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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The Rise of Bitcoin: How governments have confiscated their citizen's wealth and devalued their savings.
Throughout history, countries have had to decide between feeding the people or protecting them. But there’s another war being waged in the background. A hidden war. A financial war. And not one in 100,000 realises it’s happening.
And if you understand why it’s happening, how it’s related to the release of Bitcoin in 2009 and the technology that powers it, and why governments around the world scrambled to shut down the gates in 2017, it will give you an edge in understanding the problem a new coin or token is attempting to solve.
The 3 big social changes that may be the catalyst for blockchain mass adoption.
In a week where the UK and Europe had an unprecedented interruption of the Visa network, leaving millions stranded at checkouts, and Google announcing a ban all cryptocurrency related advertising, we discuss why 2018 is the perfect environment for the mass adoption and roll out of blockchain technology.
The link between Bitcoin prices and central banking, and why governments need to control the movement of capital across borders.
Sometimes, it takes time for great ideas to become a reality, we have to wait for a catalyst. Nations are self-determining their economic policies, and this could be the trigger for the mass adoption of blockchains. Cryptocurrencies democratise asset management, and governments can’t allow it to happen— (without them.) The reaction of governments to cryptocurrencies is a huge “tell” for the future of blockchain technology. And do blockchains have a dark side? How the upcoming paradigm shift in data storage and protection will solve one problem, but may, in reality, deliver another.
The tactics used by the establishment to ban or restrict money flows into cryptocurrencies, and what history suggests will happen next.
As the price of Bitcoin and cryptocurrencies continue to go down — have you asked yourself why the Bitcoin hash rate is at all times highs?
And when you are bailing out, and selling do you ever think about this — who is the counter-party? Who’s on the other side doing the buying?
How cryptocurrency whales use human nature to enter and exit positions.
Anyone who places a wager on a market outcome exposes themselves to built-in natural biases and behaviour patterns.From cryptocurrencies to real estate, prices move through a cycle of accumulation and distribution.
How prices move and your built-in behaviour patterns are closely related. If you’ve ever bought an asset when all around you are doing the same, you’ll know how this feels.
Cryptocurrency pro’s hide their buy and selling processes in plain site, and why the crowd almost always gets it wrong.
Do the right thing. Be right, study hard, work hard, get the best grades, go to the best schools, win the race, kick the goal, score the touchdown, hit the home run.
It’s competitive and exhausting…
Uncovered: The psychological glitch that’s the barrier to consistent returns.
Prices transition between trends in phases. And knowing what phase you are in can help you manage your emotions.
It works like this…
Down Trend — Emotion Bar — Accumulation — Base — Break out — Up Trend — Emotion Bar — Distribution — Break down —
And the cycle begins again.
All hidden in plain sight.
Conventional market dogma says markets are essentially random because they are efficient.
But they don’t factor-in the math of emotions and assume market participants act rationally at all times.
Discover the link that binds the games of luck and financial speculation together, and why it separates the few from the many.
You thought you’d found the perfect vehicle, your chariot of the gods, to help you master the cryptocurrency markets.
If you’ve been frustrated with your results, it’s not because you’ve not found the right transport. It’s because you don’t know how to drive it.
It’s not charts, indicators, and stop losses. This is what the 95% use and this is why they keep crashing.
If you want to get to your destination, it’s edge, position size, and money management. These are the steering wheel, brakes, and clutch of your chariot, and just like learning to drive, it takes time to coordinate how to use them.
What kept you alive as a caveman will destroy you as a speculator, and how your inbuilt patten recognition software is being manipulated.
What separates the 5% club who generate consistent returns in the cryptocurrency markets from the 95% who don’t?
The 5% club focuses on the size and probability of their losses instead of fantasising about how much they’ll win.
When you understand your edge, you can begin to use risk management and position sizing to take advantage of the opportunity. When you know how much you’re risking, the size of your position, and the probability of success, you can calculate the probability of going bust— your risk of ruin.
Before you do that, you need to uncover an edge. One of the tools the 5% club uses to let them know they may have hit pay dirt is expectancy.
Why the cocktail of conditional biases that have protected you throughout your life don’t work so well in the cryptocurrency markets.
Understanding how expectancy works, along with the risk of ruin, is the 5% club’s key to understanding it’s not the market they have to defeat, but themselves.
The voice inside your head, the voice that keeps you safe, is the greatest enemy you will ever face.
Expectancy is a tool that will help you understand how you behave. It’s your protection against how you react to the internal and external shocks waiting to keep you out of the game.
Awareness of your behaviour and biases is how you evolve from being inconsistent to becoming the house.
The antidote to the big 3 “F’s” — FOMO, FEAR, and FANTASY, that cause the most damage when you speculate in any market.
Success in the cryptocurrencies markets is about timing. You can have a great idea, and you could be proved exactly right over time, but if your timing is off, or you use the wrong trading strategy for the specific situation you’ve uncovered, then you’ll struggle to make a profit.
The Key to being a gatekeeper is being able to drill down and ask the market clearly defined questions.
And clearly defined questions come from translating the price action into behavioural conditions.
You are looking out for three of them. Thinking in threes.
Why trusting yourself defines the fine line between success and failure when trading and investing in the cryptocurrency markets.
Trading and investing in cryptocurrency markets has the potential to change your life. It has the potential to give you access to a commodity almost everybody wants, but so few people have. The freedom to live life your way. Beholden to none.
But what can give you freedom, also has the power to destroy you.
The journey towards self-sufficiency and freedom begins with trust. Trust in the information and trading strategy you have figured out, and not in a tip received on YouTube.
The journey starts with asking the right questions.
