Bitcoin plunges in worst rout since 2013 - Los Angeles Times

The ABC of Token Sales: What Are ICOs and Why Should You Care?

In one year, the cryptocurrency market has gone from “the nest of speculators” to a legitimate investment vehicle. What happened? Something known as an ICO (Initial Coin Offering) has shattered the stigma of virtual currencies. Here’s what you need to know.
A thorough explanation of ICOs (and what they’re not)
An ICO is a new form of crowdfunding, where a blockchain-based company issues its own cryptocurrency - otherwise known as “token” - and sells it at a discount to investors as a way to raise money. When (or if) that token grows in popularity and appreciates, early investors can pocket a sizeable amount of profits. However, the anticipation of an ICO’s success is always based on speculation, as, so far, there’s no reliable way of telling which company will succeed.
You might have picked up on some aspects that apply to both ICOs and IPOs. While there are indeed some broad-stroke similarities, the differences are more pronounced. In both cases, the investor gets something that’s considered valuable in return for their capital. IPO investors get a stake in the company in the form of shares and also receive dividends. In exchange for their investment, ICO supporters get a certain amount of tokens issued by the company holding the ICO. However, these tokens do not grant them the right to vote or dividends. Instead, it’s a promise that its price will increase and early investors will be able to cash out and rake in significant returns. Tokens also offer other benefits. For example, they can be used to pay for the issuer’s services or can be exchanged to other cryptocurrencies if/when they’re accepted.
A critical difference between an IPO and an ICO is regulation. IPOs are heavily regulated and watched by authorities. Before going public, companies have to satisfy a myriad of requirements and adhere to countless rules, whereas ICOs can be set up and launched in a day or two. At the time of this writing, ICOs are regulations-free events. Additionally, only investors that are deemed to be “sophisticated” (aware of the risks) and meet some basic requirements can take part in an IPO. With ICOs, anyone with an internet connection can invest and retain their anonymity if they want to.
Investing in ICOs and cryptocurrencies, in general, is considered to be riskier than investing in early-stage startups because the cryptocurrency market is extremely volatile. However, the number of investors flocking to ICOs indicates that the potential to generate sky-high returns has a stronger impact on their appetite than possible risks. The exponential growth of bitcoin, which has just crossed the $10,000 mark for the first time, has been a catalyst in the explosion of ICOs and a bubbling interest in the cryptocurrency market. Both seasoned investors and cryptocurrency evangelists are now canvassing the list of upcoming ICOs in the hopes of stumbling across the next bitcoin.
ICO token sales in numbers
How big of a deal are ICOs? Big and getting bigger by the minute.
Coinschedule reports that the total number of ICOs have skyrocketed from 46 in 2016 to 228 (so far) in 2017. That’s an increase of more than 350%! The capital raised through token sales in 2017 have recently pushed over $3.5 billion. The money raised through Initial Coin Offerings (ICOs) has surpassed the early stage VC funding for internet companies in August ‘17.
Aadhi Manivannan has summarised the fundamentals of the token sale market from April 2013 to March 2017 quite neatly:
The market cap of the token market has increased from roughly $2B to $23B in 4 years. That’s an increase of ~13x. Net new tokens created annually has levelled off at ~270 per year, but 2017 is trending towards a ~20% increase Y/Y Token returns are more extreme than VC—although nearly 75% of tokens return 0–1x, a whooping 10% of tokens have returned 10x+.
The most successful ICOs have generated insane amounts of money and colossal returns for investors. The top 5 ICO token sales have collectively raised $1.6+ billion. The star ICOs include FileCoin ($250+ million), Tezos ($232 million), EOS ($185 million), Bancor ($153 million), and The DAO ($152 million).
For investors, the biggest gains came from the following ICOs:
A report published in October ‘17 showed that a blind investment in every ICO to date - including those that didn’t reach their target - would have have generated an average return of 1,320% for investors.
Risks and potential gains
According to longtime cryptocurrency bull, Mike Novogratz, the crypto market cap should hit $2 trillion in 2018. Although he suspects there will be a short-time pullback after the last quarter’s incredible rally, Novogratz is confident that the market’s fundamentals are strong: “The whole market cap of all [cryptocurrencies] is $300 billion. That’s nothing. The NASDAQ at its high, in the 1999 bubble, was $6 trillion, and the NASDAQ was a U.S.-led bubble,” he said. Cryptocurrency, on the other hand, is “a global phenomenon,” with the majority of trading volumes concentrated outside of the U.S.”
Investing in cryptocurrencies is a high-risk undertaking. The constant market fluctuations and its unpredictability make it really difficult for long-term investors to muster up the courage to lock their assets for an extended period of time. There are fears the market is a bubble and can take down hundreds of speculators when it tumbles. When it comes to ICOs, besides the possibility of losing your capital (much like with any investment), there’s also the risk of never seeing the project materialise if the team runs into serious technical hurdles. Some ICOs include a clause in their terms requiring investors to accept the risk of project abandonment.
However, as the success stories demonstrate, the potential returns are enormous. Once the token gains traction, it becomes incredibly simple and fast to cash out your profits. And we’ve seen many times already that cryptocurrencies can appreciate in value in a matter of days. Additionally, ICOs give anyone a chance to bite into the opportunity. Unlike venture financing, ICOs allow anyone in any geography to raise or give money. Someone has cleverly nicknamed ICOs as ”Kickstarter on steroids”.
How to pick an ICO token sale for your investment?
We have recently published a 10-question checklist that can help you reveal the true potential of a new ICO as well as shared some sound advice on picking out the right ICO. We’re not going to lie to you -- if you want to get to the bottom of this new hysteria, you’ll need to spend some time reading and soaking up the knowledge. Here’s our summary of the most important factors to consider before investing in an ICO.
Is there a product demand? Not every business idea deserves to be brought to life. The ICO craze has given the stage to a number of projects that are products of imagination, not market research. For you to earn a handsome profit on your investment, the company needs to achieve mass adoption and appreciate in value. And it will never happen if the company’s offering is irrelevant.
Is there a sound business model? Never overlook the fundamental investment principles. If the project doesn’t have a plan how they will generate revenue, it should be a no-go. Choosing companies with a proof of concept and an established track record (and revenue sources) is always less risky than betting on a product that hasn’t been monetised yet.
Does the team have solid experience with blockchain technology? What are their credentials and track record?
Is the whitepaper coherent, clear and compelling? Is it based on actual research and scientific data or scandalous media?
What’s the token structure like? How are you getting your money back?
Also, check our article on How to drill down into the 6 core elements that make great ICOs?
Fast Invest ICO (December 4th, 2017 - January 31st, 2018)
We believe the decentralized blockchain technology will transform the fintech industry and the internet forever. While it sounds like a soundbite from a sci-fi movie, it’s really a not so distant future. We plan to expand our platform’s infrastructure on the decentralized Ethereum blockchain technology to offer a full scope of daily financial instruments and create an intuitive and straightforward alternative to our daily banking habits (less the typical bureaucracy).
If you want to claim your seat at the table, support us during our ICO and we will offer you a premium access to a crypto-wealth management platform in return. Cryptocurrencies are here to stay, so let’s make the best out of them.
submitted by FASTINVEST_COM to u/FASTINVEST_COM [link] [comments]

Should Christians invest in Cryptocurrency? Here are my thoughts on why I believe we should.

Hi all. As you can see with my user name I am interested in this new currency: Bitcoin specifically. My husband, a software developer, told me about it in 2012 and we finally purchased a very small amount in 2013. We honestly prayed about it and felt led to invest only what we could afford to lose. Initially our investment was amazingly successful, it rose from $49 a Bitcoin when we first purchased a few to over $1200 per Bitcoin. It is incredibly volatile and has dropped back down to about $250 as of this morning. It has been in decline for a couple of years.
All that said, the reason I would love for more Christians to consider this and pray about it is because of a few things. First, I believe the Bible to be true. I trust God's word from the beginning to the end. I find it remarkable that John, when writing Revelation, even had a concept of a future "mark to buy and sell." We can certainly see how even our products have marks on them to buy and sell already. So the Bible is giving us some information that should at least help us understand what direction the world is going and a "one world currency" seems closer than ever.
Christians might say that we should stay away from anything that dares look like this currency, but we stayed away from movies and TV in the beginning and how did that help? For those of you that are not familiar with Bitcoin, one of the intrinsic values in it is the fact that it isn't owned by an government or entity. It is essentially "borderless." We are not bowing to anyone by having these. Granted, I believe the success of Bitcoin down the road could very well usher in a need to control the masses, hence the need to try and force people to get a mark on their hands or foreheads for tracking spending later, but for now Bitcoin is not the problem. If more Christians own these, and the value increases to the amount some speculate, that will put some power and ability to help with a pending economic collapse into hands that have compassion for the world and want to further the gospel message. It isn't wealth we are seeking as much as the ability to minister to others in a great time of need.
If we look at the story of Joseph and how the Lord gave him great wisdom about storing grain so that Joseph was able to help others in the time of famine, I ask you to pray and see if this isn't something God would desire for us to do. Not that we need to put any great amount into it (I say one coin at $250 would even be a great thing to hold because there is only a limited supply to ever be created up to a total amount of 21 million).
Something to think and pray about.
submitted by BitChick to Christianity [link] [comments]

Subreddit Stats: dogecoin posts from 2018-02-14 to 2018-02-25 05:03 PDT

Period: 10.43 days
Submissions Comments
Total 930 10508
Rate (per day) 89.15 919.96
Unique Redditors 545 1979
Combined Score 33184 19844

