It’s Still Early To Invest In Crypto Currencies! – Tai Zen & Leon Fu Dot Com Interview

a rare situation is allowing you to buy some ETF stock for 50% off learn more at crush the street comm slash profit 2017 everyone and welcome in to crush the street calm we're doing a a video interview today with two guys I hope you guys like this if you guys do we might make this a regular thing here at crush the street I'm Kenneth a Missouri and I'm joined today with ties n CEO and senior technical analyst of cryptocurrency market along with Leon CTO and senior fundamental analyst of cryptocurrency market and interestingly enough I was I spent like an hour talking to these guys before this call here and they tell me their closest subscribers that they have that are following them are all millionaires and I am blown away this is so exciting to be talking with them today I've been trying to get them on the line here for like a month now and they finally squeezed me into their schedule so ty and Leon how you guys doing today hey great you thanks for having us on your show cross the street man you know we we've seen your show in the past and we really liked it and we was shocked to find out when you guys reached out to us that you live in Austin awfully North often oh man I love how to here you know it's got place to to raise a family and a lot cheaper as we were discussing earlier are you doing Leon hey good to see we got to grab a drink sometime when we get back to the kitchen when we did–we we're out in California in the LA area so when I get back back home well we gotta grab a drink yeah that'd be awesome eyes I'd love to do that well let's get right into it many people feel like they missed the boat here on cryptocurrency and I was starting to tie a little earlier and he caught me saying this morning man I wish I put more money into Bitcoin earlier than I did and immediately he shot that down and said no no no we are so early in this game ty maybe you start off why was I wrong and even saying that though the reason why is because the purpose of currency boom just like Leo and I we started over four years ago back in late 2012 early 2013 we going to click the currency investing right but yeah we'll get this as if it's the beginning of the dot-com boom in the early 90s like it we you know this we've had several boom market booms in the world people call it bubble booms whatever you want to call it it went a raging bull market right now like in the 80s we have the you can always go to PC boom he sees boom yeah yeah and then in the 2003 90s it was DNA or the coms yeah and in the 2000 it was the the gold and silver boom and then in the late 2000s we had a mobile boom right and now we have a cryptocurrency boom right so yeah we spent my career just riding each wave or trying to catch the way trying to be in front always trying to look forward as to what is the next boom like at the last booth I wrote like I I it was doing on iOS programming mobile development I was writing iPhone iPad app since 2010 and because we have the mobile boom so I rode that for a while but then I saw this point I say hey you know what I gotta jump off that way then call ready here to ride the crypto boom alright and we both agreed on this caris we both agree that the click of boom we got included three to five years we have a little discrepancy on wind that starts with a started in 2015 or 16 or 2017 but we always waited in 2010 or 2011 you're not you're not counted on though no well there's been a series of them by like if you follow me on Twitter I'm by my count this is the fifth or sixth Bitcoin slash pick the boom like one point Satoshi Nakamoto launched a Bitcoin in 2009 there was no price the price from zero right for the first year and a half and then mount got started in a bunch of sixth sense and then and then it's the state around six cents for another year right and then we launched off six ten six to ten cents off up to like a dollar and then crack so if you just go look at a logarithmic chart if you if you settle it historical chart of Bitcoin and you change the scale to logarithmic right rather than arithmetic so that you can see the boom the boom the exponential booms you can see that we're in the fifth or sixth boom right now about those major move yeah and so his audience will know what we're talking about you guys want to look at I just go to tradingview comm and you type in the symbol of BTC USD that's Bravo tango USB and you select the mountain got see there's change collapsed but you can go back and look at these because they have more data than all the exchange in early day that is back to the early days so as you go down to the bottom Lightwave is log and click on that and you'll see it in a logarithmic scale on the e to the C gap yeah so so one of the things you guys are doing is you're investing in different crypto currencies and you guys were able to despot Bitcoin significance basically as soon as you learned about it you guys got involved with it and you were like wow this is a big deal so I guess let's start off with how big of a deal Bitcoin is and then I want to get into what what you guys look for when it comes to investing in other crypto currencies that lets you know hey these are a big deal too and we should be paying attention to them are you asking for the secret sauce well I I you know what here here's the deal I found that even when you give people something most people are still going to want to go to you because you guys are the authority in it they're going to defer Authority if you can them everything keep someone how to change oil in a car they'll just still bring it to the mechanic to change it for them yeah so do you want to like a brief history lesson as to how we go how it went like back in like I think we got started in late 2012 early 2013 when we first read this to Toshi white paper or do you want something more recently of what we're doing now anyone let's let's talk about your optimism or your thoughts on where bitcoin is going are we early in the sense that people buying it 20700 are still early and it's going to tend all the technologists and the investors so the audience know that we're from talking funny and that's because they're going after law currently on says this but then these other guys says this so I think we need to okay where are we what should we go over this before we answer that question we just want to make sure that their audience knows the answer what perspective is coming from so right now there are two major major perspectives in crypto currencies so when you talk to anybody and click there currently you have to be aware what stands are they what platform are they standing on okay they're broadcasting their methods there are one one platform or one group of people that will you hear talking about crypto currencies out there and Bitcoin the cryptocurrency your audience there muta cryptocurrencies they may not be aware there's two major groups of audience of cryptocurrency enthusiasts out there okay one is what we call the technologists okay so you want to describe what it does one of the technologists are are purely interested from a technological revolution or and technologist I think it's a little bit too now that's just one subset of these groups of people some of them are political activists some of them are interested in the political aspects at the point of what it may allow some of them are interested in the technology of what what new applications are what new new capabilities the technology will enable and some of it are in it for the philosophy you know and for the ideology right um so that's that's wonderful other people like like then that's what we call the people that want to change the world yeah they're the people that want to change way new technology you know crush the government's and crush up the video dollar and the banking system and ice down Wall Street and take down the man and stuff that's not who we are our channel our channel is up for the other group the other major group are the traders and the investors yeah but people that came into crystal currency to make money they didn't come here to change the world they didn't come in to change the environment or save the whales or any like that okay then all they do after they make the money but not while they're in the crystal states okay so the you guys does the