Why giving up control is like diving off the 10 metre board, and the tools you can use to act as your safety net.
The 4th dimension is fear, and if you could measure it, you could gauge the panic level in the market.
If you could gauge the level of fear, not in decibels, but in how much price movement Bitcoin is likely to move in the future, it would give you a way to measure the fear.
And if the level of fear is at an extreme, just like the screams and shrieks from an old-school squawk box, it means that traders are trapped — if prices reverse.
Continued education is the mantra for success. Instead of another degree, what if flipping your mental focus away from profits and towards risk is all that’s required.
Turning up to a gunfight with a knife in your hand is not a good idea,(unless you’re Britt from the Magnificent 7) but the 95% do just this when they jump into a market with little planning, dreams of avarice in their heads.
Being aware of what you’re up against is half the battle. The other half is mastering your emotions. Begin your journey towards 5% club membership by flipping your mental focus away from profits and towards risk.
How asking the right questions help to solve complex problems by narrowing down the target like a Venn diagram.
If you ask simple questions based on the evidence of what is actually happening, you’ll be able to adjust your expectations on the likelihood of Bitcoin regaining its title as the hottest game in town or imploding and continuing its descent.
By asking the right questions and adjusting your expectations, you’ll be able to spot the windows in time where Bitcoin tips its hand.
Pro traders know their point of reference before entering into a position.
The 95%, not being entirely clueless, have taken courses on technical analysis. The 95% are taught changes in momentum precedes changes in price. They are trained to use moving averages and moving average based indicators. Indicators based on the relationships between the open, high, low, and close of each bar or candle.
If a move backed by an indicator signal and a positive comment from a respected guru doesn’t work, the 95% attempt to force the chart to fit their beliefs.
And before long, they’re lost at sea.
Low tech vs. High tech. Can simple techniques find an edge
The majority of traders, the 95%, place their focus and energy into trying to be right. It’s their first major mistake. This is one reason why the 95% spend so much time searching for the perfect system. It’s why they invariably give up on a trading system because they are disappointed with their results.
A lot of traders look to complex solutions, like using trading bots to make their trade decisions, because they are time-starved and they’re sold on the idea that automation will solve this problem. Often though, it’s because they want a fast solution to their real problem.
Cheap doesn’t measure price against price; it measures price against value
If you want to buy the next Apple, Microsoft, Amazon, Facebook, or Netflix for pennies on the dollar, you’re going to have to take risks.
The 95% think the value of an investment is reflected in the price. They compare the high price of $3.32 to the low price of $0.245 and consider $0.57 as cheap.
If you’re going to sit around the table with the global elites, it pays to know what they know. And they know this: it’s not about price; it’s about value.
Speculation in financial markets is difficult because the lesson comes after the test.
After they have an inevitable string of losses, the 95% start to fiddle with the indicator settings. They back-fit the settings that produced the best results in the past, and they stack indicator after indicator onto a chart expecting to find the magic combination to unlock the success they’re so desperate to achieve.
Cryptocurrency: Imagine you know with absolute certainty what is going to happen in the future.
Transport yourself back to 1995. Imagine you’re sitting in a cafe — not a coffee shop. (This was before the trend of coffee shops replacing pubs) You’re listening to a group of young computer software engineers talk about their vision for the future of computing.
One guy stands up and starts with this…
“What if the computer of tomorrow was held in your hand? A device you took with you everywhere. What if the programs were colourful icons, like jelly beans you clicked with your finger? And what if they were everywhere. Inside the bus, even on the side of the bus, at work, at play. Everywhere.”
In October 2018, cryptocurrencies are in the doldrums and waiting for a catalyst.
On the 11th October 2018, Bloomberg announced Coinbase’s active customers have dropped by 80%. If you look at the recent action of Bitcoin and the leading cryptocurrencies, you’ll see that the crowd has packed up and left. They’ve moved on the next big thing.
Where have the crowd gone? Are there any potential triggers that will drive the public back into Bitcoin and blockchain investment?
Blockchain technology: Is there a secret sauce?
The 5% Club don’t waste time trying to unravel the technobabble. Instead, they go in search of a toll bridge.
The most successful and consistent speculators and investors respect the technology but know understanding how the technology works is not going to be of much use.
It’s all about context. You may read about a particular feature of a blockchain or cryptocurrency, but unless you can understand the advantages and disadvantages the information is next to useless.
If you’ve not got a technical background, and find the technical material on blockchain technology not just overwhelming but incomprehensible — don’t panic. It’s not the disadvantage you might think it is.
Short term pump or real trend? — Cryptocurrency metrics that matter.
If you’re interested in investing in blockchain technology, how do you make a choice? Is it possible to take a fair guess on what the future will look like, and is it still possible if you don’t possess any technical computer science skills?
Which technology do you back? What has the greatest chance of making it? If you buy for the longer term, how do you know if the investment you make has a shot at the big time?
Is your investment idea at the start of a new trend or is it experiencing a sugar rush?
The bottlenecks behind blockchain security.
Take a step back, and keep it simple. Ask — Is the technology in alignment with government agendas? Is it more likely that sovereign states will allow you to control the buying power of your own money, or is it more likely that government agenda (and businesses who own patents on technology) will support a blockchain designed to keep data safe, scalable, and future-proofed against the potential of a paradigm shift in computing power?
Is Bitcoin a store of value or a digital currency suitable for everyday use? How do you choose between Bitcoin original with SEGWIT and bolt-on performance boosters or Bitcoin Cash?
Which version is going to be successful, and, in a factoid filled world, how can you make sense of the madness — especially if you’re just starting out?
A recursive dive deep into the technical abyss, or take a step back and ask two simple questions.