My thoughts on Bitcoin and other cryptocurrencies

People are often surprised with my view on this form of currency. Usually they think I'd be highly in favor of them and putting a lot of my own Listen to this billionaires 'old fashioned belief' about what you should and should not invest in: [ [MOBE DAILY](41475b/ct1_0/1?sid=TV2%3A7vBiiPDyn) [] [START YOUR BUSINESS](41475b/ct2_0/1?sid=TV2%3A7vBiiPDyn) [] [SCALE YOUR BUSINESS](41475b/ct3_0/1?sid=TV2%3A7vBiiPDyn) [] [GROW YOUR WEALTH](41475b/ct4_0/1?sid=TV2%3A7vBiiPDyn) [] MOBE Daily #145 "If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter." ~Warren Buffet Hey, For the last 6 months or so, one of the most asked questions I've been getting is, "What do you think about Bitcoin and other cryptocurrencies, and are you investing in them yourself?" The short answer is, no. I'm not investing in any cryptocurrency. My personal rule around investing is I only invest in things which I fully understand. And when I say 'fully understand,' that means I know exactly what's driving the price, and I can make predictions about where the price will be 10 or 20 years into the future. With cryptocurrencies I'll admit I'm extremely ignorant about how it all works. My understanding would be very similar to most of the population; I've had friends explain the principles behind it to me, watched coverage on it in the media, seen a few documentaries on it, etc. Am I calling the general population ignorant on how cryptocurrency truly works and what is truly driving the value? Yes I am. Most people think they know what is driving price - and most people think they understand what they are investing in. But as Mark Twain once said, "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." There's a lot of people engaging in just pure speculation right now, calling it investing. And I think that in the next few years, a lot of people are going to lose a lot of money. Not because crypto-currencies are a bad investment, or because they will crash. They'll lose because they are playing in a game without fully understanding the rules. And any gains they make leading up to that moment will only serve in giving them more mistaken confidence that they really do understand what's going on. There's a lot of similarities to what happened with the dot-com boom in the early 2000s. If you go and trawl through the news headlines from 2000 and 2001, you'll see they talk about how the economy had changed forever. The old economy was dead, and the 'new economy' was here to stay. Those words kept popping up everywhere; the 'new economy.' Whenever things looked over valued, the justification was 'this is the new economy - those old rules don't apply in this case.' With the benefit of hindsight, many people were doing exactly what I mentioned above. They were playing in a game thinking they understood the rules, when they didn't. One of the most famous examples of the dot-come mania was [Pets.com](41475b/ct5_0/1?sid=TV2%3A7vBiiPDyn), which launched with an IPO price of $11 per share in February 2000. By November of the same year, its stock price was $0.19 and it shut down, and the company had burned through 100s of millions of dollars. Many people invested when there was no real proven business model, and little demand for what the business was selling. This was a time where you could go and register a dot-com domain name, throw together a few staff, rent out an office, and you could get insane valuations for your company. It was all over the media. People were making seemingly easy money. People would invest, and six months later, their assets had gone up by thirty percent. Human psychology works in such a way that when people around us making seemingly easy and effortless money, we feel like we're missing out. It's the same thing that's happening now with cryptocurrencies. All kinds of different coins are launching, all your Facebook friends are bragging about how much money they're making, and if you've never invested in cryptocurrencies, you might feel