 Okay. Now, without further ado, let's begin. Okay. Let's begin today's session, right? So anyway, anyway, right, before we begin, I always need to share with you guys a disclaimer that, you know, this webinar, this webinar is purely educational nature, right? So nothing, nothing covered in this webinar should be construed as investment advice and trading advice. So please, you know, do your only due diligence before you start trading, especially, you know, the world of crypto, the world of CFDs, right, very high risk, right? So, so yes, you know, always do your own due diligence before you trade. All right, guys, now, if you're, for those of you who are just tuning in, I encourage you to send your messages throughout the webinar. I literally have another screen that is open here. Monitoring your questions that are coming through. Right. So yeah, just take a chance to send it through. Otherwise, you know, I'm afraid that we might not have time to to touch on these questions towards the end of the webinar. Right. So yeah, just don't worry. Okay, just send your just send your questions through. All right. Now, guys, first and foremost, right, introducing your host for today. My name is Desmond Leung, you guys might have seen me around. I might see me around, you know, I write a lot of the research and analysis for TickMeal, you know, on the TickMeal blog, right? Some things, I guess, worth, where's my handy dandy pen? Yeah. Yes. Some things are just a really short introduction of me, right? I run the award winning research firm, Avers Fortune Group, and also the Forex Army, right? So we are finalists for 2019, 2020, and 2021 for best effects and equity research. So, you know, our team, we have a pretty strong team of CFA, CMT and CFTE accredited traders, right? And usually we, you know, we regularly advise banks, brokers and hedge funds. We have a special partnership with TickMeal where we try to bring you the institutional grade research, the institutional grade education, you know, to help you navigate the markets better. Right. So yeah, you know, I do some crazy indicators and EAs over at the Forex Army. And if you want to follow me on Instagram, you know, can check out comfy Desmond. So nothing interesting there, right? It's mainly me and my cat and me playing FIFA, right? Not much of that kind of, you know, the kind of what we call Instagram traders, you know, as Lamborghinis and stuff. It's a very chill place, right? So yeah, you know, for those of you guys who want to check it out. Anyway, right, without further ado, let me tell you, let me share with you what's the agenda for today, right? So our agenda for today is, you know, we're going to cover, firstly, what is cryptocurrency, right? I can see Aruna already sending in a question, right? Whether Bitcoin currently has a bounce trap, and whether we think 40K, you know, is a bear trap. We'll take a look at that. Hopefully we can maybe throw out the webinar or towards the end of the webinar where I've got my charts prepared to share to share if you actually, how do you trade Bitcoin and what affects the price of Bitcoin? Right. So, so hopefully you get time to look at that. Right. For those of you guys who have been following the Tick Neal blog, right, we did call the bounce right above the 30K level. So if you got in on that, it's awesome, right? If not, there are plenty of opportunities, right? Plenty of opportunities, right? But in today's webinar, what we're going to cover is, you know, what exactly is cryptocurrency? What exactly is Bitcoin, right? We touched a little bit on Bitcoin mining, right? Because it traditionally is a pretty popular question, right? It's what is Bitcoin mining? What is the halving, you know, when the rewards get cut by half, right? What is it? Is it profitable? You know, we as traders, you know, always looking for ways to make money when it comes to trading, right? So, you know, is Bitcoin mining profitable, right? And of course, we look at some ways we can trade Bitcoin, right? Everyone knows we can trade Bitcoin on the crypto exchanges, but we will take a look at trading Bitcoin on Tick Neal later, okay? But anyway, I just want to share with you really quickly on what is cryptocurrency. The definitions you get out there are more often than not, you know, it gives it, it leaves you, it leaves you with a little bit more questions than you started, right? So sometimes, you know, cryptocurrency, you know, you go on Google and you're like, okay, what is cryptocurrency? And they're like, okay, it's cryptography, you know, it's decentralized blockchain, right? And you're like, what in the world? They are just read, right? So today, I just take a little bit of time to explain to you. Yeah, take a little bit of time to explain to you on what cryptocurrency is. We got a question coming in from Janu saying that, you know, topics cryptocurrency agenda seems to be focused quite a bit on Bitcoin, right? So he's asking, you know, are you saying it's the same rules, features and risks that are related to other cryptocurrencies, right? So as you can see over here, you know, what is cryptocurrency? We don't just zoom in on the Bitcoin, right? We don't just zoom in on Bitcoin, we have Ethereum, we got Litecoin, we got Dodge, I'll get it, not Dodge, right? But you know, we can add probably Dodgecoin here or something, you know, a Bitcoin hash, right? But essentially, it is Bitcoin is just one of the cryptocurrencies, it is the most popular cryptocurrency, right? But that is not to say that there are not other cryptocurrencies around, right? So a lot of what applies to Bitcoin, understanding how Bitcoin comes about, the logic behind it, the way it is mined, it is equally applicable, you know, to Litecoin is equally applicable to Ethereum and Dash, right? So yeah, you know, I'm just making reference to Bitcoin as, you know, as more or less the leader, there are a lot of different altcoins out there, and there are some really, really exotic ways to treat them. I mean, if you dive deep enough, you know, you see there are a lot of pump and dump kind of schemes out there, you know, a lot of fake celebrity endorsements that try to push out the popularity and price of different altcoins, right? And in some way, I'm not sure if you guys have actually seen penny stocks before, you know, one of the penny stocks were very notorious in the past for, excuse me, yeah, penny stocks were very notorious in the past for stuff like pump and dump, right? So in some sense, all the many, many altcoins out there, you know, all the different ICOs, it being so easy to create like, like different kind of cryptocurrencies has made it actually very, very dangerous. Well, this pump and dump scheme is super, now super prevalent, seen everywhere. And the worst thing is that because of, you know, how, you know, the, the, there isn't really that strong a regulation in monitoring this kind of cryptocurrencies, especially a smaller altcoins, people can easily get away with it, right? But, and that is why in this case, today we're actually focusing on the slightly larger cap on cryptocurrencies like Bitcoin, Ethereum, Dash, in some sense even Dodge, right? And, and yeah, so we are looking at the functionality, how it's created, right? And what kind of gives it value, right? Because a lot of