Defi VS NFT, Yieldfarming, Bitcoin & Cryptocurrency Update

What is the error here? Data, screen, just making sure everything is okay. That should be all right. So let me just double check, go live. We are going live, guys. We're making sure everything is starting out. So you are live, guys. So welcome back, guys, to another episode of BoxMining. I just have to make sure that I'm live because YouTube is a little bit super wonky this morning. But thank you guys for tuning in. Today is not a normally scheduled episode, actually. Today we're having an impromptu live stream episode yet again because there's so much happening in crypto right now. It's absolutely insane. And we're going to focus, we're going to set these live streams up so we focus on a particular topic. And today that topic is NFT, so non-fungible tokens. And I got a lot of people very triggered by this tweet. I said, why would I buy an art NFT for $30,000? No, I'll Google the image, download it, and set it as wallpaper for free. I just wanted to trigger a few people yesterday. But in the topic of discussion, because right now, why we're all discussing non-fungible tokens is because people are viewing this as the next big thing. So we know that DeFi, this wave is hitting us right now, right? A lot of projects, DeFi projects are just taking off, going to the moon, 10x, 50x, whatnot. But a lot of investors, they're kind of fearful. They're like, okay, when is this DeFi wave going to be over? What's the next wave? And a lot of people are talking about NFTs, non-fungible tokens. And in fact, if you look at it, Binance is listing sandbox, which has to do with NFT and land sales. There's a lot of talk in China. And this is where the East and West meets West narrative comes in. Where China, they don't really care about DeFi. They're just like, NFT is the next big thing. We talked about that, not just with CZ, but also with the CoinGecko guys, too. So if you're in Asia, you're kind of feeling, okay, look, what's really with this NFT wave? Is there any credence to it? So we'll do a little episode about DeFi versus NFTs in today's episode. And we're also, today's episode, we're also going to look at what's happening on CoinMarketCap. So, well, not CoinMarketCap, CoinGecko, rather. But recently, prices for Bitcoin and Ethereum has fallen a slight bit. People are quite worried. If you look at it, we're dipping below 12K. I'm smiling when I'm saying this. Dipping below 12K. I mean, 12K was almost unimaginable like six months ago. But anyways, and we've got Ethereum almost touching 400. So we'll take a look at the markets, what the take on this overall scenario is. And we'll take a look at the news as well. Because on the news, we have quite a lot happening with Ethereum competitors. So a lot of Ethereum competitors are coming out, including Algorand, saying, you know what? All of this stuff that's done in Ethereum, that's very expensive for people. We can do this cheaper. Our network is faster and cheaper. So we'll look at what's being announced with Algorand and with kind of a lot of the other Ethereum competitors that are kind of shining at this current point. So that's all for today's episode. If you guys are in, just remember, make sure you smash up those likes. It really does help the channel, especially with these kind of unscheduled views and scheduled videos. It really does help support this channel. And I hope you guys like it. I've been doing a bit more of these, mostly because it just saves my time as well. I'll be honest, super honest here. Recently, I've been spending a lot more time on the investing front. Assets under management has gone up. Total value locked has gone up for my personal stuff. So I'm always on the edge when it comes to researching and being in the cryptocurrency space. I'm in over 100 chat groups right now. People are like, oh, how do you find these projects? How do you find what's going on? I'm just on and I'm not wasting any single time debating politics or anything with people. I'm just efficiently finding out as much as I can efficiently as possible. But that also means it cuts down on my video producing time. If I make an offline video, if it's a very short video, nice, cut, clean, it takes quite a bit of time. So unfortunately, I have to balance my work-life balance here. So we're trying to do more live streams recently to catch up to give you guys the latest news. But down the flip side, of course, is that it won't be as edited. So it will be a little bit longer for you guys to watch. But I hope you guys enjoy. I hope you guys smash up those likes. Thank you, Notification Squad, for jumping in right here. We already have 100 people on this unscheduled live stream. Make sure you guys share also a little bit as well. Thank you guys so much, so much for the support. And before we start, of course, I want to tell you a little bit about my podcast in the most commercial voice possible. So let's check it out. So we got Bitcoin out of the box. It is my podcast. We have, we're talking to different founders about what is happening in the cryptocurrency space. This is where you get the insights. And a lot of these insights we did way before everything else. And I think that's key to crypto. It's not just asking questions. I think I'm being bored, senseless, just asking people the same more questions. Really, what a founder interview is, you're going to get a feel for what they are like as a person. And if you listen to Jeff Corday, because he's got so much energy, you know, if you look at TrustSwap, it just blew up after this interview. And that's important. That's getting the tone, getting the sense of the feeling, getting the energy. It had its key in crypto. So that's something that I'm watching out for. So you can hear this on podcast. Not all interviews on here are available on this YouTube video. So make sure you check it out. It's called Bitcoin out of the box. Check it out on Apple Podcasts, Spotify, everything that has podcasts. It's going to have Bitcoin out of the box. All right, guys. So let's take a look at what's happening on the market just to give the kind of commentary of what's going on. Yes, we are dipping. We dipped a little bit, especially for Ethereum. We almost touched 4,000 people. We're freaking out. I saw a lot of people just a little bit concerned and worried. Here's my take on it. So right now, we're entering almost a new bull market. I'll say this is a bull market for me anyways. There is a lot happening. But also, when we're just entering that bull market, there's a lot of volatility. This happened 100% in 2017. In fact, there were flash crashes in 2017 that brought Ethereum to zero. Let's go Google that up. Go Google the Ethereum flash crash. It brought Ethereum to zero on Coinbase exchange. It's crazy. There were these moments where things were set up properly and it just went straight to hell. And we're going to see that. We're definitely going to see that in this space. So yes, I am preparing for a potential pullback of maybe 20-30% in one day. If you're not mentally conditioned to do that, I guess you better should be. At least be mentally ready. This space is extremely volatile. It's not going to be a straight arrow from there. Not financial advice, obviously. Nothing on this channel is financial advice, not a financial advisor. But personally for me, I've been preparing for that. I've been preparing for that. I'm not having any overly