Bitcoin and Cryptocurrency Update

oh all right we're in excellent condition we're good to go guys welcome back to another live stream off box mining here today is the 24th of july 2020 it really feels like a month has passed since we last spoke on a live chat at the very least because crypto is just booming this whole week with the defy craze going into full swing hyper speed warp speed literally for the most of the past week i spent a lot of time researching not only researching but also playing around with yield farming i made the video on yfi and there was so much dynamics going on governance pools coins collecting fees something i didn't mention in that video but anyways it was crazy we have a full defy list up here it's only going to get bigger because that that world is okay so there's a lot of hype in that world but it's also achieving a lot in that space i think all of a sudden we saw the switch being flipped i think something i noticed with the exchanges as well this week is that everyone wants to list d5 coins now it's like there's a flip that's the there's a switch that initially all these d5 coins they were trying to list on these centralized exchanges but you know centralized exchanges were like uh you know we're gonna take 200k we want we want at least 200k market making and and you know all that budget it's expensive it's expensive but pay us a listing fee but now all of a sudden now with d5 going on their own exchanges uniswap and balancer all of a sudden centralized exchanges are just jumping on we see ftx we see kucoin we see binance finance finally listens the decentralized currency die so all of a sudden centralized finance right the centralized exchanges are all jumping and that's if that's not a big change i don't know what it is so all of a sudden everything's going so we also have the markets going a little bit crazy i'll just touch touch upon that right now before we start the main episode ethereum oh boy past seven days up 17 look at these two big pushes up a lot of it's due to some news with us banks but there's also a lot of boiling underlying aspects here that i would definitely want to touch upon so we'll touch about a little bit about what i think about the pricing and everything else here if you guys like this channel make sure you smash up that like button pump that like button that's the only thing you can pump pump up that like button it's important and also subscribe so that's all there is today so yeah it's going a little bit crazy so it's blank courses yeah seriously lol um big welcome to all um our returning members to this live chat if you guys don't know when the live chats are on if you guys are watching this after the live stream i'll put the times up so we have times up here monday friday 11 a.m hong kong time that's my time but it's also put the eastern time i'll also put utc there i just don't have the time this week has been absolutely phenomenally busy so yep that was crazy so okay let's see um let me tell you a little bit about my cop cap yeah yeah i'm too excited let me tell you a little bit about my podcast before we start so i have a podcast called bitcoin out of the box and search for out of the box this is my new podcast it contains interviews that have not been aired on this channel so the latest one was with trust swap ceo jeff kardakis this was a conversation that was just like wow defy holy crap it's popping like the amount of stuff you can do in this space especially if you have a fire burning if you have a fire burning if you have that motivation to do something important holy crap and in many cases jeff i have so much respect you know i'm not i'm not sure if you're watching this but just so much respect for how fast he moves i just like that conversation is a very very it was very casual conversation i didn't um at that time i didn't really want it to be too formal i wanted to be as kind of informal as possible and something that i definitely realized in this whole time like if you have a fire if like if you have a fire in the space and you can work and you you're willing to pull in the hours just you just look at how much trust swap has done in the past seven seven days it's just phenomenal between signing up different people showing up different technologies pushing forward it's it's crazy and that speed is that which we need right now for crypto it's just utterly insane so not not trying to flatter jeff too much but yeah um yeah sudden lots of respect especially since i've known him for a long time i knew that he had a fire but man that fire is strong so check out the conversation check out the podcast it's not featured here we also have the conversation of the guys at plutus defy before they went absolutely crazy and just big shout out to plutus defy as well so i talked about them in an earlier video this week and they had to delay their sale for the plutus defy token so now they've delayed it to next monday utc so let's defy let me put that at the medium and yet again everything here is super dangerous but again i was super interested in it because of course right now i'm diving head first into crypto you don't have to follow me i guess in that sense but anyways so they let's just check the article here on new listing okay here so the bonnie's but the bonding curve sale so it's um being pushed ahead now it's on plutus curve curve that plutus.defi they have their own bonding curve website and the sale would be on monday the 27th now so that's just a site time change update so it will be for me it'll be 6 p.m china time because i'm in hong kong right now but it will be 12 p.m like basically noon gmt time so with that i think it's all about just to guys you guys know um i know a lot of people are just diving and throwing hurling bricks of money right now calm down what they're doing is they're doing privacy with a platform for defy and yield farming kind of what i'm doing so i guess that's what the relevance there but anyways um that's kind of crazy so we are we are at there we got dendro lamont says can we talk about player pl a player has doing been doing phenomenally well for the past few weeks i've acknowledged your request a lot of people have requested that i talk a little bit more about player so this is the thing with me sometimes you know if it's a it's something that i'm hodling or something that i'm investing or something that i'm advising i'm actually like you know i do my job right so i've met patrick a lot we've done a lot of work together but at the same time i don't always like you know i'll show every day i think a lot of people like i kind of got offended when people are like oh