 Welcome to Digital Asset News, the top stories in cryptocurrency and digital assets, and bring them down to bite-sized pieces. Today, there's so many things going on in this space. It is amazing. So first up, over 90% of Ethereum's supply is now in profit. And I gotta tell you, this is just one of the reasons why I believe Ethereum's a $10,000 coin also. Ethereum's final testnet goes live, just went live today, August 4th, and this marks the three months until ETH 2.0 launch, and when that happens, watch out. On top of that, we're gonna talk about yield farming and DeFi is fun, but don't forget about Uncle Sam, and that part is not as fun as far as taxes go. But I will just reiterate, this is one of the reasons why Ethereum is a $10,000 coin. Also, we're gonna quickly look at Uniswap and why I think it's just fantastic, and why I actually added it to the exchange and wallet fees, Google spreadsheet, because it's just so good. And lastly, we'll go over a question today, which is all about trading and other such things. But let's take a look at what's going on in the market today. So today, it is August 4th, there's about 130 Texas time, and I gotta tell you, these are exciting times. And the reason is because right now, we had a huge run up, and there wasn't that much of a huge drop. It wasn't like Bitcoin went to $12,000 and then went to $6,000, or went up to $11,000 and then dropped down to $8,000. And it was a pretty respectable pullback, nothing too amazing or too frightening, which is good for this space. I mean, I like it when things aren't just too crazy. Now, having said that, I will tell you this, 10% drop does not affect me. 20% drop doesn't affect me. 50% drop kind of gets to me a little bit nowadays, I'll just be honest with you. But try doing a 10% or 20% drop in traditional markets. People would lose their minds. But that's the difference between us and them. That's just how it is. And yeah, so Ethereum is down a little bit, but up 20% for the week hovering around that $400 mark of 3 to 7. XRP, 29 cents, watch out, Tether, Bitcoin Cash, Cardano. Ooh, Cardano's in the sixth spot, that's good. And Bitcoin SV moves down. Again, don't know why Bitcoin SV is in the top 10. I have no idea. If you know why Bitcoin SV is in the top 10, and tell me why it's awesome in the description because I just can't figure it out. Litecoin is still there. Good for that. It's just down a little bit, but up 8% for the week. And Chainlink, just coming up massively strong at almost 12% for the day, 33%. I can tell you right now, it's over 9%. I know that is, that is its all-time high. It has never hit 9 before, and over the last 24 hours, it just hit that and exceeded it. And this is on top of the Zeus Capital LLP FUD article, where it said, you know, Chainlink is going to zero. Now, there could be a lot of like 3D chess going on there. I don't know. I don't really care. I just know that the price is up, and it's good. And, you know, we've talked about it being a scam before, so I'm not going to go over it. But it looks like it's doing pretty well. It's a project that works. I don't think anybody can deny that. So I'm looking pretty happy about that. Binancecoin and 10, crypto.com taking a tumble after that MCO to CRO swap. If you want to learn about that, we did that yesterday. And a lot of ticked off people about that. And I can understand why, especially trying to get those jade cards, which is what everybody told me. So yeah, and then Tazel's up 7, and pretty good. So overall and all, this is an exciting time. This is the time to be into cryptocurrency assets when there are big moves coming up on the upswing. And we're not just seeing huge tumbles and tumbles and tumbles, or which is even worse, in my opinion, is when we just trade sideways. That is so boring. But right now, exciting times. Love it. Let's jump into day stories. So first up, over 9% of e-supply is now in profit. And the first sentence is going to get you. It says here, more than 90% of ETH's circulating supply is now in profit. The last time this level was observed was in early 2018, when the price of crypto was 925. So let that sink in. Right now it's below 400. Yet 90% of people are in profit. Well, how's that happening? Because it would make sense to me like, well, it's 925, it's higher than everybody's in profit, or 90%, sure enough. So it's quite simply, my friend. It's called DCA, dollar cost averaging. It's the thing that I do. I don't trade. I'm not into trading. I've got other things going on. I just don't have the time and patience or stomach for it right now. So when I talk about dollar cost averaging, remember this, and think about this. I got in in late 2017 and I bought on the upswing and I bought at some of the highs. I remember buying a theory about like $1,100. Yeah, me. And I learned a lot of lessons and I'm happy that I did because that's what made me who I am today and how I actually invest and do things with cryptocurrency. See, I don't just wait for everything to start running up and then do it again or all these different crazy things. I just say, okay, here's what I'm going to do. I'm going to dollar cost average and every week or every day or every three days or because I do dollar cost averaging different for different coins, different projects at different times. And