I don't begrudge these guys doing this at all, but unless you're aiming to have a huge crypto portfolio you're better off just putting your $2,500 in crypto and ironically, it would be hard not to get that hint from the content of the presentation. It was about 90 minutes long, with the first hour being pretty solid and good info and the last 30 minutes devoted to the sales pitch.
I took copious notes. So let's cover the highlights.
- In the first half on 2017, zero equities in the S&P 500 returned gains of 100% or more.
- In that same timeframe, Tiwari recommended four picks and here's how his 4 picks compare with the top 4 performers in the S&P 500 based on a $500 investment (it's unclear whether it's $500 total or in each).
- Because of an IRS mandate back in 2014, when the IRS was trying to figure out what Bitcoin was, they classified it as “property.” So, if you buy Bitcoin and Bitcoin goes up in price, then you use that Bitcoin to buy a cup of coffee, technically you have to pay capital gains taxes, because the Bitcoin is now worth more.
In 2018, lawmakers are pushing through a law that will eliminate this. It creates an exemption for Bitcoin payments under $600, making them tax-free. It's the same exemption other currencies get.
- Over 100,000 stores across the globe now accept Bitcoin as payment.
Anthony Di Lorio is introduced as a guest
He first invested in Bitcoin back in 2012. This is back when it was trading for $5.00 to $10.00. Then in 2014 Anthony teamed up with Vitalik Buterin and three others to launch Ethereum.
- The crypto market has gone from around $17 billion at the start of the year to well over a $100 billion.
- 95 percent of all ICOs are either outright fraudulent or just really bad ideas.
- The whole crypto market right now is between $150 to $170 billion big. But when you compare it to a traditional asset class like stocks it's tiny. The global stock market is worth $66 trillion. The entire gold market is worth $8 trillion. So there's this enormous room for growth in this space.
- Don't treat this as get-rich-quick. Learn about it, get out to meet-ups, get out to events, really digging as much as possible. Get in for the long-term. It's going to be a long ride, it's going to take a long time for these technologies to mature and really disrupt different sectors and disrupt industries.
- Decentral is Anthony's company, the makers of Jaxx. Creating it to be the interface for a blockchain. It supports dozens of cryptocurrencies right now that enable people the ability to manage their assets, move their assets, shift them between different tokens.
- Anthony's investments: put quite a bit into the Quantum Project out of China. Quite a bit of Ethereum. Still quite bullish on Dash. Advising on Enigma and Syndicator. Total list invested in right now is right about 30 or 40 different tokens, most of them over the last few months.
Charlie Shrem is introduced as the next guest
Shrem invested in Bitcoin in 2011, when he was a senior at Brooklyn College, and he bought his first Bitcoin when it was trading for around $3. At today’s prices, it's a gain of more than 166,000 percent. That turns every $250 into $416,000, and every thousand dollars into $1.60 million. He’s been involved in several more crypto ventures.
- Doesn't think it has plateaued.
- Cryptocurrency is now the number one hedge now being looked at by millionaires and billionaires. Number two is multifamily real estate, and then you have precious metals, three, four, five, six.
- If Bitcoin can get one percent of the gold market, if one percent of all gold holders bought Bitcoin, you’d see a Bitcoin price over a $1 million for a coin.
- Trying to ban crypto would just be playing a game of whack-a-mole, which as we see with the war on drugs, doesn’t really work. In order for [the government] really to ban Bitcoin and shut it down, or any cryptocurrency, you have to shut down every computer in the world. Because when I’m using cryptocurrency on my phone and you’re using it on your computer, only my phone and your computer know that we’re using cryptocurrency.
- What I’m seeing right now is, what my investment group invests in, is we look for projects that take blockchain technology and apply it to other industries. Music, sports, entertainment, insurance, voting, supply chain logistics. Basically non-financial blockchains. Those industries are really ripe for disruption, because what these projects are doing is they’re asking two questions. One, how can blockchain technology make us more money, and how can blockchain technology save us money from however we’re doing things now?
- Once I know the team is good and I see that they have the ability to execute, I say, “What are they doing? What are they raising? Are they raising $50 million? Ok, what do they need $50 million for?” I’ve turned down projects because the raise is just too high. I recently invested in a project called Vibrate, they were very smart, they raised $15 million. Very easy raise, they told me dollar for dollar what they’re going to use their money for. Very conservative, and it was very successful. They sold out their token sale run in minutes. Another project, Syndicator, $12 million raise. However, I didn’t participate personally in a lot of the big ones. I didn’t participate in Filecoin, I didn’t participate in Tazos.
