Crypto Investing #78 – Crypto Lessons From Levi Illis At Cryptocurrency Edutainment

Tai Zen: What’s up guys this is Tai Zen. And today Bitcoin is hitting all-time highs, it’s finally broke above $5,200 today. This is a momentous occasion for all of us in the Crypto community.

So I wanted to celebrate this special occasion by bringing on a very special guest here. We have Mr.Levi here, say hello Levi and introduce yourself the way that you do it on your channel.

Levi Illis: What’s up everybody, it’s Levi Illis here. Thanks again for watching and welcome to my new subscribers. If you’re new to my channel, I’m trying to be your Cryptocurrency news in a dictate kinda way. Tai Zen, how are you?

Tai Zen: I’m doing great. What do you think about all-time Bitcoin highs? It’s finally above $5,200, it’s at $5,273 right now as we’re speaking.

Levi Illis: It’s amazing. I was actually ready to pop up some champagne. I was like patience, but now it’s finally here so it’s exciting, it’s far more than expected in my opinion.

Let’s see where it’s headed from here. You can still hit $6,350 before the end of the year around that range.

Tai Zen: So I guess the market heard that you were coming on to our channel so it started to rally up and break the new highs, what do you think? I think you’re the one that’s moving the markets, word got out that you’re gonna be on our channel. Can you talk a little bit about how you got into Crypto? And when you first heard about Bitcoins? Can you talk about that first?

Levi Illis: Sure. So I think it was around 2013, I was working for Johnson & Johnson back then and I was driving in my car and back then I was mainly into stocks, I’ve been into stocks since 2010 or so.

And I’m running my own company and at a certain point of time you have enough and equated your company capital, you need to do something with it. So I was driving my car, listening to some financial news radio. And then at a certain point of time, they were talking about this Bitcoin and that it hit $1,000 or so.

And I was like what is this, and then I started to not give it a lot of attention because they were also saying the usual suspect kind of things like it’s only being used on Silk Road. So at a certain point of time, just only last year some of my friends asked are you already into Cryptocurrency? There is this Dutch Cryptocurrency called Gulden and it reached to 1500%, and I was like what the hell is going on here.

And that’s why I started getting into what it is all about and then I came across Bitcoin, Ethereum, Monero in the beginning and Dash. Those were the first 4 coins that caught my interest. And then at a certain point of time, I started to invest more heavily in it but only at the beginning of the year.

If you invest in something, you really need to invest with good due diligence and especially with something so intangible. So I took the time to dive into it for almost a year, to really start.

I played around a little bit, very difficult at the beginning with all those private keys and all that. I also lost some it goes here and there, some Monero along the way. But then that’s the way you need to learn.

Tai Zen: It’s just pretty much everyone learns by trial and error in Crypto. I forgot to let everyone know that I’m broadcasting from the city of Dallas, which is locating the state of Texas. Where are you broadcasting from now?

Levi Illis: I’m broadcasting from the Netherlands. I’m temporarily here in Eindhoven at the moment, I’m originally from another part of the Netherlands Southwest, called Middelburg, it has been big in the Golden ages, now it’s just a village.

Tai Zen: Cities and nations grow and die, they have their peak moments and they have their low moments. That’s no different in Crypto land, some coins make it big and some fall off and the key is to grab a piece of the action while it’s going up.

Levi Illis: Once upon a time also, the Dutch guilder or the floronic they called it back in the days was the world currency for 250 years, and now it’s crap.

Tai Zen: So was the Iraqi dinar when Saddam Hussein was in power, and now toilet paper is more valuable. So you got into Crypto while working for Johnson & Johnson and what’s your background? Do you have an IT background or what?

Levi Illis: So I’m an online marketing specialist, my generalist and my expertise is marketing automation. I help customers to build out their strategy for lead management, retention and all this type of stuff, so that’s what I’m doing for my company as well.

So I am delivering consultancy services, mainly focusing on Fortune 500 companies. So now I’m currently working for Philips, already long term I think, 6 years now that I’m doing different assignments there for Philips, on the global scale, Philips lighting, in this case, I’ve also worked for oil Philips.

And then also some national larger companies like the Dutch Telegraph, but also in the sporting sector. But I’m actually planning to quit end of the year.

Tai Zen: Basically you are one of those real Asian that’s actually smart in all that stuff, unlike me.

Levi Illis: And that’s where passion came from for blockchain technologies, it’s all about innovation and transformation, that’s what my passion is in, that’s why I also like blockchain.

