5 Industries For Diversification (Transcript)

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[00:00] Welcome to bit better have my money. I am Mitchell Stulken. Recording once again from the wonderful confines of my basement. And it’s just me down here today. The rooms upstairs watching Youtube, little Jack Septic Guy. I liked Jackson guy makes me laugh. Good. Could you tuber. So take a quick look at the portfolio trading portfolio today. And we are at $2,700, actually 2,780. Yep. That’s as low as it has ever been. And it is what it is. Nothing. Uh, nothing too crazy. It’s a I, like I said before, looking at the cash value is kinda deceiving. Bitcoin goes down, cash value goes down. Uh, I’m basically trying to accumulate bitcoin and uh, looking at it today, I was, I am down zero point two to Bitcoin, which overall is not that bad. I’m actually really happy about that. It could be way worse. There are coins that have lost over half their value.

[01:09] Uh, so my portfolio has lost only 34 percent and bit coin itself I believe is lost like 68 percent from its all time high. So 34 percent on that is not that bad. It’s, I’m actually pleased with that. It could be much, much worse. There are people I’ve talked to that are way worse situation than I am and there’s people better. So I’m happy where I’m at. It’ll come back. I’m not too worried about it. So, um, I, when I found out the Bitcoin, when I looked at how much bitcoin I lost and actually figured it out today, I was pretty happy. So, um, one thing to think of when, when you are, if you haven’t traded or are, is when I first started, I used to look at cash price and it used to drive me nuts. I quit. I mainly do it now while I’m doing this because it’s easier and it is easier for me to, to talk about it in USD and be like, here’s what my portfolio value is.

[02:12] But it is very deceiving as well. So I get a lot of crap. I tell people I’ll load is so they should have sold before, whatever. Anyway, so not really too much. Go over here. Coins, it’s a red day or we’re bleeding. Everybody’s bleeding. Slowly bleeding everywhere. So if you got some gauze or something hit me up, let me know. That’d be fantastic. Let’s see what. Let’s just look at what’s the biggest loss loom down 18 percent, which doesn’t surprise me because it shot up 32 percent, like a day just on like Monday, something like that. So that really doesn’t surprise me. Deep brain chain down 16 percent. That thing is very weird. It’s an eight. 13 right now. It’ll probably drop down to around 600 ish and if it does, if it gets like 5:33 that I’d scoop that up. I’ll probably Ribeye in more at 5:33 because once it hits that it seems to just shoot up.

[03:13] I’ve done it twice now with deep brain chain. When it gets that low I buy and it shoots up for quite a while and you can, you can make a pretty good profit. I’m not that. It’ll happen this time for sure, but I’ve done it twice so keep an eye on that. I obviously I’m gonna to. I didn’t realize it was that low a waves. Fourteen percent down, whatever. Let’s see, what’s the lowest one here? What’s, Oh, icon is up. Two point eight. Three percent. Good job icon. Good job. All right, well let’s look here at what is really going on here. So bitcoin is down three point nine, four percent today. That hurts. That’s, that’s what, that’s what’s getting. Everyone is bitcoin. He goes, everything goes. It’s, it’s, it’s sitting at $6,297 right now. I bought some more bitcoin today. It is Wednesday, so I buy on Wednesdays.

[04:08] I also bought from some more etherium a theory room is down. Five point seven, nine percent and $469 and thirty seven cents. So I actually bought some bitcoin if they’re in. Oh No, I just hit a button. I wonder if works. Anyway, I just bought some Bitcoin, ethereum, and light coin today. I buy every Wednesdays, every Wednesday at least buy bitcoin and etherium uh, I actually didn’t buy as much. I usually buy 20 to $30 of each every Wednesday just to kind of dollar cost averaging and I did a little bit, I only did like $15 of each today and I’m actually not going to do to anymore. I’m going to start accumulating cash, putting cash in, like docs doing a cash deposit every once in a I’m to build up some Fiat and I believe bitcoin’s going to go lower. I think in theory is going to go lower and if it gets down to like four, 3:50, I’m going to buy it as much as I can right there.