make sure you show tomorrow i'm like i'm not a shiller i'm talking about honest important technology i'm trying to push things forward and if you like that great good for you if not not the channel for you buddy not the channel for you so we will do it we'll do an interview with patrick very soon i think that was a very strong community quest and i promise that but it won't be immediate it'll be the next few weeks so yeah there we go that's that's my me addressing that comment all right so let's go straight let's dive straight into what's happening on the market so yet again today we saw we saw major flicks coming out of ethereum it's kind of funny because i'll i was introducing people to ethereum and talking about it when ethereum was 170 right so when i kind of like went more deep into this space like um there was a period this year i was just playing video games i wasn't very like um i was like playing league of legends i was like trying to rank and then i said you know what now the market's shifting i need to build something and i've been pushing super hard to build and work on everything here i mean check out the new office new studio etc and all that takes time right so i kind of stopped playing video games but i was telling all my gamer friends yo ethereum check it out 170 right now and now it's at 270 so funny story huh so we have this enormous push up and bitcoin a lot of this might be due of course so we saw this news coming around i would say 24 hours ago so this is a little bit later i mean this is more of a retrospect piece um some people are attributing this like i think it's quite dangerous to read these articles just for all because people are linking this rise in cryptocurrencies with this green light for um bank custody for crypto so we'll look at the news and i'll discuss what i think in a second but what did happen is that the u.s banks they're given the green light so that they may all right they may hold custody of cryptocurrencies it doesn't mean that they will immediately doesn't mean the banks are immediately say yo put your bitcoins here yeah put your bitcoins here buy bitcoin yeah um they're not immediately going to do that they can all right they they may if they wish so but that's such a huge movement um all of a sudden that's yet again giving a lot of recognition to bitcoin and cryptocurrencies it's um it's kind of the opposite of what's happening in china where china was like yo you guys can't trade crypto anymore you guys get out of the country if you have to um this is more of a positive movement forward for crypto so yet again this could all right i put this could um here could have pushed bitcoin prices up to 9 500 so that's really you know if you guys remember bitcoin wasn't moving at all so this could have been the big news that did move it and we also have ethereum pushing up but i just put one caveat here is also that we do have quite a lot of variation for the time it's sometimes news tries to make the link absolute they're like oh absolutely this is a reason but i think with ethereum there's actually a lot of this would cover up a lot of the underlying tension as well for ethereum if you know ethereum uh the the cryptocurrency or the stablecoin the ethereum-based stablecoin die so this is a stable plane backed by ethereum so it's not backed by us dollar unlike usdt but it's backed by ethereum so technically it's worth a dollar right technically it's have has one dollar worth of ethereum backing it but people have been hyping over this because of a binance listing it's not even showing up here let me see if binance recently listed it's not even is it showing up here it's not even showing up here is it nope but binance recently listed it let me just flow it on binance by um um i didn't i didn't even realize this until my friend told me last night like um that they were listing died let me see more markets where why is it not loading right so anyways die was listed yesterday and then all of a sudden when it started trading let me switch that to hourly view it went up to a dollar 14. this is something i don't understand about crypto was like all that hype all of a sudden people like oh yeah you want to buy a dollar for you want to buy something that's worth a dollar well i'll charge you a 15 premium for that this is how insane crypto is so yeah there was immense heights at the start at immense hype at the start and why i feel like die right now even at this current point there's a two percent premium right so this is the the die premium for it even though there's a two percent premium people are still buying it and why aren't people creating more die is it because it requires you to lock up ethereum so the lock up process means you have to really lock your ethereum up and there might not be enough ethereum to be locked up right now for that and this is another reason why it could be the case that ethereum is moving more than everything else i think this might be overlooked is that but all of a sudden two things just a larger trading market for die now and also it adds validation to what ethereum is doing i think for the longest time i i do have to admit here that i wasn't a big fan of die because at that time when die was proposing a lot of this stuff where it's like oh this is a stable coin backed by ethereum but i'm like don't you remember 2017 where ethereum prices flash crashed to like nothing don't you remember remember remember 2017 that was like literally like what a year ago where ethereum prices suddenly crashed and then if that happens what's going to happen like this die is still going to be worth anything because it's a it's a cryptocurrency backed by cryptocurrency not backed by real life assets but this these few years what's happening is that this price is stabilizing there's bigger and more markets out there we're not so reliant on a coinbase which means that even if there's a flash crash and we did see that this year okay um crypto did plummet but die still managed to survive so it's kind of like adding validation to what that's happening and let's just take a look at ethereum as well markets okay so let's take a look for this year so yeah there was a flash crash so if there was a flash crash like this from 200 to bam it goes down to 100 half its value what's going to happen to die right and there was actually a lot of liquidations for a lot of people holding ethereum um locking up ethereum in the maker dow i'll go into this a lot more detail i've actually started using maker dow recently because i locked up some ethereum to generate die to go yield farming so yeah so i made full use of the system i had to