Making Millions By Investing in Bitcoin, Ethereum and Altcoins (Hacking Investing)

– Hey, what up, world? It’s your boy Ian. Welcome to Hacking the System. Show where I teach you how to make six figures in your 20s, yeah your 20s. Who said making six figures has to wait until your old and grumpy? In today’s show, we’re gonna talk about something that’s about to blow up, and I mean blow up. We’re here on the diamond field playing baseball, well, not really, but today’s show, I’m gonna show you you can possibly, possibly, hit a home-run investing in something that’s on the up and up. Today’s show will cover Bitcoin, Ethereum and cryptocurrencies and how they could possibly make you a millionaire. In your 20s? Let’s get into it. (hip hop music) Hey, what up, world. It’s your boy, the made man. Welcome to Hacking the System. The show where I teach you how to make six figures by any means necessary while you’re still young. Create the lifestyle of your dreams and hustle to greatness. All right, so in today’s show talking about Bitcoin, Ethereum, altcoins, cryptocurrencies in general and how they could possibly make you a millionaire. I know that may seem like an exaggeration, because I’m definitely not a millionaire, but the potential is there.

So if the potential is there and you’re out there trying to chase the money like us, right? We gotta go break it down and show how we could possibly do it. So let’s start things off with a story. All right, there was this guy who was doing his thesis in graduate school on cryptography. So he got intrigued by Bitcoin and blockchains in general. All right, for those who don’t know, blockchain is the technology underlying Bitcoin and that makes it work. All right, it basically leverages cryptography. So he’d gotten really, really intrigued with this. And he just tossed his money on the side and bought some Bitcoin. He bought $27 wort of Bitcoin. That was sometime back, right. Fast forward three years later, three years later, he completely forgot about his investment. He forgot about his $27 investment. So three years later, Bitcoin is basically in the news, it’s blowing up. It’s trending, it’s peaking. He’s like, yo, I bought some Bitcoin a while back, let me check up on it. All right, so he goes to check his Bitcoin wallet to see how much money he has and in three years, in three years, it went from being worth $27 to $886,000.

Yeah, almost $1 million in three years. His $27 because Bitcoin went from being worth pennies on the dollar to right now being worth over $1,200 for one Bitcoin. All right, so Bitcoin is blowing up, baby. All right, so don’t miss this boat. If you missed it, I’ll show how you can definitely leverage it and other cryptocurrencies. All right, so why is there lots and lots of hype around Bitcoin, Ethereum, and cryptocurrencies in general? Well, Bitcoin was the best performing currency in 2016.

It surpassed gold and any other body out there like dollar, yen, whatever, right? It was the best performing currency. Just think about that for a second. How many currencies do we have out there in the world? The world is humongous, all right? But Bitcoin was the best performing currency in 2016. It went up 120% in 2016. Basically meaning that it more than doubled the money if you had bought Bitcoin in 2016. Then on the other hand, Ethereum is blowing up as well. Actually, blowing up a lot more than Bitcoin itself. I got involved in this whole cryptocurrency game sometime around November, December last year in 2016. And I was like, you know what, this seems kind of trendy ’cause my friend told me about it. So I tossed some money at it. And I recall that Ethereum at that point around November, December was only worth $10.

Fast forward to February, March, Ethereum is at $40. So it quadrupled in value in about three months. All right, so my best trade to date, my best investment to date in terms of cryptocurrencies is actually Ethereum. I put in about $2,500 in it. And about three months, in basically a month or so actually ’cause last couple months have been kind of stagnating. But in basically a month, I doubled my money. From 2,500 to over $5,000. All right, so all these currencies are trending because they’re blowing up, they’re getting attention. They aren’t mainstream yet, so right there’s still definitely time to catch the gold rush. ‘Cause this right here is a gold rush, baby.

