NFT Art Will Never Be Mass-Market — NFT Licenses May Be

The art in many video games is essentially decorative, and thus in the same category as wallpaper. It looks good in screenshots, but in motion it’s just flickering pixels. Can these kinds of video art be made interactive?

The answer is yes, but not by turning them into NFTs. art will always be limited to a small audience because it is expensive to get hold of. NFTs are inherently limited editions. The same goes for any kind of digital artwork that depends on the artist’s original files for its meaning. Digital art can be infinitely reproduced, but only at the cost of losing what makes it valuable in the first place.

The kind of artists that I expect to find working in art will never be famous “commercial” artists. art is just too risky for that.

The kind of people who make commercial art are, by definition, good at fitting into other people’s preconceptions of what is beautiful. And since they are good at fitting into other people’s ideas, they are more likely to be able to make a living selling their work.

NFT art instead will be made by the kind of people who are good at surprising other people. If you’re really good at surprising people, you may end up famous; but if you’re really not good at surprising people, you’ll never be rich.

I don’t mean this as a criticism of commercial artists or as praise for NFT artists. I suspect that there will always be both kinds around, and probably always room for both kinds to make a living–although it is hard to see how the same person could do both kinds of art well. I’m just saying that if you want to create surprises, you won’t get paid for it — not directly, anyway.

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Trading Bitcoin’s Like Trading Stamps, Says Swedish Central Bank Governor

The governor of Sweden’s central bank, the Sveriges Riksbank, has dismissed Bitcoin (BTC) as an altogether far-fetched alternative to government-backed fiat currencies. 

Speaking at a banking conference in Stockholm, Sveriges Riksbank governor Stefan Ingves argued, “Private money usually collapses sooner or later.” In a further disparaging remark, he claimed, “Sure, you can get rich by trio ading in bitcoin, but it’s comparable to trading in stamps.”

Notwithstanding Ingves’ view of Bitcoin’s weaknesses as a currency, he has taken its popularity among investors seriously. Highlighting consumer interests and money laundering as being of particular concern, the central banker conceded this June that the had gotten “big enough” to merit close attention from regulators, central bankers and lawmakers across the globe.

Nor has Ingves’ low estimation of Bitcoin prevented the Riksbank from co-opting its underlying technology for the benefit of its own central bank digital currency development project. Sweden’s e-krona uses a proof-of-concept based on Corda, a distributed ledger technology solution from R3. The latest update on the e-krona pilot is that experiments are progressing, involving simulated participants to cooperating with real-world actors, specifically Sweden’s retail bank chain, Handelsbanken. 

Related: Bitcoin’s rising popularity will lead to more regulation, says Riksbank

While the Riksbank’s approach is in line with most central banks and governments, this week has witnessed El Salvador’s unprecedented government-mandated adoption of Bitcoin as legal tender. Despite Salvadorans’ anxieties about their government’s move, Cardano founder Charles Hoskinson and whistleblower Edward Snowden have this week claimed that other nation-states could also eventually incorporate the coin into their own monetary policy.

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Blockchain-Based Platform For Fractional Property Ownership Launches In India

A fintech firm from Pune, India has launched a blockchain-based registry system named RealX that allows Indian citizens to purchase fractional ownership in properties. 

A report from The Economic Times states that RealX has partnered with Tripvillas, a holiday home rental service, to blend ownership of holiday properties in accordance with usage and yield. Tripvillas will also be responsible for managing the basket of holiday properties intended for co-investment.

According to RealX COO and co-founder Neera Inamdar, the COVID-19 pandemic was a key driver for the platform’s launch as the real estate market’s instability concerned both property developers and investors. Citing the return of a comparatively stable market, she said:

“We offer ‘direct deeded property co-ownership’ and it is in the best interest of investors to become direct co-owners of the property.”

Roshan Lionel, founder and CEO of Tripvillas, said that the RealX platform will soon allow Indian investors to co-own international properties on the platform to incentivize dollar-denominated income.

Related: India to use Ethereum blockchain to verify diploma certificates

While Indian regulators’ stance on crypto adoption is still unclear, the country continues to experiment with blockchain technology in non-financial niches.

Recently, the government of Maharashtra implemented a credentialing system for providing tamper-proof diploma certificates using the Ethereum blockchain. In partnership with blockchain startup LegitDoc, the Maharashtra State Board of Skill Development has started issuing digitally verifiable certificates.

LegitDoc is also in talks with few other educational institutions in India that intend to implement a similar solution for countering the ongoing forgery of documents.

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Robinhood Investing For Beginners 2021 (Step By Step Tutorial)

Video transcription

What is going on, you guys Welcome back to the channel, So in this video today, I’m gonna give you a step-by-step tutorial of how Robinhood works for a complete beginner. I’m gonna show you a lot of different things in this video and I also am going to include timestamps down below that way. If you wanna skip ahead to a certain section of this tutorial, you are more than welcome to do that, but just to give you guys a general idea of what I’m gonna cover to make sure you’re in the right place. I’m gonna talk about the free stock offering from Robinhood and how you can get a free share of stock just for signing up

We’re gonna cover what stocks and ETFs are available for trading in the Robinhood app, and how to find different stocks that you may want to invest in. We’re also going to cover crypto trading and options trading, I’m gonna actually purchase some crypto and purchase some options, just to show you guys how you go about doing that.

We’re gonna go over an overview of the cash management product that Robinhood has if you’re looking for high yield savings. We’re gonna talk about how you find different investments within the app, how to create watch lists, how to take advantage of fractional shares, dividend reinvestment, different account types, as well as setting up recurring investments through Robinhood, and whether or not you may decide to pay for a Robinhood Gold subscription. The good news is Robinhood is completely commission free, with no monthly fees or anything like that associated with your brokerage account.

The only thing that you may decide is whether or not you want to pay that $5 per month for that gold subscription, but the good thing is you don’t need it to have all the functionality, and free stock trading, and options trading, and all that good stuff that they have to offer.

That being said, guys, let’s start with our first section here, which is what is the free stock offering on Robinhood and what is that all about? So how does the free stock offering with Robinhood work? Well, basically if you open up a brokerage account with them and fund it with any amount of money, you’re going to get one completely free stock, worth anywhere from $2.50 up to $200, it is a lottery type system.

So odds are, you’re going to get a lesser valued stock, but if you’re lucky, you might get one worth up to $200. In order to get that free stock, you have to open the account, and then you have to fund it with any amount of money, and then you’re going to get that completely free stock issued.

If you guys want to support me in putting this video together, you’re more than welcome to use my affiliate link down below, which means that I may earn a small commission in the process, but of course, guys, that is never expected, but always appreciated. So that’s the first step here, before trading stocks with Robinhood, is you have to actually open up an account with them, and that’s going to involve you supplying them with some information, like your social security number, where you work, and things like that, because you’re opening up an investment account, which is going to have to be reported to the IRS. So number one, they do have to verify your identity and make sure you are who you say you are.

And then number two, they’re also going to have to report any trading activities to the IRS, because you are going to owe some taxes on dividends, and capital gains, and different things like that. So right off the bat, a lot of people are often cautious when an app is asking them for their social security number or things like that. But this is going to be a full blown financial account here, so you are going to have to supply that information, but Robinhood collects this in a secure manner, and doesn’t store this information about you. So that’s the first step is opening up that account and grabbing that free stock. Now let’s talk about what stocks and ETFs are available through Robinhood.

So through the Robinhood app, you’re able to trade stocks and ETFs, as well as options and cryptocurrencies, 100% commission free. However, what you’re going to find is that not every stock, or ETF, or investment that trades on a major exchange is available for trading on Robinhood.

But the good thing is, the majority of stocks and ETFs that people are looking for are available through Robinhood. So that being said, let me go ahead and cover what assets you’re going to find on Robinhood. First of all, US Exchange-Listed Stocks and ETFs.

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Those are major companies like Apple, Google, Tesla, companies like that, and also popular fund investments, like VOO, or the Vanguard S&P 500 Index Fund. You’re also going to find Options Contracts for US Exchange-Listed Stocks and ETFs.

If you’re looking to buy some basic call and put options, and even some more sophisticated ones, those are available here on Robinhood, and we’ll discuss those a little bit later. You’re also going to see ADRs available, or American Depository Receipts, which is going to support trading for over 650 globally listed companies. So if you wanna invest in some of these big companies that are trading outside of the United States, you may be able to do that through Robinhood, if those companies are supported.

