Palm Beach Confidential Review

Since I started writing about cryptocurrencies in 2016, I told anyone who followed me on this trend to buckle up… that it’d be a wild, roller-coaster ride. And 2021 will be no different.

By Teeka Tiwari, editor, Palm Beach Daily

Since I started writing about cryptocurrencies in 2016, I told anyone who followed me on this trend to buckle up… that it’d be a wild, roller-coaster ride.

And 2021 will be no different.

It will be full of highs and lows. You will experience eye-watering rallies and heart-stopping selloffs. That’s the nature of a wild crypto bull market.

We saw that at the beginning of the year… when bitcoin rocketed to new highs on its way to $41,000 on news of major adoption from institutional investors like MassMutual.

And we’re seeing the flip side today, with bitcoin down 25% from its highs after some critical testimony from the U.S. Treasury Secretary nominee on Tuesday… and the exploitation of a glitch in the code of certain bitcoin wallets.

I’ll get to both of these issues today. But what I want you to realize is this volatility is short term.

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Yellen On the Warpath

Right now, bitcoin is selling off because incoming Treasury head Janet Yellen made some critical comments about it during congressional testimony. Yellen said cryptocurrencies are “mainly” used for “illicit” purposes.

Her comment shows a stunning lack of understanding of cryptos. The bitcoin network sees 400,000 transactions per day. It is ludicrous to imagine the majority of those are for illegal activities.

We should only hope terrorists are stupid enough to use the bitcoin network to fund their operations. That’s because when law enforcement ties a single terrorist to even one bitcoin transaction, they can unravel the finances of the entire terror network.

Try doing that with fiat cash. You can’t. You can do it with bitcoin because it uses a public blockchain. That means every transaction is public and can be traced from one crypto wallet to another.

The whole world can see how you spend and move your money. Using bitcoin to commit crimes is just about the dumbest thing a criminal could do.

Cash is the preferred tool for criminals and terrorists. About $3.5 billion per year is funneled into terrorist organizations. Do you really think some terrorist in a cave is going to accept bitcoin over good old-fashioned American greenbacks?

Try buying an AK-47 in Afghanistan with bitcoin. Good luck with that.

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Again, I hope terrorists are dumb enough to use bitcoin. That way, our intelligence forces can track them down. Now, does that mean terrorists or drug dealers have never used bitcoin?

Of course not. At some point, just about all technology gets used by criminals, whether it’s bad guys using Facebook to recruit suicide bombers… or using Twitter to spread propaganda… or using encrypted iPhones to carry out attacks.

Should we shut down Facebook and Twitter? Should we confiscate everyone’s iPhones?

We don’t because these types of nefarious use cases represent a tiny fraction of the legitimate uses of these technologies.

The same is true for bitcoin.

Chainalysis, a blockchain analytics firm, estimates 1% of bitcoin transactions are used for illicit purposes. That amounts to about $10 billion. Sounds like a lot, right?

But let’s compare it to cash. According to a report from Deloitte, as much as 5% of all cash transactions involve money laundering. That’s as much as $2 trillion per year.

That means illicit transactions in bitcoin are just 0.5% of the $2 trillion. So it begs the question: Why is Janet Yellen focusing on 0.5% of the money laundering problem and ignoring the other 99.5%?

I’ll tell you why…

It’s because her banking buddies in the traditional financial system are the ones allowing all of that money laundering to take place.

Shouldn’t her focus be cleaning up the banking system rather than wasting precious resources on the rounding error of illicit activity represented by bitcoin?

The real truth of the matter is Yellen hates that bitcoin can’t be controlled. It represents a way out of a dollar-denominated system, and that scares her.

And while she may try to “jawbone” the crypto markets lower (like she’s doing now)… all it will do is provide us with another buying opportunity.

Now, political rhetoric isn’t the only thing driving bitcoin lower right now. There’s another technical issue I want to bring to your attention.

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There Will Be Epic Scares Along the Way, Too

In 2010, sharp-eyed developers spotted a flaw in the bitcoin code that allowed a bad actor to create 184 billion bitcoins.

As you can imagine, this was a serious problem. Much of bitcoin’s value comes from the immutability of its code… and the fact it will only ever create 21 million bitcoins.

This flaw in the code threatened to destroy bitcoin. But because bitcoin is an open-source protocol, developers fixed the flaw within just 90 minutes.

That’s the difference between an open system like bitcoin and a closed system like that of Solar Winds… which led to the recent hacking of just about every major government system in the United States.

All software has flaws. Bitcoin has had 40 major flaws over its lifespan. Some of them, like the bug outlined above, have been potentially devastating. But every time, the community has come together and fixed it.

