When Dr Chris Kacher came across blockchain for the first time he realised he had found something not only unique, but special too. He could see that this was the way of the future and that if humankind were ever to be truly free and step away from governments, this was the way to do it.
Takeaways
Why Warren Buffett has it all wrong when it comes to crypto currencies
The point of investing is to make money - do it however you are comfortable
How blockchain could help to avert global financial market collapse
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Chris Kacher holds a Ph.D. in nuclear physics from UC Berkeley and helped to discover element 110 on the Periodic Table of Elements. He then turned stock and cryptocurrency trading genius who wrote the bestseller How We Made 18,000% In The Stock Market among other books.
Chris has a passion for blockchain and is excited about how it can improve the established order of things. He is co-founder of the website www.selfishinvesting.com. It contains some of his articles which can be found under the title headings "Dr. K's Crypto-Corner". (If you do a keyword search).
The point of investing is to make money, so it doesn't matter where you do it as long as it happens. A lot of people who are doing well and are the leaders in their own space have been doing it for years. This does not mean they understand the new ways of doing things including bitcoin.
They miss out on these amazing chances by sticking to the same thing they've always done. Many people say it's just a mania and will fade out - but they are failing to realise the importance of it. They're missing how transformative it is, but Chris Kacher knows just what it has the potential to do.
Blockchain in the beating heart of bitcoin. There are other coins. Litecoin is cheaper and faster than bitcoin, for example, but the most important thing is which is being used most, as that is the one that will survive. Right now, says Chris, that's bitcoin. But it can all change.
Will bitcoin be eclipsed by something else? Chris thinks it's impossible to say - lots of people are making predictions but the same thing happened with the internet. Lots of predictions were made but pretty much none of them came true. No one knows.
If a particular protocol has value in the cryptospace then it could become a mainstay. A lot of technologies will be built on the bitcoin blockchain because companies can build on it.
Bitcoin may become the ultimate winner, because it is the absolute giant. It is certainly possible that other major cryptocurrencies will come in. However, bitcoin is still worth double what it's nearest competitor, Etherium, is worth. This is important to note. It also has the highest hashing power by far.
When the cryptocurrencies become a means of exchange, they will have become part of the mainstream. Whichever gets there first will be the winner. It will be a lot more stable that way too, and will stop getting inflated in the way that it has been.
Will governments start shutting it down? Dr. Kacher says government control always increases over time which eventually quashes productivity and freedom. The brilliance behind blockchain is that there is no need for trusted third parties like banks or governments in their current form. Both would fade in power and influence. There is not a lot they can do about it and that could even mean that governments just fade away and no longer serve as much of a purpose as they once did. Or they will look to integrate blockchain technology which will result in a win-win situation for all as a new, more efficient type of government emerges. Ultimately, if they can no longer print fiat money as bitcoin potentially takes over as suggested by both Tim Draper and the CEO of Twitter, governments will need to be much smaller (or much more efficient!).
How does blockchain help with making people more free? Governments and banks are artificially created trusted third parties. So by bypassing these existing elements and freeing people from the shackles of government means that they are much freer.
Blockchain is still in its infancy, but there is a huge period of stellar growth ahead. Right now, estimates Chris Kacher, the whole space is worth about $450 billion. That is going to jump by potentially two or more orders of magnitude over the next several years.
Thus Dr. Kacher's prediction of $1,000,000 a bitcoin by 2022 still stands. It is an amazing time to invest properly in the right coins. Keep in mind that just as with the dot.coms, most of these coins will go to zero so due diligence is key.
It's only a matter of time before governments are going to crumble under their massive debts. If they incorporate blockchain currencies into the way they work, they can at least soften the blow.
It's still worth investing. It's not too late. Blockchain is still so very young, so very small; it's going to grow into a giant. So yes, invest now if you are interested and want to do it. Be careful though; there are lots of scams out there, so you need to do your research to get it right.
Dr Chris Kacher can be found by searching 'Crypto Corner' at www.selfishinvesting.com
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