Getting Hacked and Losing Your Crypto with Nik Patel

Mr Obnoxious - Un pódcast de Peter McCormack

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In the second episode of The What Bitcoin Did Podcast, I chat with popular Crypto trader @daytradernik in detail about how he was hacked earlier this year, losing two-thirds of his portfolio and how he has bounced back. Nik also explains his approach to trading strategy, covering topics such as micro-cap trading, comparisons with trading forex and hedging his investments with Silver.

Breakdown of the show

00:00 Introduction
04:42 Welcome and Nik's background
08:39 How Nik was hacked
22:22 Scams and Ponzi schemes in the Crypto space
26:23 Nik's approach to strategy
27:35 Why Nik is buying silver with his Crypto profits
34:36 Nik's approach to portfolio management and why he prefers micro-caps
38:30 Technical skills and technical analysis
40:40 Nik's view on groups
42:56 Day trading thoughts
46:50 Other traders Nik respects
47:58 Mistakes Nik has made which we can learn from
51:14 Nik's specific strategy on the micro level and coins he likes
56:40 Nik's life outside of Crypto
59:30 Nik's recommended resources
1:01:35 Closing thoughts

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Connect with Nik:
- On Twitter @daytradernik
- His Telegram group
- Contribute to his book via his Patreon page

Security resources:
- Read @notsofast's SteemIt article on Crypto security
- Get a U2F key for your Gmail accounts
- Have a different Gmail account for each exchange
- Different passwords for every account - using a password manager for this makes it easy
- VirusTotal scan wallets before running them, and run in a sandbox or on a VM where possible.
- Encrypt local wallets
- Backup everything on an encrypted USB

Recommended resources:
- Nik's Medium article discussing how to pick micro-caps
- Chris Burniske 's book: Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond
- Banking on Bitcoin documentary on YouTube
- Inner Circle's YouTube videos
- Laura Shin's podcast Unchained, where she interviews Raval Navikant
- Where Nik talks about patience I made a video about this
- Crypto Street podcast where @notsofast is interviewed

Where to buy silver:
- Zilver Goudwinkel
- Bitgild
- The silver chart Nik mentioned in the interview

Twitter people to follow:
- Nuse (ant)
- Bitcoin Dad
- @notsofast
- Secrets of Crypto

Other people mentioned in the show:
- Laura Shin
- Naval Ravikant
- Nicola Duke
- Wilson Trodler

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