How to vet a project - Discussion with Staked Queen

One this is James Pelton here this morning 930 in the morning here. It's always it's funny trying to work out time zones with everybody from different parts of the the world. But yeah, I'm central time 930 a.m. Here happy to have you all here. I have staked clean here today. So one thing that I like to do on my channel is as I look around and see different people that I think are interesting and bringing different aspects to the crypto space. I like to just have everybody on so again, sometimes people think of influencers as like competition to each other, but I don't see it at all that way like the more the more people you can have influencing you the better and the more helpful that is I think so as we're getting going here waiting for people to kind of hop on if you're watching this could you do me a big favor and like the video that's the number one thing YouTube algorithm looks for is the ratio of people watching to ratio of people liking so if you could do that, that would be great. And if you have questions or staked is that you will introduce you and how you should be referenced, but you have questions for her. Please ask those and I'll bring those on and I'll kind of ask her to what her area of expertise is. I know she's big into health. She we had talked about maybe talk about how to vet projects and things like that. So yes, that would be helpful. And if you could comment right now, if you're watching where in the world you're watching from that would be very great, but staked Queen. Thank you so much for hopping on. Would you want to start by just introducing yourself and give a little bit of your background? Hey, thanks so much for having me on. I'm thank you and my background is quite different from my current passion of making videos about crypto projects that I enjoy which is I'm a scientist. I'm a doctor in immunology. So give me all your questions about covid. Why your back hurts and what's that sound your jaw makes and I'm here if you want to discuss any of these worries, I would love I actually I have all sorts of pains and I feel like I'm getting old or something like that because like my neck is hurting all the time now and I don't sleep. Well, so maybe we'll talk some about that. So definitely if you have questions around that, so how do you find your way to crypto? I mean that seems like quite the quite the jump there. So how do you end up here? Okay, so I am one of those people who owns one full Bitcoin when it was worth a hundred dollars and I use it to buy. Let's say a very nice pizza. Let's say it was pizza on the dark web and that was my first experience with crypto. I then bought my first coin was altcoin was IQ a very PD. I don't know if you know the project they're trying to build the second Wikipedia and the writers are paid in IQ. So I bought that and I saw just how much of a return I made on it and just by holding for a few months. I was like, oh, that's great. Then I bought one Ethereum for my mom when it was a $500. So that kind of gave me that sort of gratification to carry on and see what happens but I never thought I would discover such complex things and learn so many things and start to fall in love with the space and the DeFi space. I mean and what it offers and how important it actually is to us to society as a whole because you go into the space personally. I one thing they don't teach you at school. Like I have a PhD and I was I was I was like financially uneducated. They don't teach that in schools, which is really important. They don't teach you what the Federal Reserve is how it came about why we have taxes in the first place. So when you get into the space you get exposed to that and you understand that this is our escape and this is our chance to have actual financial freedom. So that's how I'm here. Okay, and then how did you find your way to being an influencer and kind of how did you start to gain traction and is that something you want to grow in is you want to be, you know, a bigger influencer or you're just kind of along for the ride or what are kind of your thoughts on that? No, it started for fun pretty much. I actually have a YouTube channel for science and I I did the series called coffee with my organs where in each episode I invite one organ and we have a conversation so that the viewer starts to know about our organs. The first one was the thymus because a lot of people don't know the thymus exists, but it's our one of the most important organs in your body where your immune system immune cells become educated. So once I got into the crypto space, I started doing these videos for fun. My first one was on Aleph Finance. I was like, maybe this is a an easy way to explain to people how project what projects deliver how things work because education is so very important in this space, which is very intimidating at the beginning. We all started somewhere for me. It was so scary. I was hyperventilating when I was making my first transaction on finance who of course with someone on the phone like is this okay? It's okay. If I press the button like but the transaction show spending I don't see where's my money is. I just wait. It's gonna come it takes time to process. It's okay, but it's not there is this normal. So yes education. Yeah, we've all we've all been there. That's how we all start. Yeah, you send a little bit and then yeah, you're you're so thankful when it finally comes through. Yeah, I have to find your YouTube channel. What's a I want to find this coffee with the organs now that that sounds like something good. What do I need to search to find that? So I'm having to think whether I should tell you or not because if you find it, it's all in Romanian. There's some of the episodes