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Space Summary
In a Twitter Space session, experts discussed the challenges of moving from traditional finance to blockchain. Key focus areas included designing user-friendly platforms, achieving financial backing without traditional marketing, and the significance of community engagement in crypto projects. Notable achievements like raising $4 million underscore the role of community support. Future plans revolve around DeFi expansion, emphasizing developer collaboration and the benefits of decentralization. The dialogue provided a deep dive into the dynamic blockchain and financial innovation landscape.
Questions
Q: What challenges are faced when moving from traditional finance to blockchain?
A: Ensuring simplicity, security, and extensive user options is a significant challenge.
Q: How can platforms attract users without traditional marketing?
A: Platforms can attract users through community engagement and word-of-mouth.
Q: What defines a successful crypto platform?
A: A successful crypto platform has intuitive design, robust security, and an engaged user community.
Q: What role does community interaction play in crypto projects?
A: Community interaction is essential for feedback, trust-building, and fostering adoption.
Q: Why is developer collaboration important?
A: Developer collaboration is crucial for creating user-friendly and secure platforms.
Q: Can financial backing be achieved without traditional marketing?
A: Financial backing can be secured through community efforts and demonstrating genuine value.
Q: What are the DeFi expansion plans?
A: DeFi plans involve expanding platform capabilities and offering more options to users.
Q: How do users benefit from decentralization?
A: Decentralization offers users more control and security over financial transactions.
Q: What are some key achievements in the projects discussed?
A: Key achievements include raising $4 million without traditional marketing and building user-friendly platforms.
Q: What is the biggest challenge in creating blockchain platforms?
A: The biggest challenge lies in balancing simplicity, security, and meeting diverse user needs.
Highlights
Time: 00:05:36
Insights into Ethereum Ecosystem
Time: 00:15:24
Triumphs and Hurdles of Token Launch
Time: 00:27:11
Community Engagement Over Marketing
Time: 00:35:00
Challenges of User-Friendly Design in Blockchain
Time: 00:41:22
Future Vision of DeFi Platforms
Time: 00:53:10
$4 Million Raised Without Marketing
Time: 01:02:34
Importance of Developer Collaboration
Time: 01:10:18
Goal of Unlimited User Choice
Time: 01:15:50
Struggles in Transitioning to Blockchain
Time: 01:20:24
Summarizing Key Takeaways and Future Directions
Key Takeaways
- Transitioning to blockchain from traditional finance opens new opportunities.
- Platform security and simplicity require meticulous planning.
- Attaining significant financial backing without traditional marketing is feasible.
- Community involvement is pivotal for the success of crypto projects.
- The future of blockchain is in providing diverse user choices and opportunities.
- Collaboration with developers is vital for platform functionality.
- Designing user-friendly blockchain platforms poses a significant challenge.
- Decentralized tokens offer real-life applications and benefits.
- Network effects drive crypto adoption powerfully.
- Future DeFi plans include expansion and enhancements.