swallow my words and say you know what maybe this is actually quite useful uh this is bleeding edge and i think i've kind of changed my philosophy going forward as well into space because i mean obviously you guys know i made a video about wi-fi and in fact i was talking about yield farming especially when it comes to wi-fi you know work hard play hard yes uh no i mean why finance why earn finance what a weird name what a weird coin but regardless i was talking about this and farming this way when i first started within the first six hours of starting this i was like telling you guys what's happening because um the reason why i was doing so was because i was in the y pool prior to the token launch so i was getting around six percent apy annual percentage yield but the moment that coin released because there's so much hype on this coin all of a sudden the annual percentage yield just jumped to a thousand two hundred now roughly it's stabilizing at around six hundred to eight hundred percent which is ridiculous and even when i talk about it i'm just having to pinch myself like okay look what are the risks and should i even talk to this talk about this with the channel because the rewards are just so high that people it makes people stupid all right the rewards if you think about it it's almost like big connect it's worse than big connect it's more gains than big connect in the first week but obviously it's not going to last and there's many differences a lot of the the top comments with this was like well how is yield farming different from big connect and i think i think having had to address this immediately because the difference here is that big connect use new funds so users contributing to a to the the funds directly to pay off the upline so there was no value storage the difference with all this d5 stuff is that the money is not sent to up there it's more transparently put into a smart contract and in the case of the y pool that smart contract reinvests that into various other protocols such as dydx or compound or ava so it kind of makes use of all the high yield d5 lending platforms so that's where the money transparency goes in but there is one caveat though you're not just farming yield farming for the gains that you get from the contract rather you're farming it for a coin so you're farming it for in this case i'm farming it for the y earn coin it has a huge market cap already and the supply is just starting out so in that sense that and that's why in the video i think i got a lot of flack for this because i didn't really promote yfi in the video and i intentionally didn't do so i'm not a holder i'm not a long-term holder of yfi because i think there's so much speculation here um i'm still a little bit okay i'm still a little bit uh cautious here so yeah as a farmer i just sold my yield i got i got my wi-fi i sold that for whatever um it's out there so yeah if you guys want to talk more about it so i took these rewards i got them i sold them um yeah worked out pretty well for me but there's immense risk as well um in doing so there was a risk of new point new coins being injected into the balancer pools that was one of the risks there's a risk that all these smart contracts can blow up we did actually see contracts blow up like d force there was a hack that stole millions from a smart contract so even if they're programmed even if they're math that math can be slightly flawed if it's not audited correctly and in this case we know that it's only 70 semi-audited a lot of the templates for wi-fi are audited but when it comes to deployment not everything is fully opt um audited before deployment so that's why with everything here they always say you know this project is in beta use at your own risk and there's a huge amount of risk associated with it so anyways um yeah that's a lot of ranting that's a lot of ranting let me just follow up on the comments um um well hansen says um angela says there's a lot better much better returns than those investment funds insurance companies sell you i mean it's crazy in crypto right um like you go to a bank all right either bank or insurance companies insurance companies in hong kong are pretty hot too like prudential they're offering like five percent and i did actually buy a few investment products like that so they have these mutual funds that's um they you know a certified financial advisor will talk to you and be like oh we're gonna put your money into building bridges into these 10 20 year long infrastructure investments your support and maybe some u.s stock market you're supposed to be making around five percent per annum here's your rewards list for the next 20 years look after 20 years you're gonna be rich and then afterwards right like uh for the last two years that fund has been losing money for me so magic right magic so obviously um crypto is much more transparent but at the same time it's much more experimental so i think that's the difference here there could be catastrophic failures and i think one of the quotes was that you know right now with the way ethereum works some kid in the basement maybe even a 16 year old kid can type up and create synthetic assets that are you know mutual funds it's crazy like this stuff would have taken three years to approve it was right if it was run by the government right it would have gone through all the regulatory approval or due diligence but some kid in the basement could do that in three hours right now that's how crazy defy is but at the same time it's like it's risk reward right you have to understand what's going into this but you know that's the insanity of this right now sochi mochi says i'm just trying to be like you with yfi returns um i think at a certain point you know like um you know i tell people this all the time and i i really do mean it you know you got to do your own research if you have to find if it's the right thing for you um yeah like i have my risk tolerances and i think something that i was pretty lucky here right i was a little bit lucky because um you know around three months ago i went pretty i went deeper and deeper into the space and that's how i managed to catch the wave i think the best analogy i would say for this current situation is um it's like surfing okay let's say you're going out surfing you paddle out your it's the ocean you paddle out and for the whole two last two years the ocean was calm right no waves nothing you're just sitting there on your surfboard you're like all right and then you see a bunch of other people too you're like okay we're all sitting at where we think the apex is going to be we all think it's going to happen