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#3 - Inception Stories, Lessons from Mistakes, Reimagining a Start Today, and the Influential Projects Shaping Our Journey
30 Plays10 months ago
In this third episode, we speak about our first crypto experiences, which wallets we used, our mistakes, what we would do if we started all over again today and the projects & companies that inspire us and we follow today.
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Transcript
00:00:00
Speaker
Hello, everyone. Welcome back to our podcast. Thank you so much for everyone listening, a lot of feedbacks.
First Crypto Mistakes and Lessons
00:00:09
Speaker
And yet today I'm again with Jules and Samuel to discuss our first crypto mistakes, our first wallets that we use, the mistakes that we have done and the experience that we would
00:00:22
Speaker
have liked to have before, but it's by doing mistakes that we learn. The projects that we are interested and involved in, and the companies that inspired us in the Web3. Hello, Jules. Hello, Sam. How are you doing, guys? Hey, guys. I'm really fine. Thanks to be here again. I really appreciate it. And yeah, let's talk about
00:00:48
Speaker
about our first step in cryptocurrency. This is a topic who really enjoy me. Sam, I hope you will be here also and I know you have a nice journey since you have joined the crypto ecosystem. Hi guys, happy to be here again. Yeah, definitely. I think
00:01:07
Speaker
We've all got interesting perspectives and journeys that brought us into crypto and how that all started. So yeah, I think that's going to be a fun one today. I might learn a couple of things on you guys, although we've spoken about it before. Boris, would you maybe like to kick off?
Emotional Management in Trading
00:01:27
Speaker
Yeah, I think as you said, I think the crypto trading expert is more some if we have to design one. But yeah, I can share and I have taken some notes on my crypto mistakes. I think I didn't make much, but I have met some. And I think I panicked as soon as I made the profit. So in the first episode, I was speaking about the 20 euros that I
00:01:56
Speaker
received in of Bitcoin in my my Serum wallet and I had I bought also 100 euros on Binance I think I'm not sure if it was Binance, but I think it was Binance and that 120 euros turned into 300 euros something like that and I sold when Bitcoin was worth 14,000
00:02:17
Speaker
So the top, more or less, of 2017, that was 20,000 euros. So I practically sold the top, and I was proud of myself saying, yeah, I got a good return. I made almost three times my money. And when I saw the return to 4,000, sorry, which happened extremely quickly afterwards, even though I immediately understood the financial interest in terms of trading, as I said in the first episode, I was
00:02:45
Speaker
always been more interested in the technological aspect and so I always have a protective approach to my investments. I have always considered cryptos as risky assets and I have the same consideration today.
00:02:57
Speaker
As far as I'm concerned nothing is guaranteed in crypto, returns can be high because the risks are high and with experience I wish I would know how to manage my emotions better. What I mean by that is basically buy and sell without emotions and in other words I would have liked to be able to buy right back when Bitcoin was worth 4000, it's easy to say no of course.
00:03:20
Speaker
But I bought Christmas presents for this 300 euros and my winnings that I have made in Bitcoin and I never thought that would have been possible so I have absolutely no regrets but from a poorly trading and investment point of view I would have liked to have bought back quickly and understood the buy the dip sell the top concept sooner and I'm curious to know what
00:03:46
Speaker
Is your first step where, what were your first steps in the crypto and blockchain universe?
Jules' Crypto Journey and Scams
00:03:53
Speaker
Jules or Sam, I don't know who wants to share their first steps and first mistakes. My first step in the ecosystem and my first purchase was on Binance.
00:04:05
Speaker
I don't really remember because I think it was like 10 or 20, 30 euro of Bitcoin. I remember in 2018 starting buying a lot on Revolut because at this moment Revolut start to
00:04:23
Speaker
put the option of buying Bitcoin, Ripple, and Ethereum. So I was buying the Revolut for one year, approximately. I remember the spread was really huge. What I mean with the spread was really huge. It means like, for example, Bitcoin is 15,000 euro. When you buy Revolut, you buy at the price of 15,300, for example. So there is a spread of 200.
