Why Get into Crypto anyway?

This may seem like a silly question, but a lot of people really don’t know where to start or even why to get into crypto.  When everyone is talking about it, it’s usually time to get out, but the reality is, they’re just talking about it.  The number of people currently invested in crypto is minuscule.  There is a huge swath of world population that thinks they’re either too late or think it’s a fad.  I would argue that these are mostly the same people.  It’s like thinking you were too late for the internet in 1998, just totally wacko.  Yes, there was a big correction, which was followed by the most growth an industry had ever seen.  What do these people think will happen with crypto?  Those thinking it’s a fad or not backed by anything, look at the US Dollar, neither backed by anything nor initially believed to last for long as a fad.

how to get into crypto

Why Get into Crypto now?

Beyond the fact that crypto is at the precipice of exponential growth, why not throw some gambling money into something that could be bigger than Microsoft & Google combined?  Forego dinner out for a week and let it sit for 5 years.  Seriously, what are you waiting for?  Imagine hearing about the new horseless carriage and thinking what a silly fad it would be.  If you’re not at least putting some spare change in, I’ve got to think that you love being poor or you’re afraid of technology and shouldn’t be using the tech required to read this.  Make no mistake, within the next decade crypto currency will be as common place as high-speed internet.

 

 

Ways to support the Show and get a top notch product:

Want to start into crypto safely and easily? https://www.coinbase.com/join/58ddbace00724d025c1fea6b

Securely store your crypto with a Ledger Nano S: https://www.ledgerwallet.com/r/89e7

Need to do a crypto exchange: https://changelly.com/?ref_id=55cbe27dc0e1

A VPN is surprisingly important, support the show and start surfing securely. https://www.linkev.com/?a_aid=12788962

Check out Binance, one of the most diverse exchanges on the market: https://www.binance.com/?ref=12091725

 

Why get into Crypto when there are so many bad stories?

Let’s be honest, there are always bad stories about everything, that’s just what gets views, sales, like, etc.  If you focus of the fact that as I’m writing this, Bitcoin is down 14% for the day, you’re missing the point.  Every market has ups and downs & they’re DEVASTATING for traders and those timing the market for a ton of different reasons.  If you play it smart and safe, you’ve got nothing to worry about.  Bittrex shutdown new trading accounts for a while, maybe this leads to some investment advisers getting into the business to manage your money for you.  Or maybe you go over to Binance, or jump on the ICO for Next Exchange https://next.exchange/?ref=Y2Q1NjhiMjFlZQ (and support the show).  Bottom line, there are options for trading and getting your first pot of crypto.  These big drops are that opportunity, take advantage of all the fear selling and buy your crypto today.

 

I constantly ask people if they take it as payment and they ask why get into crypto, if it’s a giant bubble.  I mention a correction and they laugh and ask about it finally crashing.  I’m baffled by this need to validate their regrettable decision to not get involved.  Don’t be one of those people that refuses to get involved because they weren’t there at the very beginning.

Why get into crypto & what crypto to get into?

We’re seeing a ceiling to what the Bitcoin & Ethereum block-chains can handle.  The transaction fee for me to put about $900 in an exchange was $37, would have been $45 if I wanted it faster.  That’s is offensive, this is why I’m looking to finally liquidate the rest of my BTC holdings.  Ether is about tapped out because of congestion on the chain.  The sheer number of crypto platforms and currencies built on top of Ethereum is terrifying and likely a leading contributor to it’s congestion.  I like BitShares, but I think they’re mischaracterizing their strength over ETH when they brag about their speed and ability to handle more transactions.  They don’t have so many platforms and smart contracts interacting on them.  That being said, I’m no longer holding any significant amount of Ethereum because it has become so congested.  I have a great deal of ETH based tokens, but they’re all at risk if the Core team can’t figure out how to scale, quickly.  There could be a lot of tokens out in the cold and near worthless if these problems aren’t quickly resolved.  That would be the true Ethereum killer, half the market essentially dying due to congestion and uses abandoning.  I hope the many platforms using the ETH blockchain are prepared at a moment’s notice to convert to a different blockchain.  I know it is not short order of work to do, but it as prudent as running anti-virus software and not clicking on links messaged to you.  I love PROOF Suite, but I’m afraid they’re missing the boat and focusing on their product while neglecting a plan B for making it work on a usable blockchain.

 

Interested in getting started with Bitcoin or Crypto in general?

Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.

Donate through Patreon OR Send Swarm City Tokens (SWT) to support the show: 

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Analyze Before You Buy*ICO Shutdown?

