James Altucher: Crypto IS A MAJOR BUBBLE Right Now But DON’T WORRY

He says the way to survive the ‘natural evolution of currency’ bubble is to buy crypto with ‘strong intrinsic value’. Wait till you read what he says about gold…

by James Altucher via Daily Reckoning

Yes, cryptocurrencies are in a major bubble.

But don’t let that word scare you away.

Crypto opportunities are NEVER going away, and generational wealth WILL be made.

I’m telling you the opportunity here is immense. Think, “internet 1994” — a lot of people got very rich before that bubble burst.

One day soon, “B.C.” will stand for “before crypto” and “A.C.” will stand for “after crypto.”

Right now we’re living in early years of “A.C.”

It’s time to get ready… the world is about to change.

Cryptos ARE The Natural Evolution of Currency

First it was the land you owned and the resources you developed on that land (wheat, grains, etc.).

Then it was metals. Gold, silver, etc. You traveled with it by fashioning it into jewelry. Too much gold equals harder to travel.

Paper currency. Backed first by gold but then… by faith in God (“in God we trust”) or government. (Or a pyramid… with an eye in it???)

Electronic currency. Easily transportable. But transaction fees all over the system. Zero privacy.

Now we have cryptocurrencies. Easily transportable, zero transaction fees, no human intervention between payer and payee, high anonymity and strong functionality.

Money evolves like anything else and the natural evolution of money is always as a store of value that is easier to move, more secure and more private.

Cryptos also make transactions easier. Transactions have the same history and the same issues. How can you transact across a large geographic area with fewer fees, fewer costs, less chance for human error, higher security and privacy?

Cryptocurrencies ARE the natural evolution of money.

Here’s the BAD Part

With bitcoin, for example, a list of transactions is sent out to the network in the form of a “block.” Miners, who are slowly paid in more bitcoin up to a maximum of 21 million, validate a transaction.

Problem 1: If a transaction doesn’t make it into a block (on bitcoin), it waits a certain period of time to get into the next block. This means it might take more time.

Problem 2: Another problem is that everyone can “see” the transaction on what is called the blockchain. They can’t see who made it, but they can see the size and other details.

The good news is these are problems that can be eliminated.

But until then, many cryptocurrencies are a big risk and can lead to a lot of overvalued coins.

That’s setting the stage for a perfect bubble situation.

Surviving The Burst

Uncertainty breeds volatility. Cryptocurrencies are going to be volatile for a while.

But why does volatility create opportunity?

Because it’s rare that intrinsic value changes much day to day.

If you can identify the cryptocurrencies that are legitimate (have strong intrinsic value), then you can make a lot of money playing off the volatile situation in crypto.

And that’s where I come in…

I want to help the many people who have been scammed by all sorts of schemes duping people into buying or trading “bad” crypto.

My solution is simple.

Research, diversification and building a network of intelligence allows me to help you understand all the relevant issues and make smart decisions.

There’s no avoiding reality.

The evolution of money and the evolution of every industry strongly imply that cryptocurrencies will be in our future.

How we get from “here” to “there” will be paved with many lucrative opportunities.

I’m here to sift through the duds and bad info to give you real moneymaking opportunities before, while and after the bubble bursts.

Many were burned with similar bubbles like the dot-com boom type in the ’90s. My goal is to make sure you don’t get burned again.