Top Submitters' Top Submissions

  1. 3379 points, 6 submissions: DogeSavior
    1. Dogecoin mining, 2013 (RARE FOOTAGE) (2910 points, 275 comments)
    2. When someone spreads FUD about Dogecoin (177 points, 73 comments)
    3. Volatility? (128 points, 53 comments)
    4. When you tip someone but they are not registered (117 points, 157 comments)
    5. cat surprised by Dogecoin (40 points, 5 comments)
    6. 2018 - The year of the Doge (7 points, 6 comments)
  2. 2999 points, 22 submissions: PeGeN
    1. When you get ready to rob a bank, so you have money to buy Dogecoins (658 points, 26 comments)
    2. When you had a hard day hodling (530 points, 14 comments)
    3. Learning everything about Dogecoins (475 points, 62 comments)
    4. How new members get born (261 points, 76 comments)
    5. A pic from the greatest community of all time (174 points, 6 comments)
    6. How I react when I get a dogecointip (171 points, 56 comments)
    7. Can't see the haters, 1 Doge = 1 Doge (141 points, 16 comments)
    8. Waiting for some Dogecointips (95 points, 18 comments)
    9. Trying to stay over 0.005€ (85 points, 8 comments)
    10. When you got a bunch of Dogecointips (73 points, 13 comments)
  3. 2710 points, 21 submissions: RaphizFR
    1. When you wake up and that Doge is on the moon (840 points, 43 comments)
    2. DOGETHEREUM !!! (421 points, 41 comments)
    3. It scares me (241 points, 7 comments)
    4. Portal Doge (175 points, 8 comments)
    5. Such beautiful ! (163 points, 13 comments)
    6. To celebrate the Doge year I bought Dogenuts, yummy! (149 points, 9 comments)
    7. Dogue One : A STAR WARS movie (136 points, 15 comments)
    8. THE DOGE BIRD OF SHIBE !!! WOW (119 points, 122 comments)
    9. Such a great movie!!! (90 points, 5 comments)
    10. DOGE Charger !!! Much Fast !!! (68 points, 11 comments)
  4. 1161 points, 17 submissions: EnriqueK
    1. Aim to become a dogillionaire (684 points, 80 comments)
    2. very Future such Truth #DogeOnMoon (151 points, 25 comments)
    3. Emma Watson The Shibe (111 points, 12 comments)
    4. Me, When all altes are going down but... (90 points, 9 comments)
    5. DOGEwear - Stage 2 Newsletter | 2nd campaign is Live | Tip - Check Comments (23 points, 40 comments)
    6. Paving the way for 2030, as said by arsonbunny (21 points, 6 comments)
    7. Why DOGE will beat all alts and BTC (16 points, 3 comments)
    8. DogeWear crosses Minimum Order Requirements (15 points, 4 comments)
    9. 1 Ð = $0.007159 USD (8.75% UP) | Good Morning Shibes.. It's a Doge Day (13 points, 4 comments)
    10. DogeCoin Merch TShirt Campaign ends in 50 minutes. (8 points, 8 comments)
  5. 1147 points, 5 submissions: thedogelegend27
    1. Forever 1D = 1D (640 points, 50 comments)
    2. Also the best community around (249 points, 10 comments)
    3. So this is what it would look like to hit the jackpot (156 points, 55 comments)
    4. Tipping post!!! Celebrating my 20th day using dogecoin and reddit! I managed to get a total of 1606 karma and made a few doge and I’m giving them away today! Don’t have much to give away but the first people to comment will definitely get some! And if you have doge to give, get in on this giveaway! (77 points, 182 comments)
    5. Made this totem for a music festival lol it glows in the dark and has led lights all over it lol look at all of the Kandi bracelets they gave this doge :) so many people loved it! I’m thinking of making another one for my next event lol any suggestions? (25 points, 15 comments)
  6. 813 points, 6 submissions: pingucat
    1. 4K Year of the Doge Wallpaper (643 points, 57 comments)
    2. Sometimes all you have to do is ask (86 points, 9 comments)
    3. happy doge year, shibes!!! (54 points, 37 comments)
    4. I'm having a doge party tonight (19 points, 6 comments)
    5. Los Angeles: Year of the Doge Party - Feb 23 (7 points, 6 comments)
    6. I wrote this for a friend who wanted to figure out how to buy doge — Steemit (4 points, 5 comments)
  7. 772 points, 12 submissions: KekistanMemeCorps
    1. Let's start a meme economy with dogecoin. How do we do this? (729 points, 56 comments)
    2. DANK MEME INCOMING (16 points, 2 comments)
    3. What do you even use dogecoins for? (8 points, 15 comments)
    4. Meme contractor here (5 points, 9 comments)
    5. Any way we can bring Dogeparty back from the dead? Why did it die in the first place? I think it'd bring a lot of people to Dogecoin because Counterparty, the BTC alternative, has these ridiculous fees. (4 points, 9 comments)
    6. Dogecoin Projects? (4 points, 0 comments)
    7. Are there any portfolios that let you track your investments in Dogecoin? I know Gravychain is one of them. What else? (2 points, 3 comments)
    8. How and/or where do I work for dogecoin? (2 points, 1 comment)
    9. Hey I'll make you a meme for 10 doge apiece. Just follow this link: (1 point, 0 comments)
    10. What is the best dogecoin wallet? (1 point, 9 comments)
  8. 758 points, 1 submission: iwearahoodie
    1. Very comparison (758 points, 40 comments)
  9. 665 points, 2 submissions: ManEaterBug94
    1. How Dogecoin Blockchain works (630 points, 31 comments)
    2. That's how I feel right now. Much value, many moon! (35 points, 1 comment)
  10. 494 points, 2 submissions: btnt8888
    1. Year of Doge (480 points, 29 comments)
    2. I would like to thank Dogecoin... (14 points, 4 comments)
  11. 490 points, 1 submission: Dokie69
    1. Meanwhile in 2020 (490 points, 20 comments)
  12. 481 points, 2 submissions: alenathomasfc
    1. DOGE price since past 7 days (464 points, 23 comments)
    2. Who said the DOGE is a parody coin? (17 points, 6 comments)
  13. 448 points, 8 submissions: Masaki_One
    1. When 1 DOGE = 1 BEER 👀👉🍺 (146 points, 15 comments)
    2. When you tell a Shibe DOGE hit 80 sats 👀✌️ (77 points, 4 comments)
    3. 1 DOGE = 1 DOGE 🐶 (69 points, 9 comments)
    4. Have A great weekend Shibes! ✨💛 (63 points, 25 comments)
    5. When DOGE trades sideways (luckily 1 DOGE = 1 DOGE) (46 points, 2 comments)
    6. DOGE 1.14 new tricks 😜 (32 points, 2 comments)
    7. Young Shibe waiting for 1st Sodogetip 🐶 (12 points, 13 comments)
    8. DOGE used in Investment Conferences 👀👍 (3 points, 3 comments)
  14. 428 points, 1 submission: AndrewWhalan
    1. I made a 9000 LED panel and thought I'd get it out to remind people of the year given I live near a Chinese New Year event! (428 points, 62 comments)
  15. 406 points, 6 submissions: CEO_OF_DOGECOIN
    1. The launch of Dogecoin (pineapple for scale) (180 points, 47 comments)
    2. Looking for better coins than Doge... (86 points, 14 comments)
    3. 372 ETH ($353,500) paid to the team to who built the foundations of the DOGE-ETH bridge! (69 points, 18 comments)
    4. Dogecoin Is Helping Ethereum Solve Its Biggest Issue (55 points, 11 comments)
    5. Robinhood didnt choose the Doge life, the Doge life chose Robinhood. (8 points, 0 comments)
    6. mrw cats start preaching to me about catecoin (8 points, 19 comments)
  16. 387 points, 1 submission: zgysun1985
    1. Tomorrow is the Chinese New Year for the year of Doge. Wish everyone a prosperous year ahead (387 points, 28 comments)
  17. 380 points, 13 submissions: uoy___kcuf
    1. Best analyst ever! 🐶🐶 (146 points, 2 comments)
    2. I can finally mine Dogecoins (79 points, 7 comments)
    3. How people think Dogecoins are mined. (59 points, 10 comments)
    4. 2018 year of the Doge (44 points, 3 comments)
    5. Me chasing after DOGECOINS! (13 points, 0 comments)
    6. DOGEcoin has hit an All-Time high. (10 points, 0 comments)
    7. I was asking myself as to how long before Dogecoin reaches the moon but the real Question should be 'what is the moon'? (6 points, 7 comments)
    8. Someone just tipped me 20 doge and i registered my account with bot and have an address but dont know how to recive coin in them. Help? (6 points, 15 comments)
    9. To The MOOOON!!! (5 points, 0 comments)
    10. Mods should change the sidebar because Dogecoin's price has gone up and hit an all time high. (4 points, 9 comments)
  18. 351 points, 3 submissions: CypressBreeze
    1. We gotta get DOGE on the Ellen show!!! (341 points, 30 comments)
    2. It's pronounced like "doggie", right? (8 points, 17 comments)
    3. We need to get Ellen to talk about Doge!!! Baby Shibe's are even better than baby goats!!! (2 points, 8 comments)
  19. 344 points, 5 submissions: Buckledmayank
    1. You Guys May Have Millions Of Doge But I Also Got 30 Dogecoins For Tip In The Comments🙂 (306 points, 64 comments)
    2. After DogeCoin Price Drop 4.35% (22 points, 8 comments)
    3. Stay Away From Bitdoggy (13 points, 8 comments)
    4. How Can We Exchange Some Dogecoins Fir Litedoge? ( i Am New ) (2 points, 6 comments)
    5. I Know A Interest Site Which Gives 5% Every Day For 20 Days (1 point, 18 comments)
  20. 335 points, 4 submissions: ApostolicElevator
    1. When some new shibe is overly excited and wants to become a dogellionaire at once but a veteran tells them how things work (260 points, 25 comments)
    2. Such art, many kindness! (37 points, 33 comments)
    3. Who wants a bit of DOGE? (24 points, 33 comments)
    4. [SMALL GIVEAWAY] Hey there shibes, I've got some DOGE to share! (14 points, 97 comments)
  21. 284 points, 1 submission: ImmortalAndroid
    1. Year of the Doge coins have been released by the shibe mint! (284 points, 39 comments)
  22. 263 points, 3 submissions: AVFC_SAM
    1. just one more doge. (249 points, 26 comments)
    2. Roses are red, shibes are thirsty, (8 points, 5 comments)
    3. To dA mOoN (6 points, 2 comments)
  23. 257 points, 8 submissions: KodaKodama
    1. Good morning Shibes. May today be a much wow prosperous one. :) (114 points, 6 comments)
    2. TO DA MOON! (76 points, 21 comments)
    3. Prices dip I ACTIVATE MY TRAP CARD! (53 points, 5 comments)
    4. Shibe in need of morale support. (not beg) (4 points, 3 comments)
    5. Coinpot app not working? (3 points, 3 comments)
    6. Withdrawal not working? (3 points, 5 comments)
    7. What would happen if we all stopped mining? (2 points, 4 comments)
    8. When is the best time to buy/sell? (2 points, 10 comments)
  24. 243 points, 7 submissions: tocuco
    1. 🚀🌚🐕🐕🐕🐕🐕 (171 points, 9 comments)
    2. 🚀🌚🐕 (29 points, 9 comments)
    3. when you get some sodogetip 🚀🌚🐕 (14 points, 0 comments)
    4. 🚀🌚🐕 (10 points, 1 comment)
    5. 🚀🌚🐕 (9 points, 1 comment)
    6. 🚀🌚🐕 (8 points, 1 comment)
    7. 🚀🌚🐕 (2 points, 1 comment)
  25. 233 points, 3 submissions: javaxnerd
    1. This is what happens when you send DOGE to shapeshift and the other currency doesn't work and your DOGE gets sent back (113 points, 20 comments)
    2. I decided to improve the Paris Bitcoin grafitti (64 points, 4 comments)
    3. I just checked the price of DOGE! WOW (56 points, 8 comments)
  26. 228 points, 2 submissions: billionappl
    1. 新年快樂 (196 points, 23 comments)
    2. 新年快樂 comic sans ms !!! (32 points, 6 comments)
  27. 223 points, 1 submission: ahumanbeingx
    1. The year is 2049. Doge is the global currency reserve. 1D still = 1D (223 points, 15 comments)
  28. 220 points, 2 submissions: Jxrretts
    1. Left 4 Doge (169 points, 27 comments)
    2. Much confused Such interesting Credit: Twitter @shiba_syotaro (51 points, 11 comments)
  29. 219 points, 2 submissions: TemplarSpace
    1. When you check out dogecoin for the first time and it doesn't bite (152 points, 8 comments)
    2. When universe.exe fails and 1D becomes 2D (67 points, 10 comments)
  30. 199 points, 3 submissions: charryw
    1. When dogecoin is rising and becomes a temptation (143 points, 24 comments)
    2. How it feels during a dogecoin dip (55 points, 5 comments)
    3. [Giveaway] We provide software solutions and are looking for partners to build new startups together! (1 point, 49 comments)
  31. 197 points, 3 submissions: mysnplysn
    1. Scientist shibe demonstrates 1 DOGE = 1 DOGE (133 points, 13 comments)
    2. shibe nervously checking dogecoin price (55 points, 6 comments)
    3. Shibe after finding out that 1D = 1D (9 points, 2 comments)
  32. 193 points, 3 submissions: LorenzoLighthammer
    1. Classic meme, boys (130 points, 16 comments)
    2. It sometimes takes a little push (56 points, 3 comments)
    3. Bark like a dog... No no a Bigger dog! (7 points, 3 comments)

Top Commenters

  1. sodogetip (1519 points, 1233 comments)
  2. DogeSavior (995 points, 524 comments)
  3. Fulvio55 (564 points, 297 comments)
  4. CrispinGarcia (411 points, 57 comments)
  5. killerjoegreece1 (323 points, 191 comments)
  6. ImProdactyl (312 points, 134 comments)
  7. ZCham (298 points, 154 comments)
  8. nakedfish85 (235 points, 95 comments)
  9. CryptoDann (229 points, 78 comments)
  10. Stellar_Stream (220 points, 146 comments)
  11. EnriqueK (196 points, 101 comments)
  12. yottalogical (177 points, 134 comments)
  13. pingucat (163 points, 80 comments)
  14. Sebmellen (142 points, 87 comments)
  15. GaryLittlemore (135 points, 106 comments)
  16. Impys (125 points, 56 comments)
  17. Cat-Man-Dolittle (125 points, 24 comments)
  18. only1allowed (121 points, 61 comments)
  19. thedogelegend27 (117 points, 51 comments)
  20. CEO_OF_DOGECOIN (113 points, 41 comments)
  21. bbgun86 (113 points, 36 comments)
  22. Accountingdream (111 points, 63 comments)
  23. thelinguist245 (105 points, 19 comments)
  24. 21020humbleworkhorse (101 points, 55 comments)
  25. AndrewWhalan (101 points, 21 comments)
  26. SourSpud (98 points, 33 comments)
  27. Megatecno (96 points, 40 comments)
  28. DatatagMC (94 points, 39 comments)
  29. Crypto_Media_Service (93 points, 11 comments)
  30. latviajoker (92 points, 45 comments)
  31. have-a-good-one (88 points, 54 comments)
  32. PeGeN (87 points, 63 comments)