people out there, you know, when it comes to trading crypto, you know, we kind of just treat it as like any other commodity, any other instrument to be traded, right? So today's session, you know, hopefully in further sessions, right, we'll look at really not only the appreciation of crypto, but what drives its value, you know, from a fundamental perspective, what drives its value from a technical perspective and how we can kind of play the fluctuations, you know, how we can play the big moves, you know, how we can, you know, stay out of getting caught on the wrong side of Elon Musk, you know, kind of announcements, right? So it's exciting space, right? It's growing in huge popularity, and hence, you know, today's webinar, right? So first and foremost, you know, cryptocurrencies, yeah, and anyway, thanks for the question, Janus. Janus, right? So first and foremost, you know, the big question, right? You know, what is cryptocurrency? You know, first thing that I want to focus on it is that it's kind of, it's like digital or virtual currencies that is secured by cryptography, right? Cryptography. So the important thing is that cryptography, you know, it makes it hard to be counterfeited, right? So, you know, people always first thing come in and say, okay, okay, you know, before you start showing up those big jargons here and there, you know, what exactly is cryptography, right? Essentially, in a nutshell, cryptography, right? You know, it's a matter of kind of protecting your information and communication through the use of code, right? So it makes it very, very hard for people to reverse engineer and kind of break it. So it's like a super duper secure system, right? So a large part of cryptocurrency is based on cryptography. So it makes it very hard, you know, to be counterfeited, very hard to, this very, very important term, like, you know, being able to double spend, right? And important thing that we want to take note of is that it's also decentralized network. A lot of people, you know, are saying, okay, you know, every time you see cryptocurrency, it goes hand in hand with decentralized, it goes hand in hand with the word blockchain. So the key question that comes in is wait, what is blockchain, right? Can you explain blockchain to me in a very, very simple form? You know, can you explain blockchain to me that, you know, I don't get lost within the first five words, right? All you need to know about blockchain is that, you know, it's a specific type of database, you know, it's just like putting multiple, where's my mouse, right? Multiple blocks together, right? That's why, you know, actually, for those of you guys who read the white paper, read the white paper on Bitcoin, right? There was actually no mention of blockchain. There was no mention of blockchain. Instead, the closest it actually went to was what we call a chain of blocks, right? So that was the closest to actually the mention of blockchain, right? But it's basically, you know, is most, most of the time, it's kind of used for leisure of, you know, of transactions, right? The important thing, right? The important reason why we're using blockchain is that, you know, we don't want a single person or group, you know, to have control over it. What does this mean? Okay. Who remembers, you know, what the Britannica was? Who, actually, who actually owned one of these encyclopedias, right? I'm curious, right? We didn't have audience over here. Who, and this gives me the idea of like, you know, which generations we come from, who actually owned, you know, one of these encyclopedias before? You know, who owned it, who didn't own it? Maybe you can, if you can share with me, right? You know, kind of give me an idea on, am I the only guy over here who actually owned an encyclopedia? Janus, yeah, he has one. Roshan is, yeah, Roshan, I can see you raising your hand. Don't worry. Oh, you're raising your hand because you're answering. Okay, no worries. I can see the people who raised their hands over here, right? Okay. Yeah. Okay. A couple of you guys do own an encyclopedia. So Britannica, right? Britannica, at one point in time, they employed over 100 writers, right? 100 writers, obviously, 1000 writers. And all they did was they tried to consolidate the world's information, right? And you can see how that is very dangerous. Because, you know, Britannica, in that sense, you know, you're like a centralized exchange, you know, you're like a centralized database and you control all the information that is kind of going out, right? So it is very easy to be manipulated. If you think about it, right, you know, some guy in Britannica is like, oh, you know, Donald Trump, you know, okay, what shall we put in this little section on Donald Trump, right, this, you know, was he a great guy, was he a bad guy, was he a crazy guy, right, you know, it's up to them to control it, right? So the problem with that, right, and that is just one topic. Imagine the world of Wikipedia where there's like a freaking million, you know, different topics out there, right? If it's all controlled by a single company like Britannica, it's very dangerous because it's, you know, can be easily manipulated, right? There, you know, you can give enough power, right, or, you know, give enough motivation, you know, you can do crazy stuff with it, right? And that's why Wikipedia is an example of what we call decentralized exchange, decentralized database, right, where there are multiple people adding in their inputs into Wikipedia, right? This is not the best, okay, this is actually a pretty good example of what we call by a centralized and decentralized, right, centralized, the dangers of, you know, something decentralized is that everyone can control it. No, no, it's like there's a single person, a single company can control it. And that is the danger of stuff, right, later I'll go on to explaining, right, if you think about it, right, if you think about it, right, things like, what's the word for it, central banks, right, printing money, you know, these are central banks, you know, so in a way it borrows on the word, you know, central, you know, centralized systems, central banks just deciding to print money, right, oh, you know, what's going to happen, we, you know, as a financial crisis, what shall we do, you know, just print some money, right, and, you know, the value of the currency drops, right, and in serious cases, you know, you know, your currency become worthless. Right, so that's the danger of it, and we'll be touching a little bit on that later but importantly, the one thing that I want to kind of share with you is that, you know, cryptocurrencies focus on like a decentralized exchange where, you know, there are multiple people, like everyone controls it, like Wikipedia is controlled by the people, right, Wikipedia is controlled by the people and versus Britannica which is just controlled by a single company, right, so you know, it's very importantly it's not controlled by central authority, so you know, it is theoretically, theoretically immune to the government interference, really seriously to improve my drawing, right, it's theoretically immune to the government's interference and it's immune to its manipulation, so you know, when I say manipulation, you know, I don't mean it in just a good or bad