okay great now the issue here of course is that when the wave comes right you got to cash the wave you got to start running and i think that's where i was kind of lucky i'm i caught this wave of defi and i'm in a good position because now i can ride the wave the issue of course is that if you jump join in too late right if you're all the way in front right the wave is going to be too strong you're not going to be caching the wave you're going to be like oh do i jump in or do i jump off you know like it's like the wave is too big it's you can't take it you can't take that wave you have two choices right you can either try to scramble on your board or you have to just jump off your board and just like curl in a corner like that right so that's what happened in 2017 i felt like i felt like people who joined in late they couldn't catch the wave because it was like already just crazy right like jumping on at 100x like how do you even justify that and then at a certain point of course if you uh so if you jump on you're going to lose money if you don't jump on you're going to feel so bad because you're like ah you know i'm going to curl up in a corner and just ignore everything that's happening so i feel like that's that's kind of the mentality i don't i'm not sure if you get that surfing mentality but um yeah so that's kind of the thing so i was a little bit lucky so now i now the issue of course is we don't know how long the wave is going to last right we're on this wave at least for me i'm on this wave i don't know how long it's going to last but i did okay i did take out some profits um that's just the way it is um even if i can make more in the future i did take out some profits i'm like you know what um well i'm saving up so in terms of d5 that that bucket really blew up i took around 10 20 out um just like broke took it out and then cashed out a little bit so if you guys are interested in cashing out or buying more bitcoin um i'm talking very very close with the guys at genesis block right now we're talking like full disclosure for talking working more together in the future but they're one of the otcs in hong kong but they also handle clients overseas as well so they allow um quantities of movements of cryptocurrency so if you guys are interested check out genesis block and i'll i'll talk more about them in the future if you guys are interested and the difference here is it's kind of funny right so um the difference here is why you want to use an otc i thought you know if you have an exchange why use an otc and i ended up using them it's because they give you a direct cash conversion and they can send to your bank account more easily so it's just about the quantity you're cashing out sometimes if you're cashing out with certain banks um certain exchanges especially because i was dealing with things locally here they have international bank accounts which it makes it easier for you for people to cash out so anyways um not going to go too hard into it but just check it out put the link up here free will say buy bitcoin today when the banks realize that people are done with their scams and turn into bitcoin you will have to get in early and we'll become rich that's it and i think that's pretty much the case i think you know especially with coronavirus um it's shown us a few things right it's shown us that the current centralized financial system is not stable i mean i talked about this at the very very start yeah and obviously bitcoin is the pricing if it's not stable but what we do know is that no one can create bitcoin out of nowhere no one can freeze bitcoin accounts you can send bitcoin anywhere in the world and kind of scary right now is with the political situation that's going on is that countries are becoming more and more closed off we have the trade war escalating to new heights we have political uncertainty that's happening around the world very soon the movement of money right we used to enjoy the ability to send money anywhere in the world with centralized finance now in the next few years i don't see that happening as much i see gradual decreases like right now for example if you look at china there are financial controls you're only allowed to take out 50k usd per year per person there after that sorry tough luck you're not allowed to invest in property overseas don't the government's saying you keep your money here because we don't want our economy breaking down and that's going to only happen more maybe it's not that reason maybe that's not the official reason but anyways you can guess right but same thing with south korea and that might happen more and more in the future so having something like crypto i think this is something that i didn't understand at the start of all this you know in 2012 when i started mining right i almost have feel like this is goosebumps because i'm like now i'm like liquidity mining right but when i was mining i didn't realize the power i was just like oh whatever it's bitcoin you know peter schiff or whatever says it's gonna go to zero i'm gonna sell at 15 because i'm smart not very smart now i know now i know now that's the point of this channel is so we all know we're gonna learn together and that's the power of it i think anyone who comes into this you know if you don't recognize that power yikes and speaking of that of course you know i'm a big hoddler of bitcoin i'm not a maximalist by any means but i do believe that having higher liquidity and high having been the original matters a lot so that's why in terms of my hodl bitcoin stands a huge amount and i don't touch it i don't ever touch it um with ethereum was slightly different i did say i have ethereum's my hodl v chains in my hodl ethereum i did touch a bit because i used maker dow to convert that to die to go yield farming but that's just my personal choice and i still have the ethereum it's like the ethereum is not sold it's uh being used as collateral to generate die so that's the little bit of difference there but yeah so that's kind of the current case with everything i feel like um with now d5 coming into play like it's kind of funny because you know i've been doing all these d5 videos right so i i did i have a whole d5 playlist i'll put up there somewhere um in fact i'll show you guys this here playing oh yeah you can see that um playlist you got the d5 playlist right here so there's a bunch of videos here and i definitely recommend that you check it out um i'm so glad i did them because all of a sudden now we're using balancer we're using unit swap where all of a sudden metamask tips and tricks become super important because people are just finding