By Justin Spittler, editor, Casey Daily Dispatch
The line stretched around the block.
There must have been 40 people there.
I jumped behind the last person. But the line barely moved.
It would have taken me 40 minutes to reach the front—and I didn’t feel like waiting that long. So, I stepped out of line and walked a few blocks down the road to another location.
Same scene. Dozens of people in line.
These people weren’t trying to get into a concert or an exclusive party, either. They were trying to withdraw cash from an ATM.
• This was my experience on New Year’s Eve…
I was in the small beach town of Tulum, Mexico.
The good news is that I eventually got the cash, but only after I visited three other ATMs.
The whole experience took me about an hour. By the time I was done, I walked more than a mile.
It was incredibly frustrating. But it wasn’t a complete waste of time. You see, this experience reminded me of how obsolete cash is.
Think about it…
It’s inconvenient (even dangerous) to carry around. And it can be difficult and even expensive to get your hands on.
• I know because I’m a digital nomad…
I’ve spent the last seven months traveling around North America.
Since June, I’ve visited Mexico several times. I spent a month living in Vancouver. I’ve also called four different U.S. cities home during that time.
I’ve had a blast doing this. I’ve met many interesting people and learned a lot about different cultures.
But I’ve also had my fair share of headaches. And many of them have had to do with money.
You see, I’m constantly exchanging U.S. dollars for other currencies. And currency conversion costs add up quick.
I also often pay steep fees when I withdraw money from ATMs outside the U.S.
• The good news is that this won’t be a problem for much longer…
That’s because a cryptocurrency revolution is underway.
Cryptocurrencies are digital currencies built on blockchain technology.
I know that sounds very technical. But the blockchain is basically a public ledger. It tracks and verifies all transactions. This prevents counterfeiting.
Cryptos use peer-to-peer networks. This gives you complete control of your digital money at all times. It allows you to move them around without going through a bank.
Cryptos are also decentralized. They aren’t controlled by a government or central bank.
That’s why so many libertarians like cryptos. But that’s not why they’ll go mainstream.
• That will happen because cryptos are easier to acquire, transport, and store than cash…
They’re even better than credit cards.
Again, that’s because cryptos are decentralized. They’re not tied to a government or central bank. Because of this, you don’t have to pay a conversion fee when you spend bitcoins or any other currency abroad.
You also don’t need a bank account to own cryptos. You just need a smartphone. That’s a huge plus for people living in undeveloped countries.
Cryptos also don’t require third-party approval. The blockchain handles that. This is important because it can sometimes take months to settle a credit card transaction.
Merchants who accept certain cryptocurrencies also pay smaller processing fees than they do for credit cards. They don’t need to buy specialized hardware to process bitcoin transactions, either.
• Once the world figures this out, businesses will start accepting bitcoin in droves…
This mass adoption phase has actually already begun.
You can already use bitcoin to purchase content from Microsoft. Overstock.com, one of the world’s largest online retailers, also accepts bitcoin. The same is true for the real estate company Re/Max and ridesharing company Uber. You can even pay for a brand-new Tesla with bitcoin.
Now, these are some of the biggest companies on the planet. It makes sense for them to adopt this revolutionary technology before mom-and-pop businesses.
But it’s only a matter of time before your local coffee shop follows suit.
But you shouldn’t wait until then to invest in cryptos. By then, it will be too late. The big money will already have been made.
• So, consider speculating on cryptos if you haven’t already…
Just understand that cryptocurrencies are incredibly volatile.
Prices for the large coins like bitcoin and ether can swing 20% or more in a day.
Smaller coins are even more volatile. They can rise more than 100% one day and crash 50% the next.
So, treat them like a speculation. Only invest money you can afford to lose. Use stop losses. And take profits when they come.
January 9, 2018
Chart of the Day: Copper’s on the Rise
By Joe Withrow, analyst, Casey Research
A new copper boom is underway…
The iPath Bloomberg Copper Subindex Total Return ETN (JJC), which tracks the price of copper, has spiked 29% since the start of 2017.
And as we told you back in November, this trend is just beginning.
You see, copper is the world’s most important industrial metal. It’s critical to the power grid… the construction industry… and even plumbing systems.
But it’s also essential for the booming electric vehicle (EV) market. That’s because EVs require far more copper than traditional vehicles.
Each traditional vehicle contains between 18 and 49 pounds of copper. But a hybrid vehicle requires 132 pounds of copper. And a pure electric vehicle needs 183 pounds of copper to function.
As you can see, demand for copper will skyrocket as the EV market grows. In fact, copper demand for EVs is projected to hit 1.74 million metric tons per year by 2027 – up from only 185,000 metric tons today.
To put that in perspective, total copper demand in the U.S. – the second-largest copper consumer in the world – is only 1.8 million metric tons per year today.
We expect the price of copper – and funds like JJC – to rise along with this demand…
Today, a reader agrees with Doug’s take on the War on Drugs—and shares his success so far investing in marijuana stocks:
Doug, I'm in total agreement about the stupid WAR on Drugs. I also started investing in the cannabis sector back in 2014. This is one of the best growth sectors in the market and getting bigger every day.
I started with a few hundred dollars and have turned it into $100K, and it's still growing. I bought them cheap, usually pennies, sold half back at 100% profit, and bought the next good-looking ones. I've done well with your three earlier recommendations and am looking forward to your next offerings later this month.
And high praise for our oil recommendation, the VanEck Vectors Oil Services ETF (OIH)…
After your OIH recommendation back in the fall I executed positions in OIH, NE, and ESV. After a bit of a bump down here and there, all three are doing well and are into positive territory. I just bought some XOP 2 days ago and confident of the same results for it as the former 3.
Thank you for these recommendations you are providing free of charge in the Daily Dispatch… I do all my own investing without those expensive monthly full-service brokerage fees.
Have you taken advantage of the opportunities in marijuana and oil today? Let us know how it’s going right here.
In Case You Missed It…
Tomorrow night, Doug Casey will reveal how he became a marijuana millionaire with one penny pot stock.
And the Casey Research team will also reveal their research on five pot stocks set to soar in 2018.
If you want to become a marijuana millionaire in 2018… you’re invited to attend. The event is free, but you must click here to reserve your spot.