Bitcoin is the greatest store of value ever created in mankind. It might be some glitch in the matrix that they gave us when they realized the f***ing fiat system was about to implode. I don't know where it came from.
I don't know where it's going. But if you ask me where I prefer storing my money, I want to store it in something that I know is real. And Bitcoin is as real as it gets. Let's say, for example, you've got the person who has $1,000, right? That they are able to invest or use for their growth.
For them to be able to, say, get to $10,000, what sort of things would you do if you were in that position? So right now, we'd probably play. So the big thing that I'm looking at right now is just the Ethereum ETF getting approved. That's the biggest thing I'm looking at.
The bull run is just getting started. What are your plays? What are you keeping an eye on? And what sort of predictions do you have? I see a Solana, ETH over the next 18 months.
I think Bitcoin trending sideways is not only good. It's something that we want. When Bitcoin taps all-time high again, $70,000 plus, your altcoins are going to rip and they're going to do extremely well.
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Welcome everyone back to the Words of Wisdom podcast, still the number one. trading podcast in the world, the fastest growing. Thanks to all of you and our incredible guests, talking of which we have a man that needs no introduction at all. Someone who's been in the crypto space very heavily. A lot of people want to hear his thoughts and he's shared a lot of alpha over the years as well.
Luke Belmar. Thank you, brother. Thanks for having me. Thank you for bringing the sun to London.
I brought the sun, bro. Bitcoin's pumping. The market's doing well. We're happy, thankfully.
Donald Trump did not get shot and killed because if not today, the trading topics would be a lot different. The markets would have been destroyed. So I like that, that he was taken care of. He's good to go.
Markets seem like they're ready for a phenomenal Q3 and Q4. Definitely. I know we spoke very briefly then, literally, I think the day after, two days after to arrange the podcast. And then since then, we've had Biden now saying he's not going to continue on. The landscape is crazy because even...
The US elections are so important, of course, but then even in this one year we've had the UK elections that just happened. The French elections are going on as well. It's like there's a lot of stuff happening in 2020. A lot of changes.
Yeah. Yeah, a lot of changes on the chessboard per se. But at the end of the day, pattern recognition is key. When you identify patterns, all you have to do is you have to bet towards where you see the cycle headed.
So when you see usually, you know, Republican presidencies take. place, the markets tend to perform extremely well. So people are already pricing in Trump winning, him supporting Bitcoin, him supporting the crypto space, him starting to open up trade a little bit more, reduce corporate tax, which is going to bring more business to America.
So he has all these things that are cooking up, markets pricing it in, and I think we are headed somewhere excited. I'm pumped for it. Definitely. I think it's going to...
It's going to happen? Do you think he's going to become president again? I think he's going to become president. I think more so than anything, it's going to give us four years where maybe wars and turmoil are going to be less crazy due to the fact that Russia, China, right now they don't respect the United States. It's very simple, very straightforward.
Your president can't walk upstairs, right? So United States right now is in a little bit of a vulnerable situation. We have Saudi Arabia right now beginning to allow the exchange of oil in other currencies, not just the petrodollar, because that agreement is up. So now what held the dollar strong is no longer there, so now you have force. So Donald Trump has to go around and start making relationships again, mending things up with countries.
And I think that that's pretty much what his tenure is going to look like. I think it might be crazy from the inside. And we might see the attempts of potential takeover of elections.
But certain things we can't say because they're going to go on YouTube. But, yeah. I find it so fascinating, especially even with Biden stepping down.
It would be a shock to the masses. But I've been hearing about it on Twitter for weeks or maybe months. Kind of necessary, as you said, like when your president's falling over, falling upstairs and not knowing where to go after a speech. But it is crazy. I know Donald Trump's really heavily been quite vocal on.
his support for crypto and Bitcoin, for example. I think he's speaking actually at the Bitcoin conference. But is there any worry that it's one of those things where it's to get the votes, get the election, and then no action afterwards?
I mean, yes and no. Yes in the aspect of, obviously, there's a huge voter base that supports Bitcoin. Therefore, if you support it by proxy, they'll like you more.
But there's a ton of billionaires and a ton of lobbying taking place on the crypto side to make sure that crypto wins. Right now you see a lot of exchanges, I talked to a lot of head of exchanges, and they're telling me, you know, we're getting crackdowns from either the SEC or we're getting crackdowns now from a new organization in Europe called MICA, M-I-C-A, that is basically the SEC that blankets all of Europe. So now all of these exchanges need to be compliant under this new European SEC.
So they're starting to build DEXs and become decentralized because now politics is becoming a tool of weaponry. So... You're seeing a lot of billionaires, a lot of very rich companies like Coinbase go to Capitol Hill and say, hey, like we want crypto to be taken care of.
So if Donald Trump is taking money from these guys, these guys are getting favors in return. It's the name of the game. So he wants to keep crypto in house. Ideally, the United States build some sort of Bitcoin treasury reserve. We see the potentiality of Larry Fink becoming maybe involved in the treasury.
or maybe involved in some sort of financial position advising the president. And we know that he's very pro-Bitcoin. We're now with the Bitcoin ETFs. So now we see the institutionalization of Bitcoin.
Now we need it to go to the next phase, which is government awareness. And naturally, all these suits, right? Larry Fink and company, dude, their bags are packed. If you don't think so, then you haven't been paying attention.
Fidelity's been buying Bitcoin since 2015, mining it. Right? So they're ready to play the game. We see the Ethereum ETF rolling around the potentiality of a Solana ETF.
So now the legal battles are taken care of. Now we know what process to take. But unless the United States, I mean, they've obviously realized it.
And I think that this is where it's headed with Trump. Unless they kind of lean in and validate crypto internally, crypto is going to go to Dubai, crypto is going to go to Singapore, crypto is going to go overseas. And their companies, they don't care. They'll do it.
They'll leave. They've proven it. So the U.S. needs to cultivate it for their own safety and security, for the security of the currency and things of this nature.
So I think it's going to be a good thing for crypto. I think we're heading into a really good season, a bullish season and a season that has been expected for a really long period of time, especially with the ETF approvals beyond just the one of Bitcoin. Talking of the ETF approvals, one thing I wanted to ask you, because I know it's highlighted a lot and it's obviously changing the landscape of cryptocurrency as a whole and the access and the...
finances that are going into it now and the capital rolling in. But I know there'll be people out there as part of the audience who won't understand how important that is or what the sort of dynamic of the ETFs being approved and being made makes for the market. Could you break that down slightly of like, why is it that these ETFs being approved and being made is so important? So it's all about the path of least resistance.
The ETF is the path of least resistance for liquidity and big money to come in. Many of these companies that will invest in an ETF, in a mutual fund, they have investors, policies, things of this nature that they need to comply with. Telling them, hey, go buy Bitcoin and hold it in a ledger is not viable for these companies. An exchange traded fund is the pulling of this money in order to attack or purchase or acquire a certain asset class. In this case, you have the Bitcoin ETF.
So the Bitcoin ETF. is a cumulative of a lot of companies that have interest in Bitcoin and want Bitcoin exposure without having direct exposure to Bitcoin. So you have the custody or the middleman.