Ethereum is one of those projects where I've gone and dollar cost averaged every day or sometimes every three days or every week I changed up. So even though I bought $1,100, I've also bought at like 298. So as I start to dollar cost average and buy things at a lower level, my average cost for Ethereum goes down when I buy the dips. And that's why like, if I just let it just go, oh, poor me, Jesus, should have done that. And I'm like, well, I'm like, you know, in the negative, no, what I'm going to do is I believe in the projects I believe in the tech like those memes always talk about. So I, I'm just going to keep buying and I buy at a lower price and it brings my overall price down and that is what is happening here. So 90% of people are in profit and you can't beat that. That is fantastic. There's two more pieces of this and then we'll finish up. The Spartan groups co founder Kelvin co commented, the strong move in Ethereum has to do with the upcoming ETH 2.0 launch, which is a major catalyst. Could not agree more. Every phase of ETH 2.0 over the next two to three years brings Ethereum closer to its final state and will be the catalyst for ETH to really jump to the moon. So real quick, let's take a look at what they're talking about here. Before we go live with Ethereum 2.0, there has to be these test nets and the third one just went live today and it marks three months until ETH 2.0 actually comes into and becomes fruition. So when there was actually talk, Vitalik Buterin was saying, you know what, man, I happen, uh, or no, no, it wasn't Vitalik Buterin. It was one of the lead programs that said, Hey, it might have happened this year. Vitalik's like, no, it's going to happen. And I got to tell you, I appreciate, I tip my hat to somebody who says, or the CEO or the leader who says, look, we're doing it this way, it's going to happen. We can't start to keep screwing around. Let's get this done. And nothing promotes that type of atmosphere like competition. And I'll just say Cardano is pushing everybody. They're pushing everybody. So is Tezos. So all the other projects. So these are exciting times because everybody's in the fray. This isn't 2017 when it was just a bunch of white papers. Things are actually happening. I like to see this. And when you have this much competition, people like, Hey, I'm going to make things happen. So for the test net real quick, Ethereum developers have launched the Medela test net, which is the last test net prior to Ethereum 2.0 main net launch. The test net went live on August 4th, 2020 at 1pm. So today, the Medela test net matters because it includes many of Ethereum 2.0's key features in a real working environment. But the test net does not handle any real value or real ETH. And it doesn't allow validators to earn profit. So basically everything's just going through the paces just to make sure that things don't break. And that's the big thing. So they're going to go through all these things, make sure it works. That's great. And then they can launch everything just like what Cardano did with their main net, just like what everybody does. I mean, they do their due diligence. So again, tip my hat to these guys. Hopefully it all works out because if this does, which I've been very critical of the Ethereum team and the Cardano team for hitting their milestones. Well, guess what? Cardano hit their milestone. They did what they said they were going to do. And that is huge. So when you have that type of thing happening, what does Ethereum look back? Oh, wow. There's people that are heels. We better pick up the pace. That's what's great about competition. Free market. All right, let's jump back to the main article. So there's just one more sentence to go over. And it says, furthermore, news.bitcoin.com is where we pulled the article from. Recently reported the total value locked within the decentralized finance or DeFi ecosystem has surpassed over 4 billion, which is amazing. And that's DeFi. DeFi is another catalyst. I mean, it's just, this is why I'm always talking about Ethereum. This is why I think Ethereum is a 10k coin. Everything's built on Ethereum. Everything's going on Ethereum. DeFi is just one of those, those rocket fuels that are going to bring it into the forefront. So if we have a new Ethereum 2.0 with sharding, with proof of stake, with all the decentralized finance, which I believe is going to be big, not for retail investors, but for small businesses, I'm going to get into that a second. There is no stopping it if it can just hit its goals or its milestones. Just do that and they'll be successful. So what I want to do is just kind of break down DeFi real quick and just go over some basics and some advanced stuff and what's going on in the space right now. This is an article from crypto briefing. Real big fans of these guys, they do solid work and I like all their articles that they have. So they're just talking about farming DeFi, yield farming. And it talks about when you're doing these types of things, you have to worry about taxation. So this is the boring part, but it's an important part and I'll get into the other good stuff in a bit. But depending on circumstances, crypto either treat it as property or as income, depending where you're at. In America, it's property. Cryptocurrency is property. In