save the world people and then you got the technologies and then you got to be trained as an investor looking to make money and that's when we broadcast our cryptocurrency message that's who we broadcast from is from the training and investing side so so that way your audience knows that hey these two groups of people they all talk about bitcoins and cryptocurrencies but sometimes the ideologies are different I will get from a perspective of how do we make money from this because boom there's new technology so so let's talk about that though a I mean a night I want to ask you but starting with Bitcoin what are your thoughts on it as it stands right now now six months ago it was what triple digits or over 300% in the past year yeah so it wasn't even it and so it's almost three thousand dollars and the question now is is there opportunity that you guys see in Bitcoin what we see opportunity make a price momentum perspective but not only that but real fundamentals do you see more fundamentals entering the Bitcoin space or just more of it going into other crypto currencies that you guys are following to this day the majority of the capital is still sitting in Fiat okay if the US dollars euros the British pounds Japanese yen you know all the big seven currencies they they still before they can get to all the alternates but that money has to still go through Bitcoin as of today I think the only currency you can buy with Fiat is you cerium maybe a little likely on some exchanges but more most likely that the amount of capital that's gonna be coming in to cryptocurrencies have to go through Bitcoin as of as we speak today so yes there is still opportunity in Bitcoin for how much longer or how long um you know that's best but no one I can say those for sure right but to answer your question yes I I think there's still opportunity if you bought Bitcoin today and you held it for say three four five years uh you would probably be pretty happy because it's going to do better than anything else any other investment you might have done as of today right but then about the altcoins I also see that as I also know our longer-term perspective is there's over a thousand new cryptocurrencies already on the market and you want to coming out on a daily basis will one of these eventually sir plant Bitcoin um my opinion as of right now is if that seems to be like a very good possibility you know our personal opinion is you know there's something called a Bitcoin dominance index which just simply as a measure of market share over how much Bitcoin is compared to the total cryptocurrency space and we believe that that continues to trend downward over the over time not that we think the coins going to disappear we're not saying Bitcoin is dead okay we're just saying that the market share of Bitcoin is going to decline even as Bitcoin you know goes to 10,000 and beyond um you know one of the views I have is it's going you know Bitcoin is going to hit say ten thousand 50 thousand a hundred thousand but it may when it reaches those levels it may not even be the dominant cryptocurrency anymore um and that has a traitor and investor we're constantly on the I out like what may surpass Bitcoin in the future and I want to add to that also um I asked what Leon just said you know is that and when we say that there is you know a thousand crystal currencies on the market right now you know what we mean by that is that there are so many coming out that you might as well just say there's hundreds and thousands of you know I mean if you want to get technical about it and say hey there's someone you know 60 clip those on the month right now it might be that today within my next week is about a dozen or two dozen more added so yeah I want your audience to understand that and if we just look at the pure numbers just look at the facts and this is not our opinions okay but if you look at coin base which is the biggest and the most popular fiat to the Bitcoin exchange in America or in our communal but the most reputable one in America okay that's were that we would be comfortable recommending you know or recommending to our users their backlog by three four months that means that even they've gotten so they got a three to four times more users in any time they are able to bring on yeah and they can even answer customer service questions I mean I think about that to think about how if you were to go to a traditional broker such as Scottrade or TD Ameritrade or Charles Schwab and imagine trying to get a customer you send the money like like we send money over there and it doesn't clear and we have a question about it and it takes several weeks you know with all these exchange I'm not saying Queen based specifically but I'll use an example and this is very specific like the Polonius we send some I send some transaction you know from uh to them and it's been like since the beginning of May I still haven't gotten it cleared yet Yeah right and it's not that they're doesn't a bad exchange or anything like that it's just that they post it on that blog that they've gotten six times more users now and they just can't keep up so the demand for Bitcoin the demand for crypto currencies is so high it's not running the infrastructure yeah because they can't handle it it's not that they want to hurt customers or they don't want to answer customers questions and concern this is a base being flooded with so many new users but they cannot handle it and this is not my opinion or lean on the pain or our channels opinion is across the industry of every exchange it's not just coin basis not just baloney acts every exchange is so backlog right now and we've seen this before right we saw this in 2013 we've seen this at multiple times before that that Bitcoin and crypto críticos get the surge of new users that just come in and overwhelm the infrastructure and then then we go into a bear market and then you know the infrastructure catches up a little bit and then we start the cycle again oh and also I just went for security reading at tennis I want to mention this Union right you'll hear it talked about like Colonia XCOM which is a crypto currency exchange or coinbase calm as justin for security reasons on our site at cryptocurrency wor Christel currency market we have an FAQ and we list the names of all the websites that we talk about the exchanges and the correct link because there's a lot of hackers out there creating false websites and getting users to put their names in the you know like fishing yeah like like shape-shift is one of these in exchanges that we use that people ask they want to make a small exchange its shape-shift I oh it's not calm so if you go to the one that say calm or not or Lynette those are hacking sites that will try to steal your money so just to be safe if you here to talk about Polonius or coinbase or whatever exchange that we talked about in this interview if you're not sure what the domain name is make sure you go to website and get hacked wow man I will definitely touch a little more on security in this call here but I thanks for bringing that up I know just so many of us where we're beginners in terms of where we are and what we need to know when it comes to these crypto currencies I remember when aetherium was running and went over 400 and you're talking about Bitcoin dominance I was calculated the market cap all I needed to do was just go to 500 and it seemed like it was going to do it and it would have surpassed bitcoins market cap is Bitcoin didn't move up anymore and a lot of people are saying aetherium is where it's at the we have all these multi-billion dollar operation joining the etherium alliance here and so let's get your thoughts on the Darian's momentum and its future and it's yeah I'm going to speak a little more in general terms on whether it's not be cerium or its Bitcoin efforts ripple or any one of the top ten is going to surpass Bitcoin the districts were clear because we keep throwing the word Bitcoin dominance around yeah and just so that his audience knows could just clearly explain what the answer that so we're talking about it but and all it is is that you know if you go to coin the market tab or if you go to coin Casio which is a competitor of point market cap and you know they just list all the known crypto currencies and their market caps and just add it adds it all up right that's