Being Programmed to Not Find Good Cryptocurrency Projects

A conversation I had with my friend the other night made me think that perhaps our students are being programmed to not make good long term choices. It would not be too far of a stretch to claim that there will be who will fall for scams and bad cryptocurrency projects. As such, I will discuss a few things that I feel are being taught at school and how we can better train our next generation to make better choices.

Critical Thinking

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Yes, I know, every single educator would lament on the fact that their students are somehow not good critical thinkers. But, hear me out. I went for a course that taught people how to create a startup. It was a really good course, but then I noticed something interesting. I noticed that the system that they used was eerily similar to how I teach research writing. Utilizing (or gaming) the system, my team won third with a superbly boring idea.

I may be biased, but I think the journey of writing a good dissertation or a thesis changes you. It forces you to think from various perspectives. The journey also forces you to take into account all the possible problems that may occur. Thus, thinking critically. However, research skills like this is commonly taught at the end of an undergraduate course. I think that it should be taught much earlier. Imagine if people had the skills and tools to see through projects such as Bitconnect. At least, even if they were to buy into the project, they would know the risks that they are taking.

As such, I think students in high school should be given the opportunity to analyze companies and projects. They should be taught to question the way the company is being run. Hopefully, this will equip them with the ability to see through all the marketing and all the hype. Thus, helping them to also pick the right financial projects or cryptocurrency projects to invest in.

Active Reading

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A good mentor of mine once said, your output is only as good as your input. He was referring to the things I say and the ideas I conjure, not the biological output that you may be thinking about. If you were not thinking about that, you are a better person than I am. However, my mentor is right. You only know as much as the knowledge you have.

Thus, imagine if a good friend were to come to you and sell you a particular cryptocurrency project. If you have no idea what cryptocurrencies are about, nor what simple economics are, you may just be thinking about the potential gains that you may make. This may cause you to lose quite a bit. That is because you are placing your decision at the hands of your friend.

This is an issue not just with cryptocurrency projects but life choices as well. Many tend to base their decisions on Youtubers or influencers without researching it themselves. Now, I am not saying that Youtubers and influencers are not trustworthy, but do read up on it. You may see a perspective that they may not. Furthermore, what works for them may not work for you due to various factors.

Thus, I think the skill of active reading is important. One should always read and understand what they have heard from friends and Youtubers. The best time to inculcate these skills is at a young age. Children should be encouraged to ask as many questions as possible and the teacher should try to connect the answers of these questions to their preexisting knowledge. Thus, if knowledge is like a building block, a teacher builds a child’s knowledge by ‘stacking’ it higher with every question answered.

Conclusion

I believe that in times to come, knowledge will not be as important as wisdom. With social media and the internet in general, it is not difficult to find information on anything including a cryptocurrency project. There is also a lot of information on which cryptocurrency project that one can choose. However, wisdom is a combination of knowledge, experience and a critical mind. Put it all together, you just may find the projects that are rare gems of cryptocurrency projects that are buried underneath all the hype of other projects.

Thus, never stop researching, never stop reading and never stop questioning.

 

 

Cryptocurrencies Should Be Taught At Schools.

It has been more than ten years now since the inception of Bitcoin. Like it, hate it or ignore it, Bitcoin and cryptocurrencies have become more common in our daily lives. This begs the question, why is it still not taught at school? Surely schools being the place of learning should expose students to cryptocurrencies. After all, cryptocurrencies represent a very different perspective on finance and the economy. Also, if we are looking to prepare the next generation for the future, the teaching of cryptocurrencies should be done at schools.

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Teaching Responsibility

There are many use cases for cryptocurrencies, but if your students are too young to understand complex economic concepts, let’s start with something simpler. I find that over time, dabbling in cryptocurrencies has forced me to be more responsible over my own finances. I remember the first time when I had my private keys over on Steemit. After losing my private keys for one of my accounts, I realized that there was no one capable of retrieving it. I tried calling support, but no one could do anything.

