Bitcoin Ethereum News
Imagine though time traveling all the way back to a big win was just a fraction.Under pressure to sell right now.And then buying it they’re in pretty cool.As of done that took so many times still cool though let’s begin.
Hi my name is Tahir hope you’re doing well and today we’re discussing my top 10 cryptocurrency holdings in my crypto portfolio please remember that there is a lot of cryptocurrencies I’m sure are great projects that I just don’t own which I’m sure in the future all wish I had owned that I just don’t know about today and also keep this one rule of thumb in mind that is that you should never hold more than 10 percent of your network in this asset class, unfortunately, most people don’t understand why cryptocurrencies useful or white has value and I can’t answer that question unless you understand exactly how money works how we make it and who controls it but all say is whatever you do don’t Google the creature from Jekyll island now before leaving your thoughts
And comments please understand that some of the coins I have in my crypto portfolio I got for free as a result of chain splits now if you don’t wanna change split is I will attempt to explain it now with this bitcoin right here I’m getting I can do the trick again but it’s basically when you hold a cryptocurrency that goes through what’s called a fork there’s 2 types of force there is a soft fork and a hard fork this is a hard fork because it’s hard and this is a soft fork right here it’s almost like a software upgrade because we’re changing the molecular structure of the metal itself and we’re upgrading the software and bending the metal and that’s what that looks like that’s a soft fork hard fork creates 2 totally different types of blockchains with 2 totally different types of rulesets and that’s exactly what creates a chain split which is also kind of like a stock split except in this case it creates 2 unique coins their total value is usually the some of what the original point ones but not necessarily evenly so a $10000 coin can be split and the split can be worth $5 on one end and on the other end could still be worth 9995 this depends largely on which chain has the most proof of work now usually this happens when the cryptocurrency internally as a disagreement on how the network should be upgraded.
I like when the G.O.
separates into Goku and Geeta because they can never agree on anything balco had thrown making kind there somewhere completely irrelevant anyway when this happens like it did to Ethereum and you ended up owning it the room on the blockchain the day of the split you will end up with all the theory in classic and Ethereum almost like a special dividend that gets paid to you which you can either sell for more money you can keep in maybe once you grow for equally probable you can just watch it go down all the way to 0 in the worthless because crypto be like that sometimes though anyway that’s what a chain split is how it works and why I might have some strange crypto currencies in my portfolio that I didn’t necessarily by so let’s kick it off with number 10 on the list which is the greatest of coins does point of getting I don’t actually own any does point but it’s been blowing up on tick tock and knowing the internet that’s gonna be the coin that wins in the end thanks a lot Jim Z.
You young whipper snappers no kidding I still don’t own any does going but if you like means those corn is the way to go coming in at number 9 is bitcoin gold or BTG you can think of BTG kinda like bitcoin had an unfortunate smelting accident no it’s 1 of the 4 X.or 1 of the chain splits off of big coins and what they did was they changed the original mining algorithm from shock to 56 which is ASIC based which is argued that it’s controlled by large corporations which has in turn made bitcoin more centralized therefore they changed it to apple hash which is more of a graphics processor based mining algorithm that means that people like you and I normal people can access it and mine is a lot easier also I realize that that made any sense to you so just think of BTG bitcoin gold kind of like bitcoin just a lot easier to mine and number 8 is like calling now bitcoin is digital gold than light point his digital silver now unlike big point it doesn’t use the shot 256 cryptographic algorithm instead it uses something called script which is supposed to be simpler also unlike bitcoin which has a maximum supply of coins of 20 1 light coin has maxim supply.84 you can do what’s called confirming a transaction 4 times faster than bitcoin which means it’s a lot easier and more practical to use as a real-world currency because a lot more people can use it quicker coming in at number 7 is flash 0 yard – dash combines the words digital plus cash to make – smart now it’s got a lot of cool clever features about it that I really like master nodes.
