Scott, may I ask you why to trust Bitcoin? A lot of people say it’s just a bubble.
It is very volatile and risky, and it will crash eventually, but it will also continue to rise and be a hedge against inflation. Just like the internet 2.0 that we have today could have been a bubble, blockchain is like the internet 3.0.
Is Bitcoin really anonymous like they claim?
No, it isn’t. Everything is on the public ledger, but it becomes very hard to track if you have multiple wallets, move your coins around, etc. There are also many ways to use cryptocurrency more anonymously and you can withdraw it at say a Bitcoin ATM. So while it’s not actually anonymous, it is significantly better for privacy compared to regular fiat currency even with a fully public ledger.
Which crypto wallets do you use and why?
I use a few different wallets as needed. I have a ledger for my offline storage for most of my crypto. I use Metamask for buying and selling ERC20 tokens. Then I also have Trust wallet for some other currencies and DashPay for day to day usage. I also have many native wallets like for Hive and LBC. Most of these wallets just come with signing up to those various platforms.
Can we trade Bitcoin without an exchange, because many people are afraid they will be hacked there?
There are many alternatives whether it’s peer to peer, swag exchanges, many wallets have exchanges built in, you can spend your bitcoin, or you can always swap into a currency that can trade on a decentralized exchange like Ethereum trading for tokens on Uniswap. Do not store your funds on an exchange.
Can we make money or big profits with just mining Bitcoin?
Normal people likely cannot turn a profit anymore. You may be able to make a few dollars with a graphics card, but you have to dedicate so much energy and the usage of your computer or device for mining over whatever else you’d use it for.
What can people actually buy with Bitcoin or other cryptocurrencies?
Depending on where you live, anything. Bitrefill has gift cards for many countries, and you can pay your bills in Europe, Australia, and Canada, and there are crypto prepaid Visa solutions for spending any crypto just like a Visa card at physical stores or online all of which I’ve tested and use.
Who is Satoshi Nakamoto? Your honest opinion about that?
No idea, but definitely not Craig Wright.
Hashgraph Or Blockchain? Which one is better?
Don’t know enough about hashgraph, so I’ll have to say out of ignorance and bias that the blockchain is better.
What do you think about Dogecoin?
I think it’s a joke and it’s way too risky. For the sake of believers and Elon Musk, I hope they win and it goes to $1.
You gained a lot of followers and views on your channels everywhere, which is amazing! How do you feel about that?
I’m very grateful, and I want it to be a testament to using these platforms and doing everything that I share. More importantly, that you can earn money from this and earn enough that could be life changing.
Do you think that blockchain can be the solution for independent musicians, artists?
Yes absolutely. I also make music on the side, and I would love to see better music solutions. I’ve tried several, but most have fallen off or aren’t getting the attention they deserve. I think it will be huge for distribution, copyright management, monetization, and much more.
In what can people invest to gain a profit from cryptocurrencies – trading, mining, staking, blogging…?
In a bull market, they should invest directly and hold. If you have spare time, blog and use blockchain social platforms to earn crypto. In a bear market, it’s worth exploring staking, tokenized real estate, and more ways to earn passively.
Do you think that cryptocurrencies will be banned, regulated (taxed) or they will survive in the future? Your opinion is?
I don’t know enough about government regulation to have much of an opinion, but considering many banks are adopting it, we even have Versabank in Canada launching their stablecoin soon, I don’t see it being overregulated. It may be regulated more than what we see today, though. Taxes will come, but there are also many ways to avoid taxation with crypto.
Where were you when Bitcoin had started, created?
11 years ago, I was 15 probably in grade 10 in high school. I was getting a lot more into technology and was running a for profit Minecraft server at the time and working at McDonald’s. I wouldn’t find Bitcoin until near the end of university in 2016 and then actually invest in 2017.
Blockchain and artists? Where can artists earn cryptocurrencies with their works?
On social platforms by sharing their content as well as on digital marketplaces whether it’s selling art directly or in the form of NFTs. There is a huge growing market for tokenized art, NFT art, music, and many different forms of art on the blockchain right now.
© PHOTO COPYRIGHT – SCOTT CUNNINGHAM
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Interview questions by Sasha Raven