00:04:53
Speaker
At this time I didn't have a really good
00:04:57
Speaker
plan. I just want to buy some crypto, just follow the wave. It was the bull market. And yeah, I have no plan at this time. Boris will talk about emotion. It was really, really difficult. I mean, I just put some money without looking at anything. And I remember my first big mistake was like, OK, let's start to find a way
00:05:28
Speaker
of exit I mean when I will sell my crypto when I will buy and you know like a beginner I was at the end I was buying at the top and selling at the selling at the bottom so yeah it was really difficult I would suggest for any beginner in the crypto space to
00:05:48
Speaker
start to make a plan. I mean, it's really cool to make the first step at just buying 10, 20 euro of Bitcoin, maybe doing your first transaction between two wallets, three wallets, starting using MetaMask or another DeFi wallet, a decentralized wallet, sorry. But yeah, definitely
00:06:11
Speaker
I remember at the beginning, yeah, I was looking at nothing, just buying for fun. And yeah, I have over nice details about my journey, nice and bad things. I mean, I also was scam 12 Ethereum in 2019, something like that. I bought 12 Ethereum when it was
00:06:38
Speaker
$175, and I was scam when it was $800 before the big bull market. So I don't remember what date it was at this time, maybe 2020, something like that. And yes, like an idiot, I was scammer, and I lost everything. It was really bad, like, yeah. And after that, I restart to
00:07:08
Speaker
to buy, to make a plan on my journey, et cetera, et cetera. But let's talk about it after. I don't know, Sam, if you have something to share about your first step in the crypto ecosystem.
Sam's Trading Philosophy
00:07:20
Speaker
Yeah, I do. I think everyone has their little stories of how they got into it. And it's interesting to see how you guys kind of what brought you in. For my sign, it was
00:07:31
Speaker
a big part of what brought me to the crypto so i was just getting into trading in 2016 and so i was kind of starting to look at the markets looking for volatile i had a small capital at the time had not a lot of money i was probably just turned 18 around then so little money in the bank trying to find a way to make some more money and i thought well crypto is volatile it's
00:08:01
Speaker
financial i can trade it i can make money from it let's give it a shot so i actually ended up buying at the peak of i believe it was 2017 just before the market kind of uh like tanked basically so i bought at the very highs
00:08:19
Speaker
watching it all the way up and i was in i was too patient i took my time was just looking at it and then and then i got to a point where it was your typical kind of what buggies touched on like emotions are typically like foam mode in so i bought at the top and then it it just all went came crumbling down but fortunately
00:08:41
Speaker
it was ethereum i kept on to it and then a couple years later i was back in profit so i think that's one one lesson learn you gotta hold some bags but for me the crypto so i mean along the way i've learned about the wallets
00:08:57
Speaker
All of that so I mean I've done I did airdrops to kind of get some free crypto at the beginning Try to build some bags most of it was worthless, but some of it ended up being pretty lucrative Obviously as you touched on if you got crypto you gotta have wallets. You gotta have a bit of knowledge about that I've had wallets. I've lost the keys I've lost multiple wallets that's more my duty to my
00:09:24
Speaker
Incompetence, let's say. And then, yeah, for the rest, for me, it's really just trading. That's why I'm still in it. I love trading. I love crypto. And some of the mistakes that I've made on that, I mean, I've invested in shady projects for the sole purpose of returns, focusing on short-term value. Not that that's a bad thing, but you've got to keep that in mind and not get emotionally attached. You've got to be able to cash out when you feel like you've made enough money
00:09:54
Speaker
but then again what is enough money you know and then obviously there's all the more training things like over leveraging not cashing out not having a structured plan as you said so I think all of those things are mistakes that I've made in the past and I keep on making some of those mistakes to this day but
00:10:15
Speaker
Yeah, we try and live and learn improve ourselves every day and you're always learning with crypto I think that's what's really interesting
Emotional Challenges and Planning
00:10:23
Speaker
about it. Yeah, and you say it's something really important What's enough money and what's the plan because I mean you can make a lot of money But what's the plan in your head? I mean when you buy for example Bitcoin at $30,000 or let's go
00:10:42
Speaker
Let's go before in time, imagine in 2018, you are convinced about the technology of Bitcoin, you just want to focus on Bitcoin, you buy a lot of part of Bitcoin, I mean, $200, etc.
00:11:00
Speaker
What do you think and what what you believe? With Bitcoin because for example, you can buy one Bitcoin at eighteen thousand dollars Then you see you see it at six sixty five thousand but if you believe on the tech in the technology of Bitcoin if you are convinced about what Bitcoin can afford bring to our society and
00:11:25
Speaker
I mean, you can sell at $65,000, but you can be also convinced that the pre will be higher and higher and higher over the time. And then you can think about keep it and just don't look about the price and wait for 10 years. So that's why the plan is really, really important. And that's why, I mean,
00:11:48
Speaker
How much money is enough? Because some people are just looking about money, they are going crazy, and they lost everything because of emotional things, because they don't have
00:12:01
Speaker
For me, I have always been super protective. Of course, the vision and the belief that, okay, what is the price that you are willing to accept? Basically, it's a nice question. Me, I'm always trying to think in my own timeframe.