That being said, you’re not going to find the following assets on Robinhood. First of all, foreign-domiciled stocks, select over the counter stocks. So basically these are companies that trade on less desirable exchanges, oftentimes trading for a few pennies per share. So if you’re looking for over the counter penny stocks trading for, you know, next to nothing per share, you’re not going to find those on Robinhood. However, I would caution you to stay away from those regardless, because penny stocks don’t typically make for the best long-term investments.

You’re also not going to find preferred stocks or mutual funds on Robinhood. You’re not going to find bonds or fixed-income investments, however, you will find some bond investments through ETFs. So if you’re looking for like a Vanguard bond ETF, for example, you’re able to purchase that on Robinhood, you just can’t purchase bonds directly. They also do not offer stocks that trade on foreign exchanges, but that’s pretty common for most commission-free brokerages out there. And then some less common things here, you’re not gonna find close-ended funds, limited partnerships, royalty trusts, tracking stocks, New York registries shares, or units on the Robinhood app.

The good news is, most of what people are looking for is available, but if you’re looking for something specific, and it’s listed on this, then you may have to find a more sophisticated brokerage, that may charge commissions, but they also will likely have a wider variety of assets available for trading.

Alright, so next up here, let’s talk about Robinhood crypto, and more about where this is available to investors, and who is and is not able to use Robinhood crypto, as well as what actual cryptocurrencies are supported on the app? So Robin hood is unique because they offer commission-free cryptocurrency trading, and there’s not a lot of other apps and financial companies offering this. So that being said, if you are able to purchase Robinhood cryptocurrency, which we’re gonna cover in a second, these are the available cryptocurrencies. You can purchase Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin, and that list does change from time to time, so you’re gonna wanna keep track of that.

If there’s a specific cryptocurrency that you are looking for. Now, if you’re looking for data on cryptocurrencies, they do support real time data on the following cryptos, but you are not able to trade them. This list includes Bitcoin Gold, Dask, Lisk, Monero, NEO, as well as, OmiseGo, Qtum, Ripple, Stellar, and Zcash. So you can get quotes on those cryptocurrencies, but you’re not able to actually purchase them through Robinhood.

That being said, guys, there’s a long list of states that support Robinhood cryptocurrency.

It’s too many for me to cover in this video, but I can include a link down below with a website here that shows you what states support Robinhood cryptocurrency. But I’m not gonna waste your time by reading off a list of like 30 different states here. So most states are supported, but if you wanna check and make sure, go ahead and check out down in the description below. So now let’s talk briefly about the options supported on Robinhood, before I actually jump into my phone and purchase one as a live demo here. So Robinhood offers options tradings with no commission fee to buy or sell options.

There’s no monthly fees and you also do not need to have any form of paid subscription in order to trade options or cryptocurrency, for that matter. Anybody with a basic and free account is able to trade these things. However, you do have to request access to options trading, where you’re gonna have to fill out a questionnaire about your individual trading experience. Based on your experience level, Robinhood will decide what types of options they want to allow you to trade, because options are very high risk and speculative investment, where the majority of people who trade them, lose 100% of their money or more.

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So I’m not here to tell you to go buy them or not to buy them, that’s up to you to make that decision.

But I just wanna give you information about the options on Robinhood. Typically speaking, when you’re trading options on other brokerages out there, you’re going to pay a couple of different fees, such as Base Fees, Exercise Fees and Assignment Fees, and Per-Contract Commissions. With Robinhood, none of those such things exist.

So if you’re looking to trade options and do it in the cheapest way possible, Robinhood is a very solid pick for this, but you may find that some of the more sophisticated option types may not be available through Robinhood, but they do have a very good selection of order types and types of call and put options that you may be interested in, and I’ll show you guys what those are in a little bit. So now what we’re gonna do is actually open up the Robinhood trading app on my phone, and I’m gonna show you how to fund the account and then how to buy and sell some different assets.

Alrighty guys, so here we are inside of my Robinhood app, and as you can see, I have $146.47 of cash, and I don’t actually have any shares of stocks, or ETFs, or anything in this right now, just because I’m using this for a demonstration purpose. But that being said guys, the first thing I wanna cover here is how to get money into your Robinhood account, and this is going to require you to link a bank account.

Now I already have my Robinhood account linked, but what I wanna go ahead and do is move some more money into this account, that way you guys can see what that process looks like, and that also is going to show us something interesting called Robinhood instant deposits. So in order to do that what we’re gonna do is go over to the person icon.

After you click on the person icon, you’re gonna go over to transfers, and this is where you have a couple of different options. Number one, you can transfer to Robinhood, this is where you would transfer money from your bank to your Robinhood account. Alright, this is what we’re gonna do first, because this is how we get money into the Robinhood account for trading. So we’re gonna go ahead and click on that, and then we’re going to choose the amount of money that we want to move from my bank account to my Robinhood account. Now you can link multiple banks too, if you have a lot of different bank account, I just have one main account that I use for funding my brokerage accounts, that I already have linked.

So let’s say for example, I want to move $100 from my bank account to my Robinhood account. I would type in 100, I would click review, and submit. Now the big difference between Robinhood and other apps out there is that a lot of trading apps would not let you trade with that money, until the deposit has settled, which as you can see I did this on January 8th and that would not be settled until January 11th. However, with Robinhood, you have instant deposits up to $1,000 for everybody for free, which is a really cool feature. So you can actually invest that money right now and not have to worry about fund settlement.

So now our balance for investing has gone up to 246.47, even though that money hasn’t necessarily settled yet. So that’s something really cool that Robinhood does. Now, I wanna show you how to move money out of your Robinhood account. So let’s say for example, you’ve placed some successful trades, you made some money, and now you wanna move some of your cash out of your Robinhood account.

What you would do is you would go back to that person icon. You’re gonna click on the same menu there, which is transfers, but this time you’re going to transfer to your bank, which means you’re taking money out of that Robinhood account and putting it back into the linked bank account. So let me go ahead and do that quick here. And I actually don’t have any money available to do this because none of my deposits have actually settled. So if my deposits had actually settled already, I would just type in the amount.

You can see the box that says $0 available, any settled funds would be available for moving out, and you would pretty much just type in the amount of money you’re looking to transfer out, click review and click submit, and that’s going to happen over the next three to five business days.

So, unfortunately, I can’t show you guys that whole aspect of getting money out of Robinhood, but that is the exact step-by-step process that you would follow. Lastly, while we’re here in this menu, I wanna talk about scheduling automatic deposits. That would be if you want to put like 10, or 20, or 50 bucks per week into Robinhood. You can sit schedule automatic deposits, that way you have money coming in one time, weekly, twice a month, monthly or quarterly, but then you would have to actually direct that money yourself and choose where you’re putting that money, in terms of purchasing investments.

So anyway guys, that covers the banking side and how to get money in and out of your Robinhood account. What we’re going to do now is show you how to purchase your first stock on Robinhood. So in order to purchase a stock on Robinhood, the first thing you have to understand is what stock you actually want to buy. So let’s say, for example, you’ve done some research and you decided that you wanna buy one share of Ford stock, for example. Well now let me show you how to purchase one share of Ford.

What you’re gonna do is you’re gonna go to the search bar and you’re gonna type in either Ford or the symbol, which is just F. So let me type in F, and then I’m gonna go ahead and click search. And as you can see, Ford Motor shows up immediately. So if we click on that we can see that Ford is currently trading at $9 and one penny per share. And so now if I wanna buy one share of Ford, all I’m gonna do is click on the trade button and I’m gonna click buy.

So I’m just gonna buy one share of Ford for demonstration purposes. So this is where you decide how many shares you actually wanna purchase. And by default, it’s going to be a market order, which means it’s going to close at the current market price at this instant point in time. So at any point in time when you’re looking to buy a stock, you have buy orders and sell orders, and that’s going to determine the quoted price that you’re most likely going to pay, but what you actually pay might be a little bit different, based on what the order is actually executed at.

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But if we go over here to this dropdown, you can see where you have also the option to buy in dollar amounts or buy in shares.

