July 30, 2020
3237
0CryptoYoda’s Interview: Gain Money In Crypto World
We know how long you have been waiting for an interview with a famous person in the crypto world — CryptoYoda.
We complied with your request and asked him about his popularity, blog, and crypto world. We also asked him to make a forecast for the future of the crypto world and evaluate Utopia P2P in terms of crypto abilities.
Therefore, take a seat and enjoy reading the story of a successful person. Let’s start.
1. First, introduce yourself, please, and share with us how you reached such a high level in your niche and got so many subscribers?
Hello everyone! Thanks for inviting me to this interview. To introduce myself, in this space, I am operating under the pseudonym CryptoYoda with a strong emphasis on cryptocurrency, technical analysis, and spiritual matters of life. These are three areas I am especially keen to explore and share thoughts about constantly. The reason I chose the avatar of Yoda for my communication channel is the shared interest in ideologies, world view and focus in life. As such, the original Yoda devoted his life to learning, solitude and teaching, acting as a role model for my own ambitions in this world. I am therefore constantly reminded of the path I am walking and where it will lead me if I diligently pursue the many learnings of this life.
My rise in this space really came from a period of deep desperation. Deeply unsatisfied with the state of the world, reluctant to work for companies that solely have profit in their minds while further adding to the cause of the problems at the world stage, depressed and struggling to find my own way in life — this was the fertile ground where I sow my own seeds of ambition. I was poor but had time. I was in bad shape, but I strived for something greater. I began to climb out of the darkness, and even I did not know where my path will be leading me.
At that time, I saw something in the markets that barely anyone else seemed to notice: The early but impending ALTS rise. I saw it as a tremendous opportunity for life-changing profits. During the bear market that followed the 2014 All-Time-High, I thus studied in-depth all various ways to spot Major Trend Reversals early, enter with conviction, and ride it all the way up with a lot of patience. So when the time came to plant seeds, I was ready, willing, and able to act on my belief firmly. But it was not enough. There was this unsettling feeling to share what I saw at that time, and a good friend of mine encouraged me to create a Twitter account to spread my views to space. Recognizing it as my path, I created the Avatar CryptoYoda — which really isn’t me but just a portion of my personality — and began sharing everything I saw in the markets at a rapid rate. In the beginning, there was almost no interaction with my tweets, but I continued just for the sake of doing so. I was not in search of followers or engagement. I was in a mission to spread my perspective so others might profit from it and provide mentorship in this game that I never had myself.
Making a long story short, the demand for this kind of information was intense. I proceeded with opening a blog to elaborate in more detail about the market conditions at hand. I remember posting around 100 tweets a day when things really went uphill. It was astonishing to see how much attention these tweets generated. ALTS popped left and right, and I attempted to be as technical as I can be, taking fundamentals into the equation and emphasizing the former.
Fortunately, I was right on the spot. ALTS really lifted and resulted in the strongest alt season yet. I encouraged people to enter early with solid technical breakouts. Several trades really stood out. I began buying BTC around the $250 mark, accumulated $LTC at below $4, $XRP at half a cent, and ETH at a dollar, with all these trades/investments, ended up being phenomenal in terms of returns. This naturally led to much attention and interest in the account. The increase of followers gained in the year of 2017 was remarkable. However, I was entirely unprepared for operating on the world stage at that time, and at times simply overwhelmed with the responsibility that comes with a large following, so it was not all shine & glory but a constant challenge to grow in all parts of my life which continues to this day. After all, life is about learning, so I welcome the opportunity to grow through the challenges presented in this space and become a better and more helpful person.
2. CryptoYoda, you are known for your crypto market reports. How would you describe the current state of the market of cryptocurrency?
My perspective on the markets is really divided. On the one hand, the market seems to be eager to pursue higher valuation generally. On the other hand, I remain cautious about BTC’s possibility of making a strong move in either direction, which would inevitably lead to turbulence and percussion in alt markets specifically. Closing above the critical $10,500 mark would very likely lead to a strong longterm rally for BTC. How alts will react to such a sudden move is a question that yet needs to be answered and will provide key insights for identifying the market phase we are currently in. Is the market ready for planting longterm seeds in ALTS? Perhaps it is, but I favor a more conservative strategy this season, integrating my experiences from past BTC moves and its effect on the whole alt market.