So you don't just have BlackRock, you have a ton of other companies that are right now launching their ETFs, not just in the United States, but overseas. And what it's doing is allowing the path of least resistance for institutional capital, people that have policies and rules on how their money is supposed to be managed, and is a lot more conservative than we think, pouring into Bitcoin. Number two, we have sovereign states. Sovereign states and sovereign individuals now getting into Bitcoin.
A lot of them do it through big banks, do it through big organizations. buying Bitcoin directly for them doesn't make sense. They're in it for the trade.
They're in it for the money. They don't necessarily care about holding the Bitcoin itself. Might as well just leave it with Coinbase custody. That's how they think about it. So the reason it's important is because it's the path of least resistance, number one.
Number two, it's the validation that it's actually a financial market that is accepted. Once the US accepts something as a national asset class or something that the market will kind of consider, it becomes a standard worldwide. So now Bitcoin has become normalized, which is a phenomenal thing.
And it's given us a guideline as to what we can and can't do within the crypto space that allows other projects and other companies and other tokens to be able to follow that same path. The Ethereum ETF is on the way as well. And I think that that one's going to be massively lucrative. I'm very bullish on ETH.
We're sitting at a, I think right now, a $3,400 ETH, very cheap, under all time high. And We could see it push to five, six, even $10,000 with a very bullish scenario. In terms of like where we're at right now, we've hovered around.
We made an all time high ever so slightly on Bitcoin. Yeah. And then we had a pullback and we've just sort of been hovering, you know, for a good amount of months now.
You know, what are your thoughts? What is the market trying to wait for? Do you think it's like the elections is playing a part of that? Is there any sort of factors that you think are keeping prices sort of subdued at the moment?
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If you want to join them, 20% off using the code RIZ, and the link is in the description below. Now let's get back to the episode. I mean, Bitcoin went from $20,000 to $60,000 in the span of a couple months. Now you're just consolidating for another leg up. I mean, the market hasn't really done much.
The altcoins obviously have bled out. That's naturally what happens when Bitcoin trends sideways and you have meme coins kind of becoming the main source of liquidity for the market. Everything else kind of gets pulled.
But now you're seeing projects resurface. But what I like about the market is that the market, every single bull run becomes more intelligent. They figure out how they're getting finessed. They figure out, hey, what are fake promises or what are real projects? And they're just starting to validate what the market is actually about, which, believe it or not, it's around meme coins and it's around culture and it's around gambling and fun and crazy activities.
This idea of these boring. projects, to have nine-year roadmaps on how tokens are going to... People have fallen for so much of this that they don't care anymore.
So we're in a completely different market. We're in a lot of a more volatile, fun market, in my opinion, that gives access and opportunity to anybody. I think Bitcoin trending sideways is not only good, it's something that we want because it allows us to back our bags.
And it allows us to understand that on the next leg up, if you're positioned properly with these altcoins that are down 70, 80%, when Bitcoin taps all time high again, $70,000 plus, your altcoins are going to rip and they're going to do extremely well. So what am I allocating to? Number one, always betting on winning teams, right? That's the main narrative.
So finding which ones are the popular teams that understand marketing, distribution and community. Super key, because at the end of the day, how many layer one blockchains exist? How many layer two?
It's infinite. It's a ton of them, but it's the one that have the eyeballs. So we'll go into a couple of those later on. And then the second one is narratives and trends. Like what are the hot narratives?
What are the trends? Well, one of the narratives right now is AI. Okay, well, what's the trend inside of crypto for AI? And finding those, identifying those, and then finding the projects that align to those things.
So I think it's good. Let's trend sideways a little bit more. No issue whatsoever. But obviously Bitcoin always makes lower highs and it's going to continue going up. One thing I have heard you speak on.
on another podcast in terms of the meme coins and i found it fascinating because i didn't really think of it in that way as you've already just highlighted is like there was a time where we would look and when i got into crypto it was a similar thing look at the roadmap not that i would do it extensively but it was a case where look at the roadmap you know what is the use case for this particular coin and what's it going to do for the world and then you know as cycles go on you invest in these coins yeah they move and you make some profits and stuff but nothing ends up happening with that roadmap nothing ends up happening and being utilized. And but yet, what you mentioned in terms of the meme coins is that people are now focused on community, people are focused on, there is no roadmap, you're believing into this meme, this what it's doing for culture, and therefore it's taking away the sort of need for like, to be validated by this team or roadmap that normally nine times out of ten doesn't end up happening anyway. And it's a difficult thing. Also, if you look at it as somebody who's investing into these things, think about it logically.
Like most projects will go to zero, but think about it logically. Let's say you fund a company, okay, a couple million dollars. What's the experience of the team actually?
Some experience, maybe others, not that much experience. Super well-funded, which means you're already... killing the drive and the hunger, right?
They already have the money. They already have the tokens. How long till they deliver a product? Four, five, six years.
How are you going to keep attention during a bear market? You can't. Your project ends up getting absolutely destroyed. And then the final aspect is utility.
How many people are actually utilizing what you have? You look at Sandbox or Decentraland from last bull run. Dude, there was like a hundred people playing the game. So you have a multi-billion dollar inflated market cap.
with no real product, no real audience. And that's why these things aren't sustainable. So when people, like you said, they look at all these big roadmaps and they're like, oh, well, you know, I'm going to invest into something legit.
Realize that 90% of these guys, they're not going to fulfill anything that they said. They don't have the capabilities and it's almost impossible to do. How so?
You're trying to build a company that's for profit, generating some sort of revenue, and then you're trying to maintain a chart. a crypto chart. These are two full-time ecosystems in and of themselves. Imagine launching a publicly traded company and giving it a stock within its first day and having the CEO worry about the stock and the floor price and the performance of the company. What is the success rate of that?
Almost non-existent. You have the Ethereums, you have the instances where teams, the Solanas come together, the Avalanches, and you have superstar teams, you have the Tons, but That's one in a thousand. Looking and finding these is difficult.
But the reason meme culture is accepted is because people know what they're getting. It's very transparent. It's the most honest part of crypto is memes. You know what you're getting.
You're getting a meme coin. No lies. It's so true. And it's very rare to find.
One thing that we've seen over the recent months, though, we've seen like a huge... Well, I've noticed it. I'm not sure about yourself, but like...
A huge uptick in terms of celebrity creating coins and unfortunately a lot of them are promoting it and by the sounds of it and what I'm reading is that they're being approached to do this then afterwards it's getting rugged and then they're wondering as well like what's happened but it just and some aren't though some are still performing to this day. What are your thoughts on that though because again it's kind of off the back of the meme culture and so the meme coins performances that they're probably doing this. But again, there's no use case there.
There's not really much for the community. It's more so just that they're using their influence to pump these coins up. The thing about memes is you can't force them.
They either work or they don't. The reason Doge works is because everybody fucks with it. Not everybody's going to fuck with Iggy's ass on a photo.
I don't buy that token. I think that's dumb. But that's just me.
It's fine, but that's just dumb. Why would I put my money there? I don't.
I want culture to pump my bags, not an influencer. An influencer isn't culture. You look at 4chan, you look at Reddit, dude, it's all pay-pays, it's all fucking doges everywhere.
That's what people want to talk about. That's where the attention is. So what you're betting on is attention. You're not betting on people. You're betting now on that individual having attention.
