[00:00:01] Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Thank you for that, Bailey. And welcome everybody out there in Crypto Talk radio
[email protected] right at the beginning. Before I jump in, I want to say thank you to all those who've been listening for a while. You, those who are new, welcome. But I want to say thank you.
[00:00:29] Crypto Talk Radio found @ crypto talk fm is one of the top cryptocurrency podcasts out there, and I want to thank you for that. And it's not even about listener count, because listener count can be misleading. A lot of the people out there that have like a high amount of listeners, it's not necessarily that they're quality at all. They just happen to have a lot of people listening, you know, over time or paid, whatever that is.
[00:00:56] It's longevity, it's consistency.
[00:01:00] It is refer, you know, if you spread the word and tell people to listen to the show, it is. There's all these things spinning together. And so I appreciate those listening those new and I appreciate that. And I've, I've worked hard, you know, when I was sick, when I was ill, driving state to state, tired, bored, and I've tried to maintain that and I've adjusted schedule and I think I found a good groove.
[00:01:29] But I know that there's more I could be doing and will be doing.
[00:01:37] All of my stuff has to be sorted out, all my little renovations and things which I'm currently working on.
[00:01:43] I can assure you that whenever I can get done with all this, and some of it depends on Jerome Powell cutting the freaking rate. I'm waiting for that. That's what I'm really waiting on. That's why I'm taking a cautious approach.
[00:01:54] But once I'm done, I assure you I'm gonna give back to the show because I enjoy doing this. I don't ask money.
[00:02:03] I just do because I enjoy chatting with you. That rhymes. We'll talk about a couple things today.
[00:02:10] I'll share some, some of my thoughts on some crazy stuff. But today's episode will be a somewhat shorter episode. There wasn't a lot going on, but there were a couple of news bits I want to make sure I get out of the way that so that they're fresh on my mind.
[00:02:28] CoinDesk.com we're going to zoom out to the mon chart and as timing would have it, of course we started to have a breakdown. So let's talk about that breakdown. But in order to better understand the breakdown, we should start with Ethereum.
[00:02:41] In a past, very recent, past episode, Leister told you Ethereum is the sign. It's the goal. It is what you look at, what I recommend look at, to tell us what's happening with the broader cryptocurrency markets.
[00:02:58] There are many YouTubers out there, one of which I'll be talking about here later, but today, who have told you repeatedly that bitcoin is what leads the package.
[00:03:08] Bitcoin has the most money in it. Bitcoin doesn't lead the pack. Bitcoin doesn't lead sentiment.
[00:03:15] Bitcoin, for the most part is an artificial thing. It is. I'm not suggesting that it's not, you know, obviously it's numbers on a blockchain. I'm saying that the numbers and the push and the rise and the run that you see with bitcoin, a lot of that is manufactured run.
[00:03:34] Not to suggest that it won't last for a while. Not to suggest that you can't make profit off of it. Certainly can.
[00:03:40] I'm saying that I don't. I've never had the full confidence that the bitcoin number was going to continue at the same pace.
[00:03:49] Felt like it was running hot. But I kind of ignored it in the short because I was watching Ethereum, because Ethereum seemed like a better indicator of what was really going on, the broader spectrum.
[00:04:02] Over the past 24 hours, Bitcoin started to break down ever so slightly, a low of just shy of 2,400 that it just hit as I was recording a high of about 2500 and it's going down. So we're in a downward trend. And over the past month, we do see what appears to be a downward trend.
[00:04:21] And I was looking for a lower price for Ethereum for the longest time. I was looking for like 2100. You're thinking that's extreme. It's not. Because I said in the other episode, it felt like Ethereum's run up was artificial. It felt like Ethereum's run up was not real. Like it. It seemed like it wasn't going anywhere and. But because it wasn't going anywhere, I got the sense that Ethereum had the greatest opportunity for telling us. And people attribute it to an altcoin season maybe, but, you know, bnb, BNB ran up. Right. It didn't have any anywhere near what we're seeing on this one. But yet Solana wasn't running Anywhere near as hot as it did Avax ran, but not as hot. Cardano ramp is not as hot.
