* Please click this link to download a free .pdf version of this article:Choosing the Right Cryptos
Your Crypto choices wield POWER! The choices you make today will help determine all of our futures. Your smart choices will hopefully help raise the level of human consciousness, or alternatively, your decisions will impede our progress! So let’s make wise choices together.
Today’s coin and token market reminds me very strongly of the tech run up into late 1999. At that time there were many startups using the new technologies of the internet. Then came the crash! More than 90% of those companies WENT AWAY.
That is going to happen in this space eventually!
There is a ton of great innovation occurring, but most crypto start-ups simply will not make it, they will be flashes in the pan. So do not get too heavily invested in them, my advice is to follow Nate’s Three Simple Crypto Rules:
Rule #1 – Choose to Support Humanity.
Rule #2 – Know Your Math!
Rule #3 – Be Responsible!
Rule #1 – Choose to Support Humanity.
Sounds easy, but even I get caught up in the excitement and lose focus on the ball. I’d say that my investment in Ripple was one – sure, it was profitable, but I was unwittingly supporting the wrong cause! And I did so before knowing that the founder kept so many coins that over the course of just 3 days he became one of the world’s richest persons. We don’t have to support that, there are choices that don’t so strongly favor one person – yes, a founder should be rewarded, but only commensurate with society’s need. I suspect that he will be cashing out soon, because as people become aware they won’t support that type of nonsense.
What makes that the wrong investment for humanity? Ripple, and those coins/tokens like it, are working their hardest to integrate themselves into the existing banking world. Their founders see this as the road to quick wealth – getting in bed with the banks and credit card companies.
But think about it… What will having crypto technology working behind current credit cards change? NOT A THING THAT MATTERS! Credit cards will still be bank backed debt, only the technology of the transaction will change. Who cares?
So who should we back as an alternative? We should back companies like LEND who will be lending crypto to borrowers at low rates without the current system’s controlling ways.
We should support Cryptos like Tron (TRX) who will turn narrative biased Google, Facebook, and Apple upside down. Tron is working to move all creative digital work, like videos, documents, and music, onto a trusted ledger system where there are no middle-men controlling what gets published and then taking a usurious cut from those who actually produce the work (see how this revolution is going to change the old power base?).
Why not support companies like OmiseGo (OMG) who are developing Plasma technology that will lead to direct peer to peer token trades, even for non-like tokens and coins? Is that not the pursuit of Freedom? I think it is! And I support it by owning and holding OMG, and I’ve already been financially rewarded! That’s how this works.
Be aware that Plasma technology used by retailers will mean that you’ll be able to use any token or coin to purchase anything you want! You will not need a credit card or bank money! If the retailer wants, they can then use that technology to instantly convert to whatever they choose.
There is already credit Crypto! If you choose to go in debt to purchase things and services, then yes, you are able to borrow in Crypto! But again, you will have a choice in who to support with your business, and there will be no middle-men!
The areas that will be changed by this revolution are way more widespread than most currently think. It will affect every person and every industry. PLEASE CHOOSE TO SUPPORT EACH OTHER, choose to support overall humanity, and not greedy sociopaths. Say NO to bank and government sponsored Cryptos!
The great thing is that YOU NOW HAVE A CHOICE! It used to be that you could only choose to use central banker debt money. Now you can choose, so choose wisely. You can earn, spend, and move “money” around the globe almost instantly and at little cost.
Q: Why use banker or government money at all?
A: I will personally choose not to whenever I can, and will only use their “money” very temporarily when I have to. I will avoid owning things that are priced and sold only in dollars – as many countries around the world are already doing as they move away from the failing Dollar.
So what if some sociopath creates his own Crypto and uses it unwisely or in a damaging manner?
You have a choice, use something else! See how freedom works? Freedom places a check and balance on bad actors because you are free to use some other form of “money.” Right now the government and central controllers think differently, they still think they have a monopoly on “money.” But they have no choice in this transition, no say. Yes, they will resist, but that resistance is already checkmated by already existing technology that they cannot stop – their controlling ways have already failed and aren’t coming back.
What happens if your government “outlaws” the use of cryptocurrencies or exchanges?
Most exchanges are going to go away regardless, due to Plasma technology. This is the same technology that will trump governments and any “centralized” attempt to stop this revolution. Governments and central banks cannot stop it, nor can they control it. Most people will simply choose to ignore such dictates as they go against the freedom seeking will of humanity. Laws that do not conform to math, nature, and human nature always fail – it is those unnatural “laws” that are truly illegal.
No, they will not shut off the internet – that will also lead to their loss of control. Either way, they have already lost control, humanity wins as power and control rightly returns to the people.