Remember: The participants of the bitcoin network are incentivized to defend it fervently. That’s because a single flaw in the code affects everyone that holds bitcoin… not just one person or wallet.

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It’s bitcoin’s elegant incentive mechanisms that have allowed it to survive and thrive. Even now as I write this, a story is circulating on Cointelegraph of a potential “double-spend” bug that resulted in a small sum of $21 being “double spent.”

A “double spend” is when someone can spend the same amount of bitcoin twice. But subsequent reports have stated this didn’t actually happen… and was due to two blocks being minted almost simultaneously to validate a transaction.

This created the impression of a “double spend.” Luckily, bitcoin’s code ensures there can only be one winning block that will carry on the chain.

The bottom line is: The network will defend itself because the core developers have billions of dollars of collective wealth tied up in bitcoin.

The same way Jack Dorsey, Jeff Bezos, and Mark Zuckerberg act with lightning speed to fix glitches in their software to defend the hundreds of billions of dollars of wealth they have in their respective shares… so will the bitcoin community defend the network.

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Bitcoin Is Here to Stay

With all these fears and doubts, bitcoin has still managed to grow from having zero value to recently being worth over $588 billion. That’s bigger than JPMorgan… it’s even bigger than Berkshire Hathaway. At what point will people finally stop calling it a bubble?

Have you ever seen a 10-year bubble that inflated… popped… reinflated another three times… and then go on to be worth $588 billion? I haven’t. And I’ve been in the financial markets since 1989.

If you strip away your fears and look at the real, hard facts, you can’t come to any other conclusion than that bitcoin is here to stay.

For more than 10 years, bitcoin has survived every attack against it – from anti-crypto politicians to technical problems that temporarily created 184 billion new coins.

It’s time to accept bitcoin’s reality… People of massive wealth and influence have even concluded that bitcoin is a better version of gold.

I want you to remember the lesson of the past 10 years. Bitcoin might get bashed. Bitcoin might get bruised. But bitcoin will recover.

That’s why the key to surviving these periods is to hold tight. And if appropriate for you, use these crashes to buy more.

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As you know, cryptos have long been one of my favorite ways to make asymmetric bets – where you can take a small starting stake and turn it into life-changing wealth.

But they’re not the only kind of asymmetric bet I’ve personally used to grow my own wealth…

Right now, there’s a frenzy going on in one hyped-up corner of the market that’s promising to make millionaires. But most people don’t know Wall Street has once again stacked the deck in its favor, and average investors are only setting themselves up to get burned.

On Wednesday, January 27, at 8 p.m. ET, I’m holding my first big event of the year to unmask what’s really going on and what you can do to help secure your financial freedom… not in 20 years like Wall Street wants you to, but potentially this year.

Click here to join me.

Plus, I’ve prepared something special for everyone who reserves their spot today… Tune in next Wednesday to find out more details.

Teeka Tiwari believes the Decentralized Finance, or DeFi for short could be the biggest boom in crypto since the initial coin offering (ICO) craze of 2017.

By Teeka Tiwari, editor, Palm Beach Daily

Over the last half of 2020, I spent plenty of sleepless nights poring over white papers… reading obscure journals… and reaching out to my network of insiders to get to the bottom of a new trend.

And based on what I’ve uncovered, I believe it could be the biggest boom in crypto since the initial coin offering (ICO) craze of 2017.

The name of the trend is Decentralized Finance, or DeFi for short.

I believe it’ll disrupt our entire financial system the same way the internet disrupted retail.

Over the next decade, DeFi will radically change the way you bank… borrow money and lend money… and receive loan approvals.

And if you position yourself now, I believe you can change the course of your financial life forever… without putting your current lifestyle at risk.

Decentralized Finance is disruptive because it removes the need for many of the “middlemen” that dominate our financial lives. It’s estimated traditional financial middlemen suck out 6% of the value of global GDP annually. That’s $8.5 trillion per year in fees. It’s a massive number.

Fintech firms like Robinhood and Lending Club have tried to dislodge the traditional firms. And so far, they’ve failed. The problem is cost and scale. These fintech firms just can’t scale fast enough to put a decent dent in the traditional players.

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Fintech firms are hamstrung by massive ongoing costs that all financial firms must bear. Rather than doing anything different from the traditional guys, they’re following right along in their footsteps.

For instance, while heralded for offering commission-free trades, Robinhood was compensated for selling its customers’ orders to other firms. It all but guaranteed Robinhood customers would get poor execution prices on their trades.

Backdoor compensation deals like this sound like the same old financial system to me. And that’s why these firms have failed to distinguish themselves meaningfully from their more established peers.