All right, so to start things off, we’ll first talk about what is Bitcoin, what is Ethereum, and what are altcoins and cryptocurrencies in general? All right, what is Bitcoin? To keep things simple, Bitcoin is a decentralized digital currency. Right, so similar to how we have cash, we have the dollar, or what have you, right, we have different currencies. The dollar, the yen, right, Bitcoin is a digital currency. But what makes it different, though is it’s decentralized. There is no central authority. There is no bank, there is no government that controls it. It’s peer to peer. So similar to how Bitcoin operates, right, if you ever download anything from Bit Torrent to way back in the day with Napster, right, Napster and the whole time with the illegal pirating craze, everything was peer to peer.

Right, because of that, there is no central point of failure when it comes to Bitcoin. All right, imagine having different people across the world being able to talk with each other and send money without having to depend on a bank, on the government, right, there is no middle man. Everything is peer to peer. You’re directly talking with the other person and making a transaction. This happens because of such technology called blockchain. This basically leverages cryptography. Meaning that it makes it so that you cannot really hack it, per se, right, so nobody can really spy on it.

It’s very, very secure, right. So me and you can make a transaction without having to go to the bank. And because of that, there is no middle man. Freeing us. Then on the other hand, we have a different currency and platform called Ethereum. Right, this is kind of the second biggest currency or platform out there. Ethereum is a decentralized distributed computing platform. What does that mean? So think of that as basically using peer to peer virtual computing.

That’s kind of the best analogy I can think of. So think of Ethereum as a platform that allows you to be applications, that allows you to build peer to peer applications. So think of build supercomputer that is decentralized, there is no central computer. Everything’s peer to to peer. So imagine everybody around the world pulling their computer powers together to make one supercomputer, one platform that you can run different applications on and these applications are called smart contracts. So what does that exactly mean? So Ethereum you could have not just currencies, right, ’cause currency for Ethereum is called Ether, but you can have smart contracts for thing such as trading coffee, for trading wheat. Anything of value between two parties and they want to transact with each other, they can doing that on this platform called Ethereum. And one of those ways is Ether, which is the currency.

All right, what are altcoins? For anything out there that’s not Bitcoin in terms of the cryptocurrency world is referred to as an altcoin. Short for alternative coins. All right so why do Bitcoin, Ethereum, and cryptocurrencies in general really matter? What makes them valuable? The first point is they’re centralized. I keep stressing that because it means that there is no central single point of failure. The government can’t come out there and control it. There is no one central authority or body that controls it. Meaning that everybody can do what they want whenever they want. It’s kind of like the wild, wild west. All right, so, which is both good and bad, right? Because good in the sense that countries out there that have oppression or different people that can seize their bank accounts don’t really have to bother with that, because Bitcoin and cryptocurrencies in general give them independence from that. Because there is no one one single point of failure, nobody can shut it down. The government can’t come in here and say, you know what, we don’t like how you’re transacting business, let’s shut this down. Perfect example is Bitcoin back in the day, back in the heyday, got popular because people were using it on a platform called Silk Road.

All right, it could transact and buy illegal goods on this platform, which is basically the Dark Web the Dark Net. They could buy illegal goods with it, and not really leave any trace, because the government couldn’t track it. So that’s how Bitcoin can I have kind of got its initial growth. But the government came and shut down the Dark Web for Silk Rroad, but it couldn’t shut down Bitcoin, because Bitcoin has no central authority. It’s peer to peer. So imagine kind of like bitron, if you take down one computer, you can’t shut down the entire network. This becomes important because you own Bitcoin. It’s not owned by the bank, your country, the government or a different authority You own it. It is yours. As a result, nobody can seize it from you unless you lose your wallet, which we won’t cover today, but, so for example, back in I think around 2013 or so, there was the whole economy bailouts, countries were collapsing, and Cypress was one of those countries. Cypress, the government Cypress, as a way to bail out the country and try to reestablish a reboost to the economy, they went after and they wanted to seize assets in people’s bank accounts.

Just think about that for a second. The government wanted to go to people’s bank accounts, take out their money and redistribute that money out there. As a way to revitalize the economy. So people got scared, man, they got really, really scared. And that’s when Bitcoin began to grow. So they took money from their bank accounts because they knew the government could come and seize those assets. And they put that almost away like an off-shore account. They used Bitcoin as a way to hide the money from the government, or store the money in, not really hide it but protect their money from the government and other third parties who would try to seize that money. Bitcoin also matters in the sense that it’s similar to gold. All right, in the sense that it’s scarce, it’s rare. All right, ’cause as opposed to fiat currencies like the dollar and all these other paper currencies that are no longer tied to the gold standard, they lose value by the minute, by the day. All right, every time you print out more fiat currency, more paper money to boost the economy, all right, it’s losing value because it’s basically almost infinite.