with English subtitles and I can share that to you. I also have a bit of a bit where I do stand-up comedy in English. So that video is full-on in English and it's like stand-up comedy about science and I'm a mad woman talking to a cardboard I think you are probably the most interesting guests that I've had on my channel. So that's a that's what you'll have to shoot me a DM shoot me a DM later with your with some of that stuff. I would love to love to see that. So one thing that I think that you had mentioned that you have learned a lot about is how you vet projects. So I think that in particular is like a really good thing that people kind of need to learn. Sometimes people vet projects by if an influencer talks about it, it's vetted and then they are good to go into it. But do you want to just talk about how you vet projects kind of the process you go through? What do you look for and talk through some of that? So for me, it's three. It's the Holy Trinity the three most important things just like how in the body the whole Trinity is your brain your gut and your immune system. They all talk to each other. If one of them fails, they all fail by the way, and that will be very relevant to sleep issues because you mentioned that for a project. It's first of all, it's the team second of all is a community and thirdly, it's the product itself the project. So what does this project do? What's the we talk about utility, right? Crypto is a zero-sum game at best. We are basically shuffling money around most of the time. It's some money that came into the space and from one project to another we're kind of reshuffling it amongst wallets. Now when you ask what the project does to me it that is what service does it provide because it takes money out of somebody's wallet into somebody's pocket, but what becomes of the original pocket does it leave something back or does it just like can people basically so one project I will use as an example beautiful beautiful project. It's one of my absolute darlings. It's been a month and they are creating what's known as the biofy ecosystem and they provide the real service, right? They make your date a lot more secure and they provide a form of protection in this space. So yes, they will take some tokens from you, but they will put back a lot of value. So that to me is token utility token utility is not being able to do buybacks is not being able to buy more of that token. It's what it puts back when it takes tokens from your pocket. Yes, so if your pocket is still full somehow that means they provide the real service. So that is the product now the team is also really important many projects. I'm big into nodes, right? So when you invest into a node project what basically happens what it means is that you trust these people to invest your money better than you can write. So obviously I expect the team to be far more experienced than me in the crypto space a lot more experience than people in traditional finance. So and then I wanted I expect them to work well together. I would I look for a team that maybe I don't know. It's formed by passionate people. What drives them? What's their motivation in the space? How well doing do they know each other have they run a business together have they run a business before? Some teams might be might do very well, even if they just met each other. Maybe they have a very good dynamic, but this is a new space. Nobody knows what the right formula is. So you want some people to know how to sail a ship regardless of the weather and lastly, it's the community. The community is so important. It doesn't matter how good your product is how solid your team is if there's nobody there to hear your story, there was a Faustinian novel that I think is very appropriate as an example for this man wanted to be the best bass player in the world and he traded his soul with the devil and he became the best bass player in the world, but he never wished for fame and nobody ever hear heard his song. So it doesn't matter how good your your product is if no one's there to buy it. So I look at the community. This is also a lot down to the team how good their marketing is, of course, but what kind of investors they attract because if you advertise a crazy 80 why and nothing else, of course, you're going to attract a lot of short type people who just want to make a quick profit. If your product is advertised, it is not clearly explained. People are not going to understand the project. And again, you attract investors who might not understand what they're buying into. So it's really important to look at the community. Are they excited? Do they understand what they're buying? And are they going to be with this project? No matter regardless of the weather. So that's how I met the project. Yeah. No, there is. I think there was a ton of nuggets in there of gold that I think we're really really good. I I it's cool to when we've never talked before but we basically come to kind of the same conclusions on you know, what you're looking for in these projects and I really like what you said about if your marketing is towards high APY people like if that's your main source of marketing is hey, we have a 400,000 percent APY then not only is that probably not sustainable but the type of people that you're going to get into your project are not going to be people who are there for the long term, but that you're you're going to attract pump-and-dump type people. So you might have this big spike and you might even have a good project. You might have a good, you know use case and things like that, but your marketing has attracted the people who are looking for the 400,000 percent APY. And so, you know the first sign of trouble they're going to be bailing and then you're going