IA Q&A: Profit Taking, Pair Trading, Elon, Cold Storage Best Practices+ more

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#Bitcoin #ETH #pairtrading #decentralizedexchange #elonmusk #coldstorage
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DISCLAIMER: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss. Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.

00:00 Introduction
00:53 Where to Ask Questions
01:09 With so many Bitcoin miners switching off, will this adversely affect the security of the network?
01:29 Bitcoin Mining Aug 2019
01:44 Bitcoin Mining Jan 2022
02:09 Hash Rate Last 5 Years ATH
02:45 Zooming In We Are Back at Sep 2022 Levels
04:38 Is now the time to sell my ETH and buy Bitcoin? NFA.
04:50 ETH:BTC Pair Trades
06:20 Given the state of everything has your thesis on taking profits in the next bull run going to change? Would you start at 2X, 3X or 4X+ and what sort of % would you take profit and would this be in fiat or move it into something else?
06:44 Profit Taking Model Under Construction
08:25 My Philosophy
09:15 How to buy and sell altcoins in the USA if it is declared a security?
09:30 Implication of Altcoins declared securities
10:07 DEXs would be our only option
11:28 To purchase bitcoin with USDC, which DEX should we use that is super safe and how to use it? Everyone is scared of using centralized exchanges and we need another method.
12:12 Uniswap
13:27 Uniswap UI – Beware Wrapped Assets
14:51 Other Alternatives eg Wormhole Token Bridge
15:19 Beware Bridges
15:46 What are the biggest catalysts on Sol’s roadmap from this point? And what are the biggest risks? We’re wondering whether to take this opportunity to double down or cut and run.
16:39 Coinbase Support & Tether $1BN Transfer
17:13 Defi Stabilizing
18:00 NFTs Rebounding Fast
18:22 Roadmap Risks
19:25 You always talk about re-examining your thesis. In light of Alex at Celsius, are you re-examining your belief in Elon? What have you learned from those two that you’re applying moving forward?
22:29 Ponzi Red Flag Checklist
21:09 Good Things vs Bad Things
21:41 When the Whole Community Urges
22:49 Clever Blind Ppl Can Be Right and Still Wrong
24:09 Elon’s Goals
25:28 Elon’s Mantra
26:18 Elon’s Mgt Style
27:10 Professional Track Record
27:43 Elon & Anti Wokeness
29:44 How long can the SEC go without doing anything on regulation? Can they just ignore it forever?
30:00 Ripple Lawsuit
31:00 Bitcoin Futures ETF
31:41 Guidance on ICOs being Security
32:00 BTC is Not a Security
32:53 Where is Congress?
33:45 It is imperative that the crypto industry partakes in it’s own self-regulation before the government intervenes and screws it up. Can you provide a road map of what needs to be done that exposes the dark players and through transparency brings the cream to the top?
34:21 Criteria for a Proper Framework
35:26 Proposed Framework that Achieves this
37:41 Re Proof of Reserves
38:36 We’re advised to utilize cold storage methods for optimal safety, yet the advice stops there. Paper is too risky, products like Billfodl harden opsec, but then what? Thoughts on hardened opsec after cold storage is put into play?
39:11 Secure your Backup Seed Phrase
40:30 Keep Backups of backups
41:30 Have a Plan Against Threats
41:56 THREAT: $5 Wrench Attack
42:28 THREAT: Evil Maid/Butler Attack
43:04 THREAT: Natural Disaster
43:27 THREAT: Family/Kids
44:27 THREAT: Yourself

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26 Comments

  1. Solid video! Been a subscriber for about 2 years now and I know your stance on coinbase has been bearish for good reason, BUT what are your thoughts on Coinbases ability to rally when the bull market does inevitably come? Any price targets for COIN that are associated alongside Bitcoins ability to rally?

  2. Yo dawg, I haerd you like backups so we put backups inside your backups so you can backup your backups while you backups your other backups.

  3. Sorry – a little late to this party, James. I personally LOVE Elon Musk – he is a visionary who works his arse off. I wish he were emperor of the universe. It would be a far, far better place. 💙

  4. Got to admit James I took a hiatus from most crypto channels after the Celsius collapse. I was slightly annoyed at your interactions with The ceo of Celcius especially as it was collapsing.
    You are still without doubt one of the best channels on YouTube for education and knowledge. I do have my concerns about you bringing on the Solana ceo considering it's future is really unknown but I'm a massive solana bull.

    Think I just needed to block out the noise for abit. But thankfully I have so much to catch up on.

  5. Another observation, is that regulation is definitely needed for the crypto industry, but not necessarily for BTC. BTC does not need any government intervention or controls whatsoever. Only the greedy finance companies and criminal players need to be regulated.

  6. in an interview with Michael Saylor they tried to bait him into bashing Elon but Saylor said something like "he is a bigger Bitcoin champion than most people I know, sure he sold alot of his Bitcoin but he still Holds alot too"

    I´m more of a Saylor fan myself but Elon is a very inspiring individual too. Wish him all the best

  7. No question this World is better with Elon. Humanity's progress is determined by innovators, inventors, artists, engineers, designers, really anyone who creates stuff: Creators determine humanity's fate, NOT government policy or centralized organizations that waste everyone's taxes and resources.

  8. Overall Elon certainly is a positive for humanity but he has made some very dumb decisions. However that’s far outstripped by numerous great decisions. No one should be above scrutiny though and everyone makes mistake from time to time. There’s nothing wrong with a meritocracy! The cream rises and we all ultimately benefit.

  9. Boots on the ground perspective here, I use Solana every single day, I have a Web 3 business and I dabble in NFTs as well. Just grabbed about 60k USD of SOL NFTs today (ABC/Abracadabra, Okay Bears, Lunar, Claytopia, y00ts). This Ecosystem is strong as ever, the best devs are building, and the TPS has been a godsend. All in all, Solana is stronger than ever, and clearly the go-to chain atm in terms of speed, adoption, user activity, etc. SOL to the Moon!!!

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