I Feel the real good. I'm excited to kick it with y'all today. I've been so busy lately. It's been so crazy My schedule has been crazy.
I had some stressful days I'm just keep it all the way a hundred which all I gotta have some stressful days in the last couple weeks So today though, it's like I feel a lot better. Um, you know, it's been a lot going on in my corporate job Just as relates to right now I'm hiring for a position so we've been interviewing had a bunch of interviews got a bunch more interviews to go and Just amongst some other things that I can't really get into that's corporate world So you know I'm saying that's confidentiality and I ain't any of your business anyway a lot going on there Keep me in your prayers, you know, I'm saying just looking to continue to move forward and business continue to learn continue to be better I feel good my team. We had a good year this year. I'm definitely hit our plan You know, I feel good about the success that we had we signed a lot of nice new business partnership Some that haven't even been announced yet.
So I'm excited about the big business partnerships that we've been signing and just to you know To continue to do what I do in corporate American growth. So thank God for that But it keeps me busy. It keeps me real busy There are like days that I'm like I mean, I literally I'm working all day, you know, and it's like especially working from home You know, let's just be honest these organizations and corporations They're getting the most out of people because you at work when you wake up and then it just makes it easier to be Invasive into people's lives. So that is what it is though.
That's part of life. Thank God. I'm gonna have a job Today a couple things I want to say before we get in today's topic I'm gonna be talking about cryptocurrency for regular people today And I'm specifically using the term regular people because I don't want to call y'all dummies But you know when you think about you know such and such for dummies how they got the books or whatever This is that for regular people y'all regular people y'all not dummies Which just means that I want to talk about cryptocurrency in a way that is not super complicated It's not all techie So if you're a tech person or a developer or you're an expert in cryptocurrency You're probably gonna you know, not like this approach because this approach is to simplify things that are very complicated, right? So it also means that I'm not gonna get into every single detail As it relates to crypto because it is it could be a lot.
I've been Really deeply studying it for about six months. I guess you could say now a little over six months and I study a lot So I have a pretty good understanding of crypto. I would say this even though I study a lot I'm in the fifth grade That's that's my personal the way I grade myself I'm in the fifth grade ready to graduate elementary and I say that because crypto is one of those things that the more you learn The more you realize you don't know because it is still happening. It's still developing in real time and it's evolving So it's tough outside of the you know some of the smartest people in the world who get into those spaces and I'm you know I'm no tech person You know, I'm just a regular guy.
So I'm regular like you regular we gonna talk about it in a regular way So we gonna talk about crypto before I get to that a couple things Thank you to everybody who is a part of the text family inspire guys people text family that has been a growing community And I appreciate everyone but I do want to let y'all know I am thinking that I'm gonna pivot away from the text family and I'm gonna tell you exactly why so it's like, you know, you understand I'm the type of person when I try something everything doesn't always work, but it doesn't mean it's a failure What do I mean with the text family like y'all have been signing up, which is super dope? Like I'm very happy with the amount of people that are signed up. So that's not an issue But as y'all know, I'm not consistent enough with producing videos In content so I do want to get better at that But I was kind of looking at the pricing for like some video content and the monthly price is basically the same exact amount as the text Family so I'm kind of looking at it like this all right Well, if y'all signed up for the text and I'm really trying to get better at producing videos to share with the text family Can't y'all just subscribe to my YouTube channel like can y'all just do that for me and I know y'all know I'm just being real. I've never been good at YouTube I've been good at a lot of things with marketing YouTube is not one of my strong points I think a lot of it is just because I'm not really a person that prefers to be in front of a camera making videos all the time So I'm trying to balance that like being a private more reserved person But also wanting to create content and that's just something I got to get over and deal with it But with that said, I also don't want to invest in both like I want to invest in enhancing some of my video Creation software so that I can share videos easier, which will probably I can talk probably mean I would share them more consistently So if you're feeling that just subscribe to inspire guys people YouTube channel the same way y'all been subscribing to The text family and I know the one difference is that the text thing was that it was exclusive and it was just for you But just look at it like this.
I don't have a lot of YouTube subscribers. Anyway, so, you know, it's still exclusive It's just me and you it's just me you and my mama. That's it. Um, so yeah, subscribe to inspire guys people YouTube channel I do have two YouTube channels the other one is J will music if you want to listen to my music But that's not the one I'm interested in growing right now I really want to focus on inspire guys people so if you can just search inspire guys people on YouTube subscribe to the channel You know, please help me out there So you can stay in touch and I'm probably gonna discontinue the text family But I will send out a text to let y'all know again all because not because like y'all did y'all part y'all subscribed I think it's a dope situation, but you know, I like to manage finances a certain way like the texting or the videos don't necessarily produce revenue So it's like I don't want to spend too much money on non-revenue producing items So and those are like monthly investments, you know, I'm saying there's a monthly fee to have the text family There's a monthly fee to be on the video platform So I'm just want to better allocate the phone.
