Bitcoin, DeFi , Yield Farming, and Ethereum Update
Description
Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analy...
Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analysis to give you full coverage of the crypto space. Find out the latest developments in DeFi and yield farming. 0:00 introduction 0:47 Sushiswap ($SUSHI)/Ethereum/gas prices 10:45 market recap 11:00 Ethereum/gas prices 16:11 Sushiswap ($SUSHI) explained 22:15 Pylon Finance 23:23 YUNO risks 25:03 Hacken ($HAI) 30:58 FTX Exchange 31:51 OIN Finance ($OIN) 32:30 CREAM Finance (CREAM) 33:52 YFValue (YFV) 38:18 What does the team do with liquidity pool funds? 45:44 DEFI.money ($YFII) 48:20 Serum DEX (SRM) 50:20 RAMP DeFi 52:16 DEFI.money ($YFII) 53:40 Falconswap 54:49 YF Link ($YFL) 1:07:04 Harvest.finance https://podcasts.apple.com/podcast/boxcast/id1490037766?l=en Spotify: https://open.spotify.com/show/5iHcN9jfQwpKTbT37tS0zQ ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● 🍖Buy & Sell Crypto: https://join.swissborg.com/r/michaeOQZM 🔎Crypto Prices: https://www.coingecko.com/ 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave 📲Binance Exchange : http://boxmining.co/binance ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining Official Website: https://www.boxmining.com/ Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel Facebook Community: https://www.facebook.com/groups/CryptoSpartans/ ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Instagram: https://www.instagram.com/boxmining/ Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining Steemit: https://steemit.com/@boxmining ●▬▬▬▬▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.
AI Analysis
Hey there! So, this video is a whirlwind tour through the current madness of the crypto world, especially focusing on Ethereum, DeFi, and the explosion of yield farming. It’s clear that things are moving at an insane pace, almost to the point where it feels "broken" because it’s so fast and seemingly irrational, yet incredibly profitable if you play smart. The main takeaway is that DeFi has completely reshaped the crypto landscape, challenging traditional centralized exchanges and creating wild opportunities (and risks!).
Here's a breakdown of what's going down:
* The Unstoppable Rise of SushiSwap ($SUSHI): This new project, aiming to be a decentralized exchange like Uniswap, has gone absolutely wild. In less than 72 hours, it got listed on Binance, which is just unheard of! SushiSwap currently has over $1.3 billion locked in its pools, which is a huge amount of capital.
How SushiSwap Works (and why it's a bit "Ponzi-nomics"): To farm SUSHI, you provide liquidity to existing Uniswap pools (like ETH/USDT), get Uniswap Liquidity Provider (LP) tokens, and then stake those LP tokens on SushiSwap. The idea is that in the future, you'll need SUSHI tokens in addition* to your two assets to provide liquidity on their own exchange, essentially creating demand for SUSHI.
* Personal Experience & Risk: It was farmed 5,000 SUSHI in under 72 hours, selling some at $7 and $9 before it shot up to $10-$11. Despite the excitement, it’s stressed that this is incredibly risky and feels like a bubble, urging people to manage their risks extremely well because you could "lose your entire house."
* Ethereum's Insane Gas Prices & Network Congestion: Ethereum is experiencing record-high gas fees, with transactions sometimes costing over $126 for a single smart contract interaction. This is because Ethereum works on a bidding system: more people wanting to use the network means higher fees for your transaction to go through faster.
* The "Gas Wars": This bidding system leads to "gas wars," where only "whales" (people with a lot of money) can afford to participate in many DeFi activities.
* Bull Market Indicator: The crazy high gas fees are seen as a strong sign of immense usage and a burgeoning bull market, even before mainstream adoption.
* Solutions & Temporary Nature: While painful, these high fees are considered a temporary phase. Solutions like Ethereum 2.0 (expected late this year or early next) and off-chain scaling projects (like Fuse, Casper Labs, SKALE) are actively being developed to address this. Guides are available for fixing stuck Ethereum transactions, which is super helpful given the current network state.
* Market Recap: Ethereum Steals the Show from Bitcoin: While Bitcoin is pushing $12,000 and still the "juggernaut," Ethereum is undeniably the "superstar."
* Why Ethereum is so Valuable: Its value isn't just about technology, but also its strong community and the fact that many early adopters and "whales" accumulated vast wealth in ETH. These whales are now fueling the DeFi boom by actively farming and using protocols like Uniswap.
* Yield Farming: High Rewards, Higher Risks:
* Yuno Finance (Extreme Caution): Some projects offer insane rewards (five-digit APYs!), but carry extreme risks. Yuno Finance, for example, reportedly hasn't burnt its minting keys, meaning the creators could theoretically mint infinite tokens and dump them, wiping out value. This is why smart contract audits by companies like Hacken are crucial.
* Pylon Finance: This StarCraft-themed mining pool uses standard contracts and avoids impermanent loss (where the value of your staked assets changes relative to each other, causing you to lose money if you withdraw at a different ratio than you deposited). Still, contracts are unverified, so caution is advised.
* CREAM Finance: This is a "hidden gem" that lets you lend and borrow various crypto assets. It’s praised for its power, listing coins faster than Compound, and even paying you to borrow, which is pretty mind-blowing.
* YFValue (YFV): Saw "redonkulous gains." A personal anecdote highlights a friend who bought $450,000 worth of SUSHI with YFV, turning a huge profit as SUSHI shot up. This illustrates the wild, high-stakes opportunities available to "whales."
Harvest.finance: This project is an "alpha leak," starting soon, but it’s not audited* and uses non-standard contracts, making it extremely risky.
* What Happens to Liquidity Pool Funds?:
* SushiSwap: When you deposit LP tokens for SushiSwap, the funds are simply held by the smart contract as proof of your liquidity provision; they aren't actively used by the SushiSwap team.
YFI/YVaults: In contrast, projects like Yearn.Finance (YFI) and its YVaults do* actively use deposited funds. They employ "strategies" to automatically yield farm other currencies, acting somewhat like a decentralized bank to generate returns for users. This is seen as a more strategic, albeit lower-yielding, way to participate in yield farming.
* DeFi's Impact on Centralized Exchanges: This is a game-changer. DeFi, particularly Uniswap's automated market-making model, has "completely blew apart centralized exchange business models." Projects no longer need to pay exorbitant listing fees; they can just list on Uniswap and provide liquidity.
* The "Chasing Game": Centralized exchanges like Binance are now frantically listing DeFi projects to keep up, proving that DeFi is currently leading the innovation race. Even FTX, a major centralized exchange, is building a decentralized exchange (Serum DEX), indicating where the industry is headed. Serum is incredibly fast but still a bit complex to use.
* Unlocking Value Across Blockchains (RAMP DeFi): RAMP DeFi is an exciting project that aims to unlock liquidity from assets staked on different blockchains. For example, you could stake Elrond, keep earning staking rewards, and then collateralize that staked Elrond to mint a stablecoin that can be moved to Ethereum for further DeFi activities. This addresses a major current limitation where assets on chains like VeChain are "stuck" and can't be easily used in the broader DeFi ecosystem.
* YF Link ($YFL): This project is described as "absolutely crazy," building a swapping platform that combines elements of ThorChain and "Black Hole Swap" technology. While highly speculative, the team is praised for its rapid delivery.
* Personal Risk Management & Philosophy:
* It is vital to manage risk carefully, as crypto is an extremely high-risk game. Personal strategy involves never touching fiat, having a significant fiat runway (7 years!), no debt, and diversifying investments with things like gold.
