Have you encountered Stansberry Research’s presentation by John Engel titled ID Coin?
John claims that the US government could replace social security cards with an “ID Coin” based on a hack-proof technology that could be 20 times bigger than the three biggest cryptocurrencies combined.
He’s put together a report titled How to Make a Fortune in the ID Coin Revolution claiming it’s bigger than Bitcoin.
In this article, I will walk you through the main talking points of the presentation to help you better understand blockchain, what the v id technology he is talking about and why he thinks you should invest in this particular blockchain technology.
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What is the ID Coin?
When John Engel released a presentation titled ID Coin, promoting a newsletter called Stansberry Innovations Report. Inside he shares an alternative to buying bitcoin by looking at a coin that could provide this id system he talks about. He say’s it will be bigger than Bitcoin.
However, he spent most of it talking about a new identity verification system that he claims the government will roll out that will be designed to better protect our personal information and data from all forms of security breaches based on blockchain technology.
But not Bitcoin, instead another coin.
What is Blockchain?
If you are unfamiliar with blockchain, it is a distributed record-keeping system that allows you to store records permanently while also providing transparency and keeping track of changes.
To buy cryptocurrency coins you will need to create an account at a crypto exchange.
When you create an account at an exchange you will have access to more cryptocurrencies than just Bitcoin, the most well known cryptocurrency of them all.
What’s John Predicting?
John claims that the government wants to launch an initiative to use blockchain to securely store all our information.
He goes as far as to claim that the new format will make social security cards obsolete.
Could this provide a better user experience and keep our data safe?
For reference here are his comments and view on what he expects to happen:
“And I expect that beginning soon, infants will get issued their ID Coin code in the hospital the day they’re born… like a Social Security number.
Your ID Coin code will follow you your entire life.
It’ll be tied to every paycheck… every tax bill… every investment… every doctor visit. And will soon be more important than your passport… your bank details… even your fingerprint.”
This is already happening in Illinois:
“It’s already happening in the sixth-largest state, Illinois.
The state launched a pilot program where identity attributes like legal name, birthdate and blood type are secured with ID Coin technology, right from birth.”
Privacy is a big concern for many people and social media has only made this problem worse in recent years.
In addition to securing your information, an “ID chain code” will enable you to retrieve stored information faster.
Are Other Countries Using ID System?
John says that such systems have already been implemented in more Asian countries.
Stories about this can be found online with the proof too.
“This technology is NOT some futuristic dream. In Asia, an estimated 1.7 billion people are using a form of ID Coin… and that number is expected to double in the next few years.
There is also an e-identification system with similar features being used in Estonia:
“Every person in Estonia now controls their own identity using ID Coin.
It’s mandatory for every citizen.
Their ID Coin is their passport within the EU… their voter ID… their health insurance card… and their ATM card.”
The UN has also thrown its support behind a project that will build a digital identity network to provide legal identification to those who lack official documentation. The project will be spearheaded by Accenture and Microsoft and it will be built on the blockchain.
And it doesn’t intend to stop there:
“In fact, the United Nations has set a goal of extending at least a basic form of this technology to every single person on the planet, by 2030.”
But of what interest is a public identification system to an investor and is there an advantage to be had by grabbing tokens of any particular cryptocurrency?
First, John claims that the new crypto-based identification system will spur the growth of blockchain and even suggests that it could become bigger than Ethereum, Bitcoin, and Ripple combined.
Bold claim, there are already numerous privacy coins out there. Is this new privacy coin something special that we should know about?
Bitcoin Market Cap Continues To Grow
Considering the growth we have seen of Bitcoin and Ethereum this past few months that would certainly represent an incredible return. The market cap of crypto in general surpassed $1 trillion earlier in 2021 and now Bitcoin alone has a market cap above the $1 trillion mark.
Bitcoin is seen as digital gold and the fact that it’s supply is limited helps it’s growth over other projects that have an un-capped supply like Ethereum. Even if it’s not going to be a reliable payment method the value can rise still.
That being said Ethereum has still seen amazing growth this year as more individuals believe that they missed the boat with Bitcoin.
Will Bitcoin Keep Rising?
The market cap of Bitcoin will continue to grow as the trading volume goes up, and that blockchain in general will be the biggest asset class of it’s kind as infrastructure grows.
It’s easy to see why when you see the growth of crypto currency in general and how it continues to outperform the stock market. The Bitcoin price chart certainly suggests Bitcoin will continue to go up.