3. How do you think, who is in charge of cryptocurrency I’m sure that many have no idea how does it work on the whole.
To think the crypto market is a free market, without manipulation, is a dangerous thought for nothing could be farther from the truth. Because early players had the opportunity to mine & buy large chunks of BTC at very low valuations, the options for manipulations are manifold. The entry of institutional traders/investors further increased the possibility of manipulation for their own good. So in today’s view, I think both institutions and whales heavily manipulate the market. Trading and Price Action has changed tremendously over the years – which makes a lot of sense considering that early crypto investors mostly weren’t professional traders and had a general lack of market understanding. With the entrance of institutions and High-Frequency algorithms, trading ended up a great deal more difficult due to traps being constantly and consciously placed to take advantage of more uneducated and impatient market participants. However, this lies also a great opportunity to grow as a trader, as trading in itself demands constant growth and expansion into higher quality and increased understanding of the underlying principles of market structure and behavior of market participants. But in terms of manipulation, there is no reason to believe that it is less or different from any other market in the world. Greedy powers will always be looking to orchestrate movements for their own gain. This is one reason why the world is in such a bad shape right now, and it will take a great spiritual evolution to change this behavior for good. But this is something for another time perhaps.
4. Why does the Bitcoin price move so much? Okay, for now, it’s a world economic crisis because of the Coronavirus. But it also happened before.
I wouldn’t say that Bitcoin moves more or quicker than in the past. I feel its quite the opposite. The market became much more stable generally, but the intense volatility on key levels will always remain a characteristic of bitcoin and crypto in general. Interestingly, the increased correlation with traditional markets became very evident in the initial season of the corona. It has a lot to do with institutional players entering this market too.
5. What are the advantages and disadvantages of cryptocurrencies over FIAT?
The advantage of crypto over FIAT clearly is the freedom of choice inherent in this new financial technology paradigm. For eons, people had to trust their governments with the issuance of money without little or no insight into debt mechanisms. We live in a debt-driven economy, with basically all countries due to a debt, which can only increase over time due to massive interest rates on the loans they received. The general understanding of our current economic model is very fragmentary among the global population. This is a vicious cycle without a happy end, as long as we stay in this economic model as a globally connected society. Countries have to accumulate debt to pay for the interest of earlier loans. This will only lead to increased interest payments in the future. It is fair to say that all loans generated to increase the pressure on future generations.
Crypto offers an alternative to this debt-driven legacy system. A way out, so to say, but therein also lies the greatest risk of this technology. Blockchain tech can be used to give people back the control over their own financials and data. But this, of course, is not in the interest of those currently in control. Blockchain technology can as well be used to monitor, track, and accumulate complex data with the help of AI-technology, which would inevitably lead to restriction of freedom and open the gateways to a dystopian future.
I like to work with the example of nuclear energy. Despite not being a supporter of this technology in any way, as the harm on the environment is far greater than the benefit generated by its use, it is indeed possible to use nuclear science to generate energy or build nuclear bombs, which could devastate the planet. Was humanity evolved enough to develop such a method? Yes, clearly. Were they wise and mature enough to handle this technology with foresight and caution for all humanity? Clearly not.
In the same way, blockchain technology can be used for good and bad. It is upon the people to figure out the future direction for themselves. And so, the collective will decide in this regard, and I really hope we have learned from our numerous errors in the past, moving into a world of freedom and Utopia instead of continuing our descend into the abyss of destruction, chaos and dystopian nightmare.
6. What will you choose: Bitcoin or altcoin? Can it happen that some coin will become more powerful than Bitcoin is?
While there are numerous qualitative and ambitious projects out there, Bitcoin will remain king for some time into the future. It all started with Bitcoin, and it is the frontrunner of this technological-financial revolution. Underestimating Bitcoin would be a foolish endeavor. However, I would not out rule the possibility of one coin overtaking Bitcoin’s market cap in some years from here, depending on the innovation and possibilities generated with a more thorough understanding of the technology itself and the successful implementation of the real-world use cases. If forced to choose, I would stick with Bitcoin for the time being, but I am generally open to using alts as a primary tool to increase BTC holdings.
7. What cryptocurrency exchange is your favorite, and why?
None really. It sounds harsh, but there is a general problem with exchanges in this space. While in the beginning, when this space formed, exchanges operated freely, and without any legislative restrictions, trading was simple and anonymous. This has changed with an industry-wide implementation of KYC procedures, forcing exchanges to identify and gather its customers’ data. Anonymous trading has become very obsolete, and this development is worrying, to say the least. Anonymity has been a key pillar of this revolution, and it is slowly taken away by big players of the legacy system, undermining the initial promise of this technology. It is up to the people to develop exchanges with a strong emphasis on anonymous trading operating on a highly decentralized platform. Still, it demands that exchange owners position themselves against the legislative law. Naturally, it takes brave people to create exchanges that can’t be taken down, has sufficient volatility to actually trade while allowing people to trade without identification and/or limits on withdrawals. Immediately those brave souls would place the crosshair on their own backs, which is why the extensive usage of truly decentralized exchanges is almost non-existent to this day.