I’m gonna purchase in shares, but if you want, you can also do fractional shares on Robinhood, and just buy it in dollar increments. There’s also different order types you can utilize if you’re looking to have some advanced order types, however, I never ever used these. And I simply just, you know, put my money in through a market order, and I always sell through a market order as well. But maybe in another video, I can go over some of these advanced order types for those of you who are interested, but I never use them.

So I don’t wanna confuse you here.

The other option you can set up here is recurring investments into this stock. So if you wanted to put money into Ford stock every single week on a recurring basis, you are able to do that. But the market’s about to close, so let me go ahead and execute this order. So I’m looking to buy one share at a market price of 8.99, click review, and then swipe up to submit, and then you’re going to see them close that order.

So one share of Ford was just purchased at $9 per share. So now it sounds kind of silly, but I’m gonna turn around and sell that share of Ford stock, just so you guys understand how that works. So now let me go ahead and cover how to sell a stock on Robinhood. I have that one share of Ford that I just purchased for $9 per share, and so it hasn’t really moved at all, because I just bought it, but I’m gonna go ahead and sell it now for demonstration purposes.

So if we go to my homepage, you can see what stocks I own, I have my one share of Ford, and let’s say I just decide, hey, I change my mind, I wanna sell this stock.

You would click on that stock, and then you would click on the trade button, and then you have the option to sell at this point because you own shares of Ford. So you click on that sell button and you type in how many shares you’re looking to sell. I only have one, so we’re just gonna sell that one share. And again, if you click on this dropdown here, you can also sell in dollar amounts, or sell in whole shares, depending on whether or not you use the fractional shares. And you also have different order types for the sell, if you wanna use more sophisticated order types, like the limit order, trailing stop, etcetera.

Again, I never use these, so that’s gonna be a topic for another video. I’m just gonna click review, and then I’m going to swipe up to sell my share. And just like that, I sold my share of Ford stock for $8.98, so I actually lost two pennies, holding onto that stock. Your goal is to make money when you sell, so you’d wanna buy Ford for like $9 a share and sell it for maybe $10.

That would mean that you made $1 of capital gains while holding onto that stock. So that is how you sell a share of stock on Robinhood. Now, I wanna go ahead and show you how to purchase an option on a stock. So now what I wanna show you guys is how to purchase an options contract through Robinhood. And again, as I mentioned earlier, options are a high risk type of investment where the majority of people who buy them, lose all of their money.

So I want to encourage you to do your own research before trading options or trading any different assets out there, because the potential to lose money here with options is very high, and you should be familiar with that before purchasing.

But that being said if you’ve already decided that you wanna buy options, and you’re just looking for the step-by-step instructions, let me show you how to do that here. Now we are in after hours already here, because it just turned to be four o’clock. I’m not sure if I’ll be able to purchase an option on Ford stock right now, but I’m going to show you how I would do that anyway, just so you guys are aware of the process. Again, as I mentioned earlier, options are something you have to get enabled on your Robinhood account, and you would request permission or request access to options, and then you’d fill out a questionnaire which basically explains to Robinhood what your trading experience is, and if they deem you educated and informed enough for options trading, they will activate this on your account.

That being said, though, I’m gonna click on the trade button here, and we’re gonna look at buying some options on Ford stock. Now, the only thing I ever trade on Robinhood is call options, which means I think that the stock is going to go up in the future. If I was trying to bet against the stock, I would purchase something called a put option. I only ever do calls, I’ve never done a put option, maybe at some point I would, but I don’t get into covered calls, any of these more sophisticated options types. I’m not an expert at options, so I’m not gonna talk about those, because there are experts out there that will help you understand these more sophisticated options types.

So for now, let me show you what the process would be for purchasing a call option on Ford stock. So the first thing you have to decide is when you want that option contract expiration date to be? Because typically speaking, the further out that date is, the higher the option premium is for purchasing that option.

Robinhood Investing For Beginners 2021 (Step By Step Tutorial) 1

So I always typically look to buy calls that are going to expire in about a three to six month window, because that gives me a good period of time where you know, if I made a bad decision in the short term, there’s more time for hopefully that stock to change in price in a favorable direction, that way I don’t lose money.

But I actually don’t really like Ford stock, and so buying an option on them, is kind of stupid, but I’m just going to show you for demonstration purposes here.

So if I truly did believe that Ford stock was going to climb higher in the next six months, which I honestly have no idea, it’s a total gamble, because I don’t actually like Ford, but I would look to buy a call option six months out in the future, which would put us around June. So I’m going to go into the June 18 call options and see what the different prices are, and then you’re going to look at how much that stock would have to go up for you to be at break even with that option, covering the cost of your premium.

So for example, we see here that the share price is currently $9, and if I were to buy a $10 call on Ford that would mean that I’m paying a 63 cent premium. So my actual cost for that option is going to be 100 times that 63 cents because options are always in orders of 100 contracts. So let’s say, for example, I wanna buy that $10 call, that means that in order for me to break even, Ford stock has to come up to $10 and 63 cents per share, or go up 18.

11%, who knows if that’s gonna happen? Probably not, but anyway, let me go ahead and pick that one, and just make that purchase. But as you’re gonna see here, if we’re looking at call options, you know, the more that the stock has to go up in that period of time, the less likely it is to happen. And as a result, that option premium is lower and lower.

So you can kind of decide whether or not you wanna go for an option that’s near the money, or one that’s a total long shot bet that’s going to be cheaper, but if it does end up going up to that price level, you might make a lot of money.

So I’m gonna just purchase a $10 call on Ford. I don’t even know if I can right now because the market is closed, but we’re going to put in an order for one contract, and it’s going to cost me $63. ‘Cause, it’s, technically speaking, 100 different contracts at 63 cents a piece. So let me click review and then submit, and we’ll see if the order closes, and it did actually, it closed, so I did just purchase or no, I’m sorry, it’s queued. So it’s because the market is closed, I wasn’t able to actually place this order.

So it says right here, your limit order placed at 4:04 PM on January 8th, 2021 will be sent at the start of the next trading session. So there’s no extended trading hours for options, unfortunately, but you can trade stocks during extended hours on Robinhood. So I actually am gonna cancel this ’cause it’s Friday, I don’t know what Ford stock is gonna do over the whole weekend here, and then what it’s gonna open out on Monday. So I’m gonna close this right out and cancel that order, but that is how you would place a call option purchase on Robinhood. Unfortunately, since I wasn’t able to buy it, I can’t show you how to sell it, but I’ll probably do another video just on options trading with Robin hood at a later date.

So now I’m gonna show you how to purchase cryptocurrency with Robinhood. But before I do that, it is important to understand that one of the big differences between Robinhood and other exchanges out there for purchasing crypto is that Robinhood does not allow you to send or receive cryptocurrency in and out of your portfolio.

And the reason behind this is because Robinhood is going to keep track of what your capital gains are on your cryptocurrency. That way they can report this to the IRS and you can pay your applicable taxes, while the problem is if people are able to send and receive crypto in and out of that account, it would be impossible to keep track of that cost basis, and you would have to keep track of it on your own. So in order to simplify that process, Robinhood restricts you from moving crypto in and out of that account.

Something you need to be aware of before you put a bunch of money into cryptocurrency, and it’s up to you to make that decision of whether or not you’re comfortable with being unable to move your cryptocurrency in and out of the account. That being said, guys, I’ll show you how to do it, assuming that you are comfortable with that and you wanna buy some Bitcoin or other supported cryptocurrency, regardless. So, first of all, in order to find cryptocurrencies that are supported you’re gonna have to go to the search tab and then under popular lists, click on crypto.

And if that’s not showing up for you, just type in crypto, and then it’s gonna show you what cryptocurrencies are available. But I’m gonna go ahead and click on that and show you what cryptocurrencies are available.

And they have a couple of different ones here. The only thing that I would ever purchase is Bitcoin personally, and that’s just my viewpoint on crypto myself. So let me click on Bitcoin, and I’ll show you how to purchase it. So this shows you what it’s been doing over the last week, last month, and holy smokes, it’s been quite the rally here for Bitcoin. So let’s say, for example, you wanna join the party and get in on it, you’re gonna click the green buy button at the bottom, and you’re gonna type in what dollar amount in US dollars you wanna put into this cryptocurrency.

