Expert Reacts to Crypto TikToks

I'm the founder of Australia's leading crypto research company and today my team have put together some financial advice. TikToks in crypto. So I'm going to give you my reactions. I've never seen these videos live, so I'm going to watch them right now. I'm going to give you my feedback. Three Crypto I'm buying now. The first one is Kraftpa, a proof of work crypto that I think is going to perform well and I added some more to my portfolio. Second one, egld, a layer one blockchain and I accumulated more as a big squeeze. Could happen soon. Third one, vsg, another layer one that should launch its mainnet in September. And I see a good upside potential. Inshallah. Let me know in the comments what coins are you holding and join my free telegram group if you haven't done it yet. Okay, so these videos are wild, right? You basically get someone that's come on, you know, online on socials and just pumping some, some crazy low cap meme coins. If we actually look at vsg, let's actually see what VSG even is because she's put the Ethereum logo in there and I've never even heard of vsg. So what we can do, we can go to Coingecko and you just type in the ticker VSG.

Here we go. So it's ranked 1881 with a market cap of 5 million. Right? Huge, huge warnings already. Anything that's less than like the top thousand coins, even the top 500 coins, is going to be super, super risky. The idea that she's put the Ethereum logo is really, really deceptive because it's not an Ethereum based project. It's on the Ethereum blockchain, but it's not built by Ethereum.