With Bitcoin is similar to gold in the sense that they’re only 21 million Bitcoins out there that could be ever be mined. As a result, it’s scarce, giving it value. Another selling point for Bitcoin, Ethereum, and other cryptocurrencies is that they’re global and borderless with low transaction fees. Meaning that me right here in America, I can send money to anybody around the world very, very quickly, all right, faster than sending money with other platforms like Western Union. On top of that, they have lower transaction fees. So, for example, Bitcoins could be used as a replacement for Western Union and sending money abroad to help out family members or other friends. Because the transaction fees are very, very low.

And money can be very instant. Because right now with the current banking system, it’s very hard to send like, for example, a $1 million out there across the world. It’s actually easier, a lot easier, to get on a plane with a suitcase of money and transfer that money because money usually takes about three to five business days, sometimes even longer, depending where you are. All right, with Bitcoin, it can take anywhere from 10 minutes to half an hour. All right, so it’s very, very fast to send large amounts of money, and very, very low transaction fees. All right, cause when I send money to somebody via Bitcoin, there actually is no transaction fee. There’s only a transaction fee when you try to take the money out, and that fee is very low. And one of the main ways that makes Bitcoin, cryptocurrencies and Ethereum and all such matter is they help store value. So earlier I mentioned how in Cypress, people who were afraid of the government seizing their assets were able to store the value of their money in Bitcoin.

So, for example, the same thing is happening in China right now as we speak, ’cause China is communist country. And people, Chinese are in droves in terms of the rich Chinese, they’re sending their money to Bitcoin, Ethereum, and these other cryptocurrencies as a way to store the value from either unstable currencies or from the government. So, for example, if you have a currency kind of like down in South America and Argentina, right, they’re using Bitcoin to store the value ’cause their currency fluctuates up and down to a point where they can’t really, they have no idea where their currency stands at any given point in time, ’cause it’s so volatile. So they use Bitcoin as a way to store the value. All right, so how can Bitcoin and all these other cryptocurrencies make you a millionaire? First thing I’ll say is, I’m definitely not a financial advisor. This is infotainment. Right, but I myself am actually invested in all these cryptocurrencies, right, Bitcoin, Ethereum, and some more altcoins. But in general, right, so back in 2011, if you invested $100 in Bitcoin, at this current point in time in 2017, your $100 investment would be valued at almost $400,000.

Just think about that for a second. $100 to 400 grand in basically six years. Like, imagine if you put a lot more into it. Because me right now, I have over 10 grand in it. All right, so I’m definitely playing the long game. I’m definitely going for that home run, right? I’m trying to swing outside the fence. So Bitcoin and cryptocurrencies is basically a way to speculate on the future in terms of the economy, the world economy, currencies, because right now if you get in early, you could possibly make a killing in it. And, as I mentioned earlier, reason being is other currencies out there are losing value, which is why Bitcoin was the best performing currency of last year in 2016. All right, so fiat currencies lost a lot of value in the sense that they’re no longer backed by the gold standard.

Meaning that for every $1, for example, it’s tied to one equal dollar worth of gold. ‘Cause back in the early, I think like the, in the 20th century, right? If you took your money, you could exchange that for gold in its equal form. But at this point in time, it’s no longer backed by gold. As a result, it gave the government of America and other countries the ability to print as much money as they like. Print as much paper money as they like, ’cause it was no longer tied to gold. So they could just go out there and print a $1 billion and not have $1 billion worth of gold to back that up. As a result, the value decreased. And so, in general, cryptocurrencies like Bitcoin and Ethereum are getting lots and lots of attention because big companies now are paying attention to them. They’re backing them. So, for example, my employer, IBM is going in on blockchain, the technology, the underlying technology that makes Bitcoin and all these other cryptocurrencies possible. They started a high pillager foundation, which is basically a blockchain foundation.