* Gains made from high-risk plays are now being used to fuel further risk-taking, creating a self-sustaining cycle.
* The importance of personal responsibility and financial education is emphasized, highlighting how traditional education often fails in this area. A vivid anecdote about people choosing a Snickers bar over a one-ounce gold coin illustrates widespread financial illiteracy.
* Transparency in the community is encouraged, with a rule to declare the price at which you bought a coin when discussing it, to foster honesty and avoid shilling.
* Despite the exhaustion from constant monitoring of the fast-paced market, there's immense gratitude for the community's support in navigating the crypto space.
Overall, the video conveys an atmosphere of exhilarating, albeit risky, opportunity in the DeFi space, where rapid innovation is challenging established norms and creating unprecedented wealth for those willing to embrace the volatility and educate themselves.
Transcript
Alright, so we're online guys. Welcome back to another episode of Box Mining. This is a super special episode It is actually the first of August well, it's almost it's almost midnight for me over here. It's 1140 But I thought this is a great time to stream just to catch up with you guys on everything that's going wild up here I think I don't think I'll be able to sleep without doing this live stream It's to a point where I really want to chat about everything that's happened today Asian markets...
Alright, so we're online guys. Welcome back to another episode of Box Mining. This is a super special episode It is actually the first of August well, it's almost it's almost midnight for me over here. It's 1140 But I thought this is a great time to stream just to catch up with you guys on everything that's going wild up here I think I don't think I'll be able to sleep without doing this live stream It's to a point where I really want to chat about everything that's happened today Asian markets were just crazy. I mean throughout the whole day. We saw aetherium just pushing up up up and more up We saw the introduction of more farms. I mean sushi sushi the sushi that we're farming for the past less than Less than 72 hours honestly less than 72 hours sushi got listed on Binance already already What? What? What? This what insanity is this? I mean I don't even know what to say at this current point. I think Yeah, I don't think I even understand crypto anymore. It's just the whole insanity of this this I'm broken guys. I am completely broken as to just how fast things are moving in this space and And also just how it I would say irrational how irrational the market is But that's crypto right you just just have to like just be happy I Mean that's a key right I was farming sushi. I got sushi. I showed you guys screenshots on Telegram I held it this time Smart thinking smart thinking Uh, so I think I farmed around 5,000 sushi Over the past 72 hours Um, sold some at seven so some at nine now sushi is what like? Like something ridiculous Um Let's see It's like ten bucks Why is it ten bucks? I don't know and you know the craziest part about this I'm not I don't I don't want to show sushi to end I mean this is okay look look before we start guys Um as of every episode here These are first-hand accounts of what is happening crypto is beyond logical explanation right now Um play at your own risk all right there is nothing logical nothing Clear about what is going on i'm not a financial advisor not financial advice I mean You can lose your entire house here. All right, that's um, I manage my risks pretty well Some people don't manage your risk pretty well. I don't want anyone coming to me and be like boohoo. I lost tons of money here It's possible and there is definitely a hint of a bubble here. All right, I think there's be a Beyond a doubt that Uh, there is way too much excitement and euphoria here But at the same time it's about how to manage your risk and you know no one can teach you that apart from yourself Okay, so teach yourself that teach yourself that okay? Uh the aisle so you know what the crazy part about um sushi is so this statistic here so In sushi right now there is 1.3 billion us dollars locked in sushi right now 1.3 billion 3 billion dollars billions billions you know that guy who says that billions upon billions upon billions of dollars locked in sushi Uh, that's ridiculous. I mean if you think about it What is that that that that that is like? If you look at ethereum's market cap, right? What? I mean I mean it's like almost like 5% of ethereum's no 2% of ethereum's market cap locked in sushi Isn't that ridiculous? How ridiculous is that? And I think a friend pointed this out because the ethereum usd pool is one of the largest pools out there Because so much ethereum is locked Right the theory is that because so much ethereum is locked It's so much easier to pump ethereum So guess what happened today? Well ethereum pumped right we have this giant a push Um, so today was roughly let me just see if I can just put this to uh one hour That would be much easier for you guys to see it So roughly roughly speaking let me just change to um Uh, so roughly speaking at around 4 a.m. UTC boom We see that giant arrow pushing up and then another giant arrow pushing up for ethereum So all of a sudden two things a lot of people are just noticing ethereum is getting so much use right now If you look at the gas fees, uh ethereum gas station right now Those fees are a little bit insane So it's 477 way to send ethereum um transactions on ethereum So when I was doing farming today just like recently I've been posting this up all day on twitter but um Gas fees are ridiculous. It's redonkulous Like it's to a point where I just don't know what's happening like Uh, let me see how much was that? Yeah, so this is one Such a douchebag courage So yeah, so this this is one of my transactions A hundred and twenty six dollars per transaction that just gets burnt up that just gas that gets burnt up like That's how much ethereum is being used is congestion the way Cryptocurrencies like ethereum and work is that it's a bidding system The network can only handle a certain number of transactions per second Which means if you want your transaction to be processed Then you have to pay a higher gas fee than everyone else Which is where the firm the the term rather gas wars comes in Where people would just keep throwing money more and more and more and more into this gas fee To make that transaction more expensive So now only really whales can play this game I mean if it's costing like a hundred and twenty six dollars This is not just for transactions is for interaction with a smart contract But you guys get the picture. It's kind of ridiculous right now So yeah, um, we just touched four hundred seventy seven It's kind of crazy Um, but you know that's life And if you guys um are looking to If you guys have a stuck transaction If you guys have a stuck transaction If your transaction you sent it it's not going to go through Check out this guide I have a guide right here On how to unstuck ethereum transactions Fix stuck ethereum transactions This video is like it covers everything From like how to find which transaction you're getting stuck Using nouns, advanced features to cover to cancel it It goes through all the stuff The stuff that you're getting stuck The cancellation process step by step So yes, you can cancel a transaction You can also speed it up Also if you have multiple transactions stuck You can also fix that too So guys check that video out If you guys are stuck That is kind of the most helpful video now If people ask me that question I was like go boom Send people that It's just the way it is So um I also have a DeFi playlist up now If you guys are interested in decentralized finance I mean I'm pretty sure you guys are all into decentralized finance by Finance by now But I do have that playlist It's been constantly updated About what I think about DeFi And everything going on there So yes Um You know just check that out And BJJ says I had five transactions pending Was able to cancel First one nice tips Exactly That's what it's for So making sure you know A lot of people just get stumbled Because especially when MetaMask screws up It just doesn't tell you Where your transactions are And people are just all lost That video is all for you I'll just put that link up just again Um This is why I make videos To help people I mean I'm glad that it's finally getting some use Um Just unstuck in transactions There was another one Advanced MetaMask guide tips Those are two highly recommended videos right now Especially Just because of how crazy Ethereum is Um Definitely check out the videos So I'll just throw that down there So we'll talk about sushi today We'll talk about everything else Um There's definitely a lot of speculation on the market A lot of people asking for price predictions You guys know the rule here I don't offer financial advice And you play at your own risk right That's the craziest part There's a lot of irrationality But I'll tell you a very cool story With a friend that literally made 500 ETH today I know In one single day In one single afternoon too So it's pretty darn insane