leveraged positions. You know, for me, yield farming more has been very great for diversifying what I have. And we'll talk about yield farming too. We got a lot of questions about yield farming. All of a sudden, everyone is like picking this up. When we talked about this ages ago, we were there for the first one. We were there for YFee. We were there when YFee distributed $200 million of market cap in over seven days to people who farm. I'm laughing all the way to the bank right now. So anyways, we're here early. We'll talk about it. But obviously, I think this is something that you got to at least learn. Because a lot of projects, a lot of white papers I've been reading, they're all going to distribute tokens to yield farmers. That's not just like a momentary trend. And this is going to be something that's very, very heavy in crypto for a long time. So anyways, beyond that, let's take a look at Bitcoin as well. So Bitcoin, why people were a little bit afraid in terms of market was because there was a rejection. So we passed $12,000. We saw that Bitcoin was moving within this little channel here. I call it the golden channel because whilst Bitcoin is stuck in this channel, all the altcoins are going crazy. It's the crazy altcoin market. If Bitcoin doesn't move too much, if it stays very stagnant, all the altcoins are out of play. That's what's happening. Bitcoin is like the big cat that carries everyone. And then when it's like, you know, kind of sleeping, all the mice come out like, it's fun times. So this is kind of what was happening. But towards on the 17th of August, so we saw the spike up. Potentially Bitcoin was going to make a run to $14K, $15K. People were talking all of a sudden, where can Bitcoin go? Right. But there was a sharp rejection. We got this rejection coming down here, crashing down back into this golden zone again. So my take on this is that, yes, we were slowly moving up. And I feel it's kind of interesting as well. If you look at the Wall Street cheat sheet, right? I think we're all in different stages. Shoot. Like we put this question up again because this is like the most infamous chart in the world, right? This is where like, okay, where are we on this chart? Where are we in? Okay, so we saw this exact same pattern almost during the 2017 bull run. But now when we're reentering this, right? When we're reentering, where are we? Are we in hope, right? Are we in hope here? Are we in optimism, belief, throw, euphoria? I mean, people are definitely concerned. If we're hitting euphoria, then obviously there's not much room to go up. So this is why this question is so great. This is why people always get also get so triggered when people ask this question is because where are we on this chart? And I think it actually differs with where you are as a person, where you are in crypto. I mean, we've got the Bitcoin maximus, the people who only believe in Bitcoin. People feel like I only want to touch Bitcoin, everything else is a scam. I think they're actually at hope. So for everyone that's just ignoring the altcoin space, they're at hope. Because Bitcoin hasn't really moved that much, to be honest. Relative to everything else, if you zoom out quite a bit, Bitcoin hasn't even gotten to the crazy parts yet. It's been rather tame. It's been sitting inside these channels for a while. I don't know why this loading is so slow. I mean, my internet shouldn't be bad either, right? But anyways, so Bitcoin itself, you know, yes, sure, it did drop all the way down to $3,000. Yes, I was lucky I managed to pick some up before when I was telling you guys, yo, you know, don't lose hope here, right? Moved up, sure. But did it really move up that much beyond what was happening in January? No, not so much. So yeah, I think we're still at hope. We're still very, very early on. And especially if you look at the political climate right now, I was talking about this. This political climate right now in this world is super messed up. Like this whole US-China trade war, people banning other people's bank accounts, like this country's very hostile to each other, will need a way to transfer currency internationally. That's the beauty of Bitcoin. No one's going to be able to freeze their bank account. No one's going to be able to say, no, you can't transfer that for that currency. You've got to report to this now. Your keys, your crypto, right? Especially if you've got a good memory, you can memorize 12 words. I think this is something I've got to train soon. If you can remember those 12 words, if someone comes, smash your ledgers. You memorize those words, destroy that, you're good. No one else can take your crypto, right? That's the power of Bitcoin. Those 12 words are key. And that's why it's 12 words rather than long digit, right? Okay, so that's the power of Bitcoin. No one can suspend it. You can't, Donald Trump can't just call a bank of Bitcoin. There's no bank of Bitcoin to call. He's like, what's the number? There is no number. Right? So even she, she's like, what's the number? Call the Bitcoin guys. Suspend these accounts. Who's this Satoshi guy? Find his number. Ain't going to work. So that's the power of Bitcoin. And I think Bitcoin, we're still early on. But obviously, once we're early on, there's going to be volatility. Now, next up, I think with the altcoin space, we're in thrill. So I honestly think that right now in the whole altcoin space, Uniswap dumpster diving, I'm going to be honest with you guys. There were a huge amount of returns. I actually came into that quite late, to be honest. The whole Uniswap thing, you know, I got in a trust swap, right? So that's great. That's great. You know, getting trust swap on the market, that's great. You know, trust swap, six cents, all the way up to $1.30, $1.50 right now, whatnot. But at the same time, there were so many people before me that got very, very rich. I've seen those DeFi chats, and they're just like very early on, boom, you know, a little bit, probably like three, four weeks earlier than me. Crazy. And they're at the point where I'm thrilled. And this is one of the reasons why I say this is because a lot of people, they've been looking at what's being offered in Uniswap right now. And this is like, you know, people who've been for 2017 are like, you know what? This looks worse than 2017. Like these projects, like we're at means right now, right? We're at like pork chop, pasta, like what's the long-term value of all this? Like sure, if you mine it, you can make some money, all right? But in terms of long-term value, who knows? So anyways, I think that's to say where if through Euphoria, maybe there's a little bit of pullback wave and then maybe it can grow a bit because I do see that the DeFi space has been bringing more value as well. So we can't discount that too. So this is the reverse argument. DeFi actually brought a lot of value. So, and this is where I think it's best time for us to move into that DeFi versus the NFT space argument. Because I've been having this argument with a lot of people. I've been on phone calls. I've literally called people for three, four hours a day, different people. And a lot of the discussion centers around, hey, okay, what's next? And all like, what's the value that DeFi is bringing? Because if you talk to the Chinese side, if you talk to the Asia side, people are very, very skeptical about DeFi. Why? There's a lot of skepticism. Because like I explained