Top Submissions

  1. Dogecoin mining, 2013 (RARE FOOTAGE) by DogeSavior (2910 points, 275 comments)
  2. When you wake up and that Doge is on the moon by RaphizFR (840 points, 43 comments)
  3. Very comparison by iwearahoodie (758 points, 40 comments)
  4. Let's start a meme economy with dogecoin. How do we do this? by KekistanMemeCorps (729 points, 56 comments)
  5. Aim to become a dogillionaire by EnriqueK (684 points, 80 comments)
  6. When you get ready to rob a bank, so you have money to buy Dogecoins by PeGeN (658 points, 26 comments)
  7. 4K Year of the Doge Wallpaper by pingucat (643 points, 57 comments)
  8. Forever 1D = 1D by thedogelegend27 (640 points, 50 comments)
  9. How Dogecoin Blockchain works by ManEaterBug94 (630 points, 31 comments)
  10. When you had a hard day hodling by PeGeN (530 points, 14 comments)

Top Comments

  1. 258 points: CrispinGarcia's comment in Dogecoin mining, 2013 (RARE FOOTAGE)
  2. 74 points: thelinguist245's comment in When you wake up and that Doge is on the moon
  3. 68 points: Cat-Man-Dolittle's comment in Very comparison
  4. 59 points: DogeSavior's comment in Dogecoin mining, 2013 (RARE FOOTAGE)
  5. 57 points: Crypto_Media_Service's comment in So how is this community so friendly all the time?
  6. 52 points: deathsitcom's comment in When you wake up and that Doge is on the moon
  7. 48 points: CryptoDann's comment in Let's start a meme economy with dogecoin. How do we do this?
  8. 41 points: Megatecno's comment in DOGECOIN HITS $0.007
  9. 40 points: latviajoker's comment in You Guys May Have Millions Of Doge But I Also Got 30 Dogecoins For Tip In The Comments🙂
  10. 39 points: Gmk44's comment in DOGETHEREUM !!!
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Why I believe Christians should consider owning cryptocurrency.

Hi all. As you can see with my user name I am interested in this new currency: Bitcoin specifically. My husband, a software developer, told me about it in 2012 and we finally purchased a very small amount in 2013. We honestly prayed about it and felt led to invest only what we could afford to lose. Initially our investment was amazingly successful, it rose from $49 a Bitcoin when we first purchased a few to over $1200 per Bitcoin. It is incredibly volatile and has dropped back down to about $250 as of this morning. It has been in decline for a couple of years.
All that said, the reason I would love for more Christians to consider this and pray about it is because of a few things. First, I believe the Bible to be true. I trust God's word from the beginning to the end. I find it remarkable that John, when writing Revelation, even had a concept of needed a "mark to buy and sell." We can certainly see how even our products have marks on them to buy and sell already. So the Bible is giving us some information that should at least help us understand what direction the world is going and a "one world currency" seems closer than ever.
Christians might say that we should stay away from anything that dares look like this currency, but we stayed away from movies and TV in the beginning and how did that help? For those of you that are not familiar with Bitcoin, one of the intrinsic values in it is the fact that it isn't owned by an government or entity. It is essentially "borderless." We are not bowing to anyone by having these. Granted, I believe the success of Bitcoin down the road could very well usher in a need to control the masses, hence the need to try and force people to get a mark on their hands or foreheads for tracking spending later, but for now Bitcoin is not the problem. If more Christians own these, and the value increases to the amount some speculate, that will put some power and ability to help with a pending economic collapse into hands that have compassion for the world and want to further the gospel message. It isn't wealth we are seeking as much as the ability to minister to others in a great time of need.
If we look at the story of Joseph and how the Lord gave him great wisdom about storing grain so that Joseph was able to help others in the time of famine, I ask you to pray and see if this isn't something God would desire for us to do. Not that we need to put any great amount into it (I say one coin at $250 would even be a great thing to hold because there is only a limited supply to ever be created up to a total amount of 21 million).
Something to think and pray about.
submitted by BitChick to TrueChristian [link] [comments]

[Request] Hi, I'm making an animation that explains the Bitcoin Network. Male or female, any age. I'll PM you the video link.

I guess I'm looking for someone to sound like an interesting science teacher, or an interesting TED talk. Ya know?
But I'm not looking for a nutty professor, or the guy who wheres the question mark suit and tells you how to get government money.
I'd like to get people excited, but in a measured way. I try to do this with the script.
startup-videos this place has some new videos that are tech oriented and kind of where I'm going with this.
As for payment, I have a some Bitcoins to dole out. Reddit has this really cool bot that automatically creates an address for you which is easy to receive Bitcoins. And fun too.
Oh and, I plan on putting my BTC address on the video in Youtube, so any BTC I get from the video I'll share some with you (I think I might get a couple). Other than that, this is a project I'm doing for myself to start my animation portfolio.
What I will send you isn't finished yet, there are two or three sequences that aren't in there, which I'm working on tonight. But you should be able to get the idea.
If you have no clue what bit coin is... Read the script! Any questions just let me know. BTW, I know its a lot. So take a look at the video and see if it increases your interest.
So you want to know Bitcoin?
Well, Bitcoin is a Network.
People in the network use Bitcoins to trade, instead of Dollars.
Bitcoin is pretty new, and everything is digital, so people are sceptical about the idea.
But it’s showing signs of being a surprisingly resilient currency.
The value has more than doubled since the start of 2013, and every day more companies are accepting Bitcoins.
At the heart of Bitcoin is something called the Block Chain.
This is where people start to get lost. So we’ll try to break it down.
[Note: this part in the video really slows down so people can focus on the concepts, I'm thinking this part is almost like a children's book]
This is a block.
Blocks are like hard drives. They store Bitcoin data
All of it
All of the blocks are in order.
These blocks are written.
These blocks aren’t written yet.
The new blocks are worth 25 Bitcoins
But they are locked with passwords.
That’s where Bitcoin Miners come in.
They use fast computers to figure out the next password.
The first miner to find the password gets the 25 Bitcoins.
[Note: this is were the "children's book" part will end]
So that’s the Blockchain. It’s where all the data is stored and where the new Bitcoins come from.
The thing about Bitcoin mining is that people were able to use their desktops a few years ago. Now, because of the competition, specialized computers will soon make their way onto the Blockchain and disrupt the way things were done.
The whole process is actually a very precise way of adding coins to the network, about 25 bitcoins every ten minutes.
Bitcoin started back in 2009 and was essentially worthless.
But in 2011 the price spiked up to 30 dollars, and then quickly fell back down.
Since the start of this year, one Bitcoin went from 15 Dollars to 40 by March.
The excitement seems to have caught on as Reddit, Wordpress, Namecheap, and now KimDotCom have all thrown support behind it.
Every new company that supports the Bitcoin Network is justification for the price increase.
But it’s very very important to know the Network is still volatile, sudden moves up or down could happen at any time.
That’s because the Network is still relatively small compared to the larger world economy.
It’s total worth is still about as much as one successful Hollywood movie.
And the value of major companies, like Apple or Exxon is around 400 Billion dollars.
So any Wall Street investor could very easily treat the whole Network like a play toy.
The big question right now is where is this all going to end up?
Will Bitcoin ever really catch on? Will the process of joining ever be easy?
Do people really need this?
If you want more videos about the Bitcoin Network, Subscribe to this channel.
Not sure about the ending. Also, if you need to riff a little bit to fit your style go for it. Thanks for reading, I put a decent amount of time into this, and hope to finish it by Friday.
Thanks, Recordthis!
(sorry mods, I think my first post got spam blocked. I can't find it, So I'm not using my new username.)
submitted by yepthatsme to recordthis [link] [comments]