Tai Zen: So what inspired you to start the Crypto Edutainment channel? You got into Crypto, started doing well, and then what inspired you to start your own YouTube channel? Because originally when we started was because to help our friends and family and colleagues and co-workers, because we got tired of explaining what Bitcoin was over and over, so I decided to make some videos I start a channel.

And even though the videos were made public, it was more private so that and I can share it with people around us and then they started to grow from there. What inspired you to start your channel?

Levi Illis: So initially I was doingCloud mining. I fall for that scam, but that’s also what I did. So I started with Cloud mining, I was looking for Genesis mining and all that stuff.

And I wanted to know whether it was legit or not, so at a certain point of time if you go on YouTube, there was only 1 guidance back then it was talking about Trevon James. So at a certain point of time, I saw that the only way to keep up with the hash rate was to get affiliates and all that.

So I thought maybe that’s also a good thing to do for me just on the side, but then I was like I don’t even like to do this to be honest because my passion is talking about blockchain in general.

So at a certain point of time, I also made a decision like I wanted to do something that educates people but in an entertaining way because if I look on YouTube, everything is so serious and as a person I’m not that serious, although I’m investing with some serious money, I’m a hobby invest but it’s all relative.

In the end, I’m investing with 6-figure numbers and if I go in speculate on some new stuff, I go in with 5-figure numbers and all that. There is not such a channel at this point of time that it is bringing in that genre. So that was the reason that I did it in this way.

And I had some personal circumstances why I had some extra time in the evenings, and now it’s a hobby that exploded a little bit. But now, in the end, I’m going to stop work and I’m going to do this full-time by the end of the year.

Tai Zen: That’s awesome, we had so many people in our journey Crypto that have done well for themselves and made some intelligent moves and now they would have quit their work, so I’m really happy to hear that. You mentioned that you learn from Cloud mining that doesn’t work and you mentioned Genesis mining.

Was that the Cloud mining service that you used? When you said that it did not work, the whole idea of me bringing you and other broadcasters onto our channel is to learn from the mistakes that you’ve made, so that our audience can learn from your mistakes as well. What was the lesson that you learn from Cloud mining and from Genesis mining?

Levi Illis: I also made a series of videos, where I really did an investigation over time. And the use case is as follow, would you receive more coins whenever you bought Bit-Invest US dollars for a certain amount versus buying Bitcoins directly at the exchange? So that was the use case that I’ve done. And then based on calculations I’m showing that’s not profitable at all to just mine instead of just buy it and exchange.

Tai Zen: So that is the exact firm belief that we have on our team. Because most people don’t realize that I started learning about Bitcoins back in 2012 when I worked at an energy brokerage firm in the city of Dallas, and they had a mining farm there. They’re building a Bitcoin mining farm and that’s how I learned about Bitcoins.

And I sent a white paper to and he confirms that it’s legit and that’s how we got into Bitcoins at that time. So eventually a few years later they had to shut DAO their operations because it was just not profitable. So since then, we have never seen a scenario where it was more profitable to put your money into mining than to actually just buy the coins, the tokens itself.

So if you start at the beginning of the year in 2017 and you put $100 into Bitcoin, you would have gotten way more for your money, you would have grown it 4 or 5 times versus putting $100 into mining. You do the mining or you put it into Cloud mining, it didn’t matter. We’ve never seen in a use case where mining made more money than just actually buying and holding the coin.

I’m gonna interrupt for one moment and repeat and quote the Bitcoinmeister, Adam Meister, and tell everyone to pound that like button. I can’t stay with as much enthusiasm as he does though. So now I want to clear up some things with Genesis because there’s a lot of questions about Genesis mining, and you actually put money into cloud mining with Genesis so you actually a former customer, a former user.

Levi Illis: I’m still a customer because it still goes on but I do not invest anything in it anymore.

Tai Zen: So do you recommend that to the audience or do you recommend somebody to do that? We cannot recommend it because we don’t see it being profitable.

Levi Illis: I would not recommend it, not at all. I will also send the series, maybe later, to you so that you can put in the description. Because the series really shows you at that certain point of time, in January when the price of Bitcoin was $1,000, then I could have accumulated more Bitcoins over time.

Because what people do not take into account there’s also a difficulty increase, and all the calculations that you see on the internet on Coinwarz or whatever another type of website, that is the price that you will get over time but not including the difficulty increases.

So I really did my due diligence, I looked at the history and took the average of difficulty increase that’s coming from Bitcoin over time and calculated that in Excel sheets and then based on that, it is better to just buy Bitcoin versus mining. Except if now the price would rise like super crazy of course, then it’s a different story.

