Understanding Bank Accounts Outside the Country and Cryptocurrency

For Americans, navigating bank accounts outside the country can be challenging, even for convenience's sake. However, with the rise of stable coins and cryptocurrency, many people are starting to explore alternative options that offer greater flexibility and security. While some banks have traditionally been slow to adopt these new technologies, they are rapidly gaining ground. As a result, the traditional banking model is becoming less relevant, and consumers are beginning to turn to more innovative solutions.

One of the main barriers to entry for Americans interested in cryptocurrency is the perceived volatility of the market. This can be daunting for those who are new to investing in cryptocurrencies. However, it's essential to understand that crypto prices can be cyclical, similar to commodities like natural gas or oil. In other words, there are periods of high demand and low supply that drive up prices, followed by periods of low demand and high supply that drive down prices.

To better navigate the cryptocurrency market, experts recommend adopting a more nuanced approach. Rather than buying in when prices are low, hoping to sell at a profit later on, it's essential to understand the underlying fundamentals of each cryptocurrency. This includes factors like adoption rates, regulatory environments, and market trends. By taking a more informed and strategic approach, investors can make better decisions about which cryptocurrencies to invest in and how much to invest.

The Pareto Network is one resource that can help investors navigate the complex world of cryptocurrency. Founded by Eric Vickers, the network offers a comprehensive platform for analyzing and understanding the cryptocurrency market. With its focus on providing objective information and insights, the Pareto Network has become a go-to destination for those looking to stay informed about the latest developments in the space.

One of the key challenges facing the cryptocurrency industry is the lack of standardization and categorization. Unlike traditional assets like commodities or securities, cryptocurrencies don't fit neatly into one category. This can make it difficult for investors to understand how to value and price them. The Pareto Network recognizes this challenge and has developed a proprietary framework for categorizing and analyzing different types of cryptocurrencies.

As the cryptocurrency market continues to evolve, it's essential for investors to stay informed and adapt their strategies accordingly. By leveraging resources like the Pareto Network and adopting a more nuanced approach, investors can make better decisions about which cryptocurrencies to invest in and how much to invest. While volatility is always a risk, it's also an opportunity for smart investors who are willing to take a long-term view.

Investing in Cryptocurrency: A Cyclical Market

The cryptocurrency market can be viewed as a cyclical market, with prices fluctuating in response to changes in supply and demand. This is similar to traditional commodities like natural gas or oil, which also experience periods of high demand and low supply that drive up prices. However, the cryptocurrency market is more complex due to its decentralized nature and lack of standardization.

One key aspect of the cyclical nature of the cryptocurrency market is the phenomenon of "crypto crashes." These occur when prices drop rapidly, often in response to a combination of factors including regulatory uncertainty, security breaches, or market sentiment. While these events can be unsettling for investors, they also present opportunities for those who are willing to adapt and take a long-term view.

As the market continues to evolve, it's essential for investors to develop a deeper understanding of the underlying fundamentals that drive prices. This includes factors like adoption rates, regulatory environments, and market trends. By taking a more informed approach, investors can make better decisions about which cryptocurrencies to invest in and how much to invest.

The Pareto Network offers a comprehensive platform for analyzing and understanding the cryptocurrency market. With its focus on providing objective information and insights, the network has become a go-to destination for those looking to stay informed about the latest developments in the space.

A Look into Cryptocurrency with Eric Vickers

Eric Vickers is a pioneer in the field of cryptocurrency and founder of the Pareto Network. His expertise in this area has been shaped by years of experience and research, making him one of the go-to experts for those looking to navigate the complex world of cryptocurrency.

The Pareto Network was born out of Eric's desire to provide a comprehensive platform for analyzing and understanding the cryptocurrency market. With its focus on providing objective information and insights, the network has become a valuable resource for investors and enthusiasts alike.