So hopefully that makes sense But thank you for everybody who rock with me there and I think are we ready to jump? I guess I'm gonna just jump right into the crypto conversation because this is a quick take so no reason to waste a lot of time All right, let's do it Where do I want to start? First things first for those of you who listen to episode 143, which was welcome to the metaverse Which is why I'm doing this episode because there was much more feedback to that episode than I expected A lot of people want to know about these spaces and I guess um, you know as believers you probably find value in hearing about it from another Christian So I'm gonna say something I said in that episode that was 143 welcome to the metaverse So if you haven't listened to that one, please check that out after you listen to this, but I will say this Education is more powerful than fear. That's what I live by so I'm just sharing that with you a lot of times when things are new You know, we get scared of them and I don't like fear I'm gonna tell you why number one the Bible says God didn't give us the spirit of fear So I don't like fear because it didn't come from God and I also don't like fear because it causes people to act irrationally You know or at extreme levels whenever you afraid you're extreme You know what I'm saying like if you scared of a pit bull and a pit bull is in the room you're It's like you extreme you're out of control don't mean you shouldn't be scared It ain't gonna be scared of it.
Just mean when you're fearful you act out of control, okay So I believe education is more powerful than fear I'm saying that in relation to this topic because as you start talking about like the digital revolution of the world and things like that There are a lot of things like shoe. I've been hearing about my whole life You know like a lot of things like end times type things in your mind can go there I'm not here to say that that's the case and I'm not an end times expert Um, I just read the Bible and I pray and I trust God now So I'm not here to debate that or like get into that like I'm not buying or selling Um, I'm also this ain't financial advice So I'm not here to tell you like yo go invest in crypto or go like, you know I'm not like telling you to get on the end or something like that. This is informational That's what this is information and maybe some opinion Uh laced into it, but it's just for you to get an introduction of what cryptocurrency is I know you've probably heard about it to some regard and it probably sounds too complicated for Regular people, you know, not dummies regular people it's too complicated So what I'm here to do today is to give you just a quick overview and introduction Now understand I'm gonna have to do multiple podcasts and quick takes about crypto I've already had a request to talk about nft's so I'll probably do an entire quick take around nft's And if you're interested in this content share it listen to it And if not, I understand these are a little off beat from the normal episodes that we do So if this ain't your thing, I'm not mad at you But I will say this before you go and just cut me off like that It's not what you want to know, but it's what you need to know All right, here's the other thing I want to say Um, and again, it's speaking on the fear thing somewhat too, especially as christians when we don't like something And like we see where it's going. We like, no, don't like it into the world.
I'm done with it Listen again, I'm not here to argue that or debate it or say you write or wrong But I do like to think about things in a more um How can you say I don't want to say sober? But I don't like to be in an elevated emotional state when I'm thinking about things So I like to step back and really take a deep breath and say okay This is the world I live in I didn't choose to be alive during this time and all of that But this is where guy has me So let me take a step back and really try to look at these things as much as I can through a biblical lens Um and through a very um, just like thoughtful and wise place god willing, all right So for me part of the thought is like, all right I know that people are afraid of things based on where they can end up And based on like the obvious of where you might know is going, right? But as I debated or not debated, I made a statement or you can say I argued I guess I made my position known that I think sometimes We get so fearful of the unknown, but we're not paying attention to what we're doing today It's like sometimes we scared of stuff and it's like, well, you're already doing it Like you already do that. You know what I'm saying?
Are you really scared of it or not? All right, anyway, we'll talk about some of that First I want to talk about the word of god like so this idea About crypto or any creation for that standpoint Like a lot of times I think we act like the creation is the sin Or that like the creation is what's evil. I'm not saying it's not but what I am saying is that that's just like a I give you this example like um a false god is not real So, you know, you might have someone that prays to a candle like and we treat the candle like Whoo, but it's like a false god. It really has no power So, you know really the thing you're afraid of is nothing like it's a candle bro And i'm not trying to be funny, but they're like you can find references to those type of things in the bible as it talks about false guys And like it's like they're not real if they're false.
They have no power We treat them like they have power. All right, that's a whole nother topic I don't want to get into that but the other thing I do want to get into is this idea of like if something if something can be bad Should it not be created? Um, let's think about that from a biblical standpoint first god created us Are there evil people in the world? Yes, there are there are definitely evil people in the world There are definitely you know, we have sin and us sin is in our hearts.
Um, there are evil people all throughout scripture There are kings that god literally like it's they're identified in the bible as evil. Um, so god created them Should god not have created them because they had the capability to be evil? No, or we wouldn't be here However, I mean hey there's consequences to everything like you think about the flood like god was grieve because no it was the only righteous man God was grieved at his own creation. So this idea of like Looking at the fact that something can be bad And then like jumping to the conclusion that well because it can be bad then it shouldn't exist I don't know in this case if that is something that we should a conclusion we should jump to now again Keep in mind with this stuff.
