Shownotes
Last episode we discussed how to earn interest on your crypto using centralized platform such as https://nexo.io. Crypto being crypto, there are decentralized methods to earning interest -- called "yield farming". Cutting out the middleman can provide a much higher return on your assets but there are risks we need to discuss.
During today's episode we cover the various ways that defi platforms can provide services that allow you generate that interest. I discuss the four primary ways that interest can be earned on these platforms. And of course we talk about risks of using a decentralized platform.
News
Links
defi yield earning platforms
https://www.anchorprotocol.com
solana based platforms
Podcasting 2.0 Apps Available at http://newpodcastapps.com/
I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!
Website
Music Credits
Protofunk by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/4247-protofunk
License: https://filmmusic.io/standard-license
The following music was used for this media project:
Music: Ethernight Club by Kevin MacLeod
Free download: https://filmmusic.io/song/7612-ethernight-club
License (CC BY 4.0): https://filmmusic.io/standard-license
Artist website: https://incompetech.com
Transcripts
Hey, everyone.
Speaker:No one on this podcast is a financial advisor.
Speaker:All information presented on this podcast is for informational purposes only.
Speaker:So now that we've got the legal stuff out of the way, let's jump on in.
Speaker:Welcome to the Generational Wealth with Cryptocurrency podcast.
Speaker:I am your host McIntosh.
Speaker:Today we are going to be talking about earning decentralized interest with your crypto.
Speaker:So this is going to be a follow up to the last episode where we talked about earning
Speaker:interest with your crypto through more centralized means like Nexo.io.
Speaker:But as people who are interested in crypto and decentralized finance, I thought it would
Speaker:be beneficial to look at some of the alternatives to a centralized platform like Nexo.
Speaker:So that's what we'll be doing today.
Speaker:We're going to be a little bit more in depth.
Speaker:This is definitely something I would encourage you to do your own research if you choose
Speaker:to go this route.
Speaker:I think we're going to be able to give you enough information so that you can decide
Speaker:if you would like to invest some of your crypto in decentralized yield farming or whatever
Speaker:you want to call it.
Speaker:But each one of these platforms, and I'm going to talk a little bit about Anchor, but there's
Speaker:a lot of decentralized platforms out there and I will certainly have a list of them in
Speaker:the show notes of some of the more common ones.
Speaker:You can check them out yourself.
Speaker:They do vary in their capabilities and what tokens you can work with on that platform
Speaker:and so forth.
Speaker:Before we do that, let's talk very briefly about the news.
Speaker:There's only one real news item this week.
Speaker:And this came out basically right after I recorded the last episode.
Speaker:I've already tweeted about it because it seemed to be something that was very time sensitive.
Speaker:If you're not following me on Twitter, it's at McIntosh Fintech might want to follow
Speaker:me on Twitter.
Speaker:But let's get on with the news.
Speaker:Metamask is advising users to disable their automatic iCloud backups of the wallet data
Speaker:to prevent hacks.
Speaker:So apparently this has already happened once.
Speaker:I'm not aware of any other hacks, but somebody did lose a decent amount of assets because
Speaker:of a compromised iCloud account.
Speaker:So the problem is you back up your Metamask data onto the iCloud system, Apple system,
Speaker:and they can end up compromising your Metamask account and then just stealing all of your
Speaker:stuff that's in your Metamask.
Speaker:So what this article is saying is that according to Metamask, they talked about this on Twitter,
Speaker:if you've enabled iCloud backups for app data, including Metamask, it's going to include
Speaker:your password encrypted Metamask vault file essentially.
Speaker:Now if your password on that file isn't strong enough and someone gets your iCloud credentials
Speaker:somehow, if they fish it from you or whatever, then you can end up losing those funds.
Speaker:So you've got multiple issues here.
Speaker:You've got iCloud that gets compromised.
Speaker:You've got a weak password on your Metamask vault, you know, all of which really should
Speaker:be red flags, but also you should just frankly disable this from being backed up.