Tai Zen: A lot of people are asking is Cloud mining a scam or not? What you’re saying is that it’s not that it’s a scam, it is just not more profitable, it’s not as profitable as just investing in the coin, the token itself.

Levi Illis: Exactly, it’s not a scam. It’s exactly what you are saying.

Tai Zen: I also want to add to that. So recently it was brought to my attention from another of a broadcasting colleague about Genesis. We wanted to do some research on Cloud mining and we wanted to be able to say definitively whether it’s a scam or not because we hear a lot about Genesis mining.

So I contacted their customer service, I actually contacted their CEO, and when I say contact I’m talking about emails and things like that. And we actually sent our team and David Fong, we actually sent them to Iceland to check it out. So moving forward in 2017 and moving forward, we like to have boots on the ground when we invest in something.

So we like to go there and inspect it and make sure that everything is legit. And one of the things that we discovered was that we never got any contact back from them, no one responded, no one said anything. And then our team went over there and looked at the Google Maps where their headquarters or their facility was at.

We didn’t expect to go there and they let us in because I’m sure it’s a secured area, there’s going to be high security there and stuff because they gotta protect their mining assets and their mining equipment and stuff. But when they actually got to Iceland they did not see any buildings or anything there where the Google Maps said that it was.

And then a couple of days ago, I got an email response back from Genesis mining customer service and they said that they would not do the public tours or whatever. And so after that we dropped the case because we couldn’t conclude whether it was a scam or not, we can conclude that it’s not more profitable than investing in the token, but the thing that we were looking for was that is this a legit operation.

It’s neutral about that because no one ever contacted us until we left Iceland. So let’s list which gears here and gets your thoughts on a few controversial issues that are going on right now in the Crypto space and what’re your thoughts on it and how investors should view it to make money? Because this is an investing channel, this is not a technology channel, this is not a philosophy channel, this is how do we make money from the controversies that are going on.

So the first controversy is about the Bitcoin Hard Forks and all these baby Bitcoins that are being born, and then we got the Segwid2X coming up in November. What are your thoughts on it and how do you plan on responding to these events? With your portfolio, is there anything that you’re gonna do special or unique to your portfolio to respond to it?

Levi Illis: Not necessarily. If you look at Bitcoin Gold and also how it’s being priced now on BitFenix, it’s not a significant value at the moment which you then spend that small percentage on extra Bitcoin to put there to gain some Bitcoin Gold, and in the end, you can get better gains with other coins.

So now I think Bitcoin Gold, whenever I have them I’m just going to sell them with regards to Segwid2X. To be honest, maybe people will disagree, it might happen but I think it’s not gonna happen, and if it’s gonna happen it will die. And maybe people that think I’m crazy but just to look at it from an economic perspective and if you look at Bitcoin Cash, Bitcoin Cash has the bigger block sizes already.

Why would you have the Segwid2X part with a smaller 2MB size? And the mining power is mainly coming from China, so I personally think that China is going to just go for Bitcoin Cash or for the normal Bitcoin. And of course they are giving the opportunity as well to mine for Segwid2X, but what are they going to do their self. And then I guess they are only going to choose for Bitcoin or Bitcoin Cash.

Tai Zen:

So your game plan is that you’re not gonna do anything. Because we’re not buying more Bitcoins, that to me is just a bunch of bullshit. We don’t believe in all these baby Bitcoins diluting the value of Bitcoin, and I have less than half a percent of Bitcoin.

I probably have high 2 or 3 Bitcoins right now at most. I’m saying that for the benefit of the Bitcoin community, I don’t believe that it helps the value of Bitcoin when there are all these Bitcoins coming popping up because that system confused the public when it entered the market.

And to get mainstream adoption we don’t need confusion, we need clarity so that when somebody comes in they know what Bitcoin is. We don’t need somebody to come into the Crypto community and go what’s Bitcoin Cash, what’s BitcoinDark, what’s Bitcoin Seguin, what’s Bitcoin Gold, what’s Bitcoin Core.

Nothing kills adoption faster than confusion, that’s why we don’t make videos about them and discuss it because to me, I don’t want to contribute to that confusion. Even if I had more Bitcoins, I’m not gonna move Bitcoins around just to get a few Bitcoin Cash, Bitcoin Gold. I’m keeping it in cold storage and keeping it there, I’m 99% in altcoins.

The only time I keep Bitcoins is if I need to get into an ICO or if I need to buy other coins, but the majority of time is in altcoins. What about the Ethereum Hard Fork that’s coming up? What are your thoughts on that and how’s that affecting your strategy to manage your portfolio?