So right now you’re gonna be paying the price of about $39,000 per Bitcoin, but most people don’t have that much money to buy a whole coin, so you’re gonna buy a small amount of a coin.

So I’m gonna do $100 worth, just for demonstration purposes, and then shortly after I’m gonna sell it, that way you’re aware of how to actually sell cryptocurrency on Robinhood as well. So that being said, I’m gonna buy $100 worth, it’s going to be about 0.00254 Bitcoin. So we’re gonna click review, and then here we are with the agreement that we have to accept before we purchase crypto.

So what’s important to understand is that when you’re buying stocks and ETFs with Robinhood, you are insured under SIPC insurance, which covers you in the event of theft of cash, theft of assets, anything like that. So if somebody stole that money or Robinhood went insolvent, you are covered under SIPC insurance. The issue with crypto is that there’s no federal insurance policy insuring your crypto assets. So Robinhood does have a private insurance policy and they also store them offline, the majority of the cryptocurrencies in cold wallets. However, in the event that there was a theft of cryptocurrency from this exchange, and that insurance policy was fully exhausted, you are potentially running the risk here of losing the money you have invested in cryptocurrency since there is no federal insurance.

So that’s why we have to review this agreement and accept it before we are able to actually purchase cryptocurrency on the app. Obviously, guys, you’re gonna wanna read that, even though I just skipped it, but I know the risks already ’cause I’ve written about this at length. Anyways, now I’m gonna swipe up and submit my order, and purchase Bitcoin through Robinhood. So I just bought my Bitcoin on Robinhood. Now, if I click done, you will see that listed here.

And if I go back home now, you’ll see that I have a little bit of Bitcoin under the cryptocurrencies section. Now I’m gonna show you how to actually sell your cryptocurrency, that way down the road when you decide to sell it, hopefully for a profit, you’ll know how to go about that. So what you’re going to do to sell the cryptocurrency is pretty simple. You look at your homepage and you click on the cryptocurrency that you own in your portfolio, and then you’re going to click on the green sell button. Now, once you do that, you put in the dollar amount that you’re looking to sell off the total value of your crypto.

So right now my total value is $99.69 to sell, and you have to decide how much you wanna sell. So I’m just gonna do $50 worth, and that is going to sell $50 of my Bitcoin, and put that back into US dollars. At this point, you click the review button, and then you swipe up to submit that order. And just like that in the snap of a fingers guys, we sold a portion of my Bitcoin and got a credit of $50 and 3 cents.

So now if I click done, you will see that I have a lesser amount of Bitcoin in my portfolio and a larger cash balance. So that is how you would actually sell cryptocurrency on Robinhood.

It’s the same process for any cryptos that are supported, and obviously, the goal here is to buy low and sell high. So if you’re looking to make money trading cryptocurrency with Robinhood, the goal is to buy it at a lower price and sell it for a higher price down the road. However, Bitcoin prices and crypto prices have been speculative in the past, so it is a higher risk asset, and that’s something you should understand before actually trading cryptos yourself.

So now that you guys understand how to actually purchase stocks, options, crypto, and different assets on Robinhood and how to sell them, I wanna cover a couple of different features and tools available on Robinhood that you may want to be aware of as a new user.

And the first one is something called, Robinhood Cash Management. So with your Robinhood account, if you open up an account with them, you’re going to open a taxable brokerage account or a margin account, and this depends on whether or not you wanna borrow money to invest with. For the majority of people, the answer is going to be no, but that’s something you have to decide on your own when opening the account. But most people are just going to open a cash account where any money that they’re investing with is their own money, and they’re not using borrowed money.

But that being said, they also offer a different online savings account called Robinhood Cash Management, which is totally separate from the brokerage account. Now with that cash management account, you’re gonna get a couple of different things. First of all, it currently pays 0.3% APY, which is about six times higher than the national average, which is 0.05% APY.

So if you’re looking to maximize the interest from your savings, this may be an option to explore. It’s also FDI insured through their custodial bank up to $1.25 million, and you have full flexibility here for doing direct deposit, paying bills, and they also offer a virtual Robinhood debit card, if you wanna use the checking account as well, and you will have fee free withdrawals from over 75,000 different ATM’s.

I don’t personally use Cash Management myself, I use a different account for my online savings. So it’s not something that I use, but I wanted you guys to be aware of it in case it’s something you’re interested in.

And the other advantage here too is that if you have your money with Robinhood Cash Management, it’s very easy to move money from Cash Management over to your Robinhood investment account to actually buy and sell assets. The next thing I wanna show you is more of the research tools and data available within the app if you’re simply looking to find investments and you don’t necessarily know what you’re looking to buy. So we just typed in cryptocurrency from our last example, but I’m gonna clear that out, ’cause I wanna show you the popular lists at the top. The popular list is a collection of stocks or ETFs within a certain category. So for example, we have one called technology.

If you’re looking to buy tech stocks, for example, you might click on one of these popular lists to get ideas for potential investments.

So if I click on technology, you can see that it offers 819 different stocks here related to tech. So through this list functionality here, you’re able to see a number of different technology stocks currently available on Robinhood. There’s also a lot of different lists here, you have cannabis stocks, daily movers, crypto, 100 most popular, you can look at upcoming earnings if you’re looking to place a bet on a stock that’s gonna be reporting earnings soon, all kinds of different stuff you can do with these lists. If you scroll down further, they have a good newsfeed, which is going to show you relevant news, related to the stock market.

gold round coin on white paper

And then one of my favorite things to look at is the top movers for the day to see what stocks are moving up or moving down the most.

Now that being said, let’s say you’re looking to do some research on a given stock that you want to invest in. There are a couple of good research tools on Robinhood. So let’s say, for example, you were looking at purchasing some Apple stock. Well, what you would do is type in the search bar, Apple, or the symbol, which is AAPL.

Then you’re gonna go ahead and click on that stock, and I wanna show you what information you have available to you here. First of all, you can look at a basic price chart to get an idea of the price movement over set periods of time. And if you’re somebody who relies on technical stock analysis, you simply click this button, and it’s going to show you a candlestick chart instead. After that, you get statistics here about trading volume, 52 week high, 52 week low, dividend yield, and different things like that.

Then we have the newsfeed with relevant information and news surrounding that company that has just come out.

After that, you have analyst ratings, which shows you what wall street analysts think of this stock. So in particular, looking at Apple here, 58% view it as a buy, 33% view it as a hold, and 10% view it as a sell. So for free everyone out there for many stocks is going to see this section here that has a little bullish and bearish thesis on the stock. So for example, the bullish perspective is why people think the stock is gonna go up, and the bearish perspective is why people think the stock may go down. Now, this is a very short, simple explanation.

If you want a longer one, you can unlock research reports from Morningstar by signing up for Robinhood Gold for $5 per month. That’s gonna get you a couple of different perks as well, you get larger instant deposits, you’re also gonna get level two market data, which is going to show you more buy and sell orders, and give you a better idea of what that stock is going to be trading at an instant point in time.

And it’s also going to give you access to margin trading if you want to invest with borrowed money. But to me, the biggest advantage is if you want to get those Morningstar research reports, you’ll get much more in-depth information about that company to conduct your research. After that, if we scroll down more, we get an earnings calendar or an earnings chart that shows us whether or not Apple has been beating, meeting, or falling below earnings expectations, lists, and then we have suggested stocks based on what people own as well when they also buy Apple.

There’s also history here, which shows you guys that I have owned Apple in this portfolio in the past. So if you’ve owned stock in the past that’s gonna show up down here. There’s an about section that tells you more about Apple, and then of course you have the trade button if you want to purchase or sell your shares. But there is a lot of great research tools, right here within Robinhood.

However, if you’re looking for more advanced stuff, you find you have to utilize other brokerages out there for advanced trading tools, paper trading simulators, and different things like that.

So it has a lot, but some may find it limiting in terms of the features that they may be looking for, and so you might have to look elsewhere for more sophisticated tools and research things like that.

So now I wanna show you guys how to set up a watch list on Robinhood. So let’s say, for example, you’re just getting started with investing, and you wanna keep an eye on a couple of different stocks or funds, but you’re not quite ready to pull the trigger. What you’re gonna do is scroll down here to the lists section, and then you’re going to create a new list, and then you’re going to give it a name and set an icon.

