EP 198: PART 2/2: INVESTING STRATEGIES AND CRYPTO DISCUSSIONS W/ PROSPERITYFUND - Transcripts

June 02, 2022

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On today’s podcast, I got Ari aka ProsperityFund on the podcast. He is a crypto content creator and fellow XRP family member. We talk about XRP, the lawsuit and some deep conversations about entrepreneurship. This is part 2 where we talk about our crypto journey and investment strategies. Enjoy!

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Transcript

you what's

up, Cryptologic podcast listeners welcome back to part two of episode 1 98 with prosperity Fund. Yeah, yeah. I had to run some errands in the morning. So it kind of had to like, we had to split it up into a part two and uh, we're gonna get right into it. I don't know, we just spoke before we got on air and you know, you have the question that you're gonna ask and then we'll go from there.

Yeah. So I wanted to find out more about your history. You know, we talked a little bit of mine. I'm curious how you got into crypto, what were you doing before that? You know, what's your story and how did you get here?

Of course. So, um, my journey into crypto was, was, was very um kind of Normal for a lot of people in 2021. It was kind of like uh, like I want to say predictable, but it was like, I think a lot of people have that same story as me, right? And it all had to do with dog coin. But when it came to crypto, like I heard about Bitcoin in 2015 from the movie dope. And I've said it on the podcast since I started the podcast and the movie dope. I don't know if you've seen it, but um Very, very old. It's a movie came out 2015. It was a funny movie. It's about this kid that's like super smart. He's trying to get into um, I forget what the college was. I think it was Yale or Harvard or something and he ends up being a uh selling drugs right?

And then he like converts it into Bitcoin. And he wrote this paper at the end. Yeah he writes his paper and then it's like can you tell that I started a business and I made like $1 million bitcoins. Oh man. Like like I didn't think of it as an investment right? I'm pretty sure if you're in deep in the crypto space you probably did. But if you didn't you thought it was just like oh I was buying drugs or guns or things in the dark web with it right? So I didn't see it as a thing to buy and hold and invest and like didn't treat it as a digital asset. I just thought it was a currency. And then I was like well I don't want to get in trouble buying this and then people, the government's gonna think that I'm a you know buying illegal things right? I was naive, you know I was like so I was like like seven years ago right? So fast forward.

Um I have an I. T. Guy I've been in I. T. I do I. T. Work um the pandemic I moved from I. T. To then also being like a loan officer like like for uh like brokering deals for small businesses. So I was I was making money doing that and not one time was I investing? I I didn't understand financial literacy. Like I had money, I would make money.

You know I had a salary and then I went and got commission based pay and I was just making money. I wanted to go I want to hang out with my friends and you know what I mean? Like I was so naive with my money. Like most people are right. Like my parents didn't didn't didn't you know that came from you know from different countries, right? I'm the first like of my family to be born in America right? So my background, my father is from CUBA and my mom's from Vietnam. So

yeah

It's you know what I mean? So my dad worked in a dry cleaners for you know my whole like young life until I was like 16. And he retired right? And you know my parents had me late. So like my mom was like 39, when she had me. So she had me like kind of late late in her later in her life.

Are you the youngest?

I'm the youngest? Yes my sister's like 40 something, my brother, you know I'm young and I'm 29 right? So I was born in 92. So It's very but I have like a young I feel like I have a young soul. You know like people never always, every time I tell someone in 29 they're like well I feel like you're 22 or something 23. But I just have like a young. So I've always been that way I just keep my you know my youth in me, you know somehow I don't know how I do it. But but yeah I never understood financial literacy, right? So the pandemic obviously happened destroyed a lot of businesses. A lot of people including the business was working at which was in charge of getting loans for small businesses and what got shut down the most small businesses. So there was no lead coming in. I was able to qualify for loans.

People were getting P. P. P. Loans. You were competing with the government at that point. You know, I won't get a loan from the. Yeah so from there that's when I was like well I had some money that came in that from the job that was paying me. And then you know, I walked away from them. I gotta I gotta basically laid off. I was like I gotta go right so I left, I had some money just like sit on for a little bit and I was like what am I going to do? So that's when I started um finding out about drop shipping, I started drop shipping, starting online businesses. I used my skills of being I.

T. Being able to build websites and then I was able to um basically learn facebook ads from the ground up? So now I'm like well versed in facebook ads became like a facebook partner, google partner learned advertising and then um within a year right? And this crypto was still not involved. I then started was like man I I started to read up on coach JV started reading rate dolly like you said and rich dad, poor dad, I started consuming that and I've always been a fan of Gary V but I went deeper than that right? And then um I started looking into investing in the stocks. So I started learning about you know put options cops, all that stuff right? And buying shares of AMC shares I bought, I started buying like oil, you know stock and I started buying things that were shut down. Dave and buster's and things that were like oh they're all going to come back when the pandemic is, it's gonna be right at my mind was in the right place but it's just the money wasn't you know what I'm saying? So from there That was towards the tail end of 2020, going into 2021. We all know Elon musk tweeted about the coin right then that's what I said before we cut the podcast cut off my nephew, he's it's funny my nephew is like five years older than me? He texted me saying bro did you buy, have you bought deutsche cornett by some right now And I'm like what?

And he apparently bought like $300,400 worth back in November of 2020 when it was still under penny. So Doris Kearns already had $2.3 already, so he's already made a decent amount of money and it's going to keep going and that's where I started. I started to then don't laugh at me. I had a Robin Hood account because I bought my first crypto was bought on Robin Hood. Yeah. And then so I bought dodge coin. I was, I had friends that were in the hype, two people that I didn't even talk to for a long time calling me all over it. It was hysteria bro. I don't know if you felt that but it was mass hysteria. It seemed like everywhere. You could look like you would see crypto popping up everywhere. And then that's when I took a step back and I said all right, there's way more to this than just meme coin hype, right?

There has to be, this has to be a changing changing of a guard. Like something new is coming. I sensed it because I'm like people are hitting me up out of the woodwork out of nowhere. Just asking me about crypto and asking me if I knew I'm like, I don't know just because I'm a tech guy with, you know, like, so the the interesting thing about this whole situation was I had friends that were buying it and freaking out when it went to eight cents down to six cents down to four cents back up. They were freaking out. I never freaked out. I was just like, no, why would I sell it? Why am I going to time? Why am I doing that? I'm just gonna hold and buy when it goes low. I didn't understand. I didn't know what do I owe our means.

I didn't know what it means. I don't know any terminology and I was just feeling like this is not the right thing to do is if it goes to 89 and then he goes on to six and then sell at six because I cut my losses. I bought it to, oh, at least take some profits. Like that's when I stopped listening to them. And I was like, alright, there has to be more to this than just meets the eye, right? And that's when I started researching and from there I learned about coin market cap, learned about coin, get go learn about coin telegraph, learned about coindesk, learn about VCS. Then I was like, all right, well what else do I need to learn? And I started going on twitter and that's when crypto typed in crypto and I'm like, yeah, there's a whole ecosystem out here. There's like thousands of people that I was like, alright, let me get away from all this like height safe moon and Ellen gate and all these weird names and come rocky all these weird names that were, you know, and I was like where there has to be legit tokens out here and that's when I looked at the top 100 and that's when I saw ethereum and so I know Bitcoin right? And then ethereum X, R, P B and B went down like what does B and B do, What does it do? Oh it's exchange. Oh it's an ecosystem.

BNB has smart chain has different chains, it can do this, I can do that. Oh got it. These medications are being built on here And then I started, you know what? I'm going

to start putting pieces together. I mean for me, for me it was kind of like, you know, even on your screen right now, on the screen here on the cryptologic pod, you have the coin market cap, right? You go to the top, the top left corner of the entire page, top left corner, you'll see it says crypto there's almost 20,000 crypto 1000. You know when I do my lives, I'll usually mention that and I'll mention how many kryptos and it just keeps on getting larger and larger and in my opinion, 99% of all this will die out either through regulation or lack of liquidity, people getting smarter institutional money and people will, people will chase people are just trying to chase games. And so when they realize people are when the institutional money comes in, they're gonna see the games are coming to the ones that are actually real crypto

bro, That's that's literally what what like, like I like what was I was thinking about? What I figured out was like, okay, there has to be this is if this is like, the main question I had was is this here to stay. That was my main question is crypto as a whole, the Blockchain technology here to stay on top of N. F. T. S. Right? Because I also dove in the N. F. T. Because we started talking about it and I got into it and I got really addicted to that to the two narratives. I was like, yes, it is why, Because the the elites, they want to make more money and this is a new baby asset class that they can potentially take over.