I'm not buying or selling I'm not trying to convince you of anything I'm trying to provide information and maybe a little bit of a way that you can start to think about cryptocurrency as a christian But at the same time look do your own research and your own due diligence read the word for yourself pray seek the lord for direction Because i'm not acting like I have all the direction in the world again Like I started off these things are complex and sometimes there are complex things that exist in the world And i'm not the kind of person that tries to act like everything is just black and white when it's not always black and white Sometimes I have to struggle through through I can talk I have to struggle through how I think about something and sometimes it takes time for me to work through my thoughts and like what I really believe About something but this is the way that I try to think about those things now because cryptocurrency is something that's happening in real time I think it is important to have these discussions now and now wait for me to go five years or three years and really figure out like Okay, this is how I feel about it. So that's why i'm having this conversation with you now Again, I'm buying or selling not telling you what to do but trying to share some information Here's the last part of the bible that I want to discuss before we jump into crypto Um, so I talked to you about like God creating us, right? But it was something else that came to mind. I was looking in the world genesis chapter nine.
Let's go genesis nine I'm reading from the new living translation. That's the nlt on your bible app Um, genesis nine and twelve. It says this then god said I'm giving you a sign of my covenant with you and with all living creatures for all generations to come like that's but All generations to come mean like even right now. This was god's covenant that he gave back in genesis verse 13 I have placed my rainbow in the clouds.
It is the sign of my covenant with you and with all the earth 14 when I send clouds over the earth the rainbow will appear in the clouds And I will remember my covenant with you and with all living creatures never again with the flood waters destroy all life 16 When I see the rainbow in the clouds, I will remember the eternal covenant between god and every living creature on earth 17 Then god said to Noah. Yes, this rainbow is the sign of the covenant. I'm confirming with all the creatures on earth All right. So the rainbow was god's creation to be a covenant You know with all people on earth and god said the rainbow was a reminder to him So that's like dope to me like god created the rainbow and he wanted to even like remind himself like every time you see this Remember your covenant with all living creatures for all generations.
What is your point here, jamae? What are you talking about? My point here is this people. It's pretty simple God created the rainbow for a certain purpose and we know that that's not with the rainbow Well, it still represents that to the true believer today But we know that people have taken the rainbow and created an entire movement and made it mean something that is actually not even in alignment with god's work So men because we have these capabilities to take things and use them for our own pleasure Men and women took god's covenant and branded it and made it mean something else to the point that if a person walks around with a rainbow shirt on right now And nobody mind goes to this is god's covenant.
Everybody mind goes to pride, right? So what is my point with saying it my point is simply should god have not created the rainbow because he knew that men would take it to mean something else No, he still created the rainbow. He still has a covenant So ladies and gentlemen, let's talk about cryptocurrency for regular people And i'm going to give you an overview today not here to talk about, you know We may discuss some of what it could lead to and things like that But the goal is really to talk about what it is and what it was created for All right, so where do I want to start? Like I said, this is a tough topic to cover because it's just a lot of information And so here's here's a couple things I like to start off and talk about uh, number one Um, look at today's financial system when we look at today's financial system and money like so Let's take the us dollar for instance for those of us in the us and I know a lot of grace a guy We got listeners all around the world shut out to the listeners in canada and sweden and australia austria Um much left y'all in other countries.
I can't think of off the top of my head I apologize, but those are the countries that listen every single week. So thank you When we think about today's money fiat money fiat currency is which your government has distributed so The us dollar is fiat currency and that currency Basically only has value because they said it does All right, so that's the first thing you got to think about in today's system It's not no longer black back by goal us currency used to be back by goal. Don't quote me on this I think up into the 70s. It was back by goal, but right now is literally just paper with nothing back Like it's not there's nothing like nothing.
It's just paper and it's like hey That's where 20 dollars because the us government said is worth 20 dollars That's how things were today. Well, um, the second part about today's financial system is we have central banks, right? So central banks um think you know, comerica or um chase bank These are centralized banks where there's a ceo someone owns it One of the things about the banking system not just the bank but the system is centralized uh today And what does that mean? Um, that means that when you go to your bank and you provide liquidity by you know putting money in your bank So let's say you put five thousand dollars in your bank, right?
You've provided that bank with liquidity of five thousand dollars that bank on the other side takes your five thousand dollars and does things with it So they can lend it out, right? Um, so let's just take lending They're gonna turn around and lend that out for let's say they're doing a car loan for eight percent, right? So they're lending out that same five thousand dollars, but they're charging someone eight percent in order to leverage the Entity that you have provided the bank. All right, cool Here's the problem that five thousand dollars worth of liquidity that you are sitting in that bank for a year Is going to get something like point zero zero zero one like you literally might get a nickel after a whole year You made a nickel they made eight percent.
You get what i'm saying, which you know, what is that? I said five thousand dollars. So what um 10 percent would be five hundred minus one They made four hundred dollars so they made four hundred dollars off of your money and gave you a nickel That is the centralized banking system What it ultimately means is that there is a central authority or a business that is really kind of running everything and you as the Consumer even though it's your money, you have no power or control over it, okay? The last part of it and this is an important part is the ledger when you think about a bank ledger That's just think about your bank statement, right?
So you go to the bank and you know, all of your track transactions are on the ledger So let's say if I go to the store I go to um Nike. I love buying Nike. I got on a Dita's jacket right now I like a Dita's tool. I like Nike and a Dita.