themselves with stuck transactions everywhere right so all of a sudden you need to know these advanced tips and tricks to use it it's still not the cleanest thing right it's still not clean um right now d5 is still not very easy to use if you ever have a stuck transaction on metamask it is painful and just a special note for you guys if that does happen activate the nouns feature so let me just show you guys this very quickly here so um uh settings advanced um there's a there's a nouns feature here where or maybe not there's advanced gas controls and then you also have to turn on turn on transaction nouns um that will allow you to customize and to essentially shoot down um stuck transactions that's extremely extremely important so make sure guys you are aware at least aware that it can happen that you need to shoot down a broken transaction um that is relatively important still lol so just make sure that's the case all right we've got poncho says if you're a fan of tokenomics of a project called ample probably the most technically interesting white papers i've read ever might give to you i love your channel uh and your con presentation so ample i've struggled with for the longest amount of time it's it's been pumping immensely recently um a lot of people have been getting into it and personally my friend like was non-stop talking about ample for so for me personally um i touched it for fun to check out what the rebase is like but at the same time i've always struggled right this is where i'm struggling with why ample is useful in the long run so basically it's a it's a coin that's super interesting i don't i don't doubt that it's interesting basically the quantity of ample that you have even though you save it in your ledger wallet or whatever wallet it would change every day in a situation something called a rebase so if say it's worth more than a dollar um and right now at the current point let me see ampl let's check it out here so if it goes up in price right it'll do a rebase where you'll have more so we've been looking at it like you get around 10 or something more ample in your wallet so you're like oh shoot i have more ample but at the same so all of this is trying to stabilize the price it's trying to use quantity to stabilize the price so instead of having volatility in price it will opt to have volatility in the quantity of ample you hold super bizarre i've never seen anything like this before so i'll think of advantages and disadvantages of it i mean i saw quite a few big funds invest into it and from their perspective maybe this idea of synthetic acids will take off for me i'm like what's the point you're you're not mitigating risk you're just putting the risk somewhere else right so you're putting price risk to quantity risk anyways and i'm not sure if i'm talking too deep here but anyways that's kind of a theory behind it one thing i did notice with ampleforth is that with the major explosion that they had recently so in terms of the price it did shoot up drastically um this would have been a hockey stick if it wasn't for the rebase so i think a lot of people might have been put an off by that because now you're kind of just hiding the immense pump under the the quantity growth so i guess that's useful for hiding how much you moved up i don't know that's like the most cynical way of looking at things so i hope i hope that makes sense for you guys all right um but yeah um i'll look into it more if you guys are interested so thanks poncho for the suggestion um yeah we got oscar cortez's vet for life oh yeah by the way we did do a interview with sunny this week so if you guys haven't caught up with that uh yeah this is it's up on this week let me see if it's up here yep we did a stream so let me put that here with that stream was pretty amazing with e-chains with sunny so boom up there i think right now it's like the whole situation is crazy um it's crazy insanity how much people have been making i mean obviously i'm not the only one who made a lot of um made money here right so um there's definitely a lot of hype and fever on d5 obviously um with anything like this i will have to say warning going forward is that it won't end well uh there will be it'll be like the analogy i said was very similar to the internet bubble we are approaching the d5 bubble but in the long run why it's for me it's still worth looking at is because well the internet changed the world so there we go but you're you risked that anyways we got angela wang says 30 minutes i did say that today i'm going to do a little bit of a shorter stream today mostly because i just wanted to take a break so this week um it has been pretty insane for me on a personal level because i'm jumping into a bunch of projects and i have wi-fi farming on the side wi-fi farming on the side and that has been very stressful mostly because i needed to understand all the risks involved so at the start i put in a smaller quantity and then i grew that quantity pool and then i needed to make sure that my assets are safe so my ass is covered so right now it's still going pretty well actually i think right now with the wi-fi prices going up like in to insanity um i definitely recommend you check out the video to see at least what is happening here with all this farming business and uh the d5 playlist is where i will start so yeah crazy yield farming um and everything here i'll definitely recommend you seeing everything here and um yeah it doesn't even cover the risk i cover a lot of risks involved but it doesn't cover all of them so ravi's asks uh what what are your views on ample so i just said them uh just now even quick summary i think it's interesting but it's not something for me personally i think what it does is that the rebase hides a pump very well so it could be going up like crazy amounts everyone's collecting more and more rebase but at the same time what is the value of this project in the long run harder to say this is harder to say is it really worth 20 million dollars or what not um hard to say i think i think it's one of the amazing pumps that did happen in fact not 20 million it's the market cap is a 333 million so congrats to anyone who got early on um did i buy a bit yes i bought around a thousand dollars worth of ample um just to try it out everyone was recommending that to me i'm like okay sure let me try it out did i make money from it nope i actually probably lost around um i would say i lost around 15 after two rebases so it's still we'll have to see we'll have to see uh i did try it out because of all the hype but i don't really see long-term value um mostly because like why why is this