I wanted to talk originally. I was going to make a video like kind of a reaction, video to an interview that I saw of. Let me see if I can pronounce his name right: Chumash Polly, huh, yeah Wow. That was embarrassing. He did an interview with Laura shin, who is a great interviewer by the way, and she has a podcast Unchained podcast definitely check it out for those of you who are looking for more sources of Bitcoin discussions, but so I was gon na. Do a reaction video to this interview because there's a few things that that I I had some thoughts on. But instead I decided to go ahead and because it would be more of like a discussion type of video to go ahead and go live and be a bit more interactive with you guys so hi and welcome. I apparently Andreas Antonopoulos is also having a livestream event around this time, so for you guys who are here great, I have a new addition to these live streams and we'll also have these. On Monday, when Toby and I go live, we have the super chat enabled so for those of you who want to you know, do what you can to support this channel or make sure that your comments get addressed and seen or whatever you just want to get Some attention in the live chat. You can go ahead and check out the super chat, option and we'll see what happens there.
So hi everyone, hey John, hey ad good day, hey Gail good, to see you from Canada, traders n Richard, oh good, to see you guys here in a regular, live stream. I hope that you guys enjoyed that most recent class that I had on Thursday. Normally I try to do those Wednesday's photos on Thursday, all about hardware wallet options, and it seems that those are advancing so it's good to see that kind of stuff happening. So, okay, if you couldn't there's a little bit of a hint of the essence of this video in the thumbnail with that meme that hilarious meme of the guy with the gold shirt saying I'm in it for the technology. Clearly, everyone here is in it for the technology. You know chim math isn't it for the technology sarcastically. If you watch that interview, I oh I hear here. Let me put a link to it in the video description. I can't believe I didn't do that. Yet I'll go ahead and get that going right here. So for those of you who didn't see the interview – and you want to check it out, it will be in the video description shortly um here. Let me just get that going one second, okay, mmm so should be in there now, if you guys, hit refresh hey Sergio, hey exciting world crypto it's good, to see you here, always always in the comments: Hey, okay, well, good morning, Scott okay! So how my views have changed on crypto I've been in this face generally for the past, what six plus years, six and a half seven six around six and a half seven years or whatever, but definitely more intensely.
I especially you know having this YouTube channel the past going on four years in November. It took me a long time number one to get familiar with a space and number two to get the confidence. I was still for sure building my self confidence as I started this channel, but to think that I would even have anything to contribute to the cryptocurrency conversation, and you know, as time goes on, you get more experience, more knowledge, more opinions and more perspectives, and so That'S, where we are today and I wanted to go over just you know what I've seen change and as might have my views on the cryptocurrency space changed along with it. So yes, and the short answer for the good and for the bad there's redeeming qualities – and there is a little bit of a disheartening thing that we're seeing growing what I wanted. I mentioned that Hamas interview because he's, like I, you know well known investor, a lot of people like to take his advice on you know what he's investing in and he's been a pretty vocal person trying to represent. I guess maybe not he's not trying to represent the cryptocurrency space, but he seems to have aligned himself, hey John, thank you so much you're crazy. Thank you so much for that. That'S amazing really appreciate that John you're, amazing. Okay. So today, it's all a throw me off guard, but so he's, not necessarily trying to be like a representative of cryptocurrency, but I he seems to have some kind of you know opinions on the Federal Reserve on fiat currencies, and you know those are those effects that Are played out for the citizens that have to use those currencies so that's cool.
You know he can see the value in cryptocurrency in that and the fact that him and like people like Anthony pomp Leon, Oh pump, like they're, always on the mainstream media news. Talking about Bitcoin as an investment as an investment, so that's, the thing is: are you in it for the tech or are you in it for the money there's pros for both and there's cons for one, I guess philosophically so as as I've, you know kind of, I think anyone who entered this space was initially in it to make some money because they heard you know it's a as it's a growing asset class as it's a growing market and more investors come into it. You will benefit from being an early adopter from getting in early taking in a position early and that's. I think a lot of you people here in this curtain. This live chat. I have done so as well, and so it kind of inspires you to want to keep it going, but there's there's, a pro for you know, earning an income or for seeing an appreciating asset. Obviously, a lot of people who are stuck in the nine to five jobs who've never really had a savings account. I was certainly in that latter group certainly going paycheck to paycheck, really small paychecks, and it can be quite a liberating thing to find yourself having the means to change your life in a better way and to pursue it.