So let's say I go to Nike. I probably buy more Nike I go to Nike and I swipe my crock car. I can talk swipe my car and I buy something There's a fee right visa and ask the car they charge me a fee Um, but what they do is they communicate with the bank and the bank tells them how much money I have If I bought some four hundred dollars then the bank is the one that confirms he actually has a hundred dollars Now low story short again, this is crypto for regular people So I got to move past this part But what I'm trying to say is that that ledger is really just the proof that you have the money But the problem is the bank is the only one that can see it So if the bank is hacked someone can hack the bank all they got to do is change one ledger and everything changes So it's not as secure. All right, that's today's banking system What do we talk about?
We talked about fiat currency that only has value because the government said it did Secondly, we talked about this centralized banking system where the people themselves don't necessarily benefit from it And then we talked about the ledger, which is really one source of security through the bank Which is why you see hacks all the time. All right, cool. That's today Now let's think about finance of tomorrow. What will change today versus tomorrow?
The first thing is the government's role So what I can tell you is like, you know The government didn't create cryptocurrency So it doesn't have value because they said it has value It actually has value because people said it has value and we'll talk about how it's created in a second But the government so the government's role today in cryptocurrency is a lot different than traditional fiat currency Now because the government is the government, please believe me. I just watched the um, is it the SEC Why am I'm not the acronym isn't coming to mind or whatever, but um, I watched uh, whatever I can talk I can talk I can talk think it was their congress congress Um meeting or whatever I watched the meeting with the head of the SEC Um, what is it Gary Gensler? Is that his name? If I'm remembering right, but I watched him talk about how the government may or may not regulate it You'll see you'll hear stories all the time China banned India banned or whatever like they'll go back and forth about banning it or whatever Their regulations are because please believe this governments are not getting their piece of the pie yet And they will get their piece of the pie they're gonna get their piece of the pie So you can think of it this way in the system of tomorrow regardless the government is gonna find a way They're I mean you gotta pay taxes already if you went to it pay taxes But they're gonna get their taxes, but they're gonna regulate because again like again Evil me in in the world like they're that's just how people are they gonna get they cut right So that's the first thing um, I will say that the thing about governmental regulation and crypto that is It's an unknown to some extent different governments are taking different approaches and we're living this in real time That's why I said this is crypto for regular people not your deepest expert to know they follow every SEC SEC hearing and and they know everything like okay, I'm not I'm not talking about you Um, this is for the everyday people that just need to know there's a lot of unknown around government regulation and crypto So more to come there Secondly as we talk about, you know, the centralized piece a huge part of crypto is that it's decentralized, right?
So there are centralized factors and again, I don't want to complicate stuff so we're not gonna go down every rabbit hole But ultimately this idea of decentralization is a big part of cryptocurrency Let me tell you a part of how that's valuable When you what cryptocurrency allows in the financial system it allows the everyday person because again decentralized means no one person owns it Right that again when someone owns something there's an increased chance for corruption because it's owned by one person One person has power people are evil so when one person owns something it has a better chance to go in a bad direction Also, you can manipulate it easier because all you got to do is bribe that person or you know, do something to that person And that can you know or the hey the ceo of this bank is cool with this popular politician So they could they could change all these little things so there's a lot of corruption that happens in today's centralized system that You know, there are security measures when you break that up and allow other people to have a say in the system With that say also means that other people can benefit more financially off the system What do I mean? Remember we talked about something as simple as like the bank and the lending and the borrowing and the percentages that you can get Well, there are your lending and borrowing platforms and crypto and they pay a lot more and lending is a lot less so if you want to borrow money and use your crypto for collateral Then the interest rate is a lot less than borrowing from a bank But if you provide liquidity and you know, put your money up to be leveraged Within the overall platform or system then you actually gain more interest for your money So what does that mean? It means that less money going to necessarily the one person or the central centralize authority and more money spread out To people every day now that doesn't mean people ain't listen the people in charge always gonna make money Entrepreneurs business people the thought leaders there all the money's always going to flow to them But my point ultimately is that when you decentralized the financial system There's a lot more money and finances to go around a regular people I get this last example there right now if visa processes a transaction You don't make any money somebody's making money because there's a credit card fee when you use your car with a two three percent whatever it is People tell you all the time. Hey, you know, you can do cash or check, but if you use the card we got to charge you this Why because someone's charging them?
Well, what happens when you decentralized those things is I could literally right now as a regular human being like set up computers and like Mine Bitcoin and or like I can literally like make money as a part of the transactions So again, not to get into like yield farming and staking all these terms But ultimately look at it like this when if you could set up a computer 10 computers in your basement and visa paid you every time someone else Use the transaction on the visa system, right? So imagine that if the people could make money in all the ways that the banks typically make money now again All of these things aren't necessarily easy everything takes some level of effort learning or research But the opportunity is there within a decentralized financial system All right, so we covered that in the last part there when I compare yesterday versus today or today versus tomorrow Sorry, um is the ledger so when you think about a bank ledger This is what a blockchain is so let me say it to you this way to explain the blockchain and the technology and why Cryptocurrency really is what it is and why it's becoming what it's becoming Well Bitcoin was created is it like quasi anonymously or pseudo anonymous? I don't know the right word by Satoshi Nakamoto Um, Satoshi created Bitcoin. No one knows who that is there are people to claim to be satar Satoshi remember I said I'm not an expert so I don't know I don't get into that debate or that argument I just noted it's not for sure.
