Over the past couple of years, many people have become aware of cryptocurrency and its primary underlying technology: Blockchain.
Like most people reading this, I didn’t understand the concept of blockchain right away. I found out about Bitcoin in 2011 when the digital coins were valued at $2 but didn’t think we were ready for digital money.
At the time, I saw Bitcoin as digital coins stored on a hard drive and not, more accurately, as The Internet of Money.
Unbeknownst to me, digital money was far from a new concept.
I bet you didn’t know…
Most of crypto’s underlying framework, namely proof-of-work, P2P network, and cryptography, has been around for decades.
Bill Gates Once Offered 100 Million For A Cashless Money Transfer Technology
It was the late 90s and I was a young boy.
I remember thinking money would evolve into a digital form someday – maybe an implanted chip that tracked our bank balances as we shopped.
The idea came from my elementary school teacher, but we thought of it as more of a futuristic fantasy that would occur long after we were all dead.
We never imagined the foundation for this technology was already being laid by the Cypherpunks community in the 1990s – a time when very few of us even used the internet.
In any event, Mr. Mendez was right on the money.
The digital money he foresaw turned out to be a code-based ledger where transactions are processed, validated, and recorded by various members of the network – all on the internet.
It is a far cry from the computer chips we conceptualized from movies like Terminator 2 and Universal Soldier, but astoundingly on point nonetheless.
The Year That Changed Everything (And Made Many People Rich)
Fast forward to 2017, with a better understanding of the basics regarding blockchain, I began to ponder the implications of this kind of technology:
- Banking – international wire transfers (lower fees and quicker turnaround)
- Music – royalties for downloads and streams (better deals for artists)
- Pharmaceutical – supply chain (multi-level production tracking)
- Elections – digital voting (real-time results)
- Financial reporting – tax compliance (more transparency)
And that’s just to name a few.
Blockchain is still in its early stages, and there will be further advancements in the years to come.
Think of artificial intelligence, the internet of things, robotics, 3D printing, and so forth. All these technologies could intertwine with blockchain.
The Blockchain Revolution Is Well Underway (It’s Only A Matter Of Time)
There will be many more investment opportunities, but this one is ripe for the picking right now, and unlike the stock market, there are only a handful of solid projects to sift through. All you have to do is start paying attention and do your research.
Cryptocurrency has just as many critics as it does proponents. Why? Let’s look at the three main objections…
The Top 3 Objections To Crypto (Hint: They Are Kind Of Bullshit)
Critique #1: No Intrinsic Value
This means Bitcoin is not backed by a valuable commodity such as gold or silver.
However, the same could be said of the USD, considering we have not had a gold standard since 1933. Fiat money (USD) is created from the issuance of government bonds which are then purchased by central banks with freshly printed money –nothing is backing this new currency.
Don’t believe crypto mining takes time and resources? Try telling that to this guy.
Critique #2: Scam And Fraud Potential
Did you know that USDs are the primary currency used for illicit activity in the world right now?
It has been that way for decades, with one study even claiming 90% of U.S. bills carry traces of cocaine.
The majority of pump and dumps over the last century have been perpetrated in stocks using U.S. fiat currency.
Scams are an inevitable reality in the world, but we can’t blame blockchain and digital currencies.
Critique #3: Not Issued By Government
Dollars are not issued by the government either, although they are indeed backed by the “full faith and credit of the U.S. government.” This essentially means they can tax you to come up with any money you are owed.
Our money is issued by the Federal Reserve, which is not part of the government.
The Creature from Jekyll Island by G. Edward Griffin is excellent for understanding how the federal reserve works.
Trust me: It’s not what you think.
Internet Money For The Internet Age (The Odds Are Stacked In Your Favor)
The future is now.
Crypto is internet money for the age of the internet.
I am not telling you to jump on the crypto bandwagon for quick riches. I am saying if you get focused, do your research, and learn the market, you could set yourself up for the kind of prosperity others will only ever fantasize about in their wildest dreams.
Do The Fucking Work, And Forget The Social Media Hype
Around the peak of the BTC boom in 2017, John McAfee famously predicted a price of $500,000 by 2020 and promised to eat his penis if he was wrong.