00:12:21
Speaker
Basically, my process of finding my price is, first I ask myself, should I have met this price before? So in my case, in the first time, I think it was a really good decision to say, okay, I bought it when I received it for free, when it was $2,000.
00:12:39
Speaker
500 dollars. I received 20 euros. Okay, it's free. I cannot lose anything. Then I buy 100 when it was maybe 4,000. Okay, so it's 120 and then when it reached 14,000, I was like, whoa, I didn't expect to meet that price. So it's the higher price that I'm comfortable with to sell. It's the higher price that I have ever met or I have ever seen. So I'm comfortable to sell and I try to
00:13:05
Speaker
to always think like this, okay, last time Bitcoin was 65, Ethereum was 4,000. I saw that maybe 3,500, something like this. So I'm always trying to think, okay, which price is the highest that I have known?
Trading Strategies and Platforms
00:13:21
Speaker
And if it's the case today, I try to force myself to sell even if it's really hard. Then for the wallets, I wanted to touch about the wallets. I always stayed with my Ethereum.
00:13:34
Speaker
At the beginning, MetaMask can ledger a little bit later and regarding exchange platforms to buy crypto, I only used Binance, Conbase and Kraken. Then for trading, I have used more than 10 platforms and each are more exotic than the last, so I don't want to list them all here, but some people that are listening can know me, you know that.
00:13:52
Speaker
I'm well-known, let's say, to be able to make a good review of all the exotic platforms available. And with the experience I have today, I would have liked to have been more rigorous about my trading from the outset, so I have been quite rigorous, but I would have liked to be more.
00:14:09
Speaker
And I would have liked to read books earlier. I would have also liked to watch more videos on the mental aspects of investing. I'm thinking in particular of a book called The Intelligent Investor, which I highly recommend. There is only one French technical analyst I follow today, Vincent Gan, who is coming in Cryptoste, who I think is the best in France.
00:14:33
Speaker
And I don't consume any crypto trading content in English. If you have any recommendations, I will resource this episode's blog post with a tweet from Numeramesh, inviting you to share your best crypto trading and technical analysis content creators. By the way, I would like to take this opportunity to thank you so much, many of you guys and girls, for writing in and giving us ideas for improving the podcast.
00:14:58
Speaker
That's great. Thank you very much. Feel free to leave a rating for the podcast, a five star rating on Spotify or Apple Music, Apple Podcast. Sorry, we're just starting out. Thank you very much. And yeah, basically that's my points there.
00:15:17
Speaker
Yeah, I wouldn't mind touching on what you said. I think it's an interesting question of knowing, obviously, when you want to enter. If you want to hold something long-term, short-term, when do you buy, when do you sell? These are questions that everyone will be asking themselves at some point in time. Maybe you just bought a crypto, it's 10x, then you're like, is it going to 20x? Am I going to double up? Should I double down? Should I cash out? Should I just
00:15:42
Speaker
Keep it should I take some of it the possibilities are endless in that sense and I Think it's important to keep your eyes on the prize. You gotta have a goal long term and So on one end, I think when you're trading like Bitcoin, for example You've got to have in mind if you're a long-term believer, you've got to have that core position so you'll always have a bag of Bitcoin and your goal is to either maintain that or make it grow and
00:16:11
Speaker
On the other side you'll have your more speculative positions where you're trying to just trade in and out make money To either like simply make money cash out and have more money for trading or to add on to the Bitcoin stack And also in trading I mean You can do both at the same time if for example you're trading because you can trade you don't have to trade
00:16:34
Speaker
one crypto against a fiat currency or like USDT which is backed by the dollar. You can trade cryptos against themselves so that's also another way of kind of building your stack.
Long-term Investment and Discipline
00:16:51
Speaker
But for me, typical technical analysis, you've got to have your entry point, exit point, you've got to plan different levels, and then you've got to try not putting motion into it. It's easily said than done.
00:17:08
Speaker
but I think that's the most important for me. And at the end of the day, you will miss a lot of opportunities. You will get FOMO. You will be disappointed because you bought a crypto, cashed out, and then it 10x'd once you cashed out, or your stock just got hit, but that's just the game. You've just got to stick to it. If you're disciplined, rigorous, follow the plan and structure that you'll be able to keep your head up and keep moving on whilst you stack some stats.
00:17:37
Speaker
Yeah, I totally agree and the things is that
00:17:40
Speaker
When you are a beginner, you don't really think about what could happen. For me, the best things that could be worth a lot is buying and forget that you bought some Bitcoin, some Ethereum, or anything else, and just wait. Because like us, when you're working on the ecosystem, I mean closer or not,
00:18:08
Speaker
I mean, you are aware of what happens in the crypto ecosystem every day. If not, I mean every two or three days, you are aware of every big news, every big pump or big dump of crypto. So it's like you can change easily your mind. And it's really difficult when you know a lot of things about the ecosystem.