John claims that the id system will outperform Bitcoin and Ethereum and grow by up to 80,782%.
One problem I could see is that the current president has taken a negative stance towards cryptos so will that affect the market in general?
Only time will tell but services on blockchain continue to grow and as an investment it continues to outperform the stock market.
What Crypto exchange is John talking about?
Coinbase who are an exchange for buying and selling cryptocurrencies recently went public on the stock market with an IPO.
Coinbase are the first of their kind to use the stock market to do their IPO rather than doing a ICO which stands for initial coin offering where you raise Bitcoin.
Another exchange called Binance who are one of the biggest coins now have their Binance coin so instead of opting for the traditional stock market route, they decided to stick with blockchain to raise more Bitcoin via Binance coin. The price has rocketed since!
Getting back to Coinbase, the partners who were able to get in on Coinbase at pre ipo levels have certainly seen an incredible return as the price of cryptos grows.
Here is John’s view:
“In short, we predict Bitcoin and every other cryptocurrency to date have only been laying the groundwork for a much bigger crypto revolution centered on ‘ID Coin.’”
Even he only learned it existed because he knew an expert in cryptography and information security called Eric Wade. Wade also works for Stansberry Research.
How To Invest In ID Coin
John says that you can invest in the ID coin boom without having to deal with internet-based crypto exchanges like Binance and Coinbase. He goes as far as saying that you may not even have to own a cryptocurrency wallet or app.
Since he appears to be ruling out cryptocurrencies he may be referring to a company that sells a product or service that has to do with cyber-security.
What is the stock symbol for ID coin?
Since he doesn’t provide enough clues, I couldn’t definitively decide what stock he was touting however other content suggests he is talking about the crypto VIDT.
Back in 2017 my research suggests that OKTA was the actual pick but this has since been changed and now it could be ARKF or BLCN. The app Square actually have a large holding in ARKF.
What is V ID?
The V ID is a validation service that uses blockchain technology to end all document fraud however VIDT datalink seems to be a crypto trading for around $1 that is a blockchain validation and NFT creation tool.
The market cap is around $50 million which is still very small and it can be picked up on the Binance exchange.
The pitch has information that is somewhat misleading as it talks about not needing an exchange to buy into it, however other reports suggest VIDT to be the coin.
Where can I buy V ID?
You don’t need to buy it on the stock market, in fact it’s actually available on the Binance exchange.
Whilst I can’t say whether VIDT is the first of it’s kind there is a market for it’s services and I like that VIDT is taking data seriously. There are other coins in the space though.
It is also using blockchain as we know the technology is definitely the future even if specific cryptocurrency like Bitcoin might go away (at least if President Biden has his way).
He has written a report called How to Make a Fortune in the ID Coin Revolution that you can only get by subscribing to Stansberry Innovations Report and inside this he shares far more detail about the stock and his comments on why he thinks it is a good investment for us.
Who is John Engel?
John Engel is a newsletter editor. He is a senior tech analyst at Stansberry Research – a publishing firm that offers investment advice to more than 250,000 subscribers and works like InvestorPlace and Agora financial.
John has a Masters in Biotechnology from the John Hopkins University, which explains why he has a finger on the pulse of all new scientific breakthroughs.
Before he became a newsletter editor, he was working as a bench scientist for a large pharmaceutical company. He was part of a team that developed new therapeutic drugs. He also worked for a biotech startup, where he learned how startups work.
His picks include the likes of payment processor Square and other stocks in the market that have given us amazing returns.
In addition to editing the Stansberry Innovations Report, he contributes to Stansberry Investment Advisory and Stansberry Venture Technology.
What is Stansberry Innovations Report?
As we have established, John Engel released the ID Coin presentation to advertise Stansberry Innovations Report.
Stansberry Innovations Report is described on the official Stansberry website as follows:
“[It is] A monthly research advisory that shows subscribers how to invest safely in the next technology revolutions.
Editor John Engel looks for strong companies that are staking out their spots in the burgeoning technology industry, treating shareholders right, and providing the opportunity for outstanding gains.”
We’ve seen this before with other editors offering investment advice in the tech industry and blockchain.
Unsurprisingly, they always seem to offer the same assurances i.e. they are going to find companies with good fundamentals and a bright future filled with oversized returns. The content is not exactly that much different to other ads we see.
So, how does John seek to differentiate his advisory service from the rest of them?
He and his team of experts look for “the most pioneering and disruptive technologies around the world today.” This implies that they have a global focus and don’t just restrict themselves to companies within the US.