to have a lot of trouble. So I think that's that's really good to make sure that your marketing as a project is focused on the type of investors that you actually want in your project. So I think that's really good. I like to what you said at the beginning about it's it's a zero sum game and the way that I've kind of started to see it is really all economy is zero sum game, but there's just a lot of different currencies. So like money is a currency entertainment is a currency health is a currency, you know food is a currency and so it's all about you know, what are people like a lot of people are willing. Oh, I'll trade my money for health, you know, and so that creates a business there is their currency is health and your currency is money and you can make an exchange there. The problem in DeFi often is that the only currency is money on both sides of the exchange. And so then it's kind of a weird interaction where you end up with not really anybody benefiting. So I like how you worded that where you have to kind of start seeing of what other currencies are going to be involved in this transaction so that if I'm after money we can trade in a way that's beneficial for both people and not just pay. I'm going to steal from this person their money. So very very cool. I really appreciate that. And then that's exactly what I'm looking for is team community and project. Those are the three things you need a team that's going to be able to pivot and roll with the punches of what the markets doing. You're going to need a community that follows that team into the different areas they go and then you need a project that is that is doing something. So very cool. Yeah, as people have questions, feel free to ask them. We have some people asking about Ford. Maybe I should ask you. What do you consider? What are your favorite projects right now? And I'm not going to give ask for you your top 10 or top five, but just in which ones are you most excited about right now? All right. So I will get rune and dag out of the way and continue with I mentioned Finovant. There is of course Horde. Love the team. Love what they're doing. I after I listened to their first AMA, I was so interested in learning more. They said we want to be rewarded by the success of our project. I still remember that quote. I was like, wow. Yes. I like the sound of these people out of finance which announced their launch just today. It's going to be on the 30th very excited for that project as well because they are tying into tread five. They're doing something unique. They're bringing they're still I like what you said about currencies. That is such a clean way to explain this. I love that. I'm going to use that in my mental in the way visualize things from now on. Thank you for that. Real free. So out of finance, they are bringing a different kind of currency the traditional type of currency and I'm actually doing a giveaway with them just now for one of their gimmel deities the NFTs with beautiful project Europa is a project. I'm excited about their currency is entertainment for sure. That's another team that works well together. They what I like to know that we love it when you know, when you watch Marvel Marvel movies individually, but Avengers is the best one because they all come together now project Europa is doing these tournaments with other projects and has such a dynamic voice in the space. So I really really am looking forward to what they become now. While you're thinking go ahead and think for a second. Some people are asking about that first one. And so I want to talk for a second about in a Vaughn. So I actually have an AMA with in a Vaughn that I've had recorded for quite a while, but I have not released it yet. And one of the reasons is their biofi is technically not available in the US at this time. And so it's kind of a bummer for for me. But Finnevant is looking to lead the way in biometrics on the blockchain. So if you've never checked out Finnevant, I think this is probably going to be a big big big deal here upcoming, but they're basically there, you know, how they're they're wanting to take all this biometric stuff's like your eye print and your thumbprint and your facial recognition and all these things that we don't really want centralized companies to have like we don't want Google to have our eye print, right? Like no, you know, I don't really care that much about security, but I don't even want that. So they're looking to take all this biometric stuff and put it on the blockchain. So there's a lot of things that they're looking to do. So like they have a password manager that is going to be just bio whether it be I print with your computer or something like that. They have a blockchain phone. They're looking to do they're looking at like, you know voter ID, you know voting is one problem that we you know, how do you ID yourself and things like that will biometrics would be a good way to make sure there's not voter fraud. So they have a lot of stuff going on. So anyway, some people were asking about that. Someone said was the first one she mentioned Cinnabon and no it was not a Cinnabon is something else. But yeah Finnevant and I'll have an AMA with them also. So and then yet Aleph Finance. I like them too. They're doing a wallet that is supposed to be able to bring all your d5 projects into one place and show you and I need that very very badly. If you've ever seen my I'll just show you real quick. My port my spreadsheet that I use to keep track of everything and eventually I gave up on like keeping track of most things. So it's just a project in the amount I put into it. So yes excited for that. And then he at Project Europa was the third one that she mentioned. So yeah, and I'm excited for them also and I