Ask yourself— “How many people do I know trade or own Bitcoin?” Ask around and see for yourself, better yet if you do come across someone who does own Bitcoin ask them this. “What is a blockchain?” Be prepared for blank faces, shrugs or just wild guesses.
So, what is a blockchain? Not sure? You’ve come to the right place.
Listen to the weekly altcoinsidekick.com podcast, and you’ll understand the game and what the cryptocurrency business is really all about. We discuss cryptocurrency and blockchains— what they are, how they work and the players behind the technology.
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Is picking tomorrow’s cryptocurrency winners luck or are there tools that can help?
A casino floor covered in slot machines is not a bad metaphor to use if you had to guess which, out of thousands of coins and tokens competing for the big time, will be the household names of tomorrow. One pragmatic approach is to follow the money. Out of the thousands of potential choices, around 95% of the total volume in the cryptocurrency markets flows into the top 20 coins by market capitalisation.
This alt-coin is attempting to disrupt the world’s most valuable business.
A cryptocurrency wants to muscle in on the most valuable business model in history. How big is the potential, and what problem is this upstart cryptocurrency attempting to solve?
Losing cryptocurrency traders do the same things in all conditions. Winning traders don’t.
Consistent speculators approach the business of market speculation, just like a building company, who price bids according to their expectation of success, factoring in lost bids because they don’t expect to be awarded every bid they make. Before the 5% engage with the enemy, they have studied the lay of the land, and know the expected cost. Like the building company, the 5% know without reasonably accurate expectations, they have little chance of remaining in business.
Trading cryptocurrencies can look easy, but tripwires are hidden in plain site.
The biggest problem with technical indicators is not the indicator itself, but you. Human beings are pattern recognition machines. Subtle shifts, changes in light or sound, and our fight and flight mechanisms kick in. This kept you alive in our hunter-gatherer prehistory, but it does not serve you so well when looking at patterns or shapes on a chart.
Just like cryptocurrencies, personal computers went through a boom. If you could travel back in time, imagine taking a seat at the inaugural meeting of the Menlo Park Home Brew Computer Club, where enthusiasts were busy programming, designing, and dreaming.
Sitting there, in Menlo Park in 1975, would you recognise the man who would be king?
Poker has a lot in common with financial speculation, and as the great Amarillo Slim said, “If you can’t spot the sucker in your first twenty minutes at the table, you are the sucker.” Anytime this is pointed out to someone, they’ll tell you it doesn’t apply to them, unaware that the subconscious patterns that manipulated them in the first place are hard at work behind the scenes protecting them from themselves.
Out of distrust in centralised financial systems, came Bitcoin. And from Bitcoin, blockchains. In the future, what if blockchains are used for something other than their original intent?
Could a solution to a debt crisis, an idea born to democratise citizens control of their assets, be used as a system of control? With the public long gone, is this why the big players are interested in cryptocurrencies?
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