Choosing the right Cryptos should increase freedom and thus true security will follow. Choosing the right Cryptos will lift our consciousness and will help bring reality forward. Please know WHO you are supporting, and choose wisely! By choosing to support those who support freedom and decentralization, you will be choosing to support humanity!
Rule #2 – Know Your Math!
It’s simple. Since you now have a choice, do you choose to support a coin or token that has endless supply, or one that is strictly limited in supply?
I hope the answer is obvious. Always know about the supply and the timing of the issuance of new coins and tokens – also know how many the founders are holding. If you don’t know, don’t own them, you have a choice!
For example – if you choose to put your earned dollars into a crypto, would you rather have one that is strictly limited to 21 Million coins, or one limited to 10 Billion? Again, that one should be easy to answer.
At this time, there will only ever be just one Bitcoin for every 500 people on the planet! That scarcity puts the math on your side. As debt based “monies” around the globe are created in unlimited quantity, they flow into Bitcoin, thus pushing the value of Bitcoin higher and higher. Its price is not the bubble – it is simply a mirror to the true bubble that is the Dollar. Unlike tulips, and even unlike gold, its math is strictly limited, so why not put the math on your side?
Bitcoin is a store of value coin, not a transactional coin, those who complain about this simply aren’t aware that they now have a choice in money features.
Q: How about coins that are not limited in supply, like Ethereum, how can they be going up in value?
A: Transactional coins do have value! If they are in high demand, like ETH, then value rises. But can they ever be as valuable as say Bitcoin? I think not, so be careful. ETH may be the backbone of new tokens today, but will it be in the future? I bet not, I’ll bet the technology changes.
Do not invest in coins or tokens that are not “mined” into existence over time. Any ICO that floods the market with massive upfront quantity should be avoided holding for any length of time.
When making a choice of Cryptos, please choose to put the math on your side. Only touch momentarily those that do not.
Rule #3 – Be Responsible!
Some Cryptos will be a store of value, while others will be primarily transactional. You now have a choice and that is wonderful! But with that freedom comes responsibility to learn it, and to wield it wisely, otherwise we all could lose the freedom humanity deserves.
Going forward, you will be 100% in charge and responsible for your own money actions! Isn’t that appropriate? It is, it is why all centralized concepts, like socialism, and all forms of centralized money eventually fail. They go against human nature. Responsible and productive people will not tolerate forcefully donating their productive efforts to those who are not! If someone not working earns as much as someone who is working, then those who would work won’t! And that lack of motivation kills the system, as it has done over and over throughout history.
So, we must all educate ourselves and pay attention as changes are occurring every single day in this space. Yes, we can all be taken advantage of! And we will be unless we work hard to become aware.
Know what safe storage is and what it is not. Keep as much off of exchanges as possible. Know that when you are trading on an exchange, you are not creating an entry in any coin’s ledger, you are in fact not trading any actual coins or tokens at all! The exchange may or may not have an appropriate number of coins backing the trades that occur on their site!
Take possession of actual coins and tokens when you can, and store them as safely as you can – this is an entire lesson in and of itself, one that everybody must learn (this is what the Mt. Gox debacle was all about – the exchange did not have enough actual tokens to cash out those with deposits).
TRIPLE CHECK whenever you are sending Crypto anyplace or to anyone. You can lose it if you’re not careful – the most common way is to send it to a non-compatible wallet that doesn’t recognize what you just did.
Choose low cost transfers and trades when possible. Transaction costs, even though they are substantially less, can still eat away your money over many transactions.
A Word to the Doubters of the Crypto Revolution:
I’ll wrap this up with one important piece of knowledge for the doubters of this technology…
When you earn Crypto directly, or if you convert some other money into Crypto, and if the supply of that Crypto is truly fixed, then when you take possession of that coin or token, you are taking it from someone else – even if it was a private person or group of people who created it (and even if the source code came from the CIA, LOL).
Think about that, and you will see the revolution. Because that’s not how unlimited supply debt money works at all. With the current mainstream system, all money is borrowed into existence becoming a debt to the borrower and same with our national debt which becomes a burden on us all. When you or our nation gets Dollars, they actually do not originate from someone else, they are created in endless supply by PRIVATE INDIVIDUALS, AKA “central bankers.” They simply turn on their computers and print more. They can then use that money to buy unnatural laws that favor them, and subvert the checks and balances built into our Constitution (which needed better checks and balances, but that need will be replaced by this technology).
Let’s use Bitcoin as an example… for you to hold one, it must come from someone else. The only way they can replace it is to produce something or do something to earn it back. They can’t turn on their computer and print more (yes, miners somewhat do this, but it isn’t free or easy and must be done for the system to work). So, every Bitcoin you own – that you earned through your productive life energy – takes life force, power, and control from someone else!
And isn’t that the way it should work? This is THE KEY DIFFERENCE and why this revolution returns the power into the hands of the people.