actually have an AMA with them that we're going to be doing next week also. So are there any others? I know Horde is one that you really like and they're doing a unique thing with their where basically when the price gets down to a certain point they buy back to keep it in this range and if it gets up to a certain point, they don't want it mooning. They sell it and keep that price down and then over time they raise their they raise the bracket so that everybody's in a little bit more profit and I was you know skeptical about how this would work. But if you look at the chart, it's just for I mean, we're going on a month and a half now. I think of just this straight right in the bracket. They have a lower return which is good and they have you don't get lifetime rewards, but it tapers down to zero eventually eventually your plot runs out and then you don't get return anymore, which sounds kind of like a bummer but it's actually good for longevity. So yeah, those are those four would all be on my top projects as well. So I think we're very like minded in that. Well, let me let me go ahead and ask you again. If other people have different things they want to talk about feel free. Don't let me steal the show. I can talk to her in my DMs, you know, but I want to give an opportunity you guys what would be your best tips? I don't sleep. Well, I've not slept well for years and years and years and years and years and maybe it's this coffee that I'm drinking. Maybe it's my 4 p.m. Nap. I take every day. Maybe it's all the fast food that I eat. Maybe it's a combination of all these things. But if you were going to give me like five tips to sleeping better, what would you say that I would most benefit from? Okay, five tips to get into that. I will give you something better. I'll give you that Holy Trinity. It's everything you need not just for sleep. It's for everything. Everything is boils down to how these three things communicate. You have your brain which you can say is the team you have your microbiome, which is some people call it the gut flora that is officially recognized as one of our organs. That is the community because you can change that and you can attract a different bacterial community and you have the immune system. Let's say that's the project that does things that your smart contract. So as a matter of fact, your your your sleep is affected by the communication between all these three. So if you eat something that causes you inflammation, your gut flora will actually tell your immune system to go to the brain and give you certain thoughts. Now these thoughts can influence how you sleep your gut flora also makes what's known as the muromyle peptide, which is the sleep molecule, which again regulates how you sleep your gut flora has their own circadian rhythm, which if it gets dysregulated they do funny things and dysregulate yours as well. So the easiest way is to fix your diet. That is the simplest thing people can do is just start eating in a certain way. That is that is the easiest thing that is most in our control what we choose to eat. Does that mean no more Taco Bell? Oh, no, you can eat all the Taco Bell you want. It depends. This is everyone has to experiment on themselves. Like if you see someone tell you oh, this is the rainbow diet and if you eat the carrot on Monday and and an aubergine on Tuesday, just stop listening. And you know, if anyone tells you paleo diet keto diet, no, none of that. It's not it's very simple eating is very simple and it's supposed to be simple. Otherwise we would die. So it's everyone knows what they should be eating. The reason why we don't is because we used to eating other stuff that we we liked at some point or we were in a certain environment and we got used to that. So your gut flora basically as you have like dominant bacterial colonies. So whatever you feed that thing grows. If you eat a lot of chocolates, you're going to encourage bacteria that feed on chocolate. So when you're hungry, they're going to ask for chocolate because that's what you read. If you start eating broccoli and make yourself eat broccoli consistently, you're going to be surprised but you're going to be craving that thing because your gut flora is now changed and it takes four to five days for the major changes to happen. So it's not that dramatic. The rest is psychological which brings me to the next step. So let's say the first step for better sleep was to eat what you're supposed to be eating consistently. The second one is your thoughts, right? So when you go to bed, be honest. Oh, what do you do right before bed? Crypto. You start with your phone. My computer. I'm usually on my computer right at night doing some last-minute things for crypto for the next day or something like that, which is fine, but then you need at least an hour to properly adjust because the blue light is that's why the sky is blue. It's that it gives you good morning molecules. The blue light tells you it's morning. Let's do things. So blue light glasses help or these a scam. They help now. What doesn't help is the fact that your mind is still there, right? Your mind is still engaged in the crypto blue light or no blue light you still your mind is still active. So you want your thoughts to you want to find a happy place before bed. This is something that you can create actually you must know about the mind Palace that memory technique just like a mind, but you can have a sleep Palace. You have a happy place that you know when you want to make yourself go to bed you spend five minutes in your sleep Palace. It can be your dream home. It can be something that makes you happy something that relaxes you or something that requires you to count not counting sheep necessarily but going through a process and slowly