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