[05:10] Bitcoin, if bitcoin gets to like five, even $5,500, which I’m pretty sure it’s going to. I’m going to buy. Um, I haven’t decided if I’m going to do it five or 55, I’m going to try and hold the five. There’s some people who think of go to for maybe, but I think once it hits that bottom, it’s going to go back up fairly quickly because everyone’s going to be like, wow, look at how low that is again. And they’re just gonna snag it. So anyway, keep an eye on that. If you’re watching, looking at the buy in, just keep watching now. Now, even right now is a great price. You know, if the dream, I think it was up to $1,500 for awhile. Bitcoin obviously up to two 20,000 a top gainer today is six point nine percent. Did you Tao good for them? Nice. Oh, factums the biggest loser.

Twenty Percent Luma Luma guy down 18 percent. I should just waited a bit on loom, got a little overzealous. But that’s kind of the prices. Now let’s move onto something a little bit more fun I guess we should say. So my friends at above crypto, above crypto is a group that I got into when they first kinda started. It’s a obviously a crypto currency group. Um, when I kind of started getting into Crypto, they were kind of just getting started. So I was, I was one of the first ones to get into their discord group, which is free. They do have a premium one, but I am in their free discord group. And uh, they, they helped me get going, you know, learning that they’ve helped me quite a bit. Um, so w we were actually talking about diversification one time and actually we’ve talked about diversification a lot and they’re most people like when I started my diversification was just putting it in different coins and that’s the way I looked at being a diversified.

[07:18] Well, the more we got talking in the discord group here on above crypto and I will put a link in the show notes here if you want to come into the free discord group, I’ll be in there anyway. It will be in the show notes, comments, whatever. And you can hop in if you want to. Uh, but anyway, we were in there talking about diversification and we, especially me, I had just spread out into separate coins if I was diversified out to being like 10 coins. And that’s great. So that is being diversified. But the more we kind of looked into it and started to learn, we came up with a different way to kind of diversify things out. So instead of just looking at coins, we actually look at what type of industry or sector the coins are in, so that way you’re spreading out and getting the best deffer to Harvard.

[08:23] You’re getting the most diversified portfolio that you can. Uh, so they got broken down here into five different industries or sectors, whatever, whatever you wanna call it a day. Our Currency Utility, dividend, privacy and platform. That is the five. Again, a currency utility, dividend, privacy and platform. Uh, the privacy section or sector basically is these, these are currencies that, um, give people anonymity and in a robust and decentralized manner, basically it’s, you can do payments. It keeps it private, a safety thing. They’re becoming more and more popular. Minero is a huge example of that. So there, there are a couple here that when we were making up this list here, we like the most, uh, z coin, manel, Dash Zen cash for, um, I actually own a master node in z coin. A buddy of mine owns a master node and for so privacy ones there are more obviously, but these are the ones that we kind of liked when we were looking at it and put it, putting it together.

[09:38] Um, utility. Basically these are coins you just the services and can be purchased by an end to consumer. So there, there are a lot of these obviously, but some of the more popular ones that we like, our, like Walton Chain v chain, Omg by Finance Coin, Bobby Power Ledger, sis coin, basic attention token token. They’re doing a lot lately, a basic attention token. If you haven’t started using the brave browser, definitely check it out and fax them. And that is again utility. The third one here is a platform coins and these are basically the coins that you can build on top of ’em right? Smart track, smart contracts to them. The ones that we kinda liked on there or is a theory from Neo eos icon, lisc stratus, stellar waves, Arc v chain, Nav Coin and cysts coin. That’s under platform again. Did I miss? Oh yeah. There’s two markets. Top another one, payment coin at pretty self explanatory, pay for goods and services, pay with whatever other ones near.

