EP019 – Bitcoin, Cryptos, and Money with the Realistic Trader – Siam Kidd
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As 2017 ends and another year starts, it is only timely to reassess our investments and see in which ways can we improve our finances in 2018. With that being said, I wanted to touch on the topic of Cryptocurrency, what it is, how is it affecting the future of banking, and this being a relatively “New” thing — what are some important tips that we need to know before jumping into the Bitcoin bandwagon.
In this episode we are joined by a futuristic guest, the Realistic Trader – Siam Kidd who has an extensive knowledge in cryptocurrency, trading and money in general. He has over 15 years of experience in currency and forex trading, so he is the guy to talk to when it comes to understanding how the banking system works and how money moves the markets.
In this episode Siam shares with us a load of great tips and tricks when it comes to trading, cryptocurrency, bitcoins, and the future of banking. Siam also shares how he was not always an ace trader, in fact it took him four years to breakeven.
We discussed how important it is to know what NOT to do (this helped him succeed in trading).
We also tackled how when we cannot do something, it is always because of knowledge, skill, or talent deficit.
Siam who’s been a veteran in the trading field explains how your money’s ownership is transferred to your bank once you make that deposit. And this is the reason why bitcoin is very appealing – it is owned by no one, and it is decentralised.
He shares interesting facts about bitcoins, and that only 21 million bitcoins were ever produced, no more, no less. One million of which were kept by its creators for him/her/themselves.
Siam also discussed what is bitcoin mining, how it is done, and why is it done.He also talked about how secure cryptocurrencies and bitcoins are, that they are considered unhackable, and we also talked about how to put your bitcoins in your wallet.
We also talked about cryptocurrencies in different currencies (crypto pounds, crypto dollars,etc.) and how everyone is looking forward at a cashless society. We also tackled how this would affect the current banking system.
To contact Siam, you can visit his website at http://www.therealistictrader.com/
Links and Resources
Whenever you can’t do something, it is always because of talent, knowledge, or skill deficit. – Siam Kidd
If others can do it, I can! – Siam Kidd
Bitcoins can be found nowhere and everywhere. – Siam Kidd