#cryptointerview with white-hat $CRYPTO hacker @notsofast
- What/who/how brought you to the $CRYPTO sphere aside the profitability?
“First credit goes to the BoingBoing blog who introduced me to Bitcoin in 2011. I downloaded a wallet but stopped there, unfortunately. When I discovered Dogecoin via the late 2013 memeverse, I started with faucets, then bought my first GPU for mining. I got seriously into the crypto space right as BTC crashed to death and Mt Gox disappeared. I liked crypto too much to want to quit, and I was sure it would come back eventually, so I began buying distressed mining rigs locally and leveraging some business logistics to acquire a crypto portfolio as cheaply as possible.”
- What is your gem hunting protocol?
“I have a set of risk and reward criteria, partly written down and partly in my head. With so many altcoin launches in 2014 — as high frequency as ICOs in 2017 — I developed a skill to quickly analyze which shitcoins to launch-mine at rock bottom prices (and dump before the scamdevs could), and which projects might not be garbage and therefore worth hodling on to. As the crypto space grew in size and complexity, so did my gem hunting criteria, but at the core of it all is that rock-bottom low-risk entry scenario, whereby I look for the lowest possible break-even on an opportunity, or happily pass. There are always exceptions, and the recent Age of ICOs has made it difficult for any non-insider or whale to get in earlier or at lower prices than most others, but the more a new asset class grows, the more new opportunities it creates to capture that bleeding-edge value for cheap.”
- What is more profitable for you, trading or mining, why?
“I like to put it like this: there’s a profitability scale from low to high. Until the crypto asset class chills out from its exponential growth curve and matures, that scale goes: day trading, then traditional mining, then long-term hodling, then speculative mining, and at the top is, hodl what you spec-mined until moon. That last case represents the apex of entry timing, minimized risk, and maximized profit.”
- What are your entrepreneurial fields of interest aside $CRYPTO?
“Good question. I guess I hustle pretty hard. I have ownership interest in a couple meatspace businesses, but I’m divesting and delegating away from these to devote more time to crypto. I advise a lot of crypto projects, most casually and for free, some officially, the main one being @AceOfWallStreet’s APX Ventures where I will be advising physical operations what to mine at any given moment. I’m always entertaining new opportunities in crypto, and though I’m very picky who/what I link up with for the sake of keeping a good reputation, I’m open to help with any good project. Lastly, I’m involved with the startup @Relnuz. It’s a crowd-based, guerilla video-news platform. It’s in open beta right now and you can check it out in the Apple app store or Google Play. It’ll eventually have its own in-app crypto, which you can earn for posting good vrticles (video articles).”
- #1 recommendation to $CRYPTO noobs?
“2 words: MY RESPONSIBILITY. Crypto is the real fucking world. Nobody to bail you out, nobody to find your lost wallet passwords, nobody to give you back your coins from a hack. There’s a lot of risk tied to these exponential profits, and minimizing risk doesn’t stop at stop loss orders. So take responsibility: understand the risks, check your brags, secure your bags, and own the blame for anything that goes wrong. It makes the wins that much sweeter because those are 100% yours too!”
This is the seventh interview I've done, and let me tell you, there are plenty of crypto experts that are willing to lend anyone a hand, give advice, tips, and guide you through the correct path like @notsofast, just don’t expect to be spoon fed.