Side Hustle City

Navigating the Crypto Landscape: Insights, Strategies, and Nostalgia with Luke Sestito

March 13, 2024 Adam Koehler with Luke Sestito Season 6 Episode 16
Side Hustle City
Navigating the Crypto Landscape: Insights, Strategies, and Nostalgia with Luke Sestito
Show Notes Transcript Chapter Markers

Embark on a journey through the crypto cosmos with Luke Sestito, our return guest on Side Hustle City, who brings a wealth of knowledge to the table. Prepare to navigate the highs and lows of the market with our firsthand tales, from the adrenaline rush of buying the dip to the intense debates on Bitcoin's future amidst institutional meddling. We reminisce about the simpler times of Bitcoin's infancy, marvel at the Ethereum revolution, and consider the place of early enthusiasts in today's landscape dominated by financial behemoths. With the resurgence of Bitcoin's clout, we candidly discuss the spikes and plummets inherent in trading, offering a word of caution: this digital rodeo is not for the faint of heart.

Dive into strategic musings as we draw parallels between AI's infiltration of cybersecurity and the tidal wave that was the internet's advent. We poke at the inflated promises of AI-blockchain hybrids, while acknowledging the trailblazing tendencies of Bitcoin in setting market precedents. Moreover, we share golden nuggets on cashing out from unpredictable tokens to reinvest in the crypto stalwarts. The episode closes by stirring up nostalgia for the days of community-driven crypto meetups, and we're left toying with the idea of rekindling those embers of camaraderie in the crypto community. Join us for a session rife with insights, strategy, and a touch of sentimentality for the old-school crypto days.

As you're inspired to embark on your side hustle journey after listening to this episode, you might wonder where to start or how to make your vision a reality.  With a team of experienced marketing professionals and a track record of helping clients achieve their dreams, we are ready to assist you in reaching your goals. To find out more, visit www.reversedout.com.

Talking Trading - Expert trading and investing tactics so you can excel in the markets.
Your key to getting the results you deserve.

Listen on: Apple Podcasts  

Support the show

Subscribe to Side Hustle City and join our Community on Facebook

Speaker 2:

Welcome to Side Hustle City and thanks for joining us. Our goal is to help you connect to real people who found success turning their side hustle into a main hustle, and we hope you can too. I'm Adam Kaler. I'm joined by Kyle Stevy, my co-host. Let's get started, all right? Welcome back everybody to the Side Hustle City podcast. Got Luke Sestito back in the back in the building today. What's up? Luke Glad to be here. So crypto is doing its thing right now and I would expect that we do a few more of these because it's hot right now. There's not a lot of people that interested in it normally, but you know, everything's kind of popping right now.

Speaker 1:

Yeah, also, if you look historically, when Bitcoin runs up to its previous high, generally you have a 20, 30% pullback. So maybe this was it, maybe it wasn't. Maybe it won't happen with all the institutional money, because I saw somewhere I think BlackRock picked up 12,500 Bitcoin when it dumped at around 60, 62 or something I tried to buy it at 50.

Speaker 2:

I had cash, I had to check or I had money.

Speaker 1:

And I transferred from the bank.

Speaker 2:

Right, I had money that I transferred from the bank and I had an order in because Coinbase had crashed a couple of times. So I'm like you know, whenever it crashes there's an opportunity to buy it like it's some stupid amount of money. So I had a limit order in at like 10 grand or something like ah, what if it drops to 10 grand? And then all of a sudden it does start crashing? It goes all the way down to 60, right For a second, or 59 or something, and I canceled that order. But it wouldn't let the money clear just then. Right, and at the same time Coinbase was having problems with its ordering. I was so mad.

Speaker 1:

Well, let's be honest, this sounds like a conversation we had in 2017. Every single time there's a crash, binance, coinbase, regardless of who it is, all of a sudden they have problems. So if you're trying to get out, you're not getting out, and if you're trying to get in, you're not going to get it. So you know, I remember the good old days when you remember when Bitcoin used to drop 70% and then bounce right back up, and if you had buy orders then they would get filled. But I think the New Yorkers have moved in now and those opportunities are gone.