This is how the majority of pump and dump schemes work.
Everyone and their grandmothers buy in a frenzy with the hopes of getting fabulously wealthy. The old get-rich-quick scheme will never go out of style because suckaz are born every day.
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” – Warren Buffet
You don’t need to be greedy. I’ll show you how to practice safe crypto and still produce extraordinary returns.
But first, let’s go over some disturbing facts about the global economy…
Something Wicked This Way Comes (Looming Bubbles In The Economy)
A bubble by economic definition is an artificially inflated asset class that will pop at some point, losing half or more of its value at a shocking pace. In 2000, we had the dot-com bubble; then came the mortgage bubble in 2008. Which bubble is next? It could be:
- Real estate
- Stock market
- Student loans
- Credit (bonds)
Perhaps all the above?
In 2008, we kicked the can down the road with trillions of dollars worth of bailouts and money printing.
A Rolling Stone article from January of 2013 states, “The only reason investors haven’t run screaming from an obviously corrupt financial marketplace is because the government has gone to such extraordinary lengths to sell the narrative that the problems of 2008 have been fixed.”
This trend has only continued into 2021, with money being printed at a mind-blowing rate; and rescue spending for COVID is expected to hit 3.8 trillion.
How To Profit During Economic Stagnation (And Perhaps A Financial Bloodbath)
During the next big economic downturn, you will see alternative stores of value such as gold, silver, and platinum rise in price. This is all but guaranteed.
Precious metals rise in price during times of economic turmoil because they are difficult and expensive to produce. More importantly, they are limited in availability.
This is why they are commonly used as a hedge, or insurance against economic uncertainty.
Many believe Bitcoin and other cryptocurrencies will be utilized as hedges too.
Crypto Is A Tiny Asset Class, Second Only To Silver
Let’s look at some of the numbers:
The total market cap of all cryptocurrencies is only 2% of the stock market and a tiny fraction of global assets (global wealth alone is 360 trillion).
Meanwhile, we have reached the last stages of the most epic of stock market bull runs and have not had a major economic recession since the ‘great recession’ in 2008.
One thing is for certain though.
Vast Amounts Of Wealth Are Created In Times Of Severe Economic Turmoil
Do you think big-money investors will pass on a hedge for their wealth during the next recession?
Where will the money flow? Could it be crypto? Could it be precious metals? Elementary, my dear Watson…
All that is needed for crypto prices to skyrocket are a few trillion dollars to be dumped into the market.
Innovative Tech Is Notorious For Crashes (And For Making People Rich)
Remember: severe drops in market value do not always correlate with declines in real value.
Amazon went public in 1997 and was valued at $18 per share for its IPO.
During the buildup of the tech bubble, it reached an all-time high of $89.38, before crashing all the way down to $5.97 in 2001 for a 93.32% loss.
As of March of 2021, Amazon is valued at $3,060, a 51,156% increase from its low in 2001.
Many internet-based companies evaporated during the early 2000s, but there were also massive gains to be had for those who were able to identify the best projects.
I still remember a time when my mom rented DVDs from Netflix – we thought it was dope because we no longer had to drive to the movie rental business in town.
Netflix stock was priced at about $1 back then, but now it is valued at $536 and happens to be a staple of modern life.
The Future Is Now (Welcome To The Second Wave Of Internet Innovation)
There is one thing we cannot deny about crypto, and that is its extreme volatility.
But having perspective is key in all markets. The situation is a little like the guy explains down below. This cycle will repeat again in the future.
Doomsday predictions were rampant in every one of the previous corrections.
The gut-wrenching price swings are a lot for anyone to handle, which is why it’s so important to adhere to the following:
The Golden Rules Of The Market Cycle, And The Safest Path To Success
- Buy At Support Level: Purchase solid cryptocurrencies at support levels.
- Avoid Frenzies: Don’t be a follower. Forget your hopes and dreams and focus on logic and patterns.
- Maintain Perspective: All the world’s revolutionary technology was subject to the market cycle (see below).