Levi Illis: I started already selling off a lot of Ethereum, to be honest, I think I sold off already 75% before the Hard Fork but I still have a good position in Ethereum. But the thing with Ethereum is I’m a little bit skeptical about the scaling roadmap. At this point in time, they need 2 different metropolis Hard Forks to get to that ultimate scaling goal.

And I’m just a little bit afraid although from a corporate adoption perspective they are doing a good job with enterprise Ethereum alliance, I think technologies will pop up left and that will also fix the scaling issue that Ethereum is facing on a shorter term and what will then happen over time.

It can be a little bit of a benefit but the major thing in the Hard Fork, and please correct me if I’m wrong, is the ice age sting will be extended a little bit. If you know already that you’re going to skilled and put it in and go to the next step.

Tai Zen: So you’re not acquiring more Ethers or getting rid of your Ethers, you’re on a holding track with that thing. I’m doing the same thing, and a lot of people are asking is there going to be a Hard Fork? After the Hard Forks, is there going to be a third Ethereum chain that’s gonna be produced? And my strongest opinion is that there won’t be, and here’s the reason why.

Maybe you can share your thoughts on it too, but my opinion is that the original Hard Fork to bail out the DAO. There are portions of the community did not believe in bailouts, they do not believe in bailouts and that’s why they stuck with Ethereum Classic because they didn’t believe in the bailouts.

I’m one of those people that did not believe in the bailouts either, even though that’s the position I lost the most money since I got into Crypto, the project I lost the most money on in terms of percentage wise is the DAO. I invested in it so I lost a shitload of money on that. Even with the money, if you ask me Tai would you take the losses and maintain the immutability of the blockchain, I would say yes.

I’m willing to sacrifice my losses to maintain that immutability because that’s what gives it value. So there was a community who believed that was there. But there’re people that wanted their money back so they had to do that Hard Fork.

So there was a bailout issue there. I don’t believe that this Hard Fork is a bailout when they go to Hard Fork to update the software, it’s not a bailout. So I don’t believe there’s any reason why the community would splinter or split up into a third Ethereum blockchain.

In right now Bitcoin keeps splitting up because it does not have a governance process, there’s no decision-making process and when I say governance process, people that don’t understand what a governance process is, they think that I am suggesting that Bitcoin needs a government. A governance process is a decision-making process, where the majority of people can come to a decision and then execute on that decision.

It can involve the government but it does not have to have a government, it’s just a process. And right now Bitcoin does not have a governance process but Ethereum does, and their governance process is what we like to call the benevolent dictator model. So they’re using Vitalik as the benevolent dictator, and he’s gonna dictate downwards what needs to be done with the network.

And because he was the founder of the network and people know that he’s not motivated by money because he’s already got gazillions of dollars, so the decisions that he makes, people are going to trust his opinion, we’re going to trust that he’s doing the thing for his network.

So because of that, that benevolent dictator model that flows downhill, I don’t believe there’s going to be a third Ethereum Hard Fork chain. So what’s your thought?

Levi Illis: I totally agree with you on that one. Hard Fork doesn’t need to be an issue, if you look at Monero for the instant, they have been Hard-Forked like 6 times or even more, I don’t recall. But it doesn’t need to be an issue in this particular case for Ethereum, I also do not agree that there’s going to be a third chain.

Tai Zen: Because a lot of people want free coins. I think the people that just want free tokens without spending any money. I think those are ones that are in favor of the third Fork so they can get extra bonus coins.

I don’t believe any of these baby coins that come out of the Hard Forks are extra value, I think it steals value, it steals time and it steals resources away from the original blockchain. Some people will believe that hold on to your Bitcoins and get free Bitcoins, free money. It’s not free money, they’re stealing and diluting the value of the original Bitcoin that Satoshi created, that is my opinion.

On your channel, you said that you like to make learning Crypto entertaining. The reason why I brought you onto our channel is that I always look at all the different channels and every year I always like to do a video about all the different channels that are worth following.

And when I saw your channel it kind of stood out because there are all these dozens of channels popping up and you just don’t give a shit on how you protect yourself and stuff. And I was like this guy’s got the balls to do that, not worry what people think then it’s worth taking a look at.

Similar to Bitcoinmeister, most of the stuff that he says about Bitcoin I don’t agree with, but I do agree with this, I agree that he’s not just another echo chamber, that he does give his commentary and his opinion on it, and it’s from a different perspective and he’s just not echoing what other people are saying out there in Crypto land.

