Intro to crypto: Recent Episodes
Blockhead Traders
In this week's episode, sprocket888 and viperxl007 lift crypto and look at the ugly underbelly. There are many episodes about the space's benefits and high points. This episode takes a look at some of the dangers and ugly underpinnings. The caution can be summed up in the phrase 'if something seems too good to be true, it probably is.' There are a lot of innovative and cool products in the crypto space, but there are even more 'scams,' 'poorly built products,' and 'unsustainable promises' floating out there. If you slow down and spend the time to understand HOW and WHY something works, you are very likely to be capable on your own of sorting the wheat from the chaff.
- 00:00 Disclaimer
- 00:21 Intro
- 01:06 Looking at the dirt under the crypto rock
- 04:58 Moments of despair do not always negate the underlying technology
- 06:00 Insider trading, the age-old financial crime
- 08:08 A lot of crypto today operates like traditional finance without ANY regulation or protections
- 14:28 Celsius began to freeze up with impending insolvency
- 16:21 The Celsius insolvency kicked off with the depeg of Luna
- 21:33 Three Arrows Capital was heavily entrenched in Luna
- 22:17 Ripple effects slammed Voyager
- 23:11 Voyager was similar to Robinhood for crypto
- 24:15 12% annual return with no lockups (Too good to be sustained)
- 25:35 WHERE do the returns come from?
- 26:39 viper used Voyager for a short spell; why did he leave?
- 29:48 Ownership: Don't forfeit this too quickly; it is the magic to building wealth
- 31:35 some platforms allow you to retain ownership
- 33:02 Aave has the same goal as Voyager and Celsius, but total transparency and contract protections
- 35:47 How does Aave protect the lender, and what if the borrower defaults?
- 40:17 Understanding the HOW will go a long way to help you make smarter choices
- 42:20 Crypto is ripe for regulation right now
- 44:15 Closing: Regulation and oversight are needed. Otherwise, we are destined to repeat history
- 47:55 Outro
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In this week's episode, sprocket and viper pose the question, Why Crypto? They openly discuss various pros and cons of the world of crypto. These are just their thoughts and opinions shared to help you ask similar questions to yourself. The goal of this episode is to share insight and understanding with the audience from viper and sprocket. The questions and discussion here are the very things that viper and sprocket thought about before deciding that crypto was something to add to their trading portfolio.
- 00:00 Disclaimer
- 00:24 Intro
- 01:13 Why Crypto?
- 01:50 viper's thoughts on why crypto?
- 03:28 Crypto is just another opportunity
- 04:04 Why did sprocket jump back in the crypto pool?
- 06:07 Should you consider crypto?
- 12:15 Are there reasons to AVOID crypto?
- 13:34 One of the coolest parts of cypto according to sprocket
- 13:59 Reasons to stay away according to viper
- 15:59 Crypto is an EXCELLENT teaching tool
- 17:20 There are ACUTAL projects out there focused on teaching
- 19:26 There are levels to crypto
- 20:02 sprocket owns an NFT? WHAT?!?
- 21:08 Ability to directly engage with founders and leaders is unprecedented
- 21:56 Due diligence and vetting projects is PARAMOUNT
- 23:18 All the same strategies from equities applies to crypto
- 25:52 Another reason to approach with caution, you can easily lose your way
- 29:32 One mans trash is another mans treasure
- 30:46 The collector mindset is very much present in crypto
- 33:12 Conclusion
- 36:27 Outro
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
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In this week's episode, sprocket takes the crypto plunge. sprocket is interested in chikn.farm but is not ready to pay the amount needed to buy some chikns. So the plan is to invest in some assets that will build over time to allow for the eventual purchase of chikn, but until then, we will collect some limited supply of $FEED. This $FEED is used on the chikn.farm but will be a fixed supply asset. In this episode, sprocket buys some $EGG and participates in an $AVAX/$EGG liquidity pool. The LP token from this pool is then farmed to gain $RADI. The $RADI can then be sold and used to buy $FEED. This is a pretty complex path of transactions, but we document each step on the journey.
- 00:00 Disclaimer
- 00:21 Intro
- 01:17 Time to ramp up the crypto machine
- 03:59 Chikn.farm overview
- 10:29 Tweak to the investment plan
- 09:14 viper explains the tweak
- 15:30 Step one: Buy the $AVAX
- 17:46 Next step: Send the $AVAX to the wallet
- 21:12 WE BROKE THE CARDINAL RULE
- 24:23 Next step: Get some $EGG
- 28:09 Next step: Deposit $EGG and $AVAX into the pool
- 32:35 Next step: We get the LP token from the pool deposit
- 34:17 Next step: Time to farm the LP token for some $RADI
- 36:18 Closing Comments
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
Follow sprocket888's trades: https://www.thetagang.com/sprocket888
In this week's episode, viper and sprocket break crypto down into the three fundamental building blocks: currency (Coins and Tokens), ledgers (Blockchains), and objects (NFTs). When we talk about these items, we draw an analogy to things familiar to everyone, money, trains, buses, resorts, and wallets. This probably could have been a good pt one in this series, but this is more a recap of the most important aspects of what was already covered in pt 1 - pt 3.