[00:05:10] So it almost felt like, it almost felt like with bnb, what is it that that's doing that's not happening with Ethereum? Because BNB blue past, I'm pretty sure it blew past all time high and if it didn't, it got close, it might have exceeded it or I might be misremembering. So don't hold me to that because I seem to remember BNB's all time being like 700 bucks or something. I could be off.
[00:05:41] But then Ethereum again sitting in this 2500 range seemed very strange that runs.
[00:05:48] So I don't know what to make specifically of what it is that I see outside of the statement I made which is that Ethereum was where I go what I look at to understand what the market is trying to do.
[00:06:04] Not Bitcoin.
[00:06:05] Bitcoin over the past 24 hours, a low of 105 grand, a high of just shy of 108 grand, but again downward trend, just like with Ethereum. Ethereum and there was a lot of sell off activities that happened recently. And I'll be talking a little bit about Bitcoin ETFs as we go through the show, but suffice to say, in my opinion, we got a little bit more pain to go. It's not like crapping, but we got a little bit more pain to go before there's any sort of solid run. Speaking of pain, if you were one of those that bought into that Melania garbage token that came out shortly after the Trump token came out, I'm sorry and I apologize. I wish you hadn't done that. But official Melania, allegedly. This is what I was told.
[00:06:50] Allegedly millions of dollars of Melania's token has been dumped and continues to be dumped. And allegedly there are 44 separate wallets in the recent dump that contributed to the cell pressure that was seen. And and allegedly allegedly roughly 90% of the supply is held by the people who created or were associated to Melania, the Dev project team.
[00:07:19] 90% of the supply.
[00:07:22] Can you imagine just all the people that would have bought into Melania simply because it was associated with the Trump the timing and to have 90% insider, it's almost like cited Saitama sided chain, right? It's just 90% on the inside dumping on this business. So I truly am sorry. If you bought into Melania, it is clear from transactional tracing that insiders have been dumping on your head just like idiot vidlick the rug puller on Ethereum for quite some time and continued to do so. And I would advise you to stay away from it best you can. I will remind people Melania's peak price I'm pretty sure was like 13 bucks. Currently it's like 20 cents, 18 cents. Trending down so. And probably has a lot more pain to go.
[00:08:12] It wouldn't surprise me. It wouldn't surprise me to see some sort of enforcement action going against these jokers. But they may not even be in the United States. Maybe they're where Nam Tran is, out in Vietnam on the run. I don't know for sure. I'm saying that this is sketchy situation and I'm sorry if you got in it, but it is true that the allegedly based on the transactional activity the inside folks have been dumping on your head and you were a victim of a rug pull, or as they call a slow rug, apparently.
[00:08:45] Now you might wonder, given what happened, what can I do about it? Well, I guess there's one positive to this, which is that such an activity might be considered a loss.
[00:09:00] And as a loss versus a gain, there might be some sort of a tax benefit to you to report it as a loss.
[00:09:09] However, the opposite may also be to your detriment because when we speak about taxes, we have to understand how they would get access to that information. So either you would willingly divulge it on the tax form, and if you had a lot of money, they might try to trace and figure out how much more that you have.
[00:09:28] As such, the Supreme Court recently confirmed that the IRS can access your data from crypto exchanges and they do not need a warrant. You're asking why does the warrant even come into play?
[00:09:41] Well, to do. To answer that question, I have to give you a little bit of a history lesson about where this comes from.
[00:09:49] The fourth Amendment to the Constitution is what deals with why this came up in the first place.
[00:09:57] If you're not in the United States, you don't know what I'm talking about and that's fine. And you can and I encourage you to go and do research. But the simple answer of the fourth Amendment is around what's referred to as unlawful search and seizure.