00:18:30
Speaker
than when you just start as a beginner. So for me, actually, the best place is the beginner perspective. What I mean, it's like you buy some Bitcoin and then you just don't fucking care about what will happen in the ecosystem, even if there is a bigger FTX, or ledger, or anything else.
00:18:57
Speaker
because I mean the lack of new age you have
00:19:04
Speaker
can be worth more than a lot of new age. Because when you have a lot of new age, you are thinking about every detail that can happen. And when you are just a beginner, you don't think about everything. So, yeah, I mean, I'm a bit mitigated about that. I don't know what you guys think. And yes, I mean, the plan is really important. I'm sure about that.
00:19:33
Speaker
No, I totally agree. I think I would add that it's more important about how do you define yourself and how I define myself and how Sam is defending himself. And in my case, personally, what I would recommend to myself is to know my different kind of profiles, if I can say. So I will have my profile that is the Boris that is keeping crypto for the long term. That is what I'm doing with Sora and we will touch just after the projects that we are interested in.
00:20:01
Speaker
and the companies that inspire us. But what I mean by that is that the Boris that is investing into server is not the same that Boris that is trading in an exotic platform with leverage. So I think it's important to dissociate the timeframes, as you guys said, what is short term, what is long term, to have also the price, what is your price, you are comfortable to sell.
00:20:26
Speaker
What is the price you're comfortable to buy? And yeah, and dissociate the different activities and the different expectations that you can have with the crypto projects that you are getting involved in. In the beginning of Surur I would have never thought to have more than 1,000 euros locked, let's say, or spent into the game.
00:20:52
Speaker
Today, I have much more confidence. I have seen a lot of investors in ways investing and making money, so I'm more confident to let.
00:21:00
Speaker
5000 euros and more. So I think the expectations and the way you define your investments, your profile and depending on the activities and where you spend the money, you have to be rigorous and I have to be rigorous. I want to be rigorous.
00:21:23
Speaker
and have clear expectations, clear rules, and say, OK, this I'm comfortable to do it. I'm comfortable to lose 200 euros on the exotic trading exchange platform because I'm using a crazy leverage. But on Solver, if I'm losing 200 euros, maybe I will a little bit
00:21:40
Speaker
getting real about myself because I know that I can do better. So I approach it like this. I don't know if it makes sense, but it's my... Yeah, I think everybody's got different perspectives on that. I'm thinking, should we move on and talk about the projects that we're all kind of interested in at the moment?
Insight into Consensus and Key Figures
00:22:00
Speaker
There are a few companies that inspire me and are innovating in the blockchain technology ecosystem. One is Consensus. In fact, I would love to invite a Consensus executive or employee to speak on the podcast. Consensus describes itself as a blockchain software company working at the forefront of the decentralized web.
00:22:18
Speaker
ConsenSys was founded by Joseph Lubin in October 2014 and is based in Fort Worth. The website is ConsenSys.io, maybe that's why I love websites that end in .io. ConsenSys believes that everyone should have access to tools that harness the power of Web3 so we can collectively build the world we all want to see.
00:22:41
Speaker
You are a builder, we all are and together we are an unstoppable force. Consensus is the leading blockchain and web3 software company.
00:22:51
Speaker
Since 2014, ConsenSys has been at the forefront of innovation by honoring technological developments within the WebSphere ecosystem through their product suite, including the MetaMask platform, Infura, Linnea, Diligence, and their NFT platform. They have become a trusted collaborator for users, creators, and developers. Whether building a DAP, an NFT collection, a portfolio, or a better future, the instinct to build is universal.
00:23:20
Speaker
Their mission is to inspire and empower the builder and everyone by making web3 universally easy to use and develop on. And they say on their website, quote, every once in a while, an idea is born with the potential to change the course of history, end of the quote. And they continue, an idea that will fundamentally change every industry and force the evolution of our existing political, economic, and social systems.
00:23:48
Speaker
Consensus was founded based on one such idea. The vision is to transform the world's digital architecture into a more open, inclusive, and secure internet of value and ownership. Joseph Lubin is a co-founder of Ethereum and the founder and CEO of Consensus. Born and raised in Toronto, Lubin graduated from Princeton University with a degree in electrical engineering and computer science.
00:24:17
Speaker
As a software and AI consultant, Lubin worked with eMagine on the iDentruth project and was involved in the funding and operation of a hedge fund with a partner. He held positions as director of the New York Office of Blacksmith Software Consulting and VP of Technology in Private Wealth Management at Godman Sachs.