earlier, with DeFi in China, they tried to take that DeFi wave earlier. They tried to do that. There was the DeFi hack. I'm sure we all read about it on the news here. But people in China were directly affected by this. Where one of the smart contracts got breached into. People's total value locked. Almost got stolen, right? In fact, it did get stolen until the security guys found the hacker and said, you know what? Give that back. All right? Give that back. I don't know. I don't know what else they can say, but I don't think I can say it on YouTube. But anyways, that's why they're very skeptical. Because people were burnt, right? But the interesting thing about in the DeFi space right now, there are substantial changes that DeFi changed about the whole landscape. First of all, they tackle directly centralized finance. Yesterday, we had a great talk between CeFi versus DeFi. If you look on a BoxBinding channel, it was between Orion guys and KuCoin girls. Sorry. Girls. Orion girls and KuCoin girls. That was great. And so this was a great video to watch if you want to watch that. The CeFi versus DeFi. But I think one of the things here that's kind of interesting with Orion as well is their protocol. They can just use it. They can directly tap into the liquidity resources of centralized finance. Bring that onto the platform whether or not the exchange wants it. Very, very interesting. But the whole case about DeFi and what makes DeFi powerful is that it woke up all the centralized finance exchanges. All of a sudden, every CeFi exchange is dying to list a project. All of a sudden, before in centralized finance, you know, Binance, KuCoin, whatever, whatever exchange, they were charging very, very high listing fees. They were not listing projects because they could potentially make a lot of money on listing. And then they were also a little bit wary as well. Maybe they were a little bit cautious about, you know, new clients coming in. All of a sudden, when this DeFi wave kicked off, Uniswap came on board. People were like, oh, we need to do it. Now it's like, oh, Uniswap listing is good enough. There's so much liquidity on Uniswap. That's great. We don't need any more. Bye-bye. Bye-bye, CeFi. And then even worse, I mean, I saw this yesterday with TrustSwap, right? There was so much distrust with centralized finance. And centralized finance was doing some really shady stuff. Super, super shady. So let me see if I can still find that tweet for you guys. It happened with TrustSwap. So let's see. Let's see. Let's see. Okay, let's delete it now. But with TrustSwap, like one of the things that people encountered was that they couldn't withdraw money from the BKey exchange. Right? And why? Why couldn't people withdraw coins from the BKey exchange? It was because BKey was not selling actual or listing actual coins on exchange. They were just saying, okay, look, we like this project. We just artificially put some numbers out there. That's very likely what happened. And then when the coin goes up, people want to withdraw. They just don't have those coins. They just probably have to buy off the open market. And this is also what people were complaining about some coins on MXC and other centralized exchanges. Essentially, these centralized exchanges, they don't have the power or not the power. They have the power to list any coin they want and put any quantity they want. If you guys saw with the whole Polkadot incident, people were trading Polkadot before Polkadot even launched. Right? Good and bad. You can speculate. Great. But at the same time, what if these exchanges can't find that particular coin? They can't source that particular coin. You're putting yourself into a lot of risk. And the power of DeFi means you can transparently see what's available. You're actually getting the delivered product. Anyway, so that's very powerful. And I think a lot of people who are doubting the whole DeFi space, they've got their heads in a tizzy. They're probably too like PTSD. They have too much PTSD from maybe de-force or maybe something that happened. They can't see the innovations that are coming into place here. I think right now, even for something like Compound or Cream, the ability for a person to deposit. So we've got Compound. You can completely deposit a coin that you don't need or you have. You can say if you want to have BAT, RappBitcoin, USDT. Or you can go on Cream and you can say, look, if I have one coin that I don't really need right now. Like you have Wi-Fi or Lend or Link. If you have these coins, you have Link. I'm not using it. Lend it out. You get APY on that. Why not? You get APY. You can borrow another coin to speculate. All of a sudden, people are saying, oh, this is pretty useful. So anyways, it's extremely powerful. And we just got a comment that says from Shobo Baggins says MXC is one of the worst. I think MXC, they're trying to be overly aggressive and there were certain withdrawal issues. Yeah, don't just be very careful. There is liquidity on MXC. I don't think it's on the list of the worst offenders. But I did hear there was quite a lot of rumors that people couldn't withdraw. So just be careful. Anyways, so that's take a DeFi. I'm actually still extremely... I'm not just... I'm believing DeFi has a huge play here. Like if you've been in the whole yield farming space, you'll realize that the power of DeFi is just crazy. Especially if you can be able to borrow like the way I set everything up. Like I have Ethereum. I collateralized it. I made MakerDAO. I pulled out the DAI stable coin. So now I have Ethereum exposure. But at the same time, I have liquidity in the form of DAI. Then I deposited a DAI into Y-curve. And now I got the Y-curve tokens out. Then with the Y-curve tokens, I put that in Vault. And I also put that in the DAO for Curve. And you're like, oh crap, you can do so much with this stuff, right? So this is just total insanity of how much it can do. And you can realize it sounds crazy. And it might screw up. I mean, that's why I'm not putting everything into it. But at the same time, you're starting to see the power of all this coming through. So I feel like there's a lot of things that people, if they are PTSD from early on, especially Chinese, if they have PTSD from DeFi, exit that mindset. Exit that out. But at the same time, China's actually getting very hot on NFTs, non-fungible tokens. And this is like the next big thing, right? So if you think about it, there is a certain power with these tokens. And there are a few interesting. So let me go to the tweet, which I route a lot of people up. But it's this one. Let's see. Over here. So right now, there's a lot of people selling non-fungible token artwork. Interesting. All right. And they're selling that for a lot of money. So one of the examples here would be, you know, this whole NFT space. You have like games that are doing this. You got rare PPs. You got a bunch of other ones. I mean, CryptoKitties, you guys all heard of. But those are games. But now there's moving that into artwork. Mona Lisa, someone was commenting. I think it was Leo who commented on this one. You know, what about artwork? What about selling this $30,000 artwork and, you know, maybe get to have partial ownership of it? The only issue, of course, is that how do you differentiate a artwork, right? It was in master... Let me just post that up as well. I'll say masterpieces. So... All right. So, yeah. So... There are