[Table] IAmA: I am James Altucher, founder of 20 companies (17 of which failed), author of 11 books, and writer. I’ve made millions, lost it all, made it back, and written about everything I’ve learned along the way. AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-06-06
Link to submission (Has self-text)
Link to my post
Questions Answers
Does money actually get you a lot of girls? I hate to say it: but yes it does.
You said you blew all your money on "expensive toys, trips, and bad ideas" What was the WORST idea? 1) Buying a house. People always forget: a.) a house is an illiquid investment so you cant get your money back when you need it most b) there's millions of hidden costs when you buy a house c) the bank owns your house. not you. When you sell your soul to a bank, you reap what you sow. d) "choosing yourself" requires freedom. the white picket fence becomes a prison bar.
2) I put $2mm into a wireless device company that didn't work out. But in general I kept doubling down everywhere because it wasn't any one bad investment but a psychology that I needed MORE to be happy. Choosing Yourself requires a philosophy that LESS actually creates abundance in life.
If you have 15 million can't you just buy the entire house instead of taking out a mortgage, thus making so the bank doesn't own it? Sure. That's a different story. Thats less than 1% of people. But even then, you can rent fantastic places then, keep most of your cash, and be able to move whenever you want. I choose freedom!
On the flip side what is the best thing you used your money to buy and the most fun thing? The best thing I ever did with my money was just keep it in cash. Cash in the bank lets me know i can watch the river in the morning and not worry about money. Money doesn't solve all your problems but it solves your money problems.
More important to buy memories than materials.
I'm starting to realize that when you focus on how little money you have that you are never happy because you always think you need more. If you respect the money you DO have then it will respect you. Very true. Not only that, if you focus on building rather than spending, the money respects you even more. If you give, you buid.
But to give, you must be healthy. You must clean out all the pipes in the way I describe in the book.
With that Rationale, we should all rent? I mean, what about the Equity gained when buying a home? What about people that own their home outright? The equity is very minimal. The average american flips their house every five years. And you are forgetting all the property taxes and maintenance that eat away at that equity.
If you believe in housing as an investment, buy a diversified REIT on the stock market.
If you want real equity that can go up in value, take the downpaymenbt you would've made, rent a house, and start a business. Opportunity profit is much better and you will build real equity.
I am asking why you specifically did not buy the house outright when you would appear to have easily had the funds to do so. I think no matter how you buy a house, cash or leverage, its a bad investment. Sometimes using all cash is even worse than using leverage, depending on interest rates.I could've bought the whole house outright. But then I would've gone bankrupt faster and run out of money. Particularly when the housing market would've prevented me from pulling money out of the house.
Never have a good chunk of your portfolio in an illiquid investment. Cash is king.
What is your advice for someone who is a successful consultant but isn't bringing in the big money? Your best new customers are your current customers.
Get a waiters paid.
Go to a cafe with the pad.
At the top of each page put the name of a current customer. Write down 10 - 15 ideas of additional services you can provide each customer. Even if it has nothing to do with your current biz.
Then offer those services. Be more and more indispensable. This will generate more loyaly, more money, and word of mouth will get you new customers.
Do you have any tips for someone going into the business world? What type of degrees would be nice, what colleges in the country are nice, etc? I heard the business world was tough but very rewarding. Please share how early life was for you when you were starting up. Forget everything in your question. Forget these words: "business world" , "degrees", "colleges", "tough".
Here's what you do: every day try to figure out ten ideas that will create value for people. You need to build the idea muscle or it atrophies like any other muscle. School doesn't do that. School atrophies your brain.
Don't expect your ideas to be good. After about six months they will start ot be good. Become an idea machine. help people. Eventually charge people to help them. Now you are in business. Take a fulltime job so you can get paid while you are building your idea muscle.
Introduce 2-10 people a day to each other who you think can help each other. Build out your network this way. Deliver value.
That is your schooling. Nothing else will ever work.
I hate people and generally want to set them on fire. Otherwise, this seems like valuable advice. Fair enough. But find the people you don't hate and figure out what they need. I hate a lot of people also. So here's what I do: i never see them. They dont exist for me.
What was your biggest failure? Success? I've had many failures. The biggest. Was probably losing $1mm a week one summer CASH, in the stock market and other investments and spending. Until I was dead broke, begging for money from my parents, losing my house, my family, everything. I had to make it back from scratch.
My biggest success was finally figuring out what got me back each time I failed. Having a philosophy of physical, emotional, mental, and spiritual health which I am happy to explain further. I was on the floor putting craigslists ads up for simple human contact while I felt the whole world was against me. Getting up off the floor and not killing myself was my biggest success.
Financially I've sold companies for 8 digit figures but I don't consider those successes but a natural outcome of being internally healthy. It happens so fast its like magic.
To be going from millions to begging your parents for cash is pretty damn low. Fuck. Then they refused to lend it to me. So I hung up and didn't speak to them. Then six months later I still hadn't spoken to them. My dad had a stroke and died. That didn't feel too good to me.
Can you explain, in a nutshell, how to go about becoming internally healthy? I feel I'm on the bottom right now and really want to get out. Yes. i call it "the daily practice" but really its my practice. What works for you might be different. In the book I also describe a "simple daily practice" to ease into it.
I eat well - i sleep well. I used to never sleep. Sleeping is the key to ALL health - i dont drink. Drinking is a depressant and has a lot of sugar. - i only engage with positive people. Even on this AMA i don't engage with people trying to bring me down. NEVER. - i read every day. 2 hours. Books. not web. - i write 10 ideas a day. Doesn't matter what kind of ideas. The key is to get the idea muscle going. - I am every day grateful. if i start to slip into thinking about scarcity, i change to think about abundance. It is such a pleasure to do this.
Do all of the above for six months. I guarantee its like magic what happens then. Please try it. I dont care if you buy my book or not. Try the above.
How did you come to terms with that? I never came to terms with it. When I wake up, i dont think about it. I think: what can I do to help people today. Yesterday is over.
Remarkably similar to what a tibetan yogi told me one time. Except he added yoga to the list. Yoga is good. Worth noting that in "the yoga sutras" which is the main text for yoga, the physical part of yoga takes up only 1.5% of the entire text. The other 98.5% of the yoga sutras is about how to clean out all aspects of your life, not just the stretching of muscles.
That's rough. I hope you eventually come to terms with it. How about your mom? How's your relationship with her? I think thats key. To let your kids know that disciplining is just about setting boundaries. Not about love or hate.
As a parent you've given me lots to think about, like letting my kids know that my disciplining them or refusing them something doesn't mean I cut them out and they're always welcomed back. Also, will be teaching them to pull their own weight. One thing I listened to a few weeks ago was a talk by Jim Sheils about scheduling "board meetings" with your kids. Google him. It was very valuable info to me.
James - how do I get rid of jealousy and envy in my life? I can't force myself to learn how to code - it doesn't interest me at all - but I feel like a low life for not getting my shit together and just learning it... But it's like pulling teeth. I hate it. I sleep 8 hours a day - i dont drink - i dont eat junk food. junk food has jealousy in it, as weird as that sounds. - i NEVER gossip - i read books. I write down ten ideas a day - i am always grateful for everything in my life. If you do these things, what i call "the simple daily practice" in my book, then you wont have room for jealousy and envy. Another thing is to note (NOTE!) when these feelings arise and try to replace them with gratitude.
i dont eat junk food. junk food has jealousy in it, as weird as that sounds. Try this experiment. Eat a bag of Doritos RIGHT NOW. Then go to the gym. Take notes on what you are feeling. Then report back here.
Would you give an example of what ten ideas should look like to me. Ok, ten ideas for a business right now off the top of my head: A) set up your local businesses with FB fan pages and campaigns on how ot use them. Charge a small monthly fee. B) Write a $1000 course on how to get rid of all your student loan debt C) Make a job site for local temp staffing. Nobody has done this D) Use twitter data for predictions like box office revs and charge the movie companies, record labels, etc. Or political data. You can find twitter data that correlates with election results. E) the smart toilet - the toilet collects your urine, analyzes it using licensed tests, and sends you an SMS with the results (good for cancer analysis, diabetes, etc) F) take the top 100 public domain books and add "with Vampires" at the end. Slightly rewrite them all. Republish them on Amazon G) create a search engine of all shared economy sites. H) make an uber for private jets I) make a stock exchange for books. bestselling authors IPO the books they are working on so you can get a piece of the royalties and they can get more cash up front J) smart refrigerator: knows when you are running low on critical items (eggs) and orders them automatically to be delivered.
Some of the above are bad. Some maybe ok. Who knows. The key is to exercise the idea muscle until your brain sweats. Every day.
What is one thing kids in this country need to know and to learn? How to fail. We reward kids who get As in school. This is horrible. Kids need to know how to get a C- and what it means and how to learn from it.
Second, most kids have no clue how to sell an idea. How to communicate. Creativity is not nourished.
How do you come back from the failure? When you have $143 how did you get traction and financing for the next company? Coming back means "delivering so much value for others that they pay me or deliver value back to me in some way".
In that particular instance (the #143) instance I had to basically sell all my posessions to get a little bit of money. Then I wrote software to model the stock market. Then I used my software to write articles that I got paid for by financial sites and other hedge fund managers wanted me (my software) to manage their money and they paid me for it and it worked out well.
But it took a good six months or more of no drinking, eating well, sleeping well, ELIMINATE all negative people. (I'm going to say that again: ELIMINATE all negative people from your life. Do not engage with them at all while you are trying to survive), building your idea muscle, and being grateful for the abundance that is always huge in your life.
Then expect to build. I tell people if you do the above your life changes in six months. It does. Its magic what happens but jump on every opportunity.
ELIMINATE all negative people. I'm going to say that again: ELIMINATE all negative people. By "Eliminate" I simply mean, "Don't engage". They will always try to engage you. And your brain will want to engage back. It's fun. It's sport. But don't do it.
Well, that escalated dramatically.. Btw, its not the neighbor across town. its the colleage, the family menber, the "friend", etc. that could be the most negative in your life.
Where is the legal profession heading and what is the best idea to profit from it? Lawyers are glorified secretaries who try to scare you into paying them high fees.
A) never use lawyers. be your own lawyer. B) create more sites like legalzoom. Look at that site and see what you can improve. Create sites that are like "quora for lawyers". C) study bitcoin. Bitcoin is NOT a currency. It's actually a digital replacement for contract law. Study how bitcoin can be used for everything from wills to escrow agreements, etc. Make a business out of that.
I've taken a very low paying job to start making ends meet. I have taken out several personal loans while I downgrade my apartment and everything else in my life that costs more than the bare minimum. Its very simple but I've seen it in action. If you follow it for six months it will change your life. You will choose yourself for success and nobody can get in the way. Please let me know how it goes. BUt light your own fire first.
What were the first steps you made toward getting your life back together? What about professionally? I never imagined that I'd be in this position, and I feel wholly incapable of rebuilding. The first steps I had to make (and then the first steps i made the nxt time i succeeded and then failed, and then,...) was to light my own fire first. I am talking a lot about this in this AMA but its the answer, and the only answer that worked for me. I called it "the daily practice". I describe it in the book, "Choose Yourself". I offer to pay people back after they read the book because I believe so strongly it can help you.
Also, what's your opinion regarding B2B vs. B2C businesses? I've heard that B2B startups have a higher success rate and higher average exit valuation compared to B2C startups. But figuring out what other businesses need or have problems with is harder than coming up with consumer ideas. Thanks! B2B has higher success rate because you can actually get customers who will pay you right out the gate. Focus on that. B2C is a crap shoot. Note the great example of Mark Cuban. First he sold a B2B software co for $10mm. THEN he started a B2C site he sold for billions. Also, if you can't pick an idea, generate more ideas. It tells me there's some other blockage in your health. Are you around positive people only? Are you grateful? Are you healthy phsyically? Are you sleeping well? etc.
