There’s all these new cryptos is constantly flooding in…Coinbase Vs Quickbit… i mean how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you find out the the very fundamentals here’s how bitcoin works and and we speak to a lot of again financial advisors here’s just how bitcoin works and once you understand bitcoin you comprehend things like blockchain technology you comprehend openness and immutability and all those things and after that you start to enter what is the 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 new cryptocurrencies a few of them are literally simply there to try to where they have no performance it’s simply we hope
that the cost tomorrow is higher than the rate today that’s the only factor you’re entering it and that comes from education understanding and again going back to an investment thesis truthfully 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 find out what it is and learn where it fits for me um i you know of course need to do a great deal of research i can’t stay up to date with most likely ten percent of the the tokens and cryptos that come out uh each week i see a new one being listed on some exchange and i’m and i go i’ve never ever even i can’t think i’ve never become aware of that i get a big ego and i’m like how might i not have heard of that but i have it and in some way it gets listed and there are probably tons of other individuals stating the very same aspects of cryptos that i understand a lot about because i i tend to look at a lot of defy stuff i tend to look a great deal of those tokens so the the way i take a look at it is one there are a few methods one is i attempt to inform myself as much as possible and then have an idea of what i like to learn more about and like to purchase what do i like to buy do i like to buy the ones that have some sort of cash flow or liquidity procedure or something like that so understanding those i don’t like to buy some that are just simply purely you know pumps like pump schemes or something i know a lot of individuals earned money on shiba inu i know a lot of people made money on dogecoin that’s excellent to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anybody they must or they shouldn’t because there are a lot of individuals that have succeeded i choose not to do that a person due to the fact that they’re they trade keep in mind 24 7 365.
i do not wish to go to sleep one night and i’m up here and get up and i’m down here due to the fact that what will happen is i’ll never sleep again and again from an emotional viewpoint i don’t want that i i try to learn quite a bit about the ones that i have an interest in or discover you understand learn why i might be interested why they may have value and honestly male it simply takes a whole lot of education the other thing i’ll say about that genuine quickly is you hear a lot of individuals who don’t understand a lot about crypto or or are really against it stating stating i don’t understand how there can be all these cryptocurrencies among them has to win but that’s that’s not the case they are all they they can or a number of them can exist on their own many 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 economic network okay 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 work efficiently so it so if we feel and and look this this gets into a little bit of an opinion i’m a big defy man i love decentralized finance 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 understand if we can take a few of those inefficiencies out of the system and we can use blockchain technology to do it that would be excellent the thing is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be actually effective 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 efficient 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 minimal amount of dollars that’s going to enter into them so i got to figure out which one’s going to be the winner it is going to once again in my viewpoint start to begin to engulf the conventional monetary system and i do not indicate that everything else is going to disappear i suggest my sensation is banks and the crypto that the procedures and whatever are going to begin interacting they’re going to begin integrating together which’s where you’re going to see a good deal of this worth so there’s a lot cash in the conventional financing system that’s going to make its method into what we presently call the crypto system or the
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Defi system and eventually it’s just going to be called the financial system since it’s simply a it’s basically a database in a network you get informed and once again as soon as you get informed have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar specifically relayed for etoro us club members our webinars let members straight interact with our guests using a q a and anybody or you can join etoro club and u.s club members get a lot of advantages such as an etoro boodle bag unique access to our monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a subscription of the wall street journal delta pro and special invitations to irl yes real life etoro occasions be sure to check out the description for any advertising offers and to read more about our fantastic visitors i’ll see you in etoro us’s club Coinbase Vs Quickbit.