the that's the total market cap of the known crypto currencies that currently exists currently and that number right now is about 111 you know let's just say is one hundred and ten hundred eleven billion bit going dominance is if you take the 2680 that Bitcoin straining out and multiplied by the 16 million bitcoins that's about forty four billion forty four billion out of a hundred and ten billion is roughly let's call that forty percent and that is simply the measure of bitcoins market share I guess you can I guess that's the word way you can do is it's just a percentage of the value of Bitcoin versus every other known cryptocurrency that's on the market and you know that number historically has been 8090 percent or higher up until recently it was just it had just collapsed down to below 50 percent that's that's an event that just happened a few months ago so that's what that is now where I believe though is that we believe Kryptos over the next long term five ten years is going to reach the trillions I mean if you consider like gold is how the seven trillion currencies all the major currencies in the world is worth about a hundred trillion we call these asset classes bonds real estate precious metals you know you know stocks you know all this stuff are what we call major asset classes and they're all measured in the trillions the total value of all of these are measured in the trillion so our investment features as here a triple currency market is we believe through the currencies will reach multiple trillion dollar market caps in the long run now but we don't know exactly note what that's going to consist of those things it could be Bitcoin it could be a cerium or it could be something that has yes and come into existence right so if we call it we have a hundred billion today and we're going to a trillion that's 10x move there's still 900 billion ahead of us the value that's going to be created in in the future that doesn't exist today but where is that value going to go right what what vehicles is that value going to be created and is it going to be Bitcoin is it going to be cerium is it going to be something that doesn't even exist today and that's what our channels about our channel is about allowing investors and traders to capture the growth in the cryptocurrency assets so yes I do think hiriam to answer the question do I believe it's cerium is going to surpass Bitcoin there's a very high probability that that might happen not that that but you know that's it not that it will but you know should you have some a cerium in your portfolio definitely you need to have a position in etherium you need to have a position in Bitcoin because no one knows the future but we don't need to know the future right you know we don't actually need to know the future you can use investing strategies and a little bit of statistics and a little bit of math to construct a portfolio where you will capture the majority of the games that is coming in the future if our thesis is corrected if cryptocurrencies do emerge into the dominant asset class into a major asset class you don't actually need to know what is going to be next – in order to capture those games you know that's a that's a really good point and you guys are amazing at being on in front of the market and having a pulse for it the thing that the average person is experiencing now is the benefit of the wind at our backs in this bull market everything is going to be almost dark set things and make money which if you did it just even a few months ago but is and I just want to drill you on this and ask you how confident are you guys in your strategy if we did go into this bear market you know that 2013 display we absolutely are going to lose money I mean I mean if we go into a 2014 bear market you know I think it took about a year to bottom out where 2014 we've lost about 80% overall money on 60 70 80 % somewhere along the line and you know 2015 was pretty much flat and then towards the middle and end of 2016 we started you know we started going off we started you know making the recovery right um where you are absolutely going to lose money in if we go into the bear market but that's your risk management that's the point line you don't keep all of your money but we have never said to put all your money in cripple never and our clean uh some of us did I did not do that okay I did not put more than 10% of my total net worth in Kryptos okay I never and every any time somebody asks me should I put my money in Bitcoin I said yes you should put some of your money in Kryptos but I've never advised anyone in the entire four or five years not some people didn't listen to me and did it anyway but and it means it's made out great you know you got lucky you know but realize that we will have a crash we've had multiple crashes we will crash again it is not a straight line between you know when I say that we're headed to the trillion that doesn't mean if a straight line up or even it's more like up and then a crash and then up and a crash in each one of these crashes you're going to lose eighty ninety percent of your money you're going to you know when when cm DC's had posted an article saying yeah if you put a hundred dollars or a thousand dollars into Bitcoin six seven years ago today you have like seventy million a hundred million something like that but what they didn't say is you lost eighty ninety percent of your money five or six times along the way like it it's absolutely possible for you to go from a hundred bucks to a hundred million dollars and lose 90% of your money for three to four or five times while you got to that 100 million okay this is just to add to that you know you're saying you know only small portion you know you know many of our flowers know you know from our channel know that you know I put all my life savings into crypto like when I started he only put a small fraction in right but I put all my life savings in it and I just want to make this disclaimer in Canada so people your audience doesn't think that I'm just a crazy gambler or something like that okay I was inexperienced stocks futures and Forex trader already before I got into crypto okay and when I read the Bitcoin white paper I did not look at it as a like trying to cash or a new currency or like a lot of libertarians believe you know I looked at my technological perspective because I always have trouble getting my money out of the brokerage account it would take like several weeks to clear the transaction debugging to pull my funds out of my fact trading account and when I saw that Bitcoin has a technology that cleared and settles transactions immediately or almost instantly now it's not but back when in 2012 when I first saw and heard about it in 2013 we were testing it it clears transactions almost like instantly you can say it's almost instant because it was doing it so fast and I saw the value in that I that's like you telling me that hey you know what we have gasoline cars right now and now you know we got that you just invented a new engine that you know you just pour water and spit into it or urinate into it and influnce when get a hundred miles per gallon of water or urine or something like that I would put my life savings into that because I see the value in that so that was the reason why I put my entire life savings into crypto that's when I started not because I was a gambler I was taking a residence I saw the value in it because I was already trading and I saw how fast it can sell Oh a tramp a financial transaction that's the reason why okay that that is powerful well then tie I have a follow-up question if you wouldn't mind would you let us know how you diversified your portfolio to the sense of you were a hundred percent a few years ago and have you brought it down take it some money off the table to say hey absolutely absolutely you cannot like you know like we have a lot of we see a lot of our colleagues on you too you that they talk about cryptocurrencies and stuff and and sometimes you know hold on to itself we are a firm believer that you know we're from the trading investment side you can't say that you're a profitable trader if you don't ever take profits right off paper yeah comprising yeah we we pay a monthly bills or personal expenses are you know business expenses everything we pay with it comes from the profits from crypto