way, you know, manipulation, like, you know, you've seen how China can have a floating exchange rate, you know, they can pack their currencies, they can print more, you know, so that, you know, their exports are cheaper, you know, so those are kind of like currency manipulation on a small, large or legal scale, right, but cryptocurrency, you can do that, debatable in some sense, right, it might not be immune to government interference but you know, it might be immune to, might not be fully immune to crazy, to guys like Elon Musk, you know, and, you know, giving the ways almost being like manipulated to a certain degree, right, but as it further develops, you know, it will build up that kind of immunity, right, but this is also one of the things that actually affects the price of Bitcoin which is in the same way affects the price of, you know, fiat coins, fiat currencies, like the euro, the dollar, the Australian dollar, right, any news that comes on it, you know, can affect the price, right, but at least it's immune to like interference and manipulation. Okay. Now, we do want to touch on one important thing, which is like what exactly is Bitcoin, right, everyone knows Bitcoin. Okay, you know, it's like a digital currency, virtual currency. A little bit, that, you know, on the surface that might seem what it is, but what if I, what if I just kind of take it one level deeper and try to let you know the mean, you know, what exactly is Bitcoin to me, Bitcoin is actually, you know, it kind of changes the trust model. Okay, so, so, you know, follow me, right, imagine, you know, back in the day, right, when before currencies were created, you know, we had, we had little tiny gold bars, right, we got, you know, not tiny gold bars, we got gold bars, you know, which, which, which has a value. The important thing about gold bars, right, back then is that, you know, gold bars and one of the reasons why it's still so popular today is that it has a limited value. There's only that number of that, that limited number of gold bars that can be mined in this entire world. And that is why, and there's one important distinction, it has limited value. And it's very, you know, you can just decide to print more gold bars. You know, so, okay, so one of the important things is that gold bars, you know, have limited value, but back in the day, right, guys, back in the day, you know, we walk around and like, okay, I want to buy, I, you know, I want to go for a haircut. Right, go to barber, and, you know, maybe I give you a gold coin and stuff like that. No, even before gold coins, you know, I shave off a little bit of gold and give you, it's like, okay, you know, this is how many grams of gold. And how many grams of gold I like my haircut. Right, so back in the day that was gold, you know, we, we, we had something, we had gold. Right, then along the way, right, we, we decided that, you know, the, the banks, the government came in and it's like, hey, you know, I'm gonna, with that one gold bar, you know, exchange it for $100. So the, if you think about like the real definition of fiat, if I'm not wrong, the Latin meaning behind it is that, you know, there is, is basically what's the word for is that value is given to it. Right, meaning, right, in this case, right, the central bank, the government decides that, you know, okay, this is $100. So, so you can actually take your goal and you can go into the bank and you say that, okay, instead of carrying around little go bars and like shopping, but chopping them up, a little bit hard to chop, but you know, chopping them up so that I can buy stuff right now I can just weigh the goal, right, and I can just go and exchange it for maybe a hundred bucks, $100. Right, I do my shopping, once I got $100 can go back and you know, I can exchange it for a goal. All right, so at the core of it, you know, it's all a issue of trust, you know, we started off at goal and then we start, we go to fiat currencies. Right, and, and you know, this day and age, you know, fiat currencies, you know, it's owned by anyone. Right, but you must think about it, think about it very, very carefully. There's a small distinction here. Previously, we were trusting something. Go. Now we are trusting someone, you know, not not exactly this guy, but you get what I mean the central bank, the government. Right, previously is gold, you know, just mine, you know that there's only that fixed number of gold in the world, which you can mine up, right, but now you're trusting this guy. They're trusting the government, whether it's the US government, it's the Singapore government, you know, Botswana government, you trust someone. Right, and what is the downside of, you know, fiat currency? What is the downside of fiat currency? And if you zoom into it, right, there's one big problem. I run into two big problems. Firstly, it is centralized and who remembers our early example, which I was sharing with you guys on, on, on this, right, on the Britannica. Centralize. When something is centralized, when something is controlled by like a central authority, which is what the Britannica wanted to do in the past, you know, be the central authority to decide information. Right, there is dangerous to manipulation. There is dangerous to misrepresentation. There is dangerous to a lot of stuff. Right, they might just say who is Google right in today's 100 print of the Britannica encyclopedia. We decided to remove Google. Right, it's a fraud, you know, because Microsoft Bing decided to pay us enough money to remove Google. Right, so, you know, it's very dangerous in that sense where, you know, as if it's a central authority. Right. Okay, I got something coming in from Janu saying that I think everyone should be able to see to, you know, regarding the government right manipulations. What's happening this year with Bitcoin prices. And also other cryptocurrencies is result of decisions of China government they put serious restrictions on Bitcoin mining and trading in China, which seriously impact the crypto market and that is one thing which we will touch on towards the end of the webinar on what affects the prices of cryptocurrency. Right, so yeah, there are. There are ways that and this is not just recently guys, if you remember a lot of different. A lot of different. There are a lot of different news that has affected the prices of cryptocurrency on a government level on a company level PayPal deciding to accept crypto boom. Some banks decided to add allow crypto boom. You know, don't worry, don't worry. Right, I actually encourage this kind of questions along the way is great to see questions come true, you know, it facilitates discussions and you know that's what we want to do in this webinar. Right, so, so, so yeah, you know your point on this kind of manipulation. This is not like so called direct manipulation. Right, if you think about it is not really direct manipulation it is. There are. It's, you know, it's not like they're going in there they're deploying their supercomputers and trying to take over Bitcoin right but they're having things that make Bitcoin harder like and this is not only for China. Right, previously, you know, there are some countries like maybe Finland right there whether they welcome people to mine or you know they say hey, get off a country