But what they're waiting for is regulation, once regulation is here, they're going to be able to come in. I've used this narrative this metaphor before. We us as the retail investors. When the car was built, there was no paved roads yet. It was dirt gravel road and terrible. There's no street lights or nothing. We're the ones driving the car on the this nasty gravel

tires waiting

for the traffic lights, they're waiting for the black top to be smooth, then they're going to bust their nice cars off and push us off the road. That's that's that's the that's the journey that we're on. We're actually have the opportunity to be in in in front. But the thing is we have to be in the right ones and that's where I was like okay I just gotta be in the right ones and I have to take this. That's my motto, respect the space. I have to do my due diligence. I spent I cut off everything like and I'm a big movie fan, I'm a marvel fan, a music, you know, I'm like into that stuff right? And I cut all that out and I researched like 6 to 10 hours my whole just consumed my life where I was researching and learning everything I can every single day to where I was like borderline crazy. It seemed like because I have a lot of ground I got a lot of ground to cover. You know, I'm not sure if you're like that or have you been in crypto for like a long time or what?

So yeah, so for me I kind of got into crypto like I mentioned I was in business school, I got my M. B. A. At Georgetown in Washington D. C. So I had you know traditional business training and especially on venture capital companies startups and entrepreneurship. I did a lot of startup competitions. I won a bunch of competitions. I learned how to master the elevator pitch and how to explain things and do research and compare and contrast and you know and I look for weaknesses, look for gains pain points and so the main thing that I that I was looking for were like what is a pain point or any of these things actually solving a pain point in the economy because you have to understand right people are sticking something called stickiness. Like when businesses are sticky it means it's very hard to transition someone away from something else if they're so used to it. However if you significantly improve it, make it faster greener better and it makes it easier for people to do things or save money then you have a concept there. So originally I'm still not like I I believe that N.

F. T. S are here to stay but I'm not like an N. F. T. Invest. I usually invest in infrastructure tokens or coins that I believe will play a role in the future of financial system because the way just like you had that car example about the market space itself. My example is kind of like between utility tokens and the other kryptos it's kind of like you know during the pandemic people like toilet paper and Clorox was like impossible to get. Now we have baby formula shortages right? But like but like people are like you don't when you're a tight situation of the economy. People care about the essentials, they don't care about the leisure, like the movies, the vacations, you know the games, you know all that kind of stuff. So can you make a lot of money on gaming tokens and N.

F. T. S. Probably. But when you know the market goes down those are the ones that are gonna get battered the most because they're not as essential as and that's like anything, you know baseball cards, any type of collectible, you're going to be more worried about putting food on the table, getting gas and making your life successful than doing that. So that's my thinking was like let me invest in not the toilet paper kryptos but the essential Kryptos, if you know what I mean by all the Clorox wipes the water, the canned foods, like things that you need and particularly not only things that we need, but things that solve pain points. One of the things and you were mentioning earlier on in our conversation, you know like tips on entrepreneurship and startups and there's a lot of great books I could share, you know, like the lean startup and there's a lot of really interesting books at the start up of you. These are great, great books on entrepreneurship and venture deals for venture capital. Um but but when it comes to this whole space, what I really found is when you're getting involved in a startup you need to or and I look at crypto is like a startup, crypto is basically a bunch of fintech or software companies essentially promoting a new type of technology distributed ledger technology Blockchain, hash graph whatever it is tangles to promote those for solving an issue. If they actually solve a real world issue that isn't already solved now and they can do it better faster cheaper then you've solved the pain point because ultimately you know the first time whenever I speak to someone the young people are very into it right? Like if you're in your thirties and under twenties thirties even teens, crypto is like all the rage if you're like you know 50 plus they're like what's all this crypto about what does it actually do? You know why do I need this?

You know to the question So I think that if we want to bring more institutional adoption we need to showcase what is the need here. What is the utility here? So that's why I feel more confident investing hard earned capital and funds into crypto that have a real world, solve real world clients, real real world customers and real world growth. And that's kind of how we enter the X. R. P. Thing because we know that ripple uses X. R. P. In their technology stack and in their O. D. L.

On demand liquidity platform. And that had an eight X. Like in the past. So like that to me is like showing real market adoption growth certainly outside the United States but um hopefully after the case concludes there settles that would advance exponentially if the United States gave the clear

Yeah, that's, that was awesome. Fire. That was fire man. That was great. Like that. That is like, that's like, like you said, like that's very critical for the institution to get in. Like what is, what pain point is it, is it solving? Right? And I also thought about this a lot too, is in regards of thinking of this as other networks or Softwares. It's like one token can say they'll fix this problem, write another one can pop up that has the money that has the backing of VCS or anything like that sponsorships partnerships and can basically do what that one can do, but better and fast because it has the money. And I kinda relate it back to how when we had the app wave, when everyone was like, oh, build an app building, that was like a thing before that. It was website building, website, building website, you need to have a website and then, and then it was, oh, you can build an app cannot be an app.

What app ideas, right? People were thinking about making an app for everything, right?

We're

at that point now where it's literally an app for anything, you can think about it. You know, you go find a girlfriend on the app now, right? That's normal. That's normal now these days. Right? So in a sense. So that's how I look at it as in that regard where it's a new wave of developing developers, We went to websites, apps and our crypto token. Can, can you create that's gonna solve a certain problem. And I look at it like this, It's like think about the last few dominant social media apps or apps in general, Google buys youtube, takes that over. And now google's own owns youtube, you use one of the most, the best place to post a video, like informational to create a show or anything like that. Right? Um, and then you had, um, Snapchat, right?

And they wanted to, um, when they launched, was it stories instagram? Wanted to buy Snapchat, Snapchat said no instagram said, okay, we'll make our own version stories wiped out Snapchat basically. No one really uses Snapchat, right? Facebook bought instagram, facebook instagram, we're gonna buy instagram, they buy instagram and then vine twitter vine, you know what I mean? They just consume them. They consume them. And musically wasn't was, I can't remember the history of that, but I think wasn't Tiktok didn't Tiktok that company by musically and then rebranded the Tiktok like a company took over

me. But

yeah, something like that. Right? We see this all over the place and facebook buying WhatsApp, These innovative, amazing technologies comes out and then who wants to buy them? The big boys, the big monopoly ones. They wanted to consume them and take.

And sometimes that's actually the game plan for these young startups. Sometimes the startups their game plan is get enough runway to become successful enough that they don't want to sell their company or basically get bought out. Like some of these companies startups design themselves just to get bought out eventually and get incorporated. The

thing that's beautiful about crypto is I think in a decentralized landscape is that instead of being consumed by them they can bridge and work with them or look at a avalanche and X. R. P. There's a bridge there now now there's a bridge right? And you can look at um Yeah and we'll talk about that a little bit polygon and ethereum right? These tokens oh we want to help ethereum connect to other networks and that's why I was saying like the world and crypto eventually will need to be interoperable. You can't exist on one ecosystem forever. You can't just be on finance and just live on finance. You need to be able to move your U. S. C. T.

Or whatever or die from finance to ethereum network. You need to be able to smoothly and transition effortlessly. That that's that's the power of crypto and it's most truest form is being able to to send money all around the world easily and safely. So if I have died over here in the theorem and you but you you have Evelyn, I should be able to swap it and switch it and send it to you and you should get it no matter what, you shouldn't have to down this and do that and all this extra stuff which is what a lot of people are gonna do right now you know I mean does this swap that swap that wallet eventually? Well I think there will be an ecosystem where everything is basically interoperable agnostic to where everything is just one in a sense.