okay so everyone on our team that pays their expenses you know then they're paying it from the profits from crypto so we have to take profits in order to cover business expenses internet expenses I mean just we have a business and my channel to operate than that on your line never had cost money so that has to come from somewhere you know we're relocating to work you know looking for a house in shopping for a house in San Diego that cost money so that has to come from somewhere and you know the reality is that no matter how much money you think you made in Christo you still have to convert it to US dollars in order to buy if you guys can purchase yeah you know so yes we do take profits you know we don't take profits off on everything but if we need to make payments and left extenders and we need to cover expenses obviously we do take profits to do that okay so put the wrong what it is committed to that you want to this this is this is a what you're doing a hundred percent and that I commend you guys for that and being able to do what you guys love but you know when you say that versified oh did that answer your question I'm a diversified as far as like put it in gold and silver and stocks and put it back in the futures market and options markets or I was satisfied with the answer but you know when I was originally asking I was thinking what from a confidence perspective you still feel as confident in having all your money in Bitcoin as you did a few years ago because you think Bitcoin has a lot more to run and not just Bitcoin but some of these other ones all right now it's crazy this day I want to have more confidence putting my money into a doge coin or a light coin versus gold or silver and I put my money where my mouth is I'm not one of those guys that say hey you know you know I believe in gold or I believe in apple sauce and I'm like okay do you have your life savings in it I do you know and the reason why I say that is not because anything crazy if it is a potential for a Bitcoin or a light coin or a big coin on aetherium to grow up I don't we don't have a bias here on our channel of any investment vehicle if you tell us that we're going out the window of the beautiful Southern California Orange County California right now we're look at all these beautiful palm trees in front of this outside the hotel room here right as we're talking to you and beautiful scene and you tell the page hype if you invest into these beautiful palm tree it will give you a hundred percent return in a year we'll do it we have no bias whether Bitcoin you know like coins those coins ripple we just lose matter to it we look at it as okay for every dollar that we can bet into it what is the potential return on investment is what they call ROI and if you tell us that hey dole had form of potential and here's the case for gold or silver or Apple stocks or or Facebook stocks whatever we'll invest into it it's just a matter what is the our own potential ROI and right now we you know another one is the risk yeah with the rivers involved with that so if we put it like every dollar that we have and we put it into gold right now yeah it sounds great it's been around for 5,000 years but we don't care the fact is if we put a dollar into gold today a year of that what is the potential profit and I I on some gold if I get any money into gold it's more I'm not really been looking to make money off that's just for capital is just for capital preservation and spike I just don't want to lose money you know because yell at some point of diversification so so we diversify into uh into crypto and then you know obviously you know there's other things that are that we don't we diversify into businesses is what we like to do is that the money we make we like to diversify it back and build businesses out of it right and that's not for us personally ty and Leon one of the things that I'm getting is that you guys are you know agnostic in terms of where you're going to put your money you want to look for value yeah and a lot of people have said that bitcoin is digital old and equivalent to digital gold but you've also said that you're not a hundred percent sure what direction bitcoins going to you you think it's very the putt possibility the value is is very exciting for Bitcoin but you're not necessarily saying we know 100% and in any local ball no one can make that play that they know 100% are putting their money where their mouth is and say I believe that bitcoin is immutable 100% in equating it to Gold's historical purpose in this world so just let's let's just touch on that real quick there and then I want to move over and close this out with security sure sure so yes it I do believe that that is a possibility now if you tell me those people who said it's absolute it's a foregone conclusion that Bitcoin will become the vision code or will become the dominant cryptocurrency then I'd like to bet against them go away there now that you know like give me some odds like if you are 100 percent certain that that is going to be the outcome or a 99.9 percent certain I'll take a bet against you on that will you give me 1,000 to one odds will you give me you know a thousand bitcoins if you're wrong and I'll give you one Bitcoin in return if you're right I'll take that bet with you you know yeah sure yeah I like like you know put your money where your mouth is if you really believe something is 100% certain that implies you'll take unlimited risk and it's the other way around to me I'm leaving on people say oh this is bitcoins a scam it to a crash is going to go to the hell I responded well shoot it yeah go go if you will need that much that is definitely a bunch of crap you know go long as your house get a loan borrow money from your famine and again so yes this yeah yeah you view that certain right then so when I see here here's a thing we're traders and investors and we don't sing in terms of absolutes we think more in terms of like oddsmakers okay we think about like we're you know we're not 100% certain on anything but what do we believe and how much faith or what do we believe the probability is some event is going to happen and what is the market say what is the risk reward offered by the market do we have an edge is the market saying something that that we think that there's an 80% chance of happening but the markets price that have ability at 40% we think are upside is you know 10 times higher if we're right and you know one you need a risk like what is the potential reward for every unit of risk that we're putting on right that doesn't investor how we think we don't we rarely ever think that I mean we have our opinion but don't get me wrong we have our opinions but we don't we never think of things that we actually know this is correct or this is wrong right and investing that is not the game that is that is not the game it's a game of probabilities it's a game of life all right what might happen or what is a possibility and if that were to happen what would be your return or taking on that risk all right and so that that's the thought process as an investor and that's not what many people in the community think they think it's going you know Bitcoin maximal it's only Bitcoin and we don't think that way because we're investors yeah you know and I just want to say this news channe so it's clearly the audience when I say that's what my life savings into Bitcoin back in 2013 you know keep in mind you know it's not like I had a million dollars back then okay so anyway I had a very limited amount of saving that I thought that I you know put aside and I put it into it because I believed in the clearing and settlement technology I didn't believe I didn't even care if Bitcoin was used as a currency we have a pound of the US dollar we have again we got for the Canadian dollar I mean who cares that we have another one like we got PayPal we got credit cards okay it was the Clarion settlement technology that I invest ensue and keep in mind that when I put it into it and I put it all on Bitcoin it was because that was all I knew at that time I didn't know about the other cryptocurrencies I had just started learning about cryptocurrencies and it just so happened that the first one I learned about with Bitcoin and the energy brokerage firm that I worked at they were they had a Bitcoin on there and I learned about Bitcoin so that