Maybe a more healthy lifestyle, whether it be mentally, like you're, not having as much stress or physically, like you can afford more healthy options that their diet with your lifestyle. What have you, but that is so superficial for what this crypto currencies really can provide it I'm. Not discounting the benefits, obviously, of earning an income, or you know establishing some kind of a nest egg for yourself or for your family for future generations, and at this point that is where we are, and we know that because again people like chim math and people Like Anthony Ponciano are like the representatives of cryptocurrency for the masses and they're, not really chim math, maybe is touching on it a little bit and I I was like much more of a fan of his than before. I saw this interview if you want to check out this interview that he did with Lauren it's down below in the video description, but he was pretty much saying, like you know, as an investment strategy, I go for the top dog like he's, comparing things like wayfarer And other kind of Internet merchants merchants why don't just go for Amazon, don't kind of waste, your time with the little guys and he's, comparing that to the cryptocurrency space with obviously him seeing Bitcoin as the big dog as someone that is, will be the obvious winner. There is some truth to that. That is something that I also tend to you know, encourage is for people to first establish a position in Bitcoin and learn about it and understand it and then from there branch out into other crypto currencies, because the fact of the matter is bitcoin is the first One, it is the most recognizable one, it is the most adopted cryptocurrency and it has a relatively strong network effect because of this not to say that other cryptocurrencies don't also have redeeming factors, but you can't argue with Bitcoin being a solid investment even now, and but For him he was saying pretty much like don't don't bother with any other crypto currencies but that's.
What really irked me is because he was just looking at it as an investment strategy. As you know, one day you're going to be using these crypto currencies and bitcoin is great, but it it is wasn't designed to have. You know the kinds of functionalities that other crypto currencies were able to build because they had the foundation of Bitcoin and they've learned from it. They'Ve expanded on it into like a lot of innovative ideas like smart contracts like privacy features Manero aetherium. What have you and to kind of discount that is different, then comparing wayfarer and amazon, because you know, coins like Manero or coins that are really decent privacy coins are really providing a solution for an issue that does exist and that is fungibility in this cryptocurrency space. It'S something I've spoken on plenty of times before and I've certainly emphasized it. As being you know, an important attribute that any successful cryptocurrency, I believe, will need to have going into the future as crypto currencies gain more exposure become even more of a threat to things like governments or centralized entities who want to know what you're doing with your Money free not necessarily for your benefit, but just so they can know exactly what you're doing with it. Hey make sure I can okay, hello, hello, you were going crazy. Okay, I just just chill on the shilling in the in the comments. I'D be great guys anyway. Um, let me just make sure it let's go over.
I wrote a few notes for today, but so it's. The fact that again, these kind of people are the ones that are getting exposure on mainstream media. It'S great, that you know they're talking about crypto currencies, but again it is just purely surface level, and it also speaks to the fact that they're not really talking about how disruptive this technology is for fiat currencies for you, know border completely, bordered in currencies that are Tied to their country – and that is because these mainstream media sources – their owners – have a very specific special interest in not emphasizing that part of the crypto currencies and I think that's, why you know they're they're always been portrayed as being super volatile, which is true it's. A new market and as such, being such a small market, that is what is going to happen until it grows and grows and grows, and then it'll be less likely for any one whale to swing. The price, however they like. But what? What? If like? It'S a shame that the cypherpunks don't have a louder voice on the mainstream media and obviously there's a reason why they don't it's, because no one wants the again. Those owners are the media sites, the news sites they don't want that voice out. They don't want people to know. You know the real reason why these crypto currencies were created and it's a shame, because at some point I mean we're, seeing a lot of drama happening with the youth government.
Lockdowns with the shutdown of global trade, global travel and it's gon na be affecting a lot of different currencies and we're. Seeing you know a lot of different countries, they've been speculating about creating their own. You know central bank cryptocurrency, I, whether that it's, not a crypto currency but anyway it everything that's been happening recently, has certainly been turning on the heat for this and at some point people will be very happy that crypto currencies exist, but unfortunately it won't be because Of on Anthony Ponciano or to math, they won't be learning from those guys. You know the the real benefits the real usability of crypto currencies. Can you just? I just want a daydream for a second we're, like everyone understands the importance of a southern currency where its supply is hard coded, and you know how nice that would be to depoliticize. Money is just separate from the government that that's just that's nice little moment. We'Re gon na have that here, but yeah it's, it's really interesting. I Toby and I talk about it. A lot and we're, probably gon na touch on it in the Monday's livestream as well, but it's like this perspective of there's, a lot of crazy things happening a lot of unfortunate decisions being made and the repercussions of those decisions will be playing out for months to Come it's unfortunate, but if there could ever be a silver lining, it will be that hopefully more and more people will be waking up to exactly how vulnerable they are to the decisions that are being made by their governments without taking their opinions or votes into consideration.