So anyways guys That's today's episode Let me guys Um You know before we start these episodes I'll run you through some of the things I'm doing recently So just before we start Let me put on my advertising voice And be like Yo check out this So recently I've been publishing a lot of videos Ramp Defy Super cool project OIN Super cool project We got Hash Toshi Interview Super super cool there We also have updates We also have live streams right now So if you guys wanna know when live streams are typically on Mondays and Fridays 11am Hong Kong time It's kind of the flip side Um That's usually when things are on But guys If you guys are part of the notification squad Basically click the subscribe button down below Click notification Be part of our squad You'll know these surprise live videos I keep you guys up to date When really exciting stuff is happening That's when I'm there I'm just there To just share with you guys What is happening So make sure you smash up that notification Swap bell Also we have a free newsletter On box mining So I'm not sure a lot of people notice But we actually Have a pretty decent newsletter So we actually kinda keep this hidden But we're gonna start charging money for it In the coming weeks But if you join now You're gonna get locked in for free So make sure you just go check the newsletter out That's absolutely phenomenal We've been writing pretty much all the updates Lots of insights on that Free for now And you get locked in So if you sign up now You get locked in And lastly of course You got Bitcoin out of the box I still have to upload some episodes on But some really great episodes coming on Bitcoin out of the box Trying to do as much as I can right now To guys fill you guys in The whole objective of Bitcoin outside of the box Is that it's more of a podcast format So you can just take it out with you on the go When you're going for a run Or et cetera You can just listen Get up to date on crypto That is kind of the case right now So anyways, let's go straight into the markets So we have Bitcoin already touching 12,000 right now So at this moment Bitcoin is still So it's moving pushing up higher It's almost about to touch this line here So this line I drew this as What I was going to call the golden channel So golden channel Bitcoin wasn't really moving too much For the longest period of time And because of that That gives the perfect climate For all the altcoins to grow Because when Bitcoin is really pushing up A lot of altcoins They just get drained Like a lot of people FOMO into Bitcoin Everyone's been watching Bitcoin Everyone's eyes are on Bitcoin right now So whilst Bitcoin is the juggernaut It is still kind of in this channel Maybe not for long I think there's a lot of momentum going on right now But Ethereum is definitely the superstar of the day today So Ethereum just like It was 400 for a while But yeah You know what? People decided Ethereum is getting a lot of use And a lot of people are just wondering Why Ethereum has so much value It's not the fastest network But all the projects are being built in Ethereum Because it's one of the first And also it's where a lot of wealth accumulated So I think this is one aspect that a lot of people don't realize Because a lot of people are in Ethereum early A lot of Ethereum whales exist in the space And whales are just getting richer and richer and richer Especially with the past two months I mean, who else do you think are Yo farming like crazy? Also playing Uniswap like crazy Like Uniswap has just taken off completely in the past few days Not a few days, first few months, right? With the amount of value stuck in Uniswap going up and up and up A lot of Ethereum whales are here A lot of people are rich on Ethereum This is why Ethereum has a lot of value as well It's not just about the tech But also about the community as well And obviously a lot of people are definitely excited for Ethereum 2.0 That's coming out very soon Well, kind of They're doing the mainnet They're doing the testnet They're doing the testnet right now And they're hoping to deploy mainnet by end of this year But, you know, as with all things go As with all developers say I always take that with a tiny grain of salt Just in case there's some, you know, kind of hiccups along the way Maybe it'll get delayed until early next year That's a possibility for Ethereum 2.0 But, yeah, we're looking at ways to scale Ethereum There's also other ways to scale transactions off-chain I've been talking to the guys at Fuse They've been building communities And they're doing off-chain transactions Obviously Casper Labs We're talking to that Scale, S-K-A-L-E They're trying to do scaling as well We also have like a bunch of these projects All trying to scale Ethereum 2 So, I mean, that's the kind of case And then we have blockchain 3.0 out there as well So it's like a ridiculous amount of development Is being put into this So if you guys are worried that transactions are expensive right now It's really a temporary phase That's the way I want to describe it Like, right now, obviously I think a lot of people are complaining They're saying no one can afford these gas fees You know, it's just getting more and more ridiculous Especially if you want a yield farm You want to stake into a contract Or inject multiple coins into a Ypool, for example These would be quite expensive at this current point And that's just the way it kind of is right now So, unfortunately it is But it also goes to show there's so much usage of Ethereum I think now, all of a sudden I mean, this is even before the public General public even gets in, right? Like at this current point We just have crypto people Mostly crypto people with a few more people going in But if you look at gas prices It shot up from around 30 Gui To 100 Gui I thought that was expensive 200 Gui I thought that was super expensive And now almost breaching 500 And I posted this on my Twitter as well Where I was talking about the last time We had such an insane spike So if you look at it So when Ethereum gas prices have all risen up Look at the times when it's all risen up, right? So this was kind of late 2017 Early February, like January-ish 2018 This is when Ethereum was $1,600 Like this is when the peak of activity here Went up at crazy And we are well beyond that right now So I'm like, whoa, what is this, right? This is just absolute insanity I thought this is kind of like the sign that the bulls are coming With so much usage on Ethereum And we're just at the beginning, right? I mean, I'm happy to be in crypto right now Absolutely ecstatic to be in crypto right now There's so much money being made It's ridiculous, right? Obviously there's so much money being lost too But if you're smart about it You should be pretty good So we got jetlag for two Welcome to OGKing Thank you so for joining Congratulations, obviously you made it off well Thank you for supporting the channel as well Big shout outs to jetlag for two And we also have Mark Thank you so much for your $5 donation Mark asks if He can figure out if sushi farming is still profitable I'll talk a little bit about sushi I'll talk about what else I got into today I'll talk a lot about filming Not filming, farming Can't pronounce properly So anyways, let's get straight to the yield farming business Let's get straight there So sushi, sushi time Sushi, sushi, sushi swap.org So sushi, what is sushi? Let me just go very quickly Sushi, what they're trying to build is another equivalent of Uniswap So it's like With this race of Uniswap becoming super popular With millions upon millions of millions of dollars being locked in Uniswap Actually in fact billions There's Uniswap competitors and sushi swap will be one of them So far they haven't launched yet So the interface is just to distribute sushi right now But the way it's supposed to work in the future Is that if you deposit liquidity into a pool You need to also deposit sushi as well That's kind of the token use case So not only do you need to inject liquidity with two assets But you now need a third asset, sushi And the reason why is because now you can retain some more value You can lock an additional value There's a lot of kind of game theory economics behind this But that's kind of the use case Sushi swap will eventually be an exchange just like Uniswap And the extra here is that in order to lock liquidity You also need sushi And also after locking liquidity you'll get some more sushi It's just kind of how it works There's definitely a little bit of Ponzi-nomics going on there So just be watchful of that But anyways, farming sushi is what's happening right now There's no exchange, it's not really built yet It's still in progress, etc, etc Let's go unlock my wallet if I can ever remember my password Okay, there we go So sushi, what it does is it displays your annual yield on the screen So when you look at all these farms It displays the pools that you have to deposit on Uniswap So these, when you farm sushi, you always need the Uniswap tokens So it's like the reason why I guess the reasoning behind this Is they want people who are using Uniswap to start migrating So they're targeting specific users of Uniswap that provide liquidity to Uniswap And as