And democratic voting processes but the coolest part about – to me is a flaw of bitcoin which big coin does not have this feature and – keeps 10 percent of its mining profits towards its own network which means it can basically find its own upgrades and its own operations and become self-sufficient that means it’s protected from being bought out by external corporate interests because the last thing you want when creating a digital world currency is for somebody like JP Morgan Wells Fargo visa MasterCard to step in and be like how can I invest and then they put their dirty clothes on it and then they changed the whole thing the fact that it finds itself is a feature for me worth speculating on and coming in at number 6 is ripple now ripple probably has one of the most convoluted stories in my entire portfolio so I’m not gonna get into it but basically it’s used to transfer a ton of money from one bank to another bank instantaneously for basically free and it’s used mostly by the banks if you know anything about the derivatives market which I don’t then this would be a huge use of the ripple network but that has a lot of cavea it’s not gonna get into them today my investment with ripple is kind of like a hedge against a hedge if the current banking system wins this race of global currency domination coming in at number 5 is a really interesting point and it’s called iota not unlike the rest of the crypto space iota does not use the blockchain instead it uses something called the tangle not to be confused with tangled very important distinction but the cool thing about the tangle is that when we get.
Wanton computing if that ever happens in our lifetime the shot to 56 cryptographic algorithm that powers Bitcoin would break and the big point would just disintegrate and stop existing in the case of the tangle in iota we would just still continue functioning justice fine the downside to this though is that right now I.bitcoin
Ota is highly centralized by its creators and because it is so technologically convoluted and advanced with all of the internet of things and machine to machine economy it has a lot of attack vectors so I would say to all the cryptocurrencies in my portfolio I would say this 1 has the least chance of success but if it happens would be super cool and because of its out of the box thinking I still have some money and coming in at number 4 its bid coins to Toshi vision or B.S.
V.all the chains and forks from big coin this 1 is probably my least favorite because the success of this coin is sold largely dependent on the identity of Satoshi Nakamoto and who he is which is being claimed by a particular individual which I will mention because it’s high school drama that I don’t follow and I’ve just kept that in my portfolio after the fourth because you never know but I got them for free and
I never actually bought any number 3 is a very big 1 and that is bitcoin cash bitcoin cash was born from a dispute where it forked off of the original chain and the 2 powerful factions within bitcoin disagreed with each other about what bitcoin was meant to be was bitcoin meant to be a new paradigm that changed the world by being the new world reserve currency that all of us could use or maybe it was meant to be a digital gold a store of value and maybe something like a pay pal 3.0 but they each have their own scaling solutions where the original bitcoin BTC once the scale off-chain on a separate layer and bitcoin cash once the scale on a layer by increasing the block size also I realize that probably none of that made any sense but I really don’t know which 1 is better and maybe in a few years we will find out what I do know is that I own both coming in at number 2 is the.O.G.heavy hitter bitcoin I bought some back in 2014 for $600 per coin and I sold it for a loss 2 years later because I’m stupid and I will never underestimate the power of the honey badger ever again but at this point, bitcoin is sort of like a religion there is always going to be somebody left to buy big point but the truth is in the next 5 to 10 years from now bitcoin will probably be the best-performing asset in the world better than real estate better than stocks and in 5 to 10 years from now bitcoin will be worth closer to $1 or $0 but probably nothing in between and that number one is, of course, a theory I’m Therion is awesome I’ve always been a big fan of Ethereum but I’ve only started owning some until very recently.
I bought some at $200 but like $25000 worth and it’s really paid off but that’s not really the point because I think the smartest developers are working on Ethereum on things like dapps or decentralized apps on Dallas decentralized autonomous organizations which are basically companies that have no seals or management it just kind of exist and they do things kind of like the internet the order all these crypto currencies was ranked in terms of leased to most in terms of dollar amounts of bitcoin gold is when I have the least amount of money and it is what I have the most amount of money and my number to my Ethereum and bitcoin are within a couple $0 of each other so they’re very close the total value of my entire portfolio is $66454.33 but it fluctuates a couple $0 here and there and I’ve seen my portfolio go as low as $12000 and I’ve seen it go as high as $111000 so crypto currencies tell me anything it’s taught me exactly how money works who makes it who controls it and it’s telling me the emotional strength to handle any ups and downs and volatility in the stock market so the next time I see my dividend stock portfolio go up and down a couple $0 it doesn’t mean anything to me I’m already scarred for life.
