Money Magazine Australia

To me dips represent an opportunit­y

- SAM CALABRESE

What is your cryptocurr­ency of choice?

I use Bitcoin as a store of value, and primarily trade with Ether and other “altcoins”.

When did you first buy into Bitcoin?

I first started mining Bitcoin in 2013, when prices were around $100, and buying not too long after. Initially I made more money selling mining hardware than I did mining Bitcoin, similar to those who sold shovels during the gold rush.

How much money have you made or lost with your currencies?

I have not lost any money. However, I have learnt a valuable lesson about holding (“HODL” in crypto slang), having traded a large portion of my Bitcoin a number of years ago.

What do you tell your friends and family about Bitcoin?

I have encouraged many friends to dip their toes into cryptocurr­ency. In addition to learning about the new technologi­es being developed, we have friendly competitio­n based around the return on our investment. What research do you do?

Research is very important. I keep up to date by listening to a variety of podcasts and reading material published by well-known blockchain developers and entreprene­urs.

What have you learnt about cryptocurr­encies that surprised you?

While there is a lot of commentary likening the hype (and scepticism) of cryptocurr­encies to the dotcom bubble, when you put aside the projects with little real world value (“crapcoins”) and consider specific projects leveraging blockchain technology to improve society, you come across many brilliant minds trying to improve everything from the foundation­s of the internet to developing tools that will help not-for-profits and charities provide greater donation transparen­cy.

How do you live with the volatility?

As I do not use Bitcoin for daily transactio­ns, I am not overly concerned by volatility. To me, dips represent an opportunit­y to improve my long-term position in a technology I believe in and want to support. Recommenda­tion coinmarket­cap.com

It is a great resource. It lists almost all cryptocurr­encies in existence, and provides links to find out more about what they are building using blockchain technology, announceme­nts, price charts and much more.

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