[10:46] We’ve got our bit coin light, coin, Nano and stellar. So uh, that’s pretty self explanatory. And last one is dividends. So basically owning a certain amount of those coins you’ll get that coin is a payment. So like a master node would be considered like a dividend coin. And again the ones we like can hear neo when we say go, Z coin again, which master node Wallet Coin, which is a master node as well. Ces coined master node, a finance coin for again has master node and zen cash. So those are some of the coins in the different sectors that we liked. And again, currency, utility, dividends, privacy and platform is the five sectors we’ve broken it down to. And what this allows you to do is instead of just diversifying out into separate coins. So if you went out and just started buying, buying up coins, ones that you like, what happens if every coin that you buy ends up being in the currency sector or the utility sector or the platform sector.

[12:01] So every coin you own, for example, could be in the platform sector, you’re still diversified out over coins, but you’re not diversified out as well as you could be. So what we do is when we look at a coin or even looking at new coins, what I do now is I will look. So let’s say I am looking at z coin, we’ll just, we’ll just say that for a second for that. I’m checking into that. So I would look and be like, okay, the coin has a, has a master node is going to pay me. So that would be a dividend that would be in my dividend a sector and that one also happens to be in privacy sector. So that’s not a bad thing. They can overlap and that can be a good thing because then you’re hitting and you’re getting two different sectors for one coin.

[12:50] So that is a good thing. Um, but it allows you to just diversify, diversify out more. And what I would encourage you to do is go look at your portfolio and see like where your all your coins stack up. So if you have too many coins and say the dividend section or sector, I would look at possibly moving some around, maybe selling, selling your least favorite one out of there and then move it in and into something else. Uh, just that I diversify out more. So you know, if for some reason, let’s say all of a sudden the privacy sector just takes a complete crap. Everything in that goes down, well maybe the other one in the payment section does fine. So that is something that we came up with a for helping to diversify out and it is important to diversify. It lets you minimize your risk.

[13:50] Well increasing your chance for profit and this just lets you do it in a little bit easier way and maybe you don’t want to be, do like maybe you just want to be in the utility section, that’s fine, but this at least gives you an idea of what you can do and the different ways you can do it. Again, this comes from above. Crypto is nice enough to let me use their little, their little sheet here to read off of. And it’s also on the youtube, if you want to go see, see the video of it, you can actually see their, uh, their nice little pdf they put together. I am terrible at putting stuff like this. So shout out to them for letting me use it. Um, that is all I got for you on the Crypto side of thing. Like I said the other day, I finally did move on to like movies and shows now.

[14:43] So if you don’t like tv or movies you can, you can stop now. Thanks for listening. If you do. Thanks for hanging out. Uh, I finished evil genius on Netflix last night. Finally, I meant to finish it the day before, but Netflix wasn’t working, but I got it done last night and I can’t, I can’t really recommend watching it. If anything watched the first episode in the last episode, you could skip the first two. It kind of goes, it starts with a bang. Goes out with a whimper. I mean, it’s cool. It’s nice. It could have been, I mean it was short anyway, but it could have been shorter. It just left me unsatisfied. And there’s something I’m, I’m thinking I’ve. What popped in my head there is rounders. Did you ever see rounders with Matt Damon and Edward Norton and John Malcovich, the poker movie and John Malcovich plays the Russian and after he just kicks Matt Damon’s ass poker. He’s like, that left me. I can’t do a Russian ads accident. That left me. So unsatisfied. Anyway, that’s all I got for you today. I’ll put the link for that above crypto group. If you want to check it out, it will be in there also. I’ll put the link for the Youtube video if you actually want to see the pdf that they made up a.

[16:10] yeah.

[16:12] Anyway, hope you guys having a good day, night, morning, whatever. Whatever you got hope for your summer’s going well with that, would you kindly. I don’t know, do you guys know where that’s from? That’s actually from something. Would you kindly. But what’d you kindly hit? That subscribe button, like button, whatever. That would help me out a ton and we will talk to you tomorrow.

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