Lisk.io For Investors #5 – What Are The Risks Involved When Investing In Lisk (LISK)?

This is Tai Zen. As you guys can see, we’re driving to downtown Boston right now. I got a crazy-ass Russian driver, I don’t even feel safe man. I think he might try to rob me or something and drop me off in the wrong place.

Anyway guys, in this video, I want to talk about the risk involved with investing in the Lisk.io. Here are some of the risk with the people and then I’m going to talk about some of the risks with the technology itself.

Like mentioned to you guys in the previous videos, Max and I and the others in the NXT community used to collaborate to promote the NXT, and then when he left the NXT community, he moved on to the Cryptsy community and then from there, he’s starting on the Lisk.io and those are the three cryptocurrencies that I know that he was involved with. I don’t know what he did prior.

Obviously, he had some involvement with Bitcoin, otherwise, he would not have known about NXT. But here are some of the things that I know that could be a potential risk that I want you guys to be aware of.

First of all, he’s a young guy. He just got out of college in Germany, and so he has been trying to dip his toes in all the cryptocurrencies, whatever he can get a hold of so that he can strike it rich and there’s nothing wrong with that.

There’s nothing wrong with a young person being ambitious about making money and succeeding in the cryptocurrency world or trying to be the early bird or have the early mover advantage. There is absolutely nothing wrong with that, so don’t ever think that something’s wrong with somebody trying to make a buck.

The only thing that I would be concerned with when investing into Lisk.io is that because he’s young, he may not be able to manage a multimillion-dollar fund to ensure that it succeeds.

Whenever people don’t come from a lot of money and all of a sudden, they run into millions of dollars all at once, they can be very dangerous and they can misuse or misappropriate the funds, and I’m not saying that he will do it on purpose like run off with the money or pull Bernie Madoff and run off with everyone’s money.

That’s not what I am suggesting at all. What I am suggesting is that he just not experienced to be able to deal with millions of dollars’ worth of funds.

So that would be my concern here is does he have the experience and so far there is no indications or evidence or historical record to indicate that he has experience in managing millions of dollars, and since I’ve made the first video about Lisk.io where they raised over 9,000 Bitcoins already, at the time I’m making this video, I double-checked and I think that they have raised over 11,000 Bitcoins. So that’s quite a sum there.

So that would be the risk is that he does not know how to manage that money and use it wisely, and I will be honest with you, I don’t expect him to be able to use it wisely because if he’s never had that kind of money to manage before, I don’t see it would be safe to say that this is going to be his first experience doing that, and I wish him the best of luck because, obviously if I’m investing into it, I want him to succeed in it.

I don’t want him to fail with it because then I’m going to lose money and so is everyone else… I think the three or four thousand participants that’s involved in the ICO, they’re going to lose money so obviously, none of us wants him to fail. We want him to succeed so that we can all make some money off of it

So that’s one of the things that I would be concerned about is his ability to manage millions of dollars. The second thing is will he be able to hire good developers right if he has never hired…personally paid for developers before and now, he’s sitting on a multi-million-dollar treasure chest and he has to go out there and hire developers to help him build the software, will he hire the right people and not lose several hundreds of thousands of dollars trying to recruit good developers.

So that’s would be the second thing, first is managing the funds and the second would be hiring the right people, and then another risk is that will he and his partners and his team will they be able to collaborate and still remain friends and still collaborate.

I have seen many people go into business guys and they start out with the best of intentions and then after millions of dollars start coming in all of a sudden, everybody’s attitude changes, and their level of willingness to work together also changes.

So that would be the third risk that I could see is the will the team remain cohesive and stay cohesive, because it’s very easy for someone to come in and push it off to split a wedge in between Max and his current teammate right now.

So I hope that does not happen, but that’s the risk that’s involved okay, because he’s young so there could be easily someone that comes in and sees that he’s sitting on a few million dollars and they get greedy and they try to put a wedge in between them and cause them to take sides.

I’m going to a neighbourhood right now called Brookline, in Boston. This is a very wealthy neighbourhood here. It’s a nice neighbourhood too. If you guys ever come to Boston, I would not move to live here, but if you guys ever want to come here, this is an area that you definitely want to come and check out and visit.

So back to Lisk, the fourth risk that I see that’s involved with investing in Lisk is… Because it’s a young cryptocurrency as with any…and this is not just related to Lisk, but this is related to any young cryptocurrency that’s coming out, is that there are going to be hackers that are going to try to break into and hack into their blockchain and screw with them. So that will be a very obvious risk.

That’s not just isolated to the Lisk but it’s to any up-and-coming ICO or young cryptocurrency with maybe the exception of a Bitcoin because it’s already survived for several years now and withstood all the hacks that everyone has thrown at it. So that’s the other risk that’s involved. There was another one…

I’m driving I’m looking at all these buildings and talking at the same time so I’m starting to lose track here, but the other one that’s involved with this is…oh the other thing too is these guys, the risk like I mentioned before, the risk in Lisk is as far as the time factor goes, the timeline of when they get things done, it will be a lot less than the Ethereum or the NXT or any other ones simply because they’re copying someone else’s software.

So that would be very easy, in my opinion, you know I’m not a coder, I would suspect that it would take less time because when me and my boys invested in the Ethereum, we had to wait a year and a half before we saw a profit, so that’s kind of uncomfortable to tie up all that money for such a long time. In this case, would Lisk.io I did not see that. Because since they’re copying the software.

So I just want to share my thoughts with you guys. Hope this video will help. You guys like it, subscribe. You guys don’t like; it gives me a thumbs down. You guys like it, give me a thumbs up and I’ll see you guys in the future video.

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