1. Biggest lesson from 2017.
This is a tough one as 2017 was the breakout year for #Bitcoin and all of $crypto. So much breathless optimism, it’s hard to go back and pick one specific lesson from the many, many learned. It takes a step back and maybe an objective look at the macro lesson: when there is an undeniable paradigm shift and you find yourself on a completely different planet/playing field, your best course of action is to stay true to the disciplined principles, and practices derived directly from those principles, that got you positive results. And for this I’m talking in both short term trades and long term outlook. If you don’t have principles, now is the time to write some down. Create an investment thesis: start with bullet points of things you do, or know you should do, to achieve the results and hit the goals you want.
2. Markets change, strategies change, how your strategy from 2017 to 2018 has evolved?
This flows well from #1. Despite the markets having changed so much, my strategy remains the same in a lot of ways. I am not a TA or chart guy. I am not a good short term trader. I am a good value seeker and a good seer-through-bullshit, I think. If those are my strengths I want to keep playing to them. Maybe that’s in the same way as many $crypto people always have done, like seeking out new PoW launches and mining the eff out of them; maybe it’s in new ways too, like finding ways to demystify things for an ever growing number of new enthusiasts. Stick to the principles that work, even if the actions borne out of those principles are totally different than they used to be.
3. Privacy coins highly disputed battlefield, will they thrive?
“Privacy coins” is kind of a bullshit term I’d like to stop using. I prefer calling them anon coins. The disputes boil down to whether or not anon functions are broken and any arguments to the contrary are generally bag-defending. If the anon function works, the anon coin will absolutely thrive in the coming years. Better established ones will thrive the most, but we have barely begun to build out interesting subfunctions on newer and smaller anon coins, too. The anon coin sector is categorically the most obviously bullish, especially if you believe that the more stable and secure anon chains exist, the better for security-through-obscurity storage of value.
4. Bitcoin 2018 outlook and beyond?
Bitcoin is the fundamental base currency and proof of decentralized value concept. It is here. It is not going away. Over time, BTC will rise against fiat currencies until its value in fiat is meaningless. It’s not permanently censorable, so although we might have another 1–2 year bear market one day, it can’t be kept down. The only thing that will kill Bitcoin dead is the abundance of utopia. That’s a long long way away.
5. What crypto projects you are advising?
One of the directions I’m taking in furtherance of my $crypto participation/investment thesis is advisorships. I get asked questions all the time and I do my best to answer them (or help people help themselves). Official advisorships have grown out of this to a large extent. In many cases I prefer not to advise officially but keep a channel open for people to ask me questions, for free. But it’s rare. If you want to see the list of projects I advise officially just DYOR in my past tweets. It is very important to note that me being an advisor should not be a criterion by which you value something you’re planning on investing in.
6. What makes them special that you are willing to advise them?
I try not to get involved as an advisor in any project that is explicitly using this crazy following (which I have no idea what to do with) as leverage for attention or selling a bull case for raising capital. I recognize this will happen to some extent anyway, so I am very selective about any kind of official position. I’d rather just be an unofficial advisor and not get paid anything, in most cases. There’s no checklist for things that will get me involved. The answer to this question shouldn’t be important to you.
7. Somebody that has never mined, wants to build a mining rig, where should I start?
I beat this question to death daily. Look at @1stminingrig’s YouTube tutorials. If they make you excited to build your own rig, go for it; if not, don’t. (If so, I am hoping my 3-part series in @21cryptos will help guide people toward mining if they’re interested but don’t know where to look.)
8. What type of coins should I mine?
This is like asking, “What type of trades should I enter?” The only one who can answer this question is you.
9. GPU, or ASIC? Preferred brand for mining rig?
GPUs and ASICs are both awesome. I don’t have a preferred brand of rig. My favourite piece of mining gear is the one that I bought cheap, and has returned my investment more than once, and is still hashing away profitably.
10. Minimum infosec measures we all should take?
Please read my security article on Steemit and do everything in there you can possibly stand to do. The more the better.
11. Stepping up one or two notches investing on infosec measures, what do you recommend?
Absolutely use a VPN at all times. Use a hardware wallet. Use different email addresses and different passwords for every third-party $crypto service (exchanges etc.). Unlink your phone number from every possible service and treat it as though it were already hacked. Use 2FA for everything (Google Authenticator *and* a Feitian/Yubikey). Never reuse a password; use a password manager and an extremely complex memorized master password. Exhibit no wealth, only modesty.
12. Jihan Wu or John McAfee? Why?
Jihan Wu is lawful evil, John McAfee is chaotic neutral. John McAfee.
13. Craig Wright or Roger Ver?Why?
Craig Wright is a raccoon (respects to Ben Hunt @EpsilonTheory). Roger Ver is a coyote who’s lost his way and let power get to his head. Roger Ver.
14. Charlie Lee or Barry Silbert? Why?
I can’t say enough good things about Charlie Lee. As a developer, as an ambassador for $crypto, as an enthusiast, as a reminder not to take magic internet money too seriously, he is the archetype. I would love to meet him someday and have a nice long talk.
15. What’s his drink of choice and if he has any specific metrics when judging a coin that has Masternodes?
Drink of choice?!? Is this so you can buy me a drink? If I’m in keto buy me a vodka soda. If not buy me any Polish pilsener. Masternode metrics: judge the coin/project as though it didn’t have MNs. If you end up with enough coins for a MN at the entry you want, consider the option to run a MN as a bonus.
16. What drives him to do what he does?
I worked my ASS off climbing out of debt hole for years and years, where the entire system seemed to be working against me. When I discovered Bitcoin its libertarianism kind of turned me off but Dogecoin’s big “Fuck you” to the stuffy politicizing of Bitcoin was fun and open enough to hook me. And through that I discovered first hand the fundamentals of sound money as they present in $crypto. Once I set out the principles in my investment/participation thesis and started executing them through actions, I resolved to keep doing it as long as it was fun and working out well for me. I figured the worst case was I’d have some retirement savings, or even if everything went to 0, some memories of a fun community and good people. I am a persistent bastard so as long as something keeps working I keep doing it.
17. How many hours a day dedicated to #Crypto?
I started out my work life with an entrepreneurial mindset so I don’t really think in hours logged per workday. I used to, but once you chain together 21-hour work days for months on end with no break it ends up not meaning anything. Some days I spend 24 hours straight at the computer because I am totally engaged. Some days I make one shitpost tweet from my phone. The thing is that I enjoy $crypto so it doesn’t feel like work. Recombining staking inputs that have bloated a wallet.dat too large is a grind though.
18. What are the pros and cons of Taylor, the app whose ICO he’s an advisor? And what’s his opinion about $TAY itself in regards of its market potential as a cryptocurrency?
#DYOR on this one. Pretend I have nothing to do with it.
I talk about my investment thesis (or participation thesis) all the time. It’s a set of guiding principles, partly written down, partly in my head, that influence every decision I make — it started in $crypto but because it was working so well for me it bled into other parts of my life. I will never share them overtly, just keep referring to them indirectly, but maybe you can figure them out for yourself or create your own.
@notsofast is one of the (if not THE most) most respected voices in crypto, because of his sincerity, openness, straightforward approach. He upholds himself to a higher standard, he does not give you the fish, he encourages you to figure out how to catch the fish, which is the essence to be self sufficient.
I remember watching The Matrix countless times, and every time, I felt inspired. @notsofast should inspire us to uphold ourselves to higher standards.
If you enjoy the read, follow me on Twitter, is good for Karma.