- Macro Outlook: Bitcoin is far from perfect, but no disruptive technology ever was. Things take time to unfold.
- Have A Solid Strategy: This is crucial. My book recommendations will show you what to do and how to do it.
Remember, cycles are part of the nature of a market.
This cycle has repeated itself over and over in the history of the stock market.
But it can be applied to any market. In other words, markets have boomed and crashed before, and they always will.
Most people only invest when there is euphoria in the market, instead of making wise investment decisions during times of uncertainty.
You will need to have the patience to wait out bear markets and tenacity to handle the ups and downs when it begins to trend upward. You will also need to do the work.
Things Are Changing Fast. But The Opportunities Still Abound…
This post was originally published on Menprovement.com, in May of 2019 – the absolute bottom of the market, and a perfect time to buy cryptocurrency.
At the time, mainstream media was still saying cryptocurrency was doomed to fail.
They have changed their tune quite a bit since then.
They were partially right though.
When someone on Quora or Youtube says crypto is a scam, they are not totally full of shit.
Because most cryptocurrencies are indeed shit coins.
And yet, crypto is the future.
Do Your Own Research And Keep The Following In Mind
When the automobile was invented, the majority did not believe the heavy, noisy, slow, and break-down prone machines would ever replace the horse-drawn carriage.
It took years for the pioneers of revolutionary technologies to build the future which now includes fast and safe transportation, as well as immediate access to knowledge and resources that were only available to a microscopic portion of the world population before. This was accomplished step by step.
The internet has gone through hundreds if not thousands of upgrades, and so has the automobile.
Steve Wozniak, co-founder of Apple and builder of the first Apple computer has commented on blockchain:
“It takes me back to the early days of personal computers, where businesses didn’t think it’s going to be worth anything. And a bunch of us thought, ‘Oh my gosh it will be a different world if we all have computers.’ And it was such an exciting time.”
“Every single blockchain application I hear about, whether it’s manufacturing or materials sources or the history of real estate or voting – every application I hear about is ‘Woah, this is so intriguing. Will it actually work?’ And eventually, it boils out to which ones do work, and we need one bowling pin after another. And it may take a while to start it because people can’t change their ways easily to things they don’t understand fully inside.”
The Millionaire In The Mirror (A Great Book I Read As A Youngster)
The premise of the book was simple and straightforward.
These are the rules.
Rule #1: You should avoid catastrophic failures.
We all have setbacks – they are part of life. You cannot be afraid of failure if you want to succeed.
Just don’t fuck up big. Don’t get into massive debt, don’t get addicted to crack, don’t get busted with a prostitute, etc.
Rule #2: Roll the dice when the dice are loaded.
Gambling is only sexy when your chances of winning are high. Otherwise, it is a fool’s errand.
You might feel stagnant at times and even desperate, but you will need to think clearly in the hard times.
If you stay in the game long enough and avoid catastrophic failure, you will eventually come across a loaded set of dice.
What this means is various circumstances will align so your risk is reduced but the upside is tremendous.
Is Cryptocurrency The Future? Could A Faltering Economy Be Your Ticket To Financial Freedom?
Your loaded dice could be setting up right now in the global economy and crypto market.
Let’s start with U.S. fiat currency.
It can be printed at will by the federal reserve, watering down the value of your savings through inflation at a supposed 2% per year – many would say it is much higher.
Here’s some more data.
Inflation has risen more than 500% in the last 50 years (in the U.S.), while median income has only risen 100% during the same time period.
1930: Average Wage = $27,481
2012: Average Wage = $44,321
1930: Average Home Cost: $53,365
2013: Average Home Cost: $289,500
1930: Average Car Cost: $8,369
2013: Average Car Cost: $31,350
The dollar is losing its value.
The stock market has reached one peak after another for the last decade, with major indexes currently at all-time highs.
Yet, we continue to make incredible strides in technology.
And the internet will play an ever-increasing role in our lives as we keep moving forward.
We learn online, communicate online, network online, shop online, work online, date online, etc.
Do you think money will be exempt from this trend?
Facebook doesn’t seem to think so.
