 Hey guys, it's MJ, the Student's Actory and I see that one of you guys have asked me to chat about Ethereum and I thought while I'm watching the Bitcoin market, which let's admit it is crumbling a little bit, I was fortunate enough to sell a little bit at 35,000 and we're going to try to buy that back if it hits 30,000. The depth chart is showing that there's more pressure on the sale side than the buy side, but I mean, technical analysis, it's not the best, I don't like these candlestick things, but the depth is the one that I'm pretty much using. We're not playing for big money, so yeah. But that's Bitcoin, so while we're doing Bitcoin, let's look at Ethereum and I mean, I do have a little bit of Ethereum and you can see it's down 13%, which is terrible. This Bunker thing is also pathetic. I've got five of those coins. Don't ask me why I buy these things. Yeah, there's some interesting strategies you can do with these weird altcoins, but let's talk about Ethereum. I think the best way to actually talk about Ethereum is to actually, let's go open it up. So let's go check. Let's go see what's happening on Ethereum. So I just learned the other day how to make my own custom token on Ethereum and this worried me. The fact that I could go and spend half an hour learning how to create a token with basically very, very little programming skills. I mean, I can't program like a little bit, but let's admit I'm not, I studied actuarial science, not computer science, but let me show you guys. So yeah, so this is the main account you can see. I don't have that much ether, but if we go to the testnet, that's where I was having some fun, but it also worried me. Why is it taking so long? When I was playing with this testnet, what I did is I went and I created my very own token. You can see I've got a lot of ether. If that was America, but remember this is Play Play Ether. This is the testnet. Okay, first thing off, it was a little bit confusing how this thing works. I mean, I created this currency called Hype, which I want to use for my little app that I'm developing, but there were some problems with it in the sense that not only does it take forever to send this stuff, I mean, when you come to send to say somebody else's address, it takes quite a long time. Even when you pump up the ether, it does, you know, there is a little bit of a scaling problem, especially in my app where I want the coins to be flowing very quickly between people. Ethereum is actually, it's too slow. And I think there was a lot of people who were very interested in this coin because it allowed you to raise funds very easily. I mean, you could go, I mean, if we go to the Ethereum website, the Ethereum website looks really cool. Let's go to the Ethereum website. You can see that they kind of teach you, they'll show you how easy it is to make your own token, and you can do your own crowdfunding, and it's really, really easy to do that. And I think a lot of people have now jumped on the bag wagon and have started creating their own tokens on this network. And I think it's been too successful. It's been too successful, and they aren't coping with the load. Now, look, like I said, I say, the actual signs, not computer signs. And there is a bunch of talks saying that the developers are fixing it and stuff like that. What I just found was interesting was that in South Africa, we did this thing called Civic. One of the guys here in South Africa did this Civic token, was able to raise $33 million US dollars on the blockchain, which he did through Ethereum. But what was very interesting was when you read the white paper, they don't plan to stay with Ethereum. They plan to move something to RSK, I don't know if you pronounce it risk or root stock or something like that. But that was in their white paper was that even though they're raising their money for Ethereum, they're ditching it. So that was an interesting one. And then I read, I think if I just type in Litecoin, if it will pop up here on the news, where they were talking about using the Litecoin network, where did I see that? Where did I see that Litecoin article? Where basically someone who could have done a project on, oh, sorry, did I type in Litecoin? Litecoin. Yeah, here we go. So this is something that should have been issued on the Ethereum network, but instead they're using the Litecoin network. Now, if you guys subscribe to my channel, you know that I am, Litecoin is my biggest holding. But those have put in a cold wallet. We've, you know, locked the key away and we're holding it for the long term. But Litecoin, I love this one. And we're seeing that people are now starting to use the Litecoin, or starting to use Litecoin blockchain, which I think is very interesting. This thing is called, what's it called? Tether. And I think Tether is the top coin at the, well, yeah, it's one of the top, it's like the only one that is gaining. You can, I don't know what Cloudcoin is. But as far as market cap goes, where is Tether on this list? Does Tether not even make the top 50? No, where is Tether? Oh, there it is. It's in 35th place. So, I mean, it's interesting that they're using the Litecoin network. I think out of all the blockchain technologies, I think Litecoin is the best one. But then again, I'm super biased because I have bought that one. I think what I do like about Ethereum is that it's user-friendly and someone as simple as me was able to create a token on it. But I think that's also its downside is the fact that it's too easy to make your own cryptocurrency on it. So, what you're actually doing is the market is getting flooded with these amateurs like me coming and using the network. And while that's good for the price, because there's more demand, it does slow everything down. And I mean, one of the big reasons why I didn't invest in Ethereum, I think I had a chance to invest at it when it was $10. Yeah, it was at $10. This is when I was buying, when was I buying my Litecoin? I was buying it in October. So, October is somewhere like around there. So, Ethereum was at $10. And from a financial point of view, that would have been the better decision would have been to buy Ethereum. But the reason why I didn't buy it was just because I didn't understand Ethereum. I understood the concept of Bitcoin. It's either a currency or it's a commodity. It's this little blockchain. It's a payment system. It's a store of value. You can use it for remittance and all these type of things. Whereas Ethereum, I didn't fully comprehend. It's a fuel for a blockchain and there's gas. And that's why when I use this thing here, and I mean, let's just send to this address over here. Let's copy anyway, wallet. Let's click on this one here and let's say send. Let's send to it. Let's send 10 million IPES to this one here. What I want you guys to check is watch my ether balance. Okay. So, yeah, we are going the fastest, but let's put this in here. You have to put in your little password. Send transaction. And let's see what happens. Okay. So, watch that. 1,974.92. Now, I don't think the confirmations go through unless I start mining it myself. But the thing is, when I start mining it, I will start