I'm looking at their Twitter as well. I've got no mutual followers. That's always a bad, you know, a bad or a big warning sign. If there's no like credible people following the project, it looks like their website other website's just a disaster as well. So all of this is huge red flags. Anything that's like that low of a market cap with no mutual followers on Twitter and the, and the website just looks like it's been thrown together on WordPress is, is, is. Yeah, it's pretty poor. I would be staying well clear of these altcoins, especially in this market. Right? Over the last, you know, six or so months, only six or seven projects have actually outperformed Bitcoin, you know, in the market. So, like, trying to get involved in these, you know, crazy micro coins is just, it's a, it's a guaranteed way to lose money. If you want to get involved in crypto in 2024, all you have to do is three simple steps. One, open up your app store, download the phantom wallet, click the Jupiter Exchange and have your wallet funded with some crypto. And in 10 minutes you can be trading crypto. You can be buying crypto with no kyc, no centralization from any part of the world, as long as you have access to the Internet. That is what's going to cause the crypto super cycle. That's good if you know what you're doing and you know what a phantom wallet is and you know how to trade crypto, which 99% of people don't do. So I wouldn't recommend this at all. I would recommend doing that if you know crypto and you've been in the space for a little while. But I'll be starting out with understanding why you're getting into crypto, just starting out with some bitcoin, figuring out what's going on in the crypto space before going into headfirst into phantom and trading crypto, or I guarantee you're going to lose a bunch of money. If you invest in crypto and you're in Australia, you need to know how the tax works. Here's some things I've learned to make things a lot easier. Firstly, if you swap crypto from coin to coin, for example, Bitcoin to Ethereum, that is seen as a taxable event. Second, if you've lost money or you're down heaps in your crypto like I am right now, there's something called tax loss harvesting. This is where you can sell for a loss so you can offset. This is really good. So there's a lot of hidden tax impacts that a lot of people don't recognize when they get into crypto. And they only do it two or three years later to find out they have all of these tax liabilities because they traded in between. So I would highly, highly recommend keeping a record and speaking to a professional tax accountant because you're going to save you a bunch of money, especially when you're leading up to the end of financial year, that tax harvesting is a really cool way where you can sort of reduce some losses. So some good advice, always do your taxes step by step. How to start trading crypto for beginners. Number one, start learning about things like market orders, patterns and exchanges. Number two, start learning all about crypto, learning about the coins and all of the different terms. And obviously a great place to do that is YouTube. To help you out, here are a few of my favorite YouTubers. YouTubers to get started, number three, go on to tradingview.com, get an account started and start looking through the back end to familiarize yourself. Number four is the real secret Sauce thistle Oracle indicator instead of guessing when to buy and sell. Because when it comes to your money and trading, why would you want to guess when there's brilliant people out there who know cryptocurrency trading and have already built the software? Oh my God, it's just freaking amazing. If you found this helpful, be sure to hit that plus sign for more crypto trading tips. There's always a perfect indicator. There's always something that you know you can go follow. Don't have to do any work. Why would you want to do any work when someone else has got it? If someone has this magical indicator that can make a bunch of money, why on earth would they be giving it to someone on TikTok to give to you and I to trade? Right? If someone has a magical indicator, they're going to have all the money, all the quants, all the funds themselves, and going to make a lot more money than giving it away on TikTok for free. So these like, special indicators and stuff that people share, they can be helpful, but there's never a crystal ball indicator that's going to give you exactly what you need. When to trade, when to get out. It doesn't exist. They sell the dream and it never delivers. So, yes, TA can help you with your investing and trading, but I'd steer clear of trying to think that there's some sort of magical indicator that doesn't exist. Keep hearing the word cold wallet everywhere when people are talking about crypto. If you're new to crypto, this is something that you're probably asking. A cold wallet is an actual device. It's a physical device like a USB stick that allows you to hold the passwords to access the cryptocurrency that's on it on the blockchain. I know that sounded very complex, but let's break it down even more. On a cold storage wallet, you're able to store cryptocurrency in your own custody. This is different from having it on a website, like an exchange, where they own the cryptocurrency and they just. Yes, this guy's spot on. So you can't touch crypto, obviously, but basically what you're doing with your cold wallet is you're storing the password to access your account on the blockchain. By using a centralized exchange like Coinbase, they're essentially doing all the work for you. But the most secure way of holding your own crypto in your own custody is moving your crypto into your own account and storing that password on your ledger or your trezor. So people get worried about losing their ledger or your trezor. It's okay, you can lose it, but you can't lose the 24 words that gets access to your account. Those 24 words are essentially stored in that wallet for you, and that's how you get access to your crypto. So you. Yeah, self custody and cold storage is the most valuable thing that you need with your crypto. You can hold it on a centralized exchange, but, you know, you're adding that little bit more risk. What is bitcoin? Bitcoin is, I love this video. Is the world's first cryptocurrency and it works because of the world's first public blockchain network. What does bitcoin do? It's simple. It lets you send and receive value to and from anyone in the world using nothing more than a computer and an Internet connection. Okay. So this guy basically came into Congress. I'm not sure who he is or how he came about, but he did. I think it was like a five or six minute talk on what is bitcoin? And explained it to everyone. And it was, it was, it was epic. So that was only like a 20 or 30 second snippet. But his explanation of Bitcoin, the full 6 minute one was. Was unbelievable. I loved it. This fucking Genius just turned $800 into nearly $700,000. He bought a coin called Gin and the Cat, which is a meme of a cat. After he bought, the price skyrocketed, making him huge amounts of profits. He was literally one of the first people to buy this coin. This trade wasn't luck, this was skill. Because all these trades happen every single day in the crypto market. I research the crypto market daily and post all my trades inside my free telegram. So if you. It's never luck, it's always skill turning. What do you say? How much ingenious. Just turned $800 into nearly 700,000. $800 into 700,000. Obviously, skill. So a couple of things with these. This is a platform called pump fun. Only about 0.2% of people actually make more than $10,000. 99% of people lose. Right. So when he's saying skill, not luck. I would argue that this was a lot more luck than skills. And the other thing with a lot of these coins when you get in so early is the liquidity, right? So the amount of money you have in there is all well and good but you still need someone to buy that off you. So when you have a low liquidity project, when you've got a low market cap and you've got a lot of money in there, like this guy, let's say he's got 700,000, I think the market cap was like 24 million. The liquidity of actually being able to get that money out is quite, is, you know, the probability is quite low. So yes, his tokens are worth $700,000 but someone's got to buy that from him and if there's no buyers or there's only a few buyers, he won't get that amount of money. So again, all well and good and I love that at the end if you want to make this, come and join my program. It's just classic, classic, classic, sell the dream and then come and buy my course.

Oh, anything that's xrp. I just makes me want to vomit. So the idea that he thinks that XRP can get to 12 dol is ridiculous. XRP would essentially need to get to like the market cap of Ethereum which is like over half a trillion to get to these levels which is just not going to happen. XRP is down, if not flat, if not down over the last four years. The biggest thing that people forget when looking at a token price is that the token price doesn't matter. Right? It's the market cap. So with the, you know, the increasing supply that XRP creates in the ecosystem, they are printing so many more tokens into the market. That's why the price has essentially done nothing is because they keep pumping the supply, meaning they need more and more demand for the price to go up. So it's not impossible but it's not going to happen in anything. It's like xrp. How many views is this guy? I don't even know. Talk about the price of xrp. I can confirm this that the International Monetary Fund has already agreed on a price before all this integration started to happen. So this was a few years ago they agreed upon a price and I got a lot of information from Linda P. Jones has a friend who worked at the Central bank of Australia. She said Central bank of Australia buying XRPON price, it's in the thousands. XRP is a financial instrument to serve the world when you start to take all these things into account. And again.