Speaker 2:

Yeah, the Sandy Salmons of the world.

Speaker 1:

Oh, shout out to Sandy. I don't think Sandy is currently a Bitcoin holder.

Speaker 2:

But yeah, I, like you know, crypto's exciting Crypto's something for people that have money to lose, essentially, like I think so and I think the game of it right, the game of it Not buying, holding and hodling, but people who you know are day trading it. You know, leveraged investors, things like that, I think, are for people that can afford to lose. They're not for regular investors, people that don't have a tolerance for risk. Those and you and I do. I mean we're founders, we, you know, we've done technology stuff, we've wanted some things, we've failed at some things. You know, risk is kind of like in our blood but it's not for everybody. I don't think, and you could see that how many people got washed out when that dump happened? Right, and when they get washed out, they I mean you get destroyed. Trading with leverage.

Speaker 1:

Well, I think, too, the problem that you have now is now that institutional players are coming in. A guy told me a long time ago a retail investor and an institutional investor should not exist alongside each other, because the institutional investor will always end up with all his money, and that's what you're going to start to see now in crypto, I believe my opinion, only over time, these big banks and institutions that are coming in. If you're going to try to trade against them and game the market, you're going to lose.

Speaker 2:

Well, here's the thing too, when the market cap of Bitcoin was really low, you could see whales manipulating the price. They could just go in because they held so much Bitcoin. They could buy, they could sell, they could spike the price, they could dump the price, and a lot of those whales, too, are miners, right, so they're out there manipulating things. And I always thought in my head I'm like well, when the institutions get in, that's when the market cap goes up and it makes it harder for whales and investors with a lot of Bitcoin, or just regular retail investors with a lot of money, to manipulate the market. But now it's just the institutions that are going to start manipulating it, correct?

Speaker 1:

You know the other thing that I see here, because I sort of always considered you and I to be next gen or generation two. So there was this generation of Bitcoin guys right, and maybe you were a little before me, but when we got together was the Ethereum movement, right. So I always figured myself sort of an Ethereum guy and ETH guy, right. But now you really see the resurgence of BTC. You see these, what are they? Brc20 tokens coming out.

Speaker 2:

Yeah, that's a new one yeah.

Speaker 1:

You see the investors moving straight into Bitcoin, so some of the OGs are back in control. We'll see if ETH follows suit.

Speaker 2:

Well, yeah, I mean we were in the days of like EOS, when people were building stuff with EOS.

Speaker 1:

Yeah, there was a total waste of space and money.

Speaker 2:

Oh, dude, it was wild man and people were just making billions dude scamming people and I mean they're all probably living Puerto Rico now, but it was. I mean, let's be honest. But I mean there was a lot of people. I mean we got into some projects that we probably regret we ever got into. I know, I personally. I mean we were buying ETH at 10 bucks when we first learned about it, you lose a lot of ETH that you should have just held.

Speaker 1:

You should just held it and some of these small projects, thousands of ETH we had. But listen, here's one of the big issues I see with this market. Some things are not changing. I mean, you still have a lot of projects launching that have no value. And the other issue that I see here, with all the talk of ETH being cost effective, I went to make a transaction the other day. You know I like to buy the projects before they come out. So there was a small project and I thought I'm going to throw a thousand into this project. So I take a thousand and ETH and I go to put it in the project. Guess how much the gas fee was? How much? $286.

Speaker 2:

Insane dude.

Speaker 1:

So you know that's a thousand and to some people maybe a thousand is not a lot. But I'm going to say, the vast majority of people who invest in crypto, if you're investing a thousand, you don't want to pay 28.6% upfront.

Speaker 2:

Yeah, yeah.

Speaker 1:

So you know, I'm really kind of high on some of these level two solutions and some of these. You know other avenues, you know. I think Maddox is going to do good. I love Solana. You know some of these. That's a new.

Speaker 2:

ETH to me? Yeah, to me as well. It just you hear this, you get the same feeling when people talk about it that they did. That you heard when they were talking about ETH and the gas fees are lower and you've got a lot of projects getting built on it. I mean even like. I mean, you know people make fun of them, but meme coins, I mean there's some meme coins being built on that. See, this was the problem I had back in 15 and 17 and all that. Like when you get up on stuff, you're like damn, I got to pay tax on this because I just bought it like three months ago, you know.