was the primary knowledge that I had was around Bigpoint that's why I put everything into it and remember that whether or not you go all-in also depends on how much you happen right now if you just have a few thousand dollars and now you have and you're just starting out okay I can understand you pushing all your money in into Bitcoin or something that you believe in because it's such a grand scheme of things it's such a small amount of money that even if you were to lose at all it you're not really even that much worse off than you were before you know before you did make that bet right if you're just saying you know I'm just out of college or just I just moved out of my parents house and I have a couple thousand dollars saved and okay I lose that money you know I just have to go you know nothing really changed I still have to go to work it up and go to work every day you know there's not a big difference but if you're saying that you know I have hundreds of thousands or millions of dollars then obviously you're not going to push all your money into Bitcoin tower or something else because you have more to lose and it's not worth the risk to lose that right versus where you are if you're just starting out then yeah go go all in on something because you really don't have that much to do what do you have to lose you know I mean I mean if you have a thousand bucks in your bank account and you put five hundred dollars in that on Bitcoin or something but high risk investment you only only try to eat you know unless you you can't lose more than you put in you know most things stop at zero if they don't fall below zero all right so you can't you can't lose what you don't put in and then you only have so little yeah just put it in Bitcoin or something high risk investment if it hits you know you might get a million dollars right and we had one of our clients that were coaching he put in just a very small fresh I mean like is like maybe I think was my thousand those about two thousand it was enough to get in my house yeah so I'm game yeah your downside is that I wasn't that doctor yesterday cerium let's say and you're upside was to three years later you can buy house yeah so to me that for that was it was yeah that is absolutely worth the risk and you know the other the other thing I guess I wouldn't argue with someone with is let's say they did put ten percent of their money into a cryptocurrency and it became 90 percent of their portfolio because of games if they continue to want to speculate I wouldn't say that's be a great idea I would probably put it out yeah but you would think it of putting the other one yeah yeah the only the only thing that I would say to them is the fact that they didn't have to necessarily work for all that money because it's all it always hurts when you lose a lot of money that you physically had to go out and earn an hourly wage for but if all of a sudden they're up hundreds of thousands of dollars in games losing a certain amount of that to me isn't as painful yeah sure and I think most people would agree with and we tell that I've been saying on my Twitter child that hey guys you know I'd be saying this for a couple months is I'm I you know you know when we started Bitcoin the whole cryptocurrency marketplace was about a billion dollars right 1 billion dollars we are over well over a hundred billion today so when we got started the market is a hundred times more valuable than when we first started getting involved in bitcoins so if you had picked random amount of coins you probably up somewhere between fifty to a hundred times your original investment just not even just by randomly picking a few of the well-known things right currencies you're up a massive amount of money and and you know we talked about it about like the marginal utility of money like what is really the value of an additional say five million dollars if you already have five million dollars right right so I think the question is what is the marginal utility of that money let's say you have five million dollars if you got another five million dollars how much more are you going to be able to do with it probably not really that much it's not really much more you can do it ten million dollars then you couldn't do if you had five million dollars right so it's worth it for you to take some of that money off and go invested in someplace safe because the loss in utility if you were to lose that five million dollars it's more than the utility you would gain if you made another five million so that makes us so yes definitely if you're up 50 or 100 times you need to take some of that off and put it in a realistic put it in stock or just leave it in cash or something after the government they would just say you don't need that five million dollars we're going to take that five million more make sure you oxidized if you live in the u.s. you can go to the and they have it button there where you can pay your taxes at BAM yeah and let's just say you yeah let's just say you do have a five million dollar corporal yeah yeah I'm not saying to sell all you know so a million to one ever your situation is and go pay your taxes right go give your class but like this is our view of it yes the capital gains pack the long-term capital gains tax in America is about twenty percent you are basically giving 20 percent the government's fee is 20 percent in exchange for the security of the United States government yeah that that is like you get once you pay your taxes you're entitled to all the legal protections of the United States of America right and that's going to cost you 20 percent 2000 15 to 23 percent depending on how much it is to basically buy those services of the US government yeah they are the aircraft carriers yeah we have the aircraft carrier like that you know we have to pay for that nobody we ought to end up you know you know we got we got the largest military in the world and that's your fee for the services that give us the protections that we enjoy in this country yeah so then while we're talking about he come out of here with a ball-peen hammers yeah that's right okay but okay so little bit I get sidetracked much because I think you asked about security earlier let's make sure we avoid ah yeah because we made a bunch of safe and security that we want to make sure the audience starts to look into Christos then there's some security do you have some questions specific questions about it or do you want to flatten off some specific security that we record that would recommend touched on it I know you mentioned coinbase and some of these other websites being careful with some of the the logins look I'd like upgrade my my security on all the things that I'm doing I know being semi high-profile yeah okay so what was this one we're just going to just do a security dump on you on your channel here okay so this is post from below from the bottom and it will just come up okay just a general philosophy if it doesn't germs indra we we are in the wild wild west stage of crypto currencies it you know is analogous to the runs here in the 19th century in the eighteen hundreds when when you know you got the settlers the the you know the wagon you know people on a wagon day it you knows going out to the Wawa west right that is the state of crypto currencies today okay so the first question is is this safe the answer is always no okay now there are things that are more safe than other things but nothing is safe okay and we thought about this right like people always ask to pay is queen base safe is Polonius safe is using a hard layer always safer than using a desktop wallet is it safer than people always ask this all the time is this safer than this if a shakers and beep okay and these the answer is this okay like he says nothing is safe what is the question that you want to ask yourself is how long does it take for the hacker to get to you yeah so he used if you do it this method it only takes like if you use a human created password for any of your crypto currency accounts it only takes about five or ten minutes by hacker those to figure out what the password yeah they have special software they can just hack into your account and within just a compliment they can just figure out so if you use a password such as you know like Crysis 3 right and you create a big in account or crypto context how you use