By widening the area it means there are numerous topics in other sectors. This gives us a chance to have a better return than just focusing on one country.
What kind of investment opportunities do they seek?
This excerpt from the website addresses that:
“The team looks for early opportunities in new technology trends that span the medical sciences, biotechnology, software, hardware, defense, and cryptocurrencies. These trends will likely play out over several years and decades.”
Therefore, when you get stock market recommendations from them, you will typically keep your position open for 3 – 5 years.
This is unlike services like The 5 Minute Money Multiplier that promise to deliver quick returns by trading options.
You can expect to receive:
- A monthly newsletter every third Friday of the month.
- Stock market recommendations with a typical holding period of 3 – 5 years.
- Access to the encrypted website and the model portfolio.
- More content
To reap concrete benefits from the service, John proposes that you have at least $1,000 in your portfolio to invest in the stocks he recommends.
One year of the newsletter costs $199
Is Stansberry Research Legit?
I have shared reviews of numerous promotions that Stansberry have ran and in general they are legitimate. Of course there will be many skeptical people who will claim that their pitches are not legitimate, but I have not seen a reason to suggest they are not.
Of course you do always need to do due diligence and make sure that the data makes sense.
In this particular example they seem to be pitching VIDT which is a company using blockchain to verify identity.
VIDT naturally has a lot of interest due to Bitcoin trading rise in value.
Will it be bigger than Bitcoin and other cryptocurrency projects? Since ID Coin pitch was originally created the price of cryptocurrencies like Bitcoin have gone through the roof. Stocks can’t keep up.
Is the Stansberry Report worth it?
The report can certainly help give you an insight.
Here is my overall opinion on the pitch.
The stock market may have been king but right now the news is on cryptocurrency and crypto in general.
As more people learn how an exchange works they will be able to create an account and tap into cryptocurrency tokens.
Which Cryptocurrency will explode in 2021?
Experts predict trillions will flow into this sector of the coming years and if the news for crypto stays positive then can 1 single company on the stock market really outperform the mighty Bitcoin?
Yes we know that data is huge, but there are plenty of applications running on blockchain that do similar things to VIDT and their user base is small.
I guess the real value lies in how the government sees crypto and whether companies like VIDT can show their value on privacy infrastructure.
Coinbase trading on the stock market instead of launching their own coin like the Binance coin as it has allowed them to follow all the regulatory measures and this is something that will help them.
Why would they opt for the stock market when they are an exchange?
I believe it is because they want to bring crypto to the masses which means by going public via the stock market gets more news and attention on cryptocurrencies in general.
If they had done a regular ICO like many other’s in the crypto space it probably wouldn’t have been big news and maybe the price wouldn’t have risen as we have seen with their stock.
Ultimately going down the stock market route probably helped the price of Bitcoin and other crypto in general.
ID Coin Conclusion
In the ID Coin presentation, John Engel is hyping up blockchain technology and presenting it as the solution to all our cybersecurity problems.
Gurus like Matt McCall (“The Awakening” Event) have also placed it on a pedestal and touted it as the revolution to explode right in front of our eyes and mint millionaires out of the investors who will be smart enough to invest in it at its “ground floor.”
That being said, here are the takeaways from the ID Coin presentation:
First, John thinks the government is about to launch a new blockchain-based identification system that will replace Social Security cards. He gives examples of similar systems in countries like India and Estonia.
Second, he expects that to bring blockchain to the mainstream, making it bigger than the biggest cryptocurrencies.
Third, he wants you to invest in a company in the cybersecurity space that will have links to the blockchain (we think this is VIDT, but it could be ARKF or even OKTA).
The only way to reveal that company is by signing up for his newsletter, Stansberry Innovations Report.
What does Stansberry Research recommend?
Ethereum is an example of a coin, and Bitcoin is of course another, these are actual cryptocurrencies you buy on an exchange.
John’s pitch is to do with privacy and data, and just happens to use blockchain as the technology. It’s confusing whether it’s a cryptocurrency coin that is trading on an exchange or if it’s one of the stocks you can buy.
I think the rise in popularity of this particular pitch is due to the news surrounding Bitcoin and other cryptocurrency lately and it perhaps wouldn’t be so popular if it wasn’t actually a hot topic in the news right now.
Yes, you can invest in the stocks John recommends, but you will need to get a subscription and I think a lot of people will be disappointed when they learn that you will basically put your dollar into stocks he recommends that only “use the technology” rather than having anything to do with cryptocurrencies.
Before you go…
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