There’s all these new cryptos is continuously flooding in…How To Backtest On Etoro On More Data… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you learn the the very fundamentals here’s how bitcoin works and and we speak to a lot of once again financial advisors here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you begin to enter what is the financial investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you enter into that you know all these new tokens all these brand-new cryptocurrencies a few of them are actually simply there to try to where they have no functionality it’s simply we hope
that the price tomorrow is higher than the price today that’s the only reason you’re entering it which originates from education understanding and again going back to an investment thesis honestly and saying i’m not going to invest in anything even if i saw some guy pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research and learn what it is and learn where it suitables for me um i you understand naturally need to do a lot of research i can’t stay up to date with probably ten percent of the the tokens and cryptos that come out uh weekly i see a new one being listed on some exchange and i’m and i go i have actually never ever even i can’t think i’ve never ever become aware of that i get a big ego and i’m like how might i not have heard of that however i have it and somehow it gets listed and there are probably tons of other people saying the same features of cryptos that i know a lot about due to the fact that i i tend to take a look at a lot of defy stuff i tend to look a great deal of those tokens so the the way i look at it is one there are a few methods one is i try to inform myself as much as possible and then have an idea of what i like to discover and like to invest in what do i like to purchase do i like to invest in the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i do not like to invest in some that are just just simply you know pumps like pump schemes or something i know a lot of people generated income on shiba inu i know a lot of individuals made money on dogecoin that’s great to hear i do not wish to do that that that’s not me i choose not to and i’m not telling anybody they need to or they should not because there are a lot of individuals that have actually done well i pick not to do that a person since they’re they trade keep in mind 24 7 365.
i don’t want to go to sleep one night and i’m up here and wake up and i’m down here due to the fact that what will occur is i’ll never sleep again and again from an emotional perspective i don’t desire that i i attempt to learn quite a bit about the ones that i’m interested in or discover you understand discover why i might be interested why they may have value and truthfully man it just takes a lot of education the other thing i’ll say about that real rapidly is you hear a lot of individuals who do not understand a lot about crypto or or are actually versus it stating saying i do not understand how there can be all these cryptocurrencies one of them has to win but that’s that’s not the case they are all they they can or much of them can exist on their own much of them are a currency that is for a particular network so bitcoin for instance is the currency for the bitcoin network it’s the equivalent of the dollar is the currency for the united states economic network fine if eth is the currency of the ethereum network so there’s an entire network there and it has to have his own it it needs to have its own currency to work effectively so it so if we feel and and look this this enters into a bit of an opinion i’m a huge defy guy i love decentralized financing and part of the reason is because i have actually been in financing for so long and i understand where the inefficiencies are and i know if we can take a few of those inadequacies out of the system and we can use blockchain technology to do it that would be great the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain innovation be truly effective working on dollars running on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it effective so there is to me not quite truth to the assertion that due to the fact that there’s all these cryptocurrencies there’s a restricted amount of dollars that’s going to go into them so i got to determine which one’s going to be the winner it is going to again in my viewpoint start to begin to engulf the traditional financial system and i do not suggest that everything else is going to go away i suggest my feeling is banks and the crypto that the protocols and whatever are going to begin working together they’re going to start integrating together which’s where you’re going to see a good deal of this value so there’s so much cash in the traditional finance system that’s going to make its method into what we currently call the crypto system or the
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Defi system and eventually it’s just going to be called the monetary system because it’s just a it’s essentially a database in a network you get educated and once again when you get educated have a financial investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar exclusively transmitted for etoro us club members our webinars let members straight engage with our guests utilizing a q a and anybody or you can join etoro club and u.s club members get a lot of benefits such as an etoro swag bag unique access to our monthly webinars quarterly market reports and a dedicated account manager if you join our greater tiers you can likewise get things like a subscription of the wall street journal delta pro and unique invitations to irl yes reality etoro events be sure to check out the description for any advertising deals and for more information about our remarkable guests i’ll see you in etoro us’s club How To Backtest On Etoro On More Data.