And then recently this year, JP Morgan and Microsoft founded their own Ethereum foundation. That’s why Ethereum blew up in the last three months or so and went up from $10 to $40, because big companies are paying attention and giving this that stamp of approval. So anybody out there who’s kind of hesitant to take a look at these cryptocurrencies or check them out, if Microsoft, IBM, JP Morgan are willing to take a gamble on these currencies, maybe you should too as well. Right, maybe you should also take a chance, a gamble, a fly on them. Because this could be your million-dollar move. Another point I’ll make is, Bitcoin could be a possible replacement for gold. Yeah, gold. ‘Cause recently, Bitcoin is now worth, one Bitcoin is worth more than one ounce of gold. One ounce of gold is worth, is worth less than one Bitcoin. So Bitcoin could be a possible replacement to store value as opposed to storing it in gold. So if you have a bunch of money, right, and you want to store it in something else besides gold, silver, you could store it in Bitcoin.

Which is what the the Chinese are doing, and other people in unstable economies with unstable currencies, they’re using these cryptocurrencies as way to store value. All right, so you’re saying, hey, Ian, yeah got me hyped, super hyped, I’m definitely down to invest some money on cryptocurrencies like Bitcoin, Ethereum, what have you, where do I start? How do I start? So the first step to start, especially if you’re a beginner, is a site called Coin Base. This makes it very, very easy for anybody out there to buy and sell cryptocurrencies. This was meant for beginners. All right, so if you go to coinbase.com and create an account, you can verify your account, tie it up, link it up to your bank account and buy money, and buy crypto, and buy basically Bitcoin, Ethereum, Litecoin. Those are the three currencies they have on there. The three cryptocurrencies they have. You can purchase them either with your bank, with your debit card and tie it to your bank account, or a credit card even.

All right, but one thing about Coin Base, though, is it has higher transaction fees than normal Bitcoin or cryptocurrency sites ’cause it’s meant for newbies. But with that being said, though, it’s very, very user friendly. It’s how I began my journey in cryptocurrencies, and it’s a great place to start. Now, one thing to note is if you actually go on my website and sign up using my link, right, you and I will both get $10 worth of Bitcoin cryptocurrencies in terms of Bitcoin, Litecoin, what have you, to invest, if you invest $100.

All right, so let me say that again. So if you want to start and you want to put $100 into it, Coin Base as a way to kind of entice you to learn the system and get more involved, they’ll give you $10 as well. But to do that, you have to sign up using my affiliate link, all right. So if you sign up using my link, my affiliate link, you and I both get $10.

What a deal, right? All right, so let’s say you aren’t really a beginner, and maybe you’ve done investing before and you don’t want something that’s super easy. Maybe you want to day trade, for example. All right, two good platforms for day trading are GDAX, which is an exchange owned by Coin Base. It’s kind of for more advanced people. And also Gemini. These two are basically exchanges that let you day trade cryptocurrencies. And mainly just the popular ones like Bitcoin, Ethereum, and Litecoin. All right, so if you want to day trade, you can use those platforms. They’re better than Coin Base in the sense that you have a lot more control. You can do things such as stop limit orders. They also have fewer transaction fees. Much, much, lower transaction fees. But it’s kind of more complex. You have to have some kind of experience investing.

So I would recommends using something like Coin Base to start. Using that as training wheels. Then go on GDAX or Gemini and use that as a way to kind of once you’ve mastered or gotten the handle on things to start doing a lot more complicated things, more complex things. Now, so we’ve talked about Bitcoin, Ethereum, and the main two currencies out there, the two main cryptocurrencies, but there are over 100 cryptocurrencies out there, over 100. And new currencies are coming up every single day.