like you're missing out. Fear of missing out is a terrible, terrible reason to invest. Now before anyone starts sending me hate mail or declaring I'm 'anti-crypto' I want to be very clear. I am NOT saying I'm anti-Bitcoin or anti-cryptocurrencies or that you personally should not invest. I'm just saying you should make sure you fully understand what you're investing in. Are you investing because you've looked at the fundamentals of the underlying asset, or are you investing just because you see a dot on a graph that seems to continue going up and up? Are you investing because you truly and fully understand the technology behind Bitcoin on a deep level, or just because everyone else around you is talking about how much money they're making and you don't want to miss out? If it's the latter, that's a terrible reason to invest. That is pure speculation borne out of a combination of hope and fear. Sure, you might make money in the short term. You might double your money in six months. But if you don't understand on a deep level what's driving those gains, you'll have no chance of predicting the declines in advance or on knowing when everything is overpriced. There's a book called The Intelligent Investor which I recommend you read. It's by a guy called Benjamin Graham, who was Warren Buffet's biggest influence on his investing philosophy. In particular, read chapter 8 out of that book. You can probably just google 'chapter 8 of The Intelligent Investor' and get it for free. You'll learn about 'Mr Market,' and this will help you a lot with your own personal discipline around reacting to price movements in any market. Another lesson to research, is Warren Buffett's 'circle of competence' lesson. Imagine a circle around you. Inside the circle are all the different investment opportunities that you truly understand. You understand what's driving the price, you can make future predictions and be relatively certain about them. Outside the circle are all the investments you don't understand. In my case, that would include any cryptocurrencies. My surface-level understanding is nowhere near deep enough to put them inside my circle. There's very few asset classes which I do invest in, but I make sure I fully understand them. So don't just invest in some cryptocurrency (or anything) that just launched two days ago and everyone is saying the price is about to multiply 10x in the next year. Instead do your research, know the underlying asset, know your circle of competence and don't succumb to the fear of missing out. One of the main topics I cover every month in '[MOBE Advantage](41475b/ct6_0/1?sid=TV2%3A7vBiiPDyn)' is investing – how to invest in stocks, real estate, precious metals, protecting your wealth and adopting the right investing mindset. If you'd like an issue for free (just help me cover shipping) then let me know [here.](41475b/ct7_0/1?sid=TV2%3A7vBiiPDyn) [] [] [MOBE Daily#145-1](41475b/ct8_0/1?sid=TV2%3A7vBiiPDyn) [] How to Reach Your Full Potential Lake Mead contains a few trillion gallons of water, held back by the tons of concrete that make up the Hoover Dam. This water represents your full potential – your dreams and goals with respect to your income, relationships, fitness, health and lifestyle. The volume of it is more than you could ever imagine. However, there is a great dam holding it back from entering the valley down below. It doesn't have to be that way. Every person can take down the dam and flood the valley with their full potential. In [this video](41475b/ct8_1/1?sid=TV2%3A7vBiiPDyn), filmed at the [Titanium Mastermind](41475b/ct9_0/1?sid=TV2%3A7vBiiPDyn) in Phuket, Thailand, JT DeBolt talks about reaching your full potential. [] [] [MOBE Daily#145-2](41475b/ct10_0/1?sid=TV2%3A7vBiiPDyn) [] Social Media Marketing is About Solving Problems You've heard all the buzz about social media marketing and most likely started doing it in your own business. But do you know WHY you're doing it? Often, business owners will open a Facebook page because they've