Nobody knows for sure for sure. There's actually a guy on trial right now is em I am on trial. I think there's a um a big trial going on right now with a guy who claims to be Satoshi He claims to have been Satoshi and had a partner that they created bitcoin that partner passed away and his family is suing my man for the Number of bitcoin like that's half of what Satoshi claims to or what this guy claiming to be Satoshi has so anyway bitcoin was created It was mine and then um as you know how will you create something and because you create something it actually creates something else I'm trying to think of a good example and nothing is necessarily coming to mind for me But it's almost like you know bitcoin was created and they realize and discover oh This is a new technology by way of bitcoin and that was blockchain and what do I mean? Again, this is a regular people so I can't get into the depths and I'm gonna be real this part It's like the more I try to explain it then the more I confuse myself.
So I'm not gonna go deep into that part You ever have something like that. It's so complex. You understand it. They don't mind but you like I don't know how to explain it So I'm not gonna go too deep in that ended up how it was created from that standpoint But what I will tell you is that this blockchain technology um is a public ledger It's public and it's immutable meaning it can't be changed It's an ekryptic uh language and um There it's where multiple blocks kind of confirm the transaction So I know that's I know that's confusing trust me But this is a very important aspect of it.
Maybe if this your first time here and you won't get it right now But ultimately that ledger that bank statement Imagine if we had multiple blocks confirming a bank statement instead of just chase bank or calmerica bank Now if you let's say if you had a hundred thousand dollars in an account and someone wanted to hack it Now because it was all of these multiple blocks blockchain a chain of blocks confirming a transaction and serving as a ledger In order to change one block in order to change one you have to change them all So let's say a thousand blocks confirm this one transaction now It's it's an increased security because it's like whoa, I can't so I can't just go change that one thing without changing everything All right, we're gonna leave that there because I'm just telling you the more I talk about it I'll confuse myself. All right So those were the first two sections today versus tomorrow just talking about the financial systems and give you at least a brief overview of how this thing came to pass in the first place Ultimately bitcoin is created and begins to have value really simply because people said it had value It'll be no different than if me and you decided that hey instead of money We're gonna start using apple computers with each other So if you want something from me bring me an apple computer and I'll tell you how much that's worth to me We'll agree on how much is worth and we'll trade and I'll say hey you can have you know This $500 jacket for that apple computer and you'll agree that that apple computer is worth $500 and change right? So that's the power of like again remember our current fiat currency only has value because the government said it has value But people can say something have value too if we both agree that it has value and we exchange it for something and it has value It has the value that you say it has ultimately Now here's probably you know this this is what I would say What really help you when you think about this cryptocurrency for regular people because it's called cryptocurrency But here's the thing about it crypto is more than currency and this is where it gets kind of crazy Most people know about it as currency you've either heard of bitcoin maybe ethereum You probably have definitely heard of dogecoin and shiba which are me and coins and we'll talk about those But ultimately crypto is more than currency. All right.
Why how what? So bitcoin came and then ethereum came and what happened with ethereum was that ethereum is a what is called a layer one system So it's not just a currency. It's a system. Now.
Here's the way I want you to think about it Think about the internet right the internet, you know, a website is built with all this coding with all these security measures So let's say and again, I'm no tech guru. So I might misphrase a word. Hopefully it just makes sense or a term But I think everyone has seen when they log into a website you've at least heard of two things You probably heard of one of these at least htps like when you see that when you go into website htts I think that's based with security and then you've seen like javascript Which I believe that's a coding language if I'm not mistaken I'm not googling nothing right now to confirm so you got to google it if you want to know but no one when I've never like With the internet when the internet came out you couldn't invest or own part of the system like you couldn't own javascript But think about that it's probably I don't know how many websites are built on javascript But if you would came across javascript in the late 90s or early night whenever it was created I don't know the year and someone was like hey you want to own a piece of this like hey in the future There's gonna be like hundreds or millions of websites thousands whatever it is They're gonna be built on this coding on this system within this language. All right, so that is see again This whole conversation is about contributors versus consumers consumers will use javascript They will use htts They will see it for 20 years and never at once ask themselves What is this what like what the heck is javascript?
What is html like we will see these things in a consumer just doesn't care So again if you're a consumer this probably isn't the conversation for you and I'm not judging you if you're a consumer I'm just making it playing that this is for contributors because in order to be a contributor Um, hey because again education is more more powerful than fear So even if I don't like it even if I hate cryptocurrency I'm gonna find more value and actually understanding it so I can understand exactly what I don't like and I'm not just going off my emotions I'm feeling and I'm like no I don't like that because abnc or i'm concerned about that because abnc But here's the question I have for you if you don't know what it is how you worried about it Just oh man, I'm sorry just the things that happen in life. Let's keep it going I remember my point I was talking about systems ethereum came along and there was eight or nine developers of ethereum Which was a layer one system, um that built smart contracts within the blockchain and I'm not going to go deep in a smart contract We might have to talk about that another time, but I will tell you this generally if you think about a smart contract So you think about If if you if you own a property and I'm your tenant then we may have a contract Um, but that contract even if it's written on paper, let's say I owe you five hundred dollars a rent on the fifth of every month Okay, that's pretty cheap rent. I think these days But if I'm paying five hundred dollars a rent on the fifth of the month I might call you on the fourth and say man my kids or I can give you these excuses and you can say you know what? All right, cool.