- 00:00 Disclaimer
- 00:21 Intro
- 01:21 How can we make crypto simple?
- 04:21 Crypto world is not so different after all
- 09:12 Basics of navigating the crypto world
- 16:59 Let's talk about transportation fees (gas fees)
- 23:24 Pulling all the basics together
- 26:28 Closing Comments
- 30:11 ....One more thing....
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
Follow sprocket888's trades: https://www.thetagang.com/sprocket888
In this week's episode, we continue our multi-part series to look at the world of crypto and attempt to demystify and explain it. In Part 3 of the series, we will look at what a CEX and a DEX are, how to move assets around practically, and what to expect. We will also dip into two passive income options of liquidity pooling and DAOs lastly as we move through this series, and the more exposure and information we have, sprocket and viper touch on their shifting approach in crypto, moving from a trading mindset to an investment mindset.
- 00:00 Disclaimer
- 00:21 Intro
- 04:27 Part 3: CEX, DEX, and crypto asset movement
- 04:41 The Centralized Exchange (CEX)
- 08:10 The DE-Centralized Exchange (DEX)
- 14:19 Moving assets around in the crypto world
- 28:56 Liquidity Pooling
- 29:43 DE-Centralized autonomous organization (DAO)
- 35:28 Where are the Options, Futures, and Margin Accounts?
- 37:08 Wrap-up of Part 3
- 37:29 The perspective shift of sprocket and viper on how to view crypto
- 46:59 Closing Comments
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
Follow sprocket888's trades: https://www.thetagang.com/sprocket888
In this week's episode, we continue our multi-part series to look at the world of crypto and attempt to demystify and explain it in this Part 2 of the series. This episode is on NFTs, DAPPs, DAOs, and Defi. However, we start with some viewer-requested content on the energy consumption that crypto is famous for. From there, we touch on non-fungible tokens (NFTs), distributed apps (DAPPs), decentralized autonomous organizations (DAOs), and lastly, decentralized finance (Defi). We dive a bit deeper into NFTs as viper recently purchased some. sprocket is also very interested in Defi as he sees a lot of potential in that aspect.
- 00:00 Disclaimer
- 00:20 Intro
- 03:43 What is Crypto: Part 2
- 04:34 Fear and greed index of crypto
- 07:14 The crypto sustainability problem
- 11:48 If crypto takes so much energy should we just give up?
- 15:45 There are low power crypto options
- 21:35 There are greener implementations of crypto
- 24:17 You must BE THE CHANGE you want to see!
- 29:15 DAPPS
- 36:55 DAOs, NFTs, and DeFi
- 42:40 A little deeper into the DeFi
- 47:41 viperxl007 took the plunge and owns some NFTs
- 57:33 sprocket888 really likes the potential he sees on DeFi
- 01:03:57 Closing Comments
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
Follow sprocket888's trades: https://www.thetagang.com/sprocket888
In this week's episode, we embark on a multi-part series to look at the world of crypto and attempt to demystify and explain it. In this Part 1 of the series, we start with the basics: the blockchain, the coins, and the tokens. sprocket888 and viperxl007 start introducing the series and then level setting with their personal history in the crypto world. Then we will take a look at the basics and attempt to explain many of the fundamental terms and concepts.
- 00:00 Disclaimer
- 00:20 Intro
- 01:45 What is crypto opening comments
- 03:21 Multi-part crypto series overview
- 05:07 What is sprocket888's first dealings with crypto?
- 11:35 What is viperxl007s first impressions of crypto?
- 13:41 What is a block-chain?
- 18:13 What is a SHA-256 hash?
- 20:28 How do miners and mining fit into the picture?
- 23:40 How is coin minting controlled?
- 25:15 Is there a transaction throughput concern?
- 26:04 What is a "Network Gas Fee" in crypto?
- 28:21 What exactly is a coin?
- 31:45 What exactly is a token?
- 34:40 Real world example of coins and tokens
- 42:25 Why should I care about all this?
- 45:42 Final thoughts on Part 1 of the multi-part series
- 51:35 Closing Comments
Join Blockhead Traders in our Discord: https://discord.gg/89Zywff
Follow sprocket888's trades: https://www.thetagang.com/sprocket888