Russia, it's property. Other places, it could be income, sure. When you sell or exchange crypto, you report capital gains and losses similar to selling stocks or property. And this is one of those things where it doesn't matter how much you make, it's how much you keep. And I can tell you like with my Amazon business, I thought I was making a ton of money. And then I started to look at, whoa, hey, wait, I got these fees. I got all these storage fees. I got these transaction fees. I got all the things for advertising. I got for shipping costs. And I look at everything. I'm like, whoa, I'm not making that much. So it's not about how much you make. It's how much you keep. And you have to keep an eye on these types of things. Because if not, what are you doing this all for? So anyhow, continue on. It says when you lend out your crypto, the interest accrued is taxed as income. Let me say that again. When you lend your crypto, the interest that you get is going to be taxed. Everything's going to be taxed. Everything's not everything's a taxable event. But when you sell crypto, when you exchange crypto like Bitcoin for Ethereum or Ethereum for Tomato Coin or Tomato Coin for Potato Foot Coin or whatever, it doesn't matter. All these things are taxable events and you have to keep control of it. Because guess who's looking at you? Big Brother Taxes. So capital gains can be short or long term. In the case with DeFi, your profits fall into the short term category, which means you'll be holding assets for less than 12 months. So real quick, any less than 12 months is short term capital gains. 12 months and a day is long term capital gains. And there is a huge difference in the short term. I can just tell you like this. This just falls into how much you make. Let's just say you're a person who makes $65,000. And let's say you're married and filing jointly. I mean, if you're, so you and your wife are making $65,000. So you're only going to be because taxed 12%. Not so bad. Let's say that you're married and filing separately. Well, that right there, if you're at $65,000, you're going to pay 22%. Essentially, one fourth of everything that you made is going to the government. Same thing with head of household. And I got to tell you, it's that plus the state taxes. So don't forget about those. Now in Texas, we have zero state taxes, Nevada, Wyoming, some of the different states, but other places here, you're on the hook for more money. So just be aware of all that nonsense. So, okay. So before we go on, we need to really take a look at what is decentralized finance just as a refresher. I know some of you are like, you know, super experts, so just stick with me. What is yield farming? What's DeFi? All that good stuff, right? So this was an old article. This was in July 6th, 2020. So roughly about a month ago. And it says here, according to DeFi Pulse, there's 1.9 billion in crypto assets. And what did we just see in the other article? It went from 1.9 to 4.22. So it has doubled in a month. That is amazing. And if you want to take a look at DeFi Pulse, I'll link in the description. You can just see exactly how much is locked up for each different project. So maker 1.3 billion, compound 810 million. And then you just go down the list. It's a lot of money. So real quick, there's two types of tokens. It's just a regular token, like the basic attention token, any kind of token you can think of, right? That just represents money. And so there's a second type of token called a governance token. And that enables users to vote on the future of decentralized protocols and presents a fresh ways for DeFi founders to entice assets onto their platform. So compound does this, right? They give away governance tokens and you can pretty much vote on like, well, how much do you want the interest rate? How much do you want to give away? How much do you want? So everything right there, there's two types of actions for the tokens that you get. So let's just move down. So the way I was talking about, so on the platform that proved DeFi could fly maker, Dow holders of its governance token maker, MKR, vote almost every week on small changes to parameters that govern how much it costs to borrow and how much savers earn and so on. So all these governance tokens that are given out, those are the people with like the real voting power or the voice of what's going to happen and how things are going to move forward. So it's pretty interesting how DeFi does all that. But the thing they all have in common, whether just a regular token or a governance token is that they're all tradable and they have a price and that is the big thing. They are all worth something. So DeFi is the thing that lets you play with money or represent money and the only identification you need is a crypto wallet. And that is why I'm going to tell you, this is why DeFi is going to be so big for small businesses. Now I've said this before and I'm going to reiterate that in a little bit. But for retail investors, sure, it's great to get a loan. It's great to earn interest on the things that you save. But I'm going to tell you right now, when small business realizes how easy it is to get a loan and have liquidity and you don't have to jump through all the hoops that the banks make you do, believe me, I do it, they're going to explode. So