you'll find yourself drifting to sleep Gautam from India. He says he's currently watching this AMA right before going to bed. So Gautam you better take some time to chill a little bit before you go to sleep or else you'll have dreams about me and yeah, you won't sleep. Well, no, I definitely don't do well with either of those things. I haven't I don't have a good diet and I do not I don't wind down very well. So those are two things. What was it? So what would be your number three tip? Well one with three tips I can only do so many things, you know, okay my number three tip is start small just one change. So don't if you if you are committed to improving your diet, don't just go buy all the vegetables tomorrow and throw away all the Taco Bell. No, just be like, you know what today? I'm just going to skip the sauce like very simple very simple things that don't require a lot of resistance do them very gradual and don't feel like you're missing out or like you're letting go of something. This is I quit smoking and this kind of psychology helps with anything you look forward to the benefits this decision will bring you. So if you decide to give up Taco Bell, first of all, you don't give up Taco Bell. You read yourself of the Taco Bell and tomorrow morning. You're like, oh my God are my you pay attention. You're like, oh, I think I'm I have a lot more energy. I feel more active. I sleep better. You look forward to these things. So that would be my number next. Okay. No, that's good. Stevia Johnny says is this financial advice and I would say yes, I think you'll if you have more energy it will help in your finances. I think you'll make better decisions. You know when your projects down if I've noticed like if I don't have enough sleep or not feeling well and a projects down I get discouraged. I don't make as good of decisions as if you know, I was my full self. I might say so I like if you don't take time for your health today, you won't have health for your time tomorrow or something like that as some 50 statement like that. I like and then before we move on one funny story I have about Taco Bell that did make me question my diet decisions, but we were going through the drive-thru and I ordered some tacos. I love tacos and they told me that I couldn't get a taco because the meat hose was broken and that made me the the meat hose made me kind of like question my decisions that I was making. So yes, thank you for those tips. I think that's really good and we do have some questions from the community. Some of them are directed to me. Some are kind of directed to both of us. Are these projects that she mentioned considered defy to go along with your 10k blueprint for retiring? So just in case you haven't seen that video, I have to find the blueprint for retiring. So I kind of talk about these different like buckets of projects. They have kind of like these Degen projects that are pretty much a 50-50 shot. You're going to double your money or lose all your money. Then you have like these defy projects that are risky, but probably not like long-term plays. Then you have like a little bit less risky that are, you know, maybe getting you 8% a month that will be longer-term and then you have kind of like more blue chip stuff that will not get you huge returns, but they're kind of more long-term plays. So I would consider like Finavant to be a long-term play. Like I would see that as it's okay to funnel a lot of your money into that as a long-term play. Aleph and Project Europa and Horde. I would probably consider those until they've stood the test of time. For now, I would consider them in this defy bucket. Now if Horde does what it's doing for a year, it might start to move over to this yield nodes bucket of hey, this has been a long time where it's provided these results, but it is giving you know closer to this 25% a month type return. So yes, I would consider most of those as these defy projects and those are a really great way to generate wealth. So like it's going to be kind of hard for you to get enough money into like anchor protocol. You know, if you're putting in a hundred bucks a month, it's going to take you a long time to generate some wealth. But if you can get 26% a month like with Horde, then you can start to generate enough money from a little bit. We're now okay. I have you know, $25,000 that now I can start to put into these other projects that might start to actually generate some long-term wealth. So I don't know, Stake Queen. Do you have any thoughts on that or how do you think through like your long-term strategy as it goes along with this? Are we kind of on the same page or do you think about it totally different? No, we're very much on the same page. So I would hold most of my assets and something like DAG, Rune, things that do the test of time. Finavant, I also consider it a long-term play and it will become more and more in my less risky category as the project goes along. The fact that they already have their products developed is what separates it from projects like Europa, Horde, although it also just launched. The fact that the products are already there that the what they're doing is creating the ecosystem, but they already proved their technology separates them from Node projects that right now they have a very exciting roadmap. They have a great team, the community, but you need to see where it goes before you put all of your bags in it. So I would definitely put something substantial in it. If you can afford to. Oh, I just that's a power cut and it's okay. I think the universe said it's too much doxxing, but you can still hear me, right? Yes. Yep. You sound good. Does this happen a lot where you're at? No, so where I am right now is actually a hotel. So first time. Well, that