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The show that brings you in contact with the Men and Women who are playing their own part in the development of Steem Community is back.
Our guest for this week is Crypto-currency Whiz @kingscrown, who have come to impart his knowledge to us this week. This is the second part of his interview, you can get the first part HERE
Ladies and Gentlemen I give @kingscrown.
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Ogochukwu: Cryptography and cryptocurrency mining are tough subjects to explain to the masses, which way or approach do you think will make explaining it easier?
Kingscrown: Just let them learn about currencies at one point they will start understansing the basics or maybe wont. You dont need to know how TV is built to watch and use it.
Ogochukwu: There are a lot of ICO’s being announced world-wide what is your advice to anyone who want to take part in an ICO?
Kingscrown: Do big research, alot of them are runs for the money and dont even try to deliver products.
Ogochukwu: What Bitcoin exchange do you feel is the best to exchange with?
Kingscrown: I love BTC-E since always. It saved me to not loose a dime in MtGox, and despite its anonymous it never had bigger issues.
Ogochukwu: What do you think about the potentials of crypto currency in countries like India and China?
Kingscrown: China will always be main price driver, currenty they have issues with withdrawals but they will be back.
Now Japan and Korea are pushing the price. India has good premium but still volumes are small.
Ogochukwu: What do you think is the biggest threat to crypto-currency?
Kingscrown: Like i said before – governaments and their lack of idea how to get cut of the market.
Ogochukwu: What effect do you think Bitcoin will have on the U.S dollar in years time?
Kingscrown: At this point they are corelated, same as OIL. Until this price pair is changed to CNY or something else its a live organism. One side goes up, the other goes down.
If BTC was worth 1 million USD, then probably this 1 mill USD would have buying power of less than todays 1k USD. Its just numbers, what you can buy with it matters.
Ogochukwu: If you were asked to deal with only one crypto currency which will you choose and why?
Kingscrown: Litecoin. I love it since ages. Its fast, has activate SegWit, soon will have anonymous transactions and works great. I prefer it than BTC.
Ogochukwu: DO you think that the price of Steem will hit $5 by the end of this year?
Kingscrown: SBD has hit almost 7 SBD for some hours so anything can happen. But stabile 5USD i dont see at this point.
Ogochukwu: What is your general advice to Steemians world-wide?
Kingscrown: Relax, dont fight, dont envy others and Steem ON!
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Thank you all for reading, follow this blog for more educative interviews with The Rainmakers on Steemit.
Our guest for next week is Community Third-Party Developer @good-karma, who have been making our Steem lives easier with his Products. It is an interview you Would't want to Miss.
Follow @ogochukwu for more Educative content.
So litecoin even over etherium. Why is that exactly @kingscrown?
LTC is a currency, ETH is not.
Its just my prefered coin. Also todya ETH chain got pretty stuck, just like our old friend BTC
Ok, so in your opinion, if i Am looking to invest Litecoin is the best bet? I Am kind of struggeling where to put my money in these days, as it looks to me all of them are interesting.
This is my first time coming across someone favoring LTC over ETH. It's interesting. Could you please explain further why exactly? I assume you are not impressed with the smart contract concept and all of the development and innovation evolving out of ETH?
Had some problems with ETH myself sending it between exchanges. It resolved thankfully! I stocked up decently with LTC on your advice. ;)
This is very interesting.
After reading that, I researched a little and found something really interesting.
$1 USD over a century ago was much more worthy than a dollar today. Looking at the progress over a period of time, we see that the buying power has been inversely proportional to the supply; as the supply increases - the buying power decreases.
Source
In case of BTC(used for representing cryptocurrencies in general) however, it's been exactly the opposite - what 1BTC could buy in 2009/2010 is much lesser than what 1BTC can buy today even though the supply has been increasing. But quite a few more factors come into play here - there's a cap in terms of total production, the demand is high and a lot of hype even if the acceptance isn't really very wide yet.
THE BUYING POWER OF USD OVER THE LAST CENTURY
Great insights by @kingscrown and great interview @ogochukwu
Hello @isteemit
I am very grateful for the added value you have brought to this interview. This comment alone is worth a resteem. I am glad I have you with me and i promise to always return the favour whenever I can.
Followed You
Thank you @ogochukwu :D
Thank you for the interview @kingscrown and @ogochukwu.
Your general advice to Steemians is right on point for building community @kingscrown :-)
Thanks for reading @bilbop . I am glad you enjoyed it.
You're most welcome @ogochukwu. Educating steemians through interviews is helpful for both newbies and veterans. Steem on :-)
Glad you liked it :)
Great interview! Gave a lot of essential current events
I am glad you enjoyed the Interview
Bitcoin is still going to talk a lot because it is the pioneer and this has a lot of value.
But the problem of slow transactions is killing bitcoin. @diegot02
The segwit will be implemented soon and this will be solved.
The faster they implement the Segwit the better, it still has to go through a lot of process. @diegot02
Great interview by @ogochukwu for @kingscrown! Such a knowledgeable guy when it comes to crypto. Great job! :)
Thanks @ezzy for reading and for your kind words
Thanks ezzy good to see you active again!
There's gold in this interview. Thank you for making it!
Hello @the-ego-is-you
I am glad that this interview was of value to you. Thanks for the resteem.
Followed You.
P.S I am starting a new series soon with Steemit Whales and Dolphins on blog growth so you might want to pay close attention to my blog.
interesting interviews !!
great interview! thanks, @kingscrown and @ogochukwu :)
wow man thank you so much for that post will help me out :), can you might please follow me also and help me started :)