This has unfortunately been a good lesson of being your own ‘bank’. Unlike more centralized systems, you can’t always call up a customer service representative to help you restore your password. Thus, you will just have to be a bit more responsible for your own passwords and accounts. This can be inculcated in lessons where children are taught to hold their own cryptocurrency knowing that once they lose it, no one can retrieve it for them.

Of course, using actual cryptocurrency for this may be a rather costly endeavor, as such, I would use the waves platform to create one for the purposes of the lesson.

Teaching Why Cryptocurrencies Were Invented

As for the students who are more mature, I think it is important to talk about why Bitcoin was invented in the first place. There, teachers can introduce the concept of debt and the 2008 financial crisis. While some claim that the 2008 financial crisis was a motivating factor for the creation of  Bitcoin (source). I think the lesson behind it is sound. After all, we should be teaching our students about the lessons that led to the crash.

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Furthermore, talking about Bitcoin will lead to a comparison with fiat currency. There, a teacher can introduce the concept of inflation as well as why this occurs. While it takes a certain level of maturity to understand this, I have found that teenagers grasp this concept rather quickly. Perhaps it is from social media or hearing their parents complain about the rising cost of living, they catch on to the idea pretty quickly.

Of course, the idea behind introducing them to Bitcoin is not for them to buy it. Rather, it helps them gain a different perspective to the conventional lessons that they are prescribed. I believe that with different views, you tend to make better decisions.

Teaching About The Use Cases of Cryptocurrencies

Aside from the history behind Bitcoin and cryptocurrencies, a teacher can also touch on the use cases of cryptocurrencies. In terms of Bitcoin, a teacher can draw from examples in Venezuela and Hong Kong where it was used. At this point, I will be touching on issues that may seem undesirable to the government or the administration. Sometimes, the concept of decentralization and freedom associated with cryptocurrencies is seen as a form of rebellion by some who are in power.

However, as educators, I think it is important to teach our students what is happening in the world and leave them with something more valuable than knowledge. That something is wisdom. I think wisdom stems from experience but also having all the possible choices laid out before you. Once you know all the possible choices, it becomes easier to make an informed choice.

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The problem is that many are fed ideas from one perspective. This leads to them making decisions that are bad but considered as ‘normal’. I can’t speak for others in my field, but my clients are those who are going to be future teachers. As such, when the opportunity arises, I will present both perspectives to them. I only hope that they can use that knowledge to impact the next generation.

Going Cashless In Malaysia

It was the usual crazy morning for any parent. Crying babies, preparing breakfast and of course grocery shopping. After sending my children to school, I headed to the market for some grocery shopping. Before I arrived, I noticed that I did not have enough cash. Instead of heading to the nearest ATM machine, I thought to myself, I’m into cryptocurrency, I am the future, I can definitely go cashless in Malaysia!

Thus, the self-challenge undertaken by many bloggers and social media influencers was accepted by me. No one put me up to it, but I was curious if I can survive by going cashless. After a brief 15 minutes of grocery shopping for the week, I approached the counter, ready to pay for my bills. I thought I started my challenge by asking if I can pay in Cryptocurrency.

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Paying With Cryptocurrency

I asked the lady at the counter if I could pay in Bitcoin. The middle-aged lady, looked groggy, probably from all the partying during Chinese new year did not seem to be in a good mood. She looked at me with a puzzled look and replied,” No, no, no, you can’t pay with a little BIT of COIN! You must pay in CASH!” I corrected her and asked if she accepted any cryptocurrency. She said “Huh? What Cryptocurrency? Is it a scam? You better pay now before I call the police!”

With a sigh, I handed over my credit card. Seeing absolutely no hope in paying with cryptocurrency. As I was keying in my pin number for my credit card, I thought that I should at least evangelize about cryptocurrency, maybe even get her on Steemit. Heck, I’m sure she uses Facebook and Instagram, surely Steemit would be an easy sell into the world of Cryptocurrency.

As I looked up at her to strike a conversation, she waved me off and shouted. “NEXT!”

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There goes my moment. I suppose there are still many businesses who have not come to accept cryptocurrency. Perhaps I should try out other means.