is that is crazy timing and actually something just came to me as we were talking, but when we talk about DeFi decentralized finance, I think sometimes two people forget that traditional finance is also a zero-sum game like these financial games that we see playing out in DeFi. These have been played in traditional finance for hundreds of years. Like this is not something new with just trading options on things and just money going from here to here. I mean, this is what the banks have been doing with our money for hundreds of years. So the difference is now we get to be a part of it and we get to kind of see the craziness that's happening. So yeah, that's something I was I was just thinking about as we were talking about DeFi and the different economies. Let's get to a couple more user questions and maybe we won't go too long. I hope your power outage doesn't go doesn't go too long for you. But mobilizing goods that is someone who's in like a hundred projects. What would you say to people for balancing at all? And maybe this is a better question for State Queen because I do not do a good job of balancing at all. I just hired a like a collab manager because I was having too many and things were slipping through the cracks where I'm going to nice nice guy to where I just was like if anyone wanted to do a collab of any kind or give away I'd be like, oh, yeah, sure. And then I started to get kind of burned because I wasn't doing due diligence because I was just too trusting of people. So I actually hired just recently a manager to kind of help with my collabs, but State Queen have you how do you balance like your projects and your giveaways and your collabs? Do you have trouble with the management of all that? Well, here it depends on people who if you have a lot of money, right? If you have a lot of money, then it makes sense to be in a hundred projects because you can put a substantial amount in each and if some of them go big then that's great. But if you don't have enough a lot of capital to start with being spreading yourself out across a hundred projects is not really the best strategy. Now, what's better is to look at these 100 projects and start to trim down to saying, okay, maybe two of them provide the same service as we discussed. We're just shuffling money from each other. Do these projects provide real utility? Do they actually solve a real problem? Do they supply a demand? Otherwise just trim them down just get out like and if two projects provide the same service and they are competing there is value in keeping bags in a small bag each to see which one wins. But if one of them clearly has a bigger team better marketing, I would shift attention to that. So yeah, that would be my two cents on that. Yeah. No, I think that's helpful. And actually I've started to consolidate. I was in too many projects where I started to miss like I wouldn't pay my maintenance fee for Thor because I was in too many projects and just couldn't keep track of what was going on. So I've started some of my smaller bags that I don't believe in as much I've started to kind of sell those off to try and hey, we got to focus on these projects that I believe in more. So yeah, but it's definitely difficult Grant wants to know if I actually have read all these books and I would say I'm trying to see what all is back there. I would say I have read most of the books. I own. I'm actually backed off from books. I used to be an avid reader like I would read a book a day almost but I learned that I was getting more knowledge than I was actually applying to anything. So I ended up with just all this stuff in my head and but I wasn't doing any of it. So like these sleep things even that you know state Queen's been talking about it's like, oh, I've read a book and like know those things about my gut and you know, I should eat a different way and things like that. But then I wasn't doing anything with it. So I kind of started to just like all my reading was maybe not as useful as like maybe I should instead of just keep reading. Maybe I should spend more time doing some of the things that I was reading. So there's an Ecclesiastes in the Bible. It says devotion to books is endless. So I backed off books a little bit. I don't know. Are you a reader state Queen? I am I am a reader when I have time to read the book kind of reader. I think nowadays people just read articles on their phone and once in a while you find a really really good book and that that grips you because we read a lot as a generation. We actually do read a lot. It might not be physical books as often but I think if we are in the DeFi space, we're all readers because otherwise we wouldn't be able to function and understand these things. Yeah, very true. Yeah, and that's a really good point. You know in the crypto space, there's not very many books that would be useful to read maybe some like traditional finance books might be helpful but like crypto is so changing that you know, you're not going to find oh, no, I think I lost her. Oh, no, that's too bad. Well, maybe we should be kind of wrapping up here. We'll see if she comes back. But yeah, let me see. Let me see if there's a few other questions that I can talk about while we're waiting to see if you can come back. You see development going more towards recreational traditional services in the crypto space or into bridges connecting crypto finance with traditional services. So what I see we're at in the crypto space right now is we're kind of ending up with the same group of people that are getting into all the same projects. We don't have a lot of new investors. And one of the ways I know that is from if you go look at like the market the market. I'm going to say the market crap, which might be a good way