Advice for Crypto Newcomers – Interviewing Crypto, Bitcoin, and Blockchain Enthusiasts (2/3)


Hey.
Would you guys mind answering
a couple questions on camera?
You hear horror stories
about somebody selling their house or car
buying crypto.
Don’t start out like that.
I highly advise you
to read The Bitcoin Standard
or look into Andreas Antonopoulos.
Follow some of
the thought leaders
in the space.
You know there’s Trace Mayer, Tone Vays,
a lot of people that you can sort of go to,
for information
if you can’t really do the
the due diligence yourself.
We have credible people in this space.
Seek those people out.
And do some of your own research
on top of that,
If it’s out of your league,
highly recommend
look for credible people.
And just dive down the rabbit hole.
Buy some Bitcoin.
Use it.
Lose it.
Figure out where
it went wrong.
It’s like riding a bicycle.
You can’t read a book
on how to ride a bike.
You strap the helmet on.
And you give
it your best shot.
Yeah.
I mean you’ve probably heard this before
but you’ve just got to learn
as much as you can.
I remember just spending
my entire days reading
after I quit my old job,
really doing no work
and just reading.
And then I like-
“Oh, what can I do with my day?”
You know it paid off.
(Interesting.)
(I’m) somewhat knowledgeable.
I actually started writing.
That was my first gig
besides like speculation.
I started writing for a few
crypto exchanges in Canada,
where I’m from.
So that was nice. I read, distill
the information, write, get paid a little bit.
And yea.
So, when you’re looking at things,
looking at projects,
try to figure out which one you think
actually works and functions as digital cash.
Um. It’s pretty incredible.
-Say that again.
It’s pretty incredible.
It’s one of those things that-
If you look back at the technology
the last 20 years,
we’re on the verge of something
that’s gonna have a mass change,
across technology, which then in turn
affects just everyday people.
So we’re kind of on that
tipping point in the moment.
So a good time to get involved.
Anyone who’s new to the space,
I would really encourage them
to question what their interest
in the technology is.
A lot of people are interested in the
markets and they want to trade
and they
want to, you know, get on
all the exchanges
and they want to do the
secondary market stuff.
But I’d really encourage
people to research what the companies do,
how they add value,
what their projects are,
and really understand the technology
and how it can be implemented in places
like developing economies,
how it can add value to existing businesses,
and what you can actually do with it,
and not just trading and speculating
and playing the markets,
like the actual technology.
Because it truly more valuable.
But it’s really clouded.
A lot of people they only see,
‘oh I can you know cash out
and buy a lambo’ or
‘I can pump and dump these tokens’,
whatever the case may be.
But there’s a lot more to the
technology
than just the markets.
There’s a lot more to it than just trading.
And so I just encourage people
to really dig in.
Understand what’s going on.
And the number one place,
the best place I can advise
to anyone to start,
would be with the Bitcoin white paper.
It’s only eight pages long.
And you can understand blockchain
with that one document.
It will teach you everything
you need to know.
It is vanilla blockchain in its most simple form.
So if you understand that,
then you can build upon that foundation
and expand your understanding
of the technology.
You hear horror stories about somebody
selling their house or car buying crypto.
Don’t start out like that.
Just, you know
Don’t buy a pack of cigarettes.
Or you know,
don’t buy a bottle of vodka
for the night,
or, you know it could be anything.
Just spend it on crypto instead.
See what it does.
And then play with it.
Once you’re more comfortable,
maybe a few months down the road,
then put more money into it.
Just get into it.
Have fun with it.
If you can’t have fun,
why are you doing it anyway.
I think you should keep in mind
that verify, not just trust.
Because this is why I learn-
what I learned from
Satoshi’s white paper.
And this is why blockchain is different
from other technologies.
I would say now they are very lucky.
So when I started back in 2013,
there were four academic papers,
very few blog posts, nothing else.
The way I learned was I sat in chat rooms.
And I just spoke with the core devs
there on Bitcoin Wizards, Bitcoin Dev.
Where now they’re so lucky
to have this huge community.
As you can see here at Consenus,
there’s like 4000 people or more.
So I would just tell them
to get their hands dirty.
If they’re a programmer, open up
Remix. Download some Bitcoin ____ maybe.
And just start programming,
getting your hands dirty
and building something.
If you’re into some other field
like human-computer interaction
or UX. We need a lot more designers.
You know
go up and talk to programmers
and help build usable wallets so
people can actually use it in everyday.
And if you just
want to market it,
just come and tell people
what Bitcoin is about
and what cryptocurrencies are about.
I’m from Korea.
And a lot of people based in Korea
are really into crypto.
But what they are focusing on is about
in the perspective of trading
and as an investment.
But before you invest or put any
of your money into crypto,
you better just get to know
about what this is and
how this works.
Um.
Keep your principles.
Keep your principles and
have a good look at why you’re doing it.
Is it for the money
or for the tech,
or maybe both.
It’s not a value judgment but
check your principles.
I just say don’t take too much risk
that you can’t afford.
And also don’t believe what you read.
Don’t believe anything
that you read online because –
Nothing!
– No one is truly an expert in this space.
And a lot of people try to
act like they are.
And you can get burned pretty badly
if you believe what you read online.
I cosign that.
I agree with that, definitely.
I think in this space,
there’s a lot of ra______
and a lot of scam and so on.
So I will ask you to be careful,
especially if you are, you know,
looking into projects.
Really dig into their technology
to understand if they are real or not.
I would definitely encourage people to
educate themselves,
because the biggest problem with our
banking system is
we’re reliant on our banking system.
And when you’re involved in cryptocurrency
you become your own banker.
So you now how to be responsible
for yourself,
which some people don’t like
to be responsible for themselves.
But I think it’s time people
educate themselves and become
more responsible individuals.
Learning what a private key is.
Learning what a wallet is vs an exchange.
horror stories Oh somebody’s selling
their house a car buying
don’t start out like I just you know
like you
don’t buy a pack of cigarette or don’t
buy it for the night work you know it
could be anything just spend it on
crypto instead see what it does play
with it once you’re more comfortable
have fun with it began have fun Marty do
it in any way
Come and join the ride.

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