Well, how much attention can that single individual actually garner? Not much. So unless they're building a movement, which you can't really build when you're ass is the logo of the of the token right this it doesn't work that way because that's not how culture functions then it doesn't make sense so i'm always looking at what are cultural plays what is it that people spend their time typing doing interacting with and then i bet on that i don't bet on an individual i bet on the influence of the collective idea in this case a dogecoin would make complete sense they've been cooking up the dogecoin charts since 2015 Everybody's been talking about it. Elon eventually talked about it.
That's the echelons of culture with 100 million viewers. So you need to be paying attention to where the money goes, and the money goes always where the attention flows. In terms of NFTs, we had a whole market of NFTs. It was literally, so far, it feels like a bubble.
Like it went to highs. Even myself bought two at a time and didn't end up selling them. And now we don't really hear of NFTs. We don't really see any sort of movement over there. And yet there were talks of beyond just the art, just beyond the the sort of hype of what we saw of it being having like a use case very similar to what we were talking about in terms of previous tokens.
Do you think there's a future for NFTs in that market? Absolutely. I mean, the NFT technology is incredible.
So the NFT technology, your ability to track things, your ability to group things, your ability to create smart contracts and interact with individuals, and be able to create a different level of experience inside of the blockchain is going to be a technology that people are already using. People are using it already to put people's biometrics on the blockchain. Right.
And categorize them with an NFT. Soulbound tokens. Right. Another thing that you can attach permanently to a wallet.
You introduce that. Now you can add memberships or IDs or digital collectibles, things that people actually utilize. We begin to see the emergence of high quality games and games that are going to last for an extended period of time.
Let me give you an example. We have Grand Theft Auto 6 on the way. Dude, I'm going to be playing the fuck out of that game. You know why?
Because people are going to be building and doing business on that thing for the next 10 years. Do you want to make money? Get on Grand Theft Auto and get good.
They're about to roll out some digital currency feature. If they don't, it'd be foolish of them. But imagine now you have a digital currency attached to a game like Grand Theft Auto.
So these things need to be digitalized. So digital collectibles, these are going to be your non-fungible assets. Imagine people, instead of playing Counter-Strike, right, and collecting all these skins or the Fortnite skins.
actually had the ability to what own trade and sell that thing that they worked hard for the problem is right now it's the risk factor so the gaming community doesn't like it they're kind of like the reddit community they're like hey fuck crypto okay i get it that's fine it's going to come inevitably at some point maybe the next generation but it'll come so you have the gaming community it doesn't necessarily like it because it was really fucking ruggy and it was weird but that was its first phase its first version It's like the 2017 bull run. You had crypto tokens that were like super weird and that hit multi-billion dollar market caps and they produced nothing. And they were the first cycle of altcoins and they were garbage. But better projects emerged over time. So better NFT companies and better use cases will emerge over time.
One of them is Pudgy Penguins, for example. It's the number one NFT in the world. I'm one of the co-owners in the company.
And the value of the collectible is the IP. So Pudgy Penguins generates billions of views a year. And the value is attached to what? The attention.
The attention and the distribution. So imagine, for example, now you have Fortnite or the likes of Fortnite saying, hey, you know what? Let's try this digital collectible.
The issue isn't the digital collectible. The issue is, once again, we were talking about the attention. Remember, it's like you have to go where the culture is.
The thing is, culture right now just hasn't accepted that as a viable means of something that they want. But it doesn't mean that in the future, a single game or single entity won't adopt it. So I'm envisioning, you know, one of these projects, one of these big AAA games saying, hey, you know what, fuck it, let's incorporate some sort of crypto feature. And whoever does it is going to be extremely successful. It just has to be where the pocket of attention is.
Today, meme coins have replaced NFTs. they'd replace them because most NFTs were kind of like meme culture, but you have X amount of units, let's say five or 10,000 units. So your product or your project was only as good as the floor price. So only as good as your weakest holder.
Now we've translated to meme coins, right? You don't have to own a thousand dollar piece in order to be part of a collection. You can own $4 on Solana. You don't have $50 gas fees.
So Right now, the meme culture, what we had in NFTs, the degeneracy has moved over to meme culture. And I don't see it moving back the same way that it used to because of the liquidity that is attached to the meme culture. It's so easy to get in and out of positions.
The risk is so much smaller. But then you find these blue chips, these winning products like Pudgy Penguins, this winning IP. And by owning the NFT, you're basically betting on the IP to continue succeeding long term. I love that and I think it's so important like what you've highlighted already in terms of attention because even with the the meme market for example I think a lot of people they what we've seen anyway generally with crypto investing and you know just generally with social media as well is that people just they will hear sound but sound bites or people saying something and they'll just go run it without any research or any knowledge so like with the meme coins for example they'll see they'll hear one let's say just a random one and they'll just invest they won't even look to manage or look at a chart or whatever it may be What are your thoughts when looking at memes and managing your positions whenever invested? What is it that you would look for in terms of how to get out?
Or would you look to invest and then is there any sort of break-even strategy that you would go for? Because I know a lot of people just hold. I'm big on memes. So one is if you're just reading something on Twitter and you buy it. You're not investing, you're gambling, and you're depending on somebody else to make you money.
95% of the time, you're going to lose it because you don't understand the thesis or the analysis that the other person has done. You're just trusting them. Now there's people out there that have good track records. Okay, look at what they're saying, but don't just take it.
Do your own research. What is your own research in a very practical way? Specifically in crypto, what do you bet on?
One, winning teams, right? So you bet on winning teams. Who's the CMO? What's their strategy in order to acquire new eyeballs?
Because that's what matters in meme cultures about who can acquire the attention. Now you begin to see kind of narrative swarm. You saw Pepe kind of take off. Okay, and then I was like, okay, Pepe took off and it took off on the Ethereum chain.
And then you started hearing something about the lines of something called the boys club. And you're like, okay, what's the boys club? Oh, well, you know, Pepe, the character that everybody knows, he's part of this comic book thing.
It's called the boys club. I'm like, okay, well, there's other characters to that in that thing as well. And then I see a meme pop up on base chain called Brett. And I look at the character.
I'm like, okay, this thing's at a billion dollar market cap. Okay, this is the second character of this thing. So I'm like, okay, what are these meme guys doing?
Then I go to Solana and there's the third one, which is called Wolf. And then I'm like, okay, so these guys are building a narrative. So I catch on to the narrative and I start buying. And the market starts. performing in that direction because the narrative makes sense.
The narrative is, hey, Pepe took off, therefore the other ones are going to take off as well because they're part of the same idea. Enough people are believing into this concept and the performance is doing extremely well. Number one, number two, is their ability to list on exchanges and their ability to access liquidity. The higher risk is incurred in the beginning when you're buying something off of, you know, your, your deck screen or your deck's tools that is like. day one, day two, day three.
But once something gets listed on an exchange, let's say Bybit or KuCoin, even some meme coins eventually end up on Binance, that's the end of the cycle, for the most part, who's left to buy, right? So once you get onto the exchange, even in crypto in general, you need to understand that the returns are not going to be the same as the space that's operating inside of the FI ecosystem. So if you're looking at Robinhood, right, and you're buying Doge thinking that you're part of the meme culture. Well, Doge, yes, is obviously OG meme, but it's no longer going to give you the same multiples in the same place that it used to the last bull run.
