Ask Coindirect CPO Stephen Young Anything About Cryptocurrencies

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tmank

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A lot has been said about cryptocurrencies enabling terrorism and illegal activities. Is there a way it can be used to curb corruption?
 

kevinsnov

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In South Africa crypto currency is relatively still new, how long do you think it will take before crypto currency will become an accepted form of payment at store not just online stores?
 

comanche

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Traditional investments urge us to take the long route. Invest for 5 years, 10 years, 25 years. etc. Is this a wise route to take with regards to investing in Crypto, or should we keep it as a short-term & higher risk profile?
 

comanche

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Do you have any insights on mining crypto? If so, is there still a market for people wanting to invest in hardware vs buying actual coins?
 

wizardofid

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I have not mined nor have I ever considered purchasing any crypto as either as method to pay or as an investment, how would you convince some one to do so in 100 words or less.
 

marco79

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Do you think there will a BTC ETF approval this year? And if approved, how would this impact our local (South African) ETF market?
 

Ryan-ED

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Hi, Mr. Young.

I am a BCom student looking now to get into blockchain and maybe pick up some programming skills.

To the best of your understanding, what programming languages and frameworks would you recommend I'd start learning in order to be a blockchain developer?

I have no programming experience. I'd maybe also like to work with Ethereum in the future.

Thanks.
 

COMPUTEK

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Do you agree/disagree that Bitcoin will survive due to its "Byzantine general fault tolerance" (proof of work) over other crypo blockchains? Explain?
 

rialto

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Should crypto currency form part of your overall investment portfolio and if so, what percentage will you recommend for person close to retirement?
 

Fostine

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If cryptocurrencies like bitcoin crash, what impact it will cause to global economy?
 

hongkongpom

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After buying a cryptocurrency, is it best to store it on our computer or keep it with a broker third party please?
 

Denno

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With "the man in the street" now investing in crypto currencies, will this not lead to a great deal of volatility?
 

kl2018

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how do I choose a cryptocurrency and how do I know if that cryptocurrency is a good fit for me
 

Orkney

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What do you think of Brilliantgold that will launch end of August in Soutlh Africa?
 

louisnelza

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When can we expect to see true innovation to be the focus of the blockchain revolution instead of a focus on profits and the price of tokens?
 

Stephen Young

Coindirect CPO
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Aug 20, 2018
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Good evening! is it possible for a person with very little money and knowledge to ever invest in bitcoin etc?Thank you
Yes - you can buy as little as a millionth of a bitcoin and there are lots of altcoins that are affordable to allow you to enter the market. Make sure you do your research and only purchase coins you have researched and understand.
 
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Stephen Young

Coindirect CPO
Company Rep
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Aug 20, 2018
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If cryptocurrencies are this volatile, why then is it worth investing?
There are 2 ways to think about this question. As a trader or as an investor. As a trader there's money to be made in volatile markets, traders are mostly concerned with taking advantgae of price action (prices moving up and down). If you are a long term investor and you're looking to hodl then you should be planning on a 5-10+ years investment. This means you shouldn't really care about the short term swings in the market.
 
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