So that's the big debate. The big debate. I think a lot of people have to really think about when it comes to crypto is like you know a lot of like I happen to like you know coins like quant and uh and I like you know chain link and things that are interoperability. Um I have yeah in a in a bull market I'll tell you what you want all my all the kryptos that I hold in a bull market potential season like when we're going up would include Bitcoin a theory on X. R. P. Let's go through the list calderon and Excel, M H bar dan link want. Um There's definitely a lot of kryptos out there that have XTC a lot of interesting you know potential in use cases. So I try to stick to the utility or infrastructure kryptos as well as maybe interoperable kryptos but again the whole concept behind there's definitely gonna need to be interoperability but the question is do you need a separate interoperability token to accomplish that interoperability will there just be bridges automatically that do that for example ripple for the X. R. P. Ledger I think or on its own they have the inter ledger protocol the I.

L. P. And so they might already have built in cross collaboration built into these networks. But you know we were mentioning this this apex avalanche bridge. So basically what happened was a lot of people in the market they looked at the situation of it's called cross trainer multi chain. There's different approaches here but essentially what's happening is people were trying to send you know stuff across for interoperability but a lot of times people got hacked and lost money and because they weren't secure bridges. So the cool part about this whole avalanche X. RP bridge through apex bridge is that it's an insured bridge. So they're using insurance to protect the bridge and they're like stress testing it so the insurance agency is not going to cover it until they stress test the network for hacks and then once that happens then they'll do that because you can't have a situation where I believe I don't think it was so long. I mean Salon has gotten dude I said I said it a few times already and could I be wrong in the future for sure could be started started which is fine. But my opinion right now is that solana is the catfish of crypto because it looks good. It's got the venture money, but it just keeps on going down, you know, bridge, I wouldn't, and I have, and I'm now running a fund, I would never touch so on as a fund manager period.

If I saw something went down multiple times multiple times and has bridge hacks and then alternative, I have something like an al grande or an ex RP that never goes down. Why would I ever in a million years go for solana. It makes no sense. They might throw a good party. I mean a lot of influencers and I'm not here to hate on someone's bags. Don't think I'm trying to take away your bags. I'm just trying to protect, you know, you know, you have the long term investment here because if you were an institutional company or fund and you had 100 million or a billion dollars to invest, are you going to invest in something that goes down eight times in a year and, and then it gets hacked or you're gonna invest in things that function. I mean kind of, I like X RP Bitcoin ethereum, they're battle tested. They, they've been around for a decade, right? And that's still not even considered a lot of time in the world of business, but at least they have a track record. Whereas these newer guys, they can all just be pump and dumps and that's why I have to be so careful.

That's the, that's the another one of the biggest things the pump and dumps, its gets scary like it's the wild wild West right now, and that's like you said 99% of these wiped out. And I totally agree with that, that's that's what it's going to take to see the trillions and trillions of money that flows into the retail investors aren't going to get it there, it's going to be the people that with the wealth, the billionaires, the multibillionaires, they're the ones and the funds, The hedge funds and and and the VC venture capitalists that that's the type of money that's going to take crypto from a $1.25 trillion dollar market.

I'll tell you something, I had a conversation with uh multi millionaire billionaire investor. Um And I was talking to him about crypto and I was talking to him about my whole investment thesis or kind of how I approach crypto and investing in Fintech and everything. And he's like, you know, I saw these like, you know, teenagers invested in N. F. T. S. Are making so much money, why don't you create an N. F. T. For me? And I was like, you know, I could like, I'm not so into N. F.

T. S. Because I don't know how they perform during the bear market because they usually drop the most, and the question is you know how effective I I definitely think there's a place for N. F. T. S the question is what kind and how many and under what conditions, you know, in the marketplace. But he's like, I don't care. These guys, these guys were just like if you can make money doing it. So I have kind of two different approaches. I think that the individual risk on investor that's wealthy might be willing to, you know, make the best. And I think those are the people that are investing in, you know, major N. F.

T. Projects and and you have, you know, brand, because I don't want to feel like they're missing out. So they're definitely gonna get in the N. F. T craze and everything like that. But I do think that like the institutional money, I don't see them buying an N. F. T. I see them maybe buying the infrastructure behind. And you know what I mean? I don't see like maybe they would invest in something like an open sea or some sort of exchange that helps promote those. But I don't see them ever getting involved.

They're not going to buy a board, you know what I mean? Only

individuals would like that's that's what we've seen so far, like NBA players, actors, musicians, um the individual people will buy particular N. F. T. S. And stuff like that. It's like, it's like, I don't know, it's not, it's like buying art right? For a lot of them and some have utility. Some don't, it's still too early to create real utility Gary V. Has proven that you can do utility with it, right? You by the holy that's your ticket to go into his event every year, right? And obviously musicians, You get tickets for 30% off merch for life as long as you hold is empty or you get one free ticket a year to go to my concert in your hometown or something like that. Right?

So that's where an N. F. T. In my opinion makes sense.

Yeah so like that can play in. Um Whereas um people can drop N. F. T. S. With music on and you have ownership of it, right? It creates ownership and that's that's the good part about it. Obviously there's a lot of those profile pictures ones where you buy and you have to buy it based on scarcity and and hopefully supply and demand. Oh there's none left in the market. If you really want that, you're gonna have to pay for it. Just like shoes if they drop 200 pairs of jordans And this is the only time they ever gonna drop it that the value of the $20 shoes are gonna go up as long as people want them. If they're ugly and no one wants them then then values not gonna.

And it all depends on that last. That first guy that sells them or the last guy that sells them. If if the market is someone's bidding $10,000 for one. And one guy says well I'll sell mine for $1000 you just lowered the floor price nine grand right? It's like there's so many dynamics to it but that's how N. F. T. Is playing. And and it depends and one real quick thing I was reading somewhere where it says that with N. F. T. S.

And certain tokens web three basically that could be the new version of a patron. For example, like if you build a community project or a community token for your community, you can turn that into a way of making it like a patreon

because you can

Offer things just like a Patreon, Hey pay me $10 a month and you get exclusive content, exclusive things. Livestream shoutouts. The N. F. T. Is the same thing. You hold this N. F. T. You get so and so and

it's like it's like a private access card

and they're basically banking. But this is where it gets interesting because now they're banking on your success as an influencer. So imagine you have your own empty platform. You started now with your 20,000 followers and you say hey with this M. T. You get to go on my livestream whenever you want, you get 30% off March for life. As long as you hold this, you get um meet and greet with me whenever you know when I when I have a conference right? You have a crypto conference and then you in a year or two years from now, you grow and have three, you end up having three million followers and you blow up now that how valuable is that N. F. T. Now because now you're you know what I'm saying? So that's why it's like wow that could really happen.

It's

kind of like rookie cards. Like I don't know if you ever collected sports cards but for me it's like

you have

a ken, Griffey Jr like

like Michael Jordan

or Lebron, you know rookie card like when they first started no one really cared, you know now it's like whoa you know a rookie card P. S. A. 10, it's like yo with that

right?

So like so that's kind of that's kind of I'm gonna say something that I think is a little a little out there, but I think it's true um I think and don't get upset. Bitcoin maxis do not get upset at me. I still plan on holding Bitcoin and you know in my portfolio but I look at Bitcoin as a rich person's N. F.

T. I

just think that that's what it is because what's the logic behind an N. F. T. Okay this is not the non utility based in ft

scarcity

social status etcetera. So now you're telling rich billionaires There's only 21 million Bitcoin, you're only the richest and you know most successful business people have this Bitcoin in there and they're thing of course I have a Bitcoin you know so I see a Bitcoin. Um So like that's kind of how I see it because payments perspective Bitcoin is horrible. I mean let's be real. Bitcoin is good because it was the first mover and it does have the benefit of its benefit is actually it's negative. So like the benefit of it is that it's decentralized and they use mining so therefore it can't just be thrown away so easily. The negative is it's so energy intensive that as the world moves more towards this green energy movement um you're gonna see that as a conflict and you already see it happening as a conflict. Like the sec is now having people have S. E. S. G. Disclosures which means environmental social governance is basically a corporate term for like we're green we're very green energy here.

