Hey ,
I will be talking less about Copy and business in this issue of WYODC Weekly.
Because thereās something important I feel you should at least learn about if you really want to write your own damn check.
And thatās the power of Cryptocurrencies.
No. I donāt mean you should go out of your way to buy Bitcoin or Ethereum right now.
In fact, I donāt exactly know what trend we are in now.
It can either go all the way up and we see a massive breakout to the moonā¦
Right now, it seems to be breaking outā¦ but weāll see.
Or we may see a short-term correctionā¦
The reason I took the time to write about Crypto to you today is because I believe itās worth your attention.
This year, governments all around the world have been cracking down on Cryptocurrencies.
Whether is it in the USA, China or even Singaporeā¦
If governments all around the world are paying attention to thatā¦ then I think itās worth our time to figure out how Crypto works.
So weāre able to leverage the upcoming wave of exponential technologies brought by Cryptocurrencies (DeFis, NFTs).
I believe itās gonna help a lot of people retire. (Provided you know what to do to take advantage of this trend.)
Btw, Kenneth bought Ether at $1000 at the start of this year and today it has already 4Xed.
Personally, I bought Ether at ridiculous prices 4 years ago.
Today, I only regret not buying more because I didnāt really have a solid understanding of what that was back then.
I donāt want to go down the rabbit hole of explaining to you everything about how Crypto works and everything because it can get really long and itās really difficult to share in an email.
Butā¦ Iām gonna give you my thesisā¦ and a few resources about how you can start learning about Crypto so as to cut short your learning curve.
My Thesis on Crypto: (On why you should care)
In a nutshell, I feel that there are massive opportunities in Crypto because of the Fourth Turning.
The basic idea is we, as citizens have grown to be so skeptical of public institutions that the government loses control.
While weāre watching The Fourth Turning play out in real-time, one of the biggest concerns people have is with the current financial system (with banksā¦ mutual funds, etc).
Think about itā¦
The average American employee (letās say they know jack about business or investing)…
They take on debt to go to collegeā¦
Letās say if they take Gary Genslerās (the chairman of the U.S. Securities and Exchange Commission) advice to save $5 a week and make 8% a year on compounded interestā¦
ā¦ Btw I donāt think making 8% a year on your money is possible unless you invest yourself.
Most mutual funds have way lower performanceā¦
Not to mention most banks donāt offer annual percentage yields of more than 1.5%.
This already means that half the advice isnāt possible for the average Joe out there.
Letās say they get married and they buy a homeā¦
Theyāll be stuck having to pay off their college debt or mortgageā¦
Moreover, itās highly unlikely that their salaries will rise unless theyāre in the right fieldā¦
This meansā¦
Theyāll be stuck with stagnating pay + higher expenses.
And if you factor in the inflation rateā¦ this will mean that their savings will slowly and steadily erode away. (Inflation is a form of hidden tax btwā¦)
The crypto community believes that banks have all this power because people are accustomed to putting their money in there and they take this money to make it work for themselves.
To put it bluntly, youāre making the bank rich if youāre saving your money there.
I think people have been alright with this all this while because of how fiat money operates.
It doesnāt make sense to store all your fiat money at home.
What if you get robbed or your house got burgled?
And so banks came into power in the late 20th century because of the general need for everyone to store money. (Of course, thatās not the only utility but Iām gonna make things simple here.)
From the crypto communityās perspective, banks have made themselves rich at the expense of the people.
The average Joe is certainly getting the shorter end of the stick.
Now Iām not exactly sure if Crypto has a good solution for thisā¦ weāre still in the early stages of development and to be fair, there are a lot of problems.
But if this industry is sucking in all the worldās greatest talent – from academia to software to science.
Then we should pay attention to it.
HUGE Disclaimer:
I think you should be looking at it from a long-term investment perspectiveā¦ and not from a short-term MMC (Make-Money-with-Crypto) view.
I canāt emphasize this enough.
Donāt be greedy for short term gains.
Iām looking at Crypto/DeFi from a long-term view and I think that its applications can be insanely useful and revolutionary.
That said, I wanna share 2 pieces of resources Iām currently using to learn about Crypto.
The first is Bankless.
Bankless is a really comprehensive guide to Crypto, DeFi, NFT laid out in an easy-to-read newsletter format.
I highly recommend this because itās super easy to follow (unlike watching a Stanfordās or Berkeleyās lecture about Crypto which is 1 or 2 hours long that goes deep into the technicals).
What I like about Bankless is that it really gives you the fundamentals and principles of Crypto in a very clear, digestible manner.
You really need to know why it exists if not you wouldnāt buy it.
Check out their free content.
You can buy their premium membership if you like the podcast and you find them useful.
The second is Real Vision Crypto.
This is a series of free interviews on Crypto and its technologies (This is recommended if you would like to learn about the tech behind how crypto works.)
The interviews are free and itās even available on Youtube for everyone to binge-watch.
So yeah, I hope you got some value out of todayās issue and you can see some utility in Crypto.
Despite what some politicians are sayingā¦ I think Crypto is here to stay and it will only grow bigger and badder from now on.
Cheers,
Zachary Tan
P.S: Last week, Mark Zuckerberg announced that he was rebranding Facebook to embrace the Metaverse.
Btw, the Metaverse is the concept of an immersive virtual universe (think Club Penguin or Habbo Hotelā¦ but in a 3D format.)
The most fascinating thing about Crypto is that itās really huge.
From the Metaverse to DeFi, gaming and NFTsā¦ you name itā¦
Thereās just so many applications.
Applications which are growing in utility and arenāt going away.
This is a great space to watch especially if you want to create more wealth in the next 20 years.
Btw, you also don’t need a lot of money to start getting into Crypto.
If you have the right skills (Copywriting/Media Buying), it’s possible to get a cut of the pie too.
One simple thing you can do starting from now is to start looking for clients in the Crypto space.
And if you want to start learning about Paid Media, it’s probably a good idea for you to check out Justin Brooke’s Adskills program.
If youāre a business owner, affiliate, or freelancer this deal is a no-brainer. You spend more on pizza and tacos each month than what AdSkills costs.