Inside Tips From BitCoin Broker/DJ J.$crilla (BitCoin Finale)
Welcome, FanBros. We will be ending our 3-Part Cryptocurrency series with an interview with a great colleague and friend who has been lighting up the industry as BitCoin investor, broker and overall metronome in the industry. If you’ve followed his social media feeds (@ScrillaVentura), you know it’s a mash of hip-hop and insider trade info. While some would consider this as an odd mix, it only proves this industry has no elitism, color-scheme, set culture or boundaries of who can master it.
So, let’s get into DJ J.$crilla’s background and his journey into the world of Bitcoin and Cryptocurrency. J.$crilla has been involved in the trade for a little more than a year now and has been referred to as a broker at this point, with more knowledge and foresight in the field than a majority of his peers.
So, introduce yourself. What brought you into this field and what makes you passionate about it?
J.$crilla: Well, I got into the crypto stuff back in 2013. A buddy of mine was a miner – actually, he was kind of obsessed with the stuff back then before he quit. We ended up kinda getting involved with that quickly in & out. Once it made more of a downturn, we kinda bailed.
We then made an album in 2014 called Silk Road that documents the downfall of that story. But, I really got into it about a year ago when I was talking to you, Mellow, when you explained a few things going on in the alternative market other than just BitCoin. Once I dove into that, I really got interested in things like SmartContracts, Blockchains and this whole culture surrounding it. And with that introduction, I’ve been into just seeing how it ties into me being a producer and DJ. How these two fields can correlate.
M: So, where would you say you fit personally in the industry? Broker, Miner, Investor…?
J.$crilla: Really, I’m still just trying to see where I fit into the industry. I guess you can say I dip into the brokerage stuff due to the friendly praises of people I know and helping them get a strong foothold. But, I would consider myself as more of an advocate. I honestly just want to expose more people to it so they can find their path in it. I’m finding the alternative currency stuff is honestly a real good “hedge” if you’re in the entertainment industry or service industry. Or if you’re a freelancer or don’t have a retirement fund. Because putting a little bit into BitCoin? That’s like a no-brainer to me. You can even simply start with something like $50 bucks. And just invest it and watch it exponentially keep growing. I don’t see it falling too far down from where it currently is with the current economic climate.
M: Word. Well, I hope this isn’t too much to ask, but do you personally feel like you’ve seen strong surges in success since you started about a year ago?
J.$crilla: Yeah. Definitely.
M: Well, you mention earlier that someone even in working classes, like a waitress or bellhop, has the opportunity to jump in. I’m sure there can be a common misconception of a DJ being so huge in the financial market. So, how have you been accepted within the Cryptocurrency Community for this past year?
J.$crilla: Pretty well. I’ve been to some BitCoin and Ethereum Meetups. You’d think it’s one way, but actually turns out to be another. It’s pretty hip with a forward-thinking crowd from all walks of life. It’s not just some “nerd libertarian” crowd you may expect from the theme of the event.
M: Which Meetups in particular have you been to in particular and what was that experience like?
J.$crilla: A few Ethereum Meetups. They’re usually at a local bar or some kind of public access location. But, I’ve been received pretty well. There are definitely some wild characters in BitCoin, already.
M: Haha. Would you care to elaborate on that? Do you have your Marc Cuban’s or someone a bit more outlandish?
J.$crilla: Yeah, there are definitely some characters. Some people are bit more loud and dramatic. There’s a lot of drama in this community, as well.
M: I mean, as long as there’s money involved…
J.$crilla: Exactly. There’s so many who expect to get rich automatically. But, like anything, you have to be patient and work for it.
M: So, what do you guys usually talk about at these Meetups.
J.$crilla: I mean, it varies. Everyone has their own interests, so they tend to focus on whatever topic relates to them the most. A good example is a real estate leaser was discussing how the blockchain is going to change the entire industry for him. The Blockchain gets rid of a lot of unncessary components. Like an automative system you can program to whatever you like.
M: Well, that brings up a good point. There are so many coins that are there to stand out for different reasons: GamerCoin for video games and GDP developing their own coin for gambling… What would you say is your favorite new use for them?
J.$crilla: As far as BitCoin itself, I like using it as a stored value and overall as a form of payment. It’s like how you can use Amazon.com and save 20% using Purse.io which is a no-brainer to me. But, I think the way alt coins will go (to make them cool) is making them all have their own individual services and styles.
M: So, within the past few months, there’s been different surges in coins. What would you say have been the reasons for this?
J.$crilla: Well, Bitcoin itself has gone up & down a bit, this year. But, that’s because there’s a lot of Brexit talk and the yuan being devalued in China. There’s also the DOW crashing or Mike Herren who helped develop BitCoin in the early years went off on a negative tangent about BitCoin being a failure after he tried to start his own company with the currency and failed. I’m not sure if that was real or if it’s true that he’s now with the banking community now, as well.. Speaking of: I know CitiBank actually recently endorsed BitCoin which is a huge deal.