As we accelerate farther into the internet age, the economy is stacking itself in favor of alternative stores of value and other forms of currency.
Nouriel “Dr. Doom” Roubini, who previously predicted the financial crisis of 2008, recently said in a Senate hearing that 99% of cryptocurrencies are worth zero (shouts out to the Uneducated Economist, who put me on to Roubini’s testimony).
But even If 99.7% of them are going to zero, that leaves us with about 300 cryptos that could do extremely well.
Learn How To Fish, And You Will Be Fed For Life
All the world’s greatest disruptors were criticized when they first came on the scene. There’s even a Newsweek article in 1995 called “The Internet? Bah!” Whenever something brand new is invented, people are slow to shift their mindsets and envision a future that is entirely changed.
Perhaps it’s a lack of creativity; a lack of an ability to see the future different from what we know now. Maybe it’s a desire to see other people fail; to watch big businesses collapse or all the above.
With some cryptos near their all-time highs, we are no longer in the trough as we were a mere two years ago. But you can still make tons of money if you get on your grind.
The next meteoric uptrend could start tomorrow or five years from now, but it will happen.
FOMO, or fear of missing out, is what drove the last bull run in the crypto market.
Future bull markets, however, will be accompanied by real traction, implementation, and adoption.
As The World Turns, The Market Churns
When this was first written a couple of years ago, it included three solid picks, two of which have gained about 10X and another one that went 50x in February of 2021. These cryptos still have great potential, but I will refrain from mentioning them this time around. Instead, I will list everything I ever read on the topic.
If you do the work, it will be more than enough for you to master the crypto markets and make a shit load of money.
You Should Start With The Basics To Build A Solid Foundation
If you are a bitcoin and crypto virgin, read The Internet of Money, Volumes 1 and 2 by Andreas M. Antonopoulos.
The Internet Of Money
When you look past the surface, you will see that a handful of projects are extremely legitimate, sophisticated innovations that are capable of changing the world. You can ignore the tech if you want, but you will regret it later.
Next on the list…
London Letter is a nifty little cheat sheet that will introduce you to dozens of premier blockchain projects.
London Letter Reports
London Letter’s free report produced multiple 1,000% gains for my portfolio. There is also a ‘premium’ report you can pay for right here. I receive no money from London Letter.
Now let’s head over to Quora…
Read through every single answer Marius has written on Quora. Take notes and compile a list of coins that have solid fundamentals and high prospects. This will take your knowledge of the crypto markets to the next level. There is a time to buy, and a time to sell — never forget that.
George Tung is another prolific crypto writer on Quora. He doesn’t like Marius Kramer very much, so his content is a great way to get a well-balanced view of the crypto space. Read through every single one of his answers.
Focus Is Painful, But It Is The Only Way To Become Wealthy
Just do the work. Like swimming in cold water, it will feel better and better the longer you stay in.
Your anxiety will eventually be replaced by flow state, making you feel alive and optimistic.
The Greatest Achievers Break Things Down Into Small Steps
You do not need to become an overnight trading master to make money in the crypto market. Nor do you need to start off with the goal of making a million dollars. In fact, you should always be conservative.
Contrary to common knowledge, a trader can always control their downside risk by setting a stop-loss. On the other hand, some trades you expect to produce modest gains can go parabolic, bringing in tons of income in a few short days.
Below is a chart for BNB, which was seen as the ‘safe and modest’ option for conservative crypto investors.
BNB produced life-changing returns for anyone that got in last year. The ‘conservative’ token shot to the moon and made countless people rich. You too can learn how to spot these opportunities.
Safe Crypto Trading Can Have A Happy Ending (With Boat Loads Of Money)
Wall Street legend Richard Dennis set out to prove he could teach ordinary people how to make money from the stock market by following a few simple rules. His students, who would later be called the turtles, collectively made a shit ton of money by learning how to spot trends with a technical but practical methodology. The high volatility of the crypto market fits this metrics-driven approach perfectly. Learn the rules and apply them.