a few of these. So it's like Mona Lisa, Picasso Bull. There's like these NFTs are extremely expensive. Your ownership of it. I'm so sorry, guys. I had this website prepared, right? I have this website prepared. Just that I can't find it right now. It's Crypto Masterpieces or something. Just give me one second. Let me try to find it. All right. There you go. That makes sense. Crypto Masterpieces. So, yeah. Own a digital masterpiece. Own art on a blockchain. That's like the stupidest thing I've ever seen. All right. Like, these are masterpieces that are created ages ago. They're valuable because they're the originals. Now that you scan it in, took a photograph of it, and then you made an NFT out of it, doesn't mean you can sell it for $30,000, right? This is the... I don't know what sort of delusional thinking people are under for this. Like, this is the... Like, what art collector would want to collect JPEGs? Like, yo, yo, yo, guys. Well, check this out. Check this out. I got a JPEG for Mona Lisa. I paid $30,000 for it. Check that out, man. This is so cool. Like, in what world would that make sense? Like, people would be like... Idiot. It's like, it's almost as bad as buying an iPhone button. I remember there was an app that cost $30,000, and then there was a button for it. And they're like, oh, this app, this button cost $30,000. Hey, come on, guys. Buy it. Because it's like the latest, coolest thing. So I feel like there's this disconnect, right? There's this delusion that people are under for NFTs that an image can do. An image can't do. You have to have some form of functionality. And this is where the real argument comes in, right? This is where I'm going to stop making fun of stuff. I mean, this is... All right. This is where I'm like, okay, look. For certain ideas, you got to start exiting that delusion. But, you know, you can't just have a simple image. That's just not good enough. Crypto masterpieces, art masterpieces, art collecting, I don't think that's going to fly unless it conveys some form of ownership. Sure. If you own the actual Mona Lisa, every time someone photographs of it, you make one cent. Why not, right? Paris, you go to a lube. People snapping photos. Oh, my God. That's like, what? $3,000 per hour? If people pay you that, right? Obviously. Now, that's the harder part. Like, if there's copyright ownership, if there's intellectual property involved, if there's some sort of gameplay involved, if it's actually used in a video game, yes, that will be a different story. I will be jumping up and down, you know, extremely ecstatic for it. And this is why I'm definitely looking at NFTs. But I'm coming in with a very critical mindset. I think that's the key here. I think it's like, how do you manage to achieve all this? We've seen attempts in the past to try to use an NFT to convey intellectual property. But then you also run into some security slots, too. So, yeah. So, recently, I've been looking at a few of these NFT things. You guys know I'm extremely big onto Engines. So, they're all about gaming. And so, yeah. So, that makes sense. You know, if you can play with your NFT in a video game space, that makes a lot of sense. They already have the marketplace up. So, you can start selling these items. And eventually, yeah. If there's a very good video game that you can use this NFT in. I've got my own NFTs. These are just images. So, no, I'm not trying to sell these images for like $30,000. But I'm trying to sell them for like $0.20. That makes sense, right? If you want to collect a fun, collectible image. You want to collect like something, some sort of collectible for box mining. And if we kind of make some use case or purpose out of it, that's kind of what I'm testing with all these NFTs. I have this whole MT set. Box mining collectibles. Check it out, yo. It's been created ages ago. It was an experiment from two years ago. Uh-huh. I was there very early. We have 7,000 holders. Holy crap. I'm pretty good. Sorry. Sorry for patting my back. I need to be humble and honest. But I'm pretty good. I've got 7,000 holders. If this was a cryptocurrency, if this was like a sheet coin right now, I'm in good shape, right? Anyways, guys. So, yeah. So, it's been now for two years. Lots of holders. Eight different assets on this. We got some fun little images and stuff. And I think that's kind of the correct pricing you want for these, right? Like, they're locking up $17. This is the most expensive one. It's a special one I gave out for free, too. I gave these out for free. See? This is... This doesn't make sense, right? This fun collectible thing I give out to you for free. Whatever. I'm not selling for $30,000. Anyways. My rant's over. But, yeah. So, I'm looking at that. I'm also looking at Vimworld. So, yes. We did. After that controversial tweet, I did actually talk to the guys behind 8-Hour Foundation. And we're looking at Vimworld again. And it's just seeing, like... Okay. Look. They're making intelligent NFTs. Okay. What's an intelligent NFT? That's interesting. Like, maybe an NFT that can grow over time. That could be interesting. Like, maybe, like, it's in a video game. You can grow. You can feed it. You can take it into other video games. Okay. Maybe. Maybe. Maybe. We'll take a look at it. So, anyway. So, I've been looking a lot at that. At this whole NFT space. At Engine. At everything that's going on. I mean, shout out to Leo for creating art exhibits. And figuring out how you can fractionally own art. Or maybe have a real painting. And then have the ownership also on your phone. Not the coolest idea. But I guess as a start, you have to have something a little bit more than that. But, anyways. That's kind of cool. So, anyways. We've got Juliana. Clint Put Juni says, I already got your NFT for two years. Congratulations, guys. Nice. That's awesome. You guys are good collectors. Like, these NFTs went up quite a bit. Like, I didn't expect that. I gave these out completely for free. Like, they're just fun collectibles. This is the whole set. If you guys are interested in more. And for me to continue on this experiment. Sure. I'm definitely not going to sell it for $30,000. Okay. Alright. But if you guys are interested in collecting these cards. Or having some cool cards. Tell me. Tell me. Tell me. Shoot me some. Shoot me some ideas. This might be something fun. We might continue this. It might be very interesting. And then maybe finding some further use cases for it. That's kind of more important. I think that's the. That's the core part of this. So, anyways. That's my take on NFTs and DeFi. I think DeFi is extremely useful. It's more proven. Entities are still getting there. But we need to find a good use case. I'm very, very critical. I don't believe in just tokenizing an art. And calling it a day. Especially if it's done by Summerbees. Or one of the big, you know, art houses. That makes no sense whatsoever. But if it has a practical use case. If it has some sort of functionality. Maybe you can grow it. Maybe it's in multiple video games. That's when it really does matter. Alright. So, moving on. So, we have some news as well. So, first of all. Yeah. People are freaking out. They're looking at Bitcoin prices. These are like the most popular articles on Cointelegraph right now. But yet again. It's a case where people who are new to this space. They don't understand. There's like a lot of volatility going forward. We also got John McAfee. He's