When Venturing into the Wild West…Take a Guide

If you followed along with this week’s Markets & Money, you’ll know a thing or two about cryptocurrencies.

We first heard the term ‘cryptocurrency’ around late 2012 or early 2013. At that time the word was synonymous with bitcoin. That was it. There were no others…at least none we were aware of. And admittedly, we thought it was a flash in the pan. One dreamed up by some nerds watching Star Trek reruns.

But that all changed quickly as new cryptos rushed in to join the party.

Like Dogecoin for example. It launched in 2013 as somewhat of a joke. But despite its quirky background, this crypto gained some serious credibility by 2014. You may recall its links to the Jamaican bobsled team. As reported by the Bitcoinist,

The community became known for using DOGE in charitable acts. Most notably, the community raised enough DOGE to send the Jamaican bobsled team to the 2014 Winter Olympics.’

Things looked promising for Dogecoin…right up until founder Alex Green showed his true colours. He shut down Moolah, the Dogecoin exchange, and absconded with all the funds.

Yet Dogecoin survives to this day, and has enjoyed a stellar run this year. It’s up roughly 1,000% year to date, bringing its market cap to US$315 million. Does that mean you should invest in Dogecoin?

Not according to Sam Volkering. As he recently cautioned,

It has current circulation of over 100 billion coins, and adds an additional five billion per year. In other words it will always print more…which is exactly the problem with central banks and fiat currency…

As the cryptocurrency market matures and filters out the rubbish, we think Dogecoin will fall to the wayside and bring down a lot of punters with it.

The fact that there are over 900 distinct cryptos today gives you some indication of just how fast this market has developed. And if the past year is anything to go by, some of the new offerings will see investors lose everything. While others will make investors a fortune.

The ones you want to get in on, of course, are the ones enjoying the big gains and are less likely to plummet back in value. Cryptos like Bitcoin, up 239% over the past year. Or perhaps Ripple, which is up 4,256% in that same time.

Now there are no guarantees that these cryptos, or any others, will continue to enjoy phenomenal gains. It’s a brand new market. One Sam calls the Wild West of investing. Fortunes will be made…and lost.

To put the odds in your favour, Sam’s written a detailed book to help you navigate through the common pitfalls. It’s a must read for anyone with an interest in this fast moving, booming new market.

And if you’re thinking of investing into cryptocurrencies for the first time, I’d read it twice.

Find out how to get your copy of Crypto Revolution: Bitcoin, Cryptocurrency And The Future Of Money here.

Now let’s have a look at the week gone by.

This week in Markets & Money

Sam Volkering kicked off Monday by announcing that he was ‘hijacking’ Markets & Money for the entire week. It all has to do with the new project he would release later in the week. One he’s been working away on for six years now. He’s more recently teamed up with analyst Ryan Dinse. And on Monday it was almost time to lift the curtain. Knowing Sam, you won’t be surprised to learn the new service involves cryptocurrencies. Cryptos have been gaining mainstream popularity recently, yet nothing like this service exists in Australia. And to give you an idea of how long he’s been atop this story, Sam shared a prescient article on bitcoin he wrote four years ago. You can read all of that here.

On Tuesday Sam wrote about the life changing opportunities presented by crypto currencies. But this isn’t something you want to dive into unprepared. It’s important to understand the ins and outs before investing a single dollar. That was one of the motivations behind Sam writing an entire book — Crypto Revolution — on the dos and don’ts in the fast-changing crypto world. Sam then shared an article he first published 12 September 2015. It details the blockchain technology behind bitcoin’s success. And Sam explains why it’s more than crypto currencies set to shake up the financial world. It’s the tech that supports them. Click here for the full article.

Wednesday saw the official launch of Sam Volkering’s Crypto Network. And Sam explained why cryptos are the first major step to the end of cash. But not in a dystopian way that will see central banks monitor and control your every dollar. Sam shared an article he wrote back in December. That’s when the Aussie government threw out the brilliant idea of banning $100 notes. On the surface, this was meant to deter criminal activity. Just below the surface, it’s a blatant move to take control of your wealth. But it won’t work, Sam wrote. It will just make ‘criminals’ move on to the alternative financial system. There they will join millions of law abiding citizens, happily making anonymous free market transactions. The horror! You can find Wednesday’s Markets & Money here.

Crypto analyst, Ryan Dinse, took over the reins on Thursday. Ryan calls cryptocurrencies ‘the biggest single investment opportunity the world has seen in decades’. And if recent returns from some of the top cryptos are anything to go by, he’s certainly on to something. With that in mind, Ryan looks at why the traditional world of financial advice has yet to get aboard the opportunity. It’s one part risk aversion and two parts ignorance. But Ryan says the mainstream’s reluctance to invest in cryptocurrencies is a good thing. For you at least. Because it gives you time to gain an understanding of what they’re all about. And then invest in the right ones before they rake in even higher gains. For Ryan’s complete analysis, you can read the full article here.

Sam rounded off the week with — you guessed it — cryptocurrencies. And he asked if you’d ever imagined being the person who, later in life, looks back and is able to say ‘I was there at the start. I invested in the biggest wealth creation event the world has ever seen.’ When you’re talking about generational wealth, I think we’ve all had that first mover fantasy. And, apparently, so does Vladimir Putin. That’s right, Putin. Sam shared an extract from his premium investment service, Revolutionary Tech Investor, from early June. And he explains precisely why Vladimir Putin is embracing Ethereum. Click here for the full article.

Well that rounds off the week gone by. A week that gave us remarkable new insights into the fast-evolving world of cryptos.

If you haven’t yet taken a sneak peek into Sam Volkering’s Crypto Network, you can do so here now.



Bernd Struben is a contribution Editor of Markets & Money. He holds a degree in Economics and is a published novelist. Bernd’s career spans multiple countries on four continents. With his diverse background, he brings unique business insight and a libertarian twist to his columns and analysis in Markets & Money.

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