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by Aaron
Welcome back everybody to altcoin daily, my name is Aaron. The reason why you subscribe to this channel is because, on a daily basis, we break down everything going on in the cryptocurrency space. We make the whole market easy to understand. We show you things that you would not normally know about unless you subscribe to this channel and in this video specifically, what i want to do is go over some of the top projects in this space. Tell you how you rank, depending on how much of the respective coin that you hold show you.
You know how you rank, how much of this cryptocurrency you need to have significant wealth, and this is what we're doing today on this channel. Now we're not going to get to every single cryptocurrency. So if there's a coin that you want us to cover in the future, comment that coin below i'll be looking in the comments and i'll make another video in the future with the top coins. In the comments now before we go over this before, i show you this, it has come to my attention that many people in the cryptocurrency space are confused and many people are unable not only to evaluate these projects, but more than that many people, especially new people, Don'T even understand the basics, don't even understand how bitcoin is different than ethereum, which is different to chain link which is different to cardano, which is different to dogecoin. Most people just see the coin, see the ticker see the pretty colors and you know buy it because they think it's all the same thing.
My friends, if you don't understand what you're buying you're not going to do very well in this space, so before we get to the individual projects, let's talk about how people are confused in this space and michael saylor is going to articulate how there are basically four Different types of cryptocurrencies and how he thinks about them and how most people should think about them, watch this and then we'll get into chain link, ethereum, cardano and more. Let me give you a a model, a four-quadrant magic, quadrant model. I think that i'll start with the observation, cryptocurrencies mostly aren't currencies at all. Cryptocurrency is a misnomer and it creates massive confusion, and i think people in the space are confused. I think people out of the space are confused and i think a lot of people that speculate in it.
They speculate just in these things, without without having a long-term thesis about what they're doing. Here'S here's the way i would segment the space. Four quadrants you have. Digital property. Bitcoin is the king of digital property.
It'S it's um, it's optimized for integrity and durability over long periods of time. The idea is, i want to take a million dollars, buy bitcoin and i want to hold it a hundred years. Maybe a thousand years imagine owning a city block in london. Your family owns it 300 years ago. When would you ever sell it?
Never do you want to sell it? No, how are you going to live you're going to generate yield on it through rent by lending it out to someone else to build a building on or you're, going to finance it and you're going to borrow against it? How long can you do that you can do that forever if you're actually a smart landlord, it's not a currency. If you owned 10 city blocks in london - and i think, like the duke of wales, owns, you know parts of london, you probably know the history, a lot of the land doesn't trade hands. If you own 10 city blocks in new york city, your family might keep them for 300 years.
If the fed keeps printing 10 more money a year, you can expect your land will go up by 10 a year, because it's scarce, it's desirable. You can continually refinance it. You know when you have a billion dollars of it. It goes up by 10 percent this year and then you have 1.1 billion and you borrow 50 million at 3 interest and you have no capital gains tax.
You have no income tax. It'S a simple business: that's digital property, digital currencies are tether, die circle, uh dm will be a digital currency, a cbdc, that's a digital asset, that's seeking to be a stable currency and it's a medium of exchange. If you want to, if you want a high speed, decentralized medium of exchange, where you can move 50 million dollars from zimbabwe to emirates on saturday afternoon, outside the fed wire outside of ach outside the banking system, if you want to give everybody in el salvador 37 On their mobile phone dollars, you got to do it with a digital currency, i mean so. This is not a subtle thing. I mean 8 billion people need a currency, the currency is the medium of exchange.
The property is the store of value. Now. The third quad quadrant is um is a digital platform. Ethereum it's a platform. They want to create a platform where you can create applications like a decentralized exchange.
An insurance company, nfts, uh decentralized applications is, is their mission, but they are a platform for it. When you buy uh, when you buy eth you're buying an asset token, a digital asset that gives you a share in that digital platform and then the fourth quadrant is digital or decentralized applications. Uniswap right, they're, trying to replace nasdaq or coinbase or binance smart chain, wants to replace binance or centralized exchange. So here that i mean looking at the picture behind you sven, i give your family a billion dollars, and i say you can either buy a billion dollars of land in london or you can buy a billion dollars worth of buildings in london or you can buy A billion dollars worth of the british pound or you can buy a billion dollars worth of companies in those buildings. Okay, the british pound is the digital currency.
The land is the digital property. The the buildings are the digital platform. The companies are the digital applications. You understand the upside, the downside and the risk profiles of each of those four see. The land will probably be here for 500 years right absolutely right.
The building's probably got a useful life of 50 years to 100 years max hey in the background there. There are some buildings that are around five six seven hundred years. Yes, maybe some yeah, yeah and then they'll be like church, for example yeah. So it might by some might last hundreds of years. Yes and then they'll be like the sum where they'll take it down, because it's no longer competitive how about the companies name?
A company in london - that's been around for a hundred years. Oh either, most of them are gone right. I mean that's, that's the cycle of life, so that's the best way to understand the crypto economy. Right, the digital currencies have to be compliant and compatible. They have regulatory risk, there's not a lot of upside to owning those by the way, but you need them as a medium of exchange.