But that’s all changing… And it’s thanks to the blockchain and smart contracts.

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Smart contracts are computer programs that live on blockchains, allowing them to act autonomously without any human involvement.

This has created a new type of “company” owned by no single central authority.

I know that sounds like a recipe for chaos. In some instances, that’s exactly what’s happened. But in others, we have seen this technology give birth to projects that’ll one day rival Google, Amazon, and Facebook in size, reach, and global influence.

Here’s the great advantage of DeFi: You’ll no longer need to rely on a trusted middleman like credit card companies, banks, mortgage companies, and even traditional savings accounts, for your financial needs.

All that commerce can migrate to DeFi applications.

Here’s the key point to understanding why DeFi will be huge: When you can eliminate the need for a trusted third party… you can dramatically lower costs. When you dramatically lower costs, adoption of the technology is a “done deal.”

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Virgin Territory = Massive Opportunity

There’s no playbook for DeFi. We’re in brand-new virgin territory. And I love that because if you want to change your life (but don’t want to risk a lot of money)… you must get into massive trends early.

Helping my readers identify, understand, and invest in these trends is why I write these newsletters. That’s why today I want to explain the lowest-risk, highest-reward way to profit from the DeFi trend.

Before I do that, let me be clear: All crypto investing involves risk, and today’s idea is no exception. However, unlike much smaller plays that have the chance to go up 100-fold or more, this more conservative play has the opportunity to go up “only” 8x.

It has less upside, but it also has far less risk. And so that’s why I call it my “lowest-risk highest-reward” crypto play for the coming DeFi boom.

The name of the project you want to own is called Ethereum.

I’ve picked Ethereum as my lowest-risk, highest-reward DeFi play because it’s the primary blockchain DeFi developers are building on.

Buffett Dumps $800M Of Apple, Buys This Instead!

Today, hundreds of thousands of software developers are flocking to Ethereum the same way developers flocked to Microsoft’s operating system in the 1980s and ’90s.

In many ways, Ethereum is the Microsoft of this era. Since going public in 1986 with a $583 million market cap, Microsoft has grown into a $1.6 trillion giant. It’s taken 35 years for Microsoft to gain that valuation.

Due to the explosive growth of DeFi, I believe we could see Ethereum hit 50% of Microsoft’s value this year.

Over the long term, I believe Ethereum has the potential to grow into the world’s most valuable software platform.

To my eyes, Ethereum is wildly undervalued. Even at over $1,000 and a $120 billion market cap… I believe Ethereum is a bargain relative to its development trajectory.

As more developers and users move to Ethereum for their DeFi needs… more value will accrue to ether (ETH), Ethereum’s native token.

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But “Penny Trades” aren’t reserved for billionaires like Buffett.

Thanks to SEC loophole 30.52, you can play them in your brokerage account.

• One of these “Penny Trades” shot up 183% in one day…
• Penny Trades can pay far MORE than stocks…
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More Room to Run

With 200,000 developers now working on Ethereum, it has a massive moat. And for much of 2020, the token was wildly undervalued.

That’s why on September 23 last year, I sent a video update to my Palm Beach Confidential subscribers urging them to buy ether while it was “crazy cheap.”

Despite a 256% gain from its March low of $90, I told them of the large-cap crypto projects, Ethereum had the best low-risk, high-reward setup.

In that video, I pounded the table and told everyone to use that opportunity to get into ether or increase their positions if it suited their risk tolerance. Today, the coin trades above $1,000 – up 205% from that recording.

Yet, it’s still undervalued.

Ethereum is disrupting the entire $20.5 trillion financial industry. If it can just capture about 2% of global finance, it would be worth between $400 billion and $800 billion. That makes it about a 4x to 8x gain from current prices.

Long term, I expect Ethereum will have a multitrillion-dollar market cap.

So, I’m raising my ETH buy-up-to price from $550 to $1,400.

Friends, DeFi is going to change the world. And Ethereum will be the platform that serves up that change.

If you already own ETH, consider adding more to your portfolio (if appropriate). If you don’t own it, buy some today… because it still has plenty of runway left.

And don’t worry about volatility. I don’t care if ETH drops 50% tomorrow, and neither should you. Forget about the short-term volatility and focus on the long-term trend.

If you can do that, I believe you’ll look back on your decision to buy ETH as one of your best investment decisions of 2021.

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While I expect Ethereum and DeFi to really take off in 2021, there’s another crypto trend to keep an eye on… In fact, I believe it could even become the No. 1 investment of the decade.

If you want to set yourself up for explosive crypto gains in 2021 and beyond, check out my presentation right here.