heard that they should, but there's no purpose or strategy behind what they're doing. Here's the real reason to market on social media. It's the perfect platform to listen to people's problems and then to deliver solutions to them. Take this approach and you'll start seeing better results from your social media marketing. Paul O'Mahony explains more in [this video](41475b/ct10_1/1?sid=TV2%3A7vBiiPDyn), filmed at the [Traffic Summit](41475b/ct11_0/1?sid=TV2%3A7vBiiPDyn) during the [Titanium Mastermind](41475b/ct9_1/1?sid=TV2%3A7vBiiPDyn) in the Dominican Republic. [] [] [MOBE Daily#145-3](41475b/ct12_0/1?sid=TV2%3A7vBiiPDyn) [] Find a Way to "WOW" Your Customers Is there something you can do to go "over and above" for your customers? Make a kind gesture that they totally won't expect and will make them say "wow!" When you do this for someone, they are your customer forever. They'll love doing business with you because they can see that you care about them. In [this video](41475b/ct12_1/1?sid=TV2%3A7vBiiPDyn), filmed at the [Traffic Summit](41475b/ct11_1/1?sid=TV2%3A7vBiiPDyn) at the [Titanium Mastermind](41475b/ct9_2/1?sid=TV2%3A7vBiiPDyn) in the Dominican Republic, Darin Adams gives some examples of businesses that "wow" their customers. [] Talk soon! Matt Lloyd [] [Matt Lloyd](41475b/ct13_0/1?sid=TV2%3A7vBiiPDyn) [] [] [Matt Lloyd] [] [Snapchat mattlloydmobe](41475b/ct14_0/1?sid=TV2%3A7vBiiPDyn) [] [FREE BUSINESS TRAINING](41475b/ct15_0/1?sid=TV2%3A7vBiiPDyn) [] [ASK MATT LLOYD](41475b/ct16_0/1?sid=TV2%3A7vBiiPDyn) [] [SUCCESS STORIES](41475b/ct17_0/1?sid=TV2%3A7vBiiPDyn) [] [] [] SHARE THIS CONTENT... [] [] [Facebook](41475b/ct18_0/1?sid=TV2%3A7vBiiPDyn) [Twitter](41475b/ct19_0/1?sid=TV2%3A7vBiiPDyn) [LinkedIn](41475b/ct20_0/1?sid=TV2%3A7vBiiPDyn) [Forward to Friend](41475b/ct21_0/1?sid=TV2%3A7vBiiPDyn) [] LET'S CONNECT! We are all busy but hopefully we can connect on the platform that’s most convenient for you. [] [JOIN FACEBOOK GROUP](41475b/ct22_0/1?sid=TV2%3A7vBiiPDyn) [] [Instagram](41475b/ct23_0/1?sid=TV2%3A7vBiiPDyn) [] [WATCH THE LATEST VIDEOS](41475b/ct24_0/1?sid=TV2%3A7vBiiPDyn) [] [] [TRY THE NUMBER ONE MARKETING SYSTEM](41475b/ct25_0/1?sid=TV2%3A7vBiiPDyn) [] [] [] You’re getting this email because you subscribed to my list at some point...if you no longer want to hear from me, there's a link right at the bottom you can use to unsubscribe. SUPPORT: If you have a question or comment, contact support at: [(41475b/ct26_0/1?sid=TV2%3A7vBiiPDyn) Got a question for Matt Lloyd? Ask him here: [](41475b/ct27_0/1?sid=TV2%3A7vBiiPDyn) Your daily dose of inspiration for building your MOBE affiliate business: [](41475b/ct28_0/1?sid=TV2%3A7vBiiPDyn) Get Traffic For Your Business: [](41475b/ct29_0/1?sid=TV2%3A7vBiiPDyn) How To Get MOBE To Promote Your Product: [(41475b/ct30_0/1?sid=TV2%3A7vBiiPDyn) MOBE is now hiring - details here: [(41475b/ct31_0/1?sid=TV2%3A7vBiiPDyn)> Access all your MOBE products and partner tools here: [](41475b/ct32_0/1?sid=TV2%3A7vBiiPDyn) Attend the next live MOBE event here: [](41475b/ct33_0/1?sid=TV2%3A7vBiiPDyn) Join my Facebook community here: [(41475b/ct22_1/1?sid=TV2%3A7vBiiPDyn) Copyright Notice: All of the emails and content I send to you is copyright protected. If you’d like to have my team write your emails for you, with our legal permission to use them, you can use this service: [(41475b/ct34_0/1?sid=TV2%3A7vBiiPDyn) Disclaimer stuff to state the obvious: I’m a marketer - I promote my own products. Often, I like to pass along testimonials of atypical results from my top achieving members. Please don't assume you'll duplicate their results It takes hard work, dedication, and persistence to make it in this industry (but believe me, it's worth it!). [] Copyright © 2018 MOBE, Ltd. Our address is Soho Suites at KLCC B1-PH, Jalan Perak, Kuala Lumpur 50450, Malaysia If you do not wish to receive future email, [click here](41475b/q-03b7/zout?sid=TV2%3A7vBiiPDyn). (You can also send your request to Customer Care at the street address above.)