As we discussed earlier, the cryptocurrency market is characterized by volatility and uncertainty. However, with the right resources and knowledge, it's possible to navigate this landscape effectively. The Pareto Network offers a unique perspective on this challenge, providing investors with the tools they need to make informed decisions about which cryptocurrencies to invest in and how much to invest.

By leveraging the insights and analysis provided by the Pareto Network, investors can gain a deeper understanding of the underlying fundamentals that drive prices. This includes factors like adoption rates, regulatory environments, and market trends. By taking a more informed approach, investors can make better decisions about which cryptocurrencies to invest in and how much to invest.

Conclusion

The cryptocurrency market is a complex and dynamic space, characterized by volatility and uncertainty. However, with the right resources and knowledge, it's possible to navigate this landscape effectively. The Pareto Network offers a comprehensive platform for analyzing and understanding the cryptocurrency market, providing investors with the tools they need to make informed decisions about which cryptocurrencies to invest in and how much to invest.

As we look to the future, it's essential for investors to stay informed and adapt their strategies accordingly. By leveraging resources like the Pareto Network and adopting a more nuanced approach, investors can make better decisions about which cryptocurrencies to invest in and how much to invest. Whether you're a seasoned investor or just starting out, understanding the cryptocurrency market requires a deep dive into its underlying fundamentals.

Stay ahead of the curve with expert insights from Eric Vickers and the Pareto Network.