cross the streets as you think it's cute is your channel and use as a password it's almost guaranteed that the hackers will only take about 30 seconds or one minute yeah to provide identify it so what we view on security is like what is that there's no such thing as secured absolute security what there is such things are you know it's more expensive for a hacker to attack you if an other security procedures that's how we view security security is how many money time and money right if you I you know it are you know before the interview asked is this password manager safe or are password managers safe and I would say no they're they're not safe but it's safer than you trying to remember your password are you creating your password right like you have to ask yourself is not on whether it is a shape but if it's safer than the next best alternative yeah so let's take you some example for the audience will understand right now so look at that you create a password you know such as press the streep of one of your cookbook crust a account the time and money it takes for a hacker to figure that out is about 30 seconds and it cost hardly any money it doesn't even cost any money okay if you create a password using a password manager such as dashlane for a mac computer or key path or key path X or LastPass any of those password managers now it just went from zero cost and 30 seconds to possibly hundreds of dollars and maybe a few decades Michael the hackers you have to make it so that it cost money and time for the hacker to try to steal your crypto currencies okay so now you just went from a minute to like places say ten years of 20 years and that hacker has to happen so is it worth it for me to run my computer pretend years to figure out what the pad after your account when to send much time and money to check the key password the hack back again right so that that's where you have to think of security in and it's the same thing with the clickers that we talk a lot about how you secure your Kryptos right well there's a lot of different ways for you to do that you could keep them on paper wallets you can keep them on your pewter you can keep them on your phone you can buy a hardware wallet you can keep them on exchanges right so you know when you ask yourself is this safe you have to consider about what you are trying to do and how much security you want versus the inconvenience you will have to implement those higher security right and and it's a judgment call it's a German say all right well this is not as secure but I need to be able to Mumbai cripples in and out quickly right or okay this is more secure but it's locked in a safe on a piece of paper if I've ever needed to bring that online it's going to take me an hour to run to the bank and open the safety box pull out my my paper wallets and roll them onto a computer right so you have to understand from a security perspective what are the advantages and disadvantage of each method some things are more more secure but more inconvenient some things are less secure but they're very convenient and so typically what we do in crypto is we use things that are less secure or small amount of money that we need access to quickly and we keep larger amounts of money in using methods that are more secure but take you know our slower would take longer to get to that money would take more effort to actually get access to those funds so that's generally the philosophy or the idea you have to ask yourself every time you ask them is this secure the number number the host I would recommend for security is that everyone use a a password manager and again I'm going to say what the name of the password manager is when you can go to our site at WWE champion market and it felt just like you hear it and go to the FAQ and we have a list of the the wallets and the security services and devices that we recommend anybody use 8 if you're on a Mac you use a dashed line that can be a free or paid service they have different features and then if you're using a PC you can use keypad or you can use keypad X ok key path is an open source of a password manager right so that you only have to remember one a strong master password and then everything that is in there and encrypted at okay so you'll enter the number one because if you get into kryptos more than likely after about a year you're going to have it by the multiple yeah you can have about two dozen three dozen passwords and there is absolutely no way that one you can create a safe password that is like 50 or 100 characters long and there's absolutely no way that you can remember it after you leave that password and you need to update these change them on a regular basis because you're using say I log in to say point base or some web some other service and they get hacked and then they force everyone to reset their passwords and now you have to continually change your passwords on a regular basis to remain secure so our password managers safe can password managers be hacked that may be okay but you know what's the next best alternative then like how are you going to manage hundreds of passwords and then keep them updated consistently and then randomly generate them so they can't run a dictionary attack on your app words number one do the password manager number two is that for beginning Crystal Christian vessels we we highly highly strongly strongly recommend using a hardware wallet such as the ledger nano you and all the websites are just so go to our FAQ and you can see on there right you can click on the wall wing go to the wrong website but usually hardware wallet such as a ledger or eye spreads or now there's other ones out there but those are the ones lucky I think it's not yeah those other ones that we have tested and your recommended that we have used and it's that these are the use okay so and when you use either one and make sure that you put a passphrase on top of it so even if somebody feels that the hardware welcome you if they don't have the password they still can't get access to it so there's multiple layers of security right they have a pin we get the type of pin to get into the account and a passphrase so make sure you use all that so number one use a password manager number two use a hardware wallet such as a trans or or Leger and then also when you're a beginner just for security and safety so you don't lose all your money just making your first cryptocurrency investment only invest in cryptocurrency that you can actually put on a hardware wallet that you can secure yeah so if for example Bitcoin you can put on a hardware wallet like coin you can put on a cerium like koi ash what else yeah – yeah for example you know those all support it down yeah for example a Mineiro even if you think it's good but you can't put on it any wallet and you're not going to figure it out trust me if you're beginner you know like we haven't even played jacks the guy that built the jacks they gave up on and the others change so build the eyes are engineers and they give up on it you don't need to be the one that's trying to figure it out let them figure it out and then you do it really when we invest especially I recommend to beginners only invested in cryptocurrencies that you are able to secure yeah learned a whole day on a hardware wallet that's supported by a hardware and there's over a half a dozen of them already like you can you can invest in any of the cerium GRC 20 tokens like the golems the the you know the wheat chocolate you know a lot of these are the facts right basic attention token these are all the cerium and materials because yeah you have a crime to mess up in what a bunch of they couldn't put in a wallet they thought it good before you let's say that you are going to invest a thousand dollars or a hundred dollars into a cryptocurrency right and you know that they can be put on a wallet as you check and everybody says it can be put on a hardware 102 it actually will do it with like out of that $100 bill do with like five bucks fancifully exchange to the hardware wallet and then actually exchange and do about three times to make sure that it actually works yeah before you can do it because somebody else online might say it does but it may be a you may not be a guy here right so yeah definitely whenever you decide you're going to invest in a crypto make sure by a small amount to begin with