So so that is something you need to be aware of but I wish the whole Bitcoin as a store of value thing with stores of value is you have to be really careful what happens if someone else 5 10 years from now creates another type of coin You know Bitcoin plus or something right? And it only has 10 million tokens so now it's even more scarce and it also uses mind. Yeah it's more scarce it has more and so now it's like well I want that is this silver now it's like so there's a whole thing that you can look this up, like tulips, seashells in history, different things with value stores of value. Right? So it's like I'm not talking about like, you know the Rose from Beauty and the Beast, you know what I mean? And talked about just regular tulips. So you have to understand that stores of value can change over time. And so for me it's like, am I gonna put my entire net worth into something that is uh that is basically determined by the market conditions, you know? Yes, it's digital. But like could anything could be scarce and have value and value can change over time. Different societies value different things. We value Bitcoin because we think that it's scarce and we're looking for a sense of security when we have these crazy markets.

Oh yeah, you're pulling out the tulips right? I've seen the artwork

of it where tuna went crazy.

Yes. What is the value of Bitcoin? And and what makes me nervous is that, you know, I definitely would have Bitcoin in my portfolio. Don't get me wrong. And I would be looking for like, you know, the winds to change, you know, societal or political winds to change in the sense of are they going to go against these energy intensive kryptos? You already start to see Elena saying, well we can try to test it out with uh you know, green energy or solar energy or volcanic energy in El Salvador. So those are the only things that I see as the outs if that doesn't get taken on Bitcoin is done in my opinion, because we know the world whether you like it or not, it's just moving towards a more green thing. You know, it's basically the whole globalist versus the populist, the populous are all like, we want to take care of our people, and now the globalists are like, we gotta think about the future and protecting the environment and who doesn't want to protect the environment. And I'm not getting to the whole debate about whether climate change is is climate change is real? The question is how much of it is manmade clause versus, you know, on its own. And that's that's really what that whole debate is about. I don't wanna get into that.

But the point is the point is that like you have, the people that are currently in power, particularly in America are very pro green energy. So you gotta be smart about your investment. You could be like, this is the greatest libertarian thing in the world, but is that gonna last you 10 years? I don't know. So, I think in the short term, there's so much excitement about it and it has the regulatory clarity as a security. Like I mentioned in part one of our series here is that, you know, Bitcoins got the regulatory regulatory clarity, that's not security, but it has this energy problem and that's why ethereum I believe is going to proof of stake because they realize that it doesn't work when you have when you have a large amount of transactions that are occurring a large volume of transactions. That's why ethereum keeps on bottlenecking and therefore they're making a proof of stake because they realize it will protect them from the green energy people and power and it'll be more efficient and so yes scalable it's faster. So that that's kind of where I see this whole thing and I think X. R. P. Had a head start in that in that

way. So

that's that's where it gets into this whole like with the lawsuit a weapon to help basically give a theory and more time to catch up.

Because that would have been if X. R. P. Never ripple never went to the lawsuit I think would've been wiped off the face of the earth. In a sense X. R. P. Would have just been utilized and been the place to just buy your LFTs open. See the universe would have been completely different. I mean in two years time in two years time maybe but think about it. That's how I wonder is the X. R.

P. Ecosystem something that can be utilize not just as a means of a bridge for for for for currency in regards of um using their their ledger for for banks and stuff like that right? Is it possible that an ecosystem can exist on the X. R. P. Ecosystem similar to how ethereum is being utilized with that

question and. Yeah and I think that when I was actually reading this that I think the taliban veteran from ethereum was like crashing on someone's couch and maybe I was thinking about being an internet ripple or something and then he ended up leaving to go do smart contracts and ripple was more focused on payments. Now ripple by the way is bringing their planning. Well not ripple I should say the X. R. P validators on the X. R. P. Ledger have are basically voting on this XLs 20 which allow native N. F. T. Ability on the X.

R. P. Ledger. So X. R. P.

I. C. Is

expanding by leaps and bounds in different areas and from what I was reading earlier there is the ability to do those types of things and plus with all these bridges you'll have access. So like for example you mentioned this whole avalanche X. R. P. Connection. Well the apex bridge if you look that up a lot of these other platforms will use something called wrapped tokens are wrapped in this particular case which you would think well that's not extra P. So how does that help extra P. Well the answer is to wrap a token they have to take other token out of circulation. So it's basically like putting it like almost like in a in a I guess you could say like in a special box on its own um kind of like an escrow almost like of where that is and because of that that actually affects supply and demand which is what drives price. You know if you study any basic economics you'll know that supply and demand of the key factors you know how much is their supply, how much demand that's why it's not enough just to look at like the fundamentals of the project, you gotta look at economics, things like coin market cap coin gecko towards them, definitely definitely read what's going on. You know I was saying we were talking about the apex bridge and how you know they were basically allowing X. R.

P. L. The X. R. P. You know network basically interact with avalanche which is also another fast ecosystem and things the more you see things like that the more you say like why are they doing that right are they doing that because they believe that it's going to help their platform and everyone has an incentive to do something right? Uh From their perspective ex RP perspective it helps ex RP right development because more people will have european circulation from the avalanche perspective they're getting they basically they want to have a mutually beneficial relationship avalanche wants more more people to use their platform X. R. P. Wants people to more use their platform and so that interoperability is a key function and that's why as much as I love quant and chain link I have questions on like you know are there going to be systems built in that are going to be free you know to inter operate these things versus those other systems don't get me wrong I'm still bullish on Quant. I'm still bullish on chain link possibly flare as soon as it comes out to look more into that. But a lot of these interoperability you know solutions are definitely good I think.

Yeah. What did you say? Oh yeah yeah they have a solo because there's so much got that free air drop

though. I've already announced before. I'm building uh an empty collection. Oh and it's gonna be also genic.

Oh

really?

What's what's your NFC collection going to?

It's going to be X. R. P. Family.

It's gonna

Be it's dope. This is my first announced it before but that's the first time that I'm going to say here it's we're working by the studios is the studio that's working on the artwork right now and it's going to be that family. It's gonna be like people with traits and stuff is gonna be 589 of them. I'm dropping a

100

dropping 189 89 are gonna be I'm gonna make you I'm gonna get you one. Yeah I've already I've already like planned it out where 89 is going to be the X. R. P. Family and friends. So 89 of those will be characters based off of the people that I'm going to make them off of. So it looks like

you.

So people who are actually being supporters of you know you know and and people support me. I'm going to make a mint them one and just transferred over to

you. So

like

that's awesome. Yeah

it's pretty dope. I'm like I'm like trying to like

I haven't ventured into the whole N. F. T. Space as much right now but I mean long term I'm obviously gonna have to do some more deep diving. Maybe he'll teach me a little bit more about

that. It's awesome man it's it's cheap on X. R. P. Right? Obviously everyone knows open C. My second. I have another collection I'm working on behind that but that one's going to come out later. But this one is like the primary one on X. R. P. I've already done my research and it's gonna be on psychogenic.

Super cheap. Super efficient the way that like it could be done by one person right? But I was um grateful enough to be able to link up with Bear Studios. He's his team is going to help and put this vision in my head to reality. So yeah I can help you with anything you know

so if you were to walk someone through an example of how would they purchase your N. F. T. What do they need to do? Give me the 123.

The first thing is you got to get the solo genic wallet, the solo decks, right? Yeah it's an app. So let me go on the website. So you get the app right? Super super simple, you get

that. Okay

perfect. And then you would basically create your wallet or your NFC wallet if you're not, if you don't have one already and basically link it through the app and the website. So this is only available on browsers on the computer browser. Right? The marketplace. So this is basically one of excerpts versions of open sea. That's how I look at it

as so

now there's a marketplace here, it's still very new, very fresh, very new and that's why I'm like well I got to take advantage of being one of the originals out of the you know a few 100,000 are on here. So this is where you would go and I'm gonna

drop yeah

I'm gonna drop the collection on here, I'm gonna drop it as you can see all of them at once however much you want and it's super, cheap cheap so probably cost like 50 cents and I'm gonna drop the collection and you'll be able to click on it and then purchase your one that I said I'm gonna obviously set them as a set price and then from there if they sell out they sell out and then you have to re buy them right? And I can do white

list, it's

awesome because I can do whitelist within the solo genic marketplace so I can give people a timeframe of like, okay you're you're you're guaranteed to get at this price Uh for the next 16 hours, 14 hours wherever or a day. And after that if someone snags them all up, whatever they wanted to sell it as they saw it as right. But I