Dogecoin has kind of hit that category where it's kind of become accepted as money. Like if I was to ask you, hey, right now I'll give you 10,000 pounds. Would you save it in Zimbabwe dollars or in Doge?
In Doge. So which one's more real money? You know what I mean? The world's fucking crazy.
So once you ask yourself that question and you answer that and you're like, You know what? I prefer holding Dogecoin and some of my Argentina team members, I'll pay them in Bitcoin and they'll hold Bitcoin instead of holding the Argentine peso. Which one's the actual meme coin? Like which one's the shit coin?
Like you begin to evaluate what are all the categories of a shit coin? The fiat system represents all of them. You don't know who the fucking dev is. The dev can print infinite supply.
The dev can rug you. The dev can take your tokens, the dev can freeze your supply, and they can tell you where to and where not to transact. I don't want that currency. That currency's shit.
If that had a different token instead of a US dollar, had a different name, nobody would buy it. Oh yeah, I buy it, and then more of it gets printed, and then that gets dispersed, and therefore my shit's worth less. That's what the meme coin is.
That's the joke. So once you break from the illusion of, oh, meme coin this, meme coin that, dude, go to the penny stock market. Half of those companies are fucking memes.
They're a joke. Biotech this, biotech that. Bro, it's a couple of news articles in a shack in the middle of the woods.
You don't think so? Okay, go watch the Wolf of Wall Street again, dude. It's a crazy environment out there.
And now what you're seeing is meme coins being a true form of this idea of people wanting to make fast money. But now it's not this garbage illusion of whether this company's real or not real fake revenues. No, there's a meme coin. And whether culture adopts it or not, it's your gamble and it's your play.
But it's to me the most honest part of all of crypto. No, no. The way you broke it down, I think really represents that as well.
And one thing that you mentioned there, I think was so important as well. Like we've said about how the money is where the attention is. But to make money based on what you said in terms of how you sort of figured out that meme there, you need to pay attention as well of what's happening in the market.
For sure. on the different chains because i think going back to what we were saying a lot of people were looking for a signal looking for someone to say something and follow that advice while the true professionals the people who actually make the returns that everyone wants to make within any of the markets especially crypto are the ones who are paying attention that they're They know what's happening on the different chains. And it takes time. And I think it's being willing to give that time because most people, unfortunately, are going down that sort of lazy route that they want something out of life, but they're just not willing to put in the necessary work, even though the work might be just research or the work might be, you know, just checking different exchanges and the prices that are going on. Or, as you say, memes and being, knowing what the sort of culture is reacting to and responding to or knowing which...
part of the process as you mentioned like once you get to the exchanges you're sort of towards the end of that process so knowing which which part of that process you're at now what would you say to those people out there who are really wanting to get involved in crypto especially as we're growing you know the industry's grown phenomenally over the last 10 years but where we're going as you say it could be the next generation before we start to see real mass adoption on that level but for those who really are interested but they don't know where to start or they they're not They haven't got that right mindset. As I said, they're still looking at the signal route rather than actually wanting to make that money and paying attention. Now, what would you say to those people? Let's take a break for a minute there, guys, because I want to tell you about our brand new sponsor, WAP. A one-stop shop for all things digital assets and digital community.
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Now, there's a link in the description to book a call directly with them so you can get your community set up today. Check that out. Let's get back to the episode. The year is 1848. And in the eastern colonies of the United States, rumors begin to surface that in the west they had found gold near something known as the American River. The president validates it about a couple months later and 300,000 migrants moved from east to west in the hopes of finding gold.
Today we live in the digital gold rush. Your ability to access information, resources, connections, at the fingertips is insane. It's something that has never been possible before.
Opportunity without leaving the comfort of your home. Is it easy? It's a lot easier than going from east to west dealing with the thieves, the bad terrains, the dangerous animals. But do you think that it was only miners that went to the west? No, people changed their current profession.
There was doctors, lawyers, bankers that said, hey, you know what? There's an opportunity out there. that will not be there forever, and I need to capitalize on it. And the risk takers, the people that understand that there's opportunity outside of comfort, are the ones that pioneer these things.
But what you come to realize is that even if you say, hey, you know what, I don't want the risk of that wave one of going to California and experiencing the California Gold Rush. It's too risky for me. Okay, I get it.
I agree. But what you need to understand is that From that gold rush, a 200-year gold industry was born. There was two individuals that were moving and transporting people from east to west and moving and transporting gold.
Their last name is Wells. The other one, his last name, Fargo. The bank, Wells Fargo, today manages trillions of dollars of assets. But it started when the miners needed somewhere to put their gold. So the gold rush...
created bilateral businesses and opportunities as well. So you don't have to be in crypto. What you need to understand is crypto is an aspect of what?
The macro trend, the macro narrative, which is people are spending all of their day on the internet. You can't be here with me right now because we have limitations, human limitations, things that you can't control. But because of the internet, because of technology, you're basically here with us without any of the discomfort.
without any of the bills, without any of anything. It's just pure gain. The digital gold rush is here.
Another individual, he was hanging out in one of these dry markets and he started hearing the miners complain that their knees hurt. that their pockets were ripping when they were trying to put the gold or their tools. So he began to work on finding a solution.
And he came up with denim, jeans. His name was Levi Strauss. Did he mine for gold? No, but he got rich in the process because he solved a problem understanding that within the macro trend, there was opportunity. For me, hey, it's crypto.
You know, I understand the market. I've been in Bitcoin since $588, 2016. It'd be foolish of me to leave after spending eight years in the space. I've been in e-commerce, so I understand how digital real estate works.
And when you visualize what e-commerce is, you know, you go to one of like Piccadilly Square and you see all the beautiful businesses. Say you pick any business on any corner. That is a physical representation of what could be a digital plot of land.
And the internet just happens to have more foot traffic than the physical space. So by creating a digital experience, you capitalize on the digital foot traffic. So building businesses on the internet, making money online is the new opportunity. So it goes beyond crypto because I know crypto can be niche for some people, but it can be Forex.
It can be the stock market. It can be any sort of area that taps into the internet. The failure, or to me, the missed opportunity is not taking advantage of the internet, how easy and accessible it is. for all of us.
I think that's the opportunity, bro. I couldn't agree more. I actually couldn't agree more. And one thing off the back of that is like, where do you feel like that space is heading? Because as you said, it's in such a short space of time, it's been created and it's created such a huge opportunity.
But where do you think it's heading in the, say, near future, in the next five to 10 years? What is crypto? Crypto is a form of money.
So what is money? Money is a technological advancement of commerce. 4,000 years ago, you owned a beautiful plot of land with great beautiful olive trees, and I owned 50, maybe 70 cows. And I saw that plot of land.
I said, you know what? I want that plot of land. Let me go to Riz and ask him, hey, how much is it? Well, you already have cows, actually, so you don't need the cows that I have, so we can't actually transact. So I have to go sell my cows for some pigeons, because you want the pigeons.
Now I come back, I bring you the pigeons. One of them dies, so I have to go back and get another pigeon. And then finally I get the plot of land.