Building Crypto Today Podcast

Analyze before you buy, the market constantly changes

I’m getting blown up from folks wanting to get into Crypto.  This is partly due to trust and rapport, but also because I’m warning them to think and possibly wait for a pullback.  Why wait? Well, the market is at an all-time high, as usual.  We’ve seen enough 1-2 month pull backs that we should be expecting another.  My expectation, a lot of money will pull out to pay for Christmas credit card payments.  Then we’ll see a boat load of cash flood back in after US tax returns get paid in the March – April time frame.  This could all be completely wrong, I’m just guessing based upon my analysis of markets and human behavior.  My point in all this, look at the market history and the project whose crypto you want to buy before jumping in.

 

An ICO Freeze ?!?!? I doubt it, seriously

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CryptoKitties bring blockchain mainstream

Building Crypto Today

The dumbest thing I’ve ever heard of, CryptoKitties is surprisingly enough, exactly what the cryptospace needs. Stupid time wasting crap is what makes the world go round. I personally hate it because transactions on the ETH blockchain are hanging for days if you don’t bump up your gas price. I started experimenting on a new exchange and it’s awesome!

I’ve decided to put in on Zilla, what do you think about it? From my perspective, this is going to be a HUGE win as market adoption moves faster forward. This will make ICO investing SO easy that your grandmother can do it. This really is the future of crypto investing and VC investing especially. Check them out and support the show if it makes sense for you, but make sure you’re not in the US or at least have a VPN running first. https://zla.io/i/u/mJzMZoPr5EgW7nRP

Why are the CryptoKitties such a gift & curse?

CryptoKitties might be the new beanie baby and they’re really highlighting Ethereum and really all Blockchain’s ability to kill itself. We’ve come to a point where market adoption has surpassed the technological capability of the platform. Now as we attempt to scale, we’re stuck in the debate of fleeing ETH to something with potentially more stability like ARK or IOTA while ETH figures itself out or stick it out and hope for the best. I can say that I’ll be putting every spare cent I have into crypto for the foreseeable future as the big institutional investors are preparing to jump in. I know I definitely don’t want to miss the waves they create with their billions. And let’s be honest, they’re not as dumb as they act, they’re likely waiting for the next big dip before they throw their billions into the market. They’ll certainly want to capture the best market rate possible and not try to get in during a the cryptokitties flash sale.

cryptokitties

Check out one of the most diverse exchanges on the market: https://www.binance.com/?ref=12091725

Binance

Forget CryptoKitties, you need gas to make a transaction go in these busy times.

https://ethgasstation.info/

Do you want to learn more about gas, or just reference the going rate? Check out the link above, it’s a great resource. Gas isn’t like NEO where it is a totally separate token. Gas is just a little bit of ETH that you have to pay to transact on the Ethereum blockchain. IOTA doesn’t require it, but all other blockchains do. It is one way to mitigate spam and Denial of Service Attacks. Requiring someone to spend actual money to do interact with the blockchain ensures that it has some level of importance to them. Gas, usually around 1/2 US cent, per single transaction, is what you give to a “miner” to validate your transaction and spread it to other nodes so it can be updates on the ledger. This provides security, but with all security, there is a monetary and speed cost. There is a ton of math and coding behind gas, but like gravity, we can get by in most instances by understanding the basics. Stuff falls and you need to spend a little bit of Eth to send money.

Is Tether a scam and can it be trusted?

Building Crypto Today


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Is Tether a scam and can it be trusted? This is a legitimate question. With 2 hacks in 2017 and their own currency that somehow never changes in value, there are more than a few skeptics and for good reason. A lot positive and negative press is constantly streaming through the webs about Tether and how it is the downfall or savior of crypto. I’d say it’s a little more negative than positive, but still useful. As the old cliche goes, don’t throw the baby out with the bath water.

tether a scam

Ways to support the Show and still get top notch support:

Want to start into crypto safely and easily? https://www.coinbase.com/join/58ddbace00724d025c1fea6b

Securely store your crypto with a Ledger Nano S: https://www.ledgerwallet.com/r/89e7

Need to do a crypto exchange: https://changelly.com/?ref_id=55cbe27dc0e1

A VPN is surprisingly important, support the show and start surfing securely. https://www.linkev.com/?a_aid=12788962

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TAXATION IS THEFT

Let’s just be clear, taxation is theft. With that being said, I pride myself on be a strict, fair, and loving father. I try my very best to teach my kids everything I can about freedom. Like any parent, you struggle to ensure your kids aren’t brainwashed with partisan garbage the government schools teach, same with grandpa Buck and his Faux new or aunt Sue and her Clinton New Network (CNN). Well one Sunday night as I’m putting my daughters to bed, my son is trolling through FB with his mom and BOOM! He gets it… I think I must be doing alright as a parent.

taxation is theftCheck me out at D.Tube it’s a new open source, decentralized version of Youtube that doesn’t censor people.  https://d.tube/#!/v/josh-bctpodcast/p0aywrlp

If you’ve got questions or comments, want to see something specific covered, or want to come on and join the conversation, give me a shout at Josh at BuildingCrypto.Today

Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.