"WEBVTTKind: captionsLanguage: enand now we are joined by Eric lamis and white eric is an expert in Bitcoin and he just got a patent in stable coin and let's bring him on here right now and then Eric I've got some questions for you hello hello how are you doing great thanks so much for hopping on so let's just walk through you know since we're gonna talk about Bitcoin I figured maybe we'd start off we're just walking through what you do and how you're involved with it and maybe just a quick what I always like to hear this for anybody who works for Bitcoin what your real quick definition of Bitcoin is oh sure sure I mean Bitcoin is a form of peer-to-peer electronic cash it's but it kind of function is just more benignly as gas to use a database and that that's really what people are using it for what my company uses any blockchain or distributed ledger for is just to be able to use that public resource and so for us you know my role in the space is a market insight platform that use it you know blockchains primarily to drive how you know the information is curated so we like low prices so a lot in a lot of businesses much like any like oil user once you know lower prices of the gas that powers their economy so you know the speculative angle is not really that important right that's I mean that's a good point your low prices is an important part of no matter whatever the economy is and so you work in you work in this field how did you get involved in in Bitcoin and blockchain in general uh well that goes back a really long time basically I remember a long time ago I was working on a mobile wallet back in may be 2011 and the company just couldn't get the approvals necessary actually transmitted money but all of a sudden here comes this free open source you know Bitcoin wallet that does exactly what we wanted to do and so we were just like what are we doing with our lives and I just think watching it see if it actually works you know you just kind of go through the emotions like this shouldn't work hey it's still working why is it working so that's pretty much how I got involved well you uh you know I think that let's talk about what it is that you're doing right now and what you just got your patent for because you know one thing with Bitcoin I think for anybody who follows along is it seems to be really volatile I mean I was just reading this morning about how the price is dropped you know just on Bitcoin in particular I think it's like almost 10 grand over just this year alone and then you know at some point it could completely spike back up again so maybe that kind of explains what you're doing let's talk about this stable coin and what that is and and what your patent is right yes so a lot of people are flocking to stable coins as the volatility has really you know shaken their confidence and net worth so yeah with that in mind stable coins are just some way to stay inside the you know crypto ecosystem but have stable value usually it's a parallel digital asset that is tied to the price of a US dollar or something like that or another national currency and so people don't have to cash out and they just stay in and continue commerce as well as being well-positioned to speculate when they when they want without having to deal with bank transfers and delays and things like that so it helped you basically not to lose as much money if you were that is exactly that is exactly what people can use stable closed foreign and are using them for so there are a lot of stable coin projects just this quarter on they've really started proliferating so a lot of founders are consolidating a lot of capital meeting a lot of funding to launch these stable coin projects so that's last I checked there's probably over 50 different stable coin products already on the market and I would say the consumer hasn't really caught on to this yet but it is something that is really hot right well so you filed for yours in 2014 I believe was that correct yes so I have a I have a stable coin patent actually have it right here nice oh is that wait hold that back up I want to take a look at that again yes what the government says you nice congratulations thank you thank you so great it just goes into a lot of different details but um yeah so my patent describes what is now colloquially called stable points or one implementation basically usually there is a parallel asset that people move all their money to into this implementation doesn't pull value away from you know the actual cryptocurrency so like people consumers would be able to have their peer-to-peer electronic cash without and speculators which get a lot more demand going into Bitcoin so you get you know your scarcity you get your greater prices for the consumers who shouldn't be speculating at all still get their stable value so how does like how would a bank fit into this how does like a traditional style of currency fit in with this yes so it really changes the roles the long story short is they might not they don't but they can you know as a as an institution that gives custody to your assets they they don't necessarily fit in but they can make things extremely convenient so they can adapt they can still extract value in some way but you know ultimately what you have is that you know consumers don't need them and businesses also also don't need them a lot of crypto companies for example don't have bank accounts and they don't need them you know on the legal side it's been extremely hard it's been made extremely hard for Americans to get you know bank accounts outside the country just even for convenience sake but with stable coins and cryptocurrency you know a lot of people's don't think about it they they're not big never really encountered that friction and it's never stopped anyone and so the banks that have been used to limit this really you know just have diminished relevance yeah I think that's that's probably a kind of a common theme for a lot of this and you know as people are moving into in any kind of cryptocurrency but one of the things that I think may keep people away from it or may you know worry people which is obviously what you know your stable core is trying to address but talking about the volatility back to that again you know just kind of like this and I know I think that you use the term crypto crash but just talking about what that how that affects how do you speculate this is gonna work out is this is it going to bottom out are we going to see a rebound like where do you see this whole economy built around crypto currencies going yeah these are really great questions so I see I look at these kind of things like commodities and commodities a lot of times are cyclical you go back to like natural gas or oil in some form there's certain seasons and certain reasons related to those seasons where prices go up prices go down