This is actually funny. That is absolutely not happening. The IMF or the Australian Reserve bank is 100 not buying XRP. They're not even buying bitcoin. And this guy reckons is going to get a thousands of dollars which is. It's.

I will give him this. They're marketing and they're like, however they do this in terms of their influences and whatever's going on is like second to none. Like, no wonder so many people buy XRP and lose. It's just like this is oh.

So serious.

Guys. Cardi B is about to make some people feel feverish in crypto and we can profit off it too. Here's how. And if you're wondering where I am right now, I'm currently in Bali and it's because of crypto that I'm able to continuously. I've actually never seen crypto think this is ridiculous. So this guy, anyone's doing content from a beach.

Block. Oh, so I'm not even watch the rest of this. Basically what he's pushing is Cardi B, along with a million other influencers have tried to create their own cryptocurrency and their meme coins and they none of them have essentially put off. The only one that's come close to creating anything valuable was Iggy Azalea with, with Mother. And I think it's still, you know, around but you got to be so careful with these. All these influences are just there for cash grabs. 99% of these influencer tokens go to zero. And so many of the, the previous ones have been, you know, the builders of these projects have been tied to scams and rug pulls and whatever. So I'd stay well clear of celebrity meme coins and just stick with the, you know, popcats, whiffs, etc. I wouldn't go to these celebrity coins. And don't listen to a guy in sunglasses on a beach telling you to buy.

Iranian criminals or any other criminals. The US dollar is the reserve currency for a reason. Cash is king when it comes to illicit finance, not cryptocurrency. Is that beyond dispute? I think Chainal put out a report that said it was like 0.12% of all the crypto transactions were illicit and all crypto transactions combined are a tiny fraction of US dollar transactions. So could it possibly be objectively true that the preferred currency for illicit activity is crypto? When it comes to set of transactions, we said it was 0.24% of the transactions in cryptocurrency can be linked specifically to illicit activity. And yes, that's a very, very small subset of the overall transaction volume in the traditional financial system. Came out right, very. This is, this is actually true. So it's a great narrative. The idea that bitcoin and crypto is, you know, is a, is used for illicit, you know, activities but cash is the thing that, you know, people have been using for, you know, tens, hundreds of years for nefarious activities. Right. It's just because bitcoin and crypto is on the blockchain, you can sort of review it. So yeah, I think. What was the number there? 0.24% of transactions in crypto can actually be linked to illegal activities. Way more in the fiat currency space. That's, it's a completely debunked thing. The Cardano community is always looking for price predictions. Not that we can say by 2024, 2025 price will be exactly this price. But if we look at Fibonacci extensions, we can suggest a 10 to 17 price point by the end of the next bull run. Okay, so Cardano is just as bad as xrp. XRP is a little bit worse. The price predictions, again, token price doesn't matter. Back to the market cap. Cardano would have to hit beyond Ethereum's previous all time market cap of about half a trillion to hit this price prediction, which I just is just not going to happen. In my opinion. It's about a 45x from where we are now. So again, Cardano is one of those older layer one chains. It hasn't had a lot of momentum, it's not really in the limelight. It's not a very exciting new narrative that's coming to the market. I don't see this happening at all. And I, you know, wouldn't advise anyone to buy Cardano ever. Earn $70 with a thousand dollars on the TRX price difference between Binance and Basdex. Buy TRX on Binance. Start by buying a thousand dollars worth of TRX on Binance. This is your initial investment. Next we'll transfer the TRX to Basdex where.