again, Ethereum, 10k coin, moving down. So here's the example for DeFi that they give. They say go to MakerDAO, create $5 worth of DAI, which is a stable coin, usually worth a dollar, somewhere, $0.99 to whatever, out of the digital ether, then go to Compound and you can borrow $10 in USDC. So right there, you've gone to Exchange, you've bought a stable coin, you've taken that stable coin, and you've borrowed against it, and you have $10. So that essentially is pretty much what the banks do, just a heck of a lot easier and a lot less hassle. So this next sentence says it all, immature and experimental, though it might be, the technology's implications are staggering. And again, DeFi is made for the small business. The best way to explain this is like this, small businesses run on liquidity. You have to have cash flow. If you don't have cash flow and you're cash strapped, you can't get inventory, you can't pay for overhead, you can't do a lot of things that a small business needs to do to thrive. So here's the thing, if you're a small business owner, I'm just talking to you, if you are, or if not, just kind of think of the concept, imagine if you could borrow against the money that you have right now. You don't have to move the money. You can just borrow against that money. So let's say that you could, I don't know, borrow against your SEP IRA or your 401K, or you could borrow against the type of money that you have just kind of stashed away as collateral. And you could get to that for like a super low interest rate, not like, you know, three and a half percent or four and a half or five percent, but like sometimes like less than 1%. And you could use that in various terms, and you could pay it back, you know, whenever you, not whenever you want to, but you know, in a reasonable amount of time and not go out through all the paperwork and not wait so long and not have credit checks and blah, blah, blah, blah. I'm telling you right now, the only thing that hinders me as a business owner is my lack of capital or the inability to access capital. If I am looking to sell product on Amazon, if I had $500,000 and I can get the right products based on distributors or the manufacturers and I contact them and said, I have this, I'm going to give it to you. They're going to give me an invoice. If I have the money, then I can turn 500,000 into, I don't know, 625,000. And it would only take, I mean, however long it takes. I'm not going to, you know, blow smoke like Amazon's easy. It's not. It's a real pain. But if you have money already there, then you can borrow against it and it works out pretty well. Because here's the thing in business. It's always better to use someone else's money than your money. But the big thing is, and if we just take a step back and look at cryptocurrency, let's say you had $50,000 in cryptocurrency and you know it's going to go up. I mean, we all know it's going to go up. That's just the way it is. And I don't want to have to, or you may not want to have to sell your cryptocurrency and you could have 10,000 or 500,000. It doesn't really matter. But you don't want to sell any of your cryptocurrency right now. So what if you could borrow against it and you can get capital and then you can buy products or any kind of overhead that you have and you can let your cryptocurrency just sit there and then the money that you make from selling your products, you just put back in the loan. It makes sense. And again, when small business figure that out, it's going to be game on. So moving on, it says, note that you can swap all these things back as soon as you've taken them out. Open the loan and close it 10 minutes later. It's fine. Fair warning. It might cost you a tiny bit in fees and the cost of Ethereum is pretty high right now. So you just have to watch out. But I mean, you could do that. The terms for banks are a lot more stringent. And sometimes they have these things called prepayment penalties, or if you pay it back too early because they like to charge interest, that's what they make all the money. If you pay it back too much or too fast, you're like, oh, we're going to charge you. Like what the heck? I'm paying you money back. That's just how it goes. So here's where it gets good. So it doesn't running a bank or DeFi take a lot of money. It does. And in DeFi, money is largely provided by strangers like yourself. That's why the startups behind these apps come up with the clever ways to attract hodlers with ideal assets. That's why the interest rates are so high right now because they need that liquidity. And it states again, liquidity is the chief concern of all these different products. That is, how much money do they have locked in their smart contracts? So they need your cryptocurrency so they can loan things out and do all these different types of things. That's why you are a hot commodity. That's why they're trying to get you to take your cryptocurrency and put it on their platform. And that's why I am so stringent on the different things that I talk about because I don't trust anybody. It's very hard to go through this because I've lived the times of BitConnect. Maybe you have as well and all the different ICO scam crazes and whatnot. So when I add anything to my exchange list and wallet fees and the different things I talk about, it's