such, that's why you deposit or stake Uniswap liquidity tokens Now, so this, for example, let's say Tether Turtle This is the USDT slash ETH farm So how you will go about that is you go to Uniswap So app.uniswap.org, I'll put this out there I'll put all the links down on the bottom But how it will work is you can go to Pool Add Liquidity And then you have to select the pool Select the list So let's say That's just one thing for now But let's say USDT here And now you have these two assets You have Ethereum and USDT And this needs to be injected at a 50-50 ratio So let's say, for example, you want to add one Ethereum worth of liquidity You also need to have $480 worth of USDT in the same account So now you can click max, like for example, like this And then you can start injecting that liquidity into the liquidity pool So long way of explaining it, it is just, that's how it is I don't have enough USDT balance So you must make sure that both sides you have enough So I actually don't have any USDT on this account So I can't really show you guys But anyways, you just click whatever Add Liquidity And then you're good to go Then you get the Unit Swap Liquidity Tokens So once you do this step You'll get your Unit Swap Liquidity Tokens Then you can go on SushiSwap Select this Approve this Then add the tokens on The moment you add the tokens on You'll start to see the Sushi Earn Counter increase That's just, yeah, I know I want to show you a better example of this But, you know, that's kind of the case right now But you'll see this increase to verify that you're doing it correctly A lot of people, they don't, they just deposit liquidity and then don't do anything Yeah, you gotta see the Sushi Counter increase in order to know that this is successful So anyways, that's the kind of current case right now So people are asking which pools I'm in or what to do I'm actually very big into the Ethereum pool Just because I hold Ethereum and I have USDT So there we go, that's easy And you get 800% APY Yeah, so annual percentage yield I'm also in, basically I threw all my other coins in here So I'm also in the Umami Squid I'm also in Bandosaurus I'm also in Toady Marine I'm also in Ample Chicks I'm also in Ava Boar I'm also in Synthetic Snake And I'm also in Wifey Whale here So I'm also, like pretty much, this is why it takes a lot of time for me to process stuff Basically, I went on Binance If I saw, like, this balance lying around I just pulled it out and dropped it into these pools here to start mining So, yeah, that's why it took like a long time on Sunday Was it Sunday? Yes, it was Sunday So I went Sunday, did it bit by bit I actually, at that time, I didn't realize that Lend has a pair and Synthetic has a pair So I was actually in Ample, I was in Toady, I was in Band But I forgot about Ava Boar and Synthetic Snake So this afternoon, I realized, oh crap, I had money sitting in Binance with both Ava and Synthetic Snake So then I had to pull that out, confirm these contracts It cost me roughly, like $300 to do that today To just like add the liquidity, supply it into these pools It was very expensive You have to actually like, now, yeah, it's just expensive So you have to think very clearly beforehand what you're trying to do You must make sure that all the assets that you have, you know, they're all there So you can add the liquidity, etc. You must make sure you don't screw up, of course, obviously And just execute and just bite the bullet It's expensive, that's just the way it is, right? It's unfortunate So I'm in this right now, I'm in Sushi I'm also in Pylon So Pylon Finance is a StarCraft-themed mining pool So right now, I think What's kind of cool with these guys is that the contracts are pretty standard And also they don't pair it up with anything that has impermanent loss So I threw Ethereum into here I also threw some Synthetics into there I also put YA link in there So, yeah, so I played around a bit with Pylon With these, none of these contracts are really verified I feel unsafe talking about it But at the same time, that's what I'm doing So this is the first kind of account of what I'm doing I definitely don't recommend it in any form or the other I'm just retaining and saying that I'm trying it out And I manage my risks really well So like, if I lost everything in Pylon, that's fine If I lost everything in Sushi, that's fine It will hurt, but it's fine Alright, so just, guys, be extremely, extremely careful going forward here Be careful So a lot of people are saying about Yuno I really don't want to mention this Because the rewards are insane I saw some screenshots of these ridiculous rewards Which are in the five digits But, be mindful of one thing These are also liquidity pools But, the only difference here is that Yuno has been confirmed To not have burnt their minting keys Which means that you run the risk of the creator of Yuno minting like a trillion coins Dumping that on the market and just saying, yo, peace, thanks guys, thanks for all the fish So just be very, very careful I saw a lot of people link this I don't want to fund it It might be the case that they can burn these keys And they can convince the community that it will be okay But I don't have the balls to farm this Like, I don't have balls of titanium, apparently So, yeah I know these numbers are huge I'll be sad if it does, you know, if I miss it But, yet again, you know, that's just the way it is, right? Some people have balls of titanium I do not right now Especially since I'm going to sleep soon So, like, if I'm, like, I guess some people that can monitor at 24 hours They probably also have wallets to monitor what happens if there's infinite mint going on Possible, possible But, or maybe it's absolutely useful But I don't know Like, a lot of people are asking me, like, the whole day today Have you checked out Yuno? Have you checked out Yuno? Have you checked out Yuno? Have you checked out Yuno? I have definitely not the time to validate all these smart contracts I would definitely refer them to a smart contract auditor That's why I'm, like, in contact with Blackken all the time I'm like, yo, guys, you guys probably have the most business in the world right now Hacken is a company that I checked out before Full disclosure, I bought some Hacken, like, very, very early on And they do smart contract audits Like, they're some of the best hackers in the freaking world And I wanted them to take a look at it, but they have not done anything yet So, just, you know, it feels sad to be left out like this Like, I see these numbers, I'm so tempted, but, you know what? I'm refining for now, you guys can do whatever the hell you guys want Huyo Nugin says, you look tired, take some rest for Michael Yeah, absolutely I mean, there's just too much money to be made to take a rest right now Like, I was describing myself, I was just saying, even on Monday Like, it almost feels like I'm in a dazed state Like, crypto right now, because I'm working so hard on it Just everyday looking up new stuff, looking at different on-calls as well It's insane I mean, I had a call with Kira Protocol today Super cool project, doing a DEX Absolutely awesome Had a call with Fuse today Really cool, I really like Isaac Yeah, joining their advisory, actually I haven't announced that yet, but now I have So, yeah, really, really cool stuff with Fuse going on What else I have a call with? I have a call with a gaming company I can't really say that much details about that right now Had a call with a plotting company Like a data company Yet again, NDAs apply, so I can't really say that much right now But I think I took around, like, five hours of calls today Looked at a bunch of mining contracts Yeah It's like this day just flew past Just, like, completely blew past me So, yeah Jose Gamboza says He's planning to rest whenever the bull market ends Absolutely, but whilst it's here right now I don't plan to rest I'm, like, so jealous I go on Twitter I see people just taking photos of their vacation Or just the outdoors or anything I'm like, oh my god, I'm almost in tears I'm like, holy crap, man I've been shut inside just, like, answering calls all day And it's brutal But at the same time, you know, stuff gets done And this is kind of funny as well People are saying, you know, with these ridiculous gas fees, etc. You know, crypto is a repeat of the real world Where the rich just get richer And the poor just stay the same Yes and no Crypto, something that's kind of interesting is Obviously there's a lot of whales And I met a lot of whales in my life as well People just have millions of dollars Millions is nothing to them, right? They're always talking about, like, the 1% within the 1% Apparently the 1% within the 1% rule the world And it's just kind of crazy, right? And you hear stories of those 1% after 1% And, you know, they have container trucks filled with a billion US dollars Like, in cash, just lying there Like, this is how rich people are, right? In this world But anyway, so you hear these stories And something that's kind of crazy about the real world Is that people who are extremely rich They also created barriers so that no one else can get rich Right? Whether it is a financial license Think about