asset useful it's a like i don't know it just it mitigates the price risk to a quantity risk but it doesn't reduce risk right it doesn't um it doesn't eliminate the risk altogether we have chain link hype chain link is crazy um and this whole market's crazy and i think i kind of readapted um before you know i think 2017 i was quite elitist uh like i only wanted stuff that has immense value but now i'm much more open-minded this year just because quite honestly why not um am i gonna hold everything like like i said i bought a thousand dollars worth ample am i gonna hold it nah i'm not not really but did i buy it yeah why not you know just to see it i don't i don't see why not uh but that's the answer so we got please answer is it ethical to trade crypt cryptography cryptocurrency i don't know um yeah this is a big concern okay i understand now our doll our dell de la tardelle says is crypto helping or hindering the black market um i think there's always this rumor that crypto is helping a black market or something like that um the u.s dollar take a look at that i would say like do does a mexican cartel so going back to black market trading right so what does the mexican cartel do they ship drugs up to the us to sell drugs and then they receive a lot of cash do they change that cash into bitcoin to send it back or to use bitcoin no not at this current point anyways what do they do they take that us dollar take it into giant trucks and then ship it back to mexico and then hsbc launders that money that's what's happening i think yeah if you're worried about black market get out of the us dollar that's a that's the easiest way to say it that's it's yeah uh watch um watch a lot there's a lot of netflix documentaries on this like you should watch definitely what's happening with hsbc i think there's a banking one uh temporarily phased out i can't remember name but there's another one about the china hustle as well i definitely want to uh i would recommend that to just kind of give you an idea what's holding on um yeah poncho says banks have been busted laundering money for the cartels hsbc right up there busted but did it go to jail did anyone go to jail not really like they're so rich they don't go to jail anymore they get fined but they're like huh you find me two billion i made 20 billion it's so messed up this world is so broken like this is like it actually made me quite depressed like i say this like i say this quite lightly but like honestly it made me quite depressed for the last two years just really realizing what was going on in this world right you know um i grew up kind of believing all this fan um that's especially this hollywood fairy tale that um you know uh the good guys win no they don't the bad guys always win right that's that's the messed up part about the world the bad guys are the bankers they've been creating this like monopoly on banking and that's what defi is trying to solve it's just kicking those guys out and right now is defi broke yeah absolutely is it the hero that we we we deserve i don't know like is it even a hero it's much more transparent in crypto what's going on and some of the stuff that's happening crypto is also super broken like exchanges demanding huge amounts of money for a listing i don't know it doesn't it's not a miracle cure but at the same time having something on the blockchain means it's much more transparent and open for everyone to see and with all this crazy stuff and this is the saddest part this is what made me depressed with all the shitty stuff you see in crypto right because you see a lot of shitty stuff you can only begin to imagine that this is done 10x in the real world all the shady stuff it only gets magnified when it bridges into the real world because now lobbyists could be bought you can you can if you're if you're a big entity you can a silence your opponents with just by just outright suing them because you have more money than them then you can kind of buy lobbyists to change the law to your favor i mean welcome to the real world so i guess that's why i'm here anyways that's my rant for what's happening for the longest time i hope you guys are in touch we've been doing a lot more recently as well with these decentralized finance we've been covering almost everything on box mining.com i've been drastically trying to expand that and if you also are interested in writing for box mining we've been trying to get more people to write for us so contact that box money.com just tell us if you want to write or if you want to contribute in some form or the other basically we have a whole d5 section now we also have okay if you scroll down to the bottom half of the page you'll see the subscribe to our free newsletter we just we're just preparing newsletter zero so the first newsletter that's going out we're going to try to make this a kind of a bi-weekly sort of newsletter so you don't get jammed this is just kind of an experiment for me but already some 300 odd people signed up so it's going to be crazy uh thank you guys so much for signing up too so right now um this is going to be free for now i'm not sure long term if we want to make it free or not free but we're going to do substantial amounts of research we are i'm like i am spending money on this website like this is not a money profitable making machine there are some profits i have some ads on there but at the end of the day um yeah it's gonna be it's gonna be boss right now i'm putting money research and everything into this so check that out we yeah and angela is coordinating a lot of this so thank you so much angela uh uh we got miss missus michael thank you very uh thank you every time i watch a video from you i learned from a ee tambourine too thank you awesome awesome um so yeah that's pretty much it i definitely want this episode to be a little bit shorter um yeah recently been doing a lot more more investing size so yeah that's taking a lot more of my time and i'll keep you guys updated i think my rule is i'll start making more videos recently but i definitely want to cut down the length of all the videos that way i have a little bit more time to myself to do whatever i need to do including yeah everything so it's been pretty busy so let's do five minutes of q a um and we'll see what's happening we got jose gambola says i want to know you guys hear about how you hear about the latest newest and latest projects coming out and this is something that i've been drastically improving recently as well um i think a lot of people were surprised with trust swap i think a people few people asked me about trust swap too but that's because i knew jeff as