Behind the Mic
use I want the full 50 x. And next thing that project goes, you know, way down, again you're going, okay, why didn't I take some profit? Whereas if you take, you know, if it does a ten x, what's the harm in taking twice what you put in out? You're in profit now no matter what happens, but you still got 80% in the game if it does happen to go really well. And you know, that's definitely one of the biggest mistakes investors make in all walks of life where they don't take profit as they go. That's great. Thanks very much. Thank you. Thanks for being here, Bob. All right, let's go with Cyril and then Simba. Cyril, go ahead and ask your question. We can hear you, go ahead. All right, my question, I want to ask about the various options you have as a WoW member. So I can see there is option for active member, passive member and combined member. So I want to know what are the various rewards options for these various options. Yeah. Thank you. So that all that refers to is the people that buy an NFT. There's, there's action required in that scenario because if you buy NFT, then the concept of buying the NFT is to hear about early stage crypto projects and to do that obviously when we announce in our telegram group, okay, we're going to talk about this new project, well then obviously as an NFT holder, if you want to know about it, you're going to have to come on that call, hear the call. Here are all the information, ask your questions, hear the research. Here are the potential risks, etcetera. Then if you decide after doing your own research that you want to invest in it, then you need to see how to invest in it, actually do that and then hold whatever you're talking, your NFT, whatever it might be. So there's action required. It's an active site on the other side. You could choose just to go out, buy x amount of our token, stake it and sit there pretty and not do anything. You can just let it happen because all going well, the value of the token will go up in value. But also anytime we sell projects directly for our token holders or income is made, If there's any redistribution of the entry token holders, you will receive those rewards by staking a token and just holding it. So, yeah, the passive is you can just buy the token, sit there and all going well, the token value will increase. And every time we generate income, if we do something along the lines of distributing tokens to our holders, then you will be part of that pot as well, So you've got the active and then you've got the passive. So people like the passive because they don't have to do anything for it. They just hold it and their value just keeps increasing and anything that we're doing, if we're distributing anything again, they're going to get that. Then you've got the active which most of our insiders prefer because it means that you're going to hear about very, very early stage projects with very small market caps and it means you can get involved at an early stage which that's where you're going to see the most, you know, the biggest gains will come from the early stage stuff. So people will hear about them, do their own research, make their own decisions if they want to get involved and usually they're getting involved when it's very, very early and that's where obviously a lot of value can be made. Thank you for that elaboration for those two various options providing value. Thank you. Thanks, Cyril. Send it over to Simba. Simba, go ahead. Thanks. I appreciate the platform. My question is a two part question, When did you said you want to take profit? Are you referring to the small cap coins or you referring to like bitcoin when you talk about the profit? And the second part is let's say something like bitcoin, how long do you want to hold the actual full bitcoin before you say you should take profit? Thank you. Sure. So long term projects, I mean, there's filtering, right? When you do filtering, that's the way there. Um, you know, Bitcoin itself and Ethereum. They're two projects that I hold from from very, very early on and I've held on to them now and obviously both these projects have done incredibly well. Good Bitcoin in particular. It's something that's going to be around forever. I don't think it's going to go away. It's got some real utility out there, as everybody knows it's a store of value digital gold. So I believe Bitcoin has got a great longterm prospect. But when you talk about small cap projects, basically you're buying into smaller projects or smaller market caps that potentially could be the same as that buy bitcoin, same risk, but obviously risk-and-reward then changes. So whereas if you just own bitcoin, you just hold onto bitcoin forever. If you hold onto a low cap altcoin, if that low cap altcoin goes up to ten times, twenty times, fifty times. At some stage, regardless of where you think it's going to go, you need to take profit out because the whole market itself is fluctuating. So if bitcoin and everything will go up and altcoins go rocket, new projects come out, new value and all that. But at some stage everything corrects, as bitcoin goes up to sixty, it comes back down to twenty, twenty five, and you'll see that happen, that's the market fluctuation. So if you're holding small caps, which everybody likes to hold them, you can't hold them forever either. They will fluctuate. So my strategy usually is when you're holding small cap projects, which have the higher, you know, the higher range ten, twenty, thirty, fifty x, a hundred x some of these projects go. So if you've got a small market cap project, you're holding and it does a 50x or 100x, it's just about on the edge of where you think about it. But when it does that fifty x, you need to take some profit from there. That's what we have seen. So that's the strategy. With bigger projects like bitcoin and ethereum obviously you want to hold them for the long term because the