There’s all these brand-new cryptos is constantly flooding in…Nash Vs Coinbase… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you discover the the extremely basics here’s how bitcoin works and and we speak with a lot of again monetary consultants here’s just how bitcoin works and once you comprehend bitcoin you comprehend things like blockchain innovation you comprehend transparency and immutability and all those things and then you begin to get into what is the financial investment thesis behind bitcoin which is 80 of the video game right there 80 of comprehending these other crypto currencies originates from understanding how bitcoin functions then you get into that you know all these new tokens all these brand-new cryptocurrencies some 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 factor you’re entering it which comes from education understanding and once again going back to an investment thesis truthfully and stating i’m not going to invest in anything just because 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 find out what it is and learn where it suitables for me um i you understand naturally need to do a whole lot of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh weekly i see a brand-new one being noted on some exchange and i’m and i go i’ve never ever even i can’t think i’ve never ever heard of that i get a huge ego and i resemble how could i not have actually become aware of that however i have it and somehow it gets listed and there are most likely tons of other people saying the exact same things about cryptos that i know a lot about since i i tend to look at a great deal of defy things i tend to look a lot of those tokens so the the way i take a look at it is one there are a couple of ways one is i attempt to educate myself as much as possible and then have an idea of what i like to learn about and like to purchase what do i like to buy 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 simply just purely you understand pumps like pump schemes or something i understand a lot of individuals generated income on shiba inu i understand a great deal of individuals earned money on dogecoin that’s fantastic to hear i do not wish to do that that that’s not me i pick not to and i’m not telling anybody they should or they shouldn’t because there are a lot of individuals that have actually done well i choose not to do that one because they’re they trade keep in mind 24 7 365.
i don’t wish to go to sleep one night and i’m up here and get up and i’m down here since what will occur is i’ll never sleep again and again from a psychological standpoint i do not desire that i i try to discover quite a bit about the ones that i have an interest in or discover you understand discover why i might be interested why they may have worth and truthfully male it simply takes a lot of education the other thing i’ll say about that genuine rapidly is you hear a great deal of individuals who don’t comprehend a lot about crypto or or are truly against it saying stating i don’t comprehend how there can be all these cryptocurrencies one of them needs to win however that’s that’s not the case they are all they they can or a lot of them can exist on their own much of them are a currency that is for a specific 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 financial network alright if eth is the currency of the ethereum network so there’s a whole network there and it needs to have his own it it needs to have its own currency to operate efficiently so it so if we feel and and look this this enters a little bit of a viewpoint i’m a huge defy guy i love decentralized finance and part of the reason is since i have actually been in finance for so long and i know where the inadequacies are and i know if we can take a few of those inefficiencies out of the system and we can use blockchain innovation to do it that would be excellent the important things is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be actually efficient running on dollars operating 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 very much truth to the assertion that since there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to enter into them so i got to determine which one’s going to be the winner it is going to once again in my viewpoint start to begin to swallow up the standard financial system and i do not indicate that whatever else is going to go away i imply my sensation is banks and the crypto that the procedures and whatever are going to start interacting they’re going to begin integrating together which’s where you’re going to see a lot of this worth so there’s so much cash in the traditional financing system that’s going to make its way 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 since it’s just a it’s basically a database in a network you get informed and again when you get educated have an investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar solely broadcast for etoro us club members our webinars let members straight communicate with our visitors using a q a and any person or you can sign up with etoro club and u.s club members get a lot of benefits such as an etoro swag bag special access to our monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and exclusive invitations to irl yes reality etoro occasions make certain to take a look at the description for any advertising offers and to get more information about our fantastic guests i’ll see you in etoro us’s club Nash Vs Coinbase.