One of my long-time listeners (the one who recommended I interview He Shuhan – 52 Traders episode 14), Lynley, has a lot to say when it comes to Cryptocurrency trading, Bitcoin and the block chain as a whole.
So, I thought… Why not get him on the show to get an impartial view from someone who’s been living in the crypto forums and connecting with the crypto influencer’s for the past couple of years.
Today, Lynley’s going to share with you his strong views on Crypto. He’ll educate us on the most important things we should know about the Crypto market, how it really works, and why you should consider it as a serious trading alternative to stocks and Forex.
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- [11:57] In the grand scheme of everything that you own, you don’t actually own it because it can be taken away and be removed from you.
- [15:21] If we look at our financial system, it is just a ledger of inputs and outputs. The only thing they can’t control is cash.
- [18:10] Every innocent person has to go through the process to prove that they’re not the money launderer, it makes zero sense in my mind.
- [22:52] The problem with people in Bitcoin is that they’re only able to see the hyper side of it, they’re not understanding that this is actually an illusion to an economic situation, and it is an economic model.
- [25:13] One of the things Bitcoin was created to do was not necessarily to be able to pay coffee, an apple, and stuff every day. It was really to pay settlements at a central bank level.
- [27:01] In the Forex market, something is manipulated. You don’t get to see the accounts of all the major banks.
- [27:08] In the Bitcoin world, you can see all the major wallets. They are tracked all day long, every day.
- [28:04] Bitcoin wasn’t created to equalize wealth in the world.
- [31:07] If more people get involved in Crypto, it will become more stable. It will become more usable.
- [32:50] I believe that alt-coins are either a distraction or a test crown for what can ultimately come back onto Bitcoin.
- [33:23] If you are able to be sued for something, then you are not decentralized.
- [37:02] If the entire monetary system gets put into Bitcoin and if Satoshi becomes one cent, Bitcoin becomes a hundred million dollars.
- [45:26] If you spent enough time in Forex, you’re gonna be a lot more comfortable in trading Crypto.
- [46:29] To be fair I think Cryptos made me a better Forex trader.
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