00:24:45
Speaker
Through these posts, Joe focused on the intersection of cryptography, engineering, and finance. In 2014, he met Vitalik Peturin, a Canadian programmer, writer, and founder of Ethereum, and joined the Ethereum project as a co-founder.
00:25:02
Speaker
After the project was launched, Joe established Consensus. Since 2014, Joe and the Consensus team have been working on the foundational software for Web3. It started with an idea. Vitalik presented his vision for executable smart contracts at the Bitcoin Miami conference in 2014,
00:25:23
Speaker
Joseph Lubin, consensus founder, flew down to Miami to begin preparing for what would be the launch of the largest smart contract blockchain, Ethereum. Even before the first block was confirmed on Ethereum, consensus alongside different developer teams around the world helped contribute to what would become the Ethereum protocol.
00:25:44
Speaker
Consensus is a middleware layer for developers to bootstrap the network. Between 2016 and 2019, the first group of projects within Consensus launched to market. MetaMask became one of the first wallets available for interacting with the Ethereum network, whether to send Ethereum or other tokens to friend or connect your wallet to a DAP.
00:26:05
Speaker
Infura created an Ethereum API so other Web3 developers could bootstrap applications without having to take on the burden of running their own node infrastructure. And it was the beginnings of mainstream adoption. By 2020, consensus restructured to become an integrated software company to support both developers in building novel Web3 applications and end users to interact with them.
00:26:35
Speaker
By supporting protocol development, both on Ethereum and other Ethereum-compatible blockchains, consensus played a critical role in fostering the first major wave of adoption in decentralized finance, also known as DeFi, non-fungible tokens, NFTs,
00:26:53
Speaker
and decentralized autonomous organizations, GAOs.
Paris Blockchain Week Highlights
00:26:59
Speaker
Another company that inspires me is Chain of Events, the company that organizes Paris Blockchain Week. Indeed I think the idea is brilliant and the fact that since the first edition they have seen big things true to the end, I love it.
00:27:13
Speaker
I was lucky enough to work on the organization of two editions of Paris Blockchain Week. One took place digitally, as it was winter 2020 and COVID prevented the event from taking place physically. Another edition took place in April 2022 at the Palais Bronnier.
00:27:30
Speaker
Finally, I had the opportunity to take part in a third edition as an exhibitor on behalf of CoinX. I am not going to go into too much detail on the organization of the event, as I helped the team publish posts on social networks, find sponsors and deal with logistical issues.
00:27:47
Speaker
What I can say is that I'm impressed by the value in terms of content created during this event, and I'm also impressed by the quality of the audience, most of whom are qualified and C-level, serious people who are building on actively participating in the development of web3 projects. This is certainly due to the price of the ticket, which is not accessible to everyone. I also admire the sales team's ability to sign deals and partnerships with the main media and companies in the ecosystem.
00:28:16
Speaker
Seeing the BFM TV channel create content broadcast live from the Palais Borogneur or the Palais du Louvre, WOW bringing in Bruno Le Mer, Minister of Economy, other ministers, SIZED, the former CEO of Binance, the curacy of Binance, who was at the time the CEO, team dropper, etc. It's not everyone who can boast of organizing events on this scale.
00:28:44
Speaker
Even during the private party, which is supposed to be a festive evening, the quality of the guest was just incredible. I met some big traders, the head of NIO and other big fish. In short, all this to say that the price of a ticket, the price of a sponsorship and the price of a bus, if the buyer takes it seriously, pays for itself very quickly.
00:29:05
Speaker
So that inspires me and I wanted to talk about it. I haven't mentioned the talent fair or the startup competition because unfortunately I haven't had the opportunity to follow these events. But I'm sure that the participants are very satisfied with their participation.
00:29:21
Speaker
Another company that inspires me is Ubalcio, a French crypto asset tax assistant, indeed to have the idea of helping French people declare their cryptos and to start working on software for this in 2018 is just awesome. I have been lucky enough to work for this company and I'm also thinking of creating an episode dedicated to my adventure at Ubalcio.
00:29:41
Speaker
my learnings and in general the best practices I have observed among Web3 company founders, my managers, my colleagues and my own best practices. Another company that inspires me is Sohar.
00:29:55
Speaker
Sorer, or you want to spell it, to pronounce it. I would create an episode dedicated to Sorer. I would love to invite one of the first Sorer users. I will have to send a few messages to organize this and then publish the podcast.