[00:10:12] The idea of unlawful search and seizure is originated in the physical world.
[00:10:18] It's the idea that cops can't just bust their way into your house and start rifling through your stuff without a warrant. They have to have probable cause to even get the warrant. Has to go through a judge. They asked. You have to believe you committed A crime or something.
[00:10:34] They have to believe you're guilty of something. They can't just violate your privacy willy nilly.
[00:10:39] So when this whole situation came up on the IRS accessing records, and in this case it was coinbase, I believe, but accessing records, they sued, this person sued, saying, wait a minute, this is unlawful search and seizure. They're not entitled to those records. And of course they lost the case. This took, I want to say, almost 10 years, but they lost the case. And I want to explain to you why they lost the case and why I was not surprised that they lost the case.
[00:11:08] First of all, unlawful search and seizure once again applies to physical.
[00:11:13] It's the physical world. So you're like, well, what about cell phones? Cell phones might be surprised to understand that they don't necessarily need a warrant to unlock your phone. In some places they do, but they don't necessarily need it.
[00:11:27] They can still unlock your. For example, let's say they believe that you're, you know, having some sort of a heart condition or something, and they want to unlock your phone to find a contact to tell somebody that you're ill.
[00:11:40] It they're entitled to do that. They can't be blocked because you could be on the verge of death, right? So there are these things that are exceptions to the rule for access to data.
[00:11:52] What you may not understand, although leister at CryptoTalk FM has told you this repeatedly, is whenever you grant custody of your cryptocurrency, that rhymes. To another entity, that rhymes.
[00:12:06] You are giving up a lot. And many of you don't read the terms and conditions. I guarantee you that if you were to read the terms and conditions of whatever exchange that you are dealing with here, there's going to be a line in there that says something to the effect of will cooperate with law enforcement or something to that nature. It'll talk about the fact that they'll basically give whatever information to law enforcement, but they also will say, or some other regulatory need, or there's some fluffy verbiage that widens the net to other agencies that are related to law enforcement. And of course the irs. You're like, it's not related to law enforcement. It is because the IRS is the entity that enforces tax law.
[00:12:54] See how that works?
[00:12:56] People mistake law enforcement to just be cops. Law enforcement is not just cops. Law enforcement is anybody who is tasked with enforcing whatever law.
[00:13:08] So the IRS has always been entitled to access financial records with the exchanges, including wallet addresses, which they can then use to trace back to find wherever you sent Your cryptocurrency people don't understand how easy it is then. Now, the likelihood that they're going to do it is low because they really don't care. Unless if it's a significant amount of money, if you're shifting, you know, 500 bucks or a thousand bucks, they're not going to care. They're going after the big fish. So I'm not suggesting that it's dragnet. I am suggesting that if you think you have some right to privacy simply because it's, quote, yours, first of all, it's not because you gave custody to that entity. So second, they have every right to access it because it's financial in nature. And the IRS has always had access to those records that are financial in nature.
[00:14:00] You're asking, well, then what does this mean for you?
[00:14:04] What it simply means for you is you cannot do basic transactions without a cryptocurrency exchange. By basic transactions, I'm referring to fiat transactions. You cannot without a regular exchange. So you know that. So as long as you don't need fiat, you're probably fine. If you're just doing transactions, you're probably okay. And I did that segue because it applies to what I'm going to close out the episode with, which is the topic that came up. And I realized I was doing it in the background, but it came up on Da Vinci, Jeremy's show with Mr. M as a topic, and I realized, yeah, I was doing that. And I. It occurred to me that I had not spoken about it with you guys, and I figured it's a good opportunity to at least share my thoughts on this.
[00:14:46] The current messaging is around cryptocurrency and the need not to sell.
[00:14:53] Well, you have likely thought about whether you should sell whatever cryptocurrency. You have to do something with it.