And I’ve built up an immunity and that’s the other most important thing that I’ve learned about crypto currency the end game which isn’t a whole bitcoin and then sell it for $1 like some people have which is great the point the point is to hold on to it until it becomes the new world standard and bitcoin or something like it will eventually become that much like we went from gold to cash from cash to credit cards credit cards to digital analog digital to cryptocurrency even though crypto and digital are very similar the point of crypto is to give control back to the people rather than giving up that control to the government the corporation and the banks the downside though to this entire revolution is that people want to steal this money in fact the other day we had 336 bitcoins stolen from an exchange it’s not because the blockchain itself was hacked but instead it’s because the exchange was hacked by the private keys were stolen with a wallet was stolen or negligence of an employee just like what happened to Michael Turpin who had $24 stolen as a result of a sim swap scam we’re a bunch of kids called 18 T.
pretending to be Michael Turpin they got his sim card plug it into their phone and they were able to log in all this crypto accounts and they stole that money of course Michael suit 18 T.
for $224 and one which is insane the human in me is like wow I’m glad he won the dividend investor unease like brawl investor in 18 T.
And that’s going to hurt my dividends so to protect yourself from scams and thefts if you want to start investing there are 2 rules that you have to follow and the first one is if you have to have faith 2-factor authentication enabled on your phone call your phone company and tell them to never send you or ship you a replacement sim card unless you’re there to request in person and make sure to record that phone call so you have evidence in case you also get an employee who didn’t follow through the second rule of thumb it is not your keys, not your crypto he who wields the key is.The G.I don’t know that means but basically if you don’t know that long string of numbers technically you don’t control your cryptocurrency best example of this is Robin Hood even though theoretically you can trade cryptocurrency buying and selling Robin Hood technically you don’t actually only your bitcoin and crypto on Robin Hood it’s on their wallets and their exchange and
if you want to move your cryptocurrency off of Robin Hood and put it into another exchange or another wallet you cannot do that as of right now even though on their website it says they want to include this feature in the future that’s been the case for a while now and they still haven’t changed it for now on Robin Hood you do not control your crypto and when this becomes really important is when that chain split happens like I explained in the beginning of the video because you are over to both of these coins but if you hold your money in robin hood’s wallet they may withhold your forked coins indefinitely for a number of reasons of course because the internet Robin Hood to probably get eaten alive I would probably never happen because they’re reputable but a different company that cares less about protecting their reputation might disagree and that’s another reason why you should consider it because if you want to protect your cryptocurrency you need to get yourself one of these this is a hardware wallet or also known as cold storage which will hold most of your crypto needs on this thing somebody burns it drowns it crushes it will still be able to access your crypto currency if you remember or wrote down your key phrases which are included in this which is almost impossible to hack it’s possible but it’s highly highly improbable especially.
If you hide it somewhere like in your palm.Please do this once you reach $1000 worth of cryptocurrency again like a cell you want a specific one there’s a ton of great ones out there but whatever you do don’t keep a substantial amount of money on the exchanges because that that’s where it gets stolen whichever crypto wins in this crazy race we all win because the power of money is given back to us the people instead of the government and the banks if I disappear after this video be very sauce and of course if you haven’t done so already want to start investing please make an account which we both will get one free stock valued up to $250 fund that account $100 don’t forget to do that get another free stock shot up to $1400 your third free stock from Robinhood he also follow me on Instagram my poster from time to time I may or may not leave a link to my discord which I just made it’s really cool love you all thank you so much for watching this video I will see you back here on Monday and Friday enjoy the rest of your week bye bye.You have Successfully Subscribed!
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