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by Luna vega May 17, 2018

 

We had our 3 rd Installation of That Crypto Hustle Meetup on Thursday, April 26 th at Onecowork in Barcelona. Our panelists included, Youtuber Crypto Ellis, coin whisperer RJ Rajendren, and co-founder of Eterbase Robert Aux.

We discussed a variety of topics from Cryptocurrency hacking vulnerability; centralized vs decentralized exchanges, government regulations, market trading predictions and finally whether or not Bitcoin Mining is dead.

It was a fun information jam-packed session with Nano Ledger Wallets / Ikoula Cloud Mining server raffle to top it all off.

If you want to hear the full recording click here >>

1) Protecting Yourself from Cryptocurrency Hacking & Governments increased Regulations

We started off the discussion by addressing troublesome hacks, which have been spreading in Centralized Exchanges – such as the Bifinex, Bitgrail hacks to name a few. Crypto Ellis stressed the importance of keeping wallets safe in a Hardware Wallet such as Nano Ledger Wallets. RJ also advised to take out your earnings daily from the exchangers and HODL in your Hardware wallets whichever coins you would like to keep in the long haul. He reminded us about the volatility of the Cryptocurrency market and how you must protect your earnings by withdrawing everyday even if you end-up paying daily exchange fees. He spoke about ensuring you can liquidate your funds by looking at the overall volume of each cryptocurrencies you own.

On another note, Robert Aux discussed the importance of compliance & decentralization when looking for trading exchangers. Governments are pushing hard to pass more anti-laundering regulations within the Cryptocurrency space. To protect your earnings, you must be compliant to these regulations and be able to prove the source of your assets.

Some decentralized exchanges in the market currently include, Bitshares, Robinhood and Eterbase.

2) ICO Project Recommendations & Cryptocurrency Trading Predictions

Next up, we discussed interesting ICO / Alt Coin projects, which our panelists believe in. Crypto Ellis, is excited about decentralized web applications offered by Substratum. They will start giving out Nodes in a few weeks & will be part of a TV show airing on CNBC, CNN and FOX news. Power Ledger is up next on his list of personal favorites, especially for its promise to enable you to sell your energy to your next-door neighbor.

Robert on the other hand prefers mine-able coins versus security tokens. He predicts the FCC might make it difficult for security tokens to enter the market in the future. He feels mine-able coins are more reliable as they are part of an entire ecosystem. He personally likes Verge because of its anonymous properties.

RJ has a more controversial approach to trading. He jokingly reminded us “you need money to buy fries at McDonalds”. He likes to spot trends versus looking at technology per say. EOS, a decentralized infrastructure is very promising. It is a Blockchain architecture that has the potential to scale millions of transactions per second and eliminate user fees. EOS also holds the promise of competing with ETH. Check this article, for more on EOS: https://blockgeeks.com/guides/eos-blockchain/

RJ also supports Power Ledger. He is a strong believer in NEO, the ETH of China.

His other personal favorite is, Project UBIN out of Singapore. This project has been on his radar as it is backed-up by major banks such as Bank of America, Merrill Lynch, Citi and Credit Suisse. Finally, Vitalik from ETH spent 6 months in Singapore to build project UBIN on Etherium nodes. Finally, he hinted about the World Cup and keeping an eye out for potential market soar while people will make bets using Cryptocurrencies.

3) Best Cryptocurrency Trading Strategies

Crypto Ellis recommends you HODL projects you truly believe in and day trade the rest. Robert, highly encourages you stay informed about the volume & liquidity of each coins in each exchangers before you trade anything more exotic. You must be cautious and look at the jurisdiction in your country.

RJ recommends finding a country like Singapore to trade from. Protect yourself from ever changing tax laws. Robert agreed, reminding us that in Poland, for example, you can own more Taxes from your actual trade earnings; hence the importance of understanding countries specific legislation. Overall, do not keep your assets inside exchangers, keep them safe in your hardware wallet.

 

4) Is Mining Still Relevant?

Mining has a bad rep & earning opportunities have shifted radically. RJ agreed that mining on a small scale could get expensive because of accrued costs. He prefers dealing with mining pools; as listed on Blockchain.info Mining pools can be compared to fishing; you will cash more fish if you are doing it with a group; versus just by yourself. Mining is not dead but you need quite a few machines to be profitable along with low electricity costs.

 

Finally, the panelists answered questions from the crowd. They revealed what their favorite ICO projects are; their predictions for the future of utility vs security token; the importance of decentralization for the health of the market and more…

 

Make sure to join our FB Group to learn about all our events around the world >>

 

 

Special thanks to our sponsors:

OneCowork is a 5-Star coworking community based in Barcelona with offices in Marina Port Vell and Plaza Catalunya. They offer their members a range of services within their facilities to suit any businesses needs.

Ikoula Espana: Ikoula is a Cloud and hosting company in the industry since 1998, we offer Cloud SSD platforms (public, private and hybrid), VPS, dedicated servers, domains, hosting, security solutions and email. All with the best support in Spanish, English, French and Dutch.

Eterbase: Eterbase is a robust exchange platform compliant with global regulations and meant to make trading safer for everyone.

Luna vega
Luna vega


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