was solo genic, like the best place to get an F. T. S. On the X. R. P. Legend. It's

one of my favorite, it's one of the most simple in my favorite and there's another one that I was looking into. But for some reason Sola genic for me was just just just

just the

way the way the way um the way that it that the way that you can just launch an entity collection on here is just so so easy and seamless for me. And I was like alright yeah, obviously there's a lot,

you know, I would love if you could make videos on the process that you do this, that would be so, I feel like that would be so interesting as like an observer to be like, you know, a lot of people learn about MTs, they buy N. F. T. S. But like like

like

yeah like how do you create your own N. F. T. On the X. R. P. Or anything like, like, like like a like a few short episode series that would be something that would be interesting to me because then I could like, first of all you're sharing your own journey but then you're also like, you know showing people what it's all about, which also increases the marketability

of that's what I want. You know like I love, that's why I love speaking when I do the podcast speaking to other content creators because sometimes I feel like like man like none of my a lot of my friends aren't content creators right? And I have some that that try or whatever, but like speaking to another content creator that that just wants to give me their honest opinion. It's like something I'm so grateful for being in the crypto space

because I'm always, I'm always a perennial learner. I mean one of the most successful people, all the most successful people are constantly reading and learning,

you

know, I have an M. B. A. I have a joint, you know, you can say oh he's a fund manager, what I have to constantly be learning if you want to be at the edge of the frontier of technology, you need to be constantly learning from everyone and anyone at any time, no

matter the market

100%. And just because it doesn't mean that just cause you have a degree or your fun doesn't mean you know every single particular, right? And it's different markets so you have, you know, you might have and you might think well hey I didn't do X. Y. And Z. And this other guy did or vice versa or she did this and he did that. But you have a unique talent and knowledge that perhaps other people aren't as familiar or just like hey I want to learn more about this, this guy can teach me about this. So that's why I think that's it's very useful because there's a generational gap but there's also a interest gap meaning convince me maybe do a video. I'm like hey why would anyone buy an N. F. T. Then how do you make an N.

F. T. Something like that. I'm sure there are videos out there but certainly doing it for someone in the X. R. P. Community allows them to open their minds because most people when I think N. F. T. I think theory of polygon right? You think expensive, you think time consuming you think the traditional market places, you're not thinking these new platforms. So it's a good opportunity to like I guess showcase that

that's why I'm like so excited that being an ex ex RP investor and being someone that loves X. R. P. And in general, right? Something like this, being out there for anyone can just who an artist, a musician, anybody who has some type of talent, anything you can tokenize it and turn into the N. F. T. And that's why I was like man I was even thinking about when I want to successfully launch it just launch it doesn't have to sell out it doesn't have to do anything right just launch it and I want to create videos on it like you said. And I was like the thing is like when to do it like do I do it because the artwork is being designed right now so it's not I don't have um The artwork ready yet. I'm building that I want to I'm getting the 189 and I'm doing 100 a drop of 100 every like few months. So I'm slowly

dropping the

589 over time not all at once so kind of creating that scarcity factor and then obviously with that I'm going to have utility with it and basically whoever supports cryptologic well eventually you know we reap the benefits as I grow as a content creator and then other things I'm going to add onto it right? That's like my version of Patreon. I don't have a Patreon or anything like that. This is my version of it.

So

like Obama X. R. P. For like 50 XR 200 R. P. Whatever. And then if if someone wants to offer you 500 for it sell it you either way you win. You know what I mean? You know what I'm saying? So by three or four of them you can flip it like if it sells out it sells out you can flip it, you know that

it's

so cool man.

If I had more time I would totally do that kind of, I kind of envy guys like you who were who are like more into the N. F. T. Space because to me it's a space that I'd like to get into but with time constraints it's harder. So like getting someone you know that I know that's part of the X. R. P. Family or someone like that, you just feel a little bit more confident with what they're saying because you know, there are well researched investors appreciate that.

That's why I was thinking, I was like, okay, do I document this?

I'm telling

you average

crypto investor particularly X. R. P. Are not necessarily you know, there's a range, I've seen people on my channel that are you know, middle age and seniors too as young as teen. So it's it's a very big range. And so you might think that like you talked about N. F. T. S. You might be losing half the crowd out explaining all the details. So that's why it's like you have to remember like you know, one of the biggest lessons in public speaking is know your audience, right? Know your audience.

So like knowing your audience and then kind of sharing that that you know you'll see, you'll see what it takes but I would definitely be interested in learning more about it so I can I can imagine

I will bring my own flavor to the family. That's a new X. R. P. Family. I don't know. But that was my only dilemma is like well I don't have like should I at least wait for one of my some of my art work to be done so that I can showcase because I wanted to do a road map and everything like or do I just automatically start saying hey the X. R. P. Family collection is coming. Like that's the thing I'm like man like I don't know when when is the time I'm just building it behind the scenes and then waiting to to have a lot of content to make right where I was like alright I'm already on step seven now start documenting from what I did on step one and then by the time step seven probably on step 25. So I have more content to make.

That's how my brain is. Like trying to figure out what I just do. Step one of my

biggest thing is like what I like to see in the video, especially an explanatory video is like you know something where it's like they give you the overview like this is these are the steps and then we go like okay so that way you can kind of go through each one step by step but they already know what like how that fits into the larger scope and that that's how I think you can get an overview of how you gonna how are you going to do it? And then you kind of do it because then it's like I don't know what the next step is going to be or how many steps they're going to be. So if I know that this is like okay this is a three part series or a five part series, I know I'm not like oh shoot episode 179. I don't know if that's gonna fly for me, you know?

Yeah. But yeah, thank you for the tip. Like I'm going to do it now, like you're motivating me to do because I've been keeping under wraps and I've been biting my tongue,

I just

want to let people know it's coming, you know? And I want to have that first he's building, he's

want to show

that first character. And then I want to have obviously like I'm gonna like you I was gonna ask you after the show like hey like I'm building on speculation, do you want one? You know? And I'll send

you, yeah

it'll be your ex RP family, you know, just look just like you and then I

have N. F. T. Is as I progress in the market.

But yeah and you're like my my thing is for you guys, for the people that the extra family and friends, those ones are gonna be super rare, there's only 89 of them, right? So I'll have some like friends um that are in the crypto they'll have some and then I'll have obviously the content creator friends right? The people that I've met through the podcast like you mason and anyone else that's in the X. R. P. Right? Um crypto insight crypto with leo they're all they all have one and it's like in a sense for you guys It's going to have value for you because it's only nine of it and if someone wants to give you $10,000 or go ahead. I don't know right has nothing to do with me. And the

question is are we going to be like looking back five years and be like I. And 100 X. R. P. On pizza. But

the thing about that's cool about something like that. That's cool. A lot of people some people don't like is that they don't have the fees like not the fees but like the residual earnings lycopene, lycopene C. So if you create an empty platform collection on open C. You get 15% or whatever of every sale that's made. So regardless

of royalty,

I sold it as of now doesn't have that yet. So it's basically just the the initial support right now right now. It's all support. So me as a creator I I dropped the collection right? Obviously there's a the way it works is the X. R. P. Collect you're you're basically buying the X. R. P. From the collection.

You buy it with X. R. P. Or you

can buy it with XP or solo.

Yeah

so you can use salt tokens and use Xlp tokens and some people are like I'm not gonna give them an ex RP. But at the end of the day think about like this if that N. F. T. Ends up if you bought that that that the N. F. T. 400 X. R. P. That was the original mint price. The original price.

All of a sudden people are it sells out people are buying in the full price is rising now the cheapest one that you can get a resale value is 17,000 x. r. p. Now it's like well I have 17,000 srp if I sell this and if you sell it you get the 17,000 rpm X. R. P. Wins the lawsuit. X. R. P. Goes up to $17. You know I mean it's just a conundrum of things that can happen or you just hold it you can hold it for 100 srp and you know what I mean?

I don't know it's like that's the fun thing

about do you store you store it on the solo decks or do you put it like you put it on a ledge or like how does that

work? As I think you can put it on a ledger. I'm not sure when that feature is available. I think it should be available now but you basically store it on your wallet. So basically your wallet that you have that's on your phone it will be linked to the website. It'll basically be there. So like if you click on one of these N. F. T. S. Um this no one's bought this yet but you can see the transactions here right? They listed it for 35 X.

