As humorous this could be controversial in the cryptocurrency world as the idea is converting your cryptocurrency to real money means acknowledging your cryptocurrency isn’t real money. Hence the joke. (By the way, for the techno-savvy, the numbers at the end was an exclamation mark, (‘!’), in binary.)
Why am I talking about cryptocurrency and writing in binary, you might be rightly wondering? As you can guess by the existence of this article, we have another trader took up our funding scheme and has successfully passed our evaluation! One thing that stood out to me was that he started out in the cryptocurrency market then moved into the forex market. Typically the cryptocurrency trading I come across are in the reverse order (whether the trader shifts or adds it to their portfolio), so naturally, this story is intriguing.
Cryptocurrency is unique in that nowadays you can argue that it is a currency backed purely by market forces, not an entity, if anything the proverbial entity would be the free market. On the other hand, you can argue, it could be a commodity especially reportedly millennials (the generation that popularised this asset class) seem to be viewing it as their version of gold. In fact, it is really Bitcoin, the other Altcoins just chase the clout that Bitcoin has and mainly go along for the ride as Bitcoin has quite literally priced out a lot of people.
Now, depending on how you want to view it, you can view the cryptocurrency market as a system with Bitcoin as the centre. In fact, whatever models you are going to find, oftentimes you will find Bitcoin has a central role. Especially as with all the people who expect the USD to fail, they expect Bitcoin to be one of the benefactors, apart from gold, of course, which further strengthens the analogy of Bitcoin (and by extension other cryptocurrency) to commodities.
Though, if you look at the history of Forex, including the Bretton Woods system, modern Forex has its roots in commodities which strengths the ties of Bitcoin (again by extension other cryptocurrency) to currencies.
Bitcoin, actually any cryptocurrency to be honest are a lot more volatile than commodities and currencies, especially without a central bank or some body regulating it. Hence my surprise about our newest addition, Rodrick!
However, it worked out well. What has happened in what seems to occur when learning mathematics. Some teachers get students to learn harder problems, so when tackle the problems they must learn, they find it is not as bad as they must. It is probably this is what happened here.
Cryptocurrency is very unregulated and unstructured, so Rodrick likely had to self-teach himself under these conditions, and as we can see he flourished under these more structured conditions as he understood how to survive in the harsher environment!
Without further ado, here is the interview from Rodrick:
