Bitcoin, DeFi , Yield Farming, and Cryptocurrency Update
Boxmining
almost 5 years ago
The summaries and transcripts on this page are generated with AI technology and may not perfectly represent the content of the video. Please use the information as a guide only.
Executive Summary
Here's a summary of the video, covering the latest in Bitcoin, DeFi, yield farming, and the wider crypto space.
The video dives into the current crypto landscape, highlighting that while the past weekend was calmer than the previous "insanity," there's still a ton of action in the DeFi space, especially around bringing Bitcoin onto the Ethereum network. This trend is driven by highly profitable yield farms like Curve DAO's sBTC pools, which has subsequently boosted projects like Ren and Synthetix. The overall sentiment is that DeFi is finally demonstrating its value, even if it took some enticing new tokens to get people to engage.
Here are the key takeaways and insights from the discussion:
- DeFi and Yield Farming are the Current Hot Zone: The crypto market is heavily focused on Decentralized Finance, with yield farming being a primary driver of activity and innovation. It's a complex, but potentially lucrative, area.
- Bitcoin's Golden Channel: Bitcoin is currently stable, sitting in what's described as a "golden channel" without significant price movements. This stagnation is actually beneficial as it allows altcoins to experience substantial growth.
- The Power of Bitcoin Rallies: Even if altcoins dip during a Bitcoin rally, a strong Bitcoin price is ultimately good for the entire market because it attracts mainstream media attention and brings more new users into the crypto space.
- Technical Analysis (TA) Realities: A high-level fund manager managing $100 million uses only the most basic TA (supports and resistances) and avoids advanced indicators. This is because advanced TA often fails, suggesting that over-reliance on it can be detrimental. Many traders who heavily promote TA courses or exchanges often profit from the trading volume they encourage rather than their trading calls.
- Yield Farming vs. Past Scams (BitConnect): It’s crucial to understand the difference between legitimate yield farming and notorious scams like BitConnect. With BitConnect, you had to buy their volatile coin, exposing you to massive loss. In contrast, yield farming often involves staking stablecoins (like USDT), meaning your principal isn't directly exposed to the volatility of the farm's governance token (unless you're in specific liquidity pools like Balancer or Uniswap, which carry different risks and should be approached with caution). The primary risk in audited yield farming smart contracts is a hack, not the value of your staked asset.
- A Personal Rule for Yield Farming: A key personal strategy is to not speculate on the price of the governance tokens you earn through farming. Instead, simply farm them for free. Buying speculative tokens like YAM, as he did, was a "stupid trading decision" that went against this rule, causing a temporary setback.
- Curve.Finance ($CRV) Launch and Impact: Curve Finance, an "OG" stablecoin swapping platform, recently launched its governance token, CRV. Users providing liquidity to Curve pools now earn both APY and free CRV tokens. The initial launch saw extremely high APY (around 800%) due to low initial supply and high demand. This incentivized massive capital inflow, especially into Curve's Bitcoin pools (sBTC, renBTC), which in turn caused Ren and Synthetix (both involved in bridging Bitcoin to Ethereum) to surge. Over $800 million is now locked in these BTC pools.
- Who's Yield Farming? It's not just retail investors; major Silicon Valley funds are actively participating in yield farming to acquire these governance tokens for free, as it allows them to gain exposure without the "beta risk" of directly buying volatile assets.
- Current Personal Yield Farming: He is currently mining Curve DAO and YFL (by staking Chainlink for YFL tokens, providing exposure to LINK). He was also an early farmer of Cream and is happy to see it gaining widespread attention now. Being early in these farms can be highly advantageous.
- The Genesis of Meme Coins: The current crypto market is characterized by a "giant casino" mentality, especially on Uniswap, where new projects launch rapidly. A common pattern for new coins involves simply picking a meme, choosing a governance/staking/rebase contract, and deploying it. While these "meme coins" (like Yam, ZZZ, huge) can go viral and be fun, they generally lack long-term value and are pure gambling.
- TrustSwap ($SWAP) Innovation: TrustSwap, where he is an advisor, is moving rapidly in the DeFi space. Its recent "TrustSwap Launchpad" for new projects is a significant development, leveraging its core features of timed payments and currency swapping. The airdrop of 2% of new project tokens to SWAP holders (with a 10,000 SWAP requirement) creates a strong incentive for participation.
- The Future of Crypto Payments (Utrust): Crypto payment solutions are critical for mainstream adoption. He finds Utrust's QR code payment interface and buyer protection impressive. He actively uses crypto for payments to demonstrate demand to merchants, advocating for them to accept crypto regardless of whether they hold it or convert it to fiat immediately. The goal is to build an inclusive payment ecosystem.
- Scaling Solutions are Crucial: Ethereum's network is reaching its breaking point, with extremely high gas fees (often 93 Gwei, sometimes 200 Gwei, making simple smart contract interactions cost $40). This highlights the urgent need for scaling solutions. Projects like SKALE Labs and Loopring are working on different approaches to make transactions faster and cheaper, initiating a "competition" for the most adopted scaling method.
- Bitcoin ATMs and Community: A recent ATM robbery in Hong Kong (which involved cash, not Bitcoin) sparked a discussion about the importance of Bitcoin ATMs and the need for a collaborative, rather than tribal, crypto community. Growth benefits everyone, aligning with the vision of leaders like CZ (Binance CEO).
- Cardano's Potential: Cardano has a highly dedicated community, but its future DeFi adoption largely depends on whether it deploys an Ethereum Virtual Machine (EVM)-compatible smart contract environment. This would allow developers to easily port existing Ethereum dApps, similar to what Binance Smart Chain is doing.
- Speed is King for Adoption: The ability to move fast and launch new products/features quickly, like TrustSwap and Binance Smart Chain, is crucial for building and dominating a crypto ecosystem. Once an ecosystem is established, it becomes very hard for new competitors to catch up, even with a technically superior product.
- Why New Tokens Drop (Curve/YAM vs. Grin): The rapid price drops of newly mined tokens like Curve and YAM are often due to their extremely low initial circulating supply compared to their fully diluted market capitalization. As more tokens are mined and enter circulation daily, there's immense selling pressure from early miners who acquire them for free. This is a common pattern seen with projects like Grin during its launch.
- Personal Investment Strategy: He categorizes his investments into three tiers:
- Hodl: Long-term foundational assets like Bitcoin, Ethereum, and VeChain, which he doesn't touch.
- Medium Bags: Coins with proven mechanics that he doesn't mind holding for a long time, looking for momentum.
- Speculative Bags: Super speculative "moonshots" (20-30 coins) for playing the market.
- Don't FOMO: It's important not to succumb to FOMO (Fear Of Missing Out) and try to invest in every new project. It's better to pick a few good plays and be okay with missing out on others.
- Crypto Philosophy: He champions giving people the "tools to fish" rather than just telling them what to buy, acknowledging that everyone needs to find their own strategy. He also highlights the hypocrisy and tribalism sometimes seen in crypto (e.g., maximalists secretly buying altcoins) and encourages a more open-minded approach.
- Politics and Crypto: He believes it's best to filter out political noise and focus on the "meta" (overall impact) on crypto, rather than getting bogged down in details that cause anger. Crypto's politically neutral nature is its most powerful feature, especially when centralized banks freeze accounts due to political tensions.
Transcript
Transcript
Box Mining today is Monday the 17th of August. So this weekend, I'll be honest here, compared to the insanity that happened last week, this weekend felt rather tame. There was just one launch of another decentralized autonomous organization curve, which I made a video of pretty quickly. And there's not too much happening on the kind of the new coin front, but there is a lot of action on the whole DeFi space, not just in general, but especially in relation to bringing Bitcoin onto the Ethereum network. This is mostly because one of the most profitable yield farms right now on CurveDAO is with SBTC. So you need to have some form of BTC on Ethereum. And this is why all of a sudden two projects just popped up. So Ren, Ren suddenly started gaining a lot of popularity because people started using and bridging more Bitcoin onto Ethereum network. And also Symfetix as well. Symfetix just suddenly took off again. And we'll talk a little bit about both. And I feel like right now we're in a point where the volatility of different DeFi coins is slightly increasing, but at the same time, the functionality is also there. I mean, the ability, I mean, the ability to bring Bitcoin onto Ethereum, we've talked about that for ages and it wasn't really popular until now. And this is what makes all of this so interesting is because all of a sudden that kind of value, people are seeing this value, like, oh, DeFi, I see your value now. It did take a few coins to encourage people to use it, but you know, that's the kind of case with everything. But anyways, we'll take a look at everything today. We'll take a look at the mini news as well. We'll take a look at some of the options and the current market conditions. So it's a pretty jam packed episode. A few people were requesting, okay, what coins are going to be launched this week as well. I made a list of that right here. And yes, even I will cover the JustCoin because right now I think it's no longer time to hold any grudges. It's just like, you know, let's just figure out what's happening with the market. So no need to turn a blind eye. That's the mentality for me anyways, going forward, guys. If you guys are just joining the stream, make sure you smash up that like button. Just smash it. Pump it, pump it, pump it up, pump it up, guys. So guys, that really helps this channel grow. And thank you guys all for watching today. Welcome, welcome, welcome. Big shout out to everyone. I'm going to do a mini ad for my... I have a podcast. Let me talk to you about it and then we'll start today's episode. So the podcast, Bitcoin out of the box. I'll start here. Bitcoin out of the box, my podcast. We are starting off with a new season. This... Let me just give me... Let me just give me one second. I need to do my advertisers first. Okay. So Bitcoin out of the box, this is my podcast. And it's really about bridging that gap between privileged institutional investors and pretty much the rest of us in this retail space. And concludes some really awesome interviews. And some of them we saw on this channel, some of them not. So make sure you pay attention because we've got the CZ interview, CEO of Binance. I mean, who's bigger than that, right? We also have Bobby on CoinGecko. They are moving so fast in the DeFi space. Jeff Kirdakis of TrustSwap. Lots to talk about TrustSwap today as well. We got Plutus DeFi. Finally, FUD is removing. So now people can talk about it freely. Right now, we got Elrond, Zcoin. Just so much going on. I'm going to pile on more episodes for the podcast. And the best part about the podcast is you can just listen to it on a go. It's on Apple, iTunes podcast. It's on Spotify. It's pretty much on every one of these platforms. The one I'm showing you is just the aggregator. It can just push everything out. So that's pretty much there. We got a few questions. Well, thank you, A, for... Thank you, E Tambourine. So thank you so much for a $20 donation for Sustagen. Sustagen? Okay. And also we have TisKizzy1. Thank you so much for your donation. Have you heard about ZZZ Finance? Yes, I have heard about ZZZ Finance. The reason why I haven't talked about it too much is because of impermanent loss. So I think both the pools required impermanent loss, which is why I didn't really jump into it. So I have heard about it. I hope it really does well for you guys. And there's a lot going on right there. So let's take a look very quickly. And by the way, big shout out to E Tambourine as well. She's been watching for ages and this is just awesome. And thank you everyone, everyone in this community for having that support. Big shout out. One thing as well, just in terms of housekeeping. So we have a Telegram group that we're pushing out. And I just want to stay with Telegram group join today because what I'm doing is I'm going to do a close off the group towards probably in around 12 hours once this video kind of finishes watching. The reason why is because recently there's a lot of kind of, you know, a lot of aggressive spammy comments that we want to filter out. So we want everyone in this group. I mean, you guys are the best, right? So you guys are amazing. Come in and then we're going to close it off to spammers for maybe around three, four days while we kind of clean house and have some good discussions going on there. So that's my strategy for the channel going out. So just make sure you guys are in the channel before it gets closed off. So anyways, let's go take a quick look at the markets right now. So we have Bitcoin, Ethereum roughly stable. So Ethereum did drop a little bit, but that's because Ethereum's been quite volatile recently. In terms of Bitcoin itself, it's kind of the juggernaut that's not really moving right now. Right now, if you just kind of look at the whole overall, I've got Bitcoin brought up here. I'm going to call this now, this channel, the golden channel, because it's just, Bitcoin just decided to sit there, right? It hasn't really moved out of this channel. It's not really forming any notable features. I mean, it's not getting higher highs or higher lows, roughly around the same. In terms of lows, yeah, roughly around the same as well. It's not really forming too much of a pattern here. And why I'm calling the golden channel is because whilst Bitcoin is staying stagnant, all the alt currency currencies are getting a time to grow, which is where most of this growth is happening over these few weeks. It's because Bitcoin, well, the giant hasn't moved too much. Overall, the whole pattern here is that if Bitcoin moves up, all the alt coins, they kind of bend the knee, they respect Bitcoin a little bit. They'll probably go down a little bit in value. If Bitcoin really rallies, obviously all the alt coins are just going to dump a little bit. But at the same time, when Bitcoin rallies up, it's always good because the rising tide brings up all ships. It is everything. It's the foundation of everything that is built here. So when Bitcoin rallies up, it gets mainstream media attention. More people jump in and everyone, more people enter the space, which is what's kind of important for Bitcoin. So a lot of people are asking me today, you know, do you expect Bitcoin to rally up, push past 12K or maybe come down again? Personally, I feel like it probably will stay in the channel for a longer period of time. And something that I'm very weary of right now is that there are a lot of people who want Bitcoin to go up. So they want to see news that Bitcoin is going up. It's confirmation bias, right? So something that I've found quite important in one of my chats with Sam, so this is Sam from Alameda, is that he manages $100 million of funds, right? So he's a big fan, fund manager. He runs FTX as well. But something I was saying today, so just check out this interview with Sam. He's a guy with crazy hair. Where did it disappear? Huh. Interesting. I'll send you the link, but I don't know why it just kind of seemed like it disappeared from my channel. Oh, this one, this guy with the crazy hair. So Sam manages $100 million, and I asked him directly whether or not he uses technical analysis, and he says absolutely yes and absolutely no. That's a very interesting answer. He uses the bare simplest aspects of technical analysis where he looks at where supports and where resistances are, but anything further, so all those advanced kind of aspects, he definitely doesn't use. And that's a very interesting aspect coming from some guy who runs a million dollars, because he understands that these indicators don't always work. And the issue is, well, if you put so much money on these indicators and trying to make them work, very likely it's going to fail. So what he did, obviously, being a genius that he is, he just started his own exchange, right? So he started FTX, and he's going to benefit all the time by people trading. So I think this is a genius of him here. I mean, he never said that personally. He never said, okay, I started FTX because I want to reduce that trade volatility. But you can judge by his action. Not only is he making FTX, he's making Serum, he just wants to profit from people trading, which is what a lot of traders do right now. They push, you know, either the trading course or a particular exchange and they benefit from traders. So this is something to watch out for in the space where there's just over emphasis on TA, but at the same time, just kind of use it as general guidelines. But it's rather hard to make money doing TA right now, to be fair. So anyways, okay. Um, let's see how I made it. So we had a question here. Big Connect is actually better than YAM and Ample. So recently, there's a lot of people very confused about all this yield farming and stuff. And I just want to say, just to respond to that comment. So Big Connect is one of the most, most notorious scams of 2017. And why people got scammed was they had to buy the Big Connect coin, and then they get the ridiculous yields. But what happens with the coin is that you're exposed a lot to volatility risk. So if the coin suddenly dives down in value, like 90%, 99%, you lose everything. And people lost their houses, people lost their cars because they're over leveraged in Big Connect. And this is something that Yield Connect, I'm sorry, not Yield Connect. So Big Connect is there, but yield farming is a little bit different in the sense that the funds are kept as USDT. So you're never exposed to the underlying currency. And you get, it's pretty much like participating in an airdrop. So that's the kind of difference. But the only difference here, obviously, is that the more you stake or whatnot, the more you earn. So people are exposed to smart contract risk, which is a different type of risk. So this is a risk where if the smart contract gets hacked and funds are bled from the smart contract, hopefully that doesn't happen. But that is a different type of risk. So these smart contracts are audited, but there's no guarantee on that. So I think just to emphasize the difference between yield farming and all that Big Connect BS that was going on is that the exposure, you're not exposed to the underlying asset, unless of course, you go into the balancer pools, in which case you are. So be careful with that. Be very careful. That's not the full story. If you're in balancer pools, or in Uniswap pools. And if you don't know what I'm talking about, don't touch it. Anyways, we got Yam Connect, Yield Connect. You know, magic, right? Anyways, guys, so we are taking a look at what else is happening on the market. Let's continue onwards. No distractions. So this week, in terms of the past 24 hours, yet again, we have REN, that one we're talking about, because all of a sudden, Curve has brought a lot of attention to REN Bridge. We've got OMG Network. We've got WAVES moving up. WAVES is high performance decentralized exchange. All those DEXs coming into play. Zero X protocol as well. We've got base, like attention token, and we've got Yearn Finance moving up. So we have quite a lot of movement, to be fair, for this whole entire few days on altcoins. One of the dangers, though, I look at this as a rough reference of the trend of what's kind of moving up and down. But also, if you just remember, if you look at this, you're kind of subjecting yourself to survivor bias. You know, there's 100 coins on this list, right? So if you're sorted by top, of course, there's one winning. So generally speaking, I take a look at this and just take a look at the overall trend of what's going on and just take that as reference. So just kind of judge, okay, what is the kind of general over trend? What are people feeling? What are people missing out on? And that's kind of the strategy here. So definitely decentralized exchanges. I'll cover very quickly the whole episode of the yield farming with Curve because that will explain a lot of what's going on this week because Curve kind of dictated the pace and motion of a lot of these decentralized finance projects. So more precisely, what exactly is Curve? So I have a full video here on Curve Finance. Curve Finance. It's one of the OG swapping pools. So it facilitated a lot of swaps between, say, stable coins. Even CZ joked about it saying, you know, it was one of those early, early day projects where you can swap between different stable coins, whether it's DAI and swap it to USDC, USDT. And the liquidity there was mostly used. Okay, I forgot to switch it over. So DAI to USDT, USDC, whatever, blah, blah, blah. It allows these swaps to happen. And what happens is that you deposit your funds into the pool to be the counterparty for those trades. So it was just kind of easy like that. Then, of course, there are other pools like Y, which takes the funds that you drop in. So these are still stable coins. And then invests it into other different protocols to get yield to make annual percentage gain. So it's pretty clear. So you can just see on here what your annual percentage APY gain is. But last week, what happened was that they're dropping their own governance token called Curve. So all of a sudden, not only are you getting the APY annual percentage yield on your returns, but you're also getting, I'm going to call these Chuck E. Cheese tokens just because it just makes people happy. And it also riles a lot of people up. But dropping these Curve tokens to people to allow them to participate in the governance of Curve in the future. And these tokens are worth quite a lot. So all of a sudden, you know, Binance started listing it, OKX started listing it, blah, blah, blah. For me, my personal angle of it is that I have not been speculating on the price of Curve. Okay, I feel like that's not what I want. I just want to get them for free. So the way to get them for free is to just use one of these pools. And you can see the annual percentage yield in terms of Curve distribution here. So that was one of the hottest pools for a while. And for the first initial launch of it, obviously, when Curve was like really high in value, the annual percentage gain is very, very high. So it was roughly, I think, around 800%. At that time, it was people were going nuts. The video explains everything. And I tell you guys, look, my personal take, not financial advice, not a financial advisor, my take was like, why not just get these free coins, right? There's no reason not to, I guess. You're subjected to some risk like off the pool itself. But like I said previously, I was in Y pool before all of this, right? So I was in Y pool for farming, Y fee. I was in Y pool even before that, just to get the 30% annual percentage yield early on. So anyway, so it's all about just like putting idle money to work, I guess, in that sense. And that's kind of the whole, yeah, the whole fun aspect of this. Not really fun though, of course, there's still a lot of risks. So just guys, the way I see it is I rather document my journey early than later. So I'll tell you guys what's happening, but I won't definitely, you know, say, you know, promote it or whatnot. I think it's just, like I said, I don't touch the actual coin. And the way I screwed up last week was I actually touched Yam. So I actually bought Yam and that was a, that was a stupid trading decision, not a yield farming mistake because the funds that were used for yield farming, those were absolutely safe. But Yam itself didn't do so well. So I think that's the difference here. I should have followed. And why I was a little bit upset last week was because I was hating myself for not following my own advice and, or not my own rules, not advice, not financial advice, but rules of yield farming, which is don't speculate on the assets. Just farm it. Why not? Okay. Anyways, that's pretty much it. So all of a sudden now, if you just look at it, people are interested in this farming has gone well underway. One thing to notice, obviously, is that all these pools are getting a benefit. So this is a difference from around the Y fee farming phase where only Y pool would get attention. That was why Y fee pool, the Y pool rather had so much money stored in it. So right now it has more than half a billion dollars right now. So that's a lot of money. That's a hell of a lot of money stuck in the Y pool right now. So right now, just a lot of people mining and the more miners there are, the less yield there is just, just because you split it between all the other miners, the same mining rules. But something different about this time is that there is the additional pool of the BTC pool. This is all, all of a sudden people started kind of figuring out, oh, this pool has more yield. How do I bring BTC over onto the Ethereum blockchain? And all of a sudden people are looking at Ren BTC and Synthetix BCC. So this is kind of explains why the market also moved up for those two projects for both Ren and Synthetix. Let me see, Red. So everyone's like, oh, Ren Bridge. Everyone's using Ren Bridge and now, and like people are bridging those assets over. So yeah, so Ren moved up around 36% in the last 24 hours. And Synthetix also got a lot of attention as well. So just because of this whole curve business, I mean, those two pools combined already has more than $800 million. So, and something that I've always said as well is that this isn't just whales playing the game too. The whole yield farming business goes way beyond that. A lot of Silicon Valley funds are into it. If you look at how active Dovey is and Eric from Primitive, you know, it's very clear that Primitive is mining this hardcore. And I think a lot of other funds are doing it too, just because they can get these tokens for free and they see that risk because they're not subjected to the whole beta risk where you can potentially have a coin crash into zero, right? So this is the main difference between yield farming and say BitConnect. It's BitConnect, you have to buy the coin. But for yield farming, your coin stays as either USDT or sometimes a link, et cetera. So just a quick rundown of what I am mining right now. So number one, definitely curve is on what I'm, the curve DAO is what I'm mining. Also on YFL. So this actually got me into link. So you can use link to farm YFL. So yeah, if you want to be subjected to link exposure and you want to farm, yeah, you can go for YFL to farm link, uh, to farm link or link will farm your YFL. And at the same time, cream popped as well. So the whole yield farming thing this weekend, cream just took off like crazy. And if you guys follow my channel, you knew that I was also farming cream around two weeks ago during their YOLO alpha. And that was pretty good. So yet again, it was one of the cases where suddenly attention is being brought onto these projects, um, that yield farmers were very into. So anyways, this is pretty much the current case here and cream is like, it's interesting. So right now, if you actually want to farm cream as well, all you have to do is just deposit money into it. Like it's, it's a compound and just deposit, um, different assets into it. Um, I'll talk about it later. I'll probably make some more information, but all of a sudden, all this is getting a lot of attention. I'm like, I was there like two weeks ago. I'm happy. I'm happy because I was there early. Now everyone is here late. So, um, so if you want to find out, like, um, what I've been saying also is if you want to be early and discuss all of this, the telegram group is definitely where you want to be at. That's where we have all the discussions about what's good, what's not. Um, and the critical aspects of it, uh, we are definitely closing this group off in around six hours for some housekeeping, some, you know, less spam reduction, and then we'll reopen it up in, uh, shorter bursts of time. This way it's better for the entire community, for our community here. I think that's the best way to do it. So anyways, what we'll do right now is we'll do five minutes of Q and a, and then followed by some of the news that happened this weekend as well. So, uh, we got a question for Ashura cryptos is please. Your gamer take on E first for Minecraft. A lot of people were talking about it. I think a lot of people are looking at E first for an alternative to engine, but the problem is engine is so far ahead. So I guess play your own risks. Um, a lot of people love it. A lot of people don't like it. I feel like they replicate too much of what engines trying to do without the infrastructure there. So engine already has the Minecraft plugin already has the wallets to bind to Minecraft and already has the marketplace. So for engine to cop or to not copy, to, um, innovate and to, um, kind of be bigger than E first. If E first has any good ideas and engine wants to just copy it, it's so much easier for engine to copy E first rather it was part, it'll be harder for E first to copy engine if you get what I mean. But anyways, that's my two cents on it. Um, uh, okay. So we got Joe Rodriguez, um, about podcasts. Okay. Weird. Um, people are talking about different coins, you know, everything, Uniswap is moving at least those with purpose. Uniswap has really become the biggest casino. I would say like quite frankly, that's kind of the case with all the decentralized projects. Like it's, it's a giant casino. You're trying to get in projects early because they launch in Uniswap. Now there's a lot of Uniswap whales. So nowadays it's kind of crazy. Um, you know, take it as it is. I think something that I'll talk about right now, and just, this relates to everything was this, um, this was just a joke point posted up early, early around, what was August 15th, so it was like two days ago. So this guy called Jordan, so he posted up this like pretend interface, right? So this isn't real, but this is a pretend interface of like what's happening in crypto right now. You know, first you choose a meme, be it a yam, be it a pineapple, be it, you know, watermelon, be it ZZZ, whatever. Then you choose a governance contract to base it off. So you can base it off like a governance stock contract at compound, or you can do a staking contract like synthetics or wifey, or you can use a rebase contract like ample for for based and then click deploy. And that's kind of how coins are getting launched these days. So this took off by storm, like Jordan plus posted us up and it got like two, 400 retweets, a thousand something odd likes. It's ridiculous. And then all of a sudden, uh, they formed a chat group. They made their own meme coin out of this because they thought it was funny. And then they gave it to the community and bam, listed on Uniswap. And then the meme coin was born. This is ridiculous. And then they added some functionality for people to be part of a chat for meme. And I was like, wow, that's pretty much crypto right now. Everyone's just making these funny memes. And even the meme got made into a meme. Okay. But in all seriousness, the issue of memes, and I think this is the issue of how I always had with these memes is that memes don't generate long-term value. It's very, very hard. Um, they spread like wildfire. So this weekend we saw huge as a meme. So it's like a Trump based meme. Let me see what else there was a meme. There was ZZZ. Um, some, some, some people were talking about that earlier. There's based. So there was a lot of these meme coins and they become very shareable. They become very viral. But the biggest issue of these is that the long-term value of these is pretty sketch at best. Um, a few of these kind of use a rebasing contract. So they tackle directly Apple forth and they have a gameplay element to them, which is interesting, which gives them a little bit more purpose, I guess, in that sense. But at the same time, it is quite a dangerous trend. I say it's like a, it's a trend that can only really, um, signify a lot of people who want to gamble. It's, it's, you know, it's very clear that it's kind of a gambling type of mentality going forward. So, you know, if you know what you're getting into, I think that's fine. Like, you know, I was in tacos. I bought two tacos. Why not? Um, I was just for fun, you know, I guess, you know, you can't go to Vegas right now and you can just buy some tacos and play. But I think you have to be very aware of what you're doing. Like in terms of long-term value, um, not much, it's just pure casino, right? At that point. So just be very, very careful, mindful of this going forward. So anyways, um, got crypto godfathers as meme section. Definitely right now it's definitely meme section time, but I mean, I think you can also take it as a read of the market. People are definitely euphoric, um, which makes me a little bit concerned, obviously, you know, being, you know, someone who sees this is like, it's good that people are having fun, but at the same time, euphoria is something you have to be a little bit careful of and we want to build that long-term value. Um, uh, Michael Lewis says, are we able to enter, enter a t-shirt drawing by posting in this chat? We should, we should, I need to, I need to make that possible. Um, I'm still trying to get like, we have a new box of t-shirts coming. So a giant box of t-shirts this time, and we'll do that. We'll do that. We'll do that. But not today. I need to find a way to do it. I think, I guess spamming is probably a way, um, way to do it. We got street chases, Dia's worth taking a look. We've been looking at a lot of points. In fact, this weekend, I've actually taken a look at seven, eight coins, including Dia, including new coins are launched scale. Um, Owen, just link. Um, it's crazy. It says this weekend has been crazy for research. So I will talk about it. I will go into a deep, a bit deeper about everything. This week was actually a really great week for trust swap as well. Um, you guys probably know that I'm an advisor for trust swap. So full disclosure, but the same time I did buy into the coins, uh, a little bit rather early around six cents ish, but they did a recent huge announcement with launch pad. So, um, the scoters aside, I think what happened with trust swap and why I wanted to even accept the position as an advisor is because of the speed they're moving at. So I think with this current defy trend, you have to move fast. It's all about speed and transparency. And this is something that both, uh, Jeff is very, very good at. So Jeff Kredek is CEO of trust swap. He is super good at moving fast. If you just look at it recently, what happened was just two days ago, they added trust swap launch pad. So they're launching new projects onto trust swap. And it makes a lot of sense, right? So trust swap has two kind of main key features. One is timed payments and any new projects need chime payments, right? That's kind of the whole point of it. And also having the ability to swap different currencies here also helps with trust swap ecosystem, right? So all of a sudden they launched the trust swap launch pad for new projects. First project being chain games. And all of a sudden you can see that kind of people were just freaked out over it. Uh, it's crazy, but obviously I think that the biggest issue here is now picking a, like for at least now I have to say this, it's like all of this just be a little bit cautious. Obviously you have to pick a good entry point here. And that's kind of the only concern I have with this going forward. But in terms of the speed and velocity of the project, holy crap, it's insane. All right. Um, Kydo says trust swap making shit happen. Exactly. That's, that's the speed you want to move at. That's speed. You want new stuff coming in. You want to encourage the community and for trust swap to happen. And some people are commenting on this and why people are freaking out about it now is for the launch pad, they're airdropping 2% of the total supply of new coins to swap holders. And that's a lot of incentive right there. And there is one requirement of the 10,000 trust swap as well for participation into various aspects. So that's, that's kind of the whole insanity of everything here. It's, um, yeah, suddenly there's more and more use case of everything here. So, um, that's being said guys. Um, the next thing that I do want to talk about is with the Hong Kong ATMs being robbed. This is the next one on the list. So this was kind of interesting. Um, so over the weekend, so there were ATMs in Hong Kong and there were, there was this bug in those ATMs. So all of a sudden some people, they found three people. They just directly stole 230,000 Hong Kong dollars. So that's, it's not too much, Ashley. It's around 20, 27 K U S dollars. So it's not, it's not too much, but you know, people would just drew that out in cash and ran away with it. So that was interesting. And my post and comment off this was like, why don't they just take the Bitcoin? You know, why don't they just take the Bitcoin? I guess that there wasn't a flaw for them to take the Bitcoin. They just take the cash, but take the Bitcoin guys. That's a much better thing to take, you know, uh, uh, especially in this level, um, this period of time, Bitcoin guys, Bitcoin. But anyways, um, this eight, these ATMs, um, you know how I'm quite close to the guys at Genesis block, the Bitcoin center, they, they are not related to Genesis block. So I actually went to ask them, you know, yo guys at GB, did you guys get robbed? Is it, is it a flaw in your ATMs? They're like, no, our ATMs don't have this flaw. It has to do with some other guys ATM. And the other guy also isn't very friendly with me. Unfortunately, he told me to take a few of my videos down. Yeah. I don't know. Unfortunate for him. Um, I didn't also appreciate his attempts to take my videos down. So I guess sucks to be you, but I'm sure he made a lot of money these few years. I mean, Bitcoin ATMs are taking off. So I hope the whole community can grow like as one, as one of the biggest shocks I had in Hong Kong where some people are very, very unfriendly and some people are very friendly. And yeah, I hope you can all ask community grow. I think that's the, that's the smartest way to go forward. I think, um, especially in Hong Kong, there are a lot of people, um, who think competition is the most important aspect where I saw this competition with all the ATMs and yes, I was closer to Genesis block and the other guys were like hating on me. I'm like, you know, we all grow together, guys, relax, like, calm down. Like this is important because like with the interview with CZ, you can immediately see his vision is much larger than the 1% or 0.1% of people into crypto right now. He's always thinking, okay, how do I bring even more people? We all win if we bring more people in. And I feel like this is kind of true with crypto where there's sometimes a lot, very, very tribal element to it. And this year I've made a very active effort to not be tribal. So just respect people for who they are, let them grow, our grow, everyone grows together. We all win, right? It's, it's, it's, it's the smartest, um, idea going forward. So that's pretty much it. Now terms of this week, in terms of the hype and the news. So this week scale labs is interesting. So, um, launching today. So scale labs, um, number one, they are getting their, or not scales, SKL scale labs. Um, there we go. Scale. That's probably a way to spell it, but they're launching today. So we'll have to see how it goes. It's all about scaling the network. Something that's quite interesting about scale in terms of tech, right? Is it's operating essentially on the idea of, it's a variant of proof of stake where stakeholders, they can band together in these little bubbles and these bubbles rotate. But what happens inside a bubble is that each can be, each step can be inside their own little bubble. It's kind of like their own shard, but they just kind of rephrased it and just called a different idea. But each, each app dap can be in their own shard and you can create multiple shards to improve scaling. I think that's the easiest way to describe it. And it's used to scale Ethereum. This is why it's on the consensus activate launchpad. But anyways, if you guys are interested in it, check that out. That's happening this week. Someone was also commenting on just link. So, so Justin's son's version of, uh, chain link. Just link is up. Uh, let me just double check the website link for it. Just link. Um, just, they actually did very bad marketing for it. They actually don't rank on Google. That's surprising. Huh. Huh. Huh. Huh. Interesting. Interesting. I had it down here, but anyways, Justin's trying to make his play with decentralized applications as well. I'm not a, as you can clearly see, I wasn't the, one of the biggest fans of Tron, but this year I'm like, you know what? I'm going to bury the hatchet guys, whatever. Um, call it a day. Um, um, um, crypto Morpheus is anyone at HK create a pay with crypto only arcade. I think it's quite easy to do that. Uh, recently I've been looking a lot into a crypto payment solutions and I think it's actually quite easy. It's just the issue. I think with all of this, it's not the tech that's holding people back. It's rather the rent. So if it's only crypto only arcade, you won't have that many people playing. So, which is the kind of issue with mainstream businesses is they want to cater to everyone. So they want, it's like the mentality is that it's so much easier or so much more, um, efficient to allow everyone to come in, let them pay with cash credit, you know, even at American Express, WeChat pay, Alipay. So most merchants in Hong Kong are just accepting as many payment possibilities as possible. And I really do want to see crypto on there. So recently I've been looking a lot on you trust. So you trust as a payment option. I feel like that interface just so nice with just being able to pay directly via scanning a UR code. I mean, I think this, their website describes this very well where just like click buy. And I think I've been using a lot of purchases with crypto recently too. The kind of only issue right now is that Coinbase isn't the best one. And for you trust the advantage that they have is that they have more buyer protection as well. So anyways, that's recently, I think I'm actually kind of interested in all of this. And especially with you trust, I think what they can do is like, there was a lot of, um, I have a video on this soon. So this is kind of a preview for the next video I have where I talk about what I'm holding in the long term. So I did take up a position in you trust, mostly because I feel like payments is the next aspect to tackle, right? We have e-commerce taking off. We also have payments, online payments taking off too. So crypto really needs to be there and just make that audience bigger. And I think that's what we need to do. Um, I've been trying to every way I can pay. I just been trying to pay with crypto, be it with coin payments, be it with Coinbase pay, be it with lightning network. Um, I've been using that all actively and I've been trying to do my part to at least allow merchants to understand, yo guys, we are a significant portion of the population. Please do consider us. And I think there was a lot of toxicity discussing this earlier as well. I mean, I think Tom Vase went on a rant about, oh, you should only pay to merchants that will keep the Bitcoin, you know, not pass through or whatnot. I think the key here is to remember that merchants are real businesses too. They need to be able to have the flexibility. They're not going to speculate on crypto all the time here. We're just emphasizing the point that we are a community. We exist. Please cater for us. And regardless of what you do with a crypto afterwards, at least look after us and, you know, take it one step at a time. That's just my, my, my take on everything here. So, uh, we've got a great comment from Brandon Smith. It's much easier to scam someone to convince them they've been scammed. Wow. That's a, that's a really insightful comment. Um, yeah. So, uh, we got London lobby says, thanks for your video for unclogging MetaMask. That, that video, a lot of people have been watching it. It's a very specific video. So this video came out on, uh, this weekend, mostly because a lot of people were asking me, you know, how do you unclog a MetaMask transaction? And, uh, a lot of people are having this problem that looks like a sneaky face, but a lot of people were having this problem because, um, this exact problem where there's like three or four pending transactions and none of them get sent. So if you ever have this problem where you have a stuck transaction, this video is for you. It is exactly for that situation. It teaches you how to unstuck it from this transaction that really caused a problem. You got to find the root of the problem because a lot of people, what they do is they start sending more and more transactions again and again and again, trying to be faster each time. That's not going to work because of how Ethereum has something called nouns. Um, basically if you don't fix a stuck transaction, new transactions will not go through. So I think a lot of people have screwed themselves up over on this front. So anyways, that video is for you. If you want to understand how to unclog meta mask for that, um, we got JJ says, use the tools of defy, stop speculating and shit tokens. You know what? I think I'm more open-minded these days. I think a lot of people like speculating on tokens. Um, you know, there's no point telling people what to do and what not to do. I realized, you know, that's the best part about crypto, right? Um, everyone has the free choice to decide. I think I know a lot of people who make a lot of money speculating and shit coins just that they're very strategic about it. So it's all about their own strategy and everyone needs to find their own strategy. And I'm not a financial advisor. I can't tell you a strategy, but I found a winning strategy for myself. Um, and I've been giving guys the tools to make your own and build your own strategy. I know this is the hardest way to do it because most people just want to listen to, oh, do this, do this, do this. Here's a step-by-step guide to make money. This will make you rich. Most likely that's going to be a scam, you know, like giving people the tools. I always find, you know, teach a man how to fish, right? Anyways, we got how I made, don't do anything really. Yeah. I'm related just by BDC. I think a lot of people are so misguided on this. So the whole yam thing. Yam didn't make, didn't lose money for a lot of farmers. In fact, a lot of farmers who purely farm yam, they're still doing that today. That's the most ridiculous part. There's a lot of people, uh, I'm still in some of the yam pools too. There's no reason why not to farm yam, right? At this point you're getting free coins. Oh, why not? Right. Especially if these coins mount to something and then you can either sell it, choose a speculator or whatnot. The mistake I made with yam was when I bought the coin, uh, which is like I said, the rule that, my own personal rule that I broke. And this is how I actually had a pretty major setback for like at least four days of my net worth. Right. Um, that was the running joke. I was like, Oh no, we lost money. It's like four days of our net worth. Oh, it's not a big deal. Um, I was pretty sad at the moment, but you know, I'm over it now. But at the end of the day with all this year farming stuff, um, there's two things. I think one is that you have to have, um, a slightly larger amount of money to be profitable because of how much gas costs. So sometimes, yes, I do end up spending. Um, I told you guys this too. I ended up spending overall $3,000 worth of gas over the past three months on three months, three weeks, actually. So $3,000 worth of gas because it was just more efficient for me to send faster transactions. Um, but that's no problem because I'm making way more than that. Right. Um, I was in Y fee very, very early. I was incur very, very early. In fact, I I'm getting the vesting portion of curve. That's ridiculous. I think like at some point, like I'll take just a screenshot of my, like amount of curve I have, like, what is this? Why do I have this much curve? It doesn't make any sense, but that's the case. Right. So anyways, I think a lot of people are like, after watching the video and actually surveying the climate, a lot of people are very misguided about what yield farming is and what everything's happening. Uh, with yield farming, the key here is to not speculate on the coins that you get or not buy them at the very least. Right. Um, and just earn them for free because you get to yield farm. But anyways, I don't know. People are weird and people are so angry. Like, ah, curse you, yield farmers. You know, it just, you deserve this. I'm like, it's okay. It's okay. Keep getting stuck in a little, little, like, I think this is the key point about crypto right now. There are so many people with their heads stuck in the sand. Um, like I've identified, that's not what I want to do. And I don't want to be critical people. All right. I don't want to point names out. I just want to be acknowledging that there is this type of behavior mentality that people like, it's like Bitcoin maximalist, right? Like all the maximalists are coming out and saying, this is a scam. That's a scam, blah, blah, blah. But then secretly, they're also the ones in private groups also buying up shit coins. Like, like, this is what makes crypto so confusing. This is why it confuses the crap out of people, because some people, they have their egos, they have their image reputation, their, uh, to upkeep. So they end up having this split personality. Like some people online, super toxic on Twitter, super toxic on, on telegram, just telling everyone there's a shit, this is bad, whatever. And then they themselves are also doing the exact same thing. It's hilarious. Um, the, the more you're in crypto, the more you realize how hypocritical people are. And it's, it is, but the, but I give them that where it's extremely hard to be honest all the time because strategies can change. And a lot of times it's very hard to engage with the public if your strategy changes, right? All of a sudden the, the, the whole landscape of crypto changed. All of a sudden people, new projects are distributing the coins, volus, yield farming, all of a sudden just happening just like that. And a lot of strategies changed and a lot of people are afraid of admitting that they've changed. And I think that's one of the key problems that's preventing people from going forward at this point is that, but anyways, um, you know, I, for me personally, like I said, I've just, I don't want to hate on people. I'd identify their people and there's no point, there's no point arguing with people about that. It's just like you acknowledge that. And I personally try to adopt this strategy that's opposite of what I deemed wrong, right? That's kind of logical. So like I said, um, you know, just swap, just link is launching, you know, have fun. You guys who like Tron, you guys go for it. Maybe it's not for me. Maybe it is for me, but at least I'm not going to hate on everything anymore. I think that's just kind of a big mentality change going forward. Um, uh, T Johnson says, I'm a shitcoin maximalist and don't be offended too much. Like me on this channel, I'm very much of a, you know, I say the word shitcoin affectionately. There's a lot of innovation in this new space. Some of them will succeed. Some of them will fail. That's just the way it is. Some of, sometimes the ones you think are going to fail, they succeed. Sometimes the ones that you think are going to succeed, they end up being total other scams. That's the beauty of it. Um, that's the craziness of it. And that's the, um, insanity of all this. So anyways, we got Anakin C asks, what are your thoughts on looping? I think they're doing something very cool with the whole situation of being able to not just swap coins, but also provide a network to provide faster, cheaper swaps. Cause that this year we've seen the limits of Ethereum as well. So if you've been following me or at least been using Ethereum network, um, their Ethereum networks reached a breaking point where three, like, you know, it's almost 93 Guay. And to be honest here, like I see 93, I'm, I'm, I'm kind of relieved because for the past few days I've been seeing gas prices of 200, right? So literally if you want to interact with any sort of smart contract, like you want to go and make your DAO and mint your own coin and approve a vault, that's going to cost you like $40. Yeah. It's insane. But anyways, we need these cheaper transactions. We need a way to scale. We need to, um, and I think loop ring is providing some of those solutions for that. And now it's a competition, right? So now it's a competition of saying which type of scaling is going to be the most favorite one out of them all. That's going to be fun. Um, that's coming up this year. So, I mean, like I said, just scale labs running up, up there, there's loop ring. They're also have some sort of scaling solution. They also like, you know, how write in network, but write in, I think it's a little bit weird. I think they don't scale smart contracts. That's the difference here. So you're going to find that and also on-chain scaling coming with Ethereum 2.0. So everyone's going to start to flock over to kind of sort out these solutions. My friends in China are really pushing me and talking about Waikichain. So another chain that offers 3000 transaction per second with on-chain governance. So it's a situation where, you know, there's going to be so much competition here and you just have to acknowledge the fact that there's going to be different solutions and not everyone's going to like the same solution. And that's where market discovery comes into place and that's why it's good. Uh, crypto tribalism and speculators gone viral. Yeah. Life. That's life. Uh, Jay Sia says when Gorgon, Gorgon goes live, a lot of DeFi will switch to ADA. I don't know, man. I don't know, man. Depends on which VM Gorgon is going to go on. I mean, with Cardano, everyone's like Cardano has really become a religion at a certain point where like everyone who loves Cardano really loves Cardano and then people who are like, I don't know, it's weird. Anyways, um, I think, I think if, if they deploy a Ethereum compatible VM, then I think Cardano will get a lot of use case. And it's the same thing with why Binance, uh, for Binance Smart Chain, they're using Ethereum EVM compatible smart contracts. So developers can just copy paste the code over and boom, you're on Binance Smart Chain, right? So that's actually launching towards the end of this month. Technically they're doing the test net right now already. So we'll have to see where people switch. I think this is where speed matters. And I think a lot of people, they don't realize how important speed is in terms of adoption. Um, yeah, like, like I said, trust swap was hyper fast in terms of what they're doing, what they're launching, moving that momentum forward. Binance also too, they're pushing out the smart chain out like as fast as they can. And, uh, speed matters because once that kind of swap happens and the whole ecosystem gets built, then it's very, very hard to topple. So you can think about it in the same way of Apple making, um, iPhones, you know, the iPhone ecosystem is very hard to topple. Same with Google. So now we have the whole Apple versus Google, Google story, but if any new party wants to come on board, if say Ubuntu, Ubuntu said they wanted to make their own phone, they're like, oh no, I got to make support for all this. Even if I have a better product or better code, the whole ecosystem has already been built out. And this is when it gets harder to move. So right now, speed efficiency is pretty much the best right now. Um, all right. So anyways, that's pretty much it. I think in terms of what I want to talk about today, I'll do around five, six minutes of, um, Q and A and we'll see what can go on. Um, speaking of speeds, Iota transactions are less than five minutes with Crystalis. That's five seconds, actually with Crystalis. That's pretty cool. Also, I've been checking out Vita a lot recently. Um, Vita, if you look at it was it's smart contract compatible and it has free transactions as well. So I don't know. It's like, there's so much, if you look, want to look at the blockchain 3.0 stuff, there's actually a lot going on, um, on that front. And I think it's like, there's Vita, there's Algorand for next generation blockchains. Um, yeah, there's a lot. There's a, there's a great space to talk about. There's Iota. I think Iota had a lot of charm with it. That's great. Um, yeah, if it's 10 seconds, I think that's important. Kevin chances. Are there any blockchain based voting systems out there? U.S. postal service file for a patent developing blockchain based voting for elections. Any examples of this around the world? H bar. So blockchain is good and bad. I mean, blockchain is not tamperable. So that's great with voting. So if you want to have a voting system based on blockchain, it cannot be tampered, but the same time data becomes an issue, right? So there was another example with the Russian one. So just to answer that. So there's a, um, the voters data became on sale after the blockchain poll ended. So you can check this up. Apparently I also asked Nick about this. So Nick mile from my channel who is actually from Russia. And he said, uh, this is also kind of a too much on a FUD front. Uh, so it's like, it's also bad reporting as well, but they did try to attempt to do a system. And the kind of issue with blockchain based voting is yes, it's tamper proof, but the same time, everything is transparent. Our ability to do private blockchains is still kind of it's in its infancy. So if you want to keep the data private, that's also very hard. I mean, if you want to think about it, vote, voting intimidation is quite real. So if people start finding out who is voting for what or who is voting with whom, and you can track them on a blockchain, that's kind of scary. So just be careful about that too. I think, um, that's why I wasn't too into all this voting on blockchain. It's like, it's probably not the most efficient way to do it, but anyways, whatever. Um, SD says, are you participating in scale? So I have actually filled out the documents today. So you needed to fill up quite a few documents. I don't think, I'm not sure if I can get it in by the end of the day. So it's one of those situations where I saw it, but I didn't realize it was this week. It was one of the bad time management things. I knew scale was doing something, but I didn't realize it was today. So I still have to do, um, the KYC for it. And it's being flagged for manual review. So not sure if that's in the past or not, but there's also a requirement for proof of income, which I guess we can do. But anyways, I'll tell you how it goes tonight. If the kind of logistics is there, I haven't actually looked too much into the dumplementals of scale as well. It's yet again, one of those situations where there's so many projects happening right now. And my policy is like, need, don't need like FOMO is your worst enemy here. Um, FOMO will make you make a bad decision because there's so little time to do something. Um, over the past few, three weeks, I've actually invested in around six or seven projects. Um, I think those are, that's a good number for me. Like, um, I don't need to get into every single one. I mean, there's a project pretty much every day now being launched. I don't need every single one. I just need to pick out the good ones. And if I miss out on one, you know, that's okay. And I think that's the current mentality I have. There's just no need to get every single one. You know, you just want to have, you just have to play one or two good plays. So yes, I'm looking into it, but whether or not I get it, probably, probably not tending on a side of not because, um, the KYC probably will take longer than a day. Maybe we'll see. Um, there's, uh, after these Mendez is if blockchain has zero fees, what prevents spam? So there's two methods to do it. So Iota does the method where you have to verify two transactions behind you. So that's kind of like fee. So you pay in terms of verification, right? I think that's kind of smart. So it makes sure that there's always some form of computational payment for it. The other way that V does this is also the same thing. So they have a proof of work, a very fast proof of work, um, to make sure that the transaction that you made, um, you committed some form of energy cost to it. It's not a financial cost. It's very fast. So it's like a, on a phone, it's around two seconds. And on the PC is like near instant. You don't feel it, or you can get around this by staking. So if you stake and you get a quota each day, so that's kind of how they deal with it. Um, so there's definitely ways to do it. And it just depends on how you, so, so that's a computational cost. And also they have a preening mechanism. So I guess at a certain point, if there's just too much of a buildup of transactional trash, you just need to kind of preen the blockchain. So to reduce the space, otherwise you'd be a giant space monster, right? So there's that method. And then obviously in the future with things going forward like this, there's probably a sharded mechanism too, where, um, each shard just needs to keep the data for that shard to make transactions faster. So you can just save up space that way. But anyways, that's pretty much there. Um, Project R says, what's your thoughts on Velo? So recently I did an interview. Um, some of our friends heavily recommended Velo because they're doing remittance, uh, which is a real world application for crypto. So right now in terms of Velo, they have a huge backer behind it, which is the CP group. So they own pretty much all the ATMs in Thailand, which is ridiculous, right? So if you think about that, that's crazy. And then you have a purposeful use case and then a huge company behind it. Now, in terms of purchasing, I haven't actually been able to purchase any Velo. At the same time, there are also some risks involved. I think the biggest one is with royal family. So something that I'll probably have to wonder, ask them next time is kind of what the politics are within Thailand and where the kind of current Thai royal family is sitting in terms of blockchain adoption. This really goes for the whole of Southeast Asia and for China as well. The implication of blockchain is immense, but at the same time, now it's all about politics and this is where it gets a little bit muddled for everything. Um, Eric Kim says, is the Curve token another YAM? Why is it dropping like crazy? I think that's a very, very good question. So if you look at Curve, you have to remember with all mined currencies that the initial supply is very low, extremely, extremely low. So just think about it. If it's been mined for an hour, all right, then the next hour will double the supply. And in the next 12 hours, it will 12x the supply of a particular coin. That's how mining works, right? So because there was no initial supply, the initial supply of all these tokens are extremely choked. So this is where the insane volatility can come through. So even at this current point, so even at this current point at this right now, the fully diluted market cap, wait, am I even seeing this number? Right? So yeah. So right now we have a market cap of $40 million, right? That kind of makes sense. But at the same time, new tokens are entering every single day, right? More and more people are mining and more people, miners are dumping this directly on the market. And if you look at fully diluted, this is where people need to look at fully diluted valuation. How much is this? This is $16 billion of fully diluted market cap. So if this means that if once all the coins are mined or close to being mined, that, I mean, 16, that's $16.9 billion market valuation. So do you think it can maintain this diluted cap? Hard, hard, hard, hard, hard. And this is why early on miners just dump, you know, during the speculation phase, miners dump. And if you want to look at a few models of this happening, look at Grin. Because Grin did their launches well. And I had some of the biggest arguments during the launch of Grin where people were like hyping up, Grin is the best, blah, blah, blah. It is the best. But at the same time, when during the launch phase, right, when Grin first launched, the supply was immensely choked. So that's why it was like at $10, like $10, $4. It spiked up to $10, because there was a lot of hype. But at the same time, there was extremely choked supply. So I think this is one of the biggest risks to any newly mined coin is because they don't have the buffer room. A lot of times, if an ICO launches, they'll just dump like 15%, 20%, sometimes even 60% on the market. So the circulating supply won't grow massively. Here with the case of Curve, it will just grow massively. Like every day, there's going to be new coins coming out. And can the supply be bought up? That becomes the biggest problem. So I hope that answers your question right there. It's just, it's all about supply and demand. Lots of new supply coming in relative to the current circulating supply for new tokens like Curve or for YAM. So a lot of people got burnt speculating on these coins. But you know, like I said here, I'm mining it. So regardless of what, even if Curve drops to like 0.001, I'm not going to lose a single dollar in this case, right? Because I'm getting these coins for free because I'm mining it. Oh, okay. I subject myself to risk, right? So there are some risks in terms of smart contract risk. But so far, none of these contracts have been breached. All right. We got Lemieux says, Epic Cash is a better alternative to Grin. I would say it's hard stretch. I mean, it's an alternative and probably one of the best alternatives to Grin, but also Grin is Grin because Grin created it. So they have a lot of clout there in terms of being the ones who actually wrote the code and they can have the advantage of being able to kind of be the first mover and also being able to maintain their own code better, right? Kind of that theory behind it. It's like that. But I do actually mine active Epic Cash. I think it was really fun for a while. All right. So I think I'm going to end the questions and Q&A to there. I'm going to push really hard for the group, Telegram group. So guys, go in today. I'm going to close that off in 12 hours. Just admin work became really high. So we're going to close that off. So we just kind of prevent spammers and those new spammers can get in. So for now, we're going to kind of maybe make it like a semi-closed group for a while. I know that's like a big decision, but I feel like it's probably the best for this entire community to get actual good knowledge in that group. So it'll be pretty good. So like I said, Angel, just rewind a little bit. There's a, there's a trust swap segment I did during this episode. And also the next video I have is also about trust swap. So make sure you're subscribed, notified, et cetera, blah, blah, blah. We have, we have a perfect question coming from Enki DuPont says, please, what six projects have you invested in? And this is one of the biggest questions. And I've actually made a video about that yesterday. So one of my next videos that's coming out talks about six of my recent larger investments. So what I'm going to call my medium bags, where this is the kind of the, the found, um, the foundation layer I've always had is my hodl, which is Bitcoin, Ethereum, V chain. And it just sits there and a little bit of other coins. I feel like as the longest term, you know, hodl potential, I sit, I sit it there. I don't touch it. That's it. But I have this middle layer where I have coins that I'm looking out for that I don't mind hodling for a long period of time because they have some proof. They have more proven mechanics that kind of work, not proven. It's not proven the pump. Okay. So it does don't get me around there. It's not proven a pump. Nothing's proven a pump, but at the same time, there are various elements that I'm looking for in those particular coins that are going to have that element where it could kind of gain more momentum. So that's kind of my medium bags there. And then I have my speculative bags, which are like super speculative, like 20, 30 coins in there, whatever. Just, just try to play around with it, see how the market goes. So that's kind of the, the three tiers I have. And so I'm going to talk a video about my medium tier, and now I'll do some videos about the top tier as well, which is like your moonshots. Your, oh my God, it's going to pop coins and that's going to be tons of fun. So anyways, um, yeah, that's pretty much the, the, the, uh, the case. Uh, uh, make sure you guys, um, click the subscribe button. So something about the t-shirts as well. So all right, t-shirts are coming. So what I'll do, I think, uh, I'll make this very clear. So we'll do a draw for t-shirts and the way to draw works for t-shirts is that when new videos get launched, type hashtag new notification squad within the first 12 hours and you have a chance to win. So we'll do the draw, one of the draws for last week's videos today. And then what we'll do is for the live videos within the, we'll do a draw within the first, like five minutes off, actually first 10 minutes off the live video. We'll do that. So anyone coming in first 10 minutes, you know, we'll draw someone from there. And then I think I'll get Angela to help me draw and then we'll, we'll do it that way. So for live videos, they'll be for the live audience. And then for videos that get released, they'll be for people who view it. So anyways, with the t-shirts, let me do a quick, um, quick view. So we did one, two, three, four, five, six videos last week. So I'll just do a random number between one to six, random number five, two, six. So number five. Okay. So one, two, three, four, five. So CZ interview is the one that, uh, we'll pick the comments from. So, uh, pick YouTube comment. So this will be notification squad for, um, filter to, okay. Get that one. Notification squad. You guys are winners. Winner, winner, chicken dinners. All right. Let's see if this one is, I think we'll see. With these live videos, it's harder to do notification squad, but we'll see winner tabernacle. Funds are safe. So we have to have notification squad. That's the rules. Uh, nope. Maybe I'll have a filter based on comments. All right. Get YouTube comments. Let's see if there's any unique comments on that. Oh, there's only five people for that. Boom. That's a pretty good chance actually. All right. So we have Jose, Jose, you get it. So Jose, I think you've been in a lot of these videos. Congratulations on getting, being part of notification squad. So yeah, Jose, I'm really glad you went. Please do message me, contact the box mining.com. I'm really glad that you have a chance to win here and yeah, uh, we'll send those t-shirts out. They will take two months to arrive though. Unfortunately we, we, we started sending the shipment last week and we're like, oh my God, because of coronavirus, it's going to take ages, but late's better than nothing guys. Late's better than nothing. So we'll do that for all this. Um, uh, we have Bitcoin, blues brothers, BBB, five, three, three, 553 in here. Smash that like, please do smash that like for now. Let's do it guys. We're going to also put up the, um, let's see, let's put up the next stream as well. Uh, let's, uh, let's go, go live. Let's put up the next stream. Schedule the screen. Uh, let's see. DeFi. All right. Bitcoin, you'll find me. We'll do it next Friday. So with all these streams up, we have streams on Monday and Friday. So we'll, I'll schedule the one for Monday, Friday, but do keep an eye out for midweek stream. I think this week might be very exciting. I have a feeling, I have a feeling it's going to be exciting this week. So we'll probably do a midweek stream as well. This amp up that video production this week. We have a quite a few videos lined up, um, but a few good ideas too. So it's going to be really fun. So I'm going to schedule the one for next week. So make sure you guys click the, I'm going to share it. I get shareable link. So I'll share the link with you guys here and then, um, we'll get the stuff rolling. Get everything rolling. All right. So that's the link for the next one. So if you click on the link, you will be able, uh, to see when the stream is and then not, you don't want the studio link. You want this link here. Why does the link studio? Huh? It's a bad link. Let me make sure I put the proper link up here. Give me one second guys. YouTube is always so I need to like, I need to get my YouTube link improved. All right. So let's do that. So this is the one to click. So make sure you just click that, put that in a like, click a like whilst you can, whilst you're at it. And then we're good to roll for our next episode. So that's pretty much it for me today. I think it was a really, really fun episode. I really enjoyed chatting to you guys. Super, super fun. And I hope I answered a lot of your questions going forward. And if you guys got a stuck transaction, make sure you check out that latest video there to help you unstuck your transaction. I think this is like, it's happening. It's, uh, as crypto is getting like, especially theorems getting so much usage is might as well get it. So that's the topic. And then we've got QWF, QWF, what will happen to crypto prices in November, US elections? You know why I'm kind of really excited for crypto right now as well as I think it's like, unfortunately, this whole political tension between China and Hong Kong is, um, it's causing a lot of people becoming uneasy. And the elements, the most powerful part about crypto is that it's politically neutral. There is no bank of crypto. There is no founder of crypto. Like, okay, there is a founder Satoshi, but we don't even know who he is, right? He can't come out and say, yo, your bank account's frozen. Ha ha ha, jokes on you. I mean, recently, if you guys saw that with the whole US versus China issue where 17 bank accounts of Hong Kong people were frozen or Chinese Hong Kong slash Chinese people frozen. And then also China did the reverse. They froze the bank accounts of 11 people in the US. This is kind of one of the biggest weaknesses of centralized finance with the big banks, where accounts can just get frozen just like that. Oh, sorry, politics. Oh yeah, your bank accounts are frozen. Have a nice life. To a point where, uh, the chief executive of Hong Kong's son, he was studying in Harvard and he just had to flee the country, right? Like the political tensions are boiling. He just had to flee. It's not even just about his money. It's about his life now at this current point, right? So this is what's happening in politics. It's a big mess. I've said two things about politics. One is that I just kind of turned off all politics. Um, unless the key headlines, um, the smaller headlines, I just don't care anymore, mostly because it's so easy to get angry during part with politics. And there's so much happening in crypto that it's just not worth the time, right? Um, this is the efficiency. You want to know what the meta is going on. You want to know what's going to affect you, but you don't want to get tied down, boggled on, on, in all the details. If you're spending three, four hours on politics, which some of my friends are, I'm like, I feel sorry for you because you're wasting that three, four hours. You could be like farming crypto by now. Um, number two. So yeah, number two is just watch out for the meta. You want to know roughly what's going to happen. It's not, it's not going very well politics. It's like, it's a situation where things are really crappy, but, um, you know, kind of the only way to keep positive is to really just like, you know, play your part when you can. And then when you can't really have any input, when the inputs don't affect you, there's no point in just staring at a TV all day and just like waving your hands. Like, oh my God, it's like on TV is wrong. Blah, blah, blah. Like politics doesn't help. Um, decentralization does. So anyways, that's my take on it. Yeah. Crypto trader, um, crypto trader says, feed it as a political money. Don't like it. No, no, no, no, no, no, no, no, no, no, no, no, no. Exactly. So anyways, guys, thank you guys so much for watching today's video. Um, I'm not sure if you share my views, but those are my current views on politics going forward. Just get the big meta and then just do my crypto stuff. Anyways, thanks. Thank you guys so much for watching today. It's been a great episode. See you guys.