R. P. So he created it. No one's bought this one yet right three days ago. So this is a new collection. So if you bought this this will go to your wallet will say that you're the owner. So let's say your prosperity funds will be the owner of it

right?

And it'll be like one copy and then

maybe also help me launch my own collection. Of course you gotta look out for the family you already know.

Yeah it's awesome man. I'm you know I took a deep dive into this and now you got me like I really want to make a video about

do it because my thing that my thinking is always like do it and if it works great and if it doesn't work now you know how to do it better for the next round you know what I mean? Like that's what I think like I think that people are so afraid of failing they never make a move so it's like it's like whether it's asking out someone on a date whether it's you know a job promotion whether it's you know even the exercise or finished anything. People are so afraid of failing or what I've learned is that failure just leads you closer to success, right? So

it's not a loss, it's a lesson.

I like that. It's like the Wayne Gretzky said you miss 100% of the shots you don't take.

You know so

you really I really think of that as as powerful. And for me it's kind of like I'm if you miss the boat on Bitcoin and ethereum even if they go up to astronomical numbers in the future like it's gonna be even more astronomical if you buy something that's cheaper than it blows up. So like that's why I'm just like X. R. P. That next moon shot from the lower end meaning are we starting from the bottom now we're here?

Yeah the lawsuit is one of those things where like it could go horribly wrong for some reason those and we don't know I think they

were hoping that they settled in. But the reality is

I

always thought about this the worst case scenario like worst case scenario let's say it because it declares it a security. Okay so now I own ripples. That so bad.

Yeah they'll just relocated the U. S. And go and go

relocate they still gonna be used like I don't see it as like I mean I don't think it's great but I don't think it's uh, I don't think it's the end of ripple, you know what I mean? If if if they don't win the lawsuit, but I think they're more, if they were really worried that they could lose, you know, they would probably just pay the money. You know, this is all about money, power and leverage. So we'll have to see how it all plays out.

I want to talk to you about this really quick

look

at this. It says Bank of America Ceo, we have hundreds of Blockchain patents, but regulation won't allow us to engage in crypto and we were talking about that. They, the big boys want the regulation, they're in charge of a lot of money. Right?

And we

know the key thing that I've seen in this article right here is the Blockchain patents. We do know that ripple is in Bank of America's patents, right? Have you seen that?

Yeah, I believe I haven't seen in a while, so I don't want to say for sure, but I believe I've seen something like that.

I just recently looked it up the other day and I was like ripples in a bunch of their patents.

They're

essentially utilizing ripples technology.

I think that what's really happening is we'll have to see how the election plays out. I think that's going to be uh particularly interesting and it's interesting because you know, the election will occur before the case acts the hard thing with the cases that like, whenever you're going up against the government as a judge, right? You also have political ambitions, right? There's political ambitions that they want to succeed. So, and I don't know if, you know, but if you go to like, you know, certain federal courts or or certainly the Supreme Court, you have to be approved by the senate, like people with people in the Congress. So like, there is like a little like, what am I gonna get blowback on this or whatever, but from what I'm reading, nobody's really particularly happy with the sec, certainly on the Republican side, but some even on the damp side or are just like, yo this is enough. And um what we're really hoping to see, I mean, I was at the Bitcoin conference in Miami and chat up to Miami man, it was really fun. I met, I met Dave Portnoy, I met a bunch of like celebs. I also met Senator Cynthia. Loomis was part of the Loomis bill. She's partnering up with Senator Kristen Gillibrand of new york, you have a DMB and a Republican coming together to try to make some crypto legislation. So look out for that because they're what they're trying to do is push most of the stuff to the CFTc.

And the reason that was pushing it to the CFTC, the commodities futures trading commission is because they're just more chill with the regulation. And so therefore they will declare most things are not security, they don't have to register and then it's like this and what's interesting is against her basically said recently was the head of the sec. Maybe Bitcoin is not a security. So he's basically unwilling but basically has passively accepted. Bitcoin is not a security. The Justin Benham or I think I think it's Benham Justin and he's the new head of the Cftc and he said that under oath in Congress that Bitcoin and ethereum are not securities. Uh so so and we know that the human speech kind of gave a free class so they're still dealing with that during the X. R. P. Lawsuit. But it looks like very least Bitcoin is kind of safer regulation ethereum maybe, maybe not. We'll have to see an ex RP obviously has the case, the case is happening so we'll have to see how this all plays out.

But like I told you before as much as I am an ex RP if after this Tuesday's conference I think it's going in direction. If something happened to change my mind I would dearest not everything but certainly a large portion and put that into an orbit point of theory on some other stuff but for right now I'm super bullish because I'm all in on X. R. P. And uh yeah I'm just pretty cool I was actually doing some research on the X. Or yeah by the way if you guys are in any crypto project you need to go to the website. All the projects. So if you want to learn more about X. R. P. Go to X R P L dot org and learn like you know there's 100 billion X. R.

P. This is interesting. X. R. P is deflationary but I always had these questions and when I was doing the research it was important to me like we're gonna run out of X. R. P. You know like if it becomes so mass utilized we're gonna run out so it says no need to worry about running out though at the current rate of destruction it would take at least 70,000 years to destroy all the X. R. D. It's R. P prices can be adjusted as the total supply of ex RP changes.

So and by the way I think that also could be related to um No one really talked about that. I did bring it up in a and like a live with john Deaton like a while back on on twitter on crypto crypto twitter I believe twitter spaces but what I have found and I think this is interesting is when it comes to being security, the question is, do you have control over this, right, are you a third party control. And so there's two ways to look at control, right? One way to look at control is who actually make things control on the ledger, right on the system on the crypto system. And so the way it works on X. R. P. Is 80% of the validators decide. Now ripple only has about 6% I believe or less of the actual validators. Even though ripple does a lot of stuff on X. R. P.

In terms of the validators who actually control and vote voting control They don't have a majority. They don't even have more than 10% and you need 80% consensus to make changes on the x. r. p. And so therefore they don't have control. Therefore they're they're kind of like a third party. It's not a non controlling party, an outside party on the XP ledger that was a lot doesn't mean they done it. But other challenges. A lot of people say well they have so much X. R. P. By the way it's an escrow but that's where I think and no one has said this but don't don't think it's so crazy.

I

could potentially see whether it's through a settlement or court case that people might side burn a portion of their X. R. P. So that they have less than the majority of percentage. Because if the basis for how the sec is determining this is what it sounds like. The sec is determining that since ripple owns the majority of X. R. P. Currently. Um That therefore they have control. So they're basing control off of the percentage owned, not based off of the validator. We really know the real control is based off of the validators making real decisions on the X.

R. P. right? If ripple made a decision and then 80% of the validators determined that they didn't want to do what they can shut down ripple. The validators actually can decide on their own burn X. R. P. Did you know that? Like that's crazy if validators decided that they wanted to burn ripples X. R. B. They could decide tomorrow we're voting And ripple would only have a 6% vote And they get like $50 billion could just go up in smoke.

Um if they wanted to. So that that to me is a strong argument by Y. X. R. P. Should not be a security. But if they were to push this whole narrative of you know whoever has the majority percentage is the is controlling it or making the market then it's a simple solution just burned X. R. P. Right? I believe X. L.

M. Did that as a preventative measure. And part of it also I think is related to the fact that ripple is a for profit company. And a lot of if you look a lot of these cryptocurrencies they have foundations which are like independent non for profits as opposed to a for profit. And they're usually found in other countries. So the way a lot of these cryptocurrencies protect themselves. They make themselves a nonprofit and a for profit company. They established their set up shop in a country out of the United States. That way they're less likely to get hit by the sec. That's what this is all about. And because there is a for profit company in the United States they were the first person to get dinged on by the sec. But they've got the power and the money to hopefully put up a good fight.

And I think that the reason X. R. P. And ripple doesn't win which hopefully they'll win but or settle appropriately. I mean the whole market is going to be in turmoil because he's going to go after every all coin. So if you're invested your life savings in an all coin and they're claiming that ripple is a is a security.