ghosting his own project. I'm not sure if you remember. There's a project called Ghost. That John McAfee was like. Oh, he's making his own privacy coin. Well, John seems to be abandoning ghosting his own project right now. I think this isn't very. This is definitely not unexpected. Absolutely saw this coming. I think it's. I mean, John McAfee's good popcorn, right? It's just fun to watch. It's entertaining. This is like crypto entertainment. I wouldn't take it too seriously. I wouldn't touch any project that he touches. But, you know, it's fun. It's fun. Maybe I'm a meme. Maybe I'm mean. Maybe like you guys really care about ghosts. But I'm like. I'm like. This is completely expected. Hopefully, he'll live up to his word. Maybe he'll change his mind and eat his own dick in 2020. In which case, I will respect him. If Bitcoin doesn't pass a million dollars by the end of this year. And he does eat his own dick like he promised to three years ago. I will respect him. That'd be like. Yo. You delivered. Respect. All right. Moving on to Algorand. So, this is quite interesting. So, I've been following Algorand for some time. Because it's one of those blockchain 3.0 projects. Not just one of them. It is the blockchain 3.0 project. Silvio Macaulay, the creator of Algorand. He's like. He is balls deep. He's like one of the original OGs of the whole cryptocurrency. Not the crypto. The whole cryptography scene. So, having invented a lot of the technologies that are powering crypto right now. Like being one of the original inventors of this. Obviously, he's got a lot to say. And, you know, he also won the Turing Prize, which is like the Nobel Prize of computing. It's like it's a pretty big deal. So, anyway. So, in terms of Algorand, what they're doing now is they're shifting focus to decentralized finance. So, before with Algorand, they have a very fast way of sending cryptocurrencies around. Great. But, at the same time, in terms of the projects developing on it, not too much. But, right now, they're expanding what they're doing with their smart contract platform. They're having a new layer onto it, which allows for a much more efficient smart contract at scale. So, this is very interesting because, you know, we're meeting those problems on Ethereum where it costs a lot of money to interact with these smart contracts. And it's kind of interesting how this newsletter really directly targets everything that is quite hot in crypto. Be it auctions. You got auctions, security tokens, crowdsourcing, decentralized exchanges, transparent banking. So, what he's basically saying is that they can do all of this. And this is going to be the interesting battle to come where, with Algorand, with all these new projects, they're much faster. And it's going to be speed versus community. I think that's kind of what's happening on Ethereum. Ethereum has one of the biggest communities. It's also one of the OGs there. I'm not trying to diss Ethereum. But I think in this network, this ability to expand the smart contract platform is interesting. So, recently, I've definitely been looking at Elrond. You guys probably know that. Been looking at Algorand, Clashgraph, and also some projects like even Ontology. Looking at basically how we can scale this. And, of course, Binance Smart Chain, obviously. Obviously, right? So, with all this stuff coming on, with all these changes coming on, people are looking for cheaper transactions. People don't want to play yield farming and be like, oh, I spent like $500 today. Which I literally did in one of these days. Like, when gas fees were at 200 guay, you just have to bite the bullet and spend 200 guay. That's just the way it is, right? Because, unfortunately, you have to move those funds around. But, yeah, otherwise, you're losing out on yield. So, it's a case where we need something faster. We need something cheaper. And, hopefully, we'll see how Algorand does. I mean, this seems to be a pretty big launch. So, I'm pretty excited, actually, for following it. A lot of people haven't been following too much about what's going on with this blockchain 3.0. But, that's not the case with me. I feel like that's kind of important right now. We've also got loop ring or not. I think loop ring needs to be covered at another angle. Because loop ring... How do you say this? There's this way to scale Ethereum that doesn't require Ethereum 2.0. And, I think you brought it up at a very good time. So, how do you... Can you allow Ethereum to run smart contracts without the release of Ethereum 2.0? And, that's what loop ring is trying to do with a lot of few other projects. And, I think this really deserves some attention. So, I'll do that as a special episode for another episode. Anyways, a big shout out to Sol. Also, as well, for Crypto Rev. DeFi Rev, rather. So, we recently got an interview. I know this looks like the weirdest image of me. But, we got a Q&A. That's kind of... They asked me some Q&A stuff. So, right now, I'm person of the week. Apparently. That's great. With this creepy little face. This person of the week. This is a creepy little person. Being this... Person of the week. But, anyways. We covered a lot about how I got into crypto. What my take about everything is. And, kind of what's happening with everything. So, if you guys want to check it out. A little bit about how I got to be where I am today. I guess this little weird guy making YouTube videos. Check the article out. Anyways. Okay. Moving on. So, we have a few questions on yield farming. I promise you guys I'll talk a little bit about yield farming. This new tool is super useful. This was recommended on our Telegram channel. If people want to get started. This tool is super, super useful. You have... Wow. You have your APYs here. So, this is your annual percentage yield. This is what the provider is. This is what the pool is. It tells you which ones are hot right now. Obviously, sorted by annual percentage return. Holy crap. $8,000 here. Alright. I'm going to talk a little bit about this. I'm going to slam down the brakes a little bit as well. Because these pools are extremely dangerous. So, anything that is a slash. Alright. Anything that's like spaghetti, CCR, YY curve, slash pasta. These are extremely dangerous. Because of something called impermanent loss. If it's just a pure pool. So, you probably have to like go scroll down a little bit. You know. Go down to the hundreds. Here. Not the thousands. Not the thousand percent APYs. Got to scroll down to like the little bottom bits here. You know. Maybe something like a USDT vault. USDC vault. These are the farms and the yields that don't have the risk of buying a particular currency. So, this is actually very important to identify. If you're a yield farmer and you're yield farming this. Obviously, this is something that I was tempted to do. And also, I've got schooled hardcore by this. So, anything that's a slash. Essentially means that there's a risk. You have to take up one of these coins. You have to not only take up one of the coins. You have to be providing liquidity to one of these pools. And this is even more dangerous. Because now, you're market making for that particular coin. And you're going to be in a lot of risk situations. So, they also have this impermanent loss primer. I'm also going to do a video on impermanent loss as well. This is real, guys. And one of the biggest examples about this is that I am also mining yield