In this interview, Lyn Alden discusses the process of developing a cryptocurrency portfolio and how to avoid risks.
Lyn Alden Schwartzer is a financial advisor and the founder of Lyn Alden Investment Strategy. Cointelegraph Magazine interviewed her about her views on cryptocurrency, bitcoin, and blockchain technology.
We asked blockchain and cryptocurrency entrepreneurs for their perspectives on the business… We also toss in a few zingers here and there to keep them on their toes!
Lyn Alden Schwartzer, the creator of Lyn Alden Investment Strategy, which offers investment analysis to both individual and institutional clients, is the subject of our 6 Questions this week.
Lyn Alden started her career as an engineer. She graduated from college and began working as a junior electronics engineer at an aircraft simulation facility after interning in the automation business. Lyn Alden worked her way up to become the facility’s lead engineer, directing project teams, contract workers, and technical budgets over the course of a decade.
Lyn Alden also had a small financial research firm on the side, which she liked. Although she enjoyed engineering and management, as her research company expanded in size, it started to dominate her previous career, and she departed to focus solely on her research company. Lyn Alden focuses on macroeconomic trends, and she has been researching Bitcoin in particular since 2020.
1 — What is the most creative use of blockchain you’ve ever seen? It’s possible that it’s not the most likely to succeed!
The solution to the double-spending issue, which allows users to trade and store money without a centralized third party, is an indisputably unique use case for blockchain.
Everyone is searching for “the next thing” to which blockchains can be applied, but I believe that people underestimate the size of the total addressable market for blockchains’ first true application: a peer-to-peer electronic payment system.
The whole world suffers from a lack of store of value. In all industrialized nations, interest rates are lower than inflation. We have monetized everything else, such as stocks, homes, luxury, and other things, due to a scarcity of decent money. In other words, since we wish to keep anything other than cash, we store a monetary premium in otherwise non-monetary assets over and above their utilitarian value. This is a situation that has resulted in tens of billions, if not more, of dollars of monetary premium being held in non-monetary assets.
Then there’s the fact that a large portion of the globe has a payment issue. International payments are inefficient and expensive because they are subject to capital regulations, lack easy access to low-cost micropayments, and may be sanctioned, monitored, and seized. The capacity to make censorship-resistant payments is a major matter for developing countries, and it’s something that many people in Western markets don’t think about very frequently.
2 — What are your top five Crypto Twitter accounts, and why can’t you live without them?
That’s a difficult question since I have a lot of favorites. I like a variety of resources from many platforms (e.g., podcasts, interviews, books, articles, and so on), but I think I’ll stick with @PrestonPysh, @Gladstein, @Adam3us, @Skwp, and @Lightning for Twitter.
I also prefer to follow individuals with whom I disagree, as well as wide crypto news feeds, so that my feed is constantly full of different perspectives.
3 — Will CBDCs, a permissionless blockchain like Bitcoin, or a permissioned chain like Diem lead the way if the world gets a new currency?
I believe we will have all of the above for a length of time.
Some nations, such as China, are firmly committed to the CBDC approach, which provides them with more monitoring and control over their economy and people. They’ll be able to monitor transactions, stop transactions, debit people’s accounts automatically depending on violations or their social credit score, and program money to only be spent in certain locations or at specific times. It will also let them to bypass the SWIFT system, giving them more influence over international trade with certain of their trading partners.
Most other central banks have not spent as much time researching CBDCs as China has and are unable to transition to a new currency system as swiftly. In the United States, I believe we will see an increase in the use of regulated and permissioned stablecoins, such as USD Coin, Diem, and others. As these technologies become increasingly incorporated into the financial system, it may be conceived of as a public-private collaboration in certain aspects.
Meanwhile, Bitcoin has been in operation for about 13 years, with rising usage, and is the only digital currency that can be considered properly decentralized, as seen by its war scars. My prediction is that it will continue to expand and become a more appealing form of global collateral and global money over time. I believe the world will continue to use numerous currencies in various ways, but I believe Bitcoin’s market share will expand significantly from its present low levels. I wouldn’t rule it out, because unlike CBDCs and stablecoins, which lose value over time, Bitcoin provides a chance for everyone to have inflation-resistant, confiscation-resistant money that they can keep if they choose.
This reminds me of Game of Thrones. All of the political leaders and their kingdoms struggle for power and prestige, while an army of White Walkers develops from beyond the walls, with little regard for the plans and schemes of the human politicians. Politicians have ambitions for their currencies, but for many individuals, Bitcoin is a better way to save money and, in certain cases, a better way to pay — and these benefits may well conflict with the politicians’ intentions.
4 — What ability do you wish you possessed but don’t? If you had it, how would you utilize it?
I’m not musically gifted. I studied certain subjects because I had a natural aptitude for them, such as arithmetic and physics. I’m also capable in several artistic fields, such as writing and storytelling. However, music is one of my greatest weaknesses. It was always a long process for me to learn instruments, and it never truly clicked for me. I used to fantasize of joining a rock band when I was a child, but I had no idea how to get started. Other dreams I had were ones that I could really achieve.
My spouse can listen to a song, reverse engineer it in his brain, and then perform it on the piano. He wasn’t taught how to do it; it’s simply a natural skill for him. I’m not sure where to begin with it; it seems like hieroglyphics to me.
5 — What do your parents, significant other, friends, and children chastise you for?
I’m a workaholic, to be sure.
I’m not as sociable as I should be, and I put work before of relationships. I have a tendency to get self-absorbed in my job and fail to express sufficient gratitude for the excellent achievements, interests, and activities of those close to me. It’s something I intentionally work on, and I believe I’ve improved with time, but it’s still a difficulty for me.
Many individuals struggle to get started on a project or come up with ideas for things to undertake. They have ideas, but they lack the initiative and execution to put them into action. I have the opposite issue, in that I have a long list of things I want to accomplish, and then I actually start and work toward finishing them — which seems to be a positive thing on the surface, but it comes at a cost. If I’m not chasing a goal, I become agitated, and I’m not excellent at simply “being.”
There is a good balance to be found, and I haven’t quite found it yet.
6 — How do you see social media in the future?
Over time, I hope it gets more decentralized. I don’t believe it’s good for society when social networks purchase other social networks to form networks of networks.
Pendulums have a tendency to swing too far in one way before being pushed strongly in the other direction. On the one hand, providing a platform for everyone has resulted in an era of amazing creativity and communication while weakening the gatekeepers. Algorithms and choose-your-own-news sources, on the other hand, have a propensity to draw individuals into echo chambers and contribute to societal polarization.
Benefiting from user data and making people the product rather than the customer has played a big role in the emergence of mega-corporations over the last decade. Google and Facebook both did this a lot by giving out free software in return for a lot of personal information. Amazon also gathers a lot of data from retailers on its site, which it then uses to build its own in-house goods.
People, it seemed to me, will wake up and demand their data back. People will ideally become more actively conscious of the data being collected from them and begin to take it back with improved browsers, search functions, and networks.
My desire for the blockchain community is as follows:
I’d want to see the blockchain community extend its time horizons and concentrate more on what can be developed over a 12-year period rather than what can be promoted in a 12-month period. There is a huge potential here to concentrate on developing solutions that make the world more connected while also making it more private, by providing people greater control over their money and data. The more effective this is, the more it will decrease barriers that individuals cannot manage while simultaneously enabling them to set their own bounds.
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Lyn Alden is a financial advisor and author of the book “The Intelligent Investor: The Definitive Book on Value Investing.” Her writing has been featured in Forbes, Bloomberg, and other publications. Reference: lyn alden schwartzer website.
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