to say it, but the market cap of all of crypto is 1.8 trillion and six months ago. It was 2.8 trillion. So we've actually we probably doubled the amount of projects that there are in crypto and we've cut almost in half the amount of market cap there is in crypto. So what we end up with is all these the same people just going into the same projects and then what we really need to do and what I want to do with my channel is start bridging new people into crypto. So in one of the places we're going to need to do that is in the crypto to Fiat bridges like getting your money from Fiat into crypto is difficult right now. Like finance is difficult crypto.com is difficult. So that's that's where we need to go. We need to get new money into the space. We need to get traditional finance into the space. So we're going to need some regulation. I I'm not a person who thinks there should be no regulation, but there should be some regulation. And let me just check to see if she maybe she lost all her internet or something like that. If she doesn't come back here in the next five or ten minutes, then I'll just answer some questions and then we'll we'll hop off for the day. This was a really good talk is great meeting her and I like just meeting people too because then you know, we have a bridge for future collaborations or whatever. But that's where that's my take on the space right now is we're going to need and for those of you who are frustrated in the space right now in the DeFi space. I want you to just take heart that I believe we've been in a bear market, you know, the bear market that everyone's been saying, oh, what's going to happen when we're in a bear market crypto is going to fall apart. And I think we've been in that bear market since November 7th. Okay, so we're on about five almost six months of bear market. And so if you're still hanging out, if your net worth isn't, you know, zero after six months in the bear market, then I think that you're in good long-term shape. So I don't know take a hope you can take some comfort with that. Does anybody else have any questions that they want to ask me before I hop off? I'm not heard back from State Queen. So I think maybe she lost that's crazy. She had a power outage while we were going this lights all off. But yeah, she's she's super fun. If you haven't if you're not following her on Twitter, I definitely think you should she's one of the more unique takes and you know, there's not a lot of women in the crypto space for one reason or another. It's just kind of a I don't know why that is exactly. Well, I have theories but maybe we'll talk about that another time. I'm not sure I want to get into that too much. Anybody else have any questions? Curious to know State Queen's perspective on entering projects and taking profits. Yeah, unfortunately, we won't get that from her again. I'm kind of at a spot right now where I'm just I'm moving a lot of things. Honestly, I've lost a lot of faith in well specifically these Degen projects play to earn games and things like that. Anything that gives over 1% a day. I'm pretty much making sure I take a lot of profit and then moving it this way. I'm putting a lot into yield nodes. But you know as more people get into yield nodes, I get a little concerned about the future of that. It felt safer when there were fewer people in it. Okay. State Queen says managed to connect phone to a potato in order to send this. I'm going to tell her no worries and I'll say goodbye for her. Kind of wrapping up. Yeah, it's a it was really fun talking and connecting with her James. Are you a fan of Luna? Yes, I do like Luna a lot. So I have a little bit of a bag in Luna one thing that we're learning about some of these projects. Oh wait, she might be back. You might be back. She said she connected her phone to a potato. So we'll see if that if that helps but we were just talking about Luna. I was just answering some questions that people had but one thing we're seeing about some of these projects is they're not as decentralized as we thought they were so like Phantom, you know, I would consider Phantom decentralized but the founder of Phantom left Andre and Phantom is below a dollar now. Okay, and so I we just have to be careful. In this space like some Luna is one of those where Ducroix I guess I don't know how to pronounce his name. I always just read it but some of these projects start to revolve around one person. That's one thing I like about Bitcoin is it's not revolving around anyone. So there's not one central figure that is making it kind of, you know, run and all that. So, let's see. What do you put your faith in James? Do you mind sharing what causes people you look up to the most? Yeah, so honestly, I'm a I believe in Jesus and that's kind of what founds and like forms a lot of what I do even what I do in crypto. I found that I just want to help people. I believe that in the Bible. It says the greatest two commandments love the Lord your God with all your heart soul and mind and the second greatest commandment is like this, which is love your neighbor as yourself. So those two things aren't disconnected. I think what God wants for me is help people and so I want to help people one of those ways is if they don't like their eight to five job. I want to help them get out of that. So that's really why I started my channel and like what I'm looking for to do so stay Queen maybe as we wrap up here. We had a question just about your thoughts on entering projects and taking profits. You want to talk through those things and then we'll kind of say farewell. Yes. I'm glad that that potato was working so entering projects, of course, it pays to be early in a lot of projects today, which in a way is not necessarily a good thing because more