Lemons holding a vote for any of this stuff I mean talk about I mean blockchain technology can probably help with the voting situation as well. If you're someone who believes in you know the weight of your vote actually means something if you're in the u.s.. You know the Electoral College kind of cancels that all out, but if there could ever be a silver lining to this, it would be that people will wake up to this and actually see the decisions that are being made and it's not in their best interest. It'S not trying to facilitate their freedom to choose, it is a lockdown forcibly is um. I mean it's, not exactly martial law, but it's very close, and you know whether or not we're getting warmed up to that idea is. Is you know who knows I'm in Portugal right now? So it's certainly not like that here, much more laid back, especially specifically where I am in Portugal, but yeah. So people are gon na, be waking up and I don't know. Hopefully, you know they're going to be demanding better from the representatives better from their news stations and the best way that you can fact change in your life is by what you're paying attention to and what you're you know, spending money on. How are you, how are you allocating your funds that will support or de monetize things that you do or don't believe in and yeah? I think I think, it's a good reminder for everyone, that you know artists it our decisions matter and how how you live.
Your life matters so let's see oh, oh and then yeah pretty much. I feel like it's, always kind of been like this, but it's it's becoming especially more so. I think there's going to be like two camps in this cryptocurrency space. There'S going to be like the main streamers that are gon na, go through all the KYC they're gon na be tracking all their crypto currencies reporting them to. You know whoever asks, because why wouldn't you, you know only interacting with excuse me, centralized platforms like centralized exchanges or just like you know not not pursuing the privacy featured part of cryptocurrencies and there's, going to be like the black market of crypto currencies. The people who are pursuing the privacy using VPNs using decentralized exchanges using their own wallets, taking full control over their crypto currencies and because you know the world of the internet and the world of crypto currencies, has really helped provide that tool for people to have a Full as full of an interaction globally online with the use of crypto currencies that you know just didn't exist before you can't you can't email, cash, anyone so that's kind of cool. But let me see yeah I mean that's. Those are how my views have changed. Really. Is just the realization that the reality unfortunately is and I've kind of had this knowing it was coming like the mainstream adoption of crypto currencies will come with the watering down of everything, beautiful crypto currencies, it's quite unfortunate, because most people either, you know they don't value.
It they're in a luxurious life where you know they don't need to worry about that it's, not even on their radar or they're, just completely asleep and yeah. So I actually, I went to this conference in Malta, my first and only beside the steam fest it's. My only like crypto currency conference, it wasn't, even really that it was like a blockchain – was the worst so everyone's in suit and ties and everyone's talking about central bank crypto currencies and regulations and centralization. It was disheartening, but I actually asked Anthony pollyana. He called in for the conference to take questions, and so I flagged down the mic, and I asked a question at the very end and I asked him pretty much like what do you think? What else do you think has to be sacrificed for cryptocurrency to go? Mainstream – and he pretty much said nothing, and I thought that was like very telling of you – know his his understanding of the scope of cryptocurrencies and what they could do, and and also of just his focus on the money making the money and shamash. He also had. He also had a contour. She asked Laura asked him what his thoughts were on defy, and he said I don't know what defy is so yeah there's another. There was another thing, actually what oh, that really got under my skin. From this interview, I feel bit like I'm, not a hater I'm, really, not but it's.
This concept that he kept he really went into was like simplifying your decisions. That'S, like one of the takeaway, is that he's had as he's aged I'm, not even sure how old he is, but to me it's like he said just then simplify your decisions. It de stresses your and most likely it's gon na be the right decision, and I that is not like a universal maxim that I think you should be encouraging people to do. I understand you know distressing and like getting back to the basics, but if you're talking about crypto currencies as like that's, what he was kind of justifying, as you know, just go for a Bitcoin and forget the rest, because you get to simplify your decision, I mean Talk about what you're missing out on maybe at first but like if it's something that interests you then go for. It learn about it. But I don't know that whole concept is like a a general rule of thumb for life. I do not agree with because what, if I were to adopt that that mindset, like Oh sugar, tastes, good I'm, just gon na eat sugar all the time I love bread and butter I'm, just gon na eat bread and butter butter all the time I would be Obese and have horrible health and probably not live very long or let's, say you know I really dislike this person. I hate this person I'm, just gon na kill him.