M: Yeah, that’s pretty rare here in the US. I’ve seen things like the Royal Bank of Canada also endorse and pursue it.
J.$crilla: Yeah, Japan as well. China is in talks about it. But, back to the surge part: So, when you exchange U.S. dollar, the dollar isn’t going down but has the opportunity to go up. And the other coins go down in response to that. So, you’re trading within that realm. Like certain coins have gone up five-to-ten times. There’s a lot of volatility to that market. Facto went up 20 times in the past six months. MaidSafe has had a great run. Even NewEconomyCoin just got big in Japan and had a run of 20-to-30 times growth. If you know what coins are big, you can make some big coin.
M: What type of activity peaks your interest to follow a certain coin?
J.$crilla: You should always just do your research. There are some coins that can be kinda scammy and you should definitely speak with its communities and developers and see what the goals and long-term plans are.
M: I’ve seen that on the market pretty often. Or even people giving false info. How would you feel would be one of the best ways for our listeners to find reliable sources of information?
J.$crilla: Well, there’s always following my Twitter feed or politrickin.com. I try to be as honest as I can on there. But, I suggest doing your research and watching what happens with the waves of success. You have to do your homework. There is no easy in-or-out. But, the bright side to it is that you’re actually learning about the future of the world through this. It shows you where we are and where we’re going on a global scale.
If you look at BitCoin, it has $10 billion market cap right now. That’s about 1/5th of what PayPal still is. Or you look at Ethereum being at $1 billion (or maybe a little under now). But, with these different alt coins, everyone is trying to do something different or find the next killer app. The next big BitCoin.
M: Let’s take it back for a moment and address Ethereum. I’m sure you’ve heard plenty of people show how nervous they are in regards to the entire “Forking Thief” issue. What would you recommend on that front when considering safety?
J.$crilla: Well, it’s a definitely unsafe investment, right now. Ethereum is not “battle-tested” like BitCoin is and it’s starting to show. And the bailout to save the DOW also isn’t a great idea. BitCoin has legs under it, it’s safe and it shows. While Ethereum is the new cool kid, I can’t recommend buying it despite its new SmartContract features.
M: Have there been any other alt coins on the market where you’re enjoying the SmartContract features?
J.$crilla: Yeah, I like CounterParty a lot. I think they’ve proven to balance well between Ethereum and BitCoin. They have a lot of cool coins built on top of them already. I’ve also had my eye on StorageCoin, BitCrystals, FoldingCoin…there’s a bunch of contract coins. There’s Factum which just got awarded a contract from the State Department.
M: I guess now is a good time to get into how regulation has been a bit of a mess here in the U.S. and how they’ve decided to try and regulate each coin one-at-a-time and it’s actually not stopping us investors from doing what we want. How do you feel about how cryptocurrency is being used in America compared to the rest of the world, right now?
J.$crilla: Well, state-by-state has been interesting as they’re all trying to find a way to regulate it individually. I think America as a whole is really behind the rest of the world on it and we’re going to have to see what the results of that will be. I think most of the coasts know about it (California, New York or even D.C.), but that’s about it. In China, they even consider this to be the people’s currency. The U.K. has been building cities with it. And South America has been holding on to it in places like Argentina. I think if you ban it, you’re stifling the growth of your future.
It’s funny… I remember back in the day in North Carolina, they tried to develop their own currency amongst their population and the government stopped it. But, with something this huge, I don’t know how you stop this kind of progress. So, regulation is a big deal. So, I think the countries that have been a lot more friendly with it, they’re going to see progress at a scale far faster.
M: So, I guess as we come to a close, what would you say would be your biggest hopes within the industry?
J.$crilla: Overall, people just learning and being willing to take it on in our communities. Really, I want to see how it’s going to effect the retail industry and change the whole economic landscape. I work a lot with people that don’t have your average, conventional job so I like to show them how this can be used as even a long-term investment and just show how if invested the right way, you can relax and let it grow. I think the “risk x reward” ratio is very high. Even if you buy some, you can just as easily transfer back to USD if you want to pull out. I also want to get involved with some development and have been kicking around some ideas with people.
M: This has really been great. Is there anything you want to plug or anything you want the FanBros audience to hit up if you want them to find you?
J.$crilla: I have a new mixtape being released on July 11th called “Gorilla Glue” where I slow down 45-inch vinyl and play it at 33-speed and do a ton of edits, remixes and blend it with Erykah Badu, Shawn Price, Nas, Raekwon, Future, J.Cole.
I also have some skateboards being made by MetroTech and everything should be available late July/early August.
If you’re trying to get involved with any BitCoin talk and want to just discuss the future of alt coins, you can find me with the name “$crilla Ventura”(@ScrillaVentura) across all platforms.