how many people can buy a financial regulatory license To be a registered bank You know, if you just can't walk in and say Yo, I want to be a bank right now It's just not possible But on Ethereum, you can start coding stuff that Well, look at Wifi Look at all these new decentralized finance projects that just popped up They are way more transparent than what banks are doing They offer pretty much amazing services I mean, even just shoutouts to CREAM as well I've been farming CREAM endlessly And something crazy about CREAM is that it's super powerful Like, you don't understand how powerful these things are until you start using it Yet again, this is not my main account I use to mine everything So you see all zero balances But on my main account, I was supplying REN BTC So I can pull out Ethereum to speculate to start farming I was, like, doing some crazy-ass stuff You can pull out LEND as well So if you want to pull out some LEND If you want to pull out some Balancer MTA to go yield farming Well, here's your opportunity to do so Obviously, it incurs risk But the kind of crazy thing is, if you deposit, say, REN BTC You get some reward for supplying You also get rewards if you're borrowing as well So you actually literally get paid to borrow stuff, which is insane I talked about this in my compound video But, you know, that's the current state of DeFi right now, you know Yeah, that's just kind of the case So, anyways, yeah Session All says, hey, Michael How do you profit an asset price going down during yield farming? Well, it's actually quite hard If you ever want to profit in an asset going down, just short it So, yeah, so you can absolutely take a contract on something like FTX And just short the crap out of an asset But, yeah, you can, it's extremely powerful There are so many powerful tools right now In crypto, that you can, you know, if you're smart You can make multiple plays and then protect yourself And then, boom, you're pretty much good to go So, you know, that's pretty much the case Also, FTX has become my mainstay exchange now It is the most powerful exchange in the world I know a lot of people are talking about Bybit I never bought into it I'm not that biggest trader I didn't promote Bybit for, you know, the longest time Even though a lot of YouTubers are making like a redonkulous amount of money off Bybit It just wasn't my thing, right? Last year, I'm like, you know what? I'm not trading actively on it I don't think it's the safest thing to do But recently, yeah, FTX, dude, it's like, it's just next level It's like, holy, next level So, if you guys want to join FTX, I have a referral code to that I used it, but it is also extremely dangerous So, you know, please, please be safe No, don't be a, don't be an idiot Do you see what is going on? There we go Yeah, don't be an idiot Someone asked me to talk about OIN Finance So, yesterday, they had a very, very successful public sale I did not manage to get in So, that's OIN Finance here Here, that's your video Go check it out If you want me to talk about it That is already released But with OIN, they pretty much did a public sale It got like, I think, 15,000 people submitted applications for it Within like, 10, 15 minutes Only 300 got to get the public sale So, congratulations on anyone who has gotten that Asandras86 is How do you find these gems like sushi or cream? Cream was lucky because I knew Jeff from 2017 This is Jeff Huang Jeff Huang I knew him from 2017 And he does some crazy stuff He's one of those serial entrepreneurs You know, it's one of those people I really value and have on my channel And also, to be able to just talk to And yeah, he's also, you know, very, very well off He's, he practically, you know, Jeff Huang, he did like so many movies in the past He does, he does entertainment business He did a bar I mean, you can see the interview with him So that was direct from him Like, I'm asking, oh, what projects are you working on? So he told me about that And then I told you guys I started mining Very, very early on, you can mine cream Cream's doing actually really well today, too I think it's like, I actually think it's still quite a hidden gem Everyone's looking at the Y projects But people forget that cream has so much power Like, they're listing coins so much faster than compound And yeah, they have such a good community as well It's kind of crazy And you can mine with balancer and unit swap pool So I'm actually quite deep into cream right now Full disclosure, what not Super, super deep Yeah, I'm in pretty much everything right now I'm also in YFV, so if you guys want to mine and farm in YFV as well YFV also has some pretty redonkulous gains Especially if you're in a bat and a ren pool So these two pools I'm active in The ren and the bat pool Also YFV went up pretty crazy in the past few days as well So yeah, and they also got listed on OKX today as well So just like a ton of news going hip-hop through Like boom, boom, boom, you know, like It's kind of crazy, so Yeah, that's insane And it also goes to show, you know, like I wonder, like, you know, should I just like It's kind of crazy because like The story of YFV was that I talked about it around here It went up and then it crashed a little bit down There was a little bit of FUD And during the FUD wave I actually bought some YFV Because I thought, you know, there's just no way There's this rational FUD, right? So that was like at $7 I was kind of stupid, so I sold it at around $18 I'm like, I doubled up, I'm pretty good But who would have thought it'd be like at $70 today? I think this market is just crazy I'm not sure how this world works anymore You know, I make money, but it's like Could I have to pay more? And here's the time to tell a funny story too So I'm in touch with a lot of friends who are very deep into crypto So one of these friends, he said, I bought A thousand YFV worth of sushi today This afternoon at $7 I'm like, what? You mean a thousand sushi, right? No, no, no No, no A thousand YFV worth of sushi That's like $450,000 worth of sushi at that time I'm like, what? Are you crazy? Insane? And then obviously I'm pretty sure the guy didn't know it would get listed on Binance But anyways, quickly, very quickly after that Listing on Binance Sushi shot up to $11 Boom, this guy was like, yep So all that sushi made off with 500 YFV I'm like... Balls of titanium Yeah, I guess that works too So, you know, definitely not recommending that It's just a story, okay? It's a cool story But definitely Definitely not saying that it's something you should do at this time Alright, just... Obviously this person is also a whale Like... Like... Like... Like a thousand YFV is nothing to them You know, like this is the crazy part Right? A thousand YFV, what? It's like $1,000 Pshh Like this world is messed up And you know, I think... Yeah, I'm pretty speechless to be honest To be honest But, you know, that's just the case Ran J says You ran out of Fiat yet? So, the kind of crazy thing about this whole bull run Is I actually have not touched my Fiat That's kind of crazy, right? If you think about it I actually took some crypto out But I actually have not touched my Fiat to go in I'm not sure if it's discipline or insanity But I always feel safer with a pile of Fiat Just in case something goes wrong Because I have expenditure here as well So, recently I'm building up my team I have to have, you know, real spendings I have, you know, IRL spendings as well And I told you guys I roughly have a 7 year runway Probably a lot more than that now But, I have a 7 year runway in Fiat So, in case things really hit the fan You know, I'm still protected Crypto is still more speculative than Fiat I know a lot of people are like, you know Bitcoin the standard and stuff But, you know, sometimes you still need to live, right? So, I have Fiat I also have some gold So, I'm quite a lot more diverse And I know I don't talk about this all the time But I want to reiterate to you guys I don't have any debt I don't, you know, owe anyone any money I Fiat You know, I don't I'm not risking my livelihood here And I think a lot of people do that They take on loans That's just not cool, right? So, yeah Eric says Eric says In yield farming Sushi What do the team do with the liquidity pool that a user deposit in traditional banking They usually invest Or do something to make profit on the deposits That's a really great question So, Sushi, they don't do anything So, Sushi, you just deposit those LP tokens And it's just a proof that you provided those tokens And those tokens get kept by the smart contract and nothing happens So, this is the case of Sushi because they're bootstrapping their project They're just distributing these coins out These coins may be valuables coins in the first place And this is where this whole thing gets a little bit crazy It might be just valuables coins We're all speculating over nothing But yeah, on Sushi, they don't do anything But when it goes to Y So, all the Y vaults And this applies to both YV1, YV2, YFV And also some things with YFL as well Just to start off They actually do something with those funds So, in vaults, they use it to mine other currencies with that So, those funds are used in yield farming to