Speaker 1:

You need that long term capital gains.

Speaker 2:

Exactly, I want to wait a year, right? And then you try to wait a year and everything dumps.

Speaker 1:

And it's like well now I don't.

Speaker 2:

it had no sense in even selling it Just out of curiosity.

Speaker 1:

Is Pepe a Brazilian coin? I don't think so. No, I don't think so. The only reason I asked when I was at Rio, there was a bar on the beach in Barra de Taduca that was called Pepe's.

Speaker 2:

Well, pepe is a meme, so it's a meme. I think it was popular on 4chan or something. But it's that little frog and they use it for a bunch of stuff. It was just a meme. Yeah, I know it's a little frog, but I didn't know what country it was from. No, they just it's probably America. They just turned it into a meme. And then they turned it into a meme coin. Shout out to the.

Speaker 1:

Pepe bar on the beach, but it's probably the most ice cold drinks.

Speaker 2:

It's more popular, Like that meme is more popular than Doge or any of those other rimes right.

Speaker 1:

Well Doge is popular because of Elon.

Speaker 2:

Yeah, that's why everything spiked so much.

Speaker 1:

Yeah, I see the meme coins are running. I don't get into that space very much. You know, I was heavily into the DeFi space, as everybody knows, in the last run and the DeFi space did really well for me. Right now, the DeFi space is doing zero, yeah, so the thing that seems to be pumping a little bit as well the last few months is AI.

Speaker 2:

Yeah, the AI coins. No, they were pumping before the meme coins Actually. Yeah, yeah, that people were piling into those suckers and I'm trying to figure out is there any utility in some of those projects? I haven't, honestly, you know, looked into a lot of them that in depth. I don't know if you have, but you know you're going to have people still buying stocks of publicly traded companies, like, if you want to get into the AI thing, what's the next publicly traded piece of AI? And what I'm hearing is companies like CrowdStrike right, companies that do cyber security using AI right, there's some AI play in the cyber security stuff. So a lot of people missed Nvidia. But are we getting a little long in the tooth when it comes to the money that's gone into AI anyway? Or do you see AI as essentially the next internet?

Speaker 1:

AI is the future, but is AI and blockchain the future? My guess on that is no. Listen. What so many times happens in the blockchain space and continues to happen and isn't getting any better, which threatens the space, is people grab on to something that's hot in the market and they combine it with blockchain and they start selling a bunch of tokens. Yeah Right. So I mean, ai is one thing, blockchain is another thing how those two things fit together. If there's a need for that, okay great.

Speaker 1:

But I think a lot of the blockchain companies that I've looked at that are AI. Blockchain companies are just throwing two names together. That being said, you jump in early, you're going to make 10, 15, 20 acts, but long term and I'm sure someone's going to hear the podcast say, oh well, there's this company. Listen, there's always legitimate projects in blockchain. The problem has been from the beginning and still is now try to find them. They have to have utility, they have to have a good team, and what's the long term goal? So there's so many projects now still launching that just have no use.

Speaker 2:

Yeah, there's a ton of them that are still floating around on coin market cap on some of these exchanges. They got no use. I mean Kucoin places like that. I mean there's tons of coins you can find on there that are the project's dead, you know, and there's still coins floating around, I mean. But the thing was was at one time some of those coins were, they were pumping, everything was pumping, and when you have these, when you have these Bitcoin moves, bitcoin always seems to lead right. Every time we have one of these things, bitcoin's a king. Bitcoin leads and in this case, of course, bitcoin's leading because institutional money is pumping into it. But then all the retail investors start saying oh, oh, Bitcoin's already run. There's no money to be made in Bitcoin. Where's it going to go? 150? If it's $6970,000, that's only a 2X.

Speaker 1:

Because I'm in the same boat as you. I thought the other day like I could just dump my portfolio into Bitcoin and if it goes to 150, you've made 1.2X and I thought that's no money. Exactly Right. And what? Nine months, one year? That's no money.