and with it make sure you understand it before you actually put your whole position sighs yeah and then after the the passive manager the hardware wallet the third thing is Desktop wallet the type of desktop wallet that you use has to be simple so you don't screw it up and it has to be so simple that you even give you an idiot you can still do it correctly without losing your money because there's no insurance there's no FDIC no-one's going to refund you if you send it to the wrong account and I've done it before you've done it before right so the key is that you always send a small amount you always send it before you do anything you always sound like a one or two less like up to like a 5-10 dollar transaction to make sure that it works right if you asked me if I needed to send you a hundred dollars or a thousand dollars with a Bitcoin I'll send five bucks first and you can fund it with me on the phone or on video that you got it then I'll send the rest okay so it always does that always do that when you buy from the exchange right and you mind some coinbase polonius or shake shift or any little exchanges like you want to transfer to your desktop your computer desktop first okay and then from your desktop then you transfer it to the hardware wallet again so moving from the exchange to your computer and then from your computer to the hardware wallet but to wallet that that I recommend for the desktop of an easiest one that's like this is like the easiest and in my opinion the best design wallet on the market all right is the exodus dot IO wallet now we also have to make a disclaimer about this okay we have a lot of our team members that are investors in the wallet so this doesn't wallet designing the company is selling like we we you know there's people on our team that invested into the company and the reason why we invested into the company was because we believe in the project we believe in the software it was like the easiest and most elegant and and most user-friendly wallets that we had ever seen and that's why we made a decision to do that so when I met when we were making that suggestion to you guys you know we want to be full disclosure that we are you know there's people on our team that invest in the company Exodus itself they don't have a concurrency the don't email is asking us you know is there a coin for the users and helping yourself yeah right now in the process so yeah so you would transfer from there to X to this and then from Exodus you can transfer it to your hardware wallet but starting wallet that that we suggest is using Jack CEO so that Exodus is a company based on Nebraska out of the cornfields Elizabeth I think right yeah Omaha Nebraska I think it is and then Jack's at i/o is based out of near Tampa Florida okay and those are the two desktop laws that we suggest because they're they're easy to use and they cover a lot of extra currency and I'll just say you really do not want to be holding large amounts of crypto in any desktop wall yeah you just transfer there isn't transcript or maybe just a holding area where you move to exchanges lamothe exchanges but for long-term storage of you know significant you know amounts of crystalline you don't want to lose you should not be holding in desktop wallace yeah you know unless you're doing something that doesn't have anything there's no other options and in that case i would have a separate computer that you've only used for crypto that you don't use for your general purpose so yeah that's yeah so so listen you have a thousand dollars of the bitcoin and you need to move a hundred dollars to the exchange let us say bitcoins at twenty-five hundred you you want to sell it when you get to three thousand and now is that 2900 and you get ready to sell it then you move one hundred dollars from your hardware wallet to like Exodus or to Jack that I owe and then from there when they hit your car then you move to exchange and immediately felt it move it back to Exodus or remove the cash or the US dollars into your bank account wherever it is that you need to prove it yeah okay it's kinda like a waypoint wallet to where you move everything to it but two ns or two jacks at i/o and then go there yeah a lot of beginners they're owning their money on exchanges and that's just asking for you know to lose your money one day because I remember when I first started the Bitcoin first half-dozen exchanges that I bought my first date coins from they all went out of business no none of them exist anymore like the first several dozen bitcoins that I was perfectly when I bought those at $40 right and every exchange I went to um somewhere half by hackers you know I such as the mount Cox um Sabha were hacked by the government you know they didn't comply with whatever you know money laundering kyt whatever thing and they were forced to shut down or or they try to but the compliance costs were so high that they couldn't afford it right so they got an act by the government so you know even Polonia acts two years ago they were hacked and they lost twelve percent of their coins this is an article back in 2014 you can go google Polonia tax and we have incident money as quickly money I curtsy I lost all my money at curtsy I did to Chrissy was kind of like a beep onek so do not we beg are our viewers and our friends and family to your viewers yes do not leave your your crippled on exchanges you know because the exchange is more secure than when we first got it yes uh but this is an arms race you know where you know they exchanges upgrade their securities and the hackers get smarter and tell you the truth we think the government's going to come to you know that's the reason you don't unless you control your private keys you do not control your crypto you are at risk from both hackers and governments around the world that are good at you know if you keep your money exchanges that is you are taking on that risk I want to labrie on something he said earlier about the pioneers when America was first created over two hundred years ago and the 13 colonies you know the European settlers settled on the eastern side of America of the United States and they maybe said hey you wanna we want to expand out to the west and anybody any settlers in anybody that's applying you what's brave enough if you guys go out there we'll give you a bunch of land a million acres 10 million acres a thousand acres of land you can just go and clean it for yourself and that's your land all right and it sounds great you go out there and you stick your flag and you say hey this is my property here this mountain belongs to me I own this river I own this Lake out these thousand acres great that's yours but the risk that you take the risk that you take is that you're going to have American Indians shooting arrows in your back yeah okay is you can survive getting shot in the back with arrows then you know you own a million acres or thousand acres for correct yeah the reason you got it for free the reason we are making this money is they're Indians out there huh you shouldn't come to mediate American so Native Americans that was going to hackers out there yeah yeah you know you know going to go out there and shooting at you you know and in our case in the crypto world it's not just hackers it's also government's too they're going there and that is a reason that is a risk that you know we are going out to this frontier and there's danger involved you know there's danger from hackers there's danger from governments and you know there's also opportunity yeah right there's massive amounts of opportunity as well that that as we go into this frontier so when you go out there be aware of what the risks are they all know and you know one of the biggest with in addition to security and in the legal risk on the government and security risk on other computer hackers can enhance I think me personally I think is the biggest risk that that that your audience or our audience can take is this is the opportunity cost of missing the crystal boom I would say that if you're listening to this and you follow Kenneth or you follow our channel and you've been thinking about crystals a little bit 50 bucks into it go over to ten bucks to go the thing is to get started the average profit on the average return that somebody make sitting on their ass and doing absolutely nothing is zero percent even