One of my friends recently attended a trade show and that seems to be a good way to network within an industry. LinkedIn is a good way to network. And go to LinkedIn networking meetups. Even throw networking meetups. Lewis Howes is a great example of someone who went from scratch to using linkedin to become a networking master. check out his stuff.
I have never really heard you talk much about travel or having fun. I like to read and write and play games. Thinking about it - i like to do the same things I liked to do when I was six years old. Except when I was six I didn't like sex as much as I do now.
How long do you spend in front of your computer per day / week? I wake up and read for 2 hours. Then write for 2-3 hours. Then that's it. I don't surf the web. Sometimes I play chess online.
Hi James, can you give a quick tl;dr about how you started your most successful business (capital requirement, type of business, length of business) and what are the most important things you've learned business wise since finding all the other 19 companies? A) I never raised a dime B) I had a customer from the first day C) I never put the company in jeopardy D) I was always willing to sell the business. I was never foolish enough to think I could be a billion dollar company. 99.99% of successful companies sell eventually.
What worked, what failed, etc... That's it. Oh, and also, if you arent getting customers and revenues, shut down the biz immediately or turn it around quickly.
Who is your hero? To be honest. I am my hero. I'm fucking alive.
I want to be passionate about something and make lots of money from doing it. Any advice to help me find my way?
Hey James, love the blog, its definitely changed my perspective on quite a few things in life. Thanks for all the advice you’ve offered. My question is what is your opinion on American corporatism? Are corporations becoming too powerful and hindering capitalism by phasing out small business owners and the individual entrepreneur? Will new technological efficiencies continue to destroy the work force as operations people are replaced by computers? And if so, how do we fix it? I am glad you have separated out the words "Corporatism" from "capitalism". Capitalism has created innovation in every aspect of our lives. Corporatism tries to enslave us.
Capitalism is ultimately stronger. Corporatism doesn't need any help to die. It's already dying a very natural death. Underemployment is skyrocketing because technology and globalization and govt regulation has hindered (and helped) corportations form hiring people.
Eventually the entire middle management (anyone who shuffles papers and sits in a cubicle) will be outsourced. Everyone will either become a temp staffer or an entrepreneur. Make sure you pick the right choice.
The word force wont be destroyed but the above choice will have to be made by everyone.
This always gets me. If the working class kept the advantages that came with technology and globalization, we'd we working ten hours weeks or outsourcing our OWN jobs to India. Note: we have more leisure time than ever. A century ago the avg work week was 60+ hours. Now its 33 hours.
In the past people used to wonder what we'd do with all our leisure time. Apparently "being homeless and scavenging garbage dumps" never occurred to them. BUT, underemployment is high. So we have to make our own opportunities now or the corporations will own us.
Have you ever screwed anyone over to make your millions? If so..what did you do? I have never screwed anyone over to make millions. However, value is in the eye of the beholder and fortunately some of the people buying my first and second company might have had a different value in mind than I had (a higher value). But I always tried to deliver to my best once I sold a company. I never wanted to disappoint someone. Sometimes I thought too much about that instead of trying not to disappoint myself.
What's the best piece of advice in getting initial (angel) investment? Get a customer first. Your cheapest money is revenues.
You said one of your best skills is reaching out to people (sometimes ones you've never met before). What's your best tactic on cold calling and your best intro? A) idea networking. Introduce a person to ten good ideas they can use to improve their business. Give the ideas totally for free and in great detail.
B) permission networking. Think of two people who can help each other and why. Get their permission to introduce each other. Then introduce.
Just cold calling rarely works. You have to give. Or as Gary Vaynerchuk likes to say, "you have to give give give".
What's something(sector or industry) you absolutely refuse to invest in? Why? I'd invest in anything if people smarter than me show me how it's a good investment. I realize I'm not the smartest guy around so I always rely on experts to really tell me what information I should be paying attention to. The biggest mistake is to think one is smart enough that he knows what is a good investment.
What does the future look like? Lots of old people.
Hey James, I'm a huge fan of you and your writing. I read your blog regularly. If you could go back to any point in time and tell your younger self one thing, what would it be and why? Who are your favorite entrepreneurs/who do you look up to? I wouldn't tell my younger self anything. But I would tell any other young person: don't worry about purpose, goal, passion, etc. Think about helping people. But you can't help people until you help yourself. Be a beacon of light. The way you do that is through physical, emotional, mental, and spiritual health every single day. Without this, your beacon becomes foggy. Ships will crash. People will die.
What is your single biggest regret? I have no regrets. I used to regret losing money. BUt that only means you will keep losing money. I am really grateful every single day for everything that has happened to me and the adventures I constantly have as a result. Thats how you create abundance.
My question - You talked about all the different businesses you started and how much they varied by type. Knowing how difficult and time-consuming it is to try and become an "expert" in that many topics before diving in, how would you recommend learning and researching a new businesses idea before starting? Second, get a customer before you start. I always ahd a customer before I started a business that was successful.
What's the best advice you could give to a recent college grad (marketing major) wanting to move to Silicon Valley from the east coast to land a position at a tech company? Go to Look for every company that just got funded. They are all hiring marketing people.
Do you think the world today is better off than it was 20 years ago? Yes, the world is better off. For instance, I can write a book and publish it without having a publisher.
My cost per unit of electricity I use is much less.
My choice of food in the store is much greater.
Lifespans are longer.
Infant deaths are down.
Is everything better? I don't know. There are more opportunities than ever. You and I can talk through continents without even knowing each other's names. I love this. has a downside. The opportunities are for individuals to take advantage of. Don't let the corporations take advantage of you. If you don't write your own rules, someone else will write them for you. And that won't be fun.
Your new book sounds a lot like "Think and Grow Rich", which emphasizes a certain mental state one needs before striving for riches - was that on purpose ? How did you get out of your depressive phase and what do you think are the foundations of true and long-lasting happiness ? In my book i described what specifically worked for me to get out of a depressive state (its the chapters on the daily practice) and how it worked for others as well.
I have been trying to figure this out on my own, but have not yet reached my goal. Also, thanks for doing this - you are one of my "heroes" if thats a thing. I think my book is more practical than Hill's. I give very specific stories about what happened to me and others. In the book I describe the foundation for that success. Without the foundation, you can't hope to build the house. Note: if you buy the book and read it, I will pay you back for the price. Please read the book and see if that helps you figure it out. I think it will. I am betting on it.
Do you believe the following? "All happiness comes from helping others". No. I think helping others is a great thing but it comes second.
A beacon in the water doesn't guide ships if the lights are out. You have to make sure your light is shining as brightly as possible. I always write about "the daily practice" which helped me to do that. In my book I tell of stories of other people it's helped. Btw, i'm not trying to promote the book but the message. if you see in the first page of the book: I offer to pay people back who can prove to me they read the book.
Will you invest in bitcoins and bitcoin companies? A) not just be a bitcoin broker or miner. Thats a loser business B) they need to build merchant tools. Merchants ultimately will create demand. Not traders. C) they need to be open to other cryptocurrencies than just bitcoin.
Whats the best place to start when it comes to investing? Say you have 5 grand, where would you invest it? Dont invest it. put it in the bank. use the time that buys you to read and study industries that you think you can improve. Find things you like to do, see what you can improve. See who you can help.
When I invest in myself, the returns are in the thousands of percent. Thats much better than any regular investment.
What tips would you give to someone ready to start a new business for their first time? Find a customer. Find someone who would actually like to buy your product. Make sure you have six months worth of expenses set aside or work full time while you build.
You've written about working with Jim Cramer of "Mad Money." What is he like on set? Would you still listening to his investment advice? Jim Cramer is incredibly intelligent at media and entertainment and branding. I would listen to anything he says on those topics.
On the topic of investing, I only listen to myself.
Have you ever seen the movie, "Everything is Illuminated"? If not you really should. O,, I will check it out.
I recall reading one of your BLOGs advising against being a daytrader. However, would you give me the same advice in my sich? I am 55yo, and had a steady job for 30 years, was laid off in February. Since 9 months ago I have quadrupled my Etrade account and all my accounts are up a net factor of 3.4. I find medium swing trades with high selectivity for high probability multiple catalysts most rewarding, but need 24/7 focus to get out of those in a timely manner if new info surfaces counter to my thesis. So trading while working full time is not as successful for me, but at my age full time trading could set me up better over the next 15 years. Any advice? Yes, even in your situation. Daytrading is a much different world when there is low volatiliy like there has been in the past 9 months. The one thing that is sure to change: volatility is sure to spike at the exact moment you least want it to.
What do you advise to someone who is just out of high school and wants to be successful? I am jealous of you.
Dont go to college - you get a five year head start on all of your peers - then do whatever you want. dont worry about anything.
I have an idea for a company.I live in a "second" world country where life is cheap.I have considered suicide,struggled with depression and lost part of my sanity.The only reason I am still around is because I have one idea that I believe will make up for everything and give some meaning to my existence. I've spent years of my life obsessing on it but I can't make it real.There are two big reasons for that: money(I spend everything on food,electricity etc) and confidence(in order for my idea to work I need to step it up and be someone who can lead the company,the thought of that terrifies me) Do you want to start another company? No. BUT. You can do it.
You say confidence is holding you back. Confidence has often held me back and held back many of the people I write about in my book.
Start to work on the basics: do you sleep eight hours a day? Do you eat well? Are you grateful for what you have? Are you around positive people? Do you dwell on the negative?
The negative is worth thinking about, but not worth obsessing on.
Health gets rid of obsessions.
You can do this company. BUt first build your foundation. Then build thehouse.
Why didn't you quit at any point? I quit many times. Quit and folded and folded in half. Then in quarters. Then on the ground.
But then you have to get up. You hvae to live. But I had to figure out what "living" meant after I had messed up so many times. Not just my life but the lives of everyone around me.
Out of your 20 companies which one was the one you thought had the most potential but didn't make it? One idea: crowdsourced ad campaigns. Search my blog for "junglesmash". It was a good idea and Procter & Gamble and other companies were contacting me about it. But I got depressed and let it drift and just never executed on it. Its still a good idea.
Another idea: a dating site on top of twitter. At first I thought it was good and then I thought it was VERY bad and shut it down and returned the money I raised.
Over this last weekend I found a solid plan to fund a project. This project is in a very saturated market with the biggest market shareholder pulling down a billion in sales annually. What advice do you have for someone entering a market and playing against the big stick swingers? Find an initial customer who thinks your product has an advantage over the market leader. If it doesn't, then find a new business.
This may a random question to some, but do you have any children? I don't want to say that kids can hold people back in life sometimes, although I think it can alter some endeavors making things more difficult to takecertain risks. Thanks for the AMA. I have 2 kids. Kids are really hard, right? I hated it for a long time. It wasnt really right for me. But I love them very much. In that way kids can be a contradiction.
James - huge fan of your work. Thanks for all you do. I've recommended your works to basically everyone I know - and a lot of folks I know are in the same aimless-underemployed-frustrated-twentysomething stage that I was in. You're really great at helping folks figure out the signal in the noise. There's not really a question here. Hm. Do you need an intern? Haha. Was just having this conversation with Ramit Sethi (who wrote "I will teach you to be rich") yesterday. I dont know what I would use an intern for. He told me he's working on a post about this.
Last updated: 2013-06-10 12:56 UTC
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[Table] IAmA business school professor and former Fed & White House economist. AMA!

