Tai: This is Tai Zen, Bitcoin advocate, world’s most awesome trader coach.
Eric: If I could throw up a sign for Bitcoin right now, I’d do it.
And in this video guys, Eric and I, we are going to talk about the five reasons why we invest into Ethereum so in case you are interested in investing into Ethereum, here are the five reasons why we invested into it.
It may not apply to you and it may not be at the right time, but this is the reason why we did it back before it came on the market.
So reason number one okay, was that out of all the Bitcoin 2.0 that came out…And Bitcoin 2.0 means that all the cryptocurrencies that came out after Bitcoin right.
So at the beginning of 2014, the two most anticipated and the two most talked about cryptocurrencies that were legit 2.0, that were completely different, and we’re not talking about like Litecoin or Dogecoin or any of those. They just took the Bitcoin software and copied it and just gave it a different name, they changed a few parameters like how fast it gets processed or something, and then they just change the name of it. They change one feature of it and then they change the name of it.
We’re talking about a cryptocurrency that is completely different, starts from scratch, and it has nothing that is similar to Bitcoin other than the blockchain or the public ledger technology or the concept of a public ledger.
So in the beginning, the only ones that were available were the NXT which you guys have seen me talk about on video and at Bitcoin conferences. You see me talk about NXT and stuff so I invest into that and I also invested in Ethereum because it was also the only other cryptocurrency that was different from Bitcoin.
Then I went to the Texas Bitcoin Conference and I met Vitalik so you know, I learned more about it so that really reinforced that the software was very different from all the other cryptocurrencies that were considered alternative coins or sometimes you guys hear it called as altcoins, alright.
So the first reason was that it was completely new cryptocurrency.
The second reason that we chose to invest into Ethereum was the fact that Goldman Sachs former traders were involved. Now you guys know that Eric and I believe in taking power away from the 1% on Wall Street and bring it back to the general public like us, the people on Main Street.
Eric: Who’s better qualified than an inside man.
Exactly. Whenever you want to beat the man at his own game, the best way to do it is to have an insider who knows their game and bring them on your side. So now when they brought a Goldman Sachs on, my first concern was if Goldman Sachs is involved with it, then I am really concerned.
Because somehow or another, they’re going to screw over the general public like they always do. But in this particular case, it was not Goldman Sachs that was involved in, but it former Goldman Sachs employees, former Goldman Sachs traders.
It really doesn’t matter who it is to me. All it matters is that they used to be a Goldman Sachs and now they are part of the Ethereum team. And what was important to me. That increases the probability of success and it reduces the risk of failure, simply because somebody on the inside from Wall Street is actually participating and as part of the Ethereum team. So that was reason number two, is that they had former Goldman Sachs employees on the team.
Reason number three, is that when I went and spoke at the Texas Bitcoin Conference, at their first conference that I was invited to go speak at, I had a chance to interview Vitalik in person, and I spoke to him and I drilled him hard, I interrogated this guy, I questioned him and I asked him some very hard questions.
And you guys can watch those videos on my site and see for yourself. And the one thing that I liked was that he did not crack under pressure.
He was a young kid. I’m in my 40s and for him, he was only like early 20s, late teens or early 20s and for someone that young to remain calm, collective, and stay cool under pressure from me, from my buddy Leonfu.com and from James D’Angelo, and we were surrounding this guy.
He’s a little young kid and we were just hammering him with questions and he passed with flying colours. And so that let me know that…
I’m not a computer program and I don’t understand a damn thing about computer code or software but what I do understand is if somebody that is smart and that genius about computer coding and software and stuff like that, and they don’t crack under pressure, that let me know that no matter what happens, he is going to continue.
Not only that the questions that he answered, the way that he passed your tests, but it was alson’t like a sales guy. Sales guy can B.S his way through stuff. You kind of trust them but you don’t get any answers. This guy was giving you a solid answer.
Everything that he had to throw at him they had already considered it, they had already gone over that. What if, and they had already made fail-safes, whatever the deal is, they had already had solutions to everything. That I was trying to bring up.