No problem. I give you three more days I might even get away with not paying you or going away whatever What a smart contract does is allows you to implement all of these rules into something that's supposed to take place So the smart contract would say hey one the fifth of the month if germana still living there then he $500 will go from his account into this account because that's how the smart contract is programmed and Bam when the fifth of the month comes in a contract. It don't matter if my kids or I got a sob story It was a contract. It was an agreement that was in place.
That's immutable irreversible bam We signed a smart contract. It happened. Okay, that's just a really regular people way to try to get your mind wrapped around the possibility of what this is Ethereum was created their native token is eth on that system et h So etherium as a layer one system again Is what's something that has built out to be um, so how can I say this? The etherium is a system and then on that system is a token and this is how cryptocurrency works really across a lot of them Now everything is in a system Look at cryptocurrency as industries just like regular businesses.
You have different industries You have the finance industry the gaming industry the sports industry not all of them are the same But etherium is a layer one system. So think javascript or something like that Where this is a system on web three which is a decentralized version of the internet that exists today Um that is continuing to be built out and there are different Versions of definitions for web three, which is why it's hard to explain some of this stuff because we're living in the history of it But ethereum is a system that things are built on. So what do I mean? There are video games built on ethereum.
Um, there are right now like, um, Marketplaces where you can buy and sell digital items built on ethereum think of ethereum like ios So when you have an apple smartphone phone Everything you do is on ios think of that the same way with android in Contrary so like in comparison you have android that's a system. What's on that system apps? Um video, uh, it's all these things so think apps and systems ethereum is a system And the the things the apps built on ethereum are called daps Decentralized apps so works the same way like ios decentralized apps They're different than normal apps because they're decentralized we talked about decentralization earlier. What does this mean germane?
What does it mean tell me what does it mean? What i'm sorry. How did i get here Anyway, so are you following me ethereum is like ios and again, this is a regular people definition of it So my take expert people don't don't do me like that don't do me like that All right, so if ethereum is a system and then Daps are built on ethereum. What does that mean?
All right, let's let's make it real So when you invest in eath if you were to invest in eath which i'm not telling you to do What you would be doing is owning a portion Of that layer one system that that's that's basically what you're investing in So think of like the stock market if i buy shares of apple like when you buy eath tokens You own eath the price is volatile it goes up and down it fluctuates right? So if it's what's the price of eath today like $4,300 if it's $4,300 today and you own one eath And in two weeks if it was $8,000 then that one eath is literally worth $8,000 now now at the same time if it's worth $2,000 then now you your $4,300 just went down to 2000 But here's what makes it so unique You can also use it as a token to buy and sell On the platform the depth all right make it make sense germane. Here's an example I'll talk to you guys about the metaverse. This is where the metaverse is really a part of crypto If we had a game let's use a game like candy crush.
Okay, I don't play candy crush But um my wife plays sometimes so if you take a game like candy crush and I know at least there's something There's some type of token she gets when she plans his game. All right Now let's imagine that instead of in the centralized world where the tokens are owned by the company And if you pay money real money, I don't know if you pay real money for candy crush or not But imagine you do pay real money to get more features in a game You don't own it In the decentralized applications when you're playing a game or you're doing anything on that system with that token You actually own it Now, what does this mean? It means that if I'm playing a game on ethereum and the game pays out tokens or points or whatever not point But tokens like coins that means that is also actually real life money Like that has real value that I could then trade in or sell or swap is what it's called when you're swapping tokens Again, this is a regular people example This stuff I can get really deep into and probably start confusing myself the more I talk about it But the idea here is not that you walk away today as an expert the idea is that because you are a contributor Because you are a thinker and a doer and you don't want to just wait until this information is in the mainstream And just be a consumer of it. You want to understand what's coming as a believer I truly believe this as christians as christians.
I believe today We are way too reactive and we need to be proactive We wait for the world to lead us in everything They know what's coming before we do so then we're stuck with being consumers when it comes out And then we yell all this stuff like we so scared of it or it's the end of the world and all that and then what do we do iPhone comes out and we stand in line for three hours for it and we talk to cereal on our phone That's um, that's AI artificial intelligence. We so scared of AI, but we talk to cereal to time I'll tell y'all right now. Siri been off on my phone. I never in my life.
I don't talk to no phone Like I'm not doing it. I'm not talking to it. I'm not saying is right again I'm not saying is right or wrong, but I'm saying is that my point there was not that my point was There are people that's like you'll be sitting here saying how crazy is it? And I'm like you talk to a phone or that you talk to artificial intelligence They the phone is listening to you and learning you that's the point of it like my point is like education is more powerful than fear before You're fearful of something you should be educated about it So that's what we do today We're just having a little bit of information and education for regular people so that you are not just a consumer But you could be a contributor to society and figure out how do I want to use this or how do I not want to use it?
