There’s all these new cryptos is constantly flooding in…Chat Etoro… i imply how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you discover the the very essentials here’s how bitcoin works and and we talk with a great deal of again monetary consultants here’s simply how bitcoin works and once you understand bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you start to enter 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 comes from comprehending how bitcoin functions then you get into that you know all these new tokens all these new cryptocurrencies a few of them are literally just there to attempt to where they have no performance it’s just we hope
that the price tomorrow is higher than the rate today that’s the only factor you’re entering into it and that originates from education understanding and once again going back to an investment thesis truthfully and saying i’m not going to invest in anything just because i saw some dude pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research and learn what it is and discover where it fits for me um i you know naturally need to do a whole lot of research i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being listed on some exchange and i’m and i go i have actually never ever even i can’t believe i’ve never ever heard of that i get a huge ego and i’m like how might i not have actually heard of that but i have it and in some way it gets noted and there are probably lots of other individuals stating the same things about cryptos that i know a lot about because i i tend to take a look at a lot of defy things i tend to look a lot of those tokens so the the method i look at it is one there are a few ways one is i try 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 invest in do i like to buy the ones that have some sort of cash flow or liquidity procedure or something like that so comprehending those i do not like to invest in some that are simply simply purely you know pumps like pump plans or something i understand a lot of people earned money on shiba inu i understand a great deal of individuals made money on dogecoin that’s terrific to hear i do not want to do that that that’s not me i select not to and i’m not telling anybody they ought to or they shouldn’t because there are a great deal of individuals that have actually done well i select not to do that a person due to the fact that they’re they trade remember 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 due to the fact that what will happen is i’ll never sleep again and again from a psychological viewpoint i do not desire that i i attempt to discover quite a bit about the ones that i’m interested in or learn you understand learn why i might be interested why they might have value and honestly guy it simply takes a great deal of education the other thing i’ll say about that genuine quickly is you hear a great deal of individuals who don’t comprehend a lot about crypto or or are truly against it stating saying i don’t 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 a lot 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 fine 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 requires to have its own currency to work efficiently so it so if we feel and and look this this enters a bit of an opinion i’m a big defy man i love decentralized finance and part of the reason is because i’ve remained in financing for so long and i know where the inadequacies are and i know if we can take a few of those ineffectiveness out of the system and we can use blockchain technology to do it that would be fantastic the thing is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain innovation be really effective operating 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 because there’s all these cryptocurrencies there’s a limited quantity of dollars that’s going to go into them so i got to find out which one’s going to be the winner it is going to again in my viewpoint start to begin to swallow up the conventional monetary system and i do not imply that everything else is going to go away i suggest my feeling is banks and the crypto that the procedures and whatever are going to start working together they’re going to start integrating together and that’s where you’re going to see a lot of this value so there’s a lot money in the conventional 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 since it’s just a it’s basically a database in a network you get informed and once again when you get informed 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 directly connect with our visitors using a q a and anybody or you can sign up with etoro club and u.s club members get a bunch of perks such as an etoro boodle bag special access to our regular monthly webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can also get things like a subscription of the wall street journal delta pro and special invites to irl yes real life etoro events make sure to take a look at the description for any promotional deals and to get more information about our amazing visitors i’ll see you in etoro us’s club Chat Etoro.