There’s all these new cryptos is continuously flooding in…Authortest… i suggest how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that honestly is about education so you if you find out the the really fundamentals here’s how bitcoin works and and we talk with a great deal of once again financial consultants here’s simply how bitcoin works and when you comprehend bitcoin you comprehend things like blockchain technology you understand openness and immutability and all those things and then you begin to enter what is the 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 get into that you understand all these brand-new tokens all these brand-new cryptocurrencies some of them are literally 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 into it which comes from education understanding and again returning to an investment thesis honestly and stating i’m not going to purchase 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 learn what it is and find out where it fits for me um i you understand of course have to do a great deal of research study 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 brand-new one being listed on some exchange and i’m and i go i’ve never ever even i can’t believe i have actually never ever heard of that i get a big ego and i’m like how might i not have actually become aware of that however i have it and in some way it gets listed and there are probably lots of other people saying the same things about cryptos that i know a lot about because i i tend to look at a lot of defy stuff i tend to look a lot of those tokens so the the way i look at it is one there are a couple of ways one is i try to educate myself as much as possible and then have a concept of what i like to find out about and like to invest in what do i like to buy do i like to purchase the ones that have some sort of capital or liquidity procedure or something like that so understanding those i do not like to invest in some that are just simply simply you understand pumps like pump plans or something i know a lot of people earned money on shiba inu i understand a lot of individuals earned money on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i choose not to and i’m not telling anyone they ought to or they shouldn’t because there are a great deal of people that have done well i choose not to do that a person since 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 awaken and i’m down here because what will occur is i’ll never ever sleep again and again from a psychological standpoint i don’t desire that i i attempt to learn quite a bit about the ones that i’m interested in or learn you understand learn why i might be interested why they may have worth and honestly male it simply takes a great deal of education the other thing i’ll say about that genuine rapidly is you hear a lot of people who do not comprehend a lot about crypto or or are actually against it stating saying i do not comprehend 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 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 okay 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 requires to have its own currency to operate effectively so it so if we feel and and look this this enters a bit of an opinion i’m a huge defy man i love decentralized financing and part of the reason is since i have actually been in financing for so long and i understand where the ineffectiveness are and i know if we can take some of those ineffectiveness out of the system and we can use blockchain innovation to do it that would be terrific the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be truly efficient operating on dollars running on us dollars over the banking system you have 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 because there’s all these cryptocurrencies there’s a restricted 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 conventional financial system and i do not indicate that whatever else is going to disappear i imply my sensation is banks and the crypto that the procedures and everything are going to start working together they’re going to begin incorporating together and that’s where you’re going to see a lot of this value so there’s a lot 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 simply going to be called the monetary system because it’s simply a it’s basically a database in a network you get informed and again when you get informed have a financial investment thesis here’s what i like to buy here’s what i don’t this is a clip from our webinar exclusively relayed for etoro us club members our webinars let members straight communicate with our visitors utilizing a q a and anybody or you can join etoro club and u.s club members get a bunch 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 greater tiers you can also get things like a membership of the wall street journal delta pro and exclusive invitations to irl yes real life etoro events be sure to take a look at the description for any promotional deals and to read more about our incredible guests i’ll see you in etoro us’s club Authortest.