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Date: 2013-12-05
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Questions Answers
The protestors in the other IAmA are catching a lot of shit for saying the minimum wage should be $15.00. What do you think the minimum wage should be? On the questions of what the minimum wage should be and what the effect would be on fast food industry... We are having the conversation about minimum wage for two reasons: First, the level of income, and second the disparity of income. A 40 hour minimum wage job puts a single person at about $15000 per year, about 1/3 of what the median household income. At least as important, though, is the widening income disparity between the top and bottom of the income distribution. Increasing the minimum wage will help increase the level, and will move but will do little, really, to change the overall distribution. I suspect that the minimum wage will never be the 'living wage' that some wish it would be.
Also, what is your favorite Christmas song? On the Christmas Song (the easier question): Deck the Halls.
With the current US debt topping $17 trillion, is it inevitable that we are destined to follow in Greece's footsteps? If not, what steps do we have to take to avoid Greece's fate? The key to avoiding becoming Greece is to keep innovating (note the thread below on falling R&D.. .which is not the way to go). Debt is not an issue so long as the capacity of the economy to repay the obligations is rising... this is why innovation is important.
Hello Mrs. Mann, Wouldn't you agree that then we (the people) should encourage our government to fund science, technology as the driving force of our economy? Government funding of basic research, including through academic institutions, is catalytic to private sector R&D.. so yes.
I like how you cite innovation as crucial to avoiding the fate of Greece while dismissing truly astounding innovation as "only moderately good." Not sure what the quotes apply to?
Of course, nourishment from the parasite is crucial to the growth of the host. It makes so much sense now. Thanks Doc! Symbiosis, not parasitic.
Dr. Mann, I'm not one for economics and the like, so I'll ask a fun question. Why choose? Watch it on both holidays.
With the holiday season quickly approaching, do you think Tim Burton's The Nightmare Before Christmas is a Christmas movie or a Halloween movie? I just can't seem to figure it out. See this link for more: Link to
Also, how do you feel about notable decreased spending in the sciences that has become the norm in the US? As a chemist, I've noticed a decreasing size of proverbial "pie" going around, especially with government funding. Federal funding cuts on account of sequestration. Private R&D is now more important, but over the last 5 years, has been falling due to recession/slow recovery. Smart firms are spending money on innovating (the R in R&D), but most firms are waiting for demand to materialize (why do any of the D in R&D if there is no demand?).
What are your thoughts on BitCoin? Don't buy now! In some respects like any asset (price goes up and down). In some respects like gold (mined, anonymous). But, not clear about its long-term value... will a broad class of economic players want it? In terms of BitCoin as money'-- money has three uses: unit of account, means of exchange, store of value. Bitcoin is only moderately good at any of these.
Hi Prof Mann..I took your Intl Finance class few years back. I was grateful to learn from a real world economist rather than textbook economists. Hope all is well! Q. What do you think about the massive bubble in the US stocks ? Looks like there will be a sharp drop once the Fed pulls out of QE. How will that affect the Main Street? Good to hear from you... hope you are doing something fun. Main St has not generally gained all that much from the last couple of rounds of QE -- bank credit remains sluggish, and most Main Street individuals do not own a lot of stocks: See NYtimes Economix:Link to
What is the biggest misconception about the national economy you see on a regular basis? That the budget deficit at zero should be the objective.
Hi there! It's Kathryn Peyton. Hope you are well. John Hussman says QE is a cheap parlor trick. What do you think? Are we ever going to have interest rates again? If not, what happens to pensions? Hi Kathryn, QE is not a parlor trick, more like a ponzi scheme for the equity market (see other thread on asset bubbles), and for the hedge funds that are trading US Treasuries in the CFCs (Caymans). The best way to get to positive interest rates would be for the Washington policy crowd to stop back-biting. Simply reducing the uncertainty and vitriol would enable consumers and business to go about what they should be doing, and positive economic news would llow the Fed to remove the exceptional policy.
Having worked at both the Fed and the WH, how much influence do you believe the President has over the economy? Congress writes legislation and passes the budget (or used to... they haven't done either recently), which gives the President less power than it might seem.
How should the U.S. government address the increasing income disparity, if at all? Income disparity is partly on account of policy choices, therefore, different policy choices would lead to a different distribution of income... the current distribution of income is not in the best interests of the US economy as a whole.
Do you believe the regulations enacted after the Great Recession will prevent a similar collapse in the future? Dodd-Frank is not Glass-Stegall... Financial institutions have a great ability to arbitrage rules. With that many rules there are that many arbitrage opportunities.
Then what is or should be the economic role of the President? President proposals are big think.
What kind of income distribution would you like to see and what policy choices would get us there? Income distribution of the 70's-90's was different... and over the whole decades, economy grew faster.
Then do you believe we should deregulate the financial industry? No, I don't believe we should further deregulate. My point is that very complex set of rules and regulations is unlikely to achieve the objective of a transparent and safer financial system.
They get criticized by some as "horrible, oppressive, gender-biased, and a tool to protect for the Western elite.". Do you reject these? On Prebisch-Singer (that manufactured goods prices rise relative to commodity prices over time): the empirical evidence for the long-term is pretty clear.. you want to be in manufacturing (or actually services these day...see Balassa-Samuelson). However, there can be relatively long periods (a decade) where P-S does not hold. Can a resource-rich country use that period of time to diversify is production away from the single resource, so that when P-S holds again the country has sufficient support for a broad-based development?
Do you think that it is possible for the government to identify asset bubbles? If so, do you think the government ought to take an active role in deflating/popping/counteracting asset bubbles? A number of years ago (before the financial crisis), I was at the Jackson Hole Central Bank fest. At that time, other policymakers (esp. Japan) focused on how to pop asset bubbles because they had learned that they did not have the capacity to 'clean up the mess'. The US policymakers preferred to allow the bubble to proceed because of the potential upside of the bubble (funding new ideas), and there was the belief that we could clean up any mess (and we had done pretty much OK following the 2001 tech bubble).
How can the Fed "manage an economy in which the zero nominal interest rate is a chronic and systemic inhibitor of economic activities, holding our economies back below their potential"? Larry's thesis focuses on the interest elasticity of business investment, whereas these days more important is the consumer demand elasticity of business investment. I suggest that we need to rethink the role for bank credit and how that might be related to consumer demand. The lower interest rate helps the large and global to borrow (which they have done to pay dividends and buy back stock), but not to hire workers and create consumer demand. The lower interest rate has not helped small local firms because banks won't lend to them. Therefore, no credit, no hiring, no consumer demand. Creating positive feedback loop at the small local level could support a broader based recovery... but this is not based on low interest rates, but on availability of bank credit.
Do you see the business scape changing? What new opportunities and challenges will MBAs or finance grads face in the next 5-10 years? Are your students' pursuits different than pre-recession grads? Numbers numbers numbers... Look into big data, marketing, and any type of structural analytical thinking.
Prof. Mann, what's your thought on China's banking system? Can I say that it sacrifices efficiency for the sake of stability? Chinese banking sacrifices efficiency and is headed toward sacrificing stability.
What are your thoughts on a Universal Basic Income in the US? Specifically: Do you think it would be a net positive to the US economy and how soon and how difficult do you think it would be for this country to enact such a policy? Switzerland in October voted in this direction. US is not likely ever to do so.
Zero interest rates for nearly a decade? Quadrupling the money supply in a few short years? Financing 70% of gigantic US federal deficits by just adding electronic zeroes to the federal government's accounts at the Fed? Responding to the massive destruction caused by US government-induced asset bubble by re-inflating that same asset bubble and inflating several other simultaneous asset bubbles? This can't possibly end well, can it? I think we are trying to end it with a whimper not a bang. But, volatility for sure.
What are your thoughts on offshoring? The work that I am doing now suggests that the globalization of the supply chain (another phrase for off-shoring) is pulling back. In the past, firms only focused on the mean (e.g. average cost) gain to offshoring. Now, they are also focused on sigma (the uncertainty about how long it takes to get product) and well as the black swan event such as Thai floods, Fukasima, Bangladesh factory collapse, and other catastrophic events to both inputs and reputation. So, the mean gain is being reassessed in light of uncertainty and the black swan event... bringing at least some of the activity back home.
What career choice would you advise in a flat world? On careers-- the world is anything but flat. Consumer preferences are becoming more heterogeneous in all dimensions. Think about what your talents to meet heterogeneous demands... these are the new products.
Hi, and thanks for the AMA. With regard to a career that balances policy making and academia, do you have any advice for a new graduate who would like to head down this road, however is not necessarily a prize-winning/scholarship student? Policy-making and academia work well together, especially from a teaching perspective. Policy experience makes for good classroom discussion. Go work in Washington (or wherever your capital is) and then draw some generalizations (e.g. come out of the trenches for a while) and write a blog or set of articles as a start on an academic resume.
Do you have a sense (/guess) about whether the dip after the postwar boom is the new normal or not? Can we get back to sustained and sustainable growth, or was the boom an anomaly? Is this a question about whether 2.25% is the new normal for the US? (Not sure about which post-war time period). This is a normal predicated on the policy set we have now. Change the policy set and I see a burst of business and consumer demand that will support innovation and a virtuous cycle back toward 3%... at least I'm hoping.
China's investment into American sovereign debt leads many to call it 'Chimerica'! How intertwined are these two economies? How much is China's currency war hurting the American exports? Importantly related, but probably less intertwined than most people think. Yes, China owns a lot of US treasuries. But China actually exports more to Europe than to the US at this point.
Professor, I go to Bentley University just on the other side of town. Thanks for doing an AMA. I was wondering what your thoughts are the governments decision to subsidize green technology companies, such as Tesla, which until recently (Q1 of 2013 for Tesla) have been unable to produce any profit? Will these subsidies be effective you think in promoting green technology and eventually leading to a change at the industry level? Research into technologies is a better strategy than picking firms that use the technologies... the problem with subsidizing a firm is that the funding is a bet not only on the technology but on the firm's managers. Leave that joint-bet to venture capitalists.
What is your opinion of QE3 and if it is negative, what do you think is a more effective strategy to restart economic growth? What do I think of QE3 -- The objectives of the fed policymakers are stable inflation and low unemployment (what used to be termed sustainable long-term growth). They are operating in an environment where fiscal policy has been severely negative, which pushed them into QE3 and further, led to the non-taper in September. The collateral costs of QE3 (effects on the UST auction market and to cross-border capital flows in UST are significant), as well as the equity price increases (see other thread) are rising relative to the (any) benefits for employment. As for alternatives, purchasing packages of SBA loans (rather than UST and in addition to mortgages would have been an alternative, and might still be the way to go. The issue is that QEs have done little to encourage bank lending (non-auto, non-mtg). The UK Fund for Lending is another approach, although I would prefer an asset-back strategy to direct lending.
Is there any evidence to suggest that productivity improves in times of recession? Productivity: two types... short term and long-term, and labor vs. total factor. In the short-term, labor productivity is pro-cyclical as firms lay off labor (on the way into recession) and do not hire immediately (on the way out of recession).
In the long-term, labor productivity and total factor productivity are positive with economic growth... indeed the foundation for growth... longer term, R&D (we keep coming back to that) complements labor (not all labor, but many types of labor) and is the basic foundation for long-term capacity of the economy to growth (and handle the debt, see the Greece question above.)
Dear Prof. Mann, do you think that the Fed will definitely taper the QE? With your working experience in the Fed, do you see that the Fed ever take into consideration the impact of their policies towards the rest of the world? See above on taper-timing.
Fed does take account of ROW, and increasingly so given the rising role for trade in GDP and capital flows in US investor returns. But, the first attention (and traction for policy) has to be a US focus.
Is it worth it to get an MBA if I'm a computer scientist? And what do you think of the EGADE Business School, in Mexico? One of my former students who is at EMC says she can't hire enough computer scientists who are also business literate, and are data jockeys. Do you know hadoop?
What are the alternatives to monetary and fiscal policies in the US if they dont produce the growth we're expecting it to? Pray?
When you worked for the White House, where did you usually have lunch? Do the President's Council of Economic Advisers actually meet with and advise the President? Do you like sports cars? Lunch -- at desk. Yes meet and advise. sports cars -- drive a 1990 Miata... not clear that classifies as a sports car anymore.
When do you see the fed raising interest rates? Raising interest rate -- a long way off. Tapering to start mid-next year when the Fed does the Humphrey-Hawkins testimony. Don't want to have to discuss tapering at the press conference after the FOMC... that didn't work well last time.
What exactly is the Fed purchasing via quantitative easing, and what will the fallout be when it stops making those purchases? $85 billion a month, about half purchases of UST in the secondary market and about half purchases of mortgage backed securities.
Reducing the amount of such purchases is the so-called taper.
This morning I found out that Americans would have to spend $7 on a gallon of milk because of the inability of congress to reach consensus on yet another bill. What are the economic challenges that the next year will be if the senators still can't play nicely together by the end of December? And, following the holiday spirit, favorite holiday treat? The farm bill is one of those stuck in Congress. Next year will bring more Washington gridlock challenges -- no budget, more $$ of sequestration than last year, and another debt ceiling debate. The folks who are forecasting 3% growth for next year... I don't see how they get to those numbers. Consumption growth revised down this morning. Business investment still barely positive. Export growth revised down. This is not a recipe for 3% in 2014.
Do you think the Federal Reserve is causing issues more than helping? See above.
Professor: What is your opinion for higher skilled worker migrants? What is benefits for the sending country? High skill worker migration can benefit sending country in short-term with returning remittances and in the longer term as a returnee with global skills and contacts.
Do you invest in the stock market? If so what stocks do you have, and why? // If not, how come you dont? I'm not a stock picker.
Hmm let's see.. minimum wage has been in the news recently, do you see a conflict with resolving people's concerns with a livable wage and keeping American industry from leaving the country? (a further exodus in any case) If so, how can the current administration solve that problem at the federal level? Note thread above on why US firms (at least some of them) are rethinking offshoring.
If we did as the protesters are asking and granted all fast food workers a raise to $15/hour, what effect do you think that would have on the fast food industry? See above.
How hard did you laugh at the Trillion Dollar Coin idea? A lot.
How am I supposed to pay for college when all my nightshift money is going towards food and transportation to get to the internship which doesn't even pay me for my labor, despite the fact that my boss is "gonna be rich" because of me? I'd suggest a reevaluation of the internship choice.
Pretty sure we should shoot for a budget surplus, to pay back some of the $17+ trillion that we owe. Better to innovate, and grow out of the debt burden
Hi Professor! Thanks for the A- in your class (I think), hope all is well. Hope you are having fun where ever you are.
...former Fed & White House economist. AMA! I'm sure people will ask you things, but with those credentials you probably don't know any answers. A good discussion on thought process can be useful to arrive at answers...
Last updated: 2013-12-09 20:57 UTC
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[Table] IAmA: We are Rooster Teeth and celebrating our tenth anniversary. AMA