You know

you're in for a rude awakening. My guy like that is going to be a very big problem. So even if you don't like X. R. P. Or you hate on X. R. P. Like if that goes down the ship is going down except for Bitcoin and

they

want it, they want it, that's how they get paid right, they get paid, we're paying their salary but the way they make, they justify their salary to Congress is how much money we brought in from settlements and fines.

So

you know that's really that's really what's happening man. And I think Hester pierce who's you know they called crypto. Mom said it best. She said, sec is supposed to be a regulatory agency with an enforcement division, not an enforcement agency. So it's like, what, where is their real role? And I think they've overstepped their role and we're gonna see how it plays out in the elections and and and we'll see what happens. But I believe that the republicans take over, um it's going to be a bad day for gary Gensler coming in and slipping into the Congress and having to face all these senators questions on a daily basis. You know what I mean? Like, you want to do

that.

I'm not one for political, you know, voices, but from an economics perspective and certainly from a comedy perspective, it would be great, it would be a great a great great

to step down, even

though he loves the

power that he has or potentially can get.

And I heard people are just quitting on him, like he has a very bad

uh

approach. Like, he's not giving people time off. Like, if anything, I feel like I'm not saying this may be some sort of internal sabotage, but like, yo if you don't give me my word, pays

off,

wow, You know, I'm not making any claims on that, that would be funny.

But yeah, I I just think that um where we are is just beautiful. I think What's to come is beautiful, what to come is going to change everything. We thought we knew about crypto in the next few years? Um I can't imagine what it's gonna look like in 2025, right? 27? Um with with so 2022 coming in, right? That's that's like the narrative that everyone, that's all I see in my comments. Only by I saw, you know what I'm saying? Like I get it, you know, it's like calderon um the digital pound foundation, right? Which is interesting. I

Still think 25 is right and I still think that 2025, is is an important factor. But a lot of people think that like, Oh this is a compliant crypto. Like don't forget all the other kryptos have until 2025 to get in that same thing. You know, just the early adopters to that system. It doesn't mean that the other crypto can't become 2022. Like for example, the cardinal founder Hodgkinson came out and said well we're going to look into becoming so 222. So I don't think that that means that other kryptos can't become 222. I just think that means these are the early adopters. And so the impression is since these are early adopters it's more likely that these would be chosen as the, as these networks kind of roll

out.

I

was also thinking like that's why does 88 look like Charles Hawkinson does he does he seem some some people think he's crazy right? Because he's like so bullish on his project. Obviously he loves that's his baby right? He wasn't for ethereum launching in 2012 prematurely right. He knew that it's a second ship. It's not gonna be scalable it's gonna have his problems. 88 has not fully been full go yet. Right. Um Some people have said that it is but I don't it's not fully utilized as it should be right And it's been around people been holding 88 for years hasn't been fully utilized. And I see because you look at the problems going on right, luna takes off guys a vax is doing well but you gots Alana trying to take off has VC backing sputters up and down

trash 80

A sitting back like we're still taking our time building out making sure everything is working then when we're ready to go we're ready to go. And I think 88 potentially is going to wait in my opinion for ethereum merger to complete To be able to piggyback off of ethereum and be interoperable with each other. I don't know why I know that there's a bridge being built for ethereum in 88 or if it's already built. That's my opinion. I think 88 intentionally will be one of the ones left standing through a purge on top of x. r. p. I don't know why

it's possible. I mean it's hard because they don't know that

It was at one point but not anymore.

Yeah I don't know of any card. Oh no I don't have anything. I think the guy in charge of it he's actually been sympathetic to the whole ripple thing so he's got kind of my good graces on that. But in terms of in terms of you know you only have like I said earlier you only have a limited mike. There's a lot of people out there who say you just put like $1000 and everything right to put $1000 and everything and one thing is going to hit and you might even if one thing hits and it goes 10 X. If you put it in the Andrew Kryptos you're gonna end up with a lot of losses too. So you have to think about that. And so my position has been stick with a lower smaller amount of crypto smaller number I should say a smaller number of Kryptos with larger volumes

of tokens and

coins. So like for my example I would much rather have a million X. R. P. Or five Bitcoin or 100 ft or something like that as opposed to 1000 X. R. P. 1000. You know big.

You

spread yourself too thin you might not you might hit one thing or two things but if you don't then you lost all your money right? And you don't really make any major games so I kind of have to make the most educated bet um on your top choices. And obviously like that's for me I look for you know is there the fundamentals good or the token ah mix good or the partnership is good? And are there major catalysts that are coming up? And we mentioned in part one of the series podcast here, you know the catalyst catalyst coming off of the theory of mcallister X. R. P. You know maybe there's a catalyst for change link with C. C. I. P. Maybe there's a category, you know you have to find catalysts otherwise why are those gonna go up right?

And another thing with the interoperability tokens is like those are long term solutions right? You're also making a bet. Not only that everything's gonna be interoperable that those networks themselves won't create their own solutions, right? So the question is not is your crypto just put it in the short term but will it be needed and around in the long term without eventually new competition coming in. So don't get me wrong, I still think it was a cool hold. I still think chain link is a good hold but those are not my bear market holds because as you've seen when people get scared in a bear market, they shift their money back into Bitcoin maybe ethereum maybe X. R. P. Like the bigger major the major tokens because those have like the most volume, the most liquidity you have the best chance of selling and getting out right you'll see that you look at the old coins they they're the ones that believe the most Five point drops 50% the old shops 90%. That's just how it goes

at

least at least for now we'll see what happens in the future you know.

Yeah. Yeah I'm like my portfolio when I started was growing in a sense of the amount of tokens different types of tokens I had and I I shifted towards like okay I want to start funneling the money and moving it around to the ones I really really believe in that. I really want to hold on and leaving like a little percentage that's Oh this one went up 30% take profit. They're like you know I mean like the little flip players day training like like buying engine

six selling

It at a dollar 80 right like and moving in and out of it like the ones I'm holding long term X. R. P. S. One L. C. X. Is number two. And then I have um Kwan in Katy a cadena and then alliance block and then from there I have flow which is I love flows the Blockchain. And then yeah I had avalanche had a lot of avalanche I got hacked so I lost all my man was bad. Had a decent amount of avalanche and I lost it all so

I

don't know it's just I I was um going to transfer it to um I was actually gonna transfer to to secure Coinbase wallet and then I need to get a legend. But was transferred to my corn based wallet just cause I want it over there, it was on my men to mask my avalanche and I went and checked my avalanche. I was like why did I have 00? I thought it was a glitch, I just kept refreshing it and I was like alright let me let me just go on and check my snow trace right, which is the transactions of everything, that type of my

wallet. So

I went and I saw in the morning someone transferred all my avalanche who granted like it was like I had a few on corn base already but the amount that was taken wasn't a lot, I was like 13 avalanche of time, that was before everything crashed. I was like I was like 1300 bucks. So at 13 avalanche and I was accumulating it, I was like slowly accumulating my avalanche right into there and I'm like I like avalanche and it's just I just was like wait a minute why is this gone? It just it just was gone, it just was transferred to a different wallet and the guy transferred half of it and it was just gone and I was like oh my God this is like the second time I got hacked the lcs got taken but

I

was just looking like I was just shocked. I was like, alright, well happened again. I literally, there's no reason to have emotion towards it. There's no reason to, to, you know, like stress over it. I made a video on Tiktok like, yeah, be careful. You know, doing this and this. I don't even think I promote. I said, I got, I think, I don't remember but I remember saying, hey, this is how you make sure.

Yeah.

The whole

thing is like a lot of people, I ran into these defi platforms and crazy yells. I tend to shy away from those because I'm not like you need to be dots, like you need to know who the people are. There's accountability of like what's what. And so for me, I like the as much as like, you know, you would say get off of central. Like for me it's either put on a ledger or in a very well trusted, well funded, well insured centralized exchange.

Like, like,

like, like, like a coin based or I mean I don't like coin based personally. Actually I put my money on coin based transfer money in and out.