So this is gonna be a tough question for you, so what are your top 3 favorite Cryptos now that you like? This is not a buy-or-sell recommendation. This is just Levi’s favorite. What do you see is your 3 favorite that if you had more Bitcoins, you will get more of it?

Levi Illis: If I had more Bitcoins that I will get some more Bitcoin, then Monero is also one of my favorites. I really think that privacy is a right that everyone should have.

Also at the certain point of time, look at where the banks are heading to, they want to go to a caches environment, and you have seen what is being done in India where a lot of higher value bills have been decommissioned, also here in Europe the $500 bill has been decommissioned, also if you look at pure technology perspective, mobile payments according to Statista is going to grow over time.

And I think these steps are being taken also to get rid of cash in general. Now if you have another collapse of the financial system, if you were in the situation of the people in Greece, and in the situation of the people in Cyprus where all of a sudden you cannot get access anymore to the bank and you’ve lost all your cash, and cash has no value anymore.

I think it’s also good to be in this type of coins, the way you are really disentangled from the system. Not only that but also from a corporate perspective and then Monero would be a good choice or Zcash would be the better choice. If you would do corporate transactions or in general if you have a company, some funds just need to be private from that sense.

Tai Zen: I heard you mentioned the Privacy Coins and you mentioned a Monero and then Zcash. What about the other Privacy Coins? Do they not have value in your eyes or do they not matter or what made you focus? Because there’s Komodos, there’s XEMcash, there’s Particle, there’s Aucoin, there’s several others, dozens of them, there’s Verge that’s a new up-and-comer. So what made you focus on these specific Privacy Coins and not the other ones?

Levi Illis: So I didn’t diversify a lot because at this point of time, I’ve invested enough. And if I diversify, of course, I do it a little bit with a bit smaller amounts for my situation.

But the thing that I like for Monero and others have a little bit as well, is that the main focus is the privacy, if you look at Dash for instance or FX, you have the option to make it private. But here at Monero, it’s the other way around, it’s private by default.

Tai Zen: So you said first is get more Bitcoins, and you said can you like Monero and Zcash which are the Privacy Coins that you like, is there a third one that you like?

Levi Illis: People might hate me now but I don’t care. But in the end, it’s all about making money.

Tai Zen: I’m glad that you say that because sometimes I wonder why people even get into Crypto. We make it very clear, we’re gonna make life-changing money, we’re not a technology channel, we’re not trying to change the world.

I’ve made more changes to the environment, to the people around by having more money, by not being broke. Which is the one that you think that people are gonna throw tomatoes at you?

Levi Illis: Ripple. For the midterm, I guess with Ripple that is still about gain. Purely because it’s a company that is already has hundred of customers and they are really a company that’s having revenue, and then in a segment that it has a lot of money.

I have a little bit more favorites but now at this point in time, I think there’s still some money to make with Ripple.

Tai Zen: Actually we have a video series called “Tai Fu mistakes” and some of the mistakes that we made along the way and I haven’t had a chance to make it yet, but that is actually one of the video topics I was gonna make a video about. One of the mistakes that we made on our team is Ripple, because it’s a private blockchain and we saw no value in there.

But the mistake that we made is that you cannot overlook the fact that a project has customers, any project that has paying customers has more value than any project that has just a piece of white paper. Because in business, the hardest thing to do is to get somebody to give you money and pay you. People laugh when we talked about Factom, it’s a project out of the City of Austin Texas.

And the thing that we made an investment thesis or investment is that they got customers, they got working software and they got customers. So you can’t knock a project when they have working software and they got customers, and not just any type of customer, they have somebody like the Department of Homeland Security willing to pay them.

This is not like your average mom and pops next door, this is a Law Enforcement Agency, so you can’t be bullshitting them, you can bullshit other people but the last people you want to go bullshit is the Law Enforcement Agency. That right there confirms to me it’s a legit project, when you can get a government Law Enforcement Agency to buy your product.

They’re not going to come in and buy a scam product or a bullshit product. I’m not saying everything that the government buys is good, but the last thing you want to do is go pitch your Crypto project to a Law Enforcement Agency. We hired a securities attorney to review everything that we do, all our products and our services.

Our free stuff on YouTube and stuff like we don’t care too much about, but the stuff that people give us money for, an invest in a home study course, a Cryptocurrency investing blueprint or they come to our 4-day boot camp training, a Cryptocurrency investing boot camp, we have our securities lawyer sit in there and make sure everything we do and say is in compliance with US regulations.