become a strategy So, this is the case with YFI and the YVaults A lot of people have been talking about this And that's kind of one of the purposes of YV So, vaults Just making sure I don't find the YVaults Probably can't really spell anymore So, anyways, so YEARN.Finance So, this is the vaults So, if you go to the vaults, if you save here, they give you a rate And this actually gets used to farm various coins So, just kind of like a bank So, yeah, so this is probably one of the easiest ways to get into cryptocurrency yield farming The rates are lower, so what everyone else is doing right now, they're hyper aggressive, hyper risky, could lose everything But this is a little bit more strategic where the vault manager decides where those farms go and they go into certain strategies Okay, so yeah, that's Okay, so yeah, that's There we got Jet Jet Like, for two, says, stop shilling your bags, University of Positivity Keith Chambers says, wow, that's some story about the 1000 EVE I think a lot of people, they are extremely aggressive It's kind of very interesting because when I grew up, my family is extremely conservative My mom's a prof, so, and my dad's in education as well They both have very stable mindsets They are like, okay, we want to take government positions Or, you know, if you're a prof, it's technically like a government position, universities, government institute, right? So, public university, teach there Very stable salary, loads of vacation time And that's what I wanted to do, right? When I was growing up, I was like, oh, stable is great You know, my parents have a very stable job They're very risk averse They plan everything out very strategically And my mom got a lot of vacation days Which I'm like, oh, I should be a prof I was like, halfway from my PhD Before I realized that's not for me And then I realized, okay, look I had a bunch of other friends that are extremely embracing of risk So, a lot of people you meet in crypto are extremely I guess, they like the risk They can tolerate the risk And that's how a lot of people got very rich, right? If you're in crypto very early Let's say in Bitcoin very early There's very much a lack of information about Bitcoin And you must have some sort of crazy mindset to invest in Bitcoin So, a lot of Bitcoin OGs, Bitcoin whales They are extremely They have a gambler's mentality They love risk But you have to remember though That there is a lot of survivor bias here I talk to a lot of people in crypto And those people are all survivors If they're not survivors, they will be dead, right? So, they're the people who took a gamble And the gamble paid off But there's also, for every success story There's a million failures So, you just have to remember that But I'm kind of realizing that in this world That risk is part of life, right? And you gotta be able to take some risks sometimes And I'm getting myself more adjusted to that So, in many senses You know, that's why I kind of posted this up So, yeah, so like don't speculate on farmable coins Stay safe, and then also me going and FTX And just buying sushi at $11 and selling it at $11.50 And actually this was a sale that was much later There was another trade that was at roughly around $9 When I first saw the Binance listing Like the second I saw the Binance listing I just went on FTX and just bought a bunch of sushi That paid off pretty well But you know, that's life, right? That was like an opportunity that I saw Okay, maybe I can make a play here Because it just got listed on Binance The price wasn't pumped too much So, just boom, $9 Take that upside up to $11 and call it equates So, yeah, that's not cool, I guess It's not something I want to promote Definitely But also, it's something I did So, like I said, I want to be honest with you guys It was an opportunity that I saw And that worked out pretty well But at this point, I'm really playing with the gains I made off sushi anyway, so Anyways, that's how I'm justifying it anyway, guys So, um... A lot of people were asking about the Telegram channel So, the Telegram channel I'm going to keep closed until Monday Just a lot of huge influx of people So, roughly 150 people joined the Telegram group And a lot of people are still getting used to the rules We want this Telegram group to share information We don't want to share pumps That's kind of the way it is And I think some rule that I saw that was very clear That worked very, very well in Telegram groups Is that you must declare what price you got in a particular coin at That makes it much easier for people to gauge where you're at So, if you bought... If you're shilling a 50x coin Very obviously, you probably bought it at, you know, very cheap Shilling it to the group Want to create liquidity There's always people who want to do that But if you declare it, people have a more better understanding of where you're at Why you feel the emotions that you do And that makes a lot more sense And I want this to apply to this chat too So, if you guys are wanting to show a coin Or talk about a coin Or talk about your favorite project Do declare what price you got it in at So, that's kind of important We got Na said It says, do you have FTX links? Sure, if you guys want to play with FTX It's super powerful FTX is just going to rule the industry from now on It's just pretty clear Yeah, it's just Sam is a genius There's no one else who can beat Sam Like no one else who is smarter than Sam at this point Like FTX is just going to eat Binance's lunch In fact, Binance actually invested into FTX So, you know, they're not going to eat Binance's lunch They are Binance Or maybe not fully Binance, but Binance has a bit of that pie So, anyways And also, congratulations to Wifi2 for listing of Binance as well You can see that the speed of listing right now is extremely fast I tried to ask around if, you know, any of these projects paid for listing They all said no So, this is kind of crazy, right? Because back in the day, back in 2017 Centralized exchanges were the shit, right? It was the craziest stuff I mean, if you want to trade on decentralized exchanges Okay, go have fun in IDEX Because it's just the performance sucks ass on IDEX, right? And no one's on IDEX And it's just total, absolute garbage Like, IDEX has the worst experience I've ever had Like, I've tried on IDEX before And like, all Like, if you put orders up, they also always get cancelled And it was miserable So, centralized exchanges like Binance, KuCoin, OKX You know, all those exchanges Okay, maybe even Coinbase, right? They had all the power Because, you know, where else are you going to go? But now, this year with DeFi Because Uniswap is just so powerful Because you can have this automated market making Because you can market make any coin Because there's so much liquidity on Uniswap Projects don't give a crap anymore They just listen, Uniswap inject a large amount of liquidity inside Good to go And that has meant that there is a significant challenge to centralized exchanges So, if everyone's asking, you know, is DeFi a bubble? Well, hell no, DeFi just completely blew apart a centralized exchange business model That's so powerful It just completely toppled over one of the biggest cards that Binance and OK and Huobi has Now, decentralized exchanges are frantically listing all the DeFi projects Like, Binance is just so aggressive They're like listing everything, right? Last week, BZRX got listed Last week, Teller got listed Last week, like, I mean, there's a whole list, right? Wifi was listed very early on Today, Sushi and Wifi2 They're chasing They're chasing the DeFi guys The DeFi guys are the leaders right now Centralized exchanges are behind That's life, and you know, that's why When you see Sam from FTX making also a decentralized exchange You know what's up, you know what's up You know that's the future, right? Like, this is this final year where it just finally swapped over I mean Binance made a Binance Dex It just didn't get as popular because of the rules But now all of a sudden with, you know, Uniswap here and all of a sudden with Serum on route In fact, Serum's been built already Project Serum, you can actually start trading there right now Yeah, it's just insane It's just insane But Serum is still a bit hard to use I was trying to use it today There's a link to it, just give me a sec Serumdex.prum.com It's actually really fast, but You have to learn how to use the solid wallet I tried using it today It's super, super fast It's a proof of demonstration of this working, right? I mean the fact that they built an exchange so quickly It's utterly insane But I have high hopes for Serum I definitely have high hopes for Serum So someone was saying Bruce Explorer Philippines says The day before yesterday sushi was $3 Now $11 a day Yeah, that's crazy And Hien Nguyen says CZ is smart to chase If not, he is done, absolutely And I think There's this rumor going around That CZ just raged completely at his listing team Right? He got caught with his pants down Literally, right? He didn't see this whole DeFi thing going on And this is the thing with China, right? China didn't really feel that DeFi is so important So they kind of just say, ah, DeFi, ha, ha, ha D4's got hacked, e-losers Smart