value in them is anyone saying they're not doing to zero. These other projects have to take some profit knowing that cryptocurrency, anything can happen with these long caps. Alright, thank you. I appreciate I could use your platform to ask my question. Thank you very much. Yeah, I would just add to, when you hear about big projects like a Pepe or others, yeah, people are more prone to hold these projects from quite some time. On that note, thank you. Right around ten minutes will come back, fingers crossed. I know that blake has some awesome questions from our discord channel around wealth and small cap projects. We'll come back and talk more on that note. Thank you for asking great questions. Thank you, Simba, very much. So, Umar, I would like to thank you for this, for joining in and then we will go back to blake for the final rapid fire questions. Hey, Umar, appreciate your time, appreciate your answering all the questions, my friend. Absolute pleasure. Thank you so much. Thank you, blake. So yeah, we have some questions, some rapid fire questions from our channel, I appreciate you going to be taking this time. So without further ado, let me give you your first question. If you could go back in time when you first got into cryptocurrency, what one piece of advice you'd give to your past self knowing what you know today. It's quite simple, it is be patient, most people that they jump out of projects, bounce around all the time. If you just focus on a few good projects, understanding the utility which they have and have patience, that's all you need in crypto and you'll do very well. Very true. Well thank you. And the next question, what factor has the biggest potential to disrupt the crypto market as you look into the future as we go forward from now, next five to ten years, short, medium time, what would be the biggest market disruptor? Um, I think what's going to disrupt the market globally? is that the global macro environment economic policies governments adapting better economic policies globally for cryptocurrencies. So, once normal people from your mainstream populations, are able to access and, you know, buy their cryptos locally out there in their daily use, that will be the biggest disruptor. You can't hold cryptocurrencies by the government policies. So, they will be driving the mainstream adoption of cryptocurrencies to better embrace them faster. Awesome, cool. Umar, this has been an awesome fire side. One last question for you, with this so very rapid fire, home side, one more, one more. Which person in the cryptosphere, do you look to the most to gain an insight or advice? Is there one person and you really listen to what they're saying? Apart from our leaderboard, in terms of, you know, content, that good information I can gain from him, it would be between Ran Neuner of Fast Money Show, when it comes to charts, technical chart trader, but good content overall, useful, informative in terms of charts, data metrics, things like that. Alright, cool. Umar, really appreciate your time, really appreciate you hosting this fire side here with us, happy to have you. Thanks blake and the whole team, it was brilliant. Thank you again, and I'm more than happy to come back anytime again. Thanks for your time and thank you for everyone who joined us and asked all those questions. Appreciate you all. Thank you very much. Really appreciate your time, Umar, coming over to wealth of wisdom here. Appreciate your time always. Thanks again for joining us here and hope you guys keep well. Appreciate the support from the community. Thank you very much. Appreciate it. Really, really informative questions. Thanks a lot, friends. You bet. Thank you very much for being with us, very informative, you've been fantastic. Appreciate those of you that are here weekend, week out, this channel doesn't exist without you guys. Really informative session today. Thank you. But again, at the end of the day, I got to give a huge thank you to Vivian for taking time out of his day to be here with us. Got to give a huge thank you to the block talk supporters here. I'd go down the list, but we've got a really big audience today and we had a nice turnout for this. So super thankful for everyone that's here. And again, congratulations to odd and on winning the best question. Appreciate those of you that are here weekend, week out, this ama, this channel doesn't exist without you guys. So, you know, we say that every weekend, but we say it every weekend because it's true. It holds great weight around here. So we appreciate you guys a lot. Thank you. And with that being said, I think that's going to bring us to a close. Vivian, thanks again, guys. Make sure you give him a follow. Give wealth of wisdom a follow. Give blake a follow. Blake has been graduating into a sensational host and I'm so thankful to have him as a partner. He has really helped to get things going, keep things in line. He is a huge asset in this space and I don't think enough people follow blake. I can tell you enough people don't follow blake because the damn following count is not where it should be. But, dude, thank you for everything you do as well. With that being said, that's bringing us to a close, guys. If you got some, if you got a wealth of information from the wealth of wisdom Ama here today, make sure that you share this around here. In the next, probably 15 to 20 minutes, it should be available. Twitter takes a little bit of time to upload it. But again, we thank you guys so much for being here. The channel doesn't exist without you. And with that being said, that's going to bring us to a close. Rather it is the morning, afternoon or the evening time. Block talk wants to thank you for being here with us. That being said, crypto daddy and Blake for Liberty. We're going to close it out. We'll see you all soon. Thank you very much for having me on. Talk to you soon. Thanks, everyone.