So

for everything else though, I trade on things like coin bald. I was using neck so vault for me is where I'm keeping everything because or leisure

because

not right now because they, they stopped allowing new customers to come and earn interest. Right? So if you ever move it

off

that that's one thing. And the other part is they give you a cap on next of how much you can earn interest involved. There's no cap,

no

cap but so there's no cap. The reason I like bald better. First of all I spoke to their institutional team, I spoke to the two leaders of all like I was like yo I want to know what's going on before I put massive capital onto your platform or whatever or the ledger I wanted to know what's going on. So and because they're actually a startup based out of Singapore became a crypto lending platform. They their custodian is big old custodian so it's legit and they've been invested in by major corporations including coin based ventures invested involved. Pantera capital invested involved so that that gives me a lot more confidence about it but but they're based in Singapore. A lot of them are based in India but it's a very interesting because you can earn X. R. P. Even if you're new they let you earn on Quant Which is like super cool. I never saw that before. You could I think it's only 1% but I think you could up to 7% and the crazy part for me was um You can borrow it it's the bull market it's going in a bear market it's bad uh but basically they let you borrow up to 66% on the dollar.

So if you have a dollar they let you borrow 66 10,000 box 10 Grand $6,600. That's a lot of money that you could borrow um against crypto to expand your holdings. So my whole theory is like when you're in a bull market you can expand your leverage. Not financial advice but when you're in a bear market close the leverage. So I actually had a lot of leverage during the bull market. And so I had all these old coins and then as we started going bearish Remove 2/3 of my leverage. So I closed out a lot of my all positions. Not that I don't want to hold those but that as soon as the market starts to turn around I'll reopen those positions back up. I don't see a benefit to holding those in the short term without a catalyst short term cattle. Like the things that I have. I like I like H. Bar I like algorithm.

I like Kwan I don't see it without a short term catalyst in a bear market. You see what's happening to the price prices dropping. And so when I that's why I look at the ones that have the most volume because I'll know that there's exit liquidity in a bear market because I look at it like if even if you look at al veranda or X. L. M. Or Kwan. You look at the volume of that versus X. R. P. It's like X. R. P.

Is like moving over a billion dollars a day And then you know maybe Kwan is like 60 day. You know just just understand the volume metric. I think that's that's really critical for for especially for a bear market but certainly be careful if you're playing with leverage. Um I don't use traditional longing and shorting leverage. I just use it as I borrow and pay a low interest rate. So if I let's say I borrow, I don't know let's just say $100,000 right? So let's say you know they let me borrow $100,000 I'll take the 100,000 I'll buy more extra P. With it and then I'll wait right and if it goes up then I can pay back that loan plus the interest. And I think that spread. Whereas if you're in a bear market you have to be careful so you don't get liquidated and their liquidation rate is 110%. So I never got liquidated but because I sold other kryptos back my position so that's why I'm always like into this expand yourself when you're in the market in my leverage strategy and again not financial advice ever do what's right for them but in a bear market I expand with leverage. I'm sorry I contract my leverage In a bull market I expand my leverage because question is which way is the market going up and if you think that Bitcoin is going to drop down 18-22,000 which it is still possible that it could happen if that's the case you want to reduce your leverage you don't get literally liquidated out of all your positions, right?

Um and when you're in a bull market you know if you if you think that you know now Bitcoin hit 36 38 $40,000 and now it's going back to 100 K. Or something. Hey then maybe you open up those leverage positions because now the old coins that you buy will ride the wave. You can make a larger larger multiple. So that's kind of just my strategy on that. So I had let's say three times as much leverage that I did now and I was like basically one third of my original leverage have some leverage but enough to had me so that even if there is volatility in the market it will still protect my my position.

Yeah that's a very very like me my even like I'm the investor like my my my bags I'm holding them right even though they're down and accumulate dollar cost average right? My ex RP I have stored on XO and I have a stack and then I'm waiting to buy. I'm not gonna buy more unless it goes under you know 35 cents, 30 cents that's when I'll buy more and I'm focusing on L. C. X. I'm focusing on quantum focusing on alliance block other projects and I'm buying these tokens right now during this time and that's just me. I have no I don't really have any purpose for Bitcoin. I don't really care to um basically purchase Bitcoin because I feel like that's like wealth, you need to have wealth and big capital to put into Bitcoin. In my opinion. I'd rather purchase ethereum in that in that if I had that logic right there's more bang for my buck in regards I know that you can use Bitcoin as a store of value But whereas I have dabbled in the D5 plate space, I have bought notes, I have staked, I did do you farming? I have done you know I was in time got wrecked on time like I was wonder wonderland so I was in all of that and how how I maneuver through the spaces. I'm just you know focusing on the ones that I think will be here in the long term and hopefully I'm right but X.

R. P. Is something that I'm not gonna hold forever either. Like I'm gonna sell if it's $10 right or all time high, I'm taking a percentage of its $10. I'm taking a percentage of, I'm not gonna you know and then eventually I hope to be able to gain good massive wealth from it and be able to go back into it. But then utilize it as its ecosystem, Be able to buy MTs with it, be able to use a smart, be able to use it right? And

The question is let's say let's fast forward it's 2025. You're now a multimillionaire, right? So what do you do with that money? You pull it all out? You hold a portion right? So my my you have to think of like what is my exit, right? So I think the safest way to play it and I think that U. S. D. C. Is probably gonna be the stable coin that's used or something similar. Um I recently heard a ripple X developer person um say something to the effect that they might put oh yeah the richest man in battle like exactly.

So so for me it's kind of like I my strategy at least temporarily would be if I got if I got massive accumulation Step one Move to Puerto Rico. I'm moving to Florida this summer by the

way,

I'm busy we're moving down to south florida

and

I'm living there. I got a house there in south florida and and and listen if it really hits, I'm not gonna be satisfied with no state income tax, you know. Yeah I moved I moved I moved to Puerto rico with Logan paul, you know what I mean? I got no problems. I'll set up doctors appointments, I'll set you know I'll go to the local schools, I'll do the whole thing, I'll live there for a couple of years, you know, whatever. Um and I'll do everything 100% kosher, you know, legit. Um And uh and so from my perspective is uh is that would be that would be set, but I would probably put it in stable coins, not like Carolina, stable coins, I would put it in. Maybe something like usd see something that is backed by reserves and possibly the ones that are Like the safer ones, the ones that are backed by background and whatever. And I'd probably earn, you know, an 8 to 12% yield on my money while I wait until now compound and you know, while I'm and I'll live off of the proceeds. Yeah, it would be amazing.

Like

if you if you if you have, you made a million dollars in crypto right? And then you put it in and you earn like 12% you can make 100 20 k a year after taxes that gives you like, you know, your livable income and then whatever you make anywhere else is just like, you know, for everything else that you need. So that's that and you can, you can imagine that the larger portfolio gets figure that is if your portfolio becomes $5 million, You're earning a half a million at 10% a year Without doing anything. So it's just crazy to think about like how that works. So if you're a guy, a really healthy person, you put $10 million 10%, you're earning $1 million dollars a year without lifting a finger of that million dollars, you'll have to pay taxes or whatever. But you know, hey, you can, it's still better than putting it in the bank and losing money in the bank, like you're losing money in the bank because even though you're technically increasing the dollar amount by like 0.0, inflation is eight plus percent and therefore the value of that money is decreasing over time. And also the value of money. If you learn when you learn TBM time value of money, which means that money is worth more today than it is in the future. So money now is better. Like if someone told you I could give you, you know, half a million dollars today or a million dollars in like two years, I would probably take the half a million today because I could turn that half a million into a lot more than two million over the course of your

period.

So that's just something to think about when you're, when you're planning ahead. Um Yeah, this was fun. I enjoyed this podcast.

I think a lot of people got a lot of value from this, but we're gonna learn a lot about finance. You guys need to follow prosperity fund on Tiktok on twitter, on youtube. I have everything link in the description in the previous two and I have in this video, but once again, I think we'll leave it at that. This was like a two hour episode, realistic.

It

was awesome though, but

I

learned a lot too. Yeah. Hey, I'm serious. Like I will be reaching out to you in regards to the N. F. T. I will be making content about that too. Um Thank you to you for giving me that extra motivation to do so. But yeah, man, that was great. I think people are gonna take a lot of value to get a lot of value from this and I can't wait to have you back on again sometime soon. But yeah, you guys follow prosperity fund on Tiktok twitter Youtube. Hey brother, I want to thank you for coming on, man, it was awesome.

Let's go, let's go to

the moon, you

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