00:30:12
Speaker
As you know, Soha is one of my main interests, so it makes sense to dedicate an episode to it. I will try to make one of the next episodes speak to the general public as well as to people who play Soha regularly. Finally, four other companies inspire me greatly.
Inspirational Companies and Future Episodes
00:30:31
Speaker
Request Finance, Ethermail, GYDX and Bybit. I would like to create dedicated episodes for each of these companies because I think they are top-notch. There are a few companies that inspire me and are innovating in the blockchain technology ecosystem. I cannot mention all of them.
00:30:54
Speaker
Just to give you a bit of context for me, I compare, I mean, it's not the same, but I compare the crypto ecosystem with the traditional markets, just to get a general overview, perspective of what can happen, what cannot happen.
00:31:11
Speaker
And I compare every crypto project and crypto company to a stock market. For example, if we talk about Ultra, about video games, etc., etc., I will compare it with a stock market, not necessarily
00:31:33
Speaker
a stock market who exists, but also a real stock market. But for example, I will divide every crypto in different sectors. There is the sector of video games, DeFi, Playtwirl, etc. And then after making a general overview,
00:31:55
Speaker
dividing different crypto projects into different sections, I will say, okay, now I can go ahead on this particular segmentation about DeFi. And then I will have a list, for example, of 10, 15, 20 maximum DeFi projects. And I will say, okay, which one is the more interesting?
00:32:20
Speaker
which one is not, you know, developed at the moment, but could be really huge in the future or near future, you know. And so, I mean, I don't have a particular project in my mind, but this is how I'm trying to find some, you know, some good projects and how to go in.
Momentum Trading and Market Dynamics
00:32:46
Speaker
Yeah, I mean, I'm always kind of keeping an eye on things. I've got no kind of long term projects or up and rising projects that I'm keeping an eye on at the moment because I'm mostly focused on the trading. But I'd say the way I kind of find things that I find quite interesting, obviously, I'm always every day
00:33:08
Speaker
looking at the Bitcoin chart, Ethereum. So I'm looking at those constantly to kind of get a sense of the market because they are a big part of it. They constitute a huge part of it. But I also overall keep an eye on kind of the general macro like situation worldwide because we're kind of in a particular
00:33:32
Speaker
environment at the moment with interest rates and whatnot because that impacts a lot of the risk on risk off effects all the money flows and so what I'm looking for is usually well Bitcoin kind of leads the way and then the altcoins
00:33:49
Speaker
tend to follow and then you've got a bit more shit coins and and all that shit as you'd say that follow so what I do is I kind of go through all the chats and I try and find coins that haven't
00:34:03
Speaker
quite pumped yet. I'm more of a momentum trader so I'm looking for certain patterns like a bull flag for example really focusing on the candles and trying to see relative to Bitcoin or a majority of the coin so you can even scour through the top hundred in CoinMarketCap and try and find what are the most undervalued
00:34:27
Speaker
Coins in the market and also another thing coin market cap. I think it's a great website It recaps a lot. It's got a lot of metrics and also I remember Reading an article like a couple years back away was a friend that was telling me about it And it was a strategy of whenever crypto enters the top 10 you buy it and whenever it leaves it you you sell it so I do not apply that principle, but I
00:34:55
Speaker
Keep an eye on the top hundred and the top hundred ten because on coin market cap you see the top hundred coins and Then you've got to go to page two and when you're on page two if you look at those hundred to hundred ten That's where things are at a market cap where it starts to get interesting and you can really potentially get some big winners on that I remember surfing on one inch a couple years ago made made big bucks on that and
00:35:23
Speaker
But yeah, that's kind of how I approached the market at the moment. No specific views. I had an eye on coin market cap, no, sorry, Cardano, Cardano over the past week. So that went from what, 0.42 to point almost 60, 65. So that was an interesting one. And I think Solana's one I'd like to keep an eye on as well.
00:35:48
Speaker
You talk about Solana, that's really interesting because, you know, I am a big fan of Multivir X, and I said the whole project was named Elrond, now it's Multivir X and Eagle. I'm thinking about that because I saw a lot of people who, I mean, both community are making war on X. Like, Multivir X is better than Solana, now Solana is better, et cetera, et cetera, et cetera.
Top 10 Crypto Strategy
00:36:16
Speaker
Yeah, to be honest, you said something interesting I never think about. It's like when the new cryptocurrency enter the top 10, you buy it. And when it leaves the top 10, you said it's right. Yeah, exactly. So it's just because, I mean, obviously, it's all like market cap driven. But it just means there's more money that's going in and is a way of kind of
00:36:43
Speaker
So the top 10 cryptos will form a majority of the crypto market in terms of market cap. And so by doing that, it's almost as if you're creating a synthetic index of the market representing most of the market.