Speaker 2:

I mean you could go do some work. You could go do some consulting work and make what you're probably going to make off of that, so you're not that worried about it.

Speaker 1:

The keyword work. Yeah, work.

Speaker 2:

Yeah, that's a problem.

Speaker 1:

I mean, look the real problem with crypto and I'm guilty as anyone. It gives you ADD. It's seven days a week, 24 hours a day.

Speaker 2:

Dude, I'm up and seeing, like, if I go to sleep now, what's the trend? If the trend's down, I'm like, well, if I wake up in the morning at 7 or 8 o'clock, it might be a good time to buy, right, you know? So that's what I'm always saying, because it always seems like 9 AM. For some reason, something happens.

Speaker 1:

Yeah, I guess the transition of Asian markets to US markets. The US markets maybe, I don't know, but it literally gives you, as an investor, add. You're paying 100% attention to it. You know, a gain of 7 or 8X. You think, okay, but I should stay in because I need the 100X, I need the 50X. You know the one thing that I've learned over time and a lot of failure when you get a 7, 8, 9, 10x gain on some coin that has no use I'm not talking about a Solana or an ETH, I'm talking about a Pepe.

Speaker 2:

No, no, you know what I mean. Take your money. You're saying that and I'm like damn, should I sell my Pepe?

Speaker 1:

No, no no, I'm not giving you advice on when to sell. I'm just saying for me personally. A lot of times I've held those coins, thinking there's 8 to 10X but I can get 20. I'm going to give you an example. I had a portfolio that we did. So we have a fund in Dubai called Saudi Crypto Fund. In the Saudi Crypto Fund we had in Dubai In 2022, we did 12X, and I had one part of that portfolio that invested in newly launched companies. We only invested $5,000. It was worth $140,000 at the height of the market. Guess what it's worth this morning today. How much? 4,000. Wow, yeah. So you get those little tokens that run and they pop. The number one thing that you should remember is the way to make money is then roll them into the blue chips and to the big caps.

Speaker 2:

That's what's happening now. That's why I think Solana's up to what $140 something. Yeah, they're saying you got people just rolling money back into the blue chips.

Speaker 1:

Yeah, I mean. Because even if the blue chips correct, what are they going to correct? 50%, yeah, 40%. When the small tokens correct, you may have got a 10X gain, but you're going to lose 90, 99%. That's right. Yeah, people need to remember it's a game, right?

Speaker 2:

Yeah, I mean, it's an investment but it's also a type of family. Don't get greedy. Essentially we're not giving financial advice, guys, but look, just from our experience, just don't get super greedy. You keep hearing these things from these influencers and stuff that are like, oh, life-changing money can be made life-changing money. In your head you're thinking, man, I could pay off a house with this, I could do whatever If I, you know, and don't borrow money. Like that's weird to me. Like there's, I think, because money is expensive right now. Okay, because money is expensive. What they're saying is retail really hasn't gotten into crypto yet. This is institutional money and this is probably whales and stuff pumping shitcoins right now. But retail really hasn't gotten behind a lot of this yet, because it's usually younger people who don't want to work. They're looking for a quick way to make a buck and they go and they borrow money off a 0% credit card.

Speaker 1:

Up until you said borrow money, I was going to say it sounded just like us Young people that don't want to work. Yep, it's me and you. That was a one point we're not going to get any more.

Speaker 2:

I still don't want to work, but I feel young, come on, yeah, yeah, but I think you know.

Speaker 1:

definitely, the thing with crypto that never changes is sort of that cycle of number one, the influencer, these guys on YouTube that they're telling you to buy. It's like being on the Titanic and they're going to tell you the hole is going to get patched up until the point the ship is already cracked in half and it's down right, because the one thing I see we've been in this long enough. Now there's a new generation of men and women coming up that are getting into crypto. Just remember, a lot of these guys are getting paid free tokens. They're getting paid Bitcoin or ETH to pump tokens and they're not looking out for your or my's best interest or anyone else's. So, yeah, you got to make your own decisions in crypto and you got to be very careful. I saw crypto.