farming based. So, yesterday, base was around almost $550. So, I started mining around here. The returns were great. You're getting like 5% per hour or something. Something ridiculous like that, right? Great, great, great, great, great, great, great. Bam! It hits you in the face, right? When base drops by like half 50%, all of a sudden, all your funds that's in the pool is also being used to buy that dip, right? So, now you're having more and more exposure to based. And also, base is losing money. So, if it was a 50-50 pool like the one I was in with Uniswap, then yeah, you lost literally 30% of your capital, of your mining capital right there and then. Yes, you know, I'm saying this really easily because I didn't mine with that much. And I think, you know, base has something long-term. But I was like touching it only with like around 5K. I wasn't touching it with a big bank or with anything. I was just like super, super small. And that's the thing. That's the thing we have to be very, very watchful of. So, with yield farming, there's better tools now, which is great. We can track out what's happening, what's out there. There are so many farms. It's insane, guys. But at the same point, just be extremely, extremely careful. Like high yields, high returns are usually there because of super, super, super high risk. So, it's a case where, you know, like the way I put it yesterday was that a lot of people were saving money in centralized finance resources, like those apps. It goes to show that a lot of people want to type, like they want to go to Celsius or maybe even Binance. I mean, I think, heck, Binance was pushing notifications out to me. I'm not sure if we're going to find it here. But Binance was pushing notifications to me. So, it said, yo, save your crypto here. There's a new DeFi option with like 10% annual percentage yield. Save it with Binance. How does Binance use that money? I don't know. But, you know, like I think there are people who want to trust centralized entities. Binance might be a little bit better because, you know, they have an exchange. So, if they blow up, if they screw up, then they have to answer for that, right? They have a whole exchange there. But if it's just Celsius or maybe a small startup, like a lot of people will ask me, you know, what about Celsius? What about Digifox? What about Cake DeFi? And I don't want to throw shade on these projects. But at the same time, there's like a lot of risk because these projects, they might not be secured by any sort of insurance. And also, they're centralized. So, you don't know what they're doing with those funds, right? You have no idea. So, this is a situation where transparency is key. You need them to be more transparent and have records. And also, if they have any form of deposit records, at least show them to you. So, I'm not trying to completely diss it. But at the same time, I'm like, okay, look, it makes, for me at the very least, it makes more sense for me to know what's going on. So, at least yield farming makes more sense to me that way. Okay. So, anyways, that's how it goes. We've got Glenbrook Jr. He asks, do you have a tutorial about yield farming on your website at BoxMoney? Don't know what it is. So, if you don't know what it is, I guess learn about it. We don't have too many guides right now at this current point. But we have, like, split guides on to say, like, what is CRV? What is Yam Finance? Like, this whole Yam thing going on. We also have the early, very, very early coverage of what was going on with Compound. And then also with YFI 1 and YFI 2. Like, both of these big, big yield farming projects. We both have coverage. We all have coverage for that. So, it's just so much like YFI, YFI yield farming tool with Yurimpool. So, it gives you a little bit of what's going on. I mean, we covered this super early, all the way in July when it first started. So, you know, congrats to anyone who followed it. But, yeah. So, they're not full guides. They're kind of like a rough hint. But the key thing here about yield farming is that you've got to be quite good at crypto, to be honest. It's not super easy. It's not super easy. But, I don't know. At least know what it is. I think that's the key here. I know it's starting to get super hot with the mainstream community. I will try to make some rough guides about what's happening. But, at the same time, just be very, very careful about what's going on. All right. Digifox is a smart contract wallet with partner integrations. Is it? Is it? Is it? Anyways, I know some people really love Datadash. I'm not going to hit on Datadash that much. Love him, too. He's feeling great. He's been still making content. That's awesome. All right. Angela Wang says, box money from Xing Lian Liu. Have you had a chance to look at Flow protocol? So, when I took a quick glance at Flow, it seems like more of those economic game type protocols. So, it's one of those coins that was like, oh. It felt like ample forth. They're trying to do this type of game. Same category of this economic game. Not sure if there's any long-term value in that. But, people love it. So, it took off. Which is great. Because, I was like, a friend told me about Flow very, very early on. I've already made my money. I think I already did like a 10, 15x on Flow. So, yeah. Take it as you wish. It's one of those projects that I knew it was an economic game. I bought it as an economic game. I sold it as an economic game. And, I've already got my principal back. So, I'll just be honest about it. Like, I'm not going to hype it up and say, oh my god. It's the next thing. It's a slice spread. I don't really think it's the next thing. It's a slice spread. But, some people love it. So, there you go. We got Modi Funstar. It says, could you please do a quick step-by-step video demonstrating how to use Anchor cloud platforms sometime? Sure. Absolutely. There's a lot of staking there. I've recently also... Let me see if I can log into Anchor here. Let me... A and K R. Absolutely. Absolutely. Lots of staking going on there. And, I'll show you guys what I have so far. So, let me see if it's... Let me see if I have my... Oh, no. I don't have it logged in here. But, I'll show you guys later. But, something that's cool about Anchor is that you have like a one-click node formation, where you can stake different cryptocurrencies. Not just stake, but you can run nodes for different cryptocurrencies. And, there's a few cool hacks as well. I'll teach you guys. Yeah. You can basically start an Ethereum Medela node. You can start Binance Smart Chain. And, thank you guys also. If you guys have been helping me out with starting the Binance Smart Chain Validator, that was on Anchor. And, that's almost launched. It's almost... I'll be like the box validator on Binance Smart Chain coming up soon. So, yeah. That's all on Anchor. So, yeah. I'll do a step-by-step guide soon. I just don't have the time, to be honest, guys. Stuff like this takes... Like a video, honestly, it takes three to four hours. And, that three to four hours could be used for me to do either research, investing, or doing something else. And, unfortunately for me right now, that's a lot more profitable. So, I'm sure, unfortunately for everyone right now, it's a lot more profitable to be investing in crypto or to be researching crypto during that time. I'll just be honest. I'll say it out there. Like, I've been very motivated recently. I don't