Boost

Aside from paying with cryptocurrency, paying with Boost seemed to be the next best thing. Many shops have started popping up accepting this app which gives some cool cashback. I once had RM88 cashback for paying my bills. That money was later spent on burgers (Don’t judge me, they were really good burgers).

Anyway, Boost works because of the mass adoption by many businesses especially in where I live. So I thought that I could very much go cashless with just this app. I could for a few establishments until I had to buy from a shop located at the basement level of a mall.

Internet connection was very bad and the cashier and I had a very long awkward moment. We were both staring at my phone, avoiding eye contact as the app started processing the payment for almost 30 seconds before failing. After trying multiple times and a few awkward conversations on how the weather was, I gave up. Thank God they accepted my credit card too.

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 You can get use my Invite Code: alvojml.  https://myboost.app.link/Nb3vnwGxfU Image source

Conclusion

So yay, I went cashless and did it! Unfortunately, I was only able to do so on a credit card. But hey, the end justifies the means. I think there is a very important lesson that I have learned from all this.

There have been many apps and platforms that have tried promoting their payment platform to businesses, offering cashbacks and great deals. However, many of the cryptocurrency platforms have not gotten there yet. In fact, I think if Steem or any other cryptocurrency platform were to go around promoting the use of its platform like how Boost does it, mass adoption can be achieved fairly quickly.

As such, I am sure that the future is cashless. But for now, I can’t give up on my credit card. At least, not yet.

Masternodes, HODLing & Studies

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Ever since I got into cryptocurrency, I started to see certain similarities between how it works and how studying is like. I know, there are many facets to cryptocurrencies, but I will be talking specifically about Masternodes and HODLing.

A Bit Of Context

So for the uninitiated, Masternodes are basically buying up a set amount of a particular cryptocurrency as collateral. This collateral is then used as a form of staking. Yes, I know there is a need for a VPS and all, but let’s keep it simple, shall we?

Masternodes do bring about some really good rewards but there are a few problems. First, most of the coins except for Dash are not as popular. Some are not even on coinmarketcap. This means that if you are going to invest in a particular Masternode, you are taking a risk buying into a coin that could lose all its value.

Second, there is the risk of putting all the eggs in one basket. I mean, logic dictates that it will be far safer to put all the money in 10 different coins instead of just one for a Masternode. Of course, the great thing about Masternodes is that you get a constant stream of rewards in that coin.

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HODLing, of course, is just investing in a few coins and holding on to them until the prices go up. In many ways, I think pursuing what to study is very much similar to choosing between HODLing and Masternodes.

HODLing

HODLing in studies is very much like our current system of education. You buy up different coins and hope that one of them works out. Similarly, most education systems would require a student to study a myriad of subjects until they graduate high school. Hopefully, the student can ‘find’ a subject that they like to pursue in university.

While it is true that some education systems allow the child to choose what to specialize in halfway through high school, most education systems in the eastern context do not.

HODLing in education is good, you get to study different subjects before deciding what works for you. However, much time is likely wasted trying to figure out what you are going to do for the rest of your life.

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Masternodes

Then we have Masternodes. There are some education systems where the students are made to specialize in one subject from a very very young age.

The great thing about pursuing a particular subject like how you would a Masternode is that you get to know all about the subject you are pursuing. Just like building a Masternode, you will know everything from the programming of the node to why the project is going to do great.

The problem with this is that you can have a rather limited perspective on things aside from what you have learned. Just like buying into a Masternode, you can be rather biased towards what the Masternode project is all about. This may impede your judgment on things.

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Conclusion

Whichever system that you may choose, whether you choose to HODL your way in your studies or Masternode it, one thing is for sure, they both have their benefits and issues. The key is to not find one method that is perfect but to choose which suits your character. Personally, I was more of a HODLer back in my school days, I had no idea what I wanted to do and so studied a myriad of subjects before coming to one that I felt was perfect for me.

Of course, research is mandatory if you don’t want to lose a whole chunk of money. As such, you would need to research what you want to do for your future. Or else you may end up in the same situation as buying into a crap project, which is to lose a lot of time and money.