often than not that relies on fun sonomics. So if a project is solid it shouldn't matter when you get in it just matters that you're in. Now in terms of taking profits for a project to be sustainable right now in defy it relies on a community that takes profits from time to time what they like take what you need take definitely take profits definitely definitely definitely take profits. But if you really want to be in the project long-term take either regular small profits or a chunk once in a while be sensible about it because what we don't realize is that this is this this is space. We all create together and the values that we encourage in this space are going to affect us after all it's like when you throw litter down the street. It's your planet. You're going to keep inhabiting that same planet. So do you want to still live on that planet in 20 years? Do you want to enjoy it? Do you want to breathe the air same same as with this space with taking profits with encouraging certain behaviors manifesting certain behaviors and values. So that's how I would think about it. Okay. Yeah. No, I totally totally agree with that and I so I used to try and take profits based on the price of the project if it was high I take profit if it was low I'd compound but now what I do I dollar-cost average pretty much everything so if I want in on a project if I want to put $5,000 into a project I will dollar-cost average maybe 500 bucks over 10 days or something like that and then when I want to take profits like if I want fully out of a project I will dollar-cost average out just because then you cut down too many times I've gotten in at all-time highs and then gotten out at all-time lows and I found I you know, I take profits at the low in one project to get into the high of another project and just was losing a lot of money that way. So I'm a big fan of dollar-cost averaging it takes the emotion out of it and I found I'm just not good at timing things very well at all. So I'm a big fan of dollar-cost average and I've mentioned on other videos I dollar-cost average I'd actually just went up to a thousand dollars a day into DAG so every day I have a bot on KuCoin that just every day put the thousand dollars into DAG and I'm just going to do that while I have the thousand dollars to spare I'm just going to keep doing that and just keep growing that for long-term so that's how I kind of think about it and maybe last well this is a question for me what do you think do you think drip is that a good entry point and I do so I think that drip is for me drip is one of the forefront projects in that DeFi bucket okay so again when we're looking at this DeFi bucket drip I even have it there I think if drip fails then I don't imagine much in this bucket will stick around that's just my take I think it has the best tokenomics of about anything that's in here so that's my take we'll stay clean as we go ahead and part ways it was great to meet you I appreciate you hopping in here maybe if you had one last maybe the the biggest thing biggest that's too much pressure on you what's one thing that you've learned from crypto in the last month that you feel like would be really beneficial for our audience here as we part for the day hello I just electricity came back there you go yeah one thing I learned in the space hmm I I think I might just just by the nature of the questions that have been asked and what we discussed I will end on some medical financial advice if I may this is actual medical financial advice if you eat it doesn't have to be breakfast but the first meal of the day make sure that it's mostly protein like the carbs to protein ratio right is in favor of the protein and if it's carbs it's complex carbs carbs and you'll notice that you'll make better financial decisions throughout the day it's this is actual research done simple carbs for breakfast for for very poor business decisions and financial decisions so you so you would add my lucky charms that I eat for breakfast would maybe not be ideal maybe not maybe not but one thing that I I learned in this space and in in science as well is that anyone can learn anything and it's easier everything is easier than it seems what I would say is don't let yourself get intimidated you can do it you can understand if I can do it and I had no financial education throughout my life so yeah that would be that would be what I would and what they would end on I think that's I think that's really good so well you've changed my life because I was probably gonna have Taco Bell for lunch and now I'm gonna have something else so I think yeah that's you've changed my life so I it's great to have met you here face to face it's great to have talked with you thanks for coming on to my community I'd love to just kind of stay connected over the years and yet there's any for anything I can do to help you or help you as you you know grow as an influence or anything like that I'm happy to do that so thanks for hopping on today thanks so much for having me appreciate you and I've enjoyed this so much and I enjoy your material in general and I look forward to your yes yeah I'll try to get that released you reminded me so I put it on my list like make sure to get that AMA out so for sure in audience I want to thank you guys again we could not do what we do there's no if there was no one to influence then we could not be influencers so we appreciate you guys and appreciate you watching and taking some time out of your day for us as well so thank you everybody I have a great rest of your day or have a great rest of your night depending on where you're at in the world have a good night sleep wear your blue light glasses rest your mind before you go to bed and everybody be healthy so thank you everyone