want to be too greedy. If I say this, I know some people will be too greedy. But, recently, I've been trying to follow a lot of people and a lot of the crypto OGs. They're making like five to six figures per day on trading coins or something crazy like that. Yeah, it really made me think, look, okay, I need to be pushing myself a lot more aggressively here. Like, yeah, why can't I make a lot more? Why can't I make ten times more? But, obviously, don't be too greedy. Like, I'm controlling my greed too. I mean, it's so easy to go full gambling. If you hear that, you'll be like, oh, man, I'm like... Go full gambling and then you can win some money. But, that's not the way you want to go. You want to pursue it so that you're making consistent gains with as least risk as possible. And, you know, you got to constantly push yourself to... Like, for me, right? That's what I'm doing. I'm pushing myself to do that. Learning more. Talking to more. Getting a better strategy. Learning from my mistakes from 2017. Just overall improving to a point where... Yeah. Then I don't have to worry about finances ever again. All right. So, Jordan Fader says, I'm earning 37% APY with incognito private sidechain and so many other ways to generate yield. Exactly. It's crazy. But, you just have to be making sure that when you're generating yield, you know... Yeah. Just don't put yourself under impermanent loss risk. That's pretty huge. That is pretty huge. We got this E-Tamborin. It says, Angela, is my co-changed this time from Friday to Thursday? Now, this is an extra stream. I just felt bad for not making a video yesterday yet again. I'm like... Actually, I did make a video. It was the interview with KuCoin and Orion. But, I feel like I constantly want to make videos every day. Like, I have all these brilliant ideas. I'm like, oh, NFT versus DeFi. And, just make this video out. But, then if I make it as a normal video, like a normal release video, it just takes too much time. So, I'm just doing it as a live stream and kind of covering the constant. So, if it's too long for you guys, do tell me. But, anyways, that was kind of fun. And, that's kind of how it's going on. Jaya says, are you still keen on PLT? So, Plutus DeFi actually recovered quite well. So, like you guys said, I told you guys, PLT... So, I bought the dip. I bought the dip a little bit too early. So, I bought the dip going from Plutus... Plutus... Plutus... Plutus... Yeah. So, I bought the dip roughly between 20... Like, 29 cents and all the way down to 20 cents. Then, I was like, it kept dipping. And, I was like, okay, can I get more? But, anyways, at a certain point here, I kind of took some profit. So, yes, it did push beyond the price that I bought Plutus for. Thank goodness. I guess the FUD is over. Like, FUD waves are crazy right now. People are... Like, both hype waves and FUD waves are crazy. And, that's the market emotion, right? So, I took some profit. I still have Plutus. But, yet again, they need to start delivering now. That's the key point. Now, that the speculation phase is over, the price establishment is over. Now, they need to start delivering. So, that's where you need to follow up on. Plutus says, why the heck would you worry about your financial future with 5 to 6 digits profits per day, 4 weeks of work, and your set for life, LOL? I guess. But, then you're hearing people with ridiculous amounts of money. You're like, okay, maybe I want to have ridiculous amounts of money. That sounds pretty fun, right? So, I guess it's partially greed. You know, yeah. Pretty much. Like, to be honest, like I said on this channel before. Like, personally, for me, I have quite a long runway with everything that I'm doing here. I'm actually very secure. I don't really... That's why I can just take some time off, right? But, this year, since coronavirus is here, I'm just like, you can push yourself a little bit harder. Why don't you... You know, why not, right? You know, if you want something cool in life in the future. I mean, kids are also expensive, right? Kids are like 7 digits or something like that, right? So, you got to think about it like that. It depends on how you think about it, right? So, I don't know. Okay. So, let's see. Let's see comments. I think I covered pretty much everything I wanted to cover today. We got Plutinski says, dream big, baby. Hell yeah. Hell yeah. Hell yeah. So, we got Jordan says, I make 20K a year. So, yeah, you're set for life. Man, I'm thankful. I'm thankful. So, I'm thankful for getting into yield farming very early. And I got into trust swap very early. I should definitely cover them a bit more. I think it's one of those projects that move fast. And I was very, like... I knew moving fast was important in this space. But then, at the same time, I didn't know how important it was. Like, the speed at which trust swap moves all of a sudden, you know, is crazy, right? So, first of all, like, just following trust swap for a while. So, first of all, BKey Exchange really tried to screw over people from trust swap. But immediately, Jeff responded. You know, he was just like, why? Why? Why is the withdrawals taking so long? Two hours later, they finally fixed it. So, it's all about putting pressure, right? Putting social pressure on his exchanges not to be scammy, first of all. So, that's protecting your own community. But also, recently, trust swap, the launch pad, is going crazy. They're also doing a lot of airdrops. So, Softlink, apparently, I'm not even sure what this is. But they're just dropping coins onto trust swap token holders. So, all of a sudden, you see that momentum going on where now people want to tap into that community. Because that community is so hot and so awesome, right? So, it's kind of crazy. It's kind of crazy that everything is happening so fast. Now, trust watch already has their... If you guys aren't up to date yet, but trust swap has their own incubating platform called trust swap launch pad. They're launching chain games on there. They're launching another very hot project very soon. So, all of a sudden, you can see the application use case immediately come into play with speed and with efficiency. So, yeah. It's crazy. It's crazy in this space. So, that's important. Anyways, guys. Obviously, you know you guys know I'm quite biased. But I did join the trust swap advisor as an advisor for a reason. Not because of the money. It's also because I want them to succeed. I knew Jeff. You know. It's kind of funny, right? Jeff is something I knew in Bali, right? We worked out. We're in the gym. Like, I knew he had energy. I knew he's someone that you want to invest your time in. And this whole bull run just taught me that, yes, absolutely. You know, he was down at some times, right? He rolled out the waves. He was doing one up. And, like, it was not seeing the success it should have seen. And I was commenting on this, too. You know, there was a time when I was like, I talked to him. I'm like, yo, you know, I do want to support your project, right? Like, I want to support what you're doing. And luckily, I did because it's one of my 20x's of this year. Yeah. I knew him at a time when, yeah, he wasn't doing super well. But he had the energy, had the strength, he had the determination. And then he managed to push both his projects up like crazy amounts. Both PrudSwap and Uptrend are one of the biggest success stories of this year. At least for me, anyways. So, I know it's