right. You know, you know your your mining is too expensive is not non sustainable all these kind of things you know it kind of affects the price of Bitcoin buys it isn't exactly if you think about it. When I think talking about manipulation. Right, let's just say what can a central bank do right a central bank can print money right can China can can China can the US can anyone print bitcoins. If you think about it know right can Google right can Google print bitcoins right so the interesting thing is like people are asking what if the big boys Google what the big boys and Google decide to mine cryptocurrency. Right, if you think about it guys. The when it comes to world of crypto. Right, the Bitcoin, the crypto mining network or Bitcoin mining network computing network is about 10,000 times a bigger than all of Google's you know computing network combined. So it's not much if you think about it. Right, and so you kind of don't need to worry that you know, governments are able to like print, you know, print currencies and I'm going to talk about stuff like inflation deflation slightly later. Right, but yeah it's you know, we're not deviating too much you know the central authority if you think about it over here. You know, fiat currencies has a central authority and the problem with that in a little printing machine that can print money. Right, oh, you know there is if you've seen it in the US right it's like how much how much money does the US own you know someone anyone take guesses. This freaking is so much right and every time they're in trouble right Oh, COVID has hit us what shall we do we are going to print more money. Right, a stimulus package print more money is more stimulus package print more money. Right and the more money you put into the system. Right the more money put in system what happens to the money you're holding. Right the money you're holding, you know, is worth less is the basic law of supply and demand. Imagine you're holding a you're holding an iPhone right iPhones are able to know able to hold is very very well. What if one day you know Apple just decides you know we're going to just because you want everyone to have an iPhone we're going to just give out free iPhones. Right, the price of iPhone would plummet right that's extreme kind of case but if you look at it look at look at fiat currencies that I know it happens so much right in fact it's the building blocks of what of what we use to even buy iPhones and stuff right when you need stimulus packages you just print money right and that causes you know the prices of the prices of cryptocurrency not the prices of fiat to decrease. Right so there's a downside of fiat currencies and is one of the reasons why Bitcoin is so popular because it's decentralized and you know it's limited there's actually only 21 million bitcoins that are allowed to be what's the word for it allowed to be so called printed. Okay, now importantly, some people are going to say wait what I cannot print I mean mine right so you mean there's a limited amount of bitcoins that can be mine. Yes, right. Bitcoins you know I started you know in 2009 you know the first block of Bitcoin right the first block of Bitcoin. Where is my word yeah the first block of Bitcoin right you know give you 50 bitcoins you know one block will give you 50 bitcoins right and then you know you can mine another to you know you can mine a total of 210,000 bitcoins blocks right and you give you 50 bitcoins each. And what happens next is that the next one right the 210,001 right will give you half the number of bitcoins so you notice is you know divided by two right is divided by two is divided by two roughly you know by 24,000 140 right by the year 21 40 you know we should be out of bitcoins to mine. Right so so that's the important thing to take note of because later I'll be showing you some of the meaning of Bitcoin mining difficulties and stuff like that. Right but yes you know there is a limited number of bitcoins that can be mine in the world. Okay, important distinction right and if you ever heard of this thing called the halving right if ever heard of this thing called the halving right this is exactly what it means right where your bitcoins get half. Right you know from the from one block before from 50 it goes to 25 from 25 it goes to 15 from 15 not from 12 12.5 goes to 6.25 so it gets half and half and half until that's zero. Right so that's what the halving means when you see this is why means that means one block actually gives you half the amount of bitcoins right half the reward. Right so you know people tend to ask you know what it you know what exactly is Bitcoin mining. Right it's massive massive huge servers out there right massive massive huge servers that are put in place to to get Bitcoin right what I like to say you know it's not who wants to be a millionaire but you know who wants to be a Bitcoin banker. Right because important thing that you need to take note about Bitcoin anyone can participate. Literally anyone can participate right so you know it's like today I decided to be a Bitcoin miner I can start trading I can start mining Bitcoin right away I can I can mine with my computer sometimes you can mine with your headphone right but yeah you know you can start you know there's no restrictions behind who can mine. However, how it works is that you know you need to guess a random number. You know that solves the equation generated by you know by the system and this guessing is done by your computer is not but it's not done by you this guessing is done by your computer. Okay so so because of that the stronger your computer right the stronger your computer the more guesses per second and hence the higher chances of winning. And I'm not sure if many of you guys right have have ever tried to buy a computer recently or try to buy a graphics card recently. It is so damn expensive. So damn expensive because so many people out there are you know they are buying computers they're buying GPUs they're buying CPUs they're buying all these different kind of graphics card to mine. Cryptocurrency right and and when that happens it causes it to be more expensive right so why is it happening because people want stronger computers. People want stronger computers because you know it helps them make more guesses per second and it gives you a higher chance of winning. And at the core of it at the core of it cryptocurrency mining you know basically basically you know it's actually meant to maintain the ledger in a decentralized manner. Right because what actually happens what actually happens in Bitcoin miner you know you're you're mine over here and you get it right right you know you you you mine you mine you mine is like oh I got it right right I got the answer I got the answer right you you now have the right to you know to look at next pending transaction you know you can move it from pending transaction and kind of move into confirm transactions right all you know it's like you get to go in and be a temporary banker temporary Bitcoin banker in the whole Bitcoin network and you're over there and you're going to you know you're going to. Now what you're going to you're going to fill up the ledger right so you actually get to fill up the ledger in the Bitcoin network. Right so that's essentially what