Or what does it mean to me? What value do I see in it right again as believers? We should notice stuff before the world does and I know as believers out there to know this believers out there Some of y'all know way more than me and you probably like you was wrong about this and it's okay when you ain't already person stop Listen, I'm just okay. I appreciate the fact you listen to the show right now Alright, so let's keep you moving So you got layer one systems, you got a token you got daps now What I'm not going to cover today is layer two systems zk roll-ups and there's a bunch of other things that are a part of crypto currency But what I really want you to understand is that again web 3 which is that third phase of the internet that I told y'all about We really went from informational to social and now it's going to be kind of like integrated with a lot of things And again, there are some things to be concerned about for sure But it's hard to be concerned if you don't know what it is Um, so what else do I want to cover with y'all?
Um, let's let's cover meme coins really quick. Um, and I'm again, this is a quick overview high-level overview Um, there's so much more to get into here. I'm gonna have to do multiple episodes on cryptocurrency the metaverse and nft's and beyond So let me know for the the tikki nerdy people out there if you want to notice stuff Shoot me questions email me germane wilson music at gmail.com. Let me know how you feel about this episode Let me know if you want to hear more or let me know if you hate it and absolutely don't want inspire guys people to focus on this But please do know even if you hate it all jokes aside It's not like this is the show now i'm going to just only talk about this I got an interview right now with a ceo that i've been sitting on for a couple weeks because I didn't want to share it over the holidays Um on holidays sometimes, you know, there's a delay in some of the times that listens people with a family So I want to make sure I released that show um in a time where people were really listening and that's probably going to be sometime this week So look out for that.
We got a really great interview coming in with christen holt um holt who's a ceo of green green path financial. I believe it is All right, so let's keep it moving mean coins Let's talk about dogecoin and let's talk about shiba, you know Because what will happen is again most people I talked to they know what those are some people Most people I talked to have invested in those in some regard and those are really like um in my opinion the way I view them Is there like the modern pyramid scheme is how I see it now again? That's just my take on it is deeper than that. Ultimately mean coins are they were created as a joke So dogecoin was created as a joke at first and again there's some some coolness about this because People in community are giving things value in as decentralized world and not just a government even though Uh the government is going that that was just thing is not gonna be like this forever They're gonna they don't get they they piece of the pie Um, but ultimately dogecoin was created as a joke, but then so you get all these people a huge community of people I mean there's dogecoin's market cap is I believe 30 billion dollars So you're talking about 30 billion dollars that people have you know Invested into this um what it's turned into now is just this very large community where people basically decide Hey, we're gonna invest in this shoot the price up and then you have things called like a rug pool Or you may have somebody who invested you know millions in it that when they take their money Like you know, I must kill make a tweet and then people will buy dogecoin and who knows he might be the person Once the price go up pulling and pulling his big chunk of money out and then the price goes down What's my point mean coins are just hype coins?
They they don't do anything. They don't have value at all really however Because cryptocurrency is happening in real time. There is adoption even taking place across mean coins Now there's probably hundreds or thousands of mean coin uh doge and she but inu are the most popular But just understand when you're investing in a mean coin it is a very volatile It's even more volatile than the typical crypto market Which is volatile by nature but a mean coin what it means is you can make a whole lot of money But you can lose a whole lot of money and it's really hard to time that stuff So, you know, that's not something I get into personally But again just so you have understand it now shiba inu Um, which is kind of considered the doge killer Which just means that it exists uh with the idea that we're gonna be bigger than doge Well, they're also like, you know, 30 billion dollars or something They're like um, let's say if doge is number nine or ten they're number 11 or 12 something like that Don't quote me it changes from day to day But that's around where they're ranked in all cryptos in the world And they're at least like there are a couple thousand cryptos, I believe So ultimately what is my point with this? Shiba inu um, they are saying that they do have plans to build a real platform for the future Um, so that's plans if you believe in that you won't invest in it Um, the thing don't even cost the penny yet it may never make it to a penny based on the circulating supply Even though they claim they're gonna be kind of burning some coins That's what it's called when people try to decrease the supply of the total supply of the coins in circulation Or the coins to be minted in the future All right, so there was a lot said there The point is that's what mean coins are So when you on the internet and you see people talking about doge or shiba inu and they say they made all this money A lot of people have made a lot of money But just know that if you invest in here because you're really investing in Um hype in a community now that is growing that could be something in the future Not my place to say whether or not it'll be successful But just want you to understand ethereum is a layer one system that has billions of dollars of transactions happening on it Um, that is live right now Um, doge is just something that people said let's if all you and your friends got together said, let's create something That's what doge is All right, so in addition to that here's where I think I want to end this set Um in addition to what we talked about you can look at cryptocurrency as Really tokenizing all industries.
So what do I mean by that? When you when decentralizing all industries and tokenizing them now the way cryptocurrency works is I got to talk about it in terms You understand what if every website you got on today had their own coin, right? So if I go to nikey.com and it was a Nike coin Nike books and then I went to um, but also what if I went to DoorDash and I had to use dashbooks like so whether it's the food industry or whether it's the clothing industry The idea is that Hey, what if regular everyday people could almost invest in everything? And so there are a lot of things being remade.