So I’m going to call this one Stock I Am Watching, and then I’m gonna set an icon here, and it looks like you have a couple of different options, so let me do like the monkey emoji, ’cause that’s kind of funny.

So there we have a new list called Stocks I Am Watching, and now I’m going to add stocks to that list. So let’s say, for example, I’m keeping an eye on Tesla, Microsoft, and Netflix, I’m gonna add those three stocks now. So you would simply type in the name of the stock and click the plus icon, that adds that to my watch list. Do the same thing now with Microsoft, add that, and then I’ll do the same exact thing here with Netflix as well, and add that to my watch list.

So now if I click the X, I now have created a watch list of Netflix, Microsoft, and Tesla.

And you can also sort this by symbol, price, and percent change day today. So that is how you would create a watch list if you’re looking to keep an eye on a number of different investments. Now, also guys, you will find this messages tab here on Robinhood, which is just giving you notifications. So when you sell, or buy a stock, or earn a dividend, or anything like that, it’s gonna show up over here on the messages tab. And then finally all the way to the right where you have the person icon is going to be your settings.

In here, you can invite friends, if you wanna earn more free stocks, you can take a look at your different balances and get an idea of your total asset allocation between cash, crypto, and stocks, and options. It shows you your instant deposit limits, pending deposits, different things like that. And it will also give you an idea here if you are utilizing margin, whether or not you have a healthy amount of deposits, or if you’re at risk for a margin call, but it’s a little bit above and beyond the scope of this video. You can also transfer, as you saw, that’s where you transfer money in and out of Robinhood from into your bank account. You also can set up auto transfers here if you wanna do this on a regular basis, understatement, and history, this is where you’re going to get recent history in terms of your buy and sell orders.

This is also where you would go to get your tax documents and monthly account statements. And then other than that, you have your settings. If you want to turn on and off Robinhood Gold, set up subscriptions, and change different settings within the app. The last thing I wanna show you guys is how to turn on drip or dividend reinvestment. So if you do end up buying stocks that pay dividends, assuming you have fractional shares turned on, which you have to turn on when you actually purchase that stock by purchasing in dollar increments, rather than whole shares, if you have fractional shares turned on, you can also do dividend reinvestment for free, which is going to allow you to reinvest dividends in $1 increments back into the issuing stock.

So in order to do that guys, what you’re going to do is click on the investing tab, and you’re gonna scroll down, and you’re going to see where you have dividend reinvestment disabled. All you would do is click on enable dividend reinvestment.

I don’t have any dividend stocks in this portfolio, so I’m going to skip that for now, but that is how you would go ahead and do that. So anyways guys, there you have it, that is a step-by-step overview of how to buy stocks on Robinhood. And also pretty much probably answers all of the other questions about how this app works for a complete beginner.

Like I said if you wanna support me for putting this video together, and you’re opening up a Robinhood account for the first time, feel free to use my link below, and basically, at zero additional cost to you, it puts a little bit of extra money in my pocket and allows me to make more helpful videos like this on YouTube.

So again, that is never expected, but always appreciated, and I am affiliated with Robinhood. If you guys found this video to be helpful, please drop a like and subscribe, and hit that bell for notifications, and also feel free to leave me a comment with your thoughts and feelings about Robinhood, or any questions that you may have, or topics for future videos. But thank you so much for tuning in guys, and I hope to see you in the next video, and happy investing.

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Scaramucci: Exponential Demand Will Grow Bitcoin To $100K By Year-End | Interview

Video transcription

Anthony Scaramucci is the CEO and founder of Skybridge Capital, an investment firm with around 7.5 billion dollars under management. He also briefly served as the white house director of communication during the trump administration. Last year, Skybridge capital launched its first Bitcoin fund with an initial investment of 25 million dollars. Since then, the company has continued accumulating digital currency. We now have probably 650 to 700 million dollars worth of Bitcoin across our product portfolio. Skybridge was the latest firm to apply for a Bitcoin ETF with the U.S security and exchange commission.

Scaramucci is convinced that Bitcoin could realize its full potential sooner than we expect it took Amazon almost 20 years to reach that same market value. I think it’s moving faster than Amazon, Google, and Facebook in this episode Scaramucci breaks down his investment thesis on Bitcoin and explains how the main cryptocurrency will reach 1 billion users by 2025. Welcome to another exclusive Cointelegraph interview.

First of all, Anthony how did you get involved with crypto?

Well, I mean to shorten up the story. I met with the wiggle bosses in 2012 once again in 2014, I was a Bitcoin skeptic. I have to confess that it took me a while to understand the protocol, the technology, and the expansion of the network. When I left the white house after I was fired in July of 2017, I bought the URL skybridgebitcoin.com because it became clear to me that the Chinese were going to digitize their currency.

Eventually, US will digitize it’s currency and I thought that Bitcoin would be a gateway, and perhaps sit as a protocol on a platform where you could switch in and out of these currencies using Bitcoin as a potential standard. And so I didn’t start buying. These coins, though, until I was confident that the network itself was scaling, and I had it in my mind that once the network got to 100 million users, that was enough scalability for me, I didn’t want to be too late on it, and so today I think we have about 125 million users of Bitcoin 46 million here in the united states and back in October of last year, we started accumulating a position.

We now have probably 650 to 700 million dollars worth of Bitcoin across our product portfolio and we have a dedicated Bitcoin fund. We also have a dedicated Ethereum fund and an ETF that’s dedicated to the ecosystem of publicly traded stocks around what we call decentralized finance. Okay, that’s interesting so now I would like to know:

gold round coin on black laptop computer
Photo by Karolina Grabowska on Pexels.com

How did your experience at the white house influence your decision to embrace these technologies?

So you know listen, I was with the president in the campaign. I was also a member of the transition team. I helped staff the personnel at treasury alongside secretary designers, Stephen Mnuchin, and for a three week period of time in June of 2017, I was at the XM bank as its chief strategy officer, so during those times in meetings, there was broad-based discussion about what the Chinese were doing with their currency eventually would be doing, and what the United States would need to do to stay competitive, and it just became clear to me again.

It’s four years later neither the United States or the Chinese have digitized, but I predicted they will inside of the next decade, and with Bitcoin being where it is, and the scalability of Bitcoin. I thought it was important for us to be a part of all this. So now, let’s talk about the Bitcoin markets, we saw an impressive bull run a few months ago. Then we had a significant correction and now we are seeing the price of Bitcoin rising again.

What is your view on the current situation in the Bitcoin markets at what point of the price cycle are we at the moment?

Well, I think I want to step back before I address it. I think we’re in an early adoption phase of this digital phenomenon, and so you have something like two percent saturation if you say, there are: seven and a half to eight billion people on planet earth and there are 125 million users so I think we’re very, very early innings, and if Kathy Wood is correct, that I think she will be have something like a billion users by the end of 2025.

So recognizing that and studying other securities or other investment ideas that track madcap’s law in terms of exponential growth, there’s lots of volatility. There was volatility in Facebook when it came to public volatility in Google volatility in Amazon. Amazon is one of the more amazing investment stories. A ten thousand dollar investment in Amazon on it’s IPO may 15 of 1997 is worth 21 million 140 000. Today, yet you would have had to subject yourselves to eight times or Amazon dropped 50 percent and so Bitcoin is 12 years old. It’s still maturing and it’s still in early adoption, so I expect a lot more volatility. Having said that, this is an asset that’s gone up anywhere from a hundred and fifty to two hundred percent per year.

You just have to step back from it, if you’re managing it day to day or you’re thinking about it week to week, even I think, that’s quite dangerous and so to me. I see these coins being worth 500 to a million dollars a coin over the next five to ten years. So entry points below 50 000 or 60 000 are very attractive to us, and so we try to buy coins every month. As we accumulate cash in our portfolios, we sweep them into Bitcoin, that’s not to say that Bitcoin couldn’t experience another 50 percent drop as it did in May of 2021

To me it’s very early, there’s more upside volatility, more asymmetrical upside volatility, Bitcoin, but again you have to look at it over a multiple-year period of time, if you’re managing it week to week, you could get caught in a downdraft and of course, if you’re shaken out during a downdraft you’ll be sorely disappointed.

So now I would like to dive a little deeper into this comparison with Amazon. It didn’t take Amazon, 10 years to become a globally recognized company with a lot of use cases, while Bitcoin seems to be a bit slower because it’s been already 10 years and we cannot say that Bitcoin reached mainstream adoption. Don’t you think so?