it does you know so Bitcoin mining you know it's not just like mining and stuff like like gold mining right a lot of it is draws parallel to you know mining gold because of this reason but essentially what you're doing right essentially what you're doing is you're trying to maintain the ledger in a decentralized manner right so remember I talked to you about the decentralized where is it you know the the the the decentralized manner. I don't have a picture here now mine right I don't have picture here but yeah you know it's meant to maintain the legend a decentralized manner. Okay, so that's the very very important thing that you need to take take note of on when it comes to Bitcoin mining. So some people ask you know this Bitcoin mining should should I get into it right should I should I start mining Bitcoin right. Can I make money with mining Bitcoin should I stop trading should I start mining Bitcoin right so. The important thing about the creator of Bitcoin is that when he created Bitcoin he he had this equation that was put into place which is you know the the more difficult it is to mine Bitcoin right the more power it kind of requires so it is self adjusting. Yeah it is self adjusting right so the reason why Bitcoin mining so Bitcoin mining in the past was a lot easier than it is now. Right Bitcoin mining in the past is a lot easier than it is now it's you know whether the first guys were mining cryptocurrency right they can mine with maybe their their laptops they can mine with a very very simple system right just like oh you know. You're watching YouTube and on the site maybe can mine some cryptocurrencies is very is very easy. Right but the more difficult it becomes the more people who come in to compete right the more power it requires and we just take a look over here. This is the competition you're up against now right like like like this superpower Bitcoin mining farms right these are the people you're against now. Right so your your little you know Intel you know Pentium Pentium 5 i5 i7 i9 kind of CPU can you use it to mine yeah you can do you send a chance probably not right because these guys are getting so many more guesses in there's so much more. Yeah it's like the matrix man Aruna is like a freaking matrix right so and so many of these around so many Bitcoin mining farms right so you know it is then a low chance in the views are very like consumer grade kind of. Mining thing right to. To compete right so but I was asking is there any handout for this webinar. I don't think that's a handout but I think this will be recorded for the YouTube series right so hanging there you know we'll. There might be there might be I can't confirm it right but anyway moving on from there is self adjusting so the smart thing about this right the super duper smart thing right that the Takishi. I can't pronounce his name so sorry right if you guys anyone can can spell out. You know a supposed creator of Bitcoin. If you can spell his name for me to be great I can't fully remember his name but but yeah you know it's self adjusting right and it's meant to actually create. Yatchamoto is it Yatchamoto I don't think it's Yatchamoto right as Takishi something right. Right but essentially no kind of creates a steady flow of Bitcoin to the system. Meaning that we you know we can be like the central banks out there you know we can just go in and just print. Bitcoins like crazy because when you do too much of that what happens. That's inflation. Right do too much of that that's inflation so this guy is really smart right he was like. Okay you know I gotta make this the way bitcoins were mine bitcoins were created and you create some kind of. A logic or algorithm to it that you know it makes it tougher to mind the more people are in it the more people want this. currency I need to create like a self regulating kind of equation mechanism so that people are not just print the hell out of it. Right print too much of it you know a super inflation imagine if you are so easy to print bitcoins would it be worth a lot of money now know right the very reason why it's worth so much is because you know it's just so damn hard to just print. You know to mine Bitcoin right so that's a very very smart thing you did so you notice that's an inbuilt mechanism to Bitcoin that actually fights inflation. Now isn't that so damn smart right I think it's pretty smart right so yeah you know it fights inflation so on average on average you know over large large numbers you get a new block every 10 minutes no matter how many people. Decide to mine right last time you know as a single person mining to now when there it is like a crazy number of people who are mining right it's roughly still about 10 a new block every 10 minutes. Right that's an important thing to take note of right and because of this right there's a flight to strong mining equipment. Right there's a huge flight to strong mining equipment and that's why I showed the super computers out there you know we have the you know we have the CPUs right we have the GPUs right I think now we have the. Is I or something right but it's it that there was one more CPUs to GPUs and then there's there's one more and now it's like. It is rich a sweet spot where a lot of Bitcoin mining farm a lot of cryptocurrency mining farms use it. Okay crypto mining pools right I'll be sharing a little bit on that later right but but anyway right one of the big questions that you guys might have for me is so is crypto. You know it's Bitcoin mining going to be profitable right and that's one thing I want to share with you guys there are. Personally personally if you were to ask me I don't think it's profitable at this point of time right but if you want the long answer the more detailed answer to whether cryptocurrency Bitcoin mining is going to be profitable. These are the important things that you take note of right you need to know the hash rate right whether Brock reward last time your blog reward was 50 bitcoins per block. Now it is what it is 3.5 or no less than 3.5 right you know it gets half and you get half half half half right so the blog reward is less and actually I get half it gets even lesser right we need to see the mining difficulty because the more people. The more people who are in it the more mining power that is required the more mining power that is required what happens the electricity cost increases. Right electricity cost increases your power consumption increases and this is legit power consumption you know you can run Bitcoin by you know getting a couple of hamsters run on the wheel and generate kind of you know electricity and stuff you know you need legit amount of power to consume it right and that's why there is in many of the in many kind of crypto mining pools out there right people actually tap on to. Like illegal sources of power you know like maybe employer doesn't even know that one of his guys is like tapping on to his crypto using running his only a crypto farm until realize that his bills like freaking expensive. Right so that's the danger of it right because power consumption of electricity cost is a big thing so much that it's actually put into the equation of the cryptocurrency profitability calculator. Right when you want to see whether you can make money the pool fees you know we need to