HODLing? Why Not Invest In These Two Coins

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If you are HODLing like me, you will know that it must not have been easy. The bear market has been going on for quite a bit. Thus, with all my cryptocurrency lying around, I started looking for a few ways to grow my investments.

To give a bit of context, I have looked at masternodes and other staking wallets. However, I was not very keen on setting up my own masternodes due to the lack of free time. Staking, on the other hand, is a story for another day. It was at this time that I came across two different cryptocurrencies that are rather interesting.

Catex

I have not seen Catex on coinmarketcap, which is relatively strange. However, I decided to buy up about 12 dollars worth of it just to see how it goes. Catex is an exchange where leaving it on it would get you returns in the form of other cryptocurrencies.

These cryptocurrencies are whatever coins and tokens that are being traded on the exchange. To give you an idea of how much you could get, this is my returns after 2 days. Not much, but hey, better than nothing.

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Mind you, this is only from a small amount invested. Now imagine if I had more invested. Of course, the price of Catex is still relatively low but if it were to rise in value, it would end up like the next Cryptocurrency.

Kucoin Shares

I got into Kucoin shares at the beginning of this year. At its highest point, it was approximately 18 dollars per Kucoin shares. It’s now approximately 1.20 dollars which makes it a great buy opportunity. So now on to what Kucoin Shares actually does.

Just like Catex, holding Kucoin shares at the exchange would enable you to collect small shares of all the cryptocurrencies traded there. It has been a very small amount but at least its better than nothing.

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So Which Is Better?

Of course, the main question is where should your hard earned money go? Well, I do think that if you would like something a bit more proven, Kucoin shares is definitely the one to go with. It is listed on coinmarketcap and has performed quite well in the past. Furthermore, it is one of the better-known exchanges and the coin is ranked 63 on coinmarketcap in terms of marketcap.

However, if you see potential in Catex, there is really no issue with trying it out with a small amount of investment. Of course, don’t sell an arm and a leg just to invest in it. Who knows? They may just do extremely well in the future.

That being said, I highly recommend that you do your own due diligence before investing. If you have any questions, do let me know down in the comments below.

My Referral Links

https://www.catex.io/register/27614732

https://www.kucoin.com/#/?r=1dMxM

Buy Dropil & Increase Your Crypto Earnings.

I was monitoring my Blockfolio the other day when I came across an interesting project called Dropil.  By the way, Blockfolio means (blockchain portfolio). Dropil caught my eye because, in the midst of a bear market, Dropil was doing rather fine.

Initially, I thought Dropil was a Blockchain project related to clean water. However, upon some digging and Youtube videos, I realized what potential Dropil holds especially in a bear Ethereum market.

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How Does Dropil Work?

In simple terms, Dropil uses some really awesome bots to earn some sweet cryptocurrency. First up is Arthur which is a bot that compiles all the best arbitrage opportunities for you to make a profit. Arbitrage basically gets you to buy a particular cryptocurrency from one exchange and sells it at another for a profit.

As cool as that is, I find that it takes some effort on my end to accomplish it. It’s not that Arthur is bad, its just my schedule. As such, I would prefer the second bot on Dropil which is Dex.

Dex works as a trading bot.  In order to use Dex, you would first have to buy up at least $50 worth of Drops from any of the exchanges that trades it. This includes IDAX, Tidex, Idex and fatbtc. After that, you can deposit it into your account on Dropil and the bot would trade it for you.

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Meet Dex (Image source)

Results Thus Far…

The results thus far has been great. Dex has three modes of trading, ranging from safe, moderate to aggressive. Personally, I prefer aggressive since the Dropil team has been making Dex into one mean trader, I thought I might as well give it a shot at how Dex performed at its most aggressive setting. You know what they say, go big or go home =)

Dex indeed did not disappoint at all. I was able to get about 9% returns every month, which is not bad really. with my $50 investment, I was able to get back about 5$ a month, which is not all bad considering that it is only $50. Imagine if this was scaled and I have ten times the amount I have now in there. I would be making a lot more.

