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  • Yeah.

  • And it was that ethereum that allowed those smart contracts to about that open source method where people could actually now start, you know, creating those D apps and really started experimenting.

  • And I was trying to tell my students like an analogy, you know, when I worked on Wall Street Ben, it was me and maybe, you know, 20 other shops like ours that had balance sheets that had the regulation that had to know how that could offer these derivative instruments, right?

  • Maybe the Jpmorgan's and the bankers Trust and the Goldman Sachs and a few others.

  • And so we were in their innovating, But you know, you had to have 10,000 employees, you had to have a couple billion on your balance sheet in order to even offer these instruments.

  • And so we innovated, we competed with each other, you know, we made a lot of money, but again, it wasn't decentralized.

  • Now, I see almost the same thing happening in this open source way where you've got four kids up in Helsinki or 10 kids out in Singapore or eight guys are men and women.

  • I don't know where they are.

  • I don't even know their names right there, cooking up these fascinating new apps.

  • They're putting them out there.

  • Yes, there are bumps and bruises and hacks and mistakes, but the innovations incredible.

  • And again, it allows the user to decide.

  • And then you can see where the money is and you can see the market caps, you can see the flows.

  • And since it's a public Blockchain, it's all visible this rate of innovation and could never happen in centralized finance world.

  • Not to mention the fact and centralized finance, not only would they wouldn't innovate they keep all the money for themselves.

  • I'm sure you read the book the innovator's dilemma, it's actually just not in their interests, whether they are evil or not, it's just, you know, it's not in their interest to eat their own lunch and take their own profits.

  • And so I totally agree with what you're saying, what we're seeing, it's all based on that ethereum innovation and the fact that, you know, it's open source and other people can now go out there and play with it.

  • Um There are now some issues now because everyone's on the theory and I'm sure you can talk about, but I think that's a pretty good explanation.

  • And just to be clear, you think you still have core positions in Bitcoin core positions and in theory um because you think they're going up, but you think also the big asymmetrical gains Are in some of these new D five platforms.

  • Yeah, absolutely.

  • I mean we we've seen that over the last year, really two years now, uh Dave I really started kind of coming to the forefront, you know, near the end of 2000 and 1920 20 throughout the first six months of the year.

  • It really started ramping up and then we call it the defi summer that happened last year when things really exploded.

  • And yeah there's certainly a lot of problems with ethereum but those problems actually open up opportunities for other coins.

  • Um but we've seen some of the biggest gains over the last two years or anything projects like of projects like synthetic projects like compound these are you know, a lot of them are yield farming or yield aggregators where people can do flash loans and do a lot of lending and receive the interest high a.

  • P.

  • Y.

  • Returns and things like that through these platforms.

  • And because these platforms are working so much and there's so much what we call tvl total value locked onto these platforms, billions of dollars I think right now it's at $50 billion total in defy uh, there was, I think the peak of the market, I think it was like 84 billion or something like that.

  • That was locked into these platforms.

  • The coins themselves are actually going up massively.

  • Like if you look at a, You can't even quantify the returns of Abe for the last year, that's how high they were.

  • It's like trying to quantify the returns from Bitcoin since 2009.

  • It doesn't even make sense to put a percent on it.

  • That's how much it rose.

  • And so these platforms are the future because like you said, they're unlocking the ability for the average person to be able to take part in the same kinds of financial instruments that the big money has been doing for years.

  • It brings the derivatives market to the individual.

  • There's a quadrillion dollars in derivatives out there.

  • We're never gonna stop derivatives, which are basically just I o u s.

  • But now the individual has the power to take advantage of those, just the hedge funds in the institutions.

  • And ethereum is bringing a lot of this uh to the forefront and ethereum is the backbone of decentralized finance.

  • But there are other chains and other projects that are starting to, you know, build ecosystems uh into this, of course, Cardinal and polka dot, those are two massive projects.

