InvestED. Ep. 136- Special Guest: Steve Walsh on How to Better Understand Cryptocurrency & Bitcoin

We are welcoming cryptocurrency expert, Steve Walsh, on our show today to give us an expert’s view on cryptocurrencies, Blockchain, and ICO’s. We will go over international responses to the new technology, mining Bitcoin, creating your own ICO, and how these transactions work.


In Episode 136 You’ll Learn:

  1. Meet Steve Walsh
    • A successful investor who is also passionate about horses and great at making money while doing it. He is also a Senior Partner for his company, Blocktech Capital, which is a cryptocurrency hedge-fund.
  2. What is happening internationally?
    • China banned the ICO’s and the exchanges once it started creeping into their banking system, but they did not ban mining the coins.
    • In Europe, cryptocurrencies are accepted almost everywhere.
  3. What does Blockchain do?
    • A technology created to enable the existence of a cryptocurrency which allows for “peer to peer” transactions that are decentralized and not monitored by a third party.
  4. Some of the Basics:
    • You create a transaction using a unique ID and barcode, once you make the transaction is it immediately irreversible and “gone forever” in the Blockchain.
    • You can trade Bitcoin for cash, gold, or even real estate markets but it is still comparable to gold as an asset which needs to be translated to a currency for its true value in that moment.
    • This is widely unknown territory, something changes almost weekly.
  5. What is a “Fork”?
    • This is a tool mainly used for miners which “loosens” up the Blockchain and gives it more power to handle more transactions or operate more quickly.
    • Planned upcoming Bitcoin fork was just canceled which helped increase the value of other alternative currencies for the time being.
  6. Creating Your Own ICO
    • Coins are easy to make, simply being a digital asset, it only has value once a community assigns a value to it.
    • By creating your own coin versus using others already established you are cornering your market and playing by your own rules.
    • It used to simple and profitable, but the competition and speculation is forcing people to increase their knowledge and credibility to be successful.

Show Notes:

  • Questions about today’s show? Send them here.
  • Blocktech Capital – You’ll find Steve’s experience as well as helpful Crypto Education.

Learn how to invest like the best investors in the world from my free Transformational Investing webinar.

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On the InvestED podcast, Phil and his daughter Danielle shine a light on the successful investing strategies that gurus like Warren Buffett have used for 80 years. Listen in for a great stock market education on basics, learn how to invest on your own, and follow along with real-time examples and investing tips from week to week.

  • Suzanne Bernard

    Phil, Danielle,
    I am one of your students. I’m studying with Jeff and MAD. I love Rule One.
    I’ve been looking into crypto currencies a lot.
    My ask is: can you invite the people from the Divi project and unpack what they are doing. I know they are really paying attention to making their currency go mass and catering to women. Only 5% of cryto users are women. What I need to understand is: should I buy and hold for years or should I trade crypto.

    • sau

      Hi Suzanne,
      Good to know that you are learning. Can you please share your experience about the learning from Jeff and MAD so far? You can email me if you don’t want to go public. This will help me a lot . Thanks in advance. Email- ksaurav54@gmail.com

      Regards
      sau

  • Inga Michaelsen

    Great episode! Just started reading my first Whitepaper. Check out Impak Finance. I think you both will find their idea interesting.

  • Hi Danielle and Phil,
    I will repeat my offer to explain how the technology of Blockchain works in way you will understand. I don’t know whether you will want to try to explain it to your listeners, because I agree with Phil that it is currently not certain whether any digital currency will be able to retain its value over the long term. Nevertheless, the Blockchain technology has extraordinary value for other reasons, so it is here to stay.
    Reply to this comment or Direct Message me on Twitter (https://twitter.com/AlanMcBee) and let’s get this cleared up for you.