contracts, so risky, so risky Don't play this And then they were like, oh, maybe NLT Gaming for now I'm like, okay, cool, gaming That's why Binance, if you saw them The Launchpad project on Binance Was Sandbox, which is a gaming style game And I think gaming still has a lot to go for it But DeFi really took off this year Right? Just absolutely Just obliterated this It just wiped the entire board, right? If you're not in DeFi, what the hell are you doing? Right? You know, DeFi just took off like crazy And because there's actual good functionality there too Like all of a sudden, you know I just completely changed the scene with how projects list And now with even more stuff I think that one of the promising things about RAMP I was talking to you guys about with RAMP And one of the things that's exciting there Is that you can unlock value in different blockchains now So literally with RAMP, they're talking about IOST They're talking about Elrond So if you're staking Elrond, you're on Elrond chain Normally you can't do much with it, right? But with RAMP, you can stake Elrond Keep staking, get your staking rewards Great, and have the Elrond exposure And then you can also collateralize that Get some USDT, a stable coin Not USDT, they have their own version of a stable coin And then move that to Ethereum And that's like so powerful, right? This is like absolutely crazy Just unlocking liquidity on different blockchains I mean, I told you guys, I'm in VeChain That is the one project I have not touched at all You know, this season I tapped into my Ethereum By collateralizing that And minting DAI on MakerDAO So Ethereum, I used that Unlocked the potential of that Ethereum Right now, BTC I also moved that to RenBTC So now it's a wrap Bitcoin on Ethereum So I can start mining on YFV What about my VeChain, right? Why is VeChain still stuck on the VeChain network? Why can't I like collateralize this? Like that should be someone's project Someone should be doing that right now Collateralize my ETH Still let me run my X node So I don't break anything And then move that out, right? It's crazy, it's crazy So anyways, that's life PateraSoul says YFFI The fork of YFV going crazy Absolutely, man, I saw Like I was mining YFV, YFFI When it was like 200 And it just went straight down It plummeted, right? I actually lost money there I still kept some YFFI tokens So now I kind of gained that back But just be careful of impermanent loss That is actually very, very possible Especially when everyone's excited right now That's the time to be a little bit cautious also Or, you know, just make sure you're good So be very, very careful So PateraSoul says, yeah, 350% pump in a day Just be very careful with everything that pumps, guys Yeah, that's not always a good thing, right? You know, that's life, right? You know, it depends on how you play and how you chase Typically, I don't like chasing a craze right now Usually when it's going up like parabolic That's always a little bit of risk A little bit of risk there So, anyways Yeah, that's pretty much it PateraSoul says, box money, I love you I love you guys too, just stay safe I mean, at the end of the day I just want to cover my ass too I don't want people crying to me and saying they lost the house or whatnot You know, this is a high, high risk game Like, stocks are high risk This is like, just a whole new level of high risk, right? So, be very, very careful I'm obviously euphoric, which may or may not be a good thing You know, take it as you wish Yeah Jaja Binks says, do you think Uniswap will move to OMG for lower fees? It's unlikely There's a lot of projects already trying to do Uniswap But outside of, you know Like people were talking about FalconSwap, right? They haven't even built a product They're like, oh, talk about FalconSwap Okay, I can talk about what they're trying to do But, you know, they're trying to build a scaling solution for Uniswap But, you know, have they delivered anything? Nope, but are people super excited about it? Are they super excited about it? Absolutely Absolutely, they are And that's the kind of the issue right now, right? Is this gonna be something real? Or is this gonna be vaporware? Who knows right now? This is the kind of crazy thing about crypto A lot of people are like, oh, open your telegram group You know, let's... Soon, soon, soon, soon Please, please wait, please, please waiting Please waiting, please waiting Yeah, it's hard I just wanna make sure that the group stabilizes before we open it up again So, Monday Monday, Monday, Monday It'll open on Monday, guys Yeah, so... Wait for the Monday stream, you know It'll open then, and then you are gonna be good So, if thoughts about YFL I think it's absolutely crazy YFL, what they're doing Like, a lot of people don't realize this Many do not realize this I'm gonna use that quote Many do not realize what they're building It's absolutely insane So, they have two teams Team 2 is building a... Essentially, also A swapping platform like Uniswap But also with black hole swap technology It's absolutely crazy Like, the stuff that these guys are capable of doing Like, over the period of a week or two weeks It's just absolutely crazy So, you know, kudos to YFLink And, you know, congrats on just delivering on something that... You know, like, when I first read about YFL I was, like, a little bit suspicious I read the paper, and they're thinking, oh, what if we can just make a YFL YFL iClone for Link guys, and they'll be cool But then they assembled this amazing team And they're delivering something that's absolutely crazy Yet again, highly speculative But, you know, I'm loving it so far So, yeah, ThorChain And it combines aspects of ThorChain And it combines aspects of Black hole swap Pretty darn insane We've got Balmer Crypto 2.0 It's like ICO 2017 again Over again And BitConnect, if people partake in anything crypto called sushi, spaghetti, cake, pasta Deserve to lose it all Greed is alive And wealth still in crypto Whether or not they deserve to lose it all Like, you can You know, but Yet again, 2017 made a lot of people rich A lot of people changed their stars So, you know, control your risks You know, be smart And you'll be pretty well off 2017, I... You know, before 2017 Before all this crypto stuff I was working on a very low paying job But with the promise of equity I was managing a large part of the company I was actually managing people below me But the pay was low, right? Because it's equity based So, promised with equity, promised a profit share in the future Making video games And I thought that was going to be the best thing in the world But the actual pay was super low, right? You know, I burnt more in gas today than I think my monthly wage back in 2016 Luckily, I still have some crypto Luckily, I said... That's kind of funny I found Bitcoin in mining accounts Just small amounts Little amounts Just like... Before, you know, when you're too lazy Like when you're mining and you're like, Oh, it's a few cents, I'm not going to move it out of this account Well, I went back into those accounts I scraped up a little bit of Bitcoin Then this whole thing just blew up, you know? So, you can... You can actually make a lot of money in crypto But you can also lose it all, so... You know... I always never really wanted to tell people like... How crazy it is Because people are just going to go nuts over it But... You know, this year, I'm going to be a little bit more honest But at the same time, you guys manage your controls I do not want to hear anyone telling me Oh, look, I lost my house I'm in credit card debt and all that stuff And, you know... And crypto goes in the bear market for two years And then people just start crying or something Like during the two year bear market I was telling people, I can survive for seven more Bring it on, I don't care You know, that's how well I manage my stuff So, yeah... Just take that as it is You know... Yeah... So... Bomber Crypto 2.0 says 2017, many didn't warn people to be smart But... You're grown ups, dude Like, people tell me that now Like, oh, people never told me Like, you're a freaking grown up If you don't get... Like... If you don't understand what's going on And you risk everything Like, you gotta... Like, you gotta live up Like, I'm one of those guys who think like You know, the governments They try to protect us Maybe there's good reason for it But at the same time, we gotta just grow up And take responsibility, right? Um... The public education system actually does a really bad job Of teaching people how to manage their finances Like, it's just an absolutely terrible job at it So, that's why a lot of people end up Just not understanding anything Right? So... Yeah... That's kinda funny I know... I mean, yesterday I was watching a video about gold Right? There's this guy who was giving out, you know This one ounce gold coin So, he was like making a YouTube video He was like, oh, I have this one ounce gold coin And a Snickers bar And he went out on the street and asked people what they want This one ounce gold coin or a Snickers bar And then like, everyone that was interviewed on that show Did not take the one ounce gold coin They just took a Snickers bar I'm like... I wanna