When we first look for one, my business partners were like let’s just get an attorney, I said no we don’t just get another attorney, we gonna hire a securities lawyer that used to work for the SEC, or even better we can get one that used to work for the Department of Justice as a prosecutor. And that’s when we brought on to review all the products and services we have to make sure that we’re in compliance with US regulations.

Because we don’t know the law, we need somebody on that side in law enforcement to let us know so we make sure that we’re in compliance. The other mistake I think we made with Ripple like you mentioned, is that we did not take into account that the banks and all the financial institutions, they’re not gonna go and put their business on a public blockchain. If they do that, they’ll increase the value of Bitcoin and everything.

The reality is they have to report to shareholders and to board members, there’s no way they can take their business and go put it on a public network. They have to put it on a private network, and that was something that we overlooked.

Realistically if you and I own a bank and we have shareholders that we have to report to, we have to file with the SEC quarterly reports on what we’re doing and everything and we have to report to law enforcement, there’s no way that we can take that legal risk of taking our entire business and putting it on a public watching.

And that’s the mistake that we made, so I agree with you on Ripple, I do agree with you on Ripple. We have to disclose this to our audience, you’re not being paid by Monero or Zcash or Ripple?

Levi Illis: Of course not, I’m an independent man.

Tai Zen: So let’s take some questions from the audience here, if you guys have any questions just leave it in the chat box and then I’ll get Levi to answer it. Some of these ICOs that you guys are bringing up, I’m not familiar with it. I can’t comment on it because there’s so many that’s coming out.

So Danny Blokland, he asked if you can share some of the big mistakes that you’ve made in Crypto, outside of Cloud mining? What are some other mistakes that you made that our audience can learn from?

Levi Illis: In my opinion, whenever you make a mistake, it doesn’t necessarily mean that it is a mistake, you always learn something from it. I used to be a DJ also in the past and I used to organize some gigs. And at the certain point of time, it was getting bigger and bigger, so I thought I was going to organize a gig in the bigger city.

And in the biggest city, I didn’t do my research pretty well and I was throwing out a house music party but it seems to be an urban RM beep joint at a certain point of time so I lost like the 5-figure number. And what I learned there was this was not my thing anymore, living the nightlife and that’s what I’ve learned from it.

It also put my focus on other things, it was an expensive lesson but that’s what one of the first lessons. Then in Crypto, I think selling off my Desk instead of buying a Masternode.

Tai Zen: I would agree with that. I should have bought a Masternode when it was low enough to buy one, that would have been very nice, that would’ve been a nice residual income.

So that’s one of your life lessons and Crypto lessons, what else? Are those the biggest mistakes that you made or anything else? … So Luciana Valdez from Miami asks, why haven’t you guys spoken about IOTA in the tangled technology, you guys come from the NXT community and all the potential disruption.

I have to answer this one because it’s more directed towards me but I actually know the founder of IOTA, one of them is David Sonstebo, he was actually one of the original guys, there were 5 or 6 of us that set up the NXT foundation to help promote the NXT, it was myself, it was another guy named Bas Wisselink, he’s also from the Netherlands, Evil Dave is also from the Netherlands, and then it was David Sonstebo from the IOTA, one of the founders, and then there was Max Kordek who is also the founder of Lisk.

So we were all the group and there’s a couple of more guys that’s in the background that started the NXT foundation, and then before it got settled they splintered off, Max went off and did some other stuff and then David went off and did some other stuff. And then eventually Max when did Lisk and then David went and did IOTA.

I contacted him a few weeks ago, to bring them on to the channel and talk about IOTA but it’s just a scheduling issue, it’s a time issue. One of these days when we have both our schedules lineup, then we’ll bring him on and we can talk about that.

So there’s a bunch of commentary about people investing into Bitconnect, have you invested into that or are you familiar with that or do you have any commentary on that?

Levi Illis: I am familiar with it but I’m not invested in it. To be honest, I see that some people are making good money on it, but if you look at their program it really looks likea Pyramid Ponzi scheme.

In the end these types of companies will get caught, it might take years and you might make a lot of money but in the end, it will get shut DAO. I also have my own company and I do not want to get into these kinds of things.

Tai Zen: So we’ve made hundreds of videos on Crypto and there’s only 1 video that we’ve ever made where we accuse a Crypto of being a scam and that was Onecoin. We made a video about it and it’s probably the most popular Onecoin video out there.

And the funny thing about it is that we made this video and told the community to stay away from it and everything long before the European financial authorities started investigating it, and now all the law enforcement agencies are investigating it. I want to make it clear so that everyone’s listening knows.