And actually I think it’s a lot more profitable to find the smaller currencies because they have a lot more growth potential. ‘Cause Bitcoin has gone from being worth pennies to being worth $1,200. So in terms of growth potential, it could go to 2,000. It could go to $10,000. Even $5,000, but it’s gonna get there a lot slower than these currencies right now that are in the pennies on the dollar. All right, so think of altcoins, alternative coins as similar to trading penny stocks. All right so for those who have done investing before, penny stocks are basically stocks worth under $1 or so. Right, almost pen as, that you can buy very, very cheap, and if they go up, they can double just like that. All right, so for example, recently, I doubled my money with Ripple, which is a cryptocurrency as well, but this is used more for banking. ‘Cause it was worth very, very, it was worth in the pennies on the dollar. And when they go up two pennies, maybe if it’s 50 cents it goes to $1.

You can double your money like that. So in general if you want to trade altcoins, the exchange I use is called Poloniex. Don’t know how to pronounce it. I just call it Polo for short, right? (laughs) But if you go to Poloniex, Polo, right, they have tons and tons of cryptocurrencies out there, tons of them. From Stratis to Ripple to Decred, right, not every currency, but the popular ones out there that you want to invest in and leverage and make profit on are available on Polo. All right, as opposed to going to Coin Base, GDAX, and Gemini because they only cater to the top three currencies, the top three cryptocurrencies. Everything else, the altcoins, I would go to Polo and find them there, all right? But one thing to notice, Polo won’t let you buy anything without fiat money. So you can’t buy with dollars. It’s only an exchange, you can only exchange money. And their standard universal currency is Bitcoin. So why I do is I buy my money, I mean, I get my bank account and buy Bitcoin or Ethereum, but generally Bitcoin because it’s a lot easier to work with.

I buy Bitcoin on GDAX, then I transfer that to my Bitcoin wallet on Polo, and I use that to trade and make day trades and moving in and out of different currencies. Then once you’re done, you cash out from that currency converting back to Bitcoin. Then from Bitcoin, you’re sending that Bitcoin back to GDAX, and you cash out. So, it’s kind of complex, it’s kind of a round about way of doing thing. It definitely adds a barrier of entry, but that barrier of entry makes is a lot profitable to make money, ’cause not everybody’s making money with it. Right, but sometimes you don’t even have to cash out.

All right, so, for example, recently I sold a portion of my investment to transfer that money to a off-shore bookie so I could gamble on March Madness with Bitcoin. And the casino, the online broker, I mean the online bookie accepts Bitcoin, which was pretty cool, right, ’cause a lot faster to send my Bitcoin from Polo or GDAX as as opposed to calling them or tying my credit card to that. It kind of give me that, it makes it fluid. And it’s kind of anonymous, kind of anonymous. I say that because all these exchanges nowadays force you to verify your account, your information in terms of your bank account, our I.D., where you live, all that. All right, so it’s not truly anonymous. But if you were dealing with just anybody out there, peer to peer, you can be anonymous. ‘Cause that’s what cryptocurrencies left you achieve. All right, so I gave you guys a lot of game. If you want to do anyway further study or research on cryptocurrencies like Bitcoin, Ethereum and altcoins, a good place to start that I recommend is to check out a book called Digital Gold.

This is one of the best books I’ve read on Bitcoin. And it basically walks you through the starting of Bitcoin from the founder, all right, in Japan, all the way through the history of the major key players and the history of Bitcoin and how it grew. And it also shares the story and talks about how people became millionaire with Bitcoin. All right, so it’s a very, very great story. Check out the book, Digital Gold. I’ll have the link available on my website and I also put it in the video as well. All right, I’ve given you guys a lot of game, I mean a ton of game. All right, and you guys, I’ve showed you how it’s possible to go out there and possibly become a millionaire. All right, just to kind of be candid with you guys, I myself I right now have about $10,500 invested in cryptocurrencies. Right, and I began investing around end of November, early December, or so.

And I didn’t start early. I didn’t just go out there and put in 10 grand, right, I began small. So I first begun things off with $100 in Bitcoin and $100 in Ethereum. So I took a flier on it. I was like, here, you know what, let me just throw 200 bucks at it and see what happens. And I noticed, hey, I’m up about 25% in a month. Not bad, right? So I put about 250 more dollars each in both Ethereum and Bitcoin again to see how things were going. Then I noticed, I was like hey, you know what? I just doubled my money because Ethereum went from $10 to $20 in about 2 months. I’m like not bad, right? Then I saw Ethereum was taking off, I came back, put in $2,500 in Ethereum, and $2,500 in Bitcoin. And Ethereum doubled in about a month and a half. My $2,500 went from being $2,500 to over five grand. To a point I actually sold that off at about $5,500 bucks.