Speaker:It's not something you want being backed up in iCloud.
Speaker:So just a word of warning to those out there, glad to see that Apple is allowing this integration,
Speaker:but we have to be careful about these things.
Speaker:All right.
Speaker:So first of all, real briefly, of course, the main difference here, last week we were
Speaker:talking about centralized websites like Nexo, right?
Speaker:They're basically a bank, right?
Speaker:You can view it as an online bank that is very crypto friendly and you can deposit things
Speaker:like your Bitcoin and you can earn interest on that.
Speaker:And it's a modest amount.
Speaker:It's not crazy, but it's better than what you would get in a traditional brick and mortar
Speaker:bank.
Speaker:Plus, of course, you're dealing with crypto, not cash.
Speaker:So that's all well and good.
Speaker:Along with that, of course, we get the downside of it's a centralized website and maybe your
Speaker:country doesn't allow access to that site or whatever.
Speaker:There's a number of issues with that.
Speaker:Now on the plus side, a number of these have gotten to be reasonably large.
Speaker:They've got insurance on their assets.
Speaker:I think they're being managed quite well, if that makes sense.
Speaker:And so I think there's a fairly low risk there if you put your assets on one of those systems.
Speaker:On the other hand, it's still centralized.
Speaker:So there are alternatives and we're going to talk about in general what these alternatives
Speaker:are.
Speaker:I will provide a list and I will also talk about the anchor protocol specifically.
Speaker:But the differences is, of course, these are decentralized.
Speaker:They're running on a blockchain of some kind.
Speaker:They're using smart contracts in order to manage the system.
Speaker:In terms of regulation, that's not an issue.
Speaker:They can't block a true decentralized app like this that's running on a blockchain.
Speaker:Now on the other hand, it does open you up to a few issues.
Speaker:Hacking, for example, would certainly be a major issue you would want to think about
Speaker:very carefully.
Speaker:That can happen through the smart contract.
Speaker:It can also happen through social engineering, which frankly could be an issue if you had
Speaker:a Nexo account, for example, on a centralized bank.
Speaker:So you can kind of counterbalance that.
Speaker:But Nexo is not using a smart contract to manage their assets.
Speaker:So that is what we would call a smaller risk profile.
Speaker:That's one less area that somebody could attack that system.
Speaker:Now you could have, and we've seen this, what we would call a rug pool where a developer,
Speaker:they build up a modest amount of money in the website itself.
Speaker:Maybe 10 million, 30 million, 100 million, and basically they rug pool.
Speaker:They walk away with all the assets.
Speaker:It's happened a few times.
Speaker:It's one of the reasons why I frankly let, I would never be involved in a site that's
Speaker:not already been around for a while and kind of built up.
Speaker:In my opinion, that minimizes that risk.
Speaker:So when these assets are brand new, when these decentralized platforms are brand new, they
Speaker:may offer higher interest rates or whatever, but there is downside to that.
Speaker:So certainly something you would want to keep in mind.
Speaker:Another issue is with some of these sites, certainly if they're Ethereum based, is the
Speaker:Ethereum gas fees.
Speaker:If traffic is high on the Ethereum network, then it can cost you quite a bit to move assets
Speaker:onto that platform.
Speaker:And so then you end up in order for that not to be a real issue, you have to put quite
Speaker:a bit of assets onto that platform in order to make it useful.
Speaker:So you can see how that would be a problem.
Speaker:That certainly on a number of these platforms can be an issue.
Speaker:On some of them, they're not all based on Ethereum.
Speaker:There's Solana Yield Farms, there's other yield farms as well.
Speaker:So that's not always a problem.
Speaker:Again, if you're going to use, if you're thinking about using one of these, I would encourage
Speaker:you to investigate them, take a look at the earnings potential, Google the sites, look
Speaker:up reviews of them or whatever.
Speaker:See what people's experiences have been.
Speaker:One other thing that you might want to take a look at, there's a website called DeFi Llama.
Speaker:I'll have a link to it in the show notes.
Speaker:It's a funny name for a website, but it's about decentralized finance.
Speaker:And one of the things that they do is they track what they call the TVL, the total value
Speaker:locked in different protocols in different websites like this.
Speaker:So you can plug in say the anchor protocol and you can find out the total value locked.
Speaker:And so that will help you engaging your potential interest in a site.
Speaker:You may not want to be using a site that has very low liquidity or relatively low liquidity.
Speaker:That can be very important.
Speaker:So you can use that as a tool when doing your research.
Speaker:I would encourage you to take a look there.
Speaker:All right, so there's basically four ways that you can earn money on these platforms.
Speaker:So I want to cover those and some of these provide higher risk, but potentially higher
Speaker:reward as well versus some of these being fairly stable and maybe you don't earn as
Speaker:much, but it's relatively risk-free if that makes sense.
Speaker:So there's four things.
Speaker:Liquidity provider, you'll see this, not advertised, a lot of times you'll see this abbreviated
Speaker:as LP, liquidity provider.
Speaker:So you're depositing coins to the decentralized exchange to provide trading liquidity.
Speaker:The exchange, when people buy and sell, they charge a small fee for that.
Speaker:And some of that or all of that is paid to the liquidity provider.
Speaker:It oftentimes is paid out actually in what they call a liquidity pool token.
Speaker:So you're actually getting your interest, so to speak, in another asset.
Speaker:And that asset, if a website, if an exchange, a DEX, a decentralized exchange is popular,
Speaker:maybe that token goes up.
Speaker:So not only are you getting those tokens as your payment, those tokens potentially could
Speaker:be going up.
Speaker:No, they could be going down as well.
Speaker:But you can also convert that to something else if you want.
Speaker:Second option is lending.
Speaker:So you are lending crypto to borrowers through a smart contract.
Speaker:And as part of that, you're earning interest paid on that loan.
Speaker:So you are, in that sense, becoming the bank for somebody, right?
Speaker:When you go in and get a loan at the bank, a line of credit or whatever, the bank is
Speaker:there backing that loan.
Speaker:In this case, you are backing that loan and it's all done through a smart contract.
Speaker:As long as that smart contract is, you know, bug free, there's a high degree of safety
Speaker:there.
Speaker:Borrowing.
Speaker:Farmers can take one token as a collateral and get a loan from another.
Speaker:You can then farm yield with the borrowed coins.
Speaker:The farmer is going to keep their initial holdings, which could potentially increase
Speaker:in value, and they're going to earn yield on their borrowed coins.
Speaker:So that's a little convoluted.
Speaker:It's probably not something I would be doing, but you do see some of the higher potential
Speaker:higher interest rates on that.
Speaker:And then finally, there's one called staking.
Speaker:There's two different forms of that.
Speaker:The first is like a proof of stake, where users are paid interest to pledge their tokens
Speaker:to provide network security.
Speaker:Now, of course, we've talked about this, for example, in regards to the Ethereum network,
Speaker:where you can on the upcoming upgrade, Ethereum 2.0, so to speak, you'll be able to do that.
Speaker:You already can, but it will be the main form of network security and that kind of thing.
Speaker:Going forward, you're pledging your tokens and in return, you're getting basically interest.
Speaker:So this is done.
Speaker:That's all done in the background.
Speaker:You just are receiving some form of interest on that, if that makes sense.
Speaker:The second is you're staking those liquidity pool tokens that I was talking about earlier,
Speaker:and you earn interest on that as well.
Speaker:That is actually a way that you can kind of double dip, so to speak.
Speaker:So let me go back to this for just a second.
Speaker:A liquidity provider, you're going to deposit one or more coins on a DEX to provide trading
Speaker:liquidity.
Speaker:The exchange, they get a fee for the trading.
Speaker:Part of that goes to the liquidity provider.
Speaker:Sometimes that is paid in an LP token, a liquidity pool token.
Speaker:You can then take that liquidity pool token, all right, and you can stake that and earn
Speaker:interest on that.
Speaker:So you're earning the liquidity pool tokens, and then over time, you can stake that liquidity
Speaker:pool token.
Speaker:So you can kind of double dip there and earn even better interest rates.
Speaker:So those are kind of the four main types of yield farming, what they call yield farming.
Speaker:There's some form of that going on at these large centralized crypto banks like Nexo.
Speaker:It's just not visible to you.
Speaker:You just deposit your Bitcoin or whatever, and you get, say, 5% return.
Speaker:They're doing this type of stuff in the background.
Speaker:That's how they make their money off of that, through lending, right?
Speaker:They're lending out that Bitcoin maybe to somebody, and in return, getting interest,
Speaker:and part of that comes back to you, just so that makes, hopefully, that makes sense.
Speaker:And what these are doing, they're eliminating the middleman, and in return, you're getting
Speaker:higher interest rates.
Speaker:Now, I was looking at the Anchor Protocol specifically at anchorprotocol.com.
Speaker:This is a website, a decentralized exchange or whatever, that's based off of the Terra
Speaker:network, and we've talked about the Terra network.
Speaker:And as an example, for staking their stablecoin, UST, right?
Speaker:The Terra stablecoin for the US dollar, they advertise around 19.5%.
Speaker:Now think about that.
Speaker:I go to the bank, and I have money sitting in a savings account, and what am I getting?
Speaker:1%, right?
Speaker:If I'm lucky, versus 19%.
Speaker:Now that's certainly not the highest exchange interest rates that you'll see as you poke
Speaker:around these sites.
Speaker:I happen to like Anchor Protocol.
Speaker:They've grown a lot over the last few years, or they haven't even been around that long.
Speaker:They've grown a lot.
Speaker:You can go look at DeFi Llama and go look at their total market, total value lock.
Speaker:I'm actually going to bring that up real quick, and let's see here, there it is, Anchor.
Speaker:So if you bring up Anchor, their TVL is actually $15.93 billion, and it looks like it started
Speaker:back in May of last year, so it really hasn't even been quite a year, and their growth has
Speaker:been quite steady.
Speaker:Of course, even these days, we've got the Terra Network buying Bitcoin that will impart
Speaker:back that stablecoin.
Speaker:But anyways, just as an example of what you could look at here and why this might be attractive,
Speaker:if I did something like this on Nexo, for example, I believe it's around 10% for a stablecoin.
Speaker:I can't put my fingers on that right now, but if I recall correctly, it's 10%.
Speaker:So it's roughly half that.
Speaker:So you see the power of this.
Speaker:Again, it's up to you to determine, do I want to enter into what could be a potential
Speaker:riskier situation versus one of these centralized banks in return for a higher reward and in
Speaker:return for using what really is a true decentralized platform?
Speaker:Now, in my opinion, and this is not financial advice, I would look at this and say, well,
Speaker:I'm not going to probably engage in some of these riskier things.
Speaker:The liquidity providing, from what I understand, has the highest potential of failure.
Speaker:That's just my opinion.
Speaker:But lending, for example, or staking, as another example, would be things that I would probably
Speaker:be interested in personally, and I would be sticking to a much higher profile platform.
Speaker:I'm not looking to get my highest possible interest rate versus, hey, this thing's been
Speaker:online for a year, right?
Speaker:Like with Anchor, and they've grown, they're backed by the Terra Labs, which they've certainly
Speaker:been around for a while.
Speaker:They're legitimate, and it's not going to get rug pulled at this point.
Speaker:So those decisions certainly are up to you.
Speaker:And if I had $100,000 in stablecoin, I probably wouldn't put it all on one of these platforms
Speaker:either, even though 20% or $100,000 is quite a bit of money.
Speaker:I believe that would be $20,000 a year, if I'm not mistaken, in interest.
Speaker:And that doesn't account for the compounding that would occur.
Speaker:So it's a significant return, but I would possibly put a decent percentage of that in
Speaker:there.
Speaker:I might put some on Nexo.
Speaker:So I mean, again, we've talked about these strategies time and time again.
Speaker:We want to spread ourselves around a little bit.
Speaker:You don't want to throw everything into one egg basket, right?
Speaker:You don't want to put all your eggs in one basket, as the saying goes.
Speaker:So all right.
Speaker:That is basically it.
Speaker:I didn't want to get too in-depth on this, but let's talk about, very quickly, I'm going
Speaker:to go through some of these websites.
Speaker:And this is not a definitive list, but Anchor Protocol, which I've already mentioned, backed
Speaker:by Terra Labs, a lot of options there, actually, as I was looking.
Speaker:I mean, there's like six different ways, it seems like, to do things.
Speaker:So for me personally, it'd be the one I would be looking at.
Speaker:Pearn Finance, Uniswap, they've been around for a while, Curve Finance, Aave, Sushiswap,
Speaker:Compound Finance, and then some Solana ones as well, which of course, these are all fairly
Speaker:new.
Speaker:Of course, we don't have the same type network fees that you would have on an Ethereum network
Speaker:here.
Speaker:So, and if you're into Solana, it's probably something you'd want to look at.
Speaker:Radium, Orca, Saber, Mercurial, and Synthetify, Atrix, and Aldrin.
Speaker:So those are all relatively new.
Speaker:And I'm sure I probably left somebody's favorite one off the list, and I do apologize, but
Speaker:there are a lot of them out there.
Speaker:I would highly recommend that if, one of the things that I think about as we wrap this
Speaker:up, and the reason, one of the reasons why I've done this for the last two episodes now,
Speaker:what are we going to do during a bear market if we have another true bear market like we
Speaker:had over 2018, 2019, and I think even into part of 2020, if I'm not mistaken.
Speaker:You can just hold your coin.
Speaker:You can try and sell it what you think is the top or some way somewhere down the backside.
Speaker:Or you could use tools like these to increase your assets, even while the market is not
Speaker:going up.
Speaker:So let's take, and Bitcoin is probably the worst example of this, because with Bitcoin,
Speaker:there's no real decentralized platforms like this, I believe there's some wrapped Bitcoin.
Speaker:So there's kind of some ways to do this.
Speaker:But with Bitcoin, you could go to something like Nexo, and you're getting like 5% or something.
Speaker:Would that be better than nothing while the price is kind of flipping around and we don't
Speaker:really know clear up, no clear down, kind of like the last, I don't know, year, really.
Speaker:But let it sit there and earn interest.
Speaker:If you did sell at what you thought was the top and you haven't gotten, we're not at a
Speaker:clear lead.
Speaker:Let's say you sold it 64K.
Speaker:Let's say you were that fortunate, right?
Speaker:What are you going to do with that stable coin while you're waiting to buy back in?
Speaker:Now you might should have already bought back in, because in my opinion, at least at this
Speaker:point, the bottom has been in for this drop down.
Speaker:I may be wrong about that, but it's what it looks like to me at this point.
Speaker:But hey, maybe you decide I'm buying back in at 50K.
Speaker:Well what are you going to do in the meantime?
Speaker:Putting it in something like this would be an option.
Speaker:I hope that makes sense and I hope this is helpful.
Speaker:I'm always trying to give you guys new information.
Speaker:You've probably heard about this type thing, but maybe you didn't know a whole lot about
Speaker:it.
Speaker:Again, please be careful.
Speaker:I personally would not be jumping into something that's brand new in regards to this, certainly,
Speaker:in regards to basically being a bank holding my assets, decentralized or not.
Speaker:Because even in a decentralized platform like this, of course, your asset is at risk, right?
Speaker:It's not in your wallet and it's not off the network, so it is at risk.
Speaker:You've got to keep that in mind.
Speaker:But clearly this is working for a lot of people, so the amount of risk clearly is not too
Speaker:great.
Speaker:So something to keep in mind.
Speaker:I'm going to go through, let's see, let's finish up a brief market overview.
Speaker:We did get a little bit of up.
Speaker:I don't know where exactly, I guess I'm going to have to start writing this down.
Speaker:I don't know where we were at last episode, but we've been up into the 42,000 territory.
Speaker:It dropped this afternoon, actually, down to right below 40,000, if I'm not mistaken.
Speaker:I may be mistaken about that.
Speaker:Right now it's at 40,700.
Speaker:Let me check my handy dandy little chart real quick.
Speaker:Bitcoin, yes, actually, it does look like we dropped right below 40,000, 39.8.
Speaker:Bit of bottom and it's kind of been chugging away.
Speaker:It's up almost $1,000.
Speaker:So hopefully we'll be back up.
Speaker:The level that it got to in the 42,000s, again, it's another resistance level that's pretty
Speaker:typical about this kind of stuff.
Speaker:I was a little surprised that it fell that dramatically, but hopefully it'll go right
Speaker:back up as well.
Speaker:We're still not in an area where we're clear about where we're going, at least in my opinion.
Speaker:I believe that we are going up, but there are certainly a lot of resistance.
Speaker:Until we pass 50,000, frankly, I will not be convinced that we're heading back up for
Speaker:all time highs.
Speaker:We could hit 42,000, 43,000, 45,000, 47,000 and turn around and go right back down.
Speaker:So if you're trading, please be careful.
Speaker:This is definitely a ranging market.
Speaker:Enough about that.
Speaker:Oh, well, this is actually in regards to what I'm fixing to say.
Speaker:I just want to point out, and I did not expect this to be honest, we're not a huge podcast.
Speaker:Our numbers are growing.
Speaker:They continue to grow.
Speaker:We potentially could have our highest downloads ever this month, which would be awesome, but
Speaker:I am already starting to get solicitations.
Speaker:People sending me email, people saying things like, hey, what amounts to, this is the way
Speaker:it'll go.
Speaker:Hey, we'll pay you to show our coin or our product, our new service or whatever that's
Speaker:crypto related.
Speaker:Now that's not their words.
Speaker:They would never use the word shill.
Speaker:But the marketing machines of a lot of these platforms is, I mean, that's what they do.
Speaker:They pay people to promote their product.
Speaker:The problem is in my opinion, especially for a journalistic podcast, which I guess I somewhat
Speaker:consider myself that, I can't take money from somebody and then turn around and give an
Speaker:honest review of their product, right?
Speaker:If Anchor were paying me to talk about them, and I happen to like the Anchor protocol,
Speaker:as I mentioned earlier, that would be completely illegitimate.
Speaker:How could I talk about them?
Speaker:Because they're paying me, it's going to skew my view.
Speaker:And in some cases, it's a lot of money.
Speaker:And then the other thing that happens, by the way, is when you get paid for something
Speaker:like this, you really, you're supposed to tell people, oh, this is a promotional, paid
Speaker:promotional thing or whatever.
Speaker:I don't think that happens, frankly, in a lot of cases.
Speaker:And this type thing is exactly why I am using the value for value model.
Speaker:Podcasting 2.0 makes it extremely easy for users to support the podcast to a very small
Speaker:level.
Speaker:You don't have to be sending us tens or hundreds or dollars or $5.
Speaker:You can stream me 25 cents.
Speaker:And frankly, I'll get very excited about that, maybe overly excited, because it's showing
Speaker:that my users are supporting what I'm doing.
Speaker:So as I've said, I've even spent basically an entire episode talking about it.
Speaker:We're not doing that model.
Speaker:We're not going to go on YouTube and get ads or ads on the podcast for that matter or whatever.
Speaker:And I am looking, in fact, at how I can do video content.
Speaker:Because there are a lot of times, and this would be one of them, where it would be very
Speaker:beneficial to have a video of what's going on.
Speaker:So I could go onto the Anchor site or one of these other sites, Uniswap or whatever,
Speaker:and kind of show you around, step you through that.
Speaker:And I think that would be very beneficial.
Speaker:But frankly, I refuse to put that on.
Speaker:I will not put it on YouTube and take promotional money for it, ad money.
Speaker:Now I won't say I won't ever put anything on YouTube, because YouTube is such, everybody
Speaker:uses YouTube, right?
Speaker:Well, I may end up putting that stuff on there simply because that's where people are.
Speaker:Not accepting any money, not putting annoying ads in the middle of the videos.
Speaker:But ultimately for our podcast, I want something that is completely outside of that whole ecosystem
Speaker:because I just, it's, corrupt maybe isn't the right word, but it's a system that I choose
Speaker:not to use.
Speaker:How about that?
Speaker:So I am looking at using some other forms.
Speaker:I have not decided yet and I have not pieced all that together.
Speaker:There will be costs for that, unfortunately.
Speaker:So we're going to have to wait a bit until the podcast is actually making some money.
Speaker:But I do ultimately want to do an audio and video version of this podcasting 2.0 actually
Speaker:will let you do that.
Speaker:And this part, the video, alternate media is what they call it, is not actually deployed
Speaker:in all the different podcast 2.0 apps, it's something that's newer.
Speaker:So I'm a little bit waiting on that as well because I want you to be able to go in there
Speaker:and choose, oh, I want to listen to the audio or I want to see the video or maybe even switch
Speaker:back and forth.
Speaker:I don't know if that will be possible, but certainly maybe not immediately, but that
Speaker:would be cool, right?
Speaker:Oh, he's talking about anchor and he's showing the website.
Speaker:So let's switch over to that so we can see that part.
Speaker:So that would be great.
Speaker:So anyways, I know I tend to rant maybe about value for value, but I just, I see so much.
Speaker:People don't realize how much the crypto market and people's attitudes are influenced by things
Speaker:that how can I put this?
Speaker:They think things are one way when they're not, because it's masked by all the money
Speaker:that's going on kind of in the background that doesn't have anything to do with crypto.
Speaker:And I don't want to tell people, you should never take ads or whatever, but I will tell
Speaker:you this, there's somebody, I mentioned him before talking about YouTube, Benjamin Cowan,
Speaker:one of the people that I do watch from time to time on YouTube, he has never to my knowledge
Speaker:done an ad and he has a lot of followers and he's been in crypto for a while.
Speaker:He's super smart individual.
Speaker:You may not agree with his theses, but he's not shilling some coin based on who gave him
Speaker:money that week.
Speaker:I will assure you of that.
Speaker:He has arrived at the conclusions on his own.
Speaker:So anyways, that's very rare, unfortunately in crypto.
Speaker:Anyways, I'm just out here trying to be a pioneer, I guess.
Speaker:The generational wealth cryptocurrency podcast supports the podcasting 2.0 platform.
Speaker:It's a value for value podcast with no sponsors and no advertising.
Speaker:You can support the podcast in three ways, time, talent, and treasure.
Speaker:If you want to support the podcast and has some time or talent, I could use some help
Speaker:with some things such as chapters for the podcast, transcripts, and probably a few other
Speaker:things.
Speaker:Treasures, just what it sounds like.
Speaker:If you find the content valuable, you can support the podcast by streaming sats from
Speaker:a podcasting 2.0 app or sending support via PayPal to mcintosh at genwealthcrypto.com.
Speaker:You can get a podcast 2.0 app for the optimal listening experience at newpodcastapps.com.
Speaker:Hey, thanks for being here.
Speaker:I hope this has been helpful.
Speaker:I would love to hear from you.
Speaker:I'm on Twitter at McIntosh Fintech.
Speaker:You can reach me by email at mcintosh at genwealthcrypto.com and of course, the generational
Speaker:wealth website at genwealthcrypto.com.
Speaker:Now go out and make it a great week.
Speaker:Thanks for watching.