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Date: 2013-04-05
Link to submission (Has self-text)
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Questions Answers
Go Joel #1 -Joel. I fear I've broken Reddit. page looks like a subway map to me. How do you get downtown? ~Joel. I am now replying to my own Redditing.
What got you into finance/the stock exchange? Besides the obvious like making money and all that? Being poor.
This is an excellent thread. -Joel Joel, do you have any questions for me? -Joel.
Joel, what's it like being Joel? Feels like I wearing a burlap sack.
Do you think increased oversight is a good thing? By who? Just kidding, oversight is impossible.
Where are you Joel?!?!!? In a room with people typing...Feels like they're taking the SAT's or something.
Should I be investing in Gold? Yes, massive central bank printing all over the world. Everyone locked in a currency war. Bitcoin suddenly makes sense.
So, any thoughts on the FED? They will never stop printing. They can't. Not till we run into a currency crisis ~Joel.
Yes, Joel, how does Reddit work? ~Joel. Seems like you mostly reply to yourself ~Joel.
I love how Joel is in his own little world here, gathering Karma to create his own currency. Can i turn it into bit coins? ~joel.
Can you beat Jack in a wrestling match? If Jack invented a game where he made the rules and one of the rules is 'Joel can't win' I would still win. ~Joel.
How much did it cost to get Urban Dictionary to say this about you? Yikes. ~J.
So... Itchy? Exaclty ~Joel.
Last question, how on earth did you know to sell Apple when you did? You must brag about it all the time. Got it from an analyst who posted on zerohedge. ~joel.
You don't get computers for the SAT's, im sorry to say. If you're not cheating. ~ Joel (You should try cheating.)
Wait... there's no ~J on this comment. For all we know, this could be Jack. I'm not taking financial advice from Jack. Unless its about BRCOQ stock. This is my favorite response. ~J (except the brcoq thing, don't know what this is)
So should people start looking into Bitcoin? Yes. ~J.
So we should encourage them to print faster, so we can move onto effect currency management sometime in the near future. God, not sure it's possible to print faster...Well, Japan.
Will joel make out with joel? Kickstarter.
Man, I am really good at this. ~Joel. Pretty sure I can reach the bottom right side of the page. ~Joel.
What do you think is your critical advantage over Jack that allows your superiority at everything? Timing. Timing is everything. ~joel.
If the entire Rooster Teeth office was involved in a bloody fight to the death, where there can be only one winner, who would emerge victorious? One horse sized Joel.
Joel, do you have any questions for me? -Joel. Yes, Joel, how does Reddit work? ~Joel.
Seems like you mostly reply to yourself ~Joel. Man, I am really good at this. ~Joel.
Do you do this in front of a mirror a lot? Mostly do other things in front of the mirror. People. -Joel.
Oh my god Joel I can't even. Me neither. ~Joel.
Internet. Internet ~Joel.
Pretty sure I can reach the bottom right side of the page. ~Joel. Hi. I am JJ Abrams, director of the new Star Wars and Star Trek movies. AMA! ~Joel.
Where is the squiggly? ~
You guys have a large and passionate following, and much of it is made up of people who are involved in video games and internet culture. Your audience also skews pretty young. Because of this, a significant portion of your fan base is, well...pretty socially awkward. Also, and you don't have to delve into this if you don't have time, but obviously there's some (well-deserved) concern with the RT subreddit. It seems that the least mature are the most vocal, and that makes for pretty lame and shallow content. It often comes off like a middle school gossip forum, or the shitty pre-teen parts of tumblr. Do any of you ever consider pushing for a presence of RT staff in the subreddit to head off idiot rumors/misconceptions before they become nonstop circlejerks like they so often do? It is easy to focus on the awkward, but that really is a tiny portion of the people I meet personally. I myself am SUPER socially awkward but after meeting people at various events for the past ten years I've gotten better at it.
The secret I've discovered is, if someone is uncomfortable and doesn't want to talk, I do the talking for both of us. I begin sort of asking myself questions I get frequently and then answering them. It is the easiest way to help make someone comfortable since I basically can jump start the conversation. We do keep an eye on the /RoosterTeeth subreddit and any time we spot information that is way off base or incorrect, we step in and correct folks.
What if your legs... didn't know that they were legs? Still working on finding an answer for this one.
Edit: [Context] (Link to Barbara.
With so many millions of fans, does it ever feel like you have lost a great deal of your privacy? It seems as if a lot of people are very interested in the details of your private lives. If so, how do you deal with this? Not having complete privacy is just one of those things you have to deal with, but sometimes it does get weird. One time Gus and I were at Dragoncon and I noticed a group of people looking at pics of me on their computer. They had taken paparazzi-type snapshots of me with a long lens while I was walking into the bathroom (but not going to the bathroom thankfully). That was one of those moments I realized we should probably start being careful about privacy. Now that several of us have kids it's definitely something you think about because you don't want it to affect their lives. - Matt When I got divorced two years ago, the only reason I didn't talk about it was because my ex could not respond to anything I said on the same level. She doesn't have a podcast with 3M listeners or a YouTube channel with 2B views. With two kids, it's very important to not imbalance that relationship, especially at a volatile time like that. Everyone is different when it comes to privacy. I actually care a little less than most people I think, but I did get skeeved when Reddit posted my old home address (don't bother looking I don't live there anymore). FYI, that's why I said some people in the subreddit were weird. All that being said, there are certainly people in life that I follow and their personal lives are interesting to me. So I understand the trade off. But don't be fooled -- social media is not personal lives. People will cherry pick the best moments of their lives and present them on Twitter and Facebook. They even polish them to look a little better. Don't get too wrapped up in other people's lives and compare yours to theirs. We all have our own joy & sadness, our share of heartbreaks & happiness. Only one-half those moments tend to make it onto a Facebook wall.
Would you say you got elijah Wood? Yes, I Wood say that. Also, marry me.
Is #DanTheMan moving to the US now that SlowMoGuys is part of Rooster Teeth? He's busy protecting the Queen or something.
How different is it for Gavin and Michael doing Immersion from Geoff and Gus doing it? Luckily Gav and Michael have a good back and forth. It is different than the back and forth Geoff and I have, but they work well together, which is super important.
When did Matt become the CEO of Roosterteeth? And why? I stepped down on April 1, 2012 after nine years as CEO. Matt was the best choice for the job.
It's very easy to sit in place and hold on to titles and protect your domain, but if you want to run a succesful business you have to be objective. Sometimes changes need to be made even if the thing that needs to be changed is you.
Best explanation -- the guy who took us from one person to forty people is not the guy that is best equipped to take us from forty people to five hundred people.
A lot of things have changed under Matt but one thing remains the same -- each year is our best year. The company is stronger than ever thanks to him.
I posted the comment in the thread but i'll throw it here, what is everyone's titles or job duties now? Maybe current projects people are focusing on or along those lines. Matt: CEO.
Burnie: Head of Board/Creative Director.
Joel -- Commerical Production.
Geoff: AH.
Gus: Podcast & RTX.
Yvonne: VP of Operations.
Alan: Biz Dev.
Kath: Lead Producer.
Monty: Monty.
Did anybody think it was an April Fool's joke? It was not publicly announced. And we don't make April Fools jokes. --Burnie.
Do you see Roosterteeth expanding that largely in the future? Yes.
From 40 people to 500? Yes.
Do you think there will be different offices in different cities? Burnie.
Who is the main video editor for RvB? --when did they start video editing? Man, that was a lot of questions. I need another beer. -Gus.
Did they have Battletoads? Gus.
Without your current jobs, where would you be at today? What career paths would you have pursued, something in the game industry? I would probably be living in Toronto, interning at an Ad Agency. That was the plan before these guys were all, "hey lol u r kewl, come to Austin loloololol"
I was the President of a telecom company before this. I probably would be doing that still.I've made a terrible mistake.
To the new guys: What were the first few days/weeks like working at Rooster Teeth? How do you compare it to your other jobs? Working for Rooster Teeth was something I never imagined would happen, so the first few days were a bit surreal. It didn't take long for it to feel like home, though. I've never worked at a job where it felt like a second family until I came to RT.
I didn't have a job before working here so I figured all workplaces are like this.
My first week at Rooster Teeth was extremely different from my last job. I came from a corporate environment so immediately things were much more laid back in the RT office. The best thing though, was how welcoming everyone was. Everyone here was so nice and welcoming which was great having come from another city. And of course there's always tons of laughs at any given moment.
Terrifying. Every day, I anticipated fucking up and getting fired. It was just incredibly overwhelming. There I was, some college kid/gamestop employee sitting next to a bunch of professionals. Literally every person at Rooster Teeth is here because they excel at something, whether it be writing, editing, cinematography, etc. I simply felt like I wasn't worthy... and to be honest, I still can't believe I'm still here.
Oh, and working at Gamestop was pretty bleh. Know your alphabet and sell magazines. "Thank you for calling Gamestop, where we buy and sell used games! This is Miles! How can I help you!?"
There are lots of creepy people on the internet, and they seem to focus a lot on you, Barbara. Do you get upset by this, amused by this, or what? You may be surprised, but this doesn't upset me one bit. Something I learned REALLY early on by having a strong online presence is that people on the internet don't treat you as they would in real life, and you can't take anything to heart.
"Those who mind don't matter and those who matter don't mind" is a way I've always lived my life, so I'm never bothered by negative/creepy comments, because I know that there are people who support me, and that's what I pay attention to. The love I receive from the RT Community is something I wouldn't trade for the world, and some gross/mean comment isn't going to make me forget that.
For the AH guys, what Let's Play (besides Minecraft) has been your favorite to do? And what games would you want to film next? Assassin's Creed Multiplayer -- Jack.
Baseball where Geoff shit's himself -- Gavin.
Olympics Part 1 -- Geoff.
Mari0 -- Ryan.
Let's Play Worms -- Ray.
Minigolf -- Michael.
Rooster Teeth: The Movie. Who would you cast? I would cast Joel. As everyone. Comedy will ensue.
Barbara: How are you dealing with life that lacks poutine? Sometimes I'll just cover Gus with cheese curds and gravy and cry.
10 years ago, if someone told you this is where you'd be now, how would you react? What would you say to him/her? What would you say has been your greatest influence in the writing for RvB throughout the years? I was convinced this project wouldn't last. I refused to buy a car or even rent a decent apartment because I knew at any moment this would all end and I'd be on the street. I'd say to myself "go ahead and get a decent car, getting stranded on the side of the road every other day isn't worth it."
Do you all enjoy writing/acting/filming the more serious aspects of RvB (e.g. the Freelancer storyline), or do you prefer the more comedic elements (the Blood Gulch crew, et al)? We wanted to do our own event for years (we used to want it to be purely internet based and call it dot com con). I'm pleased with the expansion but I wish we were even bigger. I can't wait to fill out the Austin Convention Center. RvB passed my wildest expectations about four weeks in. Everything after that has been experienced with a healthy mixture of gratitude and disbelief. Writing influences are hard to pin down. The movie Dark Star was a major early influence. After that, Lost was a weird influence in that I felt it was turning the sci-fi genre into mystery and I was determined to fight that.
Anyways, that's all I had. Thank you all so much for doing this AMA, keep producing awesome content and I'll keep watching (and loving) all of it. RTX 2013 is what I'm most excited about!!!
Of everything we do, I like playing characters as an actor. That's easier for me to do when I write them.
Just wondering, to start the evening on a bummer, Any big regrets? Missed oppurtunities? I remember you were talking about a show that was Wreck it Ralph like in Theme and story, Whatever happened to that? Edit: The link to the concept piece for break room Link to No huge regrets really, but I do wish we had started doing live action content sooner. There are plenty of other projects like that we haven't had time to get to and it's always tough to find the balance between developing new content and making sure the current shows maintain their quality and consistency. - Matt That show was Break Room. We did an concept piece for it waaayyy back in 2007. You can probably find a clip of it somewhere. It's mothballed for now but may revive if we get to a point where it won't look retroactively derivative of Wreck It Ralph.
Any news on the Strangerhood 2??? Ray is working on it as we speak. But not really.
Joel, do you have any more "Joel and ___ Play" games in mind? One coming next week.
Next week ~joel.
I actually tried to post the Kiniectiamals...kinitiamals...the cinnamon attack bear video on here. it was my only post here ever. I did it 30min after we released the video. Someone else has already posted it and I only got 1 up vote. It was like high school all over again. very depressing, haven't been back to reddit since then.
How was working with Elijah Wood? Awesome. I got to work with him once before on a movie called The Faculty and I remembered him being a very cool guy. That was before LOTR, and even with all that success he's still totally down to earth and easy to work with. He nailed literally every single take for RvB first try. - Matt.
He's an absolutle legend and we were very lucky to have him in the cast of Season 10. You should all go follow him on his twitter account: @woodelijah.
I got to talk to him at RTX briefly. I got my first boner that day.
Is Joe enjoying his retirement? Yes. Let me see if I can grab a picture of him. --Burnie.
No offense to you guys, but Joe was probably my favorite employee at RT. Seriously the most chill cat I've ever seen. If you had to work with someone who vomited on your workspace and whose shit you literally had to clean up you wouldn't be so enthusiastic.
Who makes the most noise in the company? Michael. Especially on Thursdays. You better hope you don't have a meeting that day in the conference room (which shares a wall with the AH office).
Miles. I showed him the Bane voice trick just so he would put a goddamn cup over his mouth.
As a college student who would love to work for a film/Entertainment company like Roosterteeth, what kinds of things really stick out in a resume? I listen to the podcast religiously and it seems like most employees start out as fans. Fuck the resume, make a god damned reel! Everybody looks the same on paper...resumes are an exercise in who is the best liaexaggerator. A reel shows actual talent and what you're enthusiastic about.