Speaker 1:

The other day I was on Telegram and they said we're releasing this new meme coin and someone said like well, who's the team? And he said we can't release the team for the team's protection.

Speaker 2:

Oh my God, yeah, you already know that's a start up.

Speaker 1:

Right, I mean you know, but people dumping money into it, right? So if the team is doesn't want to release their name or their face or tell you who they are, I would be careful.

Speaker 2:

Yeah, 100 percent. Be careful. So what do you think is so? If you had a portfolio of 10 coins right now, what would be in that basket of five coins or so?

Speaker 1:

So for me, the way I look at it is I look at Blue Chips and then I look at sort of mid level and then I look at high risk and since the end of the last cycle, I've been really into gaming tokens.

Speaker 1:

Ok, so, because here's why, in my opinion, gaming is the one area where blockchain makes sense. And if there's, if you're a serious gamer and some of these younger guys and ladies are gamers, right and you can figure out a way to get paid, then you've got yourself something and you've got a good use for blockchain. If you, if you have, you know, in some of these games you buy a sword for a character, a shield for a character, a dress for a character, if that now belongs to you as an NFT and can gain value when someone else wants it, it makes sense, right? Because you're using the virtual world now to copy the physical world. Yeah, so I really like the gaming space overall. That's not a lot of tokens in that space compared comparatively, but you know some of the top ones I would take a look at. Pyr is one that I held.

Speaker 2:

I definitely like the layer one stuff, right. So like Solana, ethereum still right, because Ethereum might get an ETF. So you know Bitcoin. Obviously you're going to hold up the probably the vast majority of your portfolio in Bitcoin. Then your price second holding would be something like an Ethereum. I'd say right now, probably Solana, maybe a Polkadot and a Chainlink. If it was my five, like if those were my five coins that I think are actually real projects, maybe even a Cardano, like you might want to throw Cardano in there, yeah, or XRP, but those are. But those have been around a long time though, luke, you know, like those are names that have followings and that's a big deal in crypto. It's you've got these coins that they've lasted two or three cycles.

Speaker 2:

They have communities but they've lasted two or three crypto cycles, right, and their old school, right they're. They've been around a long time, but they're not these dormant projects that are doing nothing. They have teams, they have communities, do they? I mean, what's ADA doing?

Speaker 1:

I mean it's not doing anything. Well, last time I seen the dude during the bull market, he's riding a camel in Egypt. You know, you got to work during the bull market. When the market's down, go ride your camel. No, no, but you know for me. I agree with you on Bitcoin. I agree with you on ETH. I love Solana. Madic is a good one, madic.

Speaker 2:

Yeah, people don't talk about Madic Avalanche, that's another good one.

Speaker 1:

Yeah, avax. I actually was fortunate to be an Avax from the beginning. Avax is a good token. I like optimism, you know, is a good token. Injective Injective is another good one, I think. Yeah, I had some injective for a while. I got out of it, but yeah, I mean those are the blue chip products there's. There's three areas that I always like. I like anything that has its own code right. So ETH, it has its own code. Avalanche, it has its own code right when you have these layer projects that have the layer ones that other people are building on top of.

Speaker 2:

Almost like.

Speaker 1:

they're almost like Windows or iOS and people are making apps for them and people are building things.

Speaker 2:

So they're using them, Yep.

Speaker 1:

The second place that I always liked was the exchanges. So if you look at Binance I mean you were, I think you got had Binance at like three dollars or one dollar or something crazy. I think Binance again crossed four hundred and fifty dollars.

Speaker 2:

Oh, wow, yeah, this morning, I think, if I'm not wrong, Binance did yeah, and I'm not really watching because I don't trade on Binance, so I'm for 70 right now. For some Wow 10 percent today.

Speaker 1:

Yeah, it's always going crazy. So same thing Uniswap Pancake swap. I like to be involved with the exchanges because the exchanges are making money right, and as long as they're making money, then their token for that exchange tend to go up.

Speaker 2:

So for me. I like that kind of stuff that has utility too. So actual tokens yeah.