see whether Bitcoin price you know imagine Bitcoin jobs to $1 right or maybe $10 over the you know tomorrow with Bitcoin mining be profitable. Not so much because you know your Bitcoin will be worth so much less right and you know along the way in a difficulty kind of increases so these are important things to take note of when it comes to where the Bitcoin mining will be profitable right and of course this is one big thing right. If you ever want to go see whether Bitcoin mining is profitable go search for Bitcoin profitability Bitcoin calculator. I think it's a profitability calculator you can put in stuff like you know what's your hashing power what's your power consumption go to your landlord as you know what's my cost per kilowatt. Right and you ask whether there's any pool fees that you are you know maybe you're putting together multiple people right then you can see you know what is your cost per day you know power is a power cost per day like you obviously need to see what is the price of Bitcoin what is the price of Bitcoin. Right and then you can see whether you know is it profitable or not right and trust me it's not so simple for it to be you know so called this profitable. Okay so yeah I do notice that you know your cost per day can increase and decrease right depending on you know what's your cost per kilowatt what's your power consumption what's your hashing power right the many different things that comes into determining the cost of Bitcoin. Bitcoin now whether Bitcoin mining be profitable at this point there are a few things out there there are. There are Bitcoin mining farms which honestly unless you go to a really reputable ones there are actually a lot of Ponzi schemes out there so please be careful right it's like. What do you call it Bitcoin mining clouds mine clouds right. Run like the wind you know if you actually see any of these Bitcoin mining clouds because most of the time they are Ponzi schemes they are multi million dollars Ponzi schemes right so stay away from them they are reputable Bitcoin mining farms which can invest in right you can also pay over the top for you know graphics card to create your own little mining farm right those are the different things that you can do right but yeah you know important things to take note of when it comes to Bitcoin mining personally I think. At this point is not that profitable to mine Bitcoin because if you really really really kind of want to make money from Bitcoin there are different ways to do that you know you can actually invest in Bitcoin you can trade Bitcoin right. Aruna right Aruna is asking you know what about Nordic countries where they have natural resources to power Electric City now would it not be profitable around there I mean yes it would be profitable if you think about it Finland you know some of the big popular places where people are you know. mining Bitcoin is profitable but that does not mean that does not mean it is you know it is free money right I mean there's a lot of people fleeing there but there is still a cost to cost to their power generation right you know there is. There is firstly the opportunity cost of using a mega what is it is you imagine you got a super big you know. We not say windmill but I say a water mill like generating power right there's opportunity cost of what if we just use this little power to power the entire town you know entire town in state. Right you see I'm mining Bitcoin so there's an opportunity cost there of course Electric City will always have a cost that's attached to it right so yeah you know it might have. It is not necessary more profitable but you know it's not necessary definitely profitable but it is more profitable if you go to places where Electric City essentially is cheap wow. If I need you need to slow down just let me know okay guys but anyway let's let's take a look at what affects the price of Bitcoin right. You know when it comes to Bitcoin that's one thing that always affects the price of Bitcoin is bad news. Bad news affects Bitcoin because bad news affects adoption. You know adoption of Bitcoin mean that people are less optimistic about Bitcoin which is true. Most things in life most stocks most currencies as long as it's bad news you know it gets affected but because Bitcoin you know people on Bitcoin always on age right. There are a lot of people who are always worried that you know if there's bad news Bitcoin might not achieve its what's the word for achieve its potential right and then you know people don't want to adopt it and then the price drops. So you notice I'm not sure if you guys follow it but you know how Elon Musk one day he was like yeah yeah yeah you know Tesla is going to accept Bitcoin and boom right because it's good news right. And especially good news that is tied to adoption right good news that is tied to adoption people are like awesome Tesla is adopting Bitcoin that is great for us the biggest manufacturer of EVs right. Going to you know accept Bitcoin and hence you know the price increases a lot right but in a moment. Elon Musk says like oh shit man the man the electricity is so expensive I'm not even sure if it's sustainable suddenly right you know prices drop because you know affects the adoption PayPal suddenly comes in good news right oh yeah yeah we're going to allow Bitcoin. On the PayPal platform boom prices go up a bank says that's great you know boom prices go up because you know a lot of this link especially particularly to adoption right so the next thing of course is you know. There's always a passive value the passive value of Bitcoin always swings because of this because of uncertainty because of bad news because it's kind of trying to jostle its way you know into the into the world of like being treated as seriously as fiat currencies right many of them says oh you know we have a central bank you know we. If you know we have a central bank you know you can trust the government who is backing your currency right so you know. Bitcoin is kind of like the the a little bit of the outsider right you know because Josh is way and say hey can you guys please take me seriously right. So yeah you know it's true that I would say is that Elon Musk knew exactly what he was doing in Bitcoin right so so it's funny thing no one can do anything to him. That is the amazing thing right no one can do anything to him he's he's taking Bitcoin for right right and it can make so much money from it right but of course over time. Right as more and more people adopt it just not just maybe Elon Musk right but you know if many many you know it becomes as. So many major figures major countries start adopting Bitcoin right then Elon Musk news won't affect it that much they'll be like yeah you know sure you don't want to adopt it but you know Neo and all the hundred are the. A thousand other big players all adopted so it's fine right but for now because Elon Musk you know for better for worse he. You know he's you know he's who he is right so he can move the prices very well and you know he can't say that for Tesla. Right his compliance department will slap him and say hey you know you're inside a trading and stuff but for cryptocurrency he's free to do that so that's the danger of it. Okay and it is true yeah Elon Musk knew exactly what he was doing so so it's