362 | Cryptocurrency Investment Strategies Part 2

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Business, Investing, Careers

4.8 • 5.2K Ratings

🗓️ 31 January 2022

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most blockchain profits don't come from trading coins—they come from building the infrastructure. Brad and Jonathan explore the "picks and shovels" approach to cryptocurrency, explaining how to earn income through smart contracts, airdrops, and DeFi platforms without speculating on price movements. Key Topics and Timestamps [00:00:00] Introduction to Blockchain Strategies: Jonathan revisits the pick and shovel approach to cryptocurrency investments, setting the stage for strategies beyond speculation. [00:01:33] Pick and Shovel Approach Explained: Selling tools and services to miners instead of speculative trading. [00:03:29] Income-Generating Assets and Smart Contracts: Collaborative investing lets participants earn income from assets, utilizing smart contracts for profit distribution. [00:04:36] Airdrops and Community Engagement: Airdrops have replaced ICOs as a method for token distribution; they increase community involvement and adoption. [00:21:00] Decentralized Finance Overview: DeFi platforms offer various methods to earn, including staking, liquidity provision, and yield farming. [00:36:30] Risks and Conclusions: The hosts discuss risks associated with cryptocurrency investments, including market volatility and scams. Action Items Explore community-driven projects to maximize ROI in blockchain. [00:05:59] Consider staking and lending as lower-risk methods in DeFi. [00:21:00] Take profits when you realize substantial gains on speculative investments. [00:17:20] Key Quotes "Investing collaboratively allows you to earn income from asset proceeds." [00:03:29] "Community-driven models are key in the evolving blockchain landscape." [00:05:59] "Successful investing relies on fundamentals, not speculation." [00:29:22] "Explore various strategies beyond the traditional investment approach." [00:28:11] "Be cautious; the cryptocurrency space is still highly unregulated and prone to scams." [00:36:31] Related Resources Baobab Money Tree - a financial literacy project for children [00:49:55] ▶ Listen Next: Ep. 365 — Work-Life Balance and Financial Independence | Essential Listening

Transcript

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0:00.0	Hello, everyone. Welcome back to part two of our conversation on
0:03.1	blockchain smart contracts and NFTs. Today, we're really going to take
0:07.0	that pick and shovel approach and talk through the different
0:10.0	strategies that are available for individuals that would like to
0:12.8	profit or create possible income streams in blockchain and
0:16.9	cryptocurrency, but don't have any real confidence in any
0:19.8	particular cryptocurrency or have any particular interest in
0:24.8	10Xing their NFT collection. Welcome to the ultimate
0:27.9	crowdsource personal finance show this is Tuesday 5.
0:30.6	You're listening to Choose Applied Radio.
0:33.4	The blueprint for financial independence lives here.
0:38.5	If you're looking to unlock the secrets to financial independence and
0:50.0	early retirement, you're in the right place. Stay tuned and
0:53.9	join a community of like-minded people who are getting
0:56.6	off the Amsterdam and taking control of their lives in the
1:00.3	pursuit of financial independence. Choose FI your home for
1:04.4	financial independence online.
1:18.2	Hey, everyone. Welcome back. Today we're going to be picking
1:20.2	up our conversation on blockchain smart contracts and NFTs.
1:23.2	This is part two. The first part of this series was episode 361.
1:27.4	You can find that at chooseafi.com slash 361.
1:30.4	And we're just going to go right back to that conversation.
	...

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