[00:15:04] And in some cases there was an emergency that drove it. In some cases it's because you get a windfall. There's all sorts of reasons that you've decided to sell your cryptocurrency.
[00:15:14] What if I were to tell you that in the future selling your cryptocurrency is to your detriment?
[00:15:23] Follow me on this.
[00:15:25] In my situation, I have two banks.
[00:15:30] They're really fintechs, but they're banks banking, you know, and one of them I've got an ETF, which is the Fidelity Bitcoin ETF, Spot ETF. And another one I've got Bit Q, which is another ETF for crypto industry innovators, the BitQ. I've been in it since the very beginning.
[00:15:54] Just a. Just simple, easy. The BitQ. How it works is think of like the microstrategies and all these other ones that are now investing in cryptocurrency.
[00:16:05] The BitQ is a fund that tracks the valuation of all the aggregate of all of these different organizations that are investing in cryptocurrency or they're innovating in the crypto space in some way. So there's this whole laundry list of companies who are in some way either benefiting from or innovating with cryptocurrency. And this fund is tracking that valuation in the form of shares. And you're. You might be intrigued by that. I was intrigued when I first read the prospectus about it because again, I got in real early. I got in when it was dirt cheap. Nothing. This is before the Michael Saylors and all this. We're really going in on it.
[00:16:49] I think I got in at like 2021 or something where we had some runs, but we didn't have institutional widespread acceptance that BITQ has skyrocketed. I've already taken back the money I invested and it's crazy up now. That's an investment. It's. It's like. I don't want to say retirement, but it's a. It's an investment. It's off to the side. It's like a nest egg. I don't touch it otherwise than to get my original investment back out.
[00:17:17] The Fidelity Bitcoin ETF is the one that I wanted to chat more about because I've got into that one. Its lowest price was $36, bought a fair number of shares. I took some profit off of it, which is based on my initial investment, and it's jumped, it's skyrocketed and has been on a very steady upward climb recently.
[00:17:37] I ran some numbers and it turned out that the Fidelity Bitcoin etf, it is estimated, and I want to stress the word estimated again. I bought it at 36, which is its bottom.
[00:17:52] It is estimated to exceed a thousand per.
[00:17:56] It's estimated to hit as high as 5 or 6,000 per.
[00:18:01] That's. It's unthinkable, but at the same time, it's strongly probable because it's Bitcoin.
[00:18:08] And Bitcoin, as that constraint of supply continues to apply. That rhymes. And as there's a price war which is going to happen, it is absolutely the case that at the value of a single Bitcoin is a million dollars, which I'm just making up a number.
[00:18:26] If the value of one bitcoin is a million dollars. That's, that's just 10x for the, for the bitcoin itself.
[00:18:34] From its current price, the Bitcoin etf, because of the way that it's provided it runs its price value, is somewhat correlated to the price of Bitcoin. But it's also separate because options trading capabilities.
[00:18:52] With options trading, it means that you can do calls and puts according to some of this price movement. And the chances are that people are going to overinflate it to the end simply because they can.
[00:19:05] This is what happened with the GameStop stocks and the options and things.
[00:19:10] And so now as I watched mine skyrocket in price and I saw the numbers just climb and inexplicably, the amount I have, and I wish I'd bought more when I could have. I really wish I'd bought more when I could have.
[00:19:26] But the amount I have now, I think I ran the numbers and it came back that if it hit the low number that it was talking about doing, it's, it's a lot.
[00:19:37] It's a lot of money.
[00:19:40] Well, with my account, with the way it works, I have the ability to take out what's referred to as a margin loan, margin loans. And if you don't know, but the margin loan is essentially allowing you to borrow against. And this is not crypto specific, but it applies now that we have ETFs, getting broadstream acceptance.
[00:20:01] So I'm telling you this because it's another avenue that might benefit you if you learn how to leverage it carefully and correctly. And it's somewhat insulated from the risk that we're talking about, crypto. And it's insulated from tax burden to some degree.