what the other things that affects the price of Bitcoin. If you think about it is technical analysis more than anything else right cryptocurrency Bitcoin as a very very you know a lot of people. A lot of people treat treat using technical analysis even more than personally I feel is even more than you know the many fiat currencies out there the USD the euro the pound Aussie right so many people use Bitcoin use technical analysis to trade Bitcoin. You go to any you know Binance you go to any of these crypto changes you load the first thing that they show you is not OK here is the news on Bitcoin in the latest monetary policy meeting you know nothing about that. Right the first thing they show you is a chart the first thing they show you are indicators the first thing I show you is you know all of that stuff. Right so so importantly right you'll notice that you know cryptocurrency know and Bitcoin particulars hugely affected by technical analysis and and one thing I do want to show you let me see if I have it over here right is Bitcoin. Right so if you're falling following our block right we did actually call the bounce very nicely right we call the bounce very nicely from here for Bitcoin to bounce up right. Most people if you zoom in too much if you zoom in the one hour chart right if you zoom in the one hour chart you might be thinking what what you know you know Bitcoin is dropping like a rock right Bitcoin is dropping like a rock you know do we think it's going to rise. We're not so sure but if you look on the one day chart or even where am I you look on the one day chart. Right you notice right that price and this is very very basic technical analysis right you notice that price actually bounce up once bounce up twice bounce up three times bounce up four times and it's over here and that is why a lot of people will bullish over here. There are a lot of people buying because price you know it's not just any other level this level you know has been around since since the start of the year actually and people have it has not been able to break past this level right and that's why it should bounce very nicely and why is it slowing down over here right it's because if you just draw a resistance area over here. You notice right this is what we call an overlap resistance I'm just going to remove my drawings a bit but this is what I call overlap resistance right meaning that price reacted off this level it bounce off this level in a reacted it reacted right so this is a big. A big area to kind of look at there's a lot of resistance over here and that is why you're not seeing crypto just take off as it is right so there are a lot of you know there's a lot of. Selling that is going on over there right so there's definitely one important thing to take note of right i'm not sure if you know it but. But bitcoin yeah just give me a second yeah bitcoin. Just let me so it's had a key level over here I know one of you guys or some of you guys actually asked me to do a little bit of analysis on it. Shucks where's my if you follow the way I do analysis quite nicely. Let me just do a quick analysis on it I do notice 38% Fibonacci retracement very important level take note off right you can see that a lot because so many people use technical analysis when it comes to trading bitcoin. You notice how price you know when price drop down to here it reacted very nicely off the 23% right and I expected to react equally nicely over the 38% because this 38% happens to line up very nicely. With this overlap resistance right where price bounce off many times in the past. Okay important thing to take note of okay we can add in a little bit more Fibonacci but you will go crazy if I do too much on that right in future webinars maybe will touch a little bit more on advanced ways of doing Fibonacci support and resistance correlation each Moku trend lines we can do all that later. Okay, but yeah first and foremost what affects the price of Bitcoin right and you notice if we draw a trend line over here right there's already approaching approaching price over here. I expect there to see a lot of selling over here because people are going to be freaking out people are going to be freaking out when price come here you know people who bought here they're very happy there they're probably going to cash out over here. Okay we will need to see whether this big level gets broken right in trading institutional trading. This is what we call upside confirmation. We need prices to close strongly above this level and strongly above this descending trend line to trigger a move upwards right move to where maybe first to the 50% retracement right and maybe to the 61% retracement right but we kind of need to wait price before any of that happens we need to see the battle that is going on over here. Right so even though you might be bullish on Bitcoin doesn't mean that you hold it forever right you can hold it you know if you got in at a low. If you follow our block and you got in at the low and then you made money over here right now it's a good time to maybe cash out a bit and see what happens at this key key area. If it really breaks the you know if it really breaks the descending resistance if it really breaks the overlap resistance right if it breaks this level over here then we have a high chance of price rising up. Okay more than anything I would say you know cryptocurrency follows you know the technical analysis a lot so so do your own technical analysis when it comes to trading cryptocurrency right and many of you guys might be asking so what exchange do I recommend. Actually right interestingly. Tick Meal right Tick Meal allows cryptocurrency cryptocurrency trading through CFD so if even if you load the Tick Meal mp4 which I'm going to show you over here right look the Tick Meal mp4. You need to yeah you need to do this thing right click and click show all right and you can see and you can see you scroll down all the way to the bottom. You will see Litecoin you see Ethereum you know you can see Bitcoin right so you can actually trade Bitcoin on your Tick Meal mp4 which is super useful because you don't need to worry about you know finding exchange opening a crypto wallet which might be hacked and stuff right you know and you can actually trade it on a higher leverage right so. Do consider you know trading Bitcoin especially on Tick Meal. Okay now in future sessions what we'll do is we can we can look and monitor the prices of not only Bitcoin but we can look at Ethereum we can look at Litecoin we can look at all the different kind of crypto currencies out there how to navigate them how to trade them. You know personally for me you know how I'm havy havy havy into technical analysis so I can share with you how we can you know apply technical analysis very very advanced technical analysis that allowed us to to make. You know to to make to call the bounce from here all the way up to here right and we also called the drop from here down to here right so if you've been following the Tick Meal block and okay I can see you know where is the Tick Meal block. Go to TickMeal.com head over to mark you know under client tools head over to market insights or you can click on technical analysis right so when you click on technical analysis you get to see all the range of. You know