When is Burnie and Gus going to be in a Let's Play!? It's a sad fact, but we all need to realize that not everyone at Rooster Teeth can be in every production. It's just not possible. I had a lot of fun on some of the early Let's Plays (before they were called that) but when it's time to pick what I want to work on, I like to focus on narrative content (like RvB) and over-the-top live action shows (like Immersion and the podcast).
I was really bummed just last week when I had to be in Atlanta and could not participate in a really awesome live action shoot here in Austin. But I was in Atlanta for Immersion and the 10th anniversary live stream. So, I can't really feel bad about that. You just have to choose what you want to work on. --Burnie.
If you could be any type of tree, what type of tree would you be? (Gus said he would be a "tree that doesn't ask stupid questions" at NY Comic con 2011) Birch please, I'd be all types of trees. Oak-ay, but seriously, I've been pining to be poplar all my life, so I'd spruce myself up a bit and choose the Evergreen. --Barbara.
For the staff with kids, what do your kids think you do at work all day? My kids think I "rooster teeth" all day. They use it as a verb. I get home and they ask, "daddy, did you rooster teeth today?" And I say, sure did and it was awesome. I'm hoping they don't ever learn what "rooster teeth" is a euphemism for. - Matt.
If you had to get rid of one employee, who would it be and why? Joe the Cat.
Joel because he throws things at me and sends me videos of screaming cats.
Hey RoosterTeeth! Are there any plans to update/fix your iPhone app and perhaps add iPad support? I'd love to be able to watch my fave episodes on the go and it isn't working right now... YES! Working on our mobile presence is super high priority right now. We want to fix our iOS presence and make something for the Android market as well. It is on the roadmap of stuff to get to, we just have to finish up some other things first.
What moment in your career would be permanently burned in your memory? There are a bunch, most of them involving the community. I will still say that entering the ballroom for the first RTX and being almost physically overwhelmed by the energy and enthusiasm of that audience is something I will never forget. Also seeing Gus naked so many times is burned in memory too, but I'm wishing I could forget that. - Matt.
What "celebrity" actor would you love to have do a part in an upcoming season of Red vs. Blue? Lindsay Lohan or Olivia Wilde.
How does it feel to wake up every morning knowing you work for the greatest company in the world? With morning wood.
What can you tell us about Immersion? Can't wait to see Michael and Gavin in the new season. We have one new episode in the can. That will be a "between season" episode of the show. We are giving the TV networks a few more weeks to look at Immersion before we go forward there or take it off the table and makes Season 2 for the web.
Did the employees you hired out of the community (Gavin, Barbara) have the same character in person as they did on the site? We didn't hire anyone without actually meeting them first...
Hey Rooster Teeth , I have more of a request then a question. I am actually making a L4D2 map based on the RoosterTeeth office. pics! Now I'm wondering if you could give me a hand and send me a floor plan and/or some photos from around the office for reference, It would help me so much. Would you also like our alarm code you burglar???
a question, Was it awkward meeting Gavin for the first time, considering he was only 15? Gus.
Boobs or butts? Boobs.
Link to
How many episodes of Immersion 2 will there be? And what are you most excited to show us in the coming months? We don't know for sure. I have eight on paper right now, not including the one we just filmed. --Burnie.
Do you have plans for international organization such as Rooster Teeth UK or Rooster Teeth AU? Why on earth would we need that? That's a terrible idea.
Is that something you'd even consider? Gus.
Hi Roosterteeth. I'm sorry that I stole rvb to use as my internet handle. Seriously, I use it for everything. I only did it because I love you. Yeah, we will be filming a new intro for the podcast which will incorporate the listener submitted theme songs. Brandon said he wants to film the intros next week, but I don't know if we'll have the time. It is a priority and we hope to have it done in the next couple of weeks.
That being said, are podcast theme songs ever coming back? Podcast is just not the same without them. Gus.
How are babies made? Gus makes a note on his spreadsheet.
Simple question: Do you guys have as much fun at work as it seems? Absolutely, but there is even more work going on than you would think. It is the busiest job I've ever had.
Will there every be another actual season of RT Shorts? RT Shorts are back, and we are already working on new episodes of Season 5!
Gus, I love you. How are the shingles going? Long gone my friend.
Every job has its highs and lows, but Roosterteeth seems like an amazing company to work in. What are some of major lows about working at RT ? if there are any. Sometimes the work hours are really tiring and stressful. During our location shoot earlier this week I was incredibly ill. In fact I was so sick that I was laying on the ground trying to sleep and whenever I needed to be on camera I would load up on cold medicine and try not to hack up a lung. When you have limited time to accomplish a shoot you don't have the luxury of taking a day off.
What was it like to first realize how much Rooster Teeth was taking off? They told us to turn off our electronics, then the plane started moving really, really fast.
We talked about the early days on the Tenth Anniversary Livestream. That should be out soon if not already.
TL;DW It was crazy. We played catch up for most of the first year.
What would any of you say is the most significant technological development that has changed the way RoosterTeeth has operated in any capacity? The rollout of Adobe's Flash video codec really changed the way video is delivered on the web. It reduced our server costs by 2/3 overnight. And within a year we went from PAYING to host our own videos to being paid to do it.
What's the strangest thing you've ever found knocking about in the RoosterTeeth office? At the old office downtown sometimes bums would poop in milk jugs and leave them on our back door. Unless it was Joel doing that. Never asked. - Matt.
What are your hopes for RWBY? The trailers sure make it look amazing, and I'm curious about where you see this project taking your group in the future. I hope RWBY can do many things, the most important having people be able to identify with the many characters in the story. There will definitely be someone for everyone. I think that any art or writing can be good so long it resonates with a truth that the viewer can relate to.
For Barbara: Is there anyone in the company who supports your prolific use of puns? From a fan and fellow punster keep doing what you're doing! Every now and then Gus will give me props on one. Everyone else responds with groans. They don't know real humor.
What's the relationship that Rooster Teeth has with Tumblr? Caleb made one a little while ago -- are you guys doing anything else with it? Speaking personally, I love to see the enthusiasm that the Tumblr community has for RT and the people at RT. We don't really have a use for Tumblr for our own stuff, but we definitely recognize it as a great outlet for awesome community content.
Me, every time I get on Tumblr.] ([Link to
(But I do check FuckYeahBurnieBurns. Those people are smart as hell.)
Seeing as new episodes of Immersion are coming, what is the most fun you have had filming an episode of Immersion? This one we just shot was really fun, but probably my favorite Immersion shoots were the Video Game Car and Zombie Horde. The RTX attendees did a fantastic job on the horde video and every one was in such great spirits it felt like a big party. The video game car one was great because we were just figuring everything out and that discovery process is always fun. Plus we all had time at the end to actually drive the car and it was a blast. Little known fact - I had the fastest time around the track. I still suck at non-real life games. - Matt.
, thank you guys for all of your fucking awesome content. I've loved every minute of it. To whoever is there currently, what has been your career highlight? The highlight of my "career" (I guess technically it was when I started at RT) was the day it was announced that I was hired. I have never experienced such an out-pour of love, support, and kind words from so many people at once. It's a day I will remember for the rest of my life.
What has been the funnest thing you have done at the office your whole career there? I think I laughed the most when we were filming the short where Burnie steals Gus's beard. I literally had to hit record and leave the room for all of Burnie's dialog because I kept laughing out loud through every take. - Matt.
Hello Roosterteeth! What was it like for you when you signed your first autograph from a fan? It was weird. In my head I'm like, "I'm totally ruining this poster". I think the guy thought I was Kara. Oops.
Have you guys and girls all managed to stay friends inside and outside of the office? Totally. Except right now Joel is throwing rolled up pieces of paper at me and I don't like it. Fuck Joel.
Has any Rooster Teeth employee ever been arrested? Not while on the clock. Other than that, I don't know.
I have been handcuffed twice, once in Mexico. But never arrested.
P.S. Don't get handcuffed in Mexico.
Last updated: 2013-04-09 07:36 UTC | Next update: 2013-04-09 13:36 UTC
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[Table] IAmA: I am Cameron Winklevoss and I love me some Bitcoin AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-12-15
Link to submission (Has self-text)
Questions Answers
How can we be sure you're not Tyler Winklevoss? You can't. Sometimes I'm not even sure.
You went to quite a number of very good schools. What's your take on elitism and classism? Do you think that the networking possibilities there are more worth than the actual education? Elitism and classicism are for people who can't get by on merit alone.
So, do you have a facebook account? Yes.
Winklevosses, or Winklevii? WinkleBOSS.
Thank you for taking the time for this AMA. Where do you see Bitcoin in the future? How will it remain a viable currency? Small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines.
Have you sold any of your bitcoin? I have yet to sell a single bitcoin.
I just started rowing for my college, any tips? One of best ways to get gains is 90min steady state 3-6 times a week, HR @ ~150 BPM (75% of 220 minus your age)
We all learned of bitcoin at different times and in different ways. How did you learn of bitcoin? Partying on a beach in Ibiza, where else?
You know what's cool? A single bitcoin.
What has been the most defining experience you have had to date? So far, I would say rowing in the Olympic Games for the USA.
Do you ever wish Pacific Rim was real? Yes. Tyler and I would be be able to drift in Jaegers and beat down on Kaijus. Is that you Eli?
IPhone or Android? Both, however, Android is much more Bitcoin friendly.
Whats your favorite purchase made using Bitcoin thus far? Sriracha bacon lollipops.
What did you think of your portrayal in the Simpsons? Would you be a guest star if given the opportunity? Huge fan of the show, but didn't feel our portrayal was particularly clever, a missed opportunity for them but flattered nonetheless.
Favorite video game? Age of Empires.
Are you actively trading your bitcoin or are you just holding on to them? Do you think you can really predict price movements? Holding, Spartans hold. No, my crystal ball is broken ATM.
Cameron, what was the highlight of your time at Oxford? Dining with Harry Potter.
What is your favorite book? I have a couple, to name a few, Isaac Asimov's Foundation, Frank Herbert's Dune, Daniel Mason's The Piano Tuner...
What do you say to people who think your right hand is fake in your photo proof? Link to
Thanks for taking the time to do this AMA. Do you have any good resources for learning the ins-and-outs of Bitcoin? Link to is a good starting point for setting up a wallet, etc. Link to is an incredible resource.
Do you believe in BTC as a currency or only as a speculative vehicle? I view Bitcoin as commodity money.
Can I be you? No, but you can be Tyler.
Hi Cameron, I feel like watching a movie right now. Do you have any suggestions of what I should watch? Toy Story 1,2,3. (A did this marathon earlier today).
Do you see BTC 'replacing' currencies we have today, or being used alongside them? I view BTC more as an alternative to fiat currencies than a replacement.
Have you invested in any altcoins, if so, which and why? I have not invested in any altcoins because I don't believe that any of the "problems" or issues that they address can't be addressed by Bitcoin itself.
Do you think the unequal distribution of bitcoin / big gains of early adopters will be a deterrent in a more widespread adoption of bitcoins? No. Early adopters get bigger gains (as they should) because they take on bigger risk. A bitcoin can be divided into 100 million pieces, so I don't see divisibility or distribution as a problem.
Biggest regret outside of anything facebook related? That I haven't formed a band yet.
I understand that your ETF is only available to accredited investors. Why? Was this a decision on your part, or an SEC rule? Are you planning on opening it up to all people, not only accredited investors? Due to gun-jumping rules I can't speak about the Winklevoss Bitcoin Trust, however, ETP's and ETF's are NOT exclusive to accredited investors, any investor can purchase shares.
Considering your huge position in bitcoin and the huge volatility of the price, how does it feel riding the massive swings? Some days I don't even look at the price. I'm in this for the long-haul. Spartans hold.
Favorite Album? 80s Def Leopard: Hysteria 90s Smashing Pumpkins: Siamese Dream, RadioHead: Ok Computer, Alice in Chains: Dirt...
How good do you and your brother understand Bitcoin from a technical perspective? Like very specifically how certain aspects of it work (E.g: Proof-Of-Work, Cryptographic Hashing, etc)? Additionally, what are the biggest problems you see with bitcoin going forward? Pretty well. I've spent a lot of time self-educating on crypto, etc.. The beauty of open-source is that it adapts and evolves so I am confident it will do so as needed.
What is your Christmas wish this year? A triplet.
People have been asking you about the future of Bitcoins, but what do you see for the future of the US dollar? Will it be affected by all this quantitative easing? I'm not sure about the US dollar and nobody I talk to is either. What everyone is sure about, however, is that we are in completely unchartered waters. In the last 4 years alone the Fed has quadrupled the money supply. At some point the music has to stop?
What do you eat for breakfast? Egg white omelette usually. High protein.
How would you recommend someone should go about starting a Bitcoin group on a college campus? Looking for ways to do this but I can't think of any 'goal' or ways to entice people. Check out Link to
What is the biggest difference between you and your brother? I'm the goofy twin.
I think what he is saying is that people who are not smart or talented or hard working use family name, race, money, etc as a crutch to prop themselves up because otherwise, they are worthless. Correct! Perfect explanation. So much of what I love about rowing is how merit-oriented it is. The boat you're in doesn't care who you are, and what you have, only what you do.
Damn! This was my only chance to talk to a famous person! Hi Tester! Tyler says "hi" too.
I am honored! As am I. Thanks for taking the time out to join me.
I am a twin, me and my twin both did crew in high school, and we both have invested in Bitcoin. Just want to say that we both look up to you guys :) twin power! #Twinning!
I just really like the username you chose. That's all, have a good day. Merci.
Last updated: 2013-12-18 22:16 UTC
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