Donate through Patreon OR Send Swarm City Tokens (SWT) to support the show: 

Any ERC-20 tokes are appreciated: 0xf59fd77Afe562aa4E5B66dA6e7A67B4651fAc538

 

 

Listen to the Building Community Today Podcast at:

www.BuildingCrypto.Today / iTunes / Stitcher / TuneIn

#2 Picking winners, losers & what to HODL 

Building Crypto Today

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Important terms to know coming into this: ICO (initial coin offering), VC (venture capitalist), HODL (hold)hodl

There are a ton of varying perspectives in terms of what you should be looking at for cryptos to buy, sell, HODL, or initially invest in via ICO. A popular theory is that of the the traditional VC; I think it’s wrong. Wrong might be a bit strong, but in general, it’s not quite accurate because of how new the industry is. Crypto is just different. We’re average people investing in these new companies, we’re VCs. When we’re investing in an ICO or any token for that matter, we are acting as a VC.

HODL or not, this is why we’re different

Some ICOs have been very strict about taking only accredited investors, that is to say, rich people. There is nothing wrong with that, they have a right to do their own thing as long as they’re not harming anyone. They’re missing a massive market by excluding so many people. This is where and why crpyto diverges from traditional investing. When you have 100K different people investing anything between $1Mil USD to $20 USD, you don’t need any incredible marketing staff, you just need to let people come in, then talk about what they’re so excited about. This is a driving factor of most crypto, someone tags a coin on Twitter and the price jumps or dumps because people didn’t realize it existed or simply forgot about it. When you limit your investors to those in the upper-middle class of Americans, you pretty well push out 3/4 the world. By allowing regular people in, you significantly increase your free advertising and decrease your need for the traditional VC needs. Continue reading

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Building Crypto Today How to get into Crypto

Welcome to the community, built for newbs to start learning and get into crypto an otherwise challenging world in a safe way. We’re not in the investment advising game, we’re not CPAs, nor are we attorneys, but we do love to share information and help other good people do good things.

This week we’re getting into the beginnings of crypto, places to start and a few reasons you may or may not want to start. There is a coming boom and busts will surely be an integral part as they are in any market. Like the .Com bubble, there are a great deal of completely useless cryptos out there. We will in the not so distant future see everyone flooding into the crypto market, I’m guessing we’ll see a bump going into winter with a big spike in late spring 2018 after Americans get tax returns and their annual slush fund.

If you haven’t yet, but want to get into Crypto, you may want to wait.

A fundamental truth about the markets, they tend to figure themselves out. The crypto market is still so new that it hasn’t had a chance to work. There haven’t been enough opportunities to show off working technologies, they’re all too new. What we are likely to see, possibly in the summer or fall of 2018 is a big correction when all the 2017 ICOs don’t deliver their marvelous promises. This will have an equally chilling effect on the solid ICO groups who do deliver on their equally marvelous promises. Some quality groups are set to make some amazing technologies come to life in 2018, but the pull back will likely hurt them just like the .Com bust.

The saving grace if you want to get into Crypto after getting through all this.

This is still the future of the economy and world we live in. Even if you invest today on an up market and stay through the coming corrections, you’ll still be postured to win big in 3-5 years. As the saying goes, HODL, just HODL. That’s a joking way of saying hold. Don’t hold just anything though, there are a lot of trash coins out there. Just like when investing in an ICO, look at the whitepaper and team for the token you want to invest in. In an up market, I don’t make too many picks. Everyone is doing great when the money is flowing, but you see the solid teams and projects in a down market. When a parity wallet bug or hack occurs, you see the strong teams come through. Stick with those projects, they keep working because they are there for more than just the money.

So many options in terms of what to do, that’s on you, I’m just here to give you perspective on the options in front of you.

get into crypto

If you’ve got questions or comments, want to see something specific covered, or want to come on and join the conversation, give me a shout at Josh at Ritchey.Space

Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.

Donate through Patreon OR Send Swarm City Tokens (SWT) to support the show: 

Any ERC-20 tokes are appreciated: 0xf59fd77Afe562aa4E5B66dA6e7A67B4651fAc538

 

Listen to the Building Community Today Podcast at:

www.BuildingCrypto.Today / iTunes / Stitcher / TuneIn