a little bit selfish, self-congratulating myself. But at the same time, I feel like in 2017, I didn't have this confidence. Like, in 2017, I didn't know who to pay attention to. I mean, this is a big problem. It's just being naive, being stupid, being young. I mean, I interviewed a lot of people. Some of them sound really great. Some of them sound amazing. But then some of them, the same people who sound amazing might be total scammers. They might completely fail you. They'll just tell you what you want to hear. This is a big problem. Like, that's just the honest truth. A lot of people told me what I wanted to hear. I asked the questions. And I already knew what answers I wanted to get. And they just repeated that to me. And then that didn't work out very well. Rather, you want to find people that pay attention to you, even if maybe things aren't going well. They're real friends. You want to find real friends in this space. You want to find a really good community. You want to find people who are aggressive when they need to be. They're generous when they need to be. And they're greedy when they need to be. Not the other way around. There are some projects that are greedy when they need to be generous. And then generous when they need to be greedy. It's all about timing and pacing. And it goes to show that strong characters in this space really win out. So, anyways. I've been paying a lot more attention to Cream with Jeffrey Huang. I feel like he's got a lot of energy there. I've been paying a lot. I guess maybe I like Jeffs a lot. So, both Jeffrey Huang and Jeffrey Hickerdet. Because I'm paying a lot of attention to. So, I just realized that just now. But, anyways. Two Jeffs. Paying a lot of attention to new projects in the whole DeFi space. I think it's still relatively untapped, though, in terms of good projects that's going out. And I definitely appreciate all you guys on this channel as well. I think this whole channel, this whole community. And one of the reasons why I'm not giving up YouTube making or, you know, I've been making YouTube videos for the past three years. It's because of this community here. I really, really appreciate what you guys are doing. I want to help you guys. And at the same time, this whole community helps me a lot as well. Even these tools. They're already provided to me by a lot of my community members. Especially on Telegram. I know currently the Telegram group is closed. But we're going to reopen that up next week. So, make sure you stay tuned. Click that notification bell. We'll have an opening window for new members. This is just a good. Oh, sorry. Sorry. I'm just like dry throat. This is a great way to prevent spam. The channel went really well. The whole channel went private. We're not accepting any new members for now. But what's interesting is that the moment we stopped accepting new members, the quality of the discussion just went straight up. Like I can start asking questions and feeling what gauging what people think. And we get truthful answers there. So, that was pretty damn awesome. So, yeah. Pretty cool, guys. So, guys. Apologies if you can't get in. I know a few people were trying to get into the Telegram group. We're going to reopen that up next week. So, stay tuned. Stay notified onto this channel. We've got Ryan Tases. Everyone appreciate you too, Michael. Awesome. That's awesome. I hope this like... I'm being super blunt this year. So, you know, this is pretty darn crazy. And we've got Shobo Bagginses. Those were my big bags this year. One Up, Swap, and Ava, Missed Wifey. Doesn't matter. You know, if you miss something, there's no need to freak out. Like, this is crypto. It's going to come back soon too. But at this most important, at least for me, is protecting my principal. If your principal is gone, if you do a 0.1x, principal is gone, right? You just have to structure it out so that even if you have, like, say, a bad run. Like, say if you have, like, 10 0.1xs, you're still alive. All right? That's important. That's important. I think there's so many angry people. I see so many angry investors who just go all in. One project, you know, balls in. Balls deep, you know. Let's go big or go home, baby. You know, we see that mentality all the time. And then, like, maybe one of those projects get wrecked and they just get completely screwed. So, not financial advice. I've just seen that mentality a lot. Like, some very, very, like, angry people. But you just got to learn how to deal with that, right? Like, I definitely got a pulled rug this year. Like, last three weeks, I definitely had a pulled rug where, like, I threw some money down on a project that I thought might be something that could potentially make a very fast run. Zero. Right? Like, boom. Pulled rug. Project disappeared. Founders ran away with the money. Happens. Not salty about it. Made a lot more everywhere else. But just be careful. Just be careful. Like, if I went all in on that, I'll be, like, crying in a corner right now. Like, what a scammer. Am I going to call it police? No, man. It's just, like, you got to figure out what's happening. You got to understand the risks. You got to make sure you're just top of the game. And that's how to win. So, anyways, guys. Thank you guys so much for watching today. We'll do more questions and answers. We'll have, you know, questions and clients people want to talk about, etc. I think these live streams are really great. Tomorrow, we have a live stream, too. So, these are our live stream times for today. So, check that out with these live streams. So, we're going to do that tomorrow as well. So, both today and tomorrow, we got live streams. Thank you guys so much for watching as well. We'll have some more content going through and seeing what is happening. We got a question about what are your best DeFi gems. I'll talk about them in the next video. We'll do a DeFi gems video. Oh, my God. DeFi gems. Just joking, guys. There's a lot I'm looking into. In fact, just off the top of my head, I'm looking into some new projects right now as well. I'm looking into Ramp, R-A-M-P. Super, super highly contested right now. I'm hearing it's, like, super sold out also. Looking to O-I-N, Oren. Looking into, surprisingly, E-Fers. I saw Ivan on tech being into that. I saw Fomosaurus really into E-Fers. One of the early guys. I'm looking into those projects. There's also Black Hole. There's a Black Hole liquidity provider. That seems quite interesting. Yeah, reading so many white papers recently. So, it's a little bit crazy. I can't even remember all of them. There's, like, weird names. Like, Union. There's another Union one. But, anyways, I'm trying to structure my time between what is available on the market and what is going to launch. And then you have the whole, you know, whole, like, how do you even get into those projects issue. But, anyways, that's a story for another time. Guys, thank you guys so much for watching this video. Smash up those likes. Be part of that notification squad. Teachers are going out as well. So, make sure, like, the last video that qualifies for video. I think you still just type notification squad for the last one for this video over here. And then you'll be in pretty good shape. So, yeah, do that type of notification squad thing there and it's doing well. So, guys, thank you guys so much for your support, guys. Enjoy the rest of your day. See you guys next stream. Bye-bye. Bye-bye.