Now you have the pigeons, and you have to go figure out somebody that wants pigeons in exchange for you to get the next service or the next good. So the problem was with the bartering system, there was no ability to scale, no ability to build monopolies, because there was no ability to sustain wealth, and there was no, what, medium of exchange that we both agreed upon. We introduced the next form of... bartering, the next form of commerce, coinage.
Coinage is a technological revolution. It was the first time that we all agreed upon what was something and what was the store of value. So successful merchants, kings, they began to hoard it and they began to build treasuries.
And now they began to conquer more lands because they no longer were limited by the limitations of bartering. You could take the coins, they wouldn't rot. You would sell the gold in China, you would sell the gold in India, you would sell the gold in Paris, and it would still be counted as gold.
So now you had the ability for scale. The issue was now King started realizing, hey, maybe I can shave a little bit off the top of the coin and make some new coins. And you know what, maybe the people won't notice that I'm, you know, printing coins out of thin air. Maybe I'll add some alloy or some metal instead of the silver.
diluting the currency. So they began to realize, hey, like coinage now can be forged. So we need another system.
Now people can no longer have their own system. We need to have something centralized. Everybody's managing on gold.
The banks are holding gold. Let's get rid of the gold standard. Let's introduce paper money.
Paper money, obviously, if you have, let's say, a kilo worth of gold, you can't be carrying that with your horse hanging around town. No, you have paper receipts that the bank gives you and people began exchanging paper receipts the receipts of what the units of gold that were in the bank but then the banks got cheeky and they said you know what nobody's checking our bank reserves so what if we issue more paper than we actually have gold reserves and the french noticed okay these motherfucking americans they're printing more paper handing it out to people than the gold that they have in the reserves so they came in they wiped out all the reserves, collapsing the economy. So what did they have to do?
They had to introduce the gold standard. Getting rid of the gold standard. Why? Well, now we just can print as much money as we want, and it's not pegged by gold.
And now we were introduced with paper. And then credit cards rolled around. Yeah, I still had to go into the bank and deal with paper, but I could transact and buy things with a piece of plastic.
Okay, so now digital money was introduced. But now we have the battle of what is the digital money that we want to adopt. And in these new crossroads of technological advancement, you have something that's born known as Bitcoin. Bitcoin is the permissionless open ledger. Everybody knows how much of it exists, who owns what based off of, you know, obviously you don't know who owns what wallet, but you know what wallet owns how much.
Everything is open, everything is transparent, and everything is what? Peer to peer. It's the purest form of going back 2000 years and transacting gold bar for gold bar in a digital format.
It is the evolution of money. It is the natural evolution of money. Now you have the old system, the banking system, the banking cartel that takes a fee off of us transacting. So what is the rule or what is the need of a bank today?
What is the purpose of a bank? Well, you know, Luke, the purpose of the bank is to store your deposits. No, a bank does not hold deposits.
If they hold deposits, why do they give you interest on your deposit? It's not a deposit. The moment they give you an interest on it, it's a loan.
You're loaning them money. They're giving you an interest. They're taking that money. They're investing it. It's not a deposit.
It's a loan. Once they give you interest, that thing becomes a liability on their balance. What you're seeing displayed on your checking account is just a record of how much the bank owes you.
So the purpose of the bank isn't to hold deposits. Well, the purpose of the bank, Luke, is to fractionalize money. Well, no, that's not the purpose of the bank.
It doesn't fractionalize money. What's the purpose of the bank? The purpose of the bank is credit creation.
It creates loans. It's in the business of buying and selling securities. So the bank is in the business of credit creation, and everything around us is getting inflated and more expensive due to the fact that we're creating credit. that is being utilized to buy Louis Vuitton bags. It's not productive credit.
It's not credit that adds to the GDP. We enter a situation whereby the dilution of our money becomes so big that we no longer trust it. But now we enter a very dangerous situation. If we don't have an alternative payment system, the tokenization or the programmability of digital money, like a central bank digital currency, becomes very scary.
Because now they don't want to just issue the currency. They want to control the rules as to how you can use the currency. So for example, hey, Riz, you've already spent, you know what?
You spent two hours already with the light on. Now your light gets turned off because your curfew is up. And if not, we'll turn off your power bill and your cards won't work. Oh, you didn't get vaccinated? Oh, you went five kilometers past your house curfew?
No worries. Your cards just won't work. You have no freedom. Back in the day, at least you had cash, you could do whatever you wanted. So is that the system that you want?
The answer is no. What is the alternative system to that digital revolution, that next advancement of money? In my opinion, it's Bitcoin, digital currencies, things that are decentralized. So it's a little bit of how I've been thinking about and theorizing this idea of Bitcoin and rationalizing whether digital currencies, decentralized ones, fighting against centralized institutions are going to last. And I think people will fight for it.
I think they will. Absolutely. I always think about that.
I think about it a lot. Will people actually do it? We always hope.
I'm always very hopeful and think the best of people. But I think one of the plays that the system talks about when it comes to CBDCs is that they will give you a universal basic income. And that's essentially how they'll get the masses to accept it. Because it's free money. What are your thoughts on that?
Well, there's nothing that is free. And once you hit universal basic income, now you have to follow a set of rules and guidelines in order to receive that universal basic income. And that's where the issue is going to come.
And part of me understands it. I'll explain to you the side that understands it. And I'll explain to you the side that scares me. The side that I understand is what happens when AI in 50 years replaces half of the white collar jobs that are around? What are people going to do?
A lot of people are not going to do anything. So there's a lot of people that are looking at, hey, how do we subsidize all these individuals that will inevitably have no work? On the other hand.
People will acquire new tasks and I think people will also adapt to working in an environment with AI. So you just can't put all of people on a universal basic income and then sustain them. It doesn't work that way. You don't produce a productive society, it's going to crumble.
So on one side, I get it. On the other side, I'm like, hey, you know, once you start giving people free money, people have no intention to work. What's that money actually worth?
Who's producing things of value? And how do I make sure that now this digital money that you give me isn't programmed in some way, shape or form that when I get out of line, that no longer becomes financial freedom. It becomes financial prison because I'm bound to you.
And that's what I think is, I would say, the cards up these guys'sleeves. Yeah, well, funny enough, it's just changed our prime minister here in the UK, Rishi Sunak. He was prime minister a few months back.
But before that he was the Treasury and he spoke openly spoke about CBDCs and that's what he said They said they'll be programmable for that very thing And I think someone spoke about that and highlighted that exact example on Joe Rogan and they broke it down the exact same ways in terms of if let's say you go over your quota for You know the how many drinks you've had no more drinks or you haven't done enough hours here Or even if we go to the social credit system, it's all basically. Yeah all compliance It's a crazy world. Do you feel like we're in a time right now where it really matters what decisions you make and how you choose to use your attention, use your essentially your money as well and what you support, what you get involved in?
So I tell people there's three essential things in life, three things of control, areas of control. And when you dominate these three areas, the world is yours for the taking. And these are the three elements that all of us have.
You know, some people say, hey, Luke, you have more opportunity, you have more money, you have more this, you have more that. People look at what they don't have. But what is it that we all do have?
We have three things. Time. So what is it that you do with your time? Most people are wasting their time. You're not successful because you're wasting the time that you have.
