An Interview with Bitcoin Benny | Cryptocurrency

An Interview with Bitcoin Benny | Cryptocurrency

Tell our readers a little about Bitcoin Benny:

A: C Level executive who started in Telecommunications straight out of university and remained in that field in one capacity or another for the majority of my working career. Started out in Adelaide and then travelled the world doing consultancy roles and worked and lived in more than 12 countries. Wanted to find a way to supplement my income and keep travelling the world. Crypto was an avid interest that grew into a beast when I realised the earning potentials. After seeing how unregulated it was and being burned, scammed and making my fare share of mistakes, I quickly learned to ditch just TA and that FA and applying my deep understanding of how businesses run was a much better way of determining a projects likely success. After much time and getting the formulas right, I decided to do a social Youtube channel to help friends to avoid the mistakes I had made. Its really started to grow without that being the original intention.

How did you initially learn about cryptocurrencies and what was the deciding factor to start investing in them?

I learnt about them through a friend who sent me an article on Bitcoin. I had heard about them before but paid no attention. I then one day, when having some spare time thought I might read about this. I began to learn all there is to know. I saw it more as something of interest and NOT an investment. However, with working overseas comes all sorts of issues and fees with sending and receiving money as a foreigner. I looked at crypto as a way to transfer money between borders both faster and cheaper. It just so happened that in the process, I determined, I could also be making some money out of this.

Do you remember the first altcoin you bought? If so what is it?

Yes, I think the first coin I bought was SYS. Thought it was a great chance to make me a lot of money

How do you determine which projects are worth investing in and which are not?

A: For flipping I ride hype and capitalize on other peoples emotion whereas with HODL coins I much more focus on the solid fundamentals of the team, the vision, their ability to meet deadlines, the fact they have a product and customers is always a HUGE tick too. Basically after this does all blow up, and it will as every new movement does, you want to be on one of the handful that survives. Take the dot com boom. We saw Amazon, Google and Ebay walk away and few else. The bubble bursts well before mainstream adoption which has been proven for every new movement. So I am using the tested theory of working product, real customers. Any project that wants to reinvent the wheel by 2022 I think yeah but no. Its too far away. With the amount of money that’s coming in to the space now, we may not get to 2022 before it all goes pear shaped.

Interesting sentiment. If said “bubble” does happen to pop, what projects right now could you see surviving and why?

 

 

I don’t think we are anywhere near a bubble yet, as history has taught us we need to be at approx. NASDAQ cap levels which are around 6 trillion. However the projects that I think are the most important right now are the ones like Loopring and Komodo which are rapidly trying to make mass adoption a reality. There are many who are trying to do similar things but I think anyone who can bring the market to the people will be doing huge favors for the rest of the space. The influx of money, structure and talent will mean we realise the fundamental integration of Blockchain into our everyday lives, sooner.

If you were to put your entire net worth in to one cryptocurrency and hold it for the next 5 years which would you choose?

At the moment Komodo. I think what they are doing is groundbreaking and that the development team is second to none. With a little bit of polish this company could be anything.

Komodo is an interesting project that’s for sure. Year to date: what has been your most profitable investment?

I think I made the most from Antshares (NEO) and WTC. With WTC I was brave enough to go almost all in when it was 58 cents during all the China issues. There have been a few coins like that where I have thought, there is nothing technically wrong, and just know from experience that it will go back up.

If you could give one piece of advice to someone looking to get into cryptocurrency what would it be?

don’t try and do it on your own. We are still early adopters and its extremely dangerous if you don’t know what you’re doing. RESEARCH, RESEARCH, RESEARCH and then try and find people who can help you. There are plenty of nice groups out there and plenty of places you can go for advice.

Where does Bitcoin Benny go to research?

company website first and foremost. I eat whitepapers for breakfast, pull teams apart for lunch, do roadmap reviews for afternoon tea and then get stuck into products for dinner. Twitter and Bitcointalk are for dessert.but I check the people in the teams out on LinkedIn and other mediums, see if they have been involved in Unicorn companies or Fortune 500 companies and ESPECIALLY previous cryptos. I also try and determine if their project solves a real world problem or not.

What problem would you like to see addressed that can be solved via blockchain?

I think helping to bank the unbanked and helping to eradicate or at least alleviate poverty would be one good and practical use. This can be tackled on various levels and from many angles using blockchain technology.

Special thanks to Mr. Godson for the interview and his knowledge.

A.C. Thoreau

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