Speaker 1:

So I think crypto is maturing, but in some sense, when it becomes just like what we already have in the regular market, then I ask myself what's the point of it. Yeah, others in turn in a quick buck.

Speaker 2:

Yeah, when it turns into gold and it just becomes like a fixed asset almost, or store value and the price doesn't really move anymore, are you going to have that same excitement over the crypto market, or what's going to be the next thing? There'll have to be something, right.

Speaker 1:

Yeah, well, that's part of the problem in crypto, right? Because everyone has ADD checking their crypto 24 hours a day. People also have ADD about projects. We expect a project to come, we expect it to blow up and we expect it to make us money in three to six months.

Speaker 2:

Very few will never do.

Speaker 1:

Right? Well, very few ever do. Number one we know that we've been involved. And then number two issue is the communities. Don't give them a lot of time. You know, the Bitcoin community is fiercely loyal, the Ethereum community is fiercely loyal, the ADA community fiercely loyal, but if you go to something like a Vulcan forge, how loyal is their community?

Speaker 2:

Well, they're crying at you all the time because they put their 10 bucks in or whatever, because they live in Malaysia somewhere.

Speaker 1:

The Pepe community as well. So you know there's a lot of pressure on these cryptos to either make money or move on. So you know you have to be careful, invest in there too and understand the community. Yeah, but you know I mean overall for this generation of people, meaning since 2008 till today, I don't think there's any been any way to make money this fast as in crypto, unless maybe you know you're Pablo Escobar.

Speaker 2:

Yeah, that's about it, that's its own issues.

Speaker 2:

Yeah, and I think what I learned in crypto from 2017, 2018, those times we were in it I think what I learned is is that there is a community and I think they've all migrated now to Puerto Rico but there's a community of people that essentially run everything Don't forget to loom Mexico and to loom Mexico but there's there definitely to loom. But in Europe, man, there were so many shady people we met. It was like everybody was a scammer. Yes, everybody's like. Certain places Europe, especially the some of the places we went in Eastern Europe and we were bouncing around. We had our little project that we were trying to work on.

Speaker 2:

Actually, it's still we're still working on it but you had people. Just, it just seemed like everybody was trying to get one over on everybody else and they knew something or whatever. But it's like these decisions are made by a few people and I think they're just like. They get together and they decide when to pump stuff, when to sell stuff, when to launch a new coin. They've got the marketing people and they've got the communities they can reach out to. They've got newsletters and these people can just pump stuff anytime they want. But also, I mean you have to think.

Speaker 1:

I think about crypto in a way like the Wild West. So you had your gunslingers that went out to the Wild West. You had your guys that fought Native Americans. You had kind of wild people that first went West, right, and then what happened? They sort of took over spots of land. They would go out with an axe and mark four trees and be like that's mine. Then, 20 years later, guess who comes? Government, the lawyer?

Speaker 2:

Oh yeah, the attacks right and the lawyers that pay right.

Speaker 1:

There's no paper here. Oh, I'm going to take this for my buddy in New York or my buddy in Boston, and then come the government right. So you know, be careful in crypto, because I really see, like in 20, even 2017, the run of 2017, these are the people we were dealing with. They were the gunfighters. The guy who maybe has a wanted poster in some country, somewhere, you know, maybe he's hiding from the Russian government, but what's coming now? Now it's coming the bankers, now it's coming the industry, and so those people are not going to let a guy sit in a Tulum or a guy sitting in Puerto Rico. Screw him out of money, for lack of a better word. So the market is beginning to change and hopefully, hopefully, it gives the market credibility. If these New York bankers now that are coming in just decide to be robber barons, then the whole thing's going to go down in a house of cards.

Speaker 2:

Yeah Be careful in these bull runs. Be careful in these markets. Keep an eye on Bitcoin. Bitcoin really leads everything, so Bitcoin's the king.

Speaker 1:

That'll never change.

Speaker 2:

Bitcoin goes up Probably. You know some of these other coins are going to go up. Not financial advice again, but you know things follow Bitcoin and you get people that just ape into stuff and they're just going to be people all over the world that think they're going to get rich throwing. You know, whatever money they got at some cryptocurrency and some of them will get rich, you know, if they time it right, and other people are going to be left holding bags of coins that aren't worth anything and you're going to help other people make money. So you know who do you want to be and be careful and don't get greedy.