punch you guys so much right now Like, I just wanna teleport there Punch you in the face Take the goddamn gold coin, idiot Yeah... But, you know, people... People who don't know how to manage their finances Tough luck, right? Uh... Within a heartbeat I would take a one ounce gold coin over a Snickers bar Even if it's possibly fake, you know Oh... Alan Bonsuk says... Um... Schools are shite on purpose And I think so too I actually think so I think there is a bit to that I mean, I read Rich Dad Poor Dad Um... You know, he has this whole thing about You know, being a... Like his Rich Dad Poor Dad And how Poor Dad things And a Rich Dad things And all that There's a bit of truth to it Obviously, he monetizes that off like crazy You know, he probably is partially right But at the same time He just monetizes the crap out of what he's partially right with Um... Yeah... Like you gotta learn how to be smart yourself, right? That's the hard part of all this Um... You know... Um... Yeah, it's hard But you know, I wanna share this with you guys You guys have to be smart yourselves I can't teach anyone how to be smart, right? But... Um... I'm glad to have this I've like always said I'm glad to have this channel I really appreciate this journey And I think, you know, at the end of the day If I didn't make this channel I don't think I would've went all in on crypto Like 2016 I saw that I saw Bitcoin I was at around a thousand-ish A thousand six hundred-ish, I think Let me actually get the prices right So... So like I really re-entered back into crypto Like when I said I tapped into those mining accounts For a little bit of scrap bits of Um... Well Bitcoin, right? So that was like 2016-ish End of 2016-ish So... Um... That was like hundreds of dollars Like hundreds of dollars, right? And it was still worth nothing Maybe like three, four hundred dollars And at that time I made box mining for fun, right? I started off with mining I thought, oh, maybe I can share some mining tips I always just started mining a little bit of Ethereum I still had my 5850s So AMD The old generations, you know With the four digit Um... Graphics card codes Yeah, I still have one of those, right? So... I had the Radian 5850s I started mining a little bit again Getting a dollar a day Getting some Ethereum Um... But I shared all that on this channel And you guys were immensely helpful In helping me understand what this is Because as a newbie going into crypto It's so daunting It's so daunting You hear a lot of people making money But you can hear But you know those people who are making money Are savagely destroying people who are losing money, right? Um... And crypto is savage It's absolutely savage Like people will go home crying Uh... Luckily, because of this channel Because of our community here I did not go home crying I understood About Bitcoin Understood about How to manage that properly How to have my own accounts Um... So very, very lucky I'm very lucky So I owe a lot to you guys here So really, really thankful for that Uh... We got AG... AG Jetons 2005 Says... 58705850 Man, those were... Those are great I mean, they sound sometimes like jet turbines Like those graphics cards But they're still great, man It's absolutely ridiculous Um... Okay, so... We got... Asandrius86s Um... Where do you find new info on DeFi projects? So... Actually, I talk a lot So... I'm in Karma DAO I'm in DuckDAO Um... I recently just joined DuckDAO So now it's one of these things Where you just have to pay to get information So with DuckDAO Um... You have to actually buy the DuckDAO token Um... Put that on account And then you can join the chats To get information That's pretty much how to get information these days Um... You also make a lot of friends Um... So friends from 2017 are really helpful Because... Usually the projects they are interested in Are not total trash That's a problem right now Like... Um... There are so many trash projects That are being listed right now That it's so hard to filter through that trash So... Yeah... It's not easy But... Anyways... Um... Um... Yeah... People are asking what to farm I mean I farm everything Um... You guys have to make your own decisions So I'm in Sushi I'm in YFL I'm in Pylon I'm in... Um... Pretty much everything I know there's also Harvest. Harvest.finance That's an alpha leak right there I don't know if the staking contracts are safe by the way It starts in two hours Um... Yeah... Will I stay up for it? Maybe... Maybe not... But apparently there's already a million dollars being deposited there So... I love you guys I love you guys This is just insane So... Um... Maybe I'll... Maybe I'll be there... Maybe not... Who knows... Um... Yeah... Um... Angela wants to say I'm seriously hoping Mike is kicking his chair Cause I see it out of the corner of my eye And it's moving on its own Really? Really? Yeah... I was... I was kicking it, yes... I was kicking like this... Um... So you can see that right there on the bottom corner Yeah... So I was... I was like moving my foot there So... Yeah... It's not a ghost chair It's not a ghost chair Angela It's... Just relax... Everyone calm down Um... So yeah... A lot of people are asking about... Uh... The telegram group... I will... Okay... Look... I'll do this... Alright... I'll do another like... Spontaneous stream... This week... Um... You know... Be on that spontaneous stream... I'll open the telegram group... You know... I'm not trying to be a dick here... We have to weed out... All the spammers... And then... Um... Just to stabilize it... So yeah... Um... There you go... So anyways... That's pretty much it for today... Um... You know... I hope you guys enjoyed this episode... Um... It is... I'm 25 right now... Why is my mic... Okay... It's working... So... Yeah... So be logical... Be smart... Um... Yeah... Uh... Have fun... Enjoy Coca-Cola... Hopefully... We don't crash and burn... But I'm actually quite hopeful... Um... This has been... A pretty good journey... If I lose everything today... I'll be fine... Um... But preferably not... Ha ha ha ha... Preferably not... And guys... Sign up for the newsletter guys... Um... Yeah... Boom... Newsletter... Tomorrow... Tomorrow... Tomorrow... Tomorrow... So yeah... So... Um... You can sign up for it today... Um... We're gonna release the... The newsletter tomorrow... Hopefully... Um... We're getting more people... We're getting more people... Working on the website... It's been great... Um... If you guys wanna sign up for YFE... I also have a referral code for that... Um... I'll just send that to you... Here... It's here... Um... That money will be used to build the website... So... Uh... Thanks all for... You know... Uh... Farming with me... I'll put that here... Um... That's pretty cool... Um... So if you guys wanna join YFE... I'm in... I'm in the Bat pool... I'm in the Ren pool... Um... The W... Wrapped Ether pool... I was in... But I moved out of that... To go on sushi... But I think the yields are roughly around the same right now... So anyways... It's a great time to be farming... To be honest... It's a great time to be farming... But yeah... So... Harvest... This is not audited by the way... Harvest.finance... I'm not promoting it in any way... Um... It's... It's starting soon... Some guys told... I talked about it in the channel... It's not audited... It doesn't use standard contracts either... So just be very very careful guys... Um... Yeah... Be really careful... Um... Yeah... Anyways guys... Thank you guys so much for watching... Uh... I think that's all I want to talk about... Nothing much... Nothing much more... Um... Yeah... That's pretty much it... Secretly hoping MTA gets listed tomorrow on Binance... That's my secret hope... Hopefully... We'll see... We'll see... We'll see how that goes... Um... Everyone's talking about that... But yeah... Check out the videos on the channel... Pretty tired... Gonna sleep... Actually gonna sleep today... So I'll find you guys later... Have fun... Enjoy... Peace... Peace... Peace... Peace... Also... Jose says... When Mood shots video... I'll do one soon... I'm just like so tired... I... I love these live videos a lot more... Because I can just finish it... And just click the end stream button... And call it a day... And you guys all get entertained... But... Uh... Yeah... When I make a full video... Then it's just like... Oh... It's just long... And tedious... And editing takes ages... I also have an upcoming video with Player... So... Um... And... I'll do one more guest as well... So... That's upcoming... So make sure you guys click the notification squad... Really, really great insights over there... And... Yeah... It's gonna be great... So... Goodnight... Goodnight from Melbourne... Melbourne is really late... Right? It's a... It shouldn't be really late right now in... Melbourne... But... Anyways... Like... A House of Cards... Says... Stephen Fu... Absolutely... And this is why I'm so tired... Is that you're gonna... You're like... You're constantly watching... And there's gonna be a lot more tools for this... To be more helpful... But for now... Yeah... You just have to spend effort... Effort is money... So... Anyways guys... Um... Thank you guys so much for watching... See you guys... Later...