if you put ten dollars into it if you make a mistake he will learn so much from that that it will help you learn some more you know just just get started and you a country where $100 is a lot of money cuz that might be your month income didn't go with $5 right begin to dogecoin or get the Micra where the costly the transaction cost is lower if you live in the u.s. anywhere in the u.s. you should be able to put $100 just just gift on it you if you want people to send their thinking like oh I should have done this back in 2012 and you say I should have done this in 2013 2014 2015 ever been a time in Bitcoin where we didn't think that we were getting in late yeah in the last seven years no one has ever gotten is a Bitcoin thinking they were early okay everybody has always felt I'm two more dollars right because at that point I had gone from a dollar to yeah yeah exactly yeah exactly so I think that helps your audience you know especially the beginners get started without mean if biggest thing is the security that's the biggest thing that that we want to make sure people understand but they use hardware wallace password managers and that way they're like this you know we eliminate about 90 95 percent of the security risk that's involved with cryptocurrency investing in the business the biggest risk capital security is probably not doing anything you guys are you guys are top-notch guys and I thoroughly enjoyed this conversation now I want to I want to get a brief summary of what people will find if they visit you guys at cryptocurrency market and also I want to ask what what is Leon dinosauria like videos like that what I there is a website Leon background but I haven't touched it in a decade okay I haven't I haven't even I I don't even know if I have to I don't even know remember what my password is for that domain management the main but I started getting that name I was one of the first persons among my friends to go register an Internet domain name that name was registered in 1997 okay so it's been 20 years yeah our first man that were beyond so that what is awesome oh yes I would people would ask me hey what's your you know again accountants at Leon food calm right and it at that time everyone had like a o L or at add that wouldn't even Google at the time right it was always at Yahoo or at at something I was like what's our UI well it's this ad Lee yong-soo comments just sit really and that was a that is how I kind of you know I think we met in the bar skiing and then you know I was getting you know trying to pick up some girls and I went to go at this time as a hey what's your email oh my king of Liang calm yes Liang Liang boo calm and then and they're like what and then so that's how I got known to be a really calm the other first to have my own domain yeah all right all right so tell us about cryptocurrency market yeah okay so there's if you guys want to check out more information from us or learn more or follow us the best way to follow us is at we create a new video on a youtube channel we we send it out into one hey you know this is the em champ new video we just created and this is what we're going to talk about so don't here's gonna be hit your audience needs to know don't expect any fancy production okay we just give the information that we know out there and the audience use it at we are not you know when i steven spielberg we're not you know james cameron don't expect a you know titanic or an avatar production from us okay we give the information out there so for security and to make money and that's it okay how I like to make youtube videos I prefer Twitter I like to write I'm more of a writer and sometimes when I want to write out on write a blog but I'm at Leon Cebu on Twitter you can follow me I tweet on a daily basis and I try to write a blog about every month or two when I have longer thoughts but but yeah we we're not invested we're about making money and we are about seeing opportunities we're about managing our risk you know in order to make life-changing plans that's what we are about is to you know impact and people around so that they can go pursue what they want to do Alijah not what they have to do but what they want to do as you know the critical curcuit is level the playing field then it's allowed the little guys on Main Street to make the kind of returns that the guys of use of make it all Wall Street and when we've learned that and that's what we like to share with PETA you know we've all things that we made money from the channel from advertising or yelling and we don't make you know we don't really know what it makes we don't even care all right we make money like we have people all the time contacting us a because hey we can get you you know more subscribers in each of million subscribers and the first question we ask is why does that make us money out yeah we do this the channel yes just because you know it's for friends and family and we just got a bit of a following they're going to make any money from anything we do on the channel yeah so if you follow this little currency wWOZ market that's where we put all our videos on there and then the the other one that will share this with you guys I think this is you guys matter of fact you guys are you guys are the first channel that will even mention this about share it with right is that the Thai food 30 indexes and that's at high school indexes dot-com and so the cryptocurrency is missing like an S&P 500 or a Dow Jones index that lets people check the pulse of the market each day and will always try to figure out what the market is doing that day and finally you know we you know our team we just got you know we we put a ultimate amount that we need to build the first cryptocurrency market index so we're really proud to announce the work that our team has done by putting out those any other type of 30 index we should cover a big enough broad you know spectrum and market women the currency markets doing and it started on June 17th at a hundred point and basically when you ask is earlier way earlier in the show and you ask is where we see is going we can see the typhoon index going from a hundred points when it started and once one thousand easily easily that's not even like something that anybody on our team even just yeah we started about a hundred hundred and change and it's going to a thousand it's going to go that maybe in five years maybe in seven years but it's headed there we don't know who what and when exactly uh but it's going there yeah and if we had a big bet but we would have to add a very obvious hopefully you know that that helps you guys out you know build those are our Twitter handles in the in our to get you to my Twitter is at hey ties them like Leon does at Leon C so you know yeah and and and website is wwsz market slash newsletter if you want to follow us and then we just clear the indexes at Typhoo indexes calm but they're all kind you guys are top notch thank you guys so much for coming on crush the street I really appreciate your time and wow you know I really enjoyed this format too so I hope everyone enjoys it here at crush Thank You Leon Thank You ty okay and the next time we're in awesome we'll look you up and they will do it live in person which is even through the next level yeah I'll be the first wasn't do it in your studio alright thanks for having this on your chin you

24 thoughts on “It’s Still Early To Invest In Crypto Currencies! – Tai Zen & Leon Fu Dot Com Interview”

  1. You Californians DESTROYED Austin. All the austinites are moving out cause of you guys. It's become a hellhole. Austin was a wonderful place just 10 years ago.

  2. I tried to register with however it claims that there is an account already set up in my email account. However I have only just created a new email account for all my Bitcoin dealings so how do I go about registering for their services if I cannot setup an account. And I don't know of any way I can contact them to resolve this issue. Are there any out there that can assist in this matter?

  3. You are talking about how poloniex and coinbase got huge number of customers in a short period of time and you re saying as if it s a good thing. Imo most of those people are investors who came after the hype , which can pretty much lead to a bubble..

  4. Great info Thanks
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