[00:20:17] To some degree.
[00:20:19] So the margin loan is a percentage of what you have in value for whatever that is, crypto or, you know, stocks, whatever.
[00:20:29] A percentage of it is made available to you that you can borrow.
[00:20:32] And it's cash, you can just borrow it straight, spend it, and it is what it is. So in my case, it acts like an over draft. I can charge and do what I need to do and it acts like an overdraft. So if there is a larger expense, it is my fallback. If I needed to tap into it for some reason, then I just pay it back. Of course, I have a regular job, so it's easier for me to do that.
[00:20:55] If you don't pay back timely, then you're charged interest on the mortgage loan, just like any other loan. I don't have to apply for the loan. I don't have to fill out an application for the loan. I don't have to give references. I don't have to do anything for the loan. It's entitled because it's my assets. It's, it's, it's essentially already my money. I'm borrowing for myself in a sense I'm borrowing against my own value.
[00:21:23] If you can time the acquisition of certain whether crypto etf otherwise, if you can time the acquisition of it such that the value appreciation is strong enough where you build up the ability to do a margin loan against it.
[00:21:42] This is where I was going with it and where again DaVinci, German, others been talking about and I was doing it and didn't think to tell you about it.
[00:21:49] You never really need to sell the cryptocurrency at all.
[00:21:53] If you never need to sell the cryptocurrency, you continue to benefit from its value without losing the inherent value of it. Now obviously if it's a margin loan, you do have to pay it back.
[00:22:06] So I'm not suggesting that it's free money. It's not. But that's better than the alternative which is sell it. And once and done you can't get back in because the price is too high.
[00:22:16] So if you took, let's just throw random numbers.
[00:22:21] Let's assume you had one Bitcoin right now sitting in the bank or whatever account and you took a margin loan against it, they're probably going to let you take probably 50,000 bucks, probably 40, 50 somewhere around there. Thousand bucks as a margin loan. Well consider if you were to do that instead of doing a heloc, which is home equity line of credit or a cash out refi those options.
[00:22:47] On the home loan side, the rate is a ripoff. A, there's closing costs, B, there's points possibly C, there's 60 days to get your cash. D, there's all these negatives to doing those loans and not even considering liens and escrow and all this other chaos with just tapping into your equity with the margin loan. Such is not the case.
[00:23:15] You're already entitled to it once you have it. Once you have the assets to back that loan, you already have access to it. You could already tap into it. This doesn't have to be your personal bank, it's just that if it's your personal bank, you have more trust because you have some protections by way of the FDIC or whatever. You're in your country of origin, whatever protections they have on the banking side that you can leverage that's what's nice about the crypto ETF and the appreciation of cryptocurrency is that the ETF is traded like any other stock.
[00:23:46] So if you own X number of shares, they're your shares. You don't. You're insulated from the risk of holding the crypto, but you benefit from the price appreciation and you can benefit from margin loans against it and you have the protections for that.
[00:24:01] Now contrast what you could do with that margin loan for that same loan that you needed as opposed to a home equity cash out loan.
[00:24:11] Let's say I needed 40,000 bucks to do something. If you do it against your etf, let's say, or your crypto, if you do a crypto loan, there's a lot of orgs that do that too.
[00:24:21] I would say the ETF route is the safer. But let's say either way you do that, get the cash out, you didn't have to do credit check, it's almost instant in every case, it's a day two. You don't have to do any sort of other collateral because the you already have produced the collateral. You don't have to go through closing, you don't have to fill out paperwork, you don't have to worry about points, you don't have to worry about rates, you don't have to worry about liens, any of that. You could even if you wanted to borrow against your cryptocurrency to pay down or pay off a house, you still own the asset.
[00:24:58] Now it's in somebody's custody, but you still own it. So as long as you pay it down, pay back basically the margin loan, you're good. You do have to be careful because you will be charged interest on that loan. But chances are it's going to be significantly lower than the alternative mortgage option.