Two is your energy. Where are you focusing that time? The input. And then finally is your attention.
People are distracted. People aren't inputting the right amount of energy. And they are in a situation whereby when you get distracted and you have no focus, you can't succeed.
If you want to make money in crypto, focus on that. If you want to learn how to trade, focus on that. If you want to learn the psychology of trading, focus on that. You need to be able to have hyper focus towards a given what goal and objective. Most people don't have that.
So your time, your energy, and your attention. Most people... don't secure these three things they don't protect these three things they give their time to the fucking instagram timeline they give their attention to some random bitch they give their energy and their money to partying and wasting it dude you work your entire week for that money in order to get to the next level and you just gave it to some dude that charged you overpriced bottles and made you told you that you're cool and you're not you're a fucking dork like you you've met you lost so your time energy and attention are the three things you need to preserve at all times It doesn't matter if you're rich, you're poor, you're rich on these three things. We're in a time and a situation where technology is advancing so quick that your decisions have a massive impact short-term and long-term.
There's a law known as Moore's Law where technology advances at twice the speed at half the cost every two years. So every two years, technology becomes twice as powerful and it becomes half as expensive to produce. So we're in this exponential curve. So you have this exponential curve, which means technology is moving so quickly that if you become disconnected, if you fuck up, it'll impact your ability to progress.
And in business, in entrepreneurship, in trading, you can't cheat your way to the top. Like you can fake your PNLs on Twitter and on Instagram, but you can't fake how much money you have in the bank. So you have to put in the work.
You have to put in the hours. You have to be consistent and eventually you will yield results. I don't know.
I think I became profitable five years into trading. I lost a ton of money. Maybe four and a half years into business, I started making a couple of thousand dollars a week. The process is also exponential. But once you take the exponential curve, you also capitalize on what?
We talked about it. Exponential trends and exponential narratives. So you ride the momentum as well if you catch the right.
side of the Moore's law. I love that. And going off the back of that, in terms of, you know, whether it doesn't matter whether it's crypto trading or anything online, like we talked about how the opportunity right now is that digital opportunity and it's only growing like what do you see in terms of you're making money online you know what opportunities or where do you see that landscape going in the future as well let's take a break for a minute there guys because i want to tell you about the best trading tool on the market trade zeller the reason why trade zeller is the number one trading tool that every trader needs is because you can do backtesting automated journaling trade replay in-depth analytics and so much more.
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Make sure you use the code RIZ10 for 10% off your monthly subscription or WOR for 20% off your yearly subscription. The link is in the description below. And let's get back to the episode. Yeah, so we need to start talking about what are the things that people value and were the things that AI won't be able to replace in the near future. So if AI is going to enter a situation whereby it's going to start taking over copywriting and podcast editing and thumbnails and all these things, you're like, okay, well, maybe if I'm an editor, no offense to all the editing crew, and maybe if I'm a producer of a show that, or maybe if I'm an artist, my job.
is going to have to shift. So people need to understand that they need to learn irreplaceable skills. So skills that they can take and cross-pollinate in any niche.
Sales, marketing, persuasion, leadership, the ability to have emotional intelligence and understand how to talk to people. These things AI can't do for you, but you're still going to have to deal with people in the short term. So most people's fundamental basic skills are not even met.
We're not even talking about specializing here. We're talking about the base fundamentals of how you're going to interact in the business space. So your ability to become a professional.
Most people are focused on, oh, AI is going to disrupt this, disrupt this. Okay, well, what are you going to do about it? You need to become better in these different areas.
Sales, marketing, persuasion, networking, leadership. These are non-negotiable essentials. Number two, you need to be in high demand.
So you either create demand Or you place yourself where the money is going to go. We've created demand by creating content. So you can generate today massive amounts of demand through massive amounts of attention.
Short from editing. You can either be an editor, make a ton of money clipping, ton of money because people want your service. We're talking about fast money right now, huh? Or you can be the person that wants to have a business or your personal brand that has content.
And you're paying for what? Attention. So we have a massive attention game right now where people are exchanging dollars for attention and exchanging dollars for influence because they're realizing that the dollar is not worth as much as getting that attention and getting that currency. So it's something that people really value. The second and final part is in the digital space is there's three types of areas that you can service, that you can make money in.
One is physical products, digital products, and services. So for example, do you have a community or any sort of digital product? Okay, so you have your digital product.
Let's say you were selling hoodies, that would be your physical product. And then your service, let's say you host a mastermind that teaches people how to trade, right? That's your service. These three different verticals allow you to make money.
So for example, let's say you don't have a product and you're like, Hey, Luke, I don't want to do e commerce. Well, you can still do services online, you could still build a business on TikTok. That literally shows how you cut grass and get customers that way. And you will.
So you can do physical products, digital products, or services. Digital products are great, especially nowadays. We have people losing trust in institutions and trust in the school system.
So they're looking for other verticals of education. So digital products. You don't have inventory.
The product isn't going to rot. You don't have to manage your logistics and your P&Ls in that sense. So no inventory, no overhead. You have your digital product, your physical product, a little bit more complicated, and then your services. Anybody can get started.
Flipping sneakers is nervous. make tens of thousands of dollars a month. It's real. It exists. So find those verticals instead of looking at, oh, this is where you can make money.
Every person is different. Everybody has a different wealth profile. The way that Warren Buffett got rich is a different way than Michael Jordan got rich, but they both got extremely wealthy.
Their wealth profile is different. So instead of talking about specifics is, hey, what are the macro things that everybody needs to master collectively? I think that was actually really, really interesting in terms of people should focus on themselves first, build their fundamentals first as an individual, before even business related, before specializing, as you say, then get specialized and then go into that marketplace. And money is a lagging indicator of success. You can't have the paycheck mindset and assume that you're going to get the results the next day.
No, you have to become a professional. You have to feel stupid in order to become smart. You have to be a loser in order to become a winner. So if you don't go through the trenches and understand that there's going to be a period where you're not going to get paid. for your efforts.
You're not going to get paid for your performance. You just won't. But eventually, that will all come back and catch up to you.
So you can't have the paycheck mindset. You can't be thinking that everything is going to be instant gratification. You have to build your value because you get paid in the marketplace in proportion to the difficulty of the problems that you solve. So the problems that you solve are big and you need a lot of value. You need to become a certain type of person to solve the problems.
You'll get paid in proportion to that. If you solve small problems like flipping fucking patties, anybody can do that. You'll get paid in proportion to solving that problem, which is not very difficult. And I was talking to a very successful businessman at some point last year, and he said, you know what is about profit, Luke? He's like, you know where you find profit?
In the biggest of problems. So where there's problems, there's profit. So most people, they want to make money, but they don't identify the problems that they can service and provide solutions for. So instead of looking at a problem and being like, oh, the world sucks, look at a problem, identify the gold rush opportunity in it, capitalize on it, make money, customers happy, you get paid, the world's yours for the taking. What would you say that one of the biggest mistakes that you're seeing the younger generation making right now when they could be making opportunity?
Instant gratification. The dopamine hits that you have of how many motivational videos do you motherfuckers watch? They're all dopamine hits.
You don't act on it. So everybody wants instant gratification, instant results, instant pleasure, instant love, instant success. Success is good because most people don't achieve it.