No, you know, I actually don’t think so, because you know look at where Bitcoin is today: the 800 plus million dollar market gap. If you go back to when it was trading. At 65.000 Bitcoin reached a trillion dollars in market capitalization in 12 years. It took Amazon almost 20 years to reach that same market value that same market capitalization. I think that we got to go back, it’s easy to see Amazon as established as it is today, but I’ll take you back to year 12 of Amazon, which was 2009. Amazon had dropped 90 percent.

There was an article in the paper, Amazon being 12 years old, Amazon bomb, that this company was not going to make it, and so we see Amazon today at age, 24, with its capacity and it’s standing and it’s lacking volatility on a relative basis compared to its historic volatility, so, you know to me: Bitcoin – is moving faster and I think it’s moving faster because it’s decentralized, there’s no corporate office, there’s no c-suite, where there’s that intrigue and bureaucracy and the weaknesses of human beings.

This is a decentralized protocol, decentralized network, it’s amazingly efficient, it hasn’t been hacked, it’s been attacked for 12 years, there’s been 8400 or so coin. competitors of Bitcoin and yet Bitcoin remains the apex predator in the space so uh. I don’t see it that way. I think it’s moving faster than Amazon, Google, and Facebook actually, and you know, I can just prove it to you by the charts. Okay. So now I would like to talk about institutional adoption after major players like MicroStrategy and Tesla get involved with crypto months ago.

We are seeing the institutional flow coming into crypto slowing down a bit. You also said that the institutional adoption story is overhyped. So can you expand a little bit on this thought and when do you think that we are going to see the next wave of institutions coming into the space?

Well. I do believe that and that’s also grounded in evidence, if you ask somebody like Larry Fink from black rock, he would say that his clients have very little to no demand for Bitcoin. If you go to the large-scale institutions, there’s a general reluctance to adopt now the good news is we’ve had some recent wins in the community. Ray Dalio, who was a skeptic now is an investor dan Loeb running a 25 billion dollar hedge fund was a skeptic he’s now a Bitcoiner, Steve Cohen at point 72, the same thing, and of course, there’s paul, Tudor Jones, and Stan Druckenmiller. So there are very smart people that have institutional scale, assets that are in Bitcoin, but the very, very large pension funds, the endowments the public employee retirement systems. I would say they have small to little interest in Bitcoin at this time and I think that’s a scalability issue and it would be the same thing for many of those stocks that we just mentioned.

Those fang stocks today which are making up trillions of dollars of the overall market gap and a very large weighting of the sp 500 in the early days as they were being adopted, very few institutions were willing to buy them, and so institutions have a tendency to be the latest of adopters to an investment story and, you know listen last year at this time people were talking about institutions entering the market. There was a fever pitch of that discussion in January of 2021, but the evidence just hasn’t borne that out. We don’t have large-scale institutions now. The good news is many of the banks were in the early stages skeptical of Bitcoin are offering Bitcoin products. You know Jamie Dimon as an example was once a critic of Bitcoin.

They now have a series of Bitcoin and other crypto offerings at JP Morgan. That would be the same for Wells Fargo, and Bank America. So the very good news is the process itself is starting and the institutional demand, I think, will emerge. But if I’m guessing, I still think we’re two to three years away from that.

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Photo by Roger Brown on Pexels.com

In your opinion, what exactly is preventing pension funds large endowments from getting involved with cryptocurrencies in Bitcoin?

Well, you know It comes down to not wanting to be embarrassed. If Warren Buffett is saying that it’s rat poison, and then they ask him again, he says no. I was wrong. It’s rap poison, squared his 97-year-old partner says it is the greatest destructive force in our civilization, and you are an institutional investor whose number one personal priority is not to lose your job. Why do you need to be putting money into Bitcoin when some of the elder statesmen in the investment community are saying things like that, and so until Bitcoin is more saturated until there are more wallets until there is more activity across the Bitcoin network and other cryptocurrency networks until there’s a more robust exchange business, whether it’s XTF and Coinbase and Blockfi, and these companies that are working in D5. I don’t think the institutional mindset, the psychology around somebody, that’s working in an institution, is going to stick their neck out and be willing to take the risks that say an entrepreneur like myself or you know you mentioned Anthony Pop Piano, who I have a tremendous amount of respect for he’s a young man in our industry with an old soul, and I think he really does see the future correctly.

I think it’s mainly a generational problem. I think, with more and more millennials getting into positional powers within these institutions. We’re gonna see more and more of these institutions coming into the space in the next few years. So now I would like to talk about one of the most important stories of the latest few weeks, which is the crypto tax bill.

What do you think of the current status of the crypto tax bill? Should the crypto community be satisfied with the results?

I am actually satisfied because I’ll start out by saying the good news is the Senate itself is accepting the idea of cryptocurrency and the existence and long-term durability of Bitcoin. One of the old-timers said to me: this is reminiscent of the junk bond market in the early 80s. In terms of the regulations that were put in place in the junk mine industry, it was a new asset class people were super familiar with it.

Some people were frankly scared of it and when the administration, the congress, the house, and senate, tried to regulate it, it was assigned to everybody that they were accepting it, and so, even though those amendments were dropped and of course I was in favor of the more progressive amendment that senator Loomis and senator Portman And Wyden were proposing, but when those amendments got dropped and we’re now in a situation where there’s a lot of interpretation necessary by the treasury, I take that as a good sign. I think that that is a sign to the American people into the world that US is going to have a presence in crypto and is allowing these cryptocurrency platforms to exist in the United States.

That’s interesting! What do you think about these controversial points that were the center of the debate, so mainly the definition of a broker? The fact that the definition of broker in the bill is too wide – and it includes also miners, node, validators transaction validators, and categories that should not be forced to comply with this tax reporting requirements. What do you think about these controversial points?

Well, it’s not, it hasn’t been decided yet remember that bill also has to go through the house of representatives, and so there’s going to be ample opportunity for coiners and lobbyists associated with coiners to have some input and I’ll just point out when it looked like It was going the wrong way for the Bitcoiners or, let’s say crypto and moss. There was a tsunami of people calling the congress, I’m of the opinion that there’s lots of room for interpretation and lots of room for an activity for lobbyists in the crypto space. The minor space, the Bitcoin space, to have an influence on what the final definitions are, what the final rules will be, and how they’re interpreted. I will also say that I was amazed by the bee swarm of activity by people that are interested in digital assets, calling congress and influencing the members of congress there’s nothing more powerful frankly in the American legislative process than thousands, if not millions, of people lighting up the phone lines in Washington, letting people know what their feelings are on a topic.

Scaramucci: Exponential Demand Will Grow Bitcoin To $100K By Year-End | Interview 2

Now, let’s switch the topic to the environmental impact of Bitcoin, so you claim that Bitcoin mining will be fully relying on renewables by the end of the current decade. How are we supposed to get to that point?

Well, let’s start out by saying that the Bitcoin mining council now has it at 56%, and so one of the ways that we’re going to get there is through the natural ESG regulations that are being put in place by most of the major governments. The fact that the Chinese have gotten out of the mining business and removed Bitcoin from their society has eliminated a lot of those cold flyers electricity plans that have driven Bitcoin mining – and I think people like me that are in the industry that are supporting the Bitcoin network with nodes are doing what we’re doing, which is buying large-scale carbon offsets.

We bought enough carbon offsets now. It’s guybridge to make our funds carbon negative, not carbon, neutral, and. you know today is 2021, that’s nine years from today. I think that there will be a steady progression of people and incentives to move Bitcoin into what I would call green renewable non-carbon admitting energy, and so it’s already happening. I bet you if you and I have this interview three years from now – we’re at 56 percent, now my guess is we’ll be close to 75 in the next two or three years.

So let’s talk a bit more about these carbon offset strategies, as you mentioned, Skybridge capital recently bought a large amount of carbon emission offsets in order to compensate for the emissions produced by your Bitcoin holdings. Still, there are a lot of environmental activists that say that carbon emission offset strategies cannot be a substitute for the direct reduction of emissions and that a lot of companies are using carbon emission offset strategies as an easy way out in order to continue producing these emissions and not solving the problem at the roots.

What do you think about that?