Every coin that comes out has been accused of a scam at least a dozen times. The problem with people making scam accusations is that they never tell you the factual information that makes it a scam, and what makes something a scam is when there is a misrepresentation, there is a fraud, there is theft, there has to be some kind of law that was broken to make it a scam for that country.

You can’t just call something a scam, there’s only one Crypto that we’ve ever called the scam and that was Onecoin and the reason why we were comfortable in calling it a scam because we don’t want somebody to come back and sue us for defamation or saying bad things about them, that’s not true.

So that was the reason why we wanted to go out to Iceland and inspect the Genesis mine facility because some people call it a scam, some people say it’s not a scam, we just want to go see it for ourselves, and then that way we can make an accurate video about it.

But Onecoin we said was a scam because the scam is that they are misrepresenting what they do and who they are, they’re saying that they are a Cryptocurrency but you cannot find a blockchain or a BlockExplorer for them.

They’re saying that they’re most traded coin but you don’t see them listed on any of the major exchanges. So the scam in Onecoin is that it’s a misrepresentation, you’re saying one thing but you’re actually something else, you’re saying A but you actually B.

That’s what makes it a scam, a lot of people say that so-and-so coin is a scam just because they don’t like, this is just a personal opinion. So we’re always hesitant to say that. Now if we were doing research on Bitconnect, it was very hard for us to find factual information on it, on some of the stuff that they claim.

I don’t know about the Netherlands but in the US, when you make a claim especially if you’re a public figure and you make a claim, you have to be able to back it up. If you’re a company and you’re saying my product or my service does this, you have to be able to back that up. In some countries, you don’t have to do that but in America, for consumer protection and for fraud protection, you have to be able to back up your claims.

So because of that, we haven’t made a video about Bitconnect yet, simply because when we research it and we look at all the people that do talk about Bitconnect, they’re not people that we would quote-unquote trust in real life. I’m not naming names or anything, the information is being provided about Bitconnect does not come from what I would consider a reliable source.

That’s why we do not invest in it, we don’t recommend our audience to invest into it because the source of the information about Bitconnect, we don’t believe it to be a credible source. What’re your thoughts on the arc?

Levi Illis: I can only agree with you Tai on this one.

Tai Zen: Voy Walker from the Netherlands, he wants to know what your opinion is on Rivets? They just completed their ICO recently and listed on HitBTC, you have any thoughts on that?

Levi Illis: I think security is one of the main priorities and especially with new technologies emerging. And I think they have something very unique hardware security instead of software security.

Of course, it has not been very hyped, and you also see that now with the post ICO price. But if you look at it long term, they are a working company, they also have some contracts in place with homeland security as well I guess.

Tai Zen: I’m not sure on that one. I always like projects that are going out there to get customers, to get users. Sometimes people live in fantasy land and they forget that in order for software, a product or service to succeed, it needs users, it needs customers.

Anytime you put a product or service out in the market, you need users. If you don’t have any users or customers, the products and service are not good for anyone. So the ability to get customers and users is extremely important from my perspective before I invest in a project.

The CEO of Rivets, he comes from the traditional world where that was his role before was to get users and customers, he’s familiar with that, he knows that from our discussions he’s fully aware of what they need to get customers to use it. So Paul Barrett asked, what were the last 2 coins that you buy? And what were the last 2 coins that I buy?

Levi Illis: The last coin that I bought, I guess it was during the Dip I bought multiple when the market kept dropped to 98 billion. I bought multiple but I bought Metal on the Dip, I strengthen my position on OmiseGo.

Tai Zen: I like OmiseGo but I passed it up because of the OmiseGo and Quantum, it makes sense but I passed it up because I’m not paying 200 million dollars valuation for jack-shit, for a piece of white paper. If you look at the traditional VC world, if you go to Silicon Valley or you go to Wall Street and you have an idea for a product or service, nobody gives you 200 million dollars.

There’s nothing that you can do as the startup, there’s nothing that you could absolutely do with 2 hundred million dollars that makes sense. They give you half a million dollars, go build the prototype, bring it back and then we’ll give you some more money.

And then they’ll give you a million dollars, go get a cup of water, 2 customers and show us that you can do that, we’ll give you some more money. Nobody gives you 2 hundred million dollars. I’ve been wrong before but I want to take my chances with the smaller valuation projects.

Levi Illis: I chose OmiseGo also that they have also a big customer base in the Asia-Pacific region. And I have chosen for Metal because also looking at the growth rate in the coming years for the cannabis industry because they are focused in that sector, and the legal cannabis industry in the US is growing and growing, so it’s a billion-dollar market.