If everybody was successful, then it wouldn't be worth anything. It's dope and it's worth something because it's fucking hard. That's what makes it sick.
That's why people respect it. Getting rich, who gives a fuck about the money? It's the fact that you were able to do it. You come from the trenches, you get respect.
You come from a silver spoon, you get rich. It's fine. You got money. It's a different type of game. It's a different type of vibe.
And people understand that they respect it. They don't respect the fact that you have money. They respect the hustle and who you became in the process in order to get it. Instant gratification.
One. Two. Comparison.
Comparison is the killer of joy. For you to be 18 years old and look at me and assume that you're going to have what I have. be who I am, do what I do without having put in the work, the energy, the hours, the resources, the time, the experience is not going to happen.
So people are looking at the internet. They're looking at all these individuals, the supercars, the bitches, all this shit. Like this is what I want.
No, that's not what you want. That's what you've been told that you want. That's what you've been told is success, but it's not.
Focus on you. What are the essential things that you need to focus on? And then I would say the final part is health. I know this is a trading podcast, but it's a big one.
You need to have your temple in check. You need to have your body in check. What does a man profit if he gains the whole world but loses his own soul, right?
So if you make a ton of money, if you achieve financial success, business success, but you compromise your health, your mindset, your spirituality in the process, you lost the game. I think that last point is the one that a lot of people struggle with. Even I've struggled with it as well. When you get into the entrepreneurship and especially once you're...
the grinding phase and then of course the momentum once that momentum's there it's so easy to get such a tunnel vision and only focus on how do i grow as a business how do i grow as a as a brand as a person as a creator and so on and so forth and then you start neglecting also not relationships as you say spirituality health it's so easy to be done but it's so important to highlight i think for sure and one thing i wanted to ask you actually was it's a bit of a different sort of scenario so kind of different scenarios that we can sort of try and give some people at different levels, something to think about. So let's say for example, you've got the person who has a thousand dollars, right, that they are able to invest or use for their growth. For them to be able to say get to ten thousand dollars, what sort of things would you do if you were in that position? Immediately join a cheap community.
Join as many free communities as you can and have your name known. If you have $1,000, you don't have much. But what you do have is a reputation.
A lot of people don't invest in their reputation. Invest money in your reputation. Go get seen. Go network. Go get involved.
Go spend your money. Go spend the $150, buy a plane ticket, and go surround yourself with winning people. offer value. You know how people get networked and connected when they are the to-go-to guy.
So are you the to-go-to guy for anything? If I'm the to-go-to guy, and I am for a lot of things, opportunity naturally comes my way because I'm the middleman, I'm the gateway. So before making many sort of plays myself, I started becoming the gateway, that guy.
People knew me for this. So I invested my money into my personal. brand. I invested my money into myself, into my self-development, not just my internal self-development like my mindset.
People talk, you don't have to buy a course, a single course, but what is your reputation? Your reputation needs to be untainted, unassailable, of high regard, and you achieve this through networking. You achieve this through interacting with people.
This idea of being isolated online and thinking that the best opportunities come from you talking to somebody on a Discord. and that that's where things are going to get materialized. Yeah, it could.
But I've interacted with people in person and the digital relationships, when kind of brokered physically, they become a lot more meaningful and a lot deeper. So when I have $1,000, I'm focused on me. I'm focused on leveling up me. You're not going to make a ton of money off of flipping $1,000.
It's just simply not going to be the case. Become the person that makes more money. Once you start making a couple more thousand dollars, Let's say you make four or $5,000 a month.
Now you can focus on multiplying that money, whether you want to flip it with sneakers, flip it with, you know, some sort of garage sale, or whether you want to trade small things here and there. It's still not a lot of money. Instead of flipping, instead of trading, you need to focus on cash flow. You need to focus on how can you build and sustain your lifestyle. And then all the excess is the money that allows you to trade.
Because you can trade one of two ways. You can trade out of need and out of greed. or you can trade out of being in control.
If you trade out of need and greed, you know, the person that gets the $500 wants to flip it in a shit coin because they have to pay for rent tomorrow. They're not going to win because their mindset, how they're trading, how they're going about it is completely wrong. If you trade out of strategy, out of your plan, you're in control and you don't need to trade. You don't need to make that money because it's not your only source of income. So for traders, especially beginners, they don't have enough ammunition to continue playing the game.
because they don't have cash flow. So focus on yourself, elevate your skill sets, elevate your connections, become a better individual, make a little bit more money, have some sort of cash flow that comes in, and then your excess, you can jump into the market. I started paper trading for the first two years. So I paper traded for a couple of years while I was observing it.
My money was quite limited. And once I began to make more money, then it gave me more freedom to position myself and make better plays. Let's say if we took another scenario, so that's the thousand dollar scenario. Let's go. up to $100,000.
Let's say if you're at $100,000 mark and your aim is to use that to be able to get to the seven figures, what would you do in that position? So right now I would probably play the crypto markets as my highest leverage play. $100,000 to a million in a bull run is possible, but obviously advocating for 10x multiples in 12 months is pretty insane, even though it's doable.
But I would be allocating just... I would say 30% of my portfolio to Bitcoin, maybe 20% to ETH, maybe 20% to TON. The Open Network is the new token that's been built on the Telegram ecosystem.
And then probably the rest of the 30% sprinkled across altcoins, top altcoins like Solana, Avalanche, and just ride the bull market. After I ride the bull market, I'd probably cash out, which is kind of what I did last bull run, and then just put it into a high return yield. fund that gives me five, six, seven percent a year, and then wait for the next bull run to roll around.
It might take you two to three cycles to get to that number. Obviously, the goal here is to not lose money. That's the first rule of trading. So you just don't lose money. If I tell you go buy a meme coin, then it's not the right play.
The right play is for you to preserve that because losing $100,000, if that's all the money you have, that's a lot of fucking hard work to get back. Your first hundred grand, you got to respect them. So once you have that number, it's about growing it steadily.
And once again, it goes back to the same principle. If you have cash flow, you're going to treat and interact with the hundred grand a lot differently. If that's your end all be all, and that's where you're going to make your money from your principle from, it's one thing, but I swing trade.
I'm not day trading. I don't, I don't pull my profits that day and pay for the bills. No, pull money every single year. And that's kind of how I'll operate.
So a little bit of different perspective. I know some people make a living off of trading. That's great.
I know people make millions of dollars doing that. I personally. Swing trade and I have my cash flow that comes in from my business operations and from my personal brand that allows me the opportunity to actually play long term narratives. Off the back of that, actually, I think it's an important one, which is in terms of savings wise, a lot of people, they get into crypto, get into trading, very similar in nature. And they're using as you as you touched on, like the money that all the money they have versus I've always been someone who's tried to say like.
try and build some form of cash buffer. But off the back of everything else that we've talked about as well, there's also a danger in that, right? Of just having money in the bank. What is your mindset in terms of when you're trying to invest, trying to grow your net worth? Are you someone who has some form of cash buffer?
Maybe not just money in the bank, but in something that is liquid enough in case you needed it. I've always said like, at least a three to six month cash buffer before you start to really elevate your risk in what you're doing. What are your thoughts on that?
