This is going to be a video where my thing where i say this might might be the ramblings of a madman this might be inaccurate might be completely wrong is not financial advice. All of these things apply super duper to this specific video because in this video. I'm going to talk about something i absolutely have no idea about cryptocurrencies now i'm not an expert in crypto. I never said i will and i never say i was and i will never be that kind of guy that goes to conventions go all into crypto projects etc.

Etc. However i am an investor i am bullish on cryptocurrency and i am sponsored by ftxus who's a major player in this industry. So i do have to make a decision for myself what to do with my own crypto position and in this video. I'll share with you my layman non professional non expert opinion of where i think the market is headed and what i'm doing with my own personal crypto.

It's gonna be very simple two minutes and that's it so look as i mentioned i am sponsored by ftx us and i will talk about them in this video. Because i think it's absolutely necessary so for that purpose. I have to say that the video is sponsored. So if we got that out of the way.

Let's continue and then i'm going to talk about ftx in a second now look basically what i'm seeing right now is a healthy phenomenon. It happens in every single market. When people find out about something new and they get all excited about it. The price becomes frothy and then there is the disillusionment basically what happened with crypto all the way up to 60 000.

Super duper fast. I actually think that crypto will go back to 60 and above. But it's gonna take a few years at minimum. But it basically flamed out it's like a relationship that goes too fast you meet a girl two dates into it you say i want to marry you the girl's like oh you're a freak.

She basically blocks you very similar situation this just happened too fast crypto was supposed to be a slow process. But there was just so much money in the system. Just a reminder. We printed 80 of the dollar in the past three years this money went to crypto punks board.

Apes cryptocurrencies and apparently palantir and some other stocks so everything flamed out so when things were amazing. When the price was frothy. Sixty thousand dollars everybody in their dad can pretend that they're a ferrari. While in fact they're a tricycle.

So there's a lot of small players that have absolutely no business. No business whatsoever to be in exchange that basically try to milk the hype. They got on the train they got a few dollars in but now when things are bad. When things are shaky.

They have no foundation. You know the story about the three little piglets and the wolf. So now is exactly what's going on the ones with the you know with the shack made of leaves. The one with the shack made of wood.

It's all falling apart. But you know who's going to be left standing when nothing else matters is that little pig who bought the house from bricks. That and going nowhere. And this is exactly what i'm here to tell you while all these small players getting wiped out because they literally are not what they pretended they're moped.

They're not a ferrari. They're not even. The moped. They're just a freaking old ass bicycle pretending to be something they're not so all these players who offer you 20 30.

You know put the money with us. Blah blah blah. Look. There's a reason.

Why my money isn't chase or bank of america and not in a cockamamie bank. Even though they might give me double the interest on my you know savings account. Why because i want to know that i can access my money whenever that bank of america isn't going to go under. That's why i don't put my money in dimitri bank.

You know what i mean the same thing with these people they put it and all this garbage keep it on the coin base or ftx something like that who puts it in these risky places. I don't understand this so anyways. These guys are getting wiped out and the only place where i think will be safe to hold your cryptocurrencies. I don't think it's a cold wallet now there's a reason i do not own one.

I honestly don't even have one you know why because all my cryptocurrency is on an exchange. I do not trust myself. If i lose this if i forget the code if anything happens to it if my weird ass forgets. Where i put it whatever this is gone forever.

There's no way to recover the cold wallet at least. That's my understanding let me know below if i'm talking out of my ass. But this is my layman non expertise understanding of things i do not trust myself enough to put my crypto position on the cold wallet. I much prefer to have it on an exchange and speaking of an exchange today's sponsor as always is ftx us.

And today is a special event because their sponsorship is extra extra spicy today because it means actually what i'm gonna say in this video. And i'm not saying this because i'm sponsored by them now look ftx us sponsoring. This video true. However ask yourself this question.

Why did i pick ftx us to sponsor. My channel after about half a dozen of offers of tens of thousands of dollars per month. Even sometimes hundreds of thousands of dollars including blog fight who tried to get into me. There's a lot of these companies who tried to work with me.

I always said no why did i say yes to ftx us did they offer me more money. No that's because i know they're the chase or bank of america. They're the ones who their name is never in this garbage that you hear in the news. They're always bailing out other idiots or buying up cheap companies that have crashed because they've got over leverage.

They're the ones who are actually running the industry. They're the most conservative. The most operationally sustainable business. Out there in fact.

I would argue they're better than com base. They're much more conservative and they run themselves like a financial institