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  Cryptos: The Future of Money  
  James Altucher on 2017-12-01 22:47:32.0

This post Cryptos: The Future of Money appeared first on Daily Reckoning.

I'm not exaggerating when I say cryptocurrencies are the biggest innovation since the internet. We're on the ground floor of an enormous trend that's going to change the world.

Cryptocurrencies solve trillions of dollars' worth of problems, which is why they will be worth trillions of dollars one day.

Consider the potential:

There is currently $200 trillion in cash, money and precious metals used as currencies in the world. Meanwhile, there's only $200 billion in cryptocurrencies. Cryptocurrencies are eventually replacing traditional currencies.

So that $200 billion will eventually rise to the level of currencies. And probably sooner than we can imagine.

Fortunes have been made in cryptocurrencies and many more will be made in the future. But just like the Internet boom in the 90s, there will be a lot of scams. Let me say it right now: 95% of cryptocurrencies are scams.

But with the total number of cryptocurrencies now exceeding 1,000, that means at least 50 legitimate cryptos out there right now. 50 is a lot more than one or two or three.

My job is to research, study, and use my connections to avoid the scams. I'm dedicated to finding the tiny portion of cryptocurrencies, that remaining 5% that will turn that $200 billion into $200 trillion.

I hate to use big numbers like that. But those numbers are facts.

If, and only if you avoid the scams, you'll find the cryptocurrencies that actually solve major problems of prior currencies. Also, avoiding the scams lets you closely follow closely the people who are doing the research and have the credibility in this space.

Yes, cryptocurrencies are in a major bubble. But don't let that word scare you away. Crypto opportunities are NEVER going away, and generational wealth WILL be made.

I'm telling you the opportunity here is immense. Think, ?internet 1994? ? a lot of people got very rich before that bubble burst.'

One day soon, ?B.C.? will stand for ?before crypto? and ?A.C.? will stand for ?after crypto.?

Right now we're living in early years of ?A.C.?

It's time to get ready? the world is about to change because cryptos are the natural evolution of money.

First it was the land you owned and the resources you developed on that land (wheat, grains, etc.).

Then it was metals. Gold, silver, etc. You traveled with it by fashioning it into jewelry. But too much gold makes it harder to transport.

Then came paper currency. Backed first by gold it's now backed by faith in God (?in God we trust?) or government.

Electronic currency followed paper. It's easily transportable. But transaction fees are all over the system. And it affords zero privacy.

Now we have cryptocurrencies.

They're easily transportable, have zero transaction fees, there's no human intervention between payer and payee, and it offers anonymity.

Money evolves like anything else and the natural evolution of money is always as a store of value that is easier to move, more secure and more private.

How can you transact across a large geographic area with fewer fees, fewer costs, less chance for human error, higher security and privacy?

Cryptocurrencies. They're the natural evolution of money. The evolution of money and the evolution of every industry strongly imply that cryptocurrencies will be in our future.

Now, it's true that uncertainty breeds volatility. Cryptocurrencies are going to be volatile for a while.

But why does volatility create opportunity?

Because it's rare that intrinsic value changes much day to day. If you can identify the cryptocurrencies that are legitimate (have strong intrinsic value), then you can make a lot of money playing off the volatile situation in crypto.

And that's where I come in?

I want to help the many people who have been scammed by all sorts of schemes duping people into buying or trading ?bad? crypto.

My solution is simple.

Research, diversification and building a network of intelligence allows me to help you understand all the relevant issues and make smart decisions.

I'm here to sift through the duds and bad info to give you real moneymaking opportunities before, while and after the bubble bursts.

On that note, I'm pleased to introduce Kamal Ravikant. Kamal and I have invested in many projects together successfully.

We've worked together on companies, books, investments, and between the two of us I have confidence there is no better network of contacts and expertise that can be brought to the table.

We are both investors, coders, entrepreneurs, writers, and effective networkers in the technology and crypto sector.

Here are four principles Kamal uses to approach cryptocurrency investments. In both of our experiences, these are the best ways to get high multiples on capital. Kamal:

1. Always have an unfair advantage. Otherwise, you're the sucker. This is why I never even play a five-cent slot machine in Las Vegas the house has the unfair advantage, not me. So, in cryptocurrency, my unfair advantage is my network of insiders, my ability to talk with founders (having been one, being pitched by and invested in many) and separate fact from fiction, my experience, and often, to use my connections to find out about the best ones and invest in them early before the average investor knows they even exist.

2. Value invest. I'm a big fan of Benjamin Graham and Warren Buffett. They find assets of value, buy them below market price and then hold. With cryptocurrency, the ones that survive in the long-term will be worth such stupid levels of money, it will make today look cheap. We'll have those in our portfolio.

3. Biggest Markets. An asset that wins 10% of a small market doesn't interest me. All these investments are high risk, so I only focus on the ones with the highest reward potential. An asset that wins just 1% of a multi-trillion dollar market, well, sign me up.

4. Discipline. This is my best quality as an investor. Never sell or buy on emotion. That's for amateurs and keeps Wall Street in business. I'm in this for the long term, and without discipline, you cannot survive investing especially in a new asset class like cryptocurrencies where every single day is a roller coaster ride.

We believe these are the keys to approaching cryptocurrencies.

There's no avoiding reality. The evolution of money and the evolution of every industry strongly imply that cryptocurrencies will be in our future. How we get from ?here? to ?there? will be paved with many lucrative opportunities (to learn more about these and how you can make a fortune in this space, go here).

I'm here to sift through the duds and bad info to provide real moneymaking opportunities before, while and after the bubble bursts. Many were burned with similar bubbles like the dot-com boom type in the '90s.

My goal is to make sure people don't get burned again.


James Altucher
for The Daily Reckoning

The post Cryptos: The Future of Money appeared first on Daily Reckoning.

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