- This is what I tell people that are interested in cryptocurrency, I tell them, “Take $1,000, go to Bittrex, very easy to use cryptocurrency exchange. Start researching a few of them. They all do different things and they all appeal to different people. Then pick five of them, put $200 into each one, and then just watch it. Follow the news, set up your Google alerts for those five that you invested in. And honestly, it’ll be fun, because that $1,000 can turn into $5,000, it could turn into $10,000. It doesn’t matter, it’s only $1,000, if you can afford to lose that. So you’ll have a great time, you’ll learn, and you can say to your friend that you’re investing in five different cryptocurrencies.
Back to Teeka
- Very soon, global exchanges are planning to launch crypto products. The Chicago Board Options Exchange has announced plans to introduce cryptocurrency derivatives. Right now, big banks, pensions, and money managers have no way to hedge their risk if they buy cryptocurrencies. But that will change practically overnight once the CBOE introduces crypto derivatives. They’ve announced that, pending regulatory review, it’s coming by either the fourth quarter of 2017, or early 2018.
- Another group, the Commodity Futures Trading Commission (this is the group that regulates U.S. commodities trading), also plans to introduce crypto derivatives soon. When these changes go through, it will unleash a stampede of elephant-sized capital. We’re not talking about billions of dollars. We’re talking trillions.
- Some of the top venture capitalists have invested billions supporting cryptocurrencies. Folks like Peter Thiel, Marc Andreessen, Richard Branson, Jerry Yang, Marc Benioff, Google Ventures… and many more.
- Doug Casey just invested his first $100,000 in cryptos. His argument is that only an estimated 15 to 35 million of the 7 billion people on Earth own cryptos.
- For years, poor people have suffered through one worthless currency after the next. Now they have an alternative. We’ve seen a huge uptick in Bitcoin buying in these places… and it’s only getting stronger. Doug – who lives in Argentina and has traveled to dozens of poor countries – thinks this is a trend with a lot of legs.
- Australia, India, South Korea, Switzerland, Sweden, Norway, and Denmark are all opening their doors to Bitcoin. Combined, these countries have 1.4 billion people and a total GDP of $6.9 trillion.
- Japan just opened the floodgates, too. In April, the Japanese government recognized Bitcoin as legal currency. It’s now accepted at stores across the country, and trading is soaring.
[...Teeka then goes into his BITS system for identifying cryptos. It's basically looking at stuff that's oversold, info from insiders is good, technical analysis (chart action), and the most important for me: sentiment. So, if you're making lots of small bets as I advise, then to me, sentiment or "buzz" is of first priority and trading volume second. I won't touch anything doing less than 100 BTC daily in average trading volume.]
- Teeka's team decided to perform a detailed historical analysis using just their “S” indicator. They looked at many of the biggest cryptocurrency moves, and tried to see if a spike in sentiment preceded the big gain.
- I call it “the next big thing in cryptocurrencies.” It’s a crypto disrupting one of the biggest markets in the world – banking. Most banks are still using old, antiquated technology to transfer money. Takes them about three to five days to clear a typical transaction. However, with this crypto, it takes five to 10 seconds. In other words, this crypto is 25,920 times faster!
- It’s 42% cheaper than what banks currently pay… and experts project that those cost savings will climb to 62% over time.
- 75 of the world’s biggest banks have partnered with it. That includes UBS – one of the world’s largest banks… as well as Bank of America, Barclay’s, and Santander.
- So what’s its name? Ripple. That’s r-i-p-p-l-e. Ripple.
[...I had 250 Ripple in my portfolio at about 19.5c each. I just bumped it up to 1,000 Ripple at about 21c each.]
- Ripple is amazing. But the new crypto I’ve uncovered could put the potential gains in Ripple to shame. This crypto is very small. Much smaller than Ripple. It’s only been around for a few months and has a market cap under $50 million. It’s a privacy coin that was created by a dream team of ex-military experts in intelligence, cryptography, and cybersecurity. It’s more private than any other crypto I’ve come across. This crypto is virtually unknown. But I recently discovered that very soon, this crypto is expected to announce a major initiative… One that I believe will make it the most secure cryptocurrency in the world… and will very likely send a flood of money into this coin. This could be a game-changing moment for this crypto. And when I ran it through my BITS System, it confirmed my suspicions…
- What about insiders? It was created by a dream team of ex-military experts. One of them is a former U.S. Air Force officer with experience in satellite radar, space launch vehicles, and combat support intelligence. Another founder was an officer of a nuclear submarine, responsible for nuclear reactor operations. And the former CEO of one of the world’s biggest cryptos has joined this crypto as a close adviser… and he has a team of developers working on it.
[...He didn't reveal what it is, part of the hook for his subscription service. Any sleuths out there have any idea?]
So, that covers all of the info part. Not bad, lots of good info even if it was ultimately a pitch for his Palm Beach Confidential service. But, just put the $2,500 in crypto.
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