We absolutely agree with that. I’m not even suggesting that it is I’m suggesting it is a small measure. It’s a small step to help the current situation. In the current environment, the right steps will be to move our automobile industry airlines et cetera everybody into the world of renewables. We have to protect the planet. We put the planet at risk, now, 150, 180 years of carbon admission and seven and a half to eight billion people. We put ourselves in a very dangerous place, so I’m not making light of it and I’m not poo-pooing, oh well. I bought carbon offsets therefore, I’m environmentally sound, I’m not saying that at all. I am saying, though, we are taking that measure as a short-term step to a much broader long-term measure.

Okay, so let’s go back to the markets now I would like to know what is your price target for Bitcoin for the end of 2021?

Good question, so I started the year with a 100 000 price target when Bitcoin was at 65 000 in April, it seemed very likely and then Bitcoin went to 29 000 and now it’s back up to 45 000 There are four plus months to go roughly three and a half plus months to go in the year. I still see Bitcoin nearing a hundred thousand. I’m going to stick to that price point. I think it’s a combination of factors, but the bottom line. If you have a limited and fixed supply of Bitcoin and you have every month exponentially, more demand, and so, as long as I see those prices rising, so we’re going to stick with a hundred thousand dollar price start.

Researchers at Skybridge Capital predicted that Bitcoin will reach 1 billion users by 2025.How are we supposed to get there? What does Bitcoin need in order to reach that benchmark?

Well, you know on the margin, there are always some technical improvements. All of these cryptocurrencies are going through levels of upgrades to Bitcoin. The network recently upgraded some protocols related to Bitcoin, but I actually just see it in terms of interest and demography, and so I’ll just point out to you that our children I have adult children, I have five children, some of them are young, but my adult children, age ages range from 22 to 29 and I can tell you that they’re fully versant in Bitcoin and fully person in what I would call the crypto ecosystem.

Just imagine those people 10 years from now at 39 or 49, how conversant and how easy it will be for them. and I will say this to you – that this is a technology and a product of the future and the future is going to come more quickly than people expect and that’s really what’s going to drive the price and drive the exponential growth as younger people get older and take positions of power. They’re gonna have accounts related to Bitcoin and other cryptocurrencies.

Scaramucci: Exponential Demand Will Grow Bitcoin To $100K By Year-End | Interview 3

1 billion users by 2025 How much would Bitcoin be worth by then?

Well, you know, I would say the low end of that would be 500 000, a coin, but the higher end of that could be upwards to a million dollars a coin by then, but remember. We don’t have to do that. You know, let’s say that we got to 750 million users or 700 million users. These coins could easily trade in the 250 to 300, 000 dollar range, and so, if you just take where prices are today, and you maintain your patience and your long-term perspective, I think people will be well rewarded that own Bitcoin today,

The final question is About Ethereum, we started to launch an Ethereum fund not long ago at Skybridge capital and you’re also planning to apply for Ethereum ETF. What is your investment? This is about Ethereum. How do you think Ethereum will evolve alongside Bitcoin in the next few years?

Well, I like Ethereum, I think that if you look at the digital applications associated with Ethereum and Ethereum’s use case, There’s. a tremendous amount of demand for Ethereum, but remember Ethereum is not a fixed supply currency like Bitcoin. There’s some latitude in terms of the way Ethereum is going to be produced over the coming years. but there’s also going to be a proliferation of use cases, and so, as we see the NFT markets explode and we see Ethereum as the backbone of those NFT markets.

I think you could see a ten thousand dollar coin. Having said that, some people have suggested to me that there are coins out there that have faster clock speeds that are cheaper to transact in and in fact, are greener. So anything is possible. You know that we at one point were super excited about a copy machine and then that proliferated, we were super excited about the world of faxing. Now, of course, all of us have the ability to fax off of our smartphones, and so I’m not saying that Ethereum is going to be a permanent forever use case transaction currency. But I do see over a multiple decade period of time there being a tremendous amount of demand for Ethereum. I just don’t see it eclipsing Bitcoin, primarily because a Bitcoin standing and the brand frankly associated with the Bitcoin network is awesome thanks, Anthony. That was a great conversation thanks for coming on our show. Thank you very much. It’s great to be here.

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Tanzania’s First Female President Wants the Country To Go Crypto

Samia Suluhu Hassan, the president of Tanzania, is striving to embrace cryptocurrency with open arms. This move follows that of El Salvador adopting Bitcoin as legal tender

No doubt the World Bank will not be happy with yet another developing nation jumping on crypto. However, when large swathes of your population is unable to take advantage of the world’s technology boom, any way of jumping in seems like a good idea. While Tanzania doesn’t want to adopt Bitcoin as currency right away, President Hassan directed the Bank of Tanzania to prepare for crypto to come to the country, saying they should be ‘ready.’

At the same time, actual cryptocurrency traders in Tanzania remain bearish on the president’s desire for Tanzania to go crypto. Their experience has taught them that there is nothing like experience.

Education is the key

They’re right. Cryptocurrency education should be the prime focus, and many believe that it should come from the country’s central economic authority. Especially when the nation has such a young population, it’s easy to see why the government is on board.

One challenge President Hassan faces in Tanzania is overall crypto acceptance. Much of this relies on education and bipartisan support in the nation. One important note is that President Hassan took power after the late former President John Magafuli died from heart complications on March 21, 2021.

It is unlikely that former president Magafuli would have been as open to adopting crypto, citing his notoriously hard political stances. So far, President Hassan has not mentioned anything regarding environmental concerns. Developed nations are saying the same thing, but most of them are focusing on creating their own digital fiat coins.

In a nation primarily focused on agriculture through overwhelming dependence and is classified as a “lower-middle-income economy. In 1985, the nation began transitioning from a socialist-based command economy to a market economy. After this overhaul, Tanzania’s GDP increased in 2014 by a whopping 1/3 to $41.33 billion.

If the country’s desire to become economically viable in the modern geopolitical landscape continues, then adopting crypto makes sense. However, just like El Salvador, which has a notoriously low internet connectivity rate, Tanzania faces similar socio-economic issues. A plan to adopt crypto en masse in the nation would have profound reprocussions, and no doubt many people would be left out of the loop while a select few see the most gains.

Conclusion

As more developing nations realize the potential from cryptocurrencies such as Bitcoin, the push to get crypto exchanges and services will elevate the crypto world. Only time will tell developing nations going crypto will have adverse effects.

While the World Bank might be scared of cryptocurrency’s decentral nature, the United Nations is not. The international body believes that researching blockchain is a step in the right direction. What kind of support would Tanzania receive from the UN on this?

That’s a good reason to watch this story closely.

If anything, a little bit of short-term economic pain might yield massive economic gains for places like Tanzania over the next several decades. Crypto has a high barrier to entry for anyone. It doesn’t matter if you’re a country, a company or an individual.

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Bulls And Bears Fight Over $34K Bitcoin Price As $445M Options Expiry Looms

 

Bitcoin (BTC) has been ranging from $30,400 to 36,400 for the last 12 days, and it has been difficult to pinpoint the exact reason for investors’ lack of appetite. Some analysts have pointed to the Grayscale Bitcoin Trust (GBTC) unlocking in mid-July finally giving institutional investors a chance to offload their funds, but this is not likely to be the main reason.

Meanwhile, industry leaders have suggested that the “crypto regulatory crackdown” taking shape in the United States is severely impacting investors’ sentiment, and this view is especially problematic considering China has recently banned all crypto mining activity in the country.

Lastly, renowned Bitcoin critics, including Aswath Damodaran, professor of finance at New York University’s Stern School of Business, have claimed that the cryptocurrency “failed miserably” as a currency.

Damodaran specifically cites Bitcoin’s limited use in microtransactions, even though El Salvador is pushing forward with a plan to democratize the Lightning Network solution.

Bulls have a better chance of winning the weekly expiry

After bears had a victory in the recent quarterly $3-billion options expiry on Friday, the winds may have shifted the tide favorably to bulls this time around. While the $34,000 level presented a $310-million advantage for the neutral-to-bearish put options last week, this upcoming Friday, July 2, holds an entirely different setup.