[00:25:18] Let's take land, right? Let's say that there's some land that you had your eye on is 50,000 bucks and you happen to have the ability to withdraw 50,000 bucks from a margin loan or a crypto loan.
[00:25:31] You use that to buy the land straight. Obviously it's a scam cause you're paying property taxes. But you know what I'm saying, you own the land now pretty much free and clear and you just pay back on your cryptocurrency.
[00:25:43] Now consider the passage of time. Today the price of bitcoin is just over 100,000 bucks. Let's say it gets to a million dollars. The amount of money you now can tap into has 10x.
[00:25:56] See that's the, that's the aha of a lot of us now is, well, that means once you have enough of this and once you've set it in a way that you can access it, whether it's a crypto loan or margin loan, you technically never need to sell it. You're just basically borrowing against it, pay it back, borrowing against it, pay it back, borrowing against it, pay it back, letting it appreciate in value.
[00:26:21] The only crypto you could solidly do this with, solidly do it with, is Bitcoin.
[00:26:28] Could you do it with others? Absolutely.
[00:26:31] But the confidence is not as high as doing with Bitcoin, because Bitcoin we know, is going to appreciate to a point. The alts are going to go up, but we don't know exactly how strong that that rise is going to be compared to Bitcoin. It could be that Bitcoin ends up gutting the rest of the industry for all we know. We don't know.
[00:26:51] Bitcoin's not going anywhere.
[00:26:54] So I'm basically saying, I'm basically giving you something to think about.
[00:26:58] The big picture of Bitcoin, at least is you don't really need to sell it once you have enough of it and once it's in the right place to tap into it.
[00:27:09] If you get into the Bitcoin ETFs, if you can, and I do recommend you do, trust me, if you get into the Bitcoin ETFs, at some point, you can leverage a margin loan against that.
[00:27:22] If you leverage a mortgage. Think about that. No credit checks, no nothing. You just have access to funds when you need it.
[00:27:29] You're still benefiting from the price appreciation of the underlying asset. It can be a nest egg.
[00:27:36] Consider, as opposed to saving and tossing into an account that only gives you 3% interest, consider that the appreciation of Bitcoin might create a very solid nest egg form. Now, the. Obviously the inverse is true.
[00:27:51] It is entirely plausible that the crypto goes down in value at points, which means you have to be careful tapping into that. But I would argue the likelihood that Bitcoin crashes and burns without recovery is low.
[00:28:10] The likelihood of your bank going under or becoming insolvent, right now, it's kind of iffy. Remember, we had the whole housing bubble chaos. We lost a lot of banks.
[00:28:24] I'm not trying to freak people, I'm saying that consider if you can get, and this is a call to action, if you can get enough Bitcoin to where it becomes part of your nest egg, it becomes something you are not going to sell it's something where you're not going to let it go because you would use it as a store of value at some point in the future because of the fact that we can borrow against it with multiple ways. And I strongly encourage looking into the Bitcoin ETFs. Absolutely. Because I think the Bitcoin ETFs, given they're already regulatory accepted, given they're already insured, given they're already issued safely by the financial side, given that it automatically grants you access to margins and options and things and be careful in options, but because it grants you so many diverse ways to benefit financially without the inherent risk of holding the asset, I'm suggesting you should hold some Bitcoin directly.
[00:29:30] But I'm also saying that the Bitcoin ETF is something you should consider because it gives you direct access in many cases to these margin loans that you can use when you need the money. And as it benefits, as it appreciates, there's more that you can tap into. I think it's huge if you can train yourself not to sell those assets, those specific assets.
[00:29:55] So you're like, well, then what's the target? Well, you never want to put in more than you can afford to lose.
[00:30:00] Bitcoin is going to have ups and downs, so there's not really a loss, but it's going to have ups and downs. You never want to put in more than you can afford to lose.