Yeah, so I was not investing in the Ethereum software. I was investing more in the individuals behind it and since I don’t understand their software, their coding, I brought James D’Angelo along and Leonfu.com and those guys understand about coding and software and the science behind it. So I trust those guys.
So they tell me that Vitalik, what he’s saying is doable, that’s possible as long as they have the right people and funding and the right team in place, then I don’t mind investing into it. So the third reason was the individuals like Vitalik himself.
The fourth reason was, in addition to Vitalik, the fourth reason was the people surrounding, the people around me and the people around Vitalik.
There were a lot of people that were good computer programmers that spoke highly of Vitalik. People who were well recognized in the Bitcoin space and the Bitcoin community, and they recognized that Vitalik was a young cryptocurrency genius.
And the guy, if you look at some of the work that he’s done, I mean the guy is very productive. He puts out a lot of code, he puts out a lot of posts on blogs and the guy really explains himself you know.
My friend Leonfu.com and like I said and James D’Angelo, these guys are much more knowledgeable about cryptocurrencies and coding than I am, so I trust what they say about it. So the fourth reason was that Vitalik was surrounded by the right people that spoke highly of him, and then I was somehow surrounded by people that I trust that thought highly of what Vitalik was doing. So that was the fourth reason. Do you have any other reasons?
So the fifth and the last reason guys, that we invested into Ethereum was…Eric and I both work, we have a background in sales and marketing, so we work a lot in the sales industry and we understand how important it is to be able to sell your products or your services to the rest of the world.
And matter of fact, the success of any product or service in the world is based more on how strong the sales and the marketing behind it more than the quality of the product itself. So that’s actually important.
So when we looked at how the sales and the marketing were done in the cryptocurrency space, I give credit to the Ethereum team for doing a very very solid and excellent job of sales and marketing.
For example, they feed into the public’s belief of a genius that would come up with a new cryptocurrency, so they put this nerdy geeky looking guy Vitalik on stage, and it’s a young guy, it’s a computer guy and it’s very obvious he looks nerdy and he looks very technical and very geeky. And that’s what the public wants. And that’s what the Ethereum team did.
They could’ve easily had other people on stage talking about their Ethereum project, but instead, they put this geeky guy up there so that it appeals to the public of what they want to see when somebody comes out with a new cryptocurrency.
The other thing they did was they hyped up the fact that they had former Goldman Sachs employees involved in the project. So they really know how to hype it up and they were going around to different Bitcoin conferences around the world and speaking of Ethereum and showing their face, showing you to the public what they were doing.
Eric: Literally like a campaign or like a band going on tour. They went and hit up all the hotspots and made sure that their faces were seen. This is actually a big one for me because I’ve got a pet peeve with… when I started becoming interested in some of these other alt currencies, they didn’t have the marketing, they didn’t have anything going on.
Tai: They have a public figure that you can relate to.
There was nothing that I could go and look up. All I did is I go on the internet and you find a bunch of technical crap that nobody understands unless you’re a programmer, which I’m not. So that right there doesn’t communicate to the public. It doesn’t market. It doesn’t share any kind of information on progress.
And with Ethereum, this is what they did with their marketing campaign, they kept you guys all in the loop. They kept us aware of what’s going on. “These are our plans. This is around the area that we’re at. This is what we’re doing” and they kept in the public limelight so their marketing and their communication to the public, to me, was kind of a big deal saying hey you know what, that’s not the only thing that’s different about the coin itself. They’re actually approaching it as a company, extremely collected. So I was very attracted to that.
So that’s extremely important guys, because no matter how good the cryptocurrency is going to be, if they don’t have a solid marketing and sales team or marketing or sales effort behind it, then the chances of it succeeding are very very low.
So hopefully that this video will help you guys make the right decision whether or not you want to invest in the Ethereum. Please do your own due diligence and learn why you should invest in it or not, but those are the five main reasons why we invested in Ethereum in the first place.
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