They already have 200 customers but the forecast is that they are going to do 200 million transactions and for next year is gonna reach a billion. And this type of companies, like also porn business-related companies, just to name some taboo kind of sectors.

They have issues with getting into financial services and I think it might be a fair chance for them to use these services of blockchain technologies like Metal. So that’s why I got into Metal. I also have precious metals but now I’m talking about the Crypto Metals.

Tai Zen: Denny Blokland brought up an interesting factor. He said that Bitcoin is up by 5% during this video broadcast. Leon and I, we organized Crypto into what we call “buckets”.

Like Zencash, Monero, Dash, Pivot, Zcash, Particl, things like that. That goes in the Privacy Coin bucket, because they focus on privacy, even though Dash is starting to lean away from that and become more of a currency than a Privacy Coin. Whenever people ask me what’s my favorite coins, I actually let them know that I focus on more on what’s my favorite Crypto buckets.

And the 2 buckets that I’ve been getting into is the decentralized video gaming bucket, and the decentralized gambling bucket because those are 2 areas that I believe or have huge friction. People want to make that on certain things and use smart contracts to do that without giving the house an edge. So things like edgeless, I’ve been getting into those while the price is falling.

I’ve been getting into those just so that I have a position, like MobileGo game credits. So I just want a little bit in each bucket so that if that bucket hits big, I want to be in that bucket. I wouldn’t say necessarily a specific coin, but it’s those 2 buckets that I’m looking at.

And then the next bucket that I’m doing heavy research and putting a lot of money into the research right now is the decentralized social media and the decentralized content creation bucket. And we recently put out some videos where we went to New York City that cast out some ICO software.

At the time that we released that video, we weren’t able to disclose the name of the project but I can disclose it now, it’s the Props project that is created by the, by the video live streaming software project, 6 million dollars a month in revenues and sales. And they have 40 million registered users.

So they have a huge base there and we’re gonna be putting out more videos about them here shortly. I don’t see any more questions coming in for you Levi, so let’s go ahead and wrap this up. We hit our hour mark anyways.

So thanks for coming onto our channel and sharing your thoughts and your experience and some of the mistakes that you made for our audience and I’m sure that they’ll learn from that.

Levi Illis: I’m honored that you have reached out to me initially.

Tai Zen: We have so many people out there on YouTube that are just what we consider echo chambers. They just regurgitating what somebody else said or they don’t have their own personal opinion, and I think the value that we want to bring to our audience is that people who have their unique personal opinion. So the name of the project that I just mentioned is from a company called

“You” as in me and you, and then “now” as in now. And if you go to their website at the top, it’ll say “Props by you now, read more”, and you can follow that. Does Mister Crypto ask what’s a “pickle chamber”? I did not say pickle chamber, I said echo.

A lot of broadcasters on YouTube they just repeat what other people say instead of giving their personal opinion, and I think that the value in your channel and somebody like Bitcoin Meister’s channel, is that I don’t have to agree with your opinions or your commentary but it’s your opinions and your commentary.

And it’s not a regurgitation of somebody else’s opinion or commentary, and I think that’s where the value is. Here’s a different perspective, it doesn’t mean we agree on it but here’s a different perspective and a different outlook on the same project than what we have.

We don’t believe that we’re always and we don’t believe that we know everything. So there’re other people out there that cover different topics that we may not be aware of in our audience. We’re here to help our audience make life-changing money, so you introduce them to other channels with different perspectives, allows them to do that then it’s worthwhile for us to bring other people along.

When I first started my channel, I tried to get on other people’s channel and shared my thoughts with them, they just ignore like that they’re too good for if you. One of these days when our channel gets big enough, I’ll bring on the little guys or new people coming out and then help them start their channel. So if you guys like what Levi is saying here, go to his channel

Pound that subscribes button and pounds my like button and leaves comments and let him know that you heard about his channel from our channel and say hello to him, check him out. He has a different opinion about Crypto than we do, he has a different approach to explaining Crypto than we do. And check it out if it helps you make some life-changing money, by all means, make sure you pound that like button and found that subscribe button.

So thanks for coming on, Levi. And this will conclude the broadcast and if you guys like these types of videos and you want to learn more about what we’re doing go to and that’s where we send out all our news broadcasts.

We’ll look forward to seeing you guys in a feature video. Make sure you go to Twitter and follow Levi on Twitter also.

Learn more at:
Twitter: @damousdj

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