a good friend like we were hung out in bali we were like we're in the gym together i made a video for that too and i'm super glad that he is stepping full force into this space uh so sometimes it's through your friends sometimes it is your friends and other times it's through different groups and something that i've been drastically trying to improve on and to provide to you guys is kind of a list of what i'm looking at like i looked at cap prior to this and that did like crazy well um i also looked at some projects that didn't do well like xys there was apparently a group that was pushing that it didn't do too well i think that went like to 50 of the original value um but it was fun it was fun to look at it there was camel there was uh tornado cash um i tried to get in on that i don't think i can um tornado is just too hyped right now um but yeah i think i think everyone's like if this kind of symbolizes anything recently the trend now right um if you look at the narrative for the whole story for the d5 space was that uh the first one that came out was compound that really pushed d5 scene into something crazy i mean at a certain point compound almost touched a billion dollar market cap just for a governance token and people were expecting it to go even further but i didn't go further because it was such a high cap that people were looking at compound alternatives so all of a sudden people were looking at new projects and new projects were getting listed on uniswap first so uniswap became a major hub for new projects this is where d5 beats centralized finance c5 because projects can list immediately on uniswap they can do something called an initial liquidity offering which is like pretty much like this year's ico right so all of a sudden people were rushing into these new currencies and from the narrative angle that's why compound didn't really push that much because all that money flowed right compound dropped from around a billion to around 500 million dollars market cap all the capital flowed to newer projects and all of a sudden these new projects flowing up left right and center i mean if you even look at the case of trust swap i know it's ridiculously hyped right now but someone who invested 300 000 made a 50x right i think they calculated to be around 1.5 million dollars at the end so that's insanity so everyone's trying to look for these gems but at the same time of course we're going into an overhype phase where people are just blindly hurling bricks of cash at new projects when who knows if they have long-term value or not so that's the situation we're up we're in talk about tello box what do you think about it i i don't have an opinion i think i've heard about it a lot but anyways that's that's pretty much it for now um is it tell or tell or tell of credits right tell a tribute um oh this is a good question as well bernard mccarr says do you think we'll ever see a governing body established to protect investors one that uh just make just make suggestions like all projects should be audited and if they get a certification no i don't see any governing body i think i think crypto is the absolute um epitome of do whatever you want freedom is key and uh yeah people just don't care um so we're gonna see hype cycles that's just the way it is i don't see i don't see this place cleaning up until regulators do come and then at which point yet again when regulators when regulators come crypto will be like yo you can't regulate this so it'll be a funny dynamic going forward but i don't i'm not optimistic i think maybe like 10 years ago i was like maybe like we should push for that but then i'm like this year i'm like you can't fight human nature you know human nature is that they always want to make ridiculous amounts of money they hear a story like oh 30k to 1.5 million oh my god and then they just go crazy fomo so obviously it's all about strategy i think no one i think the worst part is that people don't teach us about formal that the emotion can't take over and for me it's always like that's what 2017 taught me i did i jumped into a bunch of projects that i probably shouldn't have luckily i didn't talk about it on this channel um and that was the case you know um you know fomo fomo gets the better of us and it's just learning how to deal with that and can we magically become better investors more strategic strategic thinking over time over immediately no but over time yes and that's what yet again box mining channel is all about we've been talking a lot more about strategy not financial advice of course you guys have to make your own strategy and this is why in many cases i give the tools to you you can do whatever you wish with it but i'm still going to talk about these tools so anyways guys are you effing kidding me bitcoin will crash to 7k do it i hope so i hope so it probably won't happen but i hope so i still have money to buy in if i if it does crash so lol i i would i wanted to crash but something tells me that it probably won't for some time that's my two cents i think a lot of people are like freaking out right now but for me yeah like i said stable solid as a rock for my huddle i took some money out that's great you know i can now buy some cool stuff with it um at the same time i'm pretty deep into d5 or crash maybe if it does and i lose everything i don't mind it won't be nice but like i never put more in than what i can lose uh okay last question i'm taking here is kel nafa says why fi token economics why if i meant it for staking words and then they get sold back to the se to pay further rewards for those who are farming and this is a cycle that drives the fight and also demand yes there's ponzinomics saying there i think daryl lao pointed this out very very early on and i think i have a i have a tweet about that where yeah you you buy it's it's ponzinomics right there's uh you buy the coin to get more farm and you farm for more coin um that circular logic reason so i think was daryl oh i don't have the quote here and technically the the token has it's a andre who created the token you know it's initially meant to be a zero supply zero financial value token but what's interesting is now that you get you can stake your wi-fi to get your um home you can stake it so if you go to the fee rewards you can go here to collect to stake your wi-fi and then get even more rewards so it's like you get you get to vote and you get fee rewards so it's already been implemented i'm actually quite scared at how fast they move um i was like is everything audited that was my first question so anyways um beyond that am i am i feel farming yes absolutely am i holding