  • They're not fully launched in their full capabilities yet there a theory uh Cardona and polka dot right now, which I favor Cardona by a long shot over polka dot.

  • I do like polka 0.0.0.2, I own a lot of polka dot, but these two projects are kind of where ethereum was in early 2018 in terms of their ecosystem.

  • So it was just ramping up building the ecosystem, building the DAp or as you call them d apps, decentralized applications, that's what that stands were.

  • So cardinal and polka dot over the next year, we're going to start having those come out on their platforms.

  • They're gonna have coins launched on top of them of a synthetic compound.

  • These are all coins that were launched on the ethereum Blockchain.

  • We'll have similar coins launched on these other chains.

  • So you look at those coins and how much they rose and how much those platforms uh you know, killed it.

  • These other chains will have also similar projects, similar platform, similar coins as well.

  • And I do just, you know, before we move on, I do want to reiterate what you said a second ago, which was my number one core position is still in Bitcoin.

  • Bitcoin.

  • To me it is digital gold.

  • It does lead the market.

  • I do believe ethereum assuming we do return to a bull trend this year.

  • I do believe that theory has a great chance to pass Bitcoin in market cap this year or early next year.

  • But our core position is still in Bitcoin because the better you do financially, the better you want to hedge.

  • Right?

  • So that's why we actually have Bitcoin is our core portfolio because it goes down the least compared to the other coins they dropped massively in bear markets.

  • But Bitcoin we found as a safe haven for a lot of our crypto gains.

  • One way to look at it is the end goal for people should always be trying to collect more Bitcoin and more theory in the institutions, the hedge funds, the manipulation, the whales, they want you to sell your Bitcoin, they want you to sell your ethereum.

  • Do not sell those two coins no matter what, Do not sell that.

  • You want to hold on to those, You want to accumulate those.

  • That's what gives you a voice in the governance of these projects in the future.

  • That's only then it gives you a voice is being able to own those coins derivatives markets.

  • Bitcoin futures contracts at the futures contracts, their paper Bitcoin, it's paper ethereum, you don't actually own it.

  • You want to get on coin base, you don't want to go to great scale, you don't want to buy stock in Bitcoin through different trusts, you want to own Bitcoin.

  • Own In theory, if you can afford to own one Bitcoin and you don't own one Bitcoin, you're making probably the biggest mistake of your life defy, which stands for decentralized finance.

  • This is a $9 trillion per year marketplace.

  • I want to talk about our brand new defy Academy.

  • Our first program is called the defi Accelerator and we have been absolutely inundated with applications from around the world.

  • I'm gonna be talking about how you can profit from what I'm calling the greatest dislocation of wealth in human history, decentralized finance is already revolutionizing the world of finance.

  • You just don't know it yet.

  • I'm going to talk about the difference between defy and cryptocurrencies.

  • There's a big difference.

  • I want to go into how to trade the markets.

  • It takes a lot of discipline, it takes emotional discipline, it takes intelligence.

  • It's not an easy thing to do.

  • I'm looking for a small group of people who want to actively participate in this upcoming Deep by Revolution.

  • I'm looking for serious individuals only with real network who want to build this exciting financial infrastructure.

  • I'm looking for partners, collaborators, investors, colleagues who want to join forces and create real value and generational wealth.

  • If you're one of those people, go to London dot tv forward slash defy and submit your application now, you've got a chance.

  • Life all comes down to a few moments.

  • You have a chance now to join me on this incredible adventure.

  • For the next 10 years, it will change your life.

  • The lifes of your Children and grandchildren.

  • Maybe the life of billions of people on this planet.

  • What are you gonna do?

  • What's the choice that you're going to make?

  • Mhm.

  • Yeah.

  • Yeah.

Yeah.

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You Have The Power To Change Your Finance Future ? Ben Armstrong on London Real With Brian Rose

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    林宜悉 posted on 2021/06/30
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