What no that is, not let's, not simplify any decisions like that I'm – probably taking. He obviously was wouldn't agree with that, but I it's just interesting how people try to try to justify being simplified in the cryptocurrency space and the fact that he didn't even know what defy was is a perfect example of how not in to the cryptocurrency space that He is because this like whole defy thing is like the 2017 2018 ico phase, it's a lot of hype, it so here's the thing in another way, how like the cryptocurrency space is changing is okay, so we had that ico phase right and got a lot of Hype again because people were making money off of it, they were putting in a little bit of money, the ico would close and then it would hit in exchange, the price would jump and people would dump, and that was it. So there were a lot of people making money like that, and you know that's not so much happening anymore because of regulations and everyone's scared of being labeled a security and getting hunted down by the SEC having a investors coming from the US or they're, probably located In the United States and now there's defy which most of these defy platforms, aren't decentralized at all and it's, really not that innovative as a venn idea, it's a savings account that someone else is lending out and kicking you back. A percentage of return that that is like the definition of a savings account and because most of them are centralized, or at least the biggest ones like block Phi, is centralized.
You have to physically give your coins to block Phi and I think they store it on Gemini exchange I've gone. I made a video on like what you should know about D Phi, getting into that what I really think about that and it but it's it's getting hype again, because people want to make money and they're trying to make money and that's. Like, unfortunately, been you know, the tried and true a thing story line of cryptocurrency is if, if it's a marketable, if it's marketable for it, to like, be a moneymaker quick for you, a passive income, then it's, probably going to take off, which I mean who doesn't Want to have a passive income, of course, that's a great idea, but yeah I mean it's, just there's there's, like a shallow part to crypto and then there's a much more deeper, much more important part to cryptocurrencies, and I I can – and I can't wait until the Day, where people wake up to that, because they will wake up to that because they need to because it has become extremely dire situation and not because you know so many people pursued exiting their system into cryptocurrencies. And you know it's it's a little left to certain governments flapping around it will be because of just extreme mismanagement and strictly and pretty much like you know, abuse of the government's and their power and people will have to be running into cryptocurrencies. So those are my thoughts on this cryptocurrency space and how it's changed over the years, how I've seen it change and how you know I what I've learned along way in that and the trends and patterns that I've seen so no did someone else.
Sorry uh anyway um oh traders on. Can you repost your video? Do you realize what we were witnessing yeah? You know what traders in a lot of my videos were deleted during I don't know. If you remember in Christmas time, there was a lot of drama between YouTube and censorship of cryptocurrency of youtubers that cover cryptocurrency topics and a lot of other topics as well, but us being in the crypto crowd. We noticed it that was there's been like. I they deleted videos that I didn't even know were deleted. I think there's something like 20 or 50 videos that were deleted. Luckily I have I thinked my YouTube account up to library before that happened like months before so I'm, really glad that I did that. So any video that you can't find you can find on library, TV, I believe, or if you have the application, you can just view it on the application, so you can just type in. Do you realize what we are witnessing here and the crypto tips, or something on that on library, TV and it'll? Hopefully pop up so hopefully you can. You can get it there. Um yeah cool, so 30 minutes is longer that's gon na cover it that's gon na wrap it up for today's live stream Toby, and I will be coming to you again on Monday, as always at noon Eastern Time. Additionally, oh wait so he's going surfing right now. Toby oh hold on hold on huh, so it's totally, not the other thing.
So I'm, probably gon na wrap this up and go watch. No, no! No! No you're! Just going right over here! Yeah! Are you talking about a defy right now? Um, it was ended. Oh wait: let me hit refresh second at the chat. Are you going out with here? Didn'T know it's still going, but I was talking about defy okay, I was yeah, so I like defy because I've really, I love a lot of risk. I love extreme risk yeah, but that's stupid risk yeah. It is it's very stupid for a small percentage of yes and it's, like it's, taking old school finance and I'm trying to apply it to crypto, which is brand new evolution. So with that said, you got ta watch out for the smart contracts, yeah and so it's it's, just like you're just dressing up the pig to look different so anyways he was. I had to stop him to say hi. I figured you guys. That is a gel good to see you yeah he'll, be here on Monday, for you guys, okay, so yeah. So for those of you who might not know, I have a patreon account that I offer my crypto portfolio trade alerts and free classes. So the next topic for classes will either be scams currently and past scams to avoid, or the other option is, will be covering like how I research crypto currencies before I invest in them. So that's going to be the topic.
Thank you. Everyone who's been here and celtic girl. I agree i'm, always constantly trying to get him to grows hair up, but he won't he's got cute little curls. I think, anyway, i'm gon na get myself out there it's like a pretty gloomy day out there, but anyway i like watching him surf. So thank you. Everyone who tuned in to the live stream again we'll be back on Monday. In the meantime, I hope you guys are staying happy and healthy and thank you again.