technical analysis I do you can see those that were created by me right um yeah so you know we post a hell lot of technical analysis here on crypto and stuff like that so go check it out okay. But anyway anyway without deviating too much right i'm i'm glad that you guys have we actually have really good. Numbers right for people who are staying all the way throughout the webinar right I do want to ask for one favor right now before before I move any further and and that is right if you don't mind right. If you don't mind just launch a poll for you guys right could you just give me a quick poll and let me know how do you find today's webinar one is to five you know don't worry you can it's anonymous so you can vote one. You can vote five right don't worry if you vote one I won't come and hunt you down and stuff right but at least let me know let me know how you found the webinar. Right where they found this format useful give me feedback right if you're because you know if you guys like it you know we can continue doing more of these webinars over time. You know where there's a cryptocurrency trading series technical analysis series you know fundamentals technicals you know kind of look at the look at the whole world of trading together but first and foremost you know of course take me kind of wants to know whether. All you guys find the webinar right so yeah do me a favor give me an honest opinion and if you want to please. Leave your feedback you know in the in the chat section right you can say that yeah you know it sucks I was hoping to see more crypto or Desmond want to see your cat you know where is your cat right so just let me know and I find ways. What's where for you to improve the webinar over time. Okay but thank you very much because I do see that almost 90% of you guys are saying that the webinar. You know you give it a good four to five. Thank you very much thank you very much. Yeah it's a more or less live and die by these numbers so you've been very merciful thank you thank you. Right so yeah I'm going to end the poll right now right I'm going to end the poll right now right because we've got a majority of people who have voted thank you very much for for voting right I can see 90% of you guys who voted four and five. Once again thank you very much right and and yeah you know if anything please please let me know right when it comes to. Where is the thing I'm going to show yeah if anything thank thank you very much for tuning into this webinar all the way right. Yeah tuning into this webinar all the way I can see that you know a good bunch of you stayed through all the way right I'm accepting questions along the way right now so if you have questions that you want to kind of shoot out at me. Now is a great time right water sharing that you know it's hoping to learn more how to enter good trades right that will that can cover that can come in on a technical analysis series right where you really drill down into the whole world of support resistance Fibonacci retracement extensions projections expansions correlations correlations escalators divergence chart patterns right hopefully in you know now that we covered the basics the cryptocurrency you know we can know those are some things that we can look at right in the future. But thank you. What are asking you know do robots help a. When it comes to trading robots right I recommend you to exercise caution some robots are not not designed to trade crypto currencies right. They might not be used to the same volatility the crazy amount of volatility that crypto has versus forex. Robots do help but you gotta do your own back testing first right if you know how to personally there's a whole nother topic on back testing but right off the top my head if you want to do robots right try to go for empty five empty five allows you to to use. Take my take back testing right allows you to have a multi core a multi-traded back testing kind of system so you can utilize more of your computer CPU power to do back testing. Right so it first if you want to use robots first and foremost back test forward test with what with empty five you can do it empty far by it's going to be a lot slower because empty four can only utilize a single thread. Okay I hope that answers your questions water right but yeah you know with the. I cannot say which robots will help some robots can definitely treat well but you do need to make sure you back test highly we've real take data not with fake data right your testing quality needs to be very high. Yeah I can see jealous saying that there should be more webinars like this presenting difference between various crypto currencies and their correlations. You know how value of Bitcoin affects value of other cryptocurrencies and all right looking for more. Webinars right so awesome right today is happens to be the very first webinar that we're doing for cryptocurrencies for take meal. It's nice to see that you know there's a very very good response. People like it right and I really appreciate it right so hopefully what how I like to always design this webinar since I like to take the feedback from from from you guys right and design the webinar. Accordingly right so if you want if I find that there's a lot of people who want to know the correlation between Bitcoin prices and for example you know I just can just pull it up really quickly here you know for example Bitcoin you want to compare the price of Bitcoin to ETH USD right on the same percentage skill right set so there you go you know you can see the prices of the correlation of of Bitcoin you know we've maybe in this example with Ethereum right so this was a very interesting time over here where. Bitcoin rose a bit but Ethereum kind of shot up right but you do notice that they kind of go up and down together right there are many tools that can use to really correlate the price of Bitcoin Bitcoin is the market leader so it does dictate a lot of prices along the way right but yes. Yeah hopefully over time we can look at the more exotic stuff you know dodge coin even right and how to trade it right but but yeah thanks for your feedback Janus tank for thanks for feedback Walter and Aruna right. But yeah. Any other questions that if you know if there are no other questions rather that you have for me I'd like to thank everyone I'd like to thank everyone for the for tuning in today for sitting through an entire webinar the attendance the attendance and the attention has been great so thank you very much right. I hope that you know this webinar help you better understand the whole of crypto right and you know if any questions you know feel free to send it through. Take me right on the support you know I do a lot of the analysis there so the you will one way or another the messages will come back to me. Okay anyway guys that that's it for me right thank you so much for tuning into this webinar I you know please trade safe stay safe and yeah I'm looking very young thank you. I have no idea why maybe I've got enough sleep this morning my cat allowed me to get a little bit more sleep. All right guys yeah thank you thanks for tuning into but on a meal right. And thank you very much Andrew right. That's it for me yeah even when great today man all right. Okay see you guys. Cheers and peace out guys peace out.