00:36:57
Speaker
So yeah, if it goes in the top 10, you buy it. So if something's 11 and it goes to 10, you buy it and what's 10 and goes to 11, you sell that. So that's kind of a, when you're holding a bag and it's kind of portfolio diversification as well, you can add weighting to it if you want. But yeah, that's kind of the strategy on paper.
00:37:20
Speaker
Yeah, okay. That's a really, really interesting strategy. You also talk about CoinMarketCap. It's good tools for people to follow their crypto, to
00:37:35
Speaker
make some research. I don't think it's enough to go in
Research and Avoiding Red Flags
00:37:41
Speaker
in a crypto. I mean, you can find a lot of information on CoinMarketCap, but for me, in order to get maximum information, you also need to
00:37:52
Speaker
to look about the website, the team, the white paper of the team, etc. to find a lot of green flag and not red flag. Because for me, when I find only one red flag on the crypto project,
00:38:12
Speaker
It's really difficult to go in. I mean, if I can find the team on the website or everywhere,
00:38:24
Speaker
it will be difficult if I don't find a white paper it will be also difficult and then I'm looking into the tokenomics etc etc so yeah this is I mean that's why before I said it's sometimes I feel like I would like to be a beginner again on the crypto ecosystem like to be like I mean not an idiot but not aware of what could happen what could not happen and just you know buying some crypto and
00:38:54
Speaker
every beginner have the luck, one time's luck, you know, and make the good entry without knowing it's a good entry. So that's why it's really, really difficult when, you know, when you have more and more and more new age inside this ecosystem, because you are thinking about more and more barrier you can
00:39:20
Speaker
you can find so it's like information overflow you get a bit too much and obviously you want to have a checklist when you're going through projects whether it be the white paper tokenomics all the things you mentioned but you don't want it to be too sophisticated you want it to be pretty simple so it's yes no and if you've got a certain amount so yes or it's all ticked then you might put in the list and look at it further
00:39:47
Speaker
I like your approach. It's kind of the way you've been talking about it, kind of comparing it to stock market, having all these checklists makes me think it's kind of a VC venture capitalist kind of approach to really focusing down on like the fundamentals of the coin. And I think that is important. And I mean, through time, what's funny is over the years,
00:40:12
Speaker
the way people have analyzed crypto and kind of put value on coins has evolved. At first, I mean, you had all the technicals, then you had the white papers, and then we learned that well, anybody can create a crypto, anybody can create a white paper. So then you've got to look at the team behind it.
00:40:33
Speaker
then you've got to look at the tokenomics that remember a couple years back that was the big one really looking into the tokenomics to see give you an idea of if it's a scam who owns the coins etc i think that's a really really important one and i mean yeah there's a lot of cryptos which are interesting at the moment
00:40:54
Speaker
a lot of things to dig into and obviously at each new cycle at the moment i mean bitcoin has been been going up lately so it is a time where there's more interest more eyes being put onto crypto a lot of news around it talks about ETFs getting launched you've got all the institutional money in the system now
00:41:19
Speaker
And there's going to be more people interested, which means also there's going to be projects that are going to be developed that are going to come. There's going to be old projects that are going to disappear, might just die down. So definitely a lot of opportunities out there. A lot of opportunities out there. I'm just scouring through the top 100.
Beginner's Luck and Market Knowledge
00:41:39
Speaker
Coins I mean there's a lot. I know most of them. There's a lot of new names So I think I might be looking into a couple coins after this after this podcast myself
00:41:53
Speaker
Yes, me too. And to be honest, before I was looking a lot at a very, very small market cap, I mean, less than $1 million market cap just to try to make a lot of money in a really short time. But as you know, a lot of things can happen such as work pool,
00:42:16
Speaker
Scam etc etc, but just to say something about what you said even if you When you are looking at the crypto projects, and you make a checklist with the red flag green light, etc, etc Even if you have 100% of green light
00:42:35
Speaker
Like, something can happen. I mean, you are not protected by the things that maybe the owner will stop to develop the project, et cetera, et cetera. And something really, really important for those who are beginner and listening to us right now.
00:42:53
Speaker
you have to pay attention. I mean, a lot of beginner think they become stakeholder of the company when they bought the cryptocurrency. That is not true. I mean, it's not because a new project emerged in the crypto space and you buy, for example, $10,000 of their new cryptocurrency. It's not because you buy their cryptocurrency that you will be stakeholder of the company and the company is
00:43:22
Speaker
I mean, if you buy some cryptocurrency of a project, you have to know that you can lose everything. Because I saw a lot of people on different crypto project community screaming on the team, like, we bought some cryptocurrency of your project, so you have to
00:43:51
Speaker
you have to develop the project and you have to make a good work. I mean, if the team don't want to develop anymore the project, they have nothing for you. It's not because you buy that there will be something in
00:44:07
Speaker
they will be something back for you. Yeah so for me this is kind of it all links into kind of risk management so you've got to be aware that obviously your capital's always at risk when it's invested even more so with cryptocurrency.