It's interesting you asked me that because I've been thinking about it quite a bit lately. I've hit a different financial bracket over the last couple of years. So I begin to think about inflation.
I begin to think about the debasement of my money. Because when you're sitting on $50,000, you're not really thinking about it. When you're sitting on tens of millions and you're like, oh shit, my purchasing power is down 600 grand this year. What am I going to do about it?
You begin to think differently. And now imagine you're a billionaire. And they're telling you that inflation is 8%.
And you're like, okay, well, what do I store my money in? Because we need to understand what money is. We talked about money is just a transfer of basically energy. You had to labor for your thing.
I had to labor for mine. And it's a bartering system of energy. Money is just a transfer of energy. But money is not just a transfer of energy.
It also used to be a store of energy and a store of value. However, after gold was ripped off, from the dollar and the gold standard was removed, saving became impossible. Prior to that, if it was 1890 and you were working at the factory making a couple thousand dollars a year, in two years you could buy a home and you could actually save because there was no printing of more money. Today, you can't save dollars because they are printing them.
So what you're seeing is very much what took place in the Weimar Republic of Germany in World War II, which was gambling was rampant, prostitution was rampant, speculation was rampant. Why? Because people had to find where they could grow and store their value.
The difference between Weimar Republic, World War II in Germany and the society that we live in today is that we have an alibi. We have an out, which is Bitcoin. Bitcoin is the ultimate store of value in the world, more than gold.
Why? Well, number one, how much gold exists? Do you know how much gold emerges out of the ground and gets mined and licensed and tracked and serial number stamped every single year?
Do you know? Okay, so you don't even know the supply of this thing that they told you is a store of value. Okay, well, okay, but people can still use it. Okay, I understand. Well, what can be a store of value?
Well, we need to find how to do what? Transfer the purchasing power of today into the future. That is the name of saving, your ability to spend in the future what you currently have. But you can't spend in the future what you currently have if they're slowly stealing it from you via inflation. So you need to store it in a different asset.
So you store it in an asset that is finite. What is a finite asset that requires real energy in order to be created? Bitcoin. Bitcoin requires X amount of energy units and dollars in order to be created. So you know that the fair dollar value of a Bitcoin is in direct proportion to the energy that it was required to create.
Because this goes back to the second law of thermodynamics, energy can either be created nor destroyed. It can only be transformed. So by injecting fiat, you're injecting false energy into the system.
The system is going to reject it naturally because it's outside of natural law. So you're expecting a reaction, you're expecting stimulus, but you're injecting fake energy. And remember, energy, money, is a cumulative of the community, a cumulative of the effort of people.
So if you're injecting fake money, what you're doing is you're producing fake energy. During COVID, 25% of all US dollars in circulation were printed, trillions of dollars. I was doing the calculations. Let's say you make a $15 an hour wage.
And I divided that $15 an hour wage by the amount of dollars that were printed. And I realized these motherfuckers printed over 600 billion hours of human labor. Because you can't quantify it in dollars.
You need to quantify it on how many hours of labor do those dollars buy. 600 billion. Who's accounting for that? That's 600 billion hours of human labor and energy that were inputted that are fake.
Nobody can account for it. But you know what it does? It dilutes your actual work.
So today I pay you $10,000 for a consultation. Why, five years from now, is it no longer worth the spending power of $10,000? Because they're stealing through inflation. So you need to hold it in an asset class that is finite, that is well-respected, that is institutionalized, that you understand how much of it exists, who has it, and how much it costs to produce.
In this case, you are able to transfer today's purchasing power. into the future and based off of so far with appreciated return because bitcoin only makes higher lows inside of the bitcoin asset class bitcoin is the greatest store of value ever created in mankind it might be some glitch in the matrix that they gave us when they realized the fiat system was about to implode i don't know where it came from i don't know where it's going but if you ask me where i prefer storing my money i want to store it in something that i know is real and bitcoin is as real as it gets that is fair that's fair and i think you you made a good case for it there as well and just to fight like finish up on two final questions one was an interesting one that i just thought of on the way here which was you know me personally when i was growing up my mom would try and give me books and i would always be reading you know readings who's got time for that but then as i started to trying to become an entrepreneur and i was joining some classes and masterminds and so on the same books my mom tried to give me years before were now being recommended to me so i just put this huge time gap between when i could have progressed and so on So I want to ask you was that if there was one book that you would recommend to youngsters out there who have that same mentality I had, but that book maybe won't be the thing that changes their life or anything like that, but it's the book that they get that much value from. They see the power in reading and gaining knowledge.
What would that book be to you? We're going to keep it in trading because I think it's really important for the psychology of trading. It's going to be reminiscence of a stock operator.
If you want to understand. the psychology behind trading read reminiscence of a stock operator because the mindset that you attract or the mindset that you have within trading will dictate your success 100 that is the book that i recommend that fundamentally traded and trained and changed the way that i thought about the markets game changer i've heard that book many many times and me personally my my book wouldn't be a trading one it would be like think and grow rich and more so because of the determination like the The fact that no matter what happens in your life, you just have to keep pushing on, keep pushing on, keep pushing on, and keep that vision of what you're trying to attain in life. And the question is, why do you have to keep pushing on?
Most people don't ask themselves, because you're guaranteed the output if you continue. It's very simple. You want to plant seeds, and you're going to expect a tree with fruit.
You just have to plant the seeds. You don't have to worry about when the tree is going to flourish, when the fruit is going to come. It's going to do its natural thing with or without you, whether you get angry, you want to speed it up.
Just plant the seeds. I agree with you. Definitely.
I mean, time horizons are so important. And to finish up, just because I know we didn't kind of do it actually throughout the podcast, which probably people would be surprised for, so we have to give it to them, which is what are your plays? What are you keeping an eye on within the crypto space or just generally as well? You know, currently, what are you looking at and what sort of predictions do you have? So the big thing that I'm looking at right now is just the Ethereum ETF getting approved, getting new institutional liquidity back into ETH, getting the next kind of wind in our sales for the next leg up of the bull run.
I think that'll validate the next set of ETFs like Solana. Once we start getting altcoin ETFs, the market is going to become absolutely full of liquidity. It's going to be something that we haven't witnessed before. because institutional money is going to pour in. That's the biggest thing I'm looking at.
The bull run is just getting started. If you want to play main chains, the best chains to be playing right now are where the attention is. Solana, Ethereum, and TON. TON is the open network, super invested in that ecosystem.
Obviously, 900 million users on Telegram. They have the attention. Solana, they own the game when it comes to your fast day trades, when it comes to your flash trading, when it comes to your D-gen ecosystem. And obviously, you have most of the projects that are built on crypto.
Nowadays, they're built on Ethereum. It's already the monolithic layer. It's the foundational layer of what a lot of people use in crypto. So at a foundational layer, I've been looking at these three asset classes. And inside of that, I'll invest into different projects.
But those are the three ecosystems, the three main places that I'm looking. I see a $400 Solana, $8,000 to $10,000 ETH, $25 ton over the next 18 months. I really appreciate that.
And I appreciate you being here with us today. Everyone at home, make sure you drop a comment with your biggest takeaway from this episode. There'll be other episodes on screen here, the day trading show as well. Check that out.
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