Speaker 1:

Yeah people play the lottery every day, that's right. I mean your chance to win is a trillion to one.

Speaker 2:

People keep doing it.

Speaker 1:

But you know, if I win $500 million in the power ball, I'll stop buying and buy you a sandwich.

Speaker 2:

Yeah Well, if you're an accredited investor remember, guys you can invest in all kinds of stuff. That's almost practically guaranteed to make money. I could go invest in a real estate project at the early stage, when they're just planning it and they're looking for investors. I could make three and a half, four X in a few years practically guaranteed and I could quadruple my money.

Speaker 1:

Okay, but wait a minute. Okay, now I'm going to take issue with you. You said the word accredited investor. Tell the people on the podcast what that means.

Speaker 2:

So you have to have over a million dollars in net worth. Okay, that's enough.

Speaker 1:

So now, what we're talking about is, if you're already rich, the rich people are going to help you get richer, and they're going to get richer.

Speaker 2:

But the government won't allow you to invest if you're not accredited in those kind of projects. But guess what? You can invest in guys. You can invest in the lottery, you can invest in the casino, you can invest in things you're almost guaranteed to lose money at.

Speaker 1:

And this was the whole reason for crypto. It was a chance for a guy with a little to manage his own funds and to make money, and so I think you know, let's hope that that dream can come true for many people.

Speaker 2:

It was a decentralized way to do it, and then some people made it bad Like it was. It was a good thing at first. I think the idea behind it is good, but you've got bad actors and the regulators came in because of those bad actors and now you've got BlackRock.

Speaker 1:

You got bad actors in the banking system. Half of the government is bad actors, and that's if we're everybody's a bad actor.

Speaker 2:

I mean, it doesn't matter.

Speaker 1:

I mean as my dad used to say, you can't clean up a guy in a mud puddle by jumping in with a bar of soap. You're just going to make yourself dirty. That's politics, right. So I think overall listen I'm bullish on crypto. I think it has a good future. Just, people need to be more and more careful because the longer crypto is around, the smarter the scammers become.

Speaker 2:

And that's all.

Speaker 1:

That's right, you know. One more note before we get off the air what's up with Cincinnati crypto? You know we used to have Cincinnati crypto in the old days. We used to meet on Saturday. Everybody bring their ideas and stuff. Yeah, I mean, actually at some point we should revisit that, you know, like Cincinnati crypto next gen.

Speaker 2:

Yeah, or do a Blocktoberfest. So Cincinnati is Oktoberfest, right, that's a big festival here in Cincinnati. So I was like man, cleveland's got Blockland, we need something here. So I was like Blocktoberfest, it would work. So I'm actually talking to some one of the universities here and I donated some crypto mining gear to them at one point. But, yeah, they're open to let us use the space and bring the students and all kinds of stuff and have them showcase their products and you know if they're doing anything in crypto and then hopefully bring in some of the big codes to see what some of these students are doing in AI and crypto. It doesn't have to just be crypto right, blockchain in general, what's going on there, finance, fintech, like and just have an event.

Speaker 1:

Yeah, we need to revisit Cincinnati crypto.

Speaker 2:

Well, guys, that's about it. If you guys have any questions, you know we're happy to follow up and we'll be putting this up on YouTube. Drop those in the comments and we will see you next time we decide to get on here.

Speaker 1:

Yeah, hopefully next week, if Adam invites me back. Yeah, there you go. All right, guys. Thanks.

Speaker 2:

Thanks for joining us on this week's episode of Side Huzzle City. Well, you've heard from our guests. Now let's hear from you. Join our community on Facebook, side Huzzle City. It's a group where people share ideas, share their inspirational stories and motivate each other to be successful and turn their side hustle into their main hustle. We'll see you there and we'll see you next week on the show. Thank you.

Crypto Market Insights and Strategies
Navigating the Crypto Investment Landscape
(Cont.) Navigating the Crypto Investment Landscape
Cryptocurrency and Investing Insights