with Bitcoin and crypto currencies right now you have people you know buying them for this infinite you know price improvement as if it was you know their chance to get in on a low priced stock but that that is the wrong approach to this economy with that in mind in the near term there's a there are compelling reasons for Bitcoin and other cryptocurrencies prices to be a lot lower in the long term longer term as all this infrastructure improves you'll see a lot more wealth and money just pouring into or needy to public resource and that just makes it more scarce which usually means higher prices much much higher prices I think looking at as a commodity like that's actually a really interesting way to look at it now that you're saying that I mean as I I suppose it kind of is like you're investing in it it's a commodity prices do go up and down but in traditional commodities you have people who are experts in the industry making predictions you'll prognosticating where it's going to go how does that work with cryptocurrency or how do you tie into that yeah yeah so that's a good question too well you know I actually do run the Pareto Network and that is a market insight platform that is heavily focused on crypto currencies and looking at them from you know a more holistic view I mean you know we recognize that there's the taxonomy issue like these aren't necessarily currencies they're not necessarily commodities some of them are securities and so there's like a categorization problem right now and in the Pareto Network we do break things down that way and are able to look at why things might you know function price-wise the way they do I think that's that's interesting that's it probably a pretty good industry to be in right now for what you're doing because especially it's becoming you know we're seeing the proliferation of these and more people are starting to understand them having somewhere to go to find out about that information you know that that stuff and go to an expert that's probably a good good thing to be doing you said Pareto Network I want to make sure I'm saying it right where Rado network yes rado dot network as for the for the domain name the website and basically what's important is that there's a lot of non objective information in the crypto space so that's where we really try to fit in it's not just information it's there's a reason why it's not a by its objective that's cool that's that's that's fantastic well I mean I definitely want to check it out because I am you know not an expert when it comes to cryptocurrency but I'm definitely interested and this sounds like a good way to to find out more information and find out you know try and try to understand a little bit more about what to invest in and what not to invest in yeah no I hope it I hope it's also a useful utility for you well Eric thanks so much and any other last thing that you want to let people know too about where to go to find out more about what you do and again congratulations on the on the patent that's so cool to see when what what would you like to tell people here before we set out for today Wow let's see I would say you know if you are for some reason in crypto or speculating in crypto just try to wait it out hold on yeah wait it out and it's gonna turn back around probably yeah well Eric thank you so much again Pareto Network check that out everybody and Eric thanks for joining us here on Digital Trends liveand now we are joined by Eric lamis and white eric is an expert in Bitcoin and he just got a patent in stable coin and let's bring him on here right now and then Eric I've got some questions for you hello hello how are you doing great thanks so much for hopping on so let's just walk through you know since we're gonna talk about Bitcoin I figured maybe we'd start off we're just walking through what you do and how you're involved with it and maybe just a quick what I always like to hear this for anybody who works for Bitcoin what your real quick definition of Bitcoin is oh sure sure I mean Bitcoin is a form of peer-to-peer electronic cash it's but it kind of function is just more benignly as gas to use a database and that that's really what people are using it for what my company uses any blockchain or distributed ledger for is just to be able to use that public resource and so for us you know my role in the space is a market insight platform that use it you know blockchains primarily to drive how you know the information is curated so we like low prices so a lot in a lot of businesses much like any like oil user once you know lower prices of the gas that powers their economy so you know the speculative angle is not really that important right that's I mean that's a good point your low prices is an important part of no matter whatever the economy is and so you work in you work in this field how did you get involved in in Bitcoin and blockchain in general uh well that goes back a really long time basically I remember a long time ago I was working on a mobile wallet back in may be 2011 and the company just couldn't get the approvals necessary actually transmitted money but all of a sudden here comes this free open source you know Bitcoin wallet that does exactly what we wanted to do and so we were just like what are we doing with our lives and I just think watching it see if it actually works you know you just kind of go through the emotions like this shouldn't work hey it's still working why is it working so that's pretty much how I got involved well you uh you know I think that let's talk about what it is that you're doing right now and what you just got your patent for because you know one thing with Bitcoin I think for anybody who follows along is it seems to be really volatile I mean I was just reading this morning about how the price is dropped you know just on Bitcoin in particular I think it's like almost 10 grand over just this year alone and then you know at some point it could completely spike back up again so maybe that kind of explains what you're doing let's talk about this stable coin and what that is and and what your patent is right yes so a lot of people are flocking to stable coins as the volatility has really you know shaken their confidence and net worth so yeah with that in mind stable coins are just some way to stay inside the you know crypto ecosystem but have stable value usually it's a parallel digital asset that is tied to the price of a US dollar or something like that or another national currency and so people don't have to cash out and they just stay in and continue commerce as well as being well-positioned to speculate when they when they want without having to deal with bank transfers and delays and things like that so it helped you basically not to lose as much money if you were that is exactly that is exactly what people can use stable closed