Your crypto knowledge has a value ๐ฒ๐ฒ๐ฒ
In the last week I've had a bunch of people contact me on Facebook asking for help getting started with crypto.
We can be in no doubt looking at the google trends for the search term 'bitcoin' there has been an explosion in interest since we broke the 200 day moving average.
I remember the same thing happening two years ago when Bitcoin was at the parabolic stage but I did not at that time have a system for dealing with people in a way which helped both them and me. In the end I became over-run trying to help everyone for free and ultimately became disgruntled.
This time around my system is clear. If they want my time they must pay.
After some debate the total of $60 an hour was decided upon. People seem willing to pay this and I am comfortable with the figure, so everyone wins. I have noted that most people need around two hours to cover the basics.
Facebook FOMO
Long have I wondered why I am still using Facebook. Well, now I know. I have picked up almost 2000 'friends' over the years and have noticed how (just like the rest of us) they seem to react to FOMO.
When the price of BTC is going up, all I have to do is post the price to my feed regularly and this alone is enough to get people asking questions. It is important to break through the brainwashing of the MSM and show them the facts.
Last week I posted the words "Your last chance to buy Bitcoin under $5000 has most likely passed now". This immediately netted me three customers.
Yesterday I posted this chart, showing the life span of BTC in yearly candles. Even the most brainwashed amongst us cannot argue with this.
It is important also to continually post bullish news articles relating to mass adoption. These days such articles are coming out more and more.
https://cointelegraph.com is a good place to find them.
What will I teach?
I ask that anyone I am teaching complete the sign up process with Binance and connect up their bank, so that the first lesson can be to buy some BTC and pay me.
How to buy, sell & store crypto will be my main focus for newcomers.
I avoid giving people advice about which coins to buy, reminding them I am not a financial advisor. Instead I point them in the right direction to keep researching and warn them about 'shit coins' which may amount to nothing. If they keep pushing me for more I will tell them what is in my Exodus wallet. Though with 33 different coins in there this will likely not help them much.
Understanding the cycle of markets
One of the most important lessons no one taught me last time around was that nothing goes up forever. If I had understood this, I would have prepared myself to sell somewhere around the top, avoiding that long lasting sinking feeling which accompanies a crypto winter. The tricky part of course is knowing where the top is.
Following those who follow
Since the crypto boom of 2017 many YouTube personalities have taken on the task of producing daily films, looking at both at the fundamentals & technical analysis. Ultimately these people save me the time and effort of doing the research myself, packaging the information into an easily viewable format. The more of these people you follow, the more of a rounded view you are going to get.
Here is a list of those I follow:
- Crypto Zombie
- Altcoin Daily
- The Cryptoverse
- The Crypto Sphere
- Sunny Decree
- Forflies
- Crypt0
- That Martini Guy
Finally, here is a useful list of websites I put together during the last bull run:
The lovely framed print at the top of this post can be bought from here
Who is @samstonehill?
All content created for this account is 100% original (unless otherwise stated), produced by @samstonehill who invites you to use & share freely as you wish.
Sam is the creator of:
The Aspiring Steemit Whales & Dolphins group on Facebook which seeks to help newcomers make the transition from Facebook to Steemit, providing them with detailed notes and personal assistance with their posts... resteeming them when he can.
@teamsteem @timcliff @jesta @good-karma @someguy123 @blocktrades @pfunk @klye @krnel @blueorgy @ausbitbank @thecryptodrive @ura-soul @pharesim
The price of bread, in Deutschmarks... well, i guess it could have gone up forever if people had larger wheelbarrows.
I guess, the problem i have with that statement is that cryptos will go up and stay up when we see adoption. And, will stay up, until the crypto dies.
The other problem is that when we say "bitcoin won't go up forever" we mean that in dollar terms, and The US$ is being undermined at an increasing rate.
So, how many Zimbabwe notes for a bitcoin?
I see you are going full "signing them up" route for your $60 an hour.
What if what the client really needed was a paper wallet with $50 of bitcoin?
I probably should figure out how to make and carry around $50 bitcoin _____ (what is the proper word, its not a note, its not a bill, its money...) and then sell them at +10% from spot.
But even when we see adoption don't you think there will still be a speculative period of parabolic growth followed by a big correction? I understood this was the normal cycle of markets.
I love your idea of selling paper wallets on the spot. It sure makes it easy for them to own some bitcoin!
No, i expect bitcoins to become pretty much rock solid in value.
The only way to move the price is to dump and then buy.
With things like stocks, you can dump loads of stuff you don't have.
That is why exchanges today are going away. They are trading paper bitcoins.
So, after the shakeout period, high speed trading will just make bitcoin more stable.
But, i do not know what the value of a bitcoin will be... it will be something like 1 manhatten penthouse worth.
You received an automatic upvote, because I believe in you and I love what you create! ๐
A huge hug from @amico! ๐ค
๐ I love promoting @steembasicincome, even with #sbi-skip! ๐
FOMO is totally valid. Basic human psychology (of unenlightened society...). Great article Sam! Thank you for helping people out!
I had never thought about it like this. Basic human psychology of unenlightened society. It shall be known as BHPOUS from hence forth ;)
Nice to read it dear @samstonehill .
As you said, crypto knowledge worth something. And first adaptors of crypto world have the responsibility of spread it. I am going to resteem your informative post to my follower.
There will come a time when everyone will need to learn this ;)
And by then... we will be wise in the art of crypto.
Great article there are more and more seeing the light for sure I signed a colleague up last week. Hoping for more to ask soon. After #coinfest this last weekend I am raring to share the wealth, with my new found knowledge My views on #coinfest ๐ฏ๐