wi-fi um only the wi-fi that's required to hold for the pools three and two and three so pools two and three require two percent hodl on wi-fi and you have higher rates there so that's kind of hopefully that answers your question um karen kailen nafa says this can't be sustainable right absolutely not um and in fact it wasn't very stable stable when i first started wi-fi farming it was around a thousand something percent annual percentage yield now that has drastically dropped um it's reached a point where it's only 300 at some point for pool number one throughout this week and i expected to drop a little bit further but right now because of all the hype all of a sudden i think the community right so we were talking kind of about this very early on on saturday sundayish level where the yields were crazy because the assets under management was not very high but now everyone's just throwing hurling cash at this like all of a sudden it took off to become mainstream right so now everyone's hurling cash and the wi-fi the demand went up but do i think it's sustainable not really to be honest i kind of compare this to early coins when it gets launched so we saw that with membo wimbo uh the two member wimbo coins beam and grin so those two coins when they first launched they were at enormous hype levels and prices because there was such low supply but because new supply was being mined every day and being shoved on the market you know how do you maintain that momentum was very difficult and this is why grin lost a lot of momentum last year in terms of people talking about it there was a lot of hype but right now i mean who talks about grin anymore the tech is a pretty amazing but yet again because it wasn't stabilized uh once it went down in value it lost momentum and people just got out so that's kind of doing it um but anyways that's my two cents not financial wise blah blah blah um um robin monkey says i love the ym community thank you for recommending it michael awesome um if you made money thank you guys awesome um that's great but yet again understand that there was a lot of risk and i know wi-fi community probably hates me for not you know being a hodler um i still haven't state governance yet i might do this weekend and tell you how it guys um it goes but anyways i've been enjoying the farming so far and participating i did vote so i guess if wi-fi community asked me did i vote yes and that did require me to lock up my pool three for a while so anyways um that's pretty much it thank you guys so much for watching uh this i know this is a shorter episode in fact it's still quite long um we're gonna do another live stream on next monday so we'll check that here monday 11 a.m hong kong time let me put the stream up i know youtube's been a little bit wonky recently in fact for the last few months so they don't always tell you when it's live stream unless unless you do sign up and you click the remind me button on the next live stream so we're gonna have a follow-up we're gonna talk more about d5 we're gonna talk more about what's going on so why not next episode is definitely about d5 let me let me create the event here so you guys can sign up and get to that so let's put that here boom drop that d5 bitcoin and cryptocurrency update d5 first now huh d5 first all right let me send that into this live stream right here uh putinski says d5 d5 pluto's d5 you show what happened to the launch the launch got delayed and i didn't show it i was talking about what it was about please get your facts straight uh but yeah it's next week on monday uh jose gomboa says he's leaving to use a 19k a week um yeah i took around two percent out right so that's a that's like not two percent about 10 percent out so yeah that's around 2k probably not not 19k a week because it dropped the yield dropped around 6k right now everyone's just jumping in so yeah uh just like an engineer you cannot stop talking anyways i'm i'm pushing i'm pushing this one i'm pushing this one this if i'm if i'm shilling anything i'm shilling my own live stream that's coming up uh oh it's wrong link guys wrong link wrong link wrong link live stream this this is the shipping link um why what something went wrong why youtube and tell me if the potenski says i love the word got showed got you triggered yeah it's super much man like i survived 2017 everyone's like so angry um 2018 rather 2018 2019 everyone's so angry it's like you shiller yeah i'm super triggered by that but you know that's just me anyways that's that's the link guys that should be the correct link going forward boom drop that down um miss missus even if you sign up it's not coming to email the the the i did release newsletter zero to everyone for the box mining newsletter so i have to double check if it's getting in if it's not getting in do tell me that the newsletter is not getting in but i will give you guys updates on that all right yeah that's pretty much it boom all right guys have a fun weekend i might do another stream if you guys are interested in anything um i know i'm spending a lot of time on this anyway so anyways guys have fun enjoy actually i'm actually just gonna go out i'm gonna go down to genesis block today gonna check out meet meet up john it'll be fun um buy some stuff on the outside been looking at more stuff to buy if you guys have any cool stuff i got a camera recently that was fun haven't used it at all which kind of sucks um just like this this camera is like the most expensive decoration we have right now um yeah it cost me like what 2k um and it's just sitting here it will be used somehow it'll be used i just need to change the lens so i might get a new lens for this it's like that's probably my next purchase just buy one of a better lens so you can have another angle here but this is like a cinema camera which i don't know that's gonna be fun right anyways guys oh free will says does uh does life make you happy or does money make you happier okay last last rant last run of the day i kind of i cannot ignore that question money makes you happier to a certain extent um like if you're poor then it's gonna like life's gonna suck for you because it's gonna get abused by everyone who's rich um yeah but then at a certain point when you become too hungry for money it also makes you sad oh well all right all right guys that's the most philosophical i'll ever be and with that guys thank you so much for watching make sure you a get the podcast all right well i want to learn how to point at this get the podcast that's great and also um get up for the live stream that's coming up on next monday anyways guys thank you so much guys see you