foreign and are using them for so there are a lot of stable coin projects just this quarter on they've really started proliferating so a lot of founders are consolidating a lot of capital meeting a lot of funding to launch these stable coin projects so that's last I checked there's probably over 50 different stable coin products already on the market and I would say the consumer hasn't really caught on to this yet but it is something that is really hot right well so you filed for yours in 2014 I believe was that correct yes so I have a I have a stable coin patent actually have it right here nice oh is that wait hold that back up I want to take a look at that again yes what the government says you nice congratulations thank you thank you so great it just goes into a lot of different details but um yeah so my patent describes what is now colloquially called stable points or one implementation basically usually there is a parallel asset that people move all their money to into this implementation doesn't pull value away from you know the actual cryptocurrency so like people consumers would be able to have their peer-to-peer electronic cash without and speculators which get a lot more demand going into Bitcoin so you get you know your scarcity you get your greater prices for the consumers who shouldn't be speculating at all still get their stable value so how does like how would a bank fit into this how does like a traditional style of currency fit in with this yes so it really changes the roles the long story short is they might not they don't but they can you know as a as an institution that gives custody to your assets they they don't necessarily fit in but they can make things extremely convenient so they can adapt they can still extract value in some way but you know ultimately what you have is that you know consumers don't need them and businesses also also don't need them a lot of crypto companies for example don't have bank accounts and they don't need them you know on the legal side it's been extremely hard it's been made extremely hard for Americans to get you know bank accounts outside the country just even for convenience sake but with stable coins and cryptocurrency you know a lot of people's don't think about it they they're not big never really encountered that friction and it's never stopped anyone and so the banks that have been used to limit this really you know just have diminished relevance yeah I think that's that's probably a kind of a common theme for a lot of this and you know as people are moving into in any kind of cryptocurrency but one of the things that I think may keep people away from it or may you know worry people which is obviously what you know your stable core is trying to address but talking about the volatility back to that again you know just kind of like this and I know I think that you use the term crypto crash but just talking about what that how that affects how do you speculate this is gonna work out is this is it going to bottom out are we going to see a rebound like where do you see this whole economy built around crypto currencies going yeah these are really great questions so I see I look at these kind of things like commodities and commodities a lot of times are cyclical you go back to like natural gas or oil in some form there's certain seasons and certain reasons related to those seasons where prices go up prices go down with Bitcoin and crypto currencies right now you have people you know buying them for this infinite you know price improvement as if it was you know their chance to get in on a low priced stock but that that is the wrong approach to this economy with that in mind in the near term there's a there are compelling reasons for Bitcoin and other cryptocurrencies prices to be a lot lower in the long term longer term as all this infrastructure improves you'll see a lot more wealth and money just pouring into or needy to public resource and that just makes it more scarce which usually means higher prices much much higher prices I think looking at as a commodity like that's actually a really interesting way to look at it now that you're saying that I mean as I I suppose it kind of is like you're investing in it it's a commodity prices do go up and down but in traditional commodities you have people who are experts in the industry making predictions you'll prognosticating where it's going to go how does that work with cryptocurrency or how do you tie into that yeah yeah so that's a good question too well you know I actually do run the Pareto Network and that is a market insight platform that is heavily focused on crypto currencies and looking at them from you know a more holistic view I mean you know we recognize that there's the taxonomy issue like these aren't necessarily currencies they're not necessarily commodities some of them are securities and so there's like a categorization problem right now and in the Pareto Network we do break things down that way and are able to look at why things might you know function price-wise the way they do I think that's that's interesting that's it probably a pretty good industry to be in right now for what you're doing because especially it's becoming you know we're seeing the proliferation of these and more people are starting to understand them having somewhere to go to find out about that information you know that that stuff and go to an expert that's probably a good good thing to be doing you said Pareto Network I want to make sure I'm saying it right where Rado network yes rado dot network as for the for the domain name the website and basically what's important is that there's a lot of non objective information in the crypto space so that's where we really try to fit in it's not just information it's there's a reason why it's not a by its objective that's cool that's that's that's fantastic well I mean I definitely want to check it out because I am you know not an expert when it comes to cryptocurrency but I'm definitely interested and this sounds like a good way to to find out more information and find out you know try and try to understand a little bit more about what to invest in and what not to invest in yeah no I hope it I hope it's also a useful utility for you well Eric thanks so much and any other last thing that you want to let people know too about where to go to find out more about what you do and again congratulations on the on the patent that's so cool to see when what what would you like to tell people here before we set out for today Wow let's see I would say you know if you are for some reason in crypto or speculating in crypto just try to wait it out hold on yeah wait it out and it's gonna turn back around probably yeah well Eric thank you so much again Pareto Network check that out everybody and Eric thanks for joining us here on Digital Trends live\n"