Okay, so the idea that you can just make a thousand dollars a day, it's always too good to be true. 99% of the time it's a scam. I've never seen anyone be able to do that. And anyone selling that, again, probably a scam. This idea that the Bazdex looks like a bit of a scam exchange as well. Anything like this trying to make this money. A lot of these people just try and pry on people that don't have money to try and make that, and they get this idea that they can make a thousand dollars a day or passive income or 1% a day. It's absolutely nonsense and you're going to lose. Ever wonder how much electricity it takes to mine one bitcoin? It takes an average of 266,000 kilowatt hours to mine a single bitcoin. Surprisingly, bitcoin's hourly electricity consumption rate doesn't appear as high when compared to common household appliances. So how much does it cost to mine one bitcoin at home? Around the world, it's $46,291 on average, with Europe leading at $85,767. Asia is the only region where solo mining remains profitable with the lowest average costs of $20,635. The top 10 countries with the lowest electricity costs include Lebanon, Iran and Syria, with electric costs as low as $266 to mine one bitcoin. In contrast, mining in Italy, Austria and Belgium is highly unprofitable due to soaring electricity prices. Find out more in the link in bio. This is actually pretty accurate. So although it's maybe a little bit outdated, a lot of the idea that bitcoin was super bad for the environment was a little bit exaggerated. And we're starting to see a lot more renewable sources, especially in energy plants and things like that, being able to mine bitcoin. One of my friends owns a. A power plant. A. I'm sorry, not a power plant, a solar. Solar panel energy plant over in, you know, Western Australia. And he uses the excess energy from his plant to be able to push through and mine bitcoin. And I think more and more people are going to come to that because if you've got excess energy, usually you're just going to leave it and lose a bunch of money on it. But you can plug in some, you know, mining operators and actually start to start to make some money off. And I think more and more people are going to catch on to that. So don't get too caught up into the fud around that being a reason to or not buy bitcoin a lot more. Especially as mining becomes. Becomes harder and the rewards become lower. Everyone's fighting for cheaper energy sources, which usually goes to renewables. Pepe is about to make you a millionaire and buy you a Lambo in 2024 because it is currently in a huge falling wedge pattern with a breakout target of over 150%. However, since this breakout can take a lot of time to happen, people are starting to switch to a new meme coin called Giga Cat. Giga Cat is the ultimate meme coin, combining the two no most powerful forces in the Salana ecosystem, the iconic meme cat culture and the unstoppable Gigachad energy. With the recent trend in cat meme coins, Giga Cat has gained massive attention and become the most attractive project with huge potential for success. So make sure not to miss out on this because this stuff is just crazy. Like, I can't fathom that this is where people get their information from. Like, obviously it gets people excited. If you don't have much of an idea and you want to make a bunch of money, that that's kind of where you're going to go. But this idea that you promise to be a millionaire by the Lambos is automatic. Like, unfollow, mute, get away from that. And just to shill another coin, they're essentially going, you can make this money soon, but if you want to make it faster, come and buy my other shitty project. Like, that's just garbage. Honestly. There's 2.5 million cryptocurrencies, right? There's about 60,000 new coins created per day. It's nuts. The idea that, you know, all these coins just because they, you know, it's got a lot of traction on TikTok is going to go up is just false, right? A lot of these meme coins is very deeply ingrained into culture and community and it's very hard to find very small micro cap coins that actually you can get in on the ground floor. A lot of it is way more luck than skill. Again, if you want to try and, you know, get those returns, I try and focus on the top top hundred, top 200 meme coins in the top market cap versus trying to find the micro caps. Because more often than not you're just going to, you know, pile a bunch of eth or a bunch of money into these coins and, you know, 99% of them are going to go down.

This guy's just showing a bunch of results, which is always good. You know, you want to see results of someone that's, you know, trying to teach you stuff. But if you look on a lot of those screenshots, he was using 10x leverage across most of those screenshots, which is can be quite dangerous if you don't know what you're doing. So the results, again, they look great because he's making all these percentages but it's also to the downside. And we don't know what his downside looks like either. He's just showing us all of his wins, which is another red flag. Trust and transparency and showing, you know, your wins and your losses is something that, you know, we, we do because that is credible. What's not credible is, you know, just seeing all the wins and not seeing, you know, the lessons or things on the downside. You will never, ever find a good trader or any trader that's 100% right. Anyone that claims to be 100% right is, is, is lying to you because it's just not, not the reality. So just be, just be careful. I hope some of those reactions helped you remember in a crypto or any financial markets, they are winners and losers. We are playing against each other. It's not a computer game. So remember, the incentives that people are giving you are usually for their own benefit, not to help you. The people that are winning the most in crypto, the big whales, the big institutions, are not selling that information. They keep it for themselves and profit off it. Anyone who is trying to sell you a course or a dream or 1% a day, $1,000 per day, is more so trying to make money through their courses versus how actually they are good at crypto and trading. So please be careful if you do need help. We are full time investors ourselves and we simply are just sharing what we're doing over on our research platform with Collective Shift. So jump over and check it out. Otherwise I'll see you on the next video.