because I vetted them and I trust them. And not only that, I use them. So that's the big thing. So moving on, it says, let's take Uniswap as an example. Uniswap is an automated market maker or AMM. This means Uniswap is a robot on the internet that's always willing to buy and it's always willing to sell any crypto for which it has a market. On Uniswap, there's at least one market pair for any token on Ethereum. Behind the scenes, this means Uniswap can make it look like it's making a direct trade for any two tokens, which makes it very easy for users, but it's all built around pools of two tokens. And all these market pairs work better with bigger pools. So just real quick, I just found Uniswap through this article and I gotta tell you, it is awesome. If you have the Brave browser, you can connect your MetaMask or you can put your own Ethereum wallet on there and it's just so simple. You just do that and that's always right there for you. You don't have to open up anything or do whatever. It's just right there. Now I'm not gonna, I'm gonna tell you right now, don't keep a lot of money on here because you never know, right? So I've just got a whopping 80, 90 bucks, right? So I'm okay if I lose 90 bucks. It's not gonna kill me. But for like little small transactions, sure, I can do these types of things all day long. And everything's good. And what was awesome about this is that I was looking for sell or Celsius because I really believe in that project. I believe in Alex Moshinsky. I believe in the network. And I was like, where do I find Celsius? Well, guess what? I just took my Ethereum that I have in my MetaMask wallet through, that's hosted on Brave, a Web 3 app. And then I just put it in there. And then I said I wanted sell. And then I boom, I just did it. And that was it. And it took like 10 seconds. It was awesome because I couldn't find Celsius anywhere. And now look what I got Celsius right there. And if I want to transfer this, I'm just going to click on that. I'm going to click send. And I'm going to send it to any address for the Celsius network. And then I'm done. So I could keep it here. I could transfer over there. Or maybe I just transferred to the Celsius wallet. Just saying. Because guess what? I can learn a little nice little interest on Celsius. And that leads me to my next point. So if you look in the description of every one of my videos, there's going to be a link. It's going to look like this. And it's going to link you to, it says exchange fees, but really it's all the Coinbase alternatives, all the wallet alternatives and everything that I have ever used and reviewed and my honest opinion on them. And then all the different things that you need to know about it, like the fee charts. That's why I don't recommend Coinbase unless you're super new. Don't know what's going on. Use Coinbase is super simple. Even though Voyager I think is just as simple, but it's got some huge fees, which just sucks. So then Coinbase Pro, Gemini, Gemini Pro, Abra, Uphold, SimpleSwap, Uniswap. And there it is. So Uniswap, I'll just give you the link right there. And I just tell you what I did. And the fees are you don't pay for, it's because it's a decentralized exchange. So what you're paying for is not like it's like, you know, 10 or 3.5% and whatever else. You just pay for the gas, the Ethereum gas, which is, you know, it's a little bit higher today, but it'll go down at some point, but it's not too much. And it's super fast, super easy. And I like that. And I go over CashApp, eToro, do not recommend eToro. Sorry, I just don't. And then my little recent write up for Crypto.com. And right now I'll just say this, that my one two punch right now is Voyager and Celsius. I love them both. Voyager is super simple. There is it's commission free. I was corrected by somebody and they were correct. It's commission free, meaning that they don't charge you anything to make those, those buys for any of your cryptocurrency. What they do, they're like a brokerage. Think of like, if you want to rent a hotel, when you travel to a city, right, would you go to Marriott and say, hey, Marriott, what's the rate? Oh, what's $168? Sorry, like, man, that sucks. Okay, here's $168. Or would you go to some like Travago.com or hotels.com, where they aggregate all these different information sites that pulls the best data so you can get the best room. Well, that's kind of what, what Voyager does and the way that they make money is from the spread. So I don't see the spread. They make money from it. I don't have to pay anything. So I'm happy. And then if they have to eat some costs, they eat some costs and you pay for, you know, whatever the quota price is. So I like that. And then from there, from Voyager, I'll just transfer to Celsius, not all of it because I don't want to keep everything on a hot wallet. I put a lot in my nano, but I wanted an interest. I hear it all is. So with that Celsius, if I scroll in here, so for the Celsius, I'm going to get 5.12%, not too bad. And it's not locked up and I can take it anytime. So I like that. That's pretty cool. And at the very top are the affiliate links. And listen, you can go right to Celsius or right to Gemini or right to Voyager or right to whatever. And you can sign up yourself. It's fine. Or if you want to use the affiliate