getting ether. But the thing that I wanted to highlight was when I made, or when I was sending a lot, like I was doing over here, you can see I was going crazy a few days ago, when I was doing that, my ether was dropping very quickly. Now, like I said, I don't know why it was doing that. Maybe it's just because of the test net, but it seemed that just sending these few transactions turned out to be a very, very expensive thing to do. And that's what I think is the problem with Ethereum is that at $10, at $10 it makes a lot of sense to come and make your own cryptocurrency and build an application on top of it. At the current price, which let's admit isn't even that, let's admit, even at $244, hold on, I've got on my phone the other exchange, what is it doing on the other exchange? On the other exchange, it is at $227. So, even at $227, it's still very, very expensive to build your applications on top of Ethereum if you want it to be sustainable. I think a lot of people are doing this thing called the initial coin offering. They're getting in on the hype. They're coming up with silly ideas. I mean, there's that one silly idea. What is it called? It's called Numerium. Where is it? Numeria. Yeah, this one, numeri.ai. I mean, I love their logo. Their logo is really cool. I made, I think 70% trading them because what I did is as soon as I got listed on Bitrex, I bought it. And in the next day, the price skyrocketed, I sold it, and then it crashed. And they're saying that they are a hedge fund on the blockchain that uses artificial intelligence where it's not. What they are is a kind of like, what's it called when you bet and the price keeps going up? Oh my gosh, I just had a blank thing with an A. An auction. Sorry, that's what it is. What it is is you create your own data model and then you auction up your model and that is resembles the confidence. So, there's not actually any artificial intelligence. Well, artificial intelligence, how most people define it happening here. And it's not really even a hedge fund. It's more like a betting thing. So, it's still super cool. I mean, especially for my my actuarial subscribers, I would highly recommend you guys come here, download the data set, have fun with it, be careful you are betting. So, I think you have to be over 18. Well, that's the thing. There's no regulation yet. It's kind of crazy. But anyway, this thing and a whole bunch of other stuff that shouldn't really be like an initial coin offering. I mean, you could do this without the blockchain. A lot of companies are using this because it's such a nice way to raise a lot of money. Like I said, Civic raised 33 million US dollars. I think Bunkhall raised 150 million dollars. So, everyone's trying to get in on the action. I mean, I think if we go, what is that website called token? Not token board or it says what tokens are coming out. Forgotten what the website is is called. My spelling is shocking. But someone's literally selling digital land for, I don't even think it's a game. Like just digital land is one of his tokens. There's also this other thing called extra ICO. Let's see if this thing comes up called insurance, where they talk about insurance and it's like really, really weird and complicated. But again, they're going to be listing on Ethereum to try to raise funds. What is that insurance? Let's go, insurance ICO. Nope, I am not finding it at all. So, I didn't even prep for this video. I was kind of like we were busy watching the price. I said 334. What I like to do is the South African price tends to lag the American price. So, we can see if this one's changing, how that's going to affect this one over here. There is actually a bit of an arbitrage for those of you who are interested in it. To take advantage of the arbitrage, what you want to do is come to this website called BitStamp. You can come here and you can buy, see at 236. You can buy, even as a South African, you could buy the coins here, then move them over to this exchange that I'm using called LUNO and sell them. The reason why I'm not doing it, because I don't know if you're allowed to do it from a tax point of view. I mean, you are sending money outside of the country to Luxembourg. Also, where's the regulation? I mean, these guys could just be harvesting your banking details and your ID documents. It's a bit dodged, so I'm not doing it. But if you really, if you've got that risk-seeking attitude and you want to risk it, there is that possibility of getting the arbitrage. Look, these prices, it is interesting. I don't really know what this line draft does. I need to read up on that. But from this one, it does seem like there's pressure on the price to go down, although while we've been chatting, it has raised a little bit. So there is a lot of fluctuation. But anyway, I'm supposed to be making proper actual videos for you guys, but I am getting terribly distracted by all these cryptocurrencies. I've even had a crazy idea and I'm going totally off topic. But I've been looking at bees and I've been thinking, maybe there's a way we can make a different type of blockchain. So not using blocks and chains, but look at bees and the way they communicate and see if we can create some sort of decentralized database mimicking them. So I'm reading about bees and flowers and oh, that robot bee looks pretty cool. But yeah, it is quite fascinating how they do their whole little thing. So I think bees are quite a cool inspiration. And then of course, reading other textbooks just on the mathematics behind the whole blockchain and what it's all about. And I must say, if you guys are going to be investing in these cryptocurrencies, it's a good idea to read up about them so that when a new coin gets released, you can read through it and be like, is this snake oil or is this actually legit? So yeah, so that's just what I've been doing, reading on some weird cryptocurrency stuff, reading up on bees. Maybe, yeah, maybe what we can do is have a go at making our own little, I want to create a decentralized database using mobile phones, using like the whole hashing idea and the way bees communicate. I think it should be a lot of fun. So that's the app that I am programming just for those who are interested a little bit more in that. But I don't think I was going to use the Ethereum coin and link it into my app and make you send it between. But I think the gas price is too high. Even though it's crashed now, I still think it's too high. I still think it's a little bit too slow. So I want to see if I can maybe make my own decentralized database, although I do think that is quite ambitious. Anyway, I think I've been talking for way too long. So if you have any questions, please feel free to leave them in the comment section below. And yeah, stay subscribed because we will be releasing a whole bunch of those actuarial videos. And if you guys enjoyed me talking about cryptocurrencies, let me know and we can make some more videos. Like I said, I did want to do a video about Zia coin and Storgy and just discuss which one's better. But Joe, I think let's leave that for another day. Thanks so much for watching and I'll see you next time. Cheers.