8. Have you heard of Utopia p2p ? It’s a self-financed project that differs from others by the absence of ICO and other stages associated with modern crypto projects. How do you think, can the inner coin Crypton be perspective? Taking into consideration that the project is fully released and is used by 100 000 + active members.
Before this interview, I have not heard of the Utopia project. Upon reading about it, I genuinely support the idea of creating ways to bypass the enormous data collection of Big Brother as named on the site. We are undoubtedly steering into a world where data is stored on a vast scale and actively used against the population. If we truly would understand the amount of data being stored about us personally, and if we could only see the intelligence behind it and its technical and analytical capabilities, we would be in utter shock. And this is yet the beginning, for the development in this regard is moving forward at an unseen pace. It is our responsibility to find increasingly efficient ways to bypass this humongous analytical Kraken. So naturally, I support any project actively engaged in such an act of resistance. Not because it is against the law, but because it is a fundamental right. Not because it is easy, but because it is hard. Two factors will significantly shape this project’s future: Firstly, the rate of adoption and real usage will drive attention to the project. That given, the other remaining risk is how steady the founders/developers can remain when under immense pressure from those who do not wish these mechanisms exist. It takes a lot of strength and courage to proceed with such a project knowing that you are being watched and actively worked against to shatter the project for good, which seems to be just a matter of time. My kudos to the project’s ambitions and everyone involved in the creation of such possibilities that may enable a more Utopian future for all of us.
Moreover, the project is just starting to go public. Which decentralized exchanges would you recommend for listing? Providing that its creators are completely anonymous.
As indicated, I am not satisfied with the current offer of decentralized exchanges yet. Still, at the same time, I do not claim to be aware of the entirety of current decentralized exchanges in operation nor those who are currently in development. However, I am sure that you will find the right path for the project as long as you stand correct to the ideological and moral values you have defined for yourself.
9. Where will the Bitcoin price be by the year-end and do you expect a halving boost?
Eventually, the halving boost always kicked in months after the actual event. It is to be expected that similar developments will occur this time around. In terms of timing, it is rather difficult and depends on how quickly BTC can leave the current range. As indicated earlier, a takeout of $10,500 would open the gates for a strong bull run in which case price could significantly pick up. In such a scenario, I would not be surprised to see BTC at a valuation around 16-17k at year’s end.
On the other hand, a larger correction cannot be ruled out unless the indicated level is taken out. The longer we are traded in the current range, the stronger the eventual move will be. I remain open to the possibility of seeing a strong drop before actually moving towards ATH, but this is purely speculative.
10. And the final question: what are your predictions on how the crypto market will develop, whether it will stagnate or thrive?
At this stage, it is very evident that crypto has a great future in terms of valuations. The public awareness for cryptocurrency will only increase with further rallies and more obvious evidence of the legacy system being broken beyond repair. People are searching to protect their capital from the shockwaves and repercussions of a dying global financial system that is coming our way. I can see valuations of both 100k and 1 million dollars in a far time future. However, we must account for the possibility that such immense valuations could come to fruition only by the sheer help of hyperinflation.
Can we afford not to buy Bitcoin and Crypto in general in such turbulent times like those we are facing in the coming years? I do not think. The far better bet is to buy at least some and be on the safe side when all hell breaks loose. And what we eventually make out of this grand opportunity for humanity eventually lies in our hands. For me, we are all shaping this world collectively. We all will be living out the consequences in all its glory for the better or worse. May the Faith be strong with us, and may it lead us onto the path into a future in which freedom of choice and expression are fundamental pillars of a whole new civilization.
I would like to end this note with a hearty thanks to Utopia for providing this opportunity to talk about all things crypto and the challenges our world faces at this time. If you are interested in more spiritual aspects and perspectives on our times, I would be delighted to engage in another future interview. Good luck with the project, may strength, persistence and goodwill prevail.
CY
We hope you enjoyed the interview and learned more about the fast-paced crypto world. If you are interested in crypto development, sign up for an anonymous CryptoYoda trader on Twitter and his blog. You will significantly improve your knowledge of technical and fundamental analysis. He writes not only about the main coins but also about newcomers to the market.
May the Fourth be with you!