link, you can and you'll get 10, 20, 25, whatever it is. So it's up to you. So it states, how much money do people make by putting money in these products? So it's very lucrative. That's much more than a bank. Banks suck. They get like, you know, 0.0002%, I think. I'm just kidding. It's very low. But it's tick like compound as an illustration. As of this writing, a person who put USDC in a compound and earned 2.72 percent on it. Remember, this is, this was back in ways. This was in July. You get a lot more now for USDC. So, but there's a reason the interest rates are so much juicier. DeFi is a far riskier place to park your money. There's no FDIC to protect your funds. And if someone puts a, puts a run on compound, then you can't withdraw anything. Has it happened? Not yet. Will it happen? I have no idea. Plus the interest is quite variable. You don't know what you'll learn over the course of a year. USD rates are high. However, somewhere in the 1% range, it's much higher now. Will it stay high? Can't stay high. What goes up must come down. So what's yield farming? Yield farming is any effort to put crypto assets to work. The simplest level, yield farm might move assets around with compound, constantly chasing whichever pool is offering the best APY from week to week. This might move into risk your pools, but we're used to risk. So if you want to do that, go right ahead. In a simple example, yield farm might put 100,000 USDT into compound. That's a lot of money. They will get a token back for that state called CUSDT. Let's say you get 100,000 CUSDT, which right now is, I think, like two cents. CUSDT. Now USDT is tethered. So if you got 100,000 laying around, knock yourself out. And then to finish up, it says they can then take the USDT, the CUSDT, and put it into a liquidity pool that takes USDT, CUSDT on a balancer, and they can earn a small amount in transaction fees. So the more you have, the more you're going to earn, but you got to have a lot of money in this sense. Now these days, I mean, I've seen things like 12%, 14%, 18% APY. So they really want your stable coins because they need the liquidity. So why is yield farming so hard because of liquidity mining? Liquidity mining on a yield farmer gets a new token, as well as the usual return. Essentially, you are double dipping. So that's why it's so great. And that's why everybody's looking for the best rates. And that's it a nutshell, really. So I know that was long, but it's going to pay dividends in a little bit. So the tax part, because remember, it's not how much you make, it's how much you keep. So for instance, compound C tokens, a crew interest by becoming more expensive. So the interest is received when converting C tokens back to other assets. Hence interest rates on C tokens are taxed as capital gains rather than as income. That sucks. Major complication, of course, is reporting USD value of E transaction within the DeFi ecosystem. For active yield farmers, this can become incredibly tedious. Imagine every transaction that you had to do, because that's what it is. You're selling, you're getting interest. You have to record that and report that to the government. If you don't, the different places that if here's the thing, when you sign up for anything, did you put in your ID? Did you put in your social security? Did you put in your address? Because all those different things are going to big brother. So on some places you can get away with it. I don't know where those are. I don't want to talk about those because I don't want to deal with that. But if you've done any kind of AML, anti-money laundering or KYC, know your customers, the government knows and you got to watch out because we got to play by the rules. Now there's ways to minimize that and I'm not going to talk about that here. But there's a lot of different ways to do it. So to finish up, many transactions on Uniswap, for instance, involve multi-step conversion and every step should be reported in USD. Finally, if you end up lending your crypto along the way and the interest is paid each block, you will need to report each instance of receiving interest. So all the other things that you do is going to lead to you gaining some type of crypto. Now if you cash out into US dollars, if that's your thing, then you'll have to report that as taxes and I'm not going to go down here because the rest is just more depressing stuff. So I'm just going to make this super simple. Just use crypto trader dot tax. So back in June, I did a couple of videos for them and I still believe in their project. It's great. I personally use that for my taxes and you got to understand if I use it for my taxes, I trust it. I send it to my CPA. She did everything super simple, saved me a lot of time at Hardik and money. So if you're looking for that in the description of my videos, there's going to be a link going to look like this. And you still get a discount just for putting in that code or clicking on the link. So definitely use that. And for all the things that we just talked about, this is why I believe Ethereum is a 10K minimum coin. Everything's built on it. ERC 20 tokens, the new main net or Ethereum 2.0 is coming out with sharding and proof of stake and it's going to be super fast, hopefully on top of that plus DeFi. So I just don't see how this project can fail. The only way it can be is if you've got the people on the back coming up on their heels, you got Cardano, you got Tezos, you got, well, maybe Yeos, I don't know. And all the different other players out there that can do these types of things. But it remains to be seen. I just think it's going to be a big thing. Let me know which thing in the comment section. And that's going to lead me to the question of the day. So let's jump into my office. All right, everybody, and welcome to my indoor office. This is a little bit different than the actual pool office because I'm actually inside because it's like way too hot today. You'd like to be out there because it's just simple. So today's question and actually before I start with that, I'm going to explain to you after this why I don't record in this room too much to answer these questions. I've only done it outside because to me it only made sense. So anyhow, the question today comes from Fox, Fox Trot. Okay. And he or she says, Hi, just want to thank you for educating me on crypto. You're welcome. I don't think I've done that much, but thanks. So I like your analysis and learn from you a lot. I want to ask you a few questions. Please reply if possible. One, I want to start professional crypto trading, but I don't know anything about trading. I can't even understand basic terms. Though I invest in biggies like ETH, Bitcoin, Cardano, Link, I want to have basic knowledge so I can trade also. So to answer that first question is I am the antithesis. I am the wrong person to ask about anything about trading. I am not a trader. I don't do anything with it. And if you want to know anything about trading, you're going to have to go someplace else because I'm just not into it. And it doesn't, if you want to trade, that's all up to you. Great. I'm just not big into trading because I have other things to do and I don't have the patience to actually learn about it. I just dealt a cost average. I just go in and every week or every day I add in a certain amount and over time everything seems to work itself out. Now, there are times like in 2017 when you're going to have to hold some bags for a while, but in the long run. And that is a big thing. What are you here for? Are you here for the long run or are you here for just to make some money quick? If you're to make some money quick, there's some trading things out there you can try. You can be that 5% that makes it. I don't know. But for me, to answer your question, I cannot help you with this. And I will tell you what I know and I'll tell you what I don't know. And I don't know anything about trading. So that's that. Sorry. For the second one, it says I want to learn about decentralized finance also. Can you please guide me on where to start from the basics? And that is one of the reasons why we went so in detail with the DeFi, with the yield farming, and the basics, and going to some more advanced stuff. So I need to go over all those things just to help Foxtrot and hopefully to help some of you as far as like to centralize finance. And that's the big thing. So I hope that answered your question. Again, for the first one, sorry. I can't help you. I don't know. So that is the first part. The second part is I don't record in this room too much because or at all because the lighting is horrible. I have the lights back here. And if you know anything about video production, when you have the lights back there, it just sucks. So to get your lights up here, I had to get one of these things called a ring light. And it helps a lot. I'm going to show you the difference here. So when I don't have that and I shut this thing off, everything looks a little bit blotchy. It looks like I'm in some kind of weird place. Skin's a little bit off. And look, we're all vain. What are you going to do? So with this type of thing, if you are into making YouTube videos or making Instagram videos or Facebook or just want to look good, I definitely recommend getting one of these lights because it helps a whole heck of a lot, especially just to keep things in front of you. And it's pretty cool because it's just right there. It's very mobile. It's very light and it lasts so far. So if you know that, I'll put a link in the description. I don't get any money for that. It's not an affiliate link. It's just to link to, you know, where I got it. And that's it. Okay. And that's it. So thanks for watching. Really appreciate it. Before we go, just so you know that there is a join button. I don't, it's, you don't get anything special. It's just like a tip, like bug 99. But for everybody that does that, I just want to say thanks so much. So for the new ones, Frank Weinham, I don't know why you're up here, but you're a love of one. Patrick May, Victor Von Ravenswood. That's a good name. Victor Van Ravenswood. Ricky Taylor, Fulja, I like that. Jimmy J, Dan Haggerty, True Blue One, and Neil. That's pretty good. So thanks for joining. Really appreciate it. If you like those videos, too much is going to pop up on your left and right. Don't know. I have no controller with that. Just like the ads that you see. I don't know what if they're scams or not. I don't have control over that. YouTube does. So if you like these types of videos, too much is going to pop up. Check those out. See you on the next one.