SharkPod #73 ”Financial Freedom Through Bitcoin?” - With Shane Talty of Kryptalk

What is Up SharkNation!

In this episode Luke and Mark learn about Bitcoin and crypto investing from Kryptalk's Shane Talty. Shane has been investing in Bitcoin for years and runs a YouTube channel where he provides updates and insights on all things bitcoin.

Luke and Mark are looking to become investors in crypto but want to get a good grounding in the subject before they dive in. Shane provides his take on Bitcoin investing as well as his story of how he got involved.

Key Take aways:

1. Cryptocurrencies are volatile and investors should learn all they can about them before investing.

2. Like other investments, a long term view is helpful to manage emotions during down cycles. 

3. There are a lot of exchanges out there but Coinbase have made it very easy to start investing, and because they are a publicly traded company they feel more safe than other exchanges.

    4. There are trading strategies out there for "scalping" alternative coins in speculative trades but these strategies require special knowledge and don't suit the long term investor.

    5. There may be a future where crypto currency is the defacto way to pay for things, but this is a long way off.

6. When Luke and Mark start investing they will be 'dollar cost averaging' - meaning they will be buying when the market moves up, down, or sideways, constantly. In this way they should be able to smooth out their return over time and avoid trying to "time the market.

If you would like to watch Shane in action his Youtube channel is here:  https://www.youtube.com/channel/UC9d0CqTAyAvOiOn4-UGUg1A

Book mentioned as a good resource to learn about Bitcoin: https://www.amazon.co.uk/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

For feedback: Luke@shark.ie