Aggregate July 2 Bitcoin options open interest. Source: Bybt

The initial picture paints a neutral structure, with the neutral-to-positive call options open interest dominating by 8% as per the call-to-put ratio. Out of the $445 million in open interest, $230 million is represented by the neutral-to-bullish call options, which gives a slight advantage to bulls. However, looking at more granular data provides a different angle.

Related: Crypto traders say negative funding rates are buy signals, but are they?

Only 18% of the protective put options have been placed at $33,000 or higher strikes. Therefore, if Bitcoin is trading above that level at 8:00 am UTC on Friday, only $38 million worth of those neutral-to-bearish instruments will last.

$34,000 is the make-or-break level for both sides

On the other hand, bulls will likely try to defend the $34,000 level, resulting in $45 million in call (buy) options open interest.

Truth to be told, both sides have incentives to break this reasonable equilibrium at $34,000. For example, above $35,000, bulls’ advantage increased from $7 million to $57 million.

Conversely, bears have the upper hand if Bitcoin trades below $33,000. In this case, protective put options open interest is $31 million higher than the neutral-to-bullish call options.

To sum up, it is impossible to predict whichever side will come out stronger on Friday’s expiry. However, this is the first time in over four weeks that bulls have a decent fighting chance.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

 

 

 

 


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NASCAR Star Landon Cassill to Receive Salary in Crypto

Landon Cassill has partnered with crypto payments firm Voyager to receive his salary in crypto for the remainder of the 2021 NASCAR season. Most of his salary will be paid in Litecoin and Voyager tokens. 

NASCAR Driver Adopts Crypto 

Landon Cassill will receive his salary in cryptocurrencies.

The NASCAR driver has partnered with crypto payments company Voyager to receive his paychecks for the remainder of the 2021 season in digital assets. NASCAR announced the update on its website Thursday. 

Voyager is now a sponsor of the NASCAR driver and his team JD Motorsport. The firm will pay him entirely in cryptocurrencies, most of which will be Litecoin and Voyager tokens. 

Cassil is reportedly an avid cryptocurrency fan and a long-time user of Voyager’s crypto exchange and wallet.

Commenting on the partnership, Cassill said that “there is risk in holding cryptocurrency as there is with any stock or any investment,” but that he had “a good handle” on how to approach that risk. 

The CEO of Voyager and Cassill’s friend, Steve Ehrlich, added that the partnership would help crypto education and the growth of both brands.

NASCAR’s first connection with the cryptocurrency markets dates to 2014 when the Dogecoin community sponsored NASCAR driver Josh Wise.

Seven years later, the first “Bitcoin Car” ran the circuits of the Indianapolis 500, otherwise known as the Indy 500. It is one of the most popular motorsport events in America besides NASCAR. Ed Carpenter Racing fashioned the Bitcoin Car this year to spread awareness about Bitcoin. Strike CEO Jack Mallers sponsored the team. The black-and-orange car, driven by Reenus Veekar, finished eighth in the race.  

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Hong Kong Includes Central Bank Digital Currency In Fintech Strategy

The Hong Kong Monetary Authority (HKMA) has published its “Fintech 2025” strategy with central bank digital currencies (CBDC), both retail and wholesale, included in the digital finance innovation package.

Unveiling the fintech strategy via a release issued on Tuesday, CBDCs will reportedly play a part in the city administration’s goal of promoting comprehensive digital finance adoption by 2025.

Concerning its plans for central bank digital currencies, the HKMA revealed that it would increase its research efforts to ensure Hong Kong’s readiness to float both retail and wholesale CBDCs.

According to the announcement, the HKMA is collaborating with the Bank for International Settlement to research a retail digital Hong Kong dollar currency. This research is reportedly examining risks, benefits and potential use cases of an e-HKD currency.

The HKMA also stated that it will continue to work with China’s central bank on cross-border utilization of the latter’s digital currency electronic payment (DCEP) project. Indeed, Cointelegraph reported back in May that Hong Kong was looking to expand pilot studies for the PBoC’s digital yuan.

Meanwhile, the HKMA is also part of a consortium of Asian central banks working on a multiple central bank digital currency bridge. The project builds upon a similar collaboration between Hong Kong and Thailand to create cross-border CBDCs based on decentralized ledger technology.

The expanded CBDC research plan is one of five major focus points in Hong Kong’s fintech strategy. Other areas include ensuring the city’s banks embrace digital finance technology while creating a robust data infrastructure to support the planned fintech expansion.

Hong Kong also wants to support its comprehensive fintech overhaul with government-led policies while also laying the groundwork to develop a skilled workforce for the new digital finance paradigm.

Amid the backdrop of its expanded fintech focus, Hong Kong is also moving to restrict access to cryptocurrencies. The city’s Financial Services and Treasury Bureau issued a policy proposal back in May calling for the government to restrict crypto trading to qualified investors with portfolios worth at least $1 million.

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Gold vs Cryptocurrency: Which One Should You Buy And Why?

Gold vs Cryptocurrency: Which One Should You Buy And Why? 4
Cryptocurrencies like Bitcoin and Dogecoin have created a lot of buzz globally in recent times, and many Indian investors have also jumped on the bandwagon.

NEW DELHI: Indian investors wrestled with a mega puzzle on the auspicious occasion of Akshaya Tritiya this year: Should they buy gold – whose physical form became inaccessible because of Covid curbs, or go for cryptocurrencies – which have gained momentum rapidly over the past few months, as millennials go gaga over it, inflating prices constantly?

Cryptocurrencies like Bitcoin and Dogecoin have created a lot of buzz globally in recent times, and many Indian investors have also jumped on the bandwagon. Meanwhile, gold continues to move sideways.

Of late, Bitcoin has gained acceptance as a store-of-value investment because, like gold, it tends to work as a hedge against currency devaluation and volatility, say crypto market watchers.

Gold pundits frown upon such claims. “The charm of gold has not diminished any bit and it has, in fact, increased after generating double-digit returns in last one year,” said Anuj Gupta, Vice President – Commodity and Currencies, IIFL Securities.

Gupta agrees that both Bitcoin and gold enjoy an inverse relationship with the US dollar and are often being bought to hedge against the greenback.

With the advent of corporate investors such as Elon Musk, the cryptocurrency market is no longer in the realm of only technologists and millennials, who got charmed by it some 10 years ago.

Kshitij Purohit, Lead Commodities & Currency at CapitalVia Global Research, said gold is obviously the first choice for the Indian investor as it has a long history as an investment avenue besides its use as jewellery, while cryptos are new and there is still no clarity about their rules and regulations. “It is still not accepted widely in India,” he said.

Others believe the frenzy over cryptocurrency is posing a major threat to gold. “Gold has lost ground, as investors have flocked to cryptocurrencies to ride the momentum trade. Cryptocurrencies definitely have more appeal,” they said.

Those who back virtual currencies are sticking with them strongly. They find economic value in blockchain technology, which is now becoming more mainstream. Some have nicknamed Bitcoin the ‘digital gold’ due to the scarcity of the coin.

Monark Modi, CEO of cryptocurrency trading platform Bitex, said that before investing in a virtual currency, one must check the purpose the cryptocurrency is aiming to achieve, its vision and which community it serves.

“Bitcoin has a vast acceptance due to its practical value and adoption by various international entities and institutions,” he said.

The rise in gold prices has been very impressive over the past 50 years, accompanying inflation and reflecting higher production costs, as mines get deeper.

In comparison, Bitcoin has been witnessing an eye-popping rally over the past decade, rising from $0.08 at its launch in 2008 to trade above $60,000 till recently.

However, the corrections in this cryptocurrency have been equally steep, and further sharp swings cannot be ruled out.

“Cryptocurrencies have delivered better returns than other asset classes, but one must not lose sight of the sharp volatility,” Purohit said. “Aggressive traders can go for crypto investing to get the better returns,” he said.

Other experts say cryptocurrency can indeed be a good hedging option. But abrupt volatility, lack of pure fundamentals and the anonymity aspect add to the more speculative bets, making it less safe than gold.

“There are not concrete fundamentals backing for the Bitcoin, compared with gold,” said Gupta of IIFL Securities.

“So traders are using Bitcoins mainly for trading and speculations. But gold is always for investment,” said Purohit of CapitalVia. He said one must understand this risk appetite before making a bet in the crypto market.

“The higher returns always look lucrative and attract speculation in the assets but higher returns always along with higher risk,” he added.

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