I'll give an example There's a music site being remade. It's called audience. Um, but when you think about how we stream music today You stream the music you have the middleman like, um, you know, um apple music. Let's say they take a huge cut Um, they charge a monthly subscription and the people the artists really get a small next to nothing Pinies on your song, right?
That's a centralized operation and industry in a decentralized world. Okay. Cool. I upload my music to audios Um, and if you go in there and do something with my music like it goes to me or I can buy audios coins I can also own part of that.
So again, and I don't I'm kind of speaking on some. I don't know all the way about what audience I've been on audience I've used it. I have one song on there that uploaded a song that I never released before either by the way I have played it on this podcast in the past though. Um, but my point is like There are it's a decentralized way to look at the world So a lot of things in cryptocurrency, you're gonna look up one day Please believe me when I tell you this and this is why I'm talking about these things You're gonna look up one day And this whole new way of doing things just like the internet came out and smartphones came out And when these inventions happen just like electric cars are happening now you look up one day and everything is electric It's like, hey, when did that happen?
Like what happened? I'm on I said electric cars was stupid. Why am I at the uh, battery station? Not the gas station.
I'm at the battery station. My point is I know that this stuff is gonna happen. It's already happening That's why like contributors always know what's happening before consumers I want you to be a contributor. I want you to know what's happening in the world And you don't have to be afraid of it.
You need to be prayerful You need to be seeking God about what to do with it But education is more powerful than fear So we're talking about these things so that you have visibility and understanding about it because you're gonna look up one day And every site that you go on is gonna be decentralized and you're gonna have everything's gonna be tokenized and all and It already exists I mean, there's so much more than I'm not talking about that literally billions to trillions of dollars are already in circulation in this industry And so You know, it's better than no now You know, now what you want to do with this information. That's totally up to you I'm not here to tell you what to do or what not to do what the feel or what not to feel But here's what I know when I say it on the metaverse episode Man, you're not gonna tell me that some of y'all not gonna be in the metaverse Some of y'all not gonna be listening to music or whatever platforms or some of y'all got avatars on your phone right now And I'm saying y'all but I mean us. It's everybody right My point is just take a deep breath Pray about it. I'm also talking about this in advance so that you can be prayerful about it So that we can be seeking a lower now about what to do now There's a lot of evil that could be done with this stuff No different than everything else in the world But there's there's just a bunch of evil.
I mean think like iRobot like who wants a robot like I don't No, I'm good, but I want to be knowledgeable about the world I live in and I want to be a contributor and just like the internet right the internet There's a lot of evil on the internet. There's a lot of access that the internet provided listen youtube alone like kids can just I know they got youtube kids or whatever but when I look at my nieces and nephews and they own youtube They always own youtube kids on tiktok man I look the stuff that these kids and even adults have access to right now I wouldn't have made it as no christian because I would have been typing in lord knows what in my phone at 14 years old unattended with a phone and 10 years old like I mean I would have been out here messed up So you got to understand what's going on you got to be prayerful and watching over your kids and praying over them and things But my point is that the internet gave access to a bunch of evil This is going to give access to a bunch of evil evil evolves because when new technology um becomes new evil thoughts Here think about this in the bible the tower of battle The tower of battle is one of the most amazing stories to me because it shows this interesting dynamic of the power of unity and unifying But also the evil in unity. It's like when me and come together on one page on the same page They can do anything they want to build a tower into heaven And then guy had to scramble up the language because there was so much evil in that unity that yes There will be people that want to take over the world there are people now who want to take over the world pinky and brain want to take over the world Like there's a lot going on in this world and whether whether cryptocurrency exists or not people are going to be evil That's like if you go to prison they don't they don't have guns in prison not the prisoners So they make shanks and hurt people like it's a weird thing about how evil we are as human beings like We don't need resources to be evil Like you could kill somebody with a fork in prison god for be it happens I'm sure it happens though because to a to an evil mind even though a fork was created as a as a utensil for eating like to an evil mind They see something else. So I just want you to understand that yes evil people will see and utilize things in evil ways That does not mean that something was created specifically for evil.
It also doesn't mean that hey a fort has some Reasonable uses like okay like if it makes sense for me to okay a knife for a steak makes sense But don't point that at me. You know I'm saying so yes I just want you to wrap your mind around this idea that Hey cryptocurrency is here already like people might say it's coming. It's here I'm telling you the more I study this stuff the more I realize oh it's already here and I don't just study I use it so I like when I say I use it I go on the daps I try to for me to be a contributor I have to understand what's happening and see it and like understand what's here because I used to think cryptocurrency was just like oh What's that it's currency or something that might be coming one day? It's like oh no it's here buddy.
It's here buddy. It's not coming. It's here That's the thing about a consumer a consumer is a slow reactor to things and a contributor is ahead of the curve So hopefully this episode has helped you to become a contributor and hope you are more educated than fearful now And again, I'm not buying or selling I'm not telling you what to do or what not to do But I would like to know what you think about this episode hit me up germane Wilson music at gmail.com If you want to look for my information Please do look in the description of the show and read through there you can find my music and a whole bunch of other things Listen, this was cryptocurrency for regular people because you are not a dummy and neither am I God bless y'all. Love y'all share this episode with somebody and everybody