The returns are paid in Drops and not other cryptocurrencies. Personally, I am fine with that seeing that I could just easily trade it for something else later. Furthermore, you will be required to ‘stake’ or ‘lock’ your tokens in for Dex to trade for 15 days. You could, however, take out the funds whenever you want. But, I would just leave it to run unless you absolutely need the cash.

Why I am HODLing

One simple reason, free bots that work. There is a saying from where I am from and do try to say the following statement with a Chinese slang:

Good things no cheap, cheap things no good.

As funny and as true that statement may be, this does not apply to Dropil. Even in this current bear market, Dropil is still doing pretty well because of its utility. As far as I know, there is no other cryptocurrency like Dropil and I believe that once more people find out about this, they would happily come aboard. I am personally using Dex for two periods (about 30 days) thus far and I am more than pleased. Attached is a picture of my dashboard.

Not too shabby eh? Well, if you are keen to use your eth at the moment and grow it through Dropil, can I request that you use my referral code? You will be doing me a solid and if you do, I really appreciate it.

My referral code to Dropil

https://dex.dropil.com/signup?aff=rEHCDrlFsICnyw5i22l64ChIFcX6BU

Disclaimer

Many of the findings here are researched but are based on my own opinion. I welcome any debate and discussion but I am no financial adviser. As such, always do your own due diligence before selling your kidney to invest in anything.

 

Using Cryptocurrency To Teach Children About Money

I had to go on one of those long car rides and in that car was a parent. We started talking about teaching young children about money. As I was talking about curriculum and the role of parents, the parent stopped me. She said all you need is cryptocurrency to teach children about cryptocurrency.

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The Method

I learnt from the parent that she uses a proof of stake token. The parent would stake the minimum required amount of token for its rewards. The parent explained that she used to provide her children with a weekly allowance. The problem with that was the unhealthy ‘hand-out’ mentality that came with that.

The parent lamented that the children would come to her before the week is up asking for an advance. Of course, the easy solution is to not give the child any advance. However, that solves nothing and lecturing the child is counterproductive.

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Thus, the parent started teaching her children about cryptocurrency, specifically, those that would give a constant and frequent reward. The parent did consider mining as an option but found that it required too much maintenance. Thus, she chose a proof of stake coin.

The child would then trade whatever rewards from staking into the local currency. Whatever money earned would become the child’s allowance.

Lessons The Child Learnt

The parent pointed out that the child learnt some really great lessons from this experience. The first lesson learnt was on trading. Of course, we are not referring to reading moving averages but just some basic concepts. Namely, the children learnt the important lesson of buying low and selling high.

Mind you, the children had the freedom to do whatever they want. They are free to buy in a bull market or sell. If they were to make any mistakes, they would bear the consequences. This has taught the children to better manage their funds. This has also taught them to indirectly appreciate money.

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The parent pointed out that since she started training her children to claim their allowance from the coin, they have started becoming more thoughtful. The parent felt that the children would stop asking for expensive items. Often they would even save up or sell their coins in a bull market for a new phone or any other items that they want.

Furthermore, the children have also started researching about how their ‘magic money printing machine’. This has allowed the parent to teach and provide the children with the tools to research about cryptocurrency.

Is This Practical?

It seems as though this is such an idealistic scenario. However, this is no different from a parent buying a child a mutual fund. The child could easily live off the dividends from the fund itself. The parent also pointed out how certain situations may require some…wisdom. In the recent bear market, its common for the children to start worrying.

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This became a great teaching experience for the parent. However, the parent also had to supplement the children allowance. The parent felt rather sorry that one of her children was skipping lunch in school due to the cryptocurrency bear market.

It was not long before we arrived at our destination and I wished that the ride was longer. I wouldn’t be surprised if one day more parents would start using this method to provide their children with an allowance. The allowance in the bigger picture is secondary when you consider the potential of preparing the children for valuable lessons which would help them in the future.

Oh, and if you want to know what the coin is, do drop me a message in the comments below.