If you want to trade in and out of them, you got to have them to lubricate uh trading and defy, and you also need them to buy coffee in el salvador. They want the digital dollar to buy stuff with, but they want the digital asset, the bitcoin as a long-term store of value, think savings account, checking account or think you know think in terms of working capital that i need in the next 12 months versus corporate treasury. That i need to hold 100 years and by the way, this video is not financial advice, i'm not a financial advisor. This video is just opinion and perspective information from a person who has been in the space for years and follows the market every day. That being said, let's get into it bitcoin is the market mover.
I believe that bitcoin kind of like how michael saylor thinks i believe, bitcoin has decades of potential ahead of it, since it is specialized to be the most decentralized and permissionless money for the world. Digital gold, 2.0, so bitcoin and satoshi holders. How do you rank if you own 0.1 bitcoin you're a shrimp if you own 0.
5, bitcoin you're, an oyster one, bitcoin you're, a jellyfish one to ten you're, a piranha? Do we have any dolphins in the audience? Do we have any sharks? I happen to know for a fact that we have both shrimp and whales who watch this channel in bitcoin and other assets and before we move forward. Let me just point out this: it is kind of common knowledge in the cryptocurrency bitcoin space that, if you own just 0 28 bitcoin you're statistically guaranteed to be in the richest 1 of the world in bitcoin terms, and if you want more information on that, how exactly is that possible watch this video that i put out 10 months ago?
I go over it within the whole video. So it's no surprise how we continue to see people buy in to bitcoin both buy into the asset and buy into the value prop and narrative another one nfl player, saquon barkley, to take 100 of his endorsement money and put it into bitcoin moving forward. This is the face of a winner. Moving on to ethereum, there is a reason we're seeing such notable investors like mark cuban, like raul, paul talk about how big decentralized finance is going to be in the future, and since decentralized finance is primarily on ethereum. Today, they're targeting an ethereum price of 20 000 per ethereum, so how much ethereum do you need to become a cryptocurrency millionaire?
Well, let's be realistic if ethereum goes to just half of what the big investors are predicting 10k. You only need 100 ethereum if ethereum does hit 20k within the next two years like mark cuban and raul paul are predicting. You just need 50 If ethereum goes to 40k, you need 25 and if ethereum goes to 50k, you only need 20 ethereum to be a millionaire and by the way i know 50 came up, probably seems like a big number and surely it is. I don't think we're going to get anywhere close this cycle, but think long term, like michael saylor, was saying and by the way tyler winklevoss thinks that one ethereum will hit 75 000 per coin, and if you want more information on that watch, this video that we Put out six months ago, finally, on ethereum, if you look into it, retail is scared right now, there's a lot of fear, uncertainty and doubt in the market, but this is not scaring away the institutions in the whales ethereum's top 10 largest whale addresses now hold their Largest supply of ethereum since may of 2017, look at this they're buying my friends they're buying and as long as ethereum is touted as the next big thing. As long as people see value and ethereum cardano and things like cardano are going to continue to do well.
Cardano demand rises among retail and institutional investors well, cardano holders. How do you rank if you have 100 cardano your shrimp? If you have 1 000 cardano you're a starfish, if you have 50 000 you're a piranha now i'm nowhere near i own cardano, but i'm nowhere near these higher numbers. I happen to know: we have some cardano octopi shark and whale in our audience. So let me know your thoughts on cardano in the comments below moving forward.
Let'S talk about chain link: why is it that citibank, citigroup is saying that chain link may gain prominence over bitcoin? Why are they so bullish on chain link? First of all, i think they should watch this michael saylor interview, but beyond that, what is chain link and then we'll get into? How do you rank so if you're unfamiliar chain link is a cryptocurrency aiming to incentivize a global network of computers to provide reliable, real-world data to smart contracts? Smart contracts are in all of d5, all of what's happening on ethereum smart contracts.
Basically anything any kind of program running on top of blockchains. Now the problem is most smart. Contracts need to rely on some kind of external data source, which is primarily centralized to properly execute their terms. That'S a problem chain link has addressed the oracle problem chain. Link has create was created to address this issue by incentivizing data providers called oracles to act as a bridge between blockchain, smart contracts and external data sources for every oracle.
Within the chain link network, it is incentivized to provide accurate data since a reputation score is assigned to each further when nodes do follow the software's rules and provide useful data, they are rewarded in chain link, cryptocurrency link. This stops people from just spamming. The network since link holds a value, and that being said, chain link is on a major dip right now, my friends: will it rise past all-time highs? You know we'll see in the future, but i happen to know we do have some people bullish on chain link. So how do you rank one chain link?
Does anybody just hold one you shrimp 100 you're, a crab 1 000 you're getting into dolphin octopus territory and 10 000? You are a chain link whale now, like i said, we're not going to be able to get every single cryptocurrency in today's video. So comment we'll make another video in the future we'll make maybe elrond or you know. Let me know what you think we should talk about, but you know these projects that we went over today keep in mind just because a cryptocurrency asset is in the top 20. Today does not mean it's a good investment dogecoin down 36 over the last month, and you know there are better projects than others like.
I said you need to understand the differences between property and platforms and dapps soul. This is a uh. You know another platform, their ecosystem is growing, but you know this video is getting kinda long. We will continue this conversation in a video later this week. Let me know what you think of this in the comments below and that being said i'll see you tomorrow.
My friends
