging financial value, but is also created as tokens representing a myriad of values in business solutions. Things really get going when comparing our traditional view of investing with the new landscape of digital dollar projects and how to capitalize on coins. Grab your pen and a journal ... Curtis drops an immense amount of knowledge for navigating this space and also reveals some passive income opportunities and projects he’s excited about. He also shares real experience as an active user of bitcoin, bitcoin cash, and other coins that are currently accepted in everyday transactions, from bar food to paying your utility bills with cryptocurrency. Here we go!.

Show Notes:

1:42: First Movers Advantage: Bitcoin and #namerecognition

3:04: Bitcoin = financial value, but many cryptos specialize in solving real world business problems.

4:02: Where does the term “cryptocurrency” come from? #cryptographichashing #dataencryption

4:28: The science of “cryptography” and encoding information.

6:00: Centralized finance systems & decentralized finance systems. #goldstandard #federalreserve #decentralized

8:05: Bitcoin’s finite ceiling of 21 million bitcoins ever available—can never be deflated.

9:50: Investing: a system with its own language. Now cryptocurrencies?

10:48: Value of money, PE ratio and a quick accounting lesson.

12:06: Crypto itself doesn’t create revenue or earnings.

12:45: Price Discovery = Everyone’s best guess. “Buyer beware” of influencer project validity. Insight on how to research which projects to invest in.

*We are not providing financial advice, we are not financial advisers, you must do your own due diligence.

15:40: The influencer industry and projects that are complete scams. Coinmarketcap.com, coingecko.com — the first 100 projects are probably legit.

17:45: What is a crypto exchange? Cryptos can be different values on different exchanges.

19:40: Cryptos that are money vs cryptos that are projects.

20:40 Some problems: cryptos are difficult to purchase & manage.

21:00: “Transactional Time” = “transactions/second” which crypto is currently not convenient compared to credit cards.

22:42: Bitcoin addresses, “on-chain forensics” and public networks.

23:23: Privacy coins mask transactions for safety.

23:36: Utility tokens: you hold on to the token and get benefits from the business.

24:20: “Gas” tokens, etc. ONT & ONG for example.

26:50: So which cryptos do you spend and which ones do you keep?

29:45: Insight on using crypto transactionally (Bitcoin Cash for one)

30:30: “Satoshi’s Living Room” for paying bills with crypto.

31:10: Cryptocurrency is volatile, but blockchain isn’t like cryptocurrency projects.

32:50: Ethereum; blocktivity.io.

33:50: dApp compared to App

34:10: Passive income tokens.

35:00: “Staking” = token in a wallet on a network participating in “proof of stake” with rewards.

35:30: Cardano, peer reviewed white papers, think through conceptually and use applied science and cryptography and programming.

36:55: Icon (ICX) - chrome extension wallet for staking tokens which pay out every day, plus compounding options.

38:00: Master nodes.

39:09: Mining with quality computers.

40:46: Staking pools.

42:14: Find a project you believe in and learn as much as you can. Telegram and reddit are both places to find interesting projects.

43:00: Bonus Cardano information: ethical blockchain.

44:50: The concept of wallets in crypto: merely a window into what you own.

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A reminder that Blockchain Collective’s 6-Week Applied Blockchain Intensive Course will open up on September 24, 2020. Remember to use our promo code “Alpha200” for a $200 discount and join Jacki as she will be in this class! https://bit.ly/38YJhGCPROMO CODE FOR $200 DISCOUNT WHEN YOU REGISTER: Alpha200 (case sensitive)..🧘🏻‍♀️ Experience The Alpha Drop through Meditation: https://bit.ly/TheAlphaDropFBMeditationGroup 🤳🏼 Connect with us on IG: https://www.instagram.com/TheAlphaDrop 💻 Be a part of our conscious community on FB: https://www.facebook.com/TheAlphaDrop/ 🙋🏻‍♀️ Get In On Crypto: bit.ly/TheAlphaDropCoinbase