So I more than doubled my money in a bit a month and a half. Then from there I had to kind of learn the ropes. I then moved from money from GDAX to Polo. Because with Polo could do a lot more day trading, a lot more trading with altcoins. All right, so right now, my portfolio, because I don’t want to seem like I’m making money like that, because I ain’t got it like that, but the potential is there. My initial investment of 10,500 is now worth about $13,000 give or take. All right, some profits, some losses, right, but that’s been in about three months or so, so it’s not bad. But right now, the last couple months growth has slowed down, mainly being because Bitcoin is going through a major scalability issue.

I don’t know if you guys have heard about this. You can do your own research on this. It’s too in-depth for this video. This is meant for beginners. But Bitcoin is thinking about doing a split. Basically splitting the currency and doing a hard fork. Something called Segwit and Bitcoin Unlimited. So once this whole debate has been resolved, then Bitcoin I think is gonna take off and continue to take off. Because right now it’s been kind of stagnant. So that being said, I’ve given you guys a lot of game. Go out there and check it out.

Let me know what you guys think. I’ll be dropping a end of blog post on my website explaining a lot more about how to possibly become a millionaire with Bitcoin and cryptocurrencies in general. With that being said, though, I am definitely, definitely not a financial advisors, right, this is not financial advice. This is infotainment. Invest at your own risk, at your own peril. But with that being said, though, let’s get this money. Peace. All right, it’s a wrap. Thanks for checking out the show. Make sure to give it like. Subscribe and drop a comment and review. Check out my website where I drop game every single week. Check me out on social media, Instagram, Facebook, Snapchat. Let’s go out there, make this money. Hustle to greatness..

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Is Cryptocurrency a Risky Business?

BIT COIN HAD NO VALUE PER SE, THEY WENT UP OVER $20,000 PER COIN. MANY PEOPLE HAVE MADE EASY MONEY AND THIS HAS CAUGHT THE ATTENTION OF ONLINE INVESTORS.

COULD PUTTING YOUR MONEY INTO CRYPTO CURRENCY BE RISKY? SOME FINANCIAL EXPERTS ARE GIVING THEIR WARNINGS.

TO MOST OF US, CRYPTO CURRENCIES ARE A RISKY AND UNKNOWN WORLD. PEOPLE THAT SAY THAT ARE SCARED THAT MONEY DON’T MAKE MONEY Reporter: HE CLAIMS HE HAS DONE QUITE WELL AND THE MARKET TAKING ADVANTAGE OF THE VOLATILITY.

BANKING AND SECURITY SECRETARY AND CERTIFIED FINANCIAL ADVISORS SAY THERE ARE A NUMBER OF REASONS TO BE CONCERNED. RETRIEVAL AND HAVING YOUR CURRENCY IS ONE RISK. THERE IS NO AUTHORIZED AND REGULATED MARKET FOR THE ISSUANCE OF THESE COINS. NOT ONLY DO YOU NOT KNOW WHICH BANK TO GO TO, THERE IS NO GUARANTEE BEHIND IT.  MEANING LIKE THE FDRC GUARANTEEING YOUR BANK ACCOUNT, IT’S LIKE BEING ON THE NET WITHOUT A NET.

THE EXPERTS CRINGE AT REPORTS THE PEOPLE HAVE MORTGAGED THEIR HOMES TO GET INTO THE CRYPTO CURRENCY MARKET IN HOPES THE BIG ONE FALLS. I THINK THAT IS EXTREMELY FOOLISH AND DANGEROUS. IT SMOOTH AND EASY TO LOSE. IF YOU HAVE ANY INTEREST IN INVESTING IN THEM, IT SHOULD BE A SMALL AMOUNT OF MONEY THAT YOU CAN AFFORD TO LOSE. THAT IS EXACTLY THE APPROACH THAT THESE PEOPLE SAY.

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