[00:30:09] Everybody seems to throw out a number.
[00:30:11] And it that number roughly, it roughly equates to about a thousand bucks.
[00:30:17] $1,000 right now for bitcoins. Price appreciation is pretty good to set people.
[00:30:26] When I say set people, I'm suggesting that at least on the straight Bitcoin side, it will result in a pretty good amount of money at some point in the future.
[00:30:38] On the Bitcoin ETF side, $1,000 won't go too far, but it's going to appreciate as well. And by the time it appreciates, that thousand dollars is going to be huge.
[00:30:51] In the ETF side, again, you have access to margin loans straight away without the hoops. And it's something easy and clean without the risk of holding the asset. Holding the asset. You have to find an organization that offers cryptocurrency loans, which is fine if that's what you want to do.
[00:31:08] But I want you to be thinking about how that changes strategy for you. Instead of worrying about the buys and sells of a thing, you worry about holding strong assets that you can borrow against when you need to without ever losing the asset. You still have to condition yourself to make sure you pay it back because you will be charged interest on those loans. Although the interest isn't great, it's not significant.
[00:31:32] It's still you don't want to have to pay the interest. Right. And you don't want to be liquidated because some will liquidate you after a period of time if you don't pay. So you do have to pay it back and you'd have to train yourself. So make sure that you are. I'm not suggesting free for all. I'm saying make sure that you are controlling those urges.
[00:31:48] Just realize that it's another tool that's yet available for you.
[00:31:53] Really intriguing stuff, fascinating stuff and it changes the game. You know from and I know some of your gamblers roll the dice. Hey, those I know I'm not going to criticize it is what it's. I'm talking to people that are not gamblers. I'm talking the ones that want to have something stable. I'm talking the ones that want to use this for what it could be. And I think that's huge, especially in the future with uncertain money. Especially with the one big beautiful bill and the unknowns about deficits in the printing, printing, printing, putting of money. There's all sorts of unknowns that this gives you. One way to insulate yourself from some of that disruption that's out there.
[00:32:29] In closing and a wrap up, I like where we're going, but I have had to adjust my mindset. I've had to rethink all the things that I was focused on the matter anymore. Yeah, they don't.
[00:32:45] Passive income does, but it's not, it's not real, it's fake.
[00:32:50] So I look now to say, all right, well I can. And there's so much crypto that I had and sold and I realized, geez, if I just hung onto it some, I had to. When I was mining it and I was broke, I had no choice, I had to sell it. But I got a different vision now and a different outlook. So I will be focusing, continuing to focus on Ethereum and Bitcoin.
[00:33:14] I'm probably not going to speak to too much garbage projects every now and then, maybe especially on asked to.
[00:33:21] But for the most part I'm going to focus on those mains and some of the other core coins because I think they're worth the time and attention if there's news bits. Yes. But I want to see if I can convince even just some of you about the value of geez for these main ones. I'm not talking the garbage. Let's talk about main ones. There's so much huge potential and just having it in an asset and having it be available for you to borrow against instead of selling it. It's, it's, it's your own personal. It truly is your own personal bank. Obviously, there's a different custodian, but the assets, yours. It's not like you're borrowing someone else's money, per se.
[00:33:59] And then what's going to happen if the whole fiat system crumbles?
[00:34:03] What does that mean? It means that society would have to fall back to the digital assets. And that's an intriguing thought, especially if you're already ahead of the game. So remember, in a diverse portfolio, you should always have some Bitcoin, for sure.
[00:34:18] Get some stocks, get some ETFs, get a bunch of stuff.
[00:34:22] Don't focus on one thing, please don't do that. Please don't yolo on one thing, please don't do that. And just be smart about it. And I think everything would be cool. And I'm, I'm excited for the future. Although we are in uncertain times.
[00:34:34] I'm excited for the potential if all of us can get on board with this new way of using digital currencies.
[00:34:59] Sam.
