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  • next question I get asked all the time, as brian is defy the same as trading cryptocurrencies.

  • And again, right now, if you could type into the chat, tell me if you've traded cryptocurrencies, just say yes, I've traded crypto No, I havent traded crypto because I'd like to get a sense right now of of this audience and what they're doing.

  • And let me just say this cryptocurrencies are not the same as defy.

  • And let me try to explain that cryptocurrencies like Bitcoin are more analogous to assets like gold, whereas defy is the actual infrastructure more like the global financial system, the banks, the insurance companies, the brokerage companies, all of that.

  • That's really what defy is more analogous to.

  • And let's look at an example, gold prices go up and down.

  • Cryptocurrency prices as we've seen recently, go up and down and here's the news, they're going to continue to go up and down For probably the next 100 years, this is the reality.

  • But the global financial system always stays present and it actually innovates overtime constantly.

  • Even when we have setbacks like stock market crashes and uh, you know, savings and loan mishaps and mortgage crisis is actually the infrastructure constantly improves, which is why you usually get better services online, etcetera.

  • But that's still centralized finance.

  • One of the great analogies that Andrea Stanton ah Poulos, who's been on my show For over the past six years, one of the real great experts when it comes to understanding Bitcoin and all things Blockchain, He told me this and I'm gonna play this video for you a little bit later.

  • He said, brian remember back in 2000, what happened with the dot com boom?

  • And I said actually, I do because I was the 27 year old CFO of a dot com startup in new york city called luxury finder dot com.

  • And here's a quick story.

  • I actually left London in 1999 to take this job as a dot com.

  • CFO in a startup in new york city and one of my best friends from M.

  • I.

  • T.

  • Called me up and said, brian, he said get your ass to new york, you got to be part of this revolution.

  • And I got this job for you.

  • And I said um I'm kinda in the middle of here, I'm actually in the financial markets and he said, this is where you want to be.

  • So I flew back And within three weeks I had moved back to New York City.

  • I left all my furniture and everything in London, I didn't care and I started going into the.com boom and everything was amazing and we're all worth millions of dollars on paper and in 2000 the market crashed and the NASDAQ crashed.

  • And I think over a trillion dollars of value was lost in that market.

  • Now.

  • That's a good example of an asset prices going up and down like a crypto or the stock price of uh you know the luxury.com or the price of Bitcoin.

  • But what happened in the year 2000 something, no one talks about it was the greatest year for the Internet on record.

  • What do you mean by that brian?

  • What you mean the greatest year?

  • Well, clearly it wasn't the NASDAQ lost half of its value.

  • Yes, but everyone in the world started looking at the internet As a solution to their future.

  • They started using it to buy books and by Julie they started using it to consume content, they started using it for search, they started using it for every day of their life.

  • So actually 2000 was one of the biggest wins for the Internet and Internet integrated into commerce.

  • And yet we were focused on an asset price that goes up and down and up and down.

  • This is a similar analogy to defy we're gonna see Bitcoin go up and down, we're gonna see Elon musk tweeted out this and that, but defy as the infrastructure is going to constantly be improving and if you had bet on the internet back in 2000, your gains right now would be 100 X 1,010,000 X.

  • Think about that, if you had invested in some of those early companies back then you would be a winner.

  • Right now we're gonna do the same thing inside my defy academy.

  • And so think about that analogy, Let it seep in.

  • Mhm.

  • Mhm.

next question I get asked all the time, as brian is defy the same as trading cryptocurrencies.

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Is DEFI the Same As Cryptocurrency? DeFi Real With Brian Rose I Episode 2

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    林宜悉 posted on 2021/06/07
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