How To Invest Like A Shark (Big Gains Come From Insider Buying)
James ‘RevShark’ DePorre is a CPA and attorney who tragically became deaf in the middle of his career. With the market for deaf tax attorneys being extremely limited, he was left with no choice but to succeed in stocks. RevShark will show you how to scan for simple patterns in price and volume that have potential for life-changing returns (FREE CHAPTER RIGHT HERE).
How To Master Momentum Trading (And Make Massive Gains)
Winning in crypto is about spotting momentum, and selling at the right time. Ignore the bullshit-sounding copy on the book’s cover. The content is what counts, and this one contains practical information that will show you how to make money.
These easy-to-read, unorthodox approaches all synergize to lower risk while maximizing your chances of catching a parabolic trade. They are not what you would learn in college or in any book about fundamental analysis. They are practical strategies meant to give ordinary people the best chance of getting extraordinarily wealthy.
Apply these practical strategies every day until you master them, and you will be well on your way to a loaded bank account and total financial freedom.
Your Ego Is A Scam (It Kills All Your Most Precious Opportunities)
Unless you do the work, you will continue eating scraps off of your master’s table for the rest of your life.
I get it. You want the mansion, the cars, the girls, and the freedom right now. It’s not your fault. We are wired to seek the highest returns with the least amount of effort and discomfort, but you must go against your instincts to win in the markets.
The market is designed to devour those without patience and tenacity. Are you strong enough to delay gratification? When it’s crunch time, will you be able to stomach the relentless onslaught of emotion? Are you willing to put in the work? Can you deal with crushing frustration without panicking? It’s all up to you…
Trading Is Psychological Warfare, And Only The Strong Survive
You are only human.
You will miss huge opportunities and it will suck. Your natural reaction will be to scramble and try to make up for lost gains, but chasing a parabolic trade after it has already occurred is the best way to lose all your money. Likewise, letting your greedy nature overtake you after executing a profitable trade is the straight and narrow road to destruction.
Remember the golden rules:
- Avoid catastrophic failure, and stay in the game
- Wait for the loaded dice scenario
- Keep doing the work
If you want to ascend to the next level, you must master your emotions, and learn to observe attentively without expectation. The wisdom will click when you are ready.
Once upon a time, I missed out on a huge trade. I watched carefully for months while the base formed and the chart pattern materialized. But the price was moving slowly, and I moved onto what I thought would be more promising cryptos. Then one day, the price launched through the stratosphere in the blink of an eye.
I had missed the biggest trade of my life. I sat in my chair with my hand over my face, running through scenarios in my mind. “What happened? How could I be so stupid? I have gone and fucked everything up, just like I always do.” These thoughts ate away at me for days and days. It was terrible.
The market is cruel. She doesn’t care about your feelings or your hopes and dreams.
Let go, and move onto the next pattern. The pain of missed opportunities can be used to refine your skills.
Keep Doing The Work, Every Single Day (And You Can Become Crypto Rich)
Whether it’s the glamor of a mansion and a Lambo, the freedom to wake up whenever you want and focus on your passion, or the ability to move to paradise with the girl of your dreams. You can get there if you put in the time. You just have to do the work.
You were too young to catch the internet bubble. Then you missed the social network boom. You probably also missed out on the Bitcoin explosion. That’s countless millions you have been missing out on. It doesn’t have to be this way.
Imagine having the opportunity to buy Apple or Microsoft stock for only pennies in the 80s. How about Amazon in the 1990s, Google and Netflix in the early 2000s, or Tesla in 2010? What would your life be like today?
There Is A Digital Gold Rush On The Horizon
There is a revolutionary new technology called blockchain that is going to disrupt countless industries. It will cause a seismic shift in the financial landscape, and it will create numerous opportunities to get rich.
Is cryptocurrency the future? Nothing is ever guaranteed, but the cost of inaction could be atrocious.
Get to work now, and your future could be brighter than a thousand suns.
One year of unwavering focus could change your life forever.
If you would like some tips on how to start gaining momentum right out of the gate, please visit my recommended resources page which contains a list of tools that have had a huge impact on my life, and can help you achieve your goals for health, wealth, and fulfillment.