Risk Management in Crypto Investments
00:44:22
Speaker
And you've got to be careful because I like the link you made with the stock market owning a company, for example. So when you buy a share, obviously, you've got a voting right within the company. But in crypto, what's interesting, to get listed on an exchange for stocks, you've got to go through a rigorous auditing process.
00:44:44
Speaker
a lot of things are looked at to see if the company is what it says it is that it's financially stable that so it can be listed on and in crypto you don't have that so in crypto anybody can create a crypto it can you've got exchange some exchanges which might be a bit obscure that might list certain coins which shouldn't be listed
00:45:15
Speaker
Now you have the whole DeFi movement with the decentralized exchanges. Loads of cryptos can be put on that. That's the way you're trading it. And I mean, yeah, so you've got to really just manage your risk. When you know it's obviously risk equals reward, the higher risk, the higher reward, but you don't want to all in on a shit coin.
00:45:40
Speaker
because, as its name says, it can go to shit tomorrow. It can go to shit in a minute or two minutes. You've gotta know that there's always people behind that have created the crypto, especially in these smaller projects. There's a lot of risk, not even if the project is sound, it looks amazing on paper. It is susceptible and vulnerable to just the market. So if, overall, if Bitcoin's down, most coins will be down.
00:46:09
Speaker
that's just a fact if you're in a bear market you can you can buy the best coin it probably won't appreciate that much in value or as much as in a bull market bull market everything tends to kind of go up but
00:46:25
Speaker
Also, you're exposed to getting hacked, getting the thing hacked. There's loads of external factors and risks, and it's important that you really stay tuned on. I think Twitter is the main source of information for all
Staying Informed with Social Media
00:46:40
Speaker
that. I like to read news articles, but Twitter is something I'm not active enough on, but I think you're quite active on it.
00:46:49
Speaker
And the other day when a crypto wallet was getting hacked, you shared the news straight to me and I really appreciated that it was really good information because I had some trades on and I was able to adjust my risk for that.
00:47:03
Speaker
Yes, as you said, Twitter, I mean, X is a really good information sources. But I mean, in the same times, it's really good and really bad because you can find a lot of information. And for a beginner, again, it can last you because you will see a lot of information and then you will not be able to know which one is correct, which one is incorrect or, you know, like what
00:47:32
Speaker
how I will think about all information I can find on X. So yeah, for me, it's kind of same. I'm looking about like the first 50 cryptocurrency on the market, ranking by market capitalization. But there are also a lot of other projects or company who are interesting.
00:48:00
Speaker
Yeah, so for me, the companies that really interest me today, obviously, I'm not going to talk about investing in any particular crypto projects. What I really like is kind of looking at all the hedge funds that have been opened in crypto, kind of getting a sense of what they're doing.
00:48:24
Speaker
speaking to the different people, that's something I really enjoy. Obviously technical analysis has been on a rise. So there's companies that are trying to bring making systematic trading strategies easier for the greater audience if you've not necessarily got the background for it with the kind of coding blocks.
00:48:47
Speaker
I think that those are things that I really enjoy and then obviously any funds. I know BPE France. Yeah, exactly. Sam, it's funny that you mentioned BPE France because we just recorded a webinar and the song was not that good. I'm thinking that I need to transcript this webinar, by the way, so I will work on that in the next weeks.
00:49:13
Speaker
I think it's time to conclude this third episode. I'm super happy to organize these sessions with you, Jens and Sam. Thank you guys for joining me and sharing your insights.
00:49:28
Speaker
Thank you everyone that is listening, sharing feedbacks. It's super precious. We have just reached the 100 first listen on the podcast and we are pretty happy about that and it's just the beginning. So let's reach 1000 and even more in the future. I know the podcast is niche. I think everyone knows that.
00:49:47
Speaker
but we will try to reach the biggest audience as possible and to create the best content about Web3, Metaverse, and Artificial Intelligence. So don't forget, if you have not done it yet, to let the review, it will help us so much to get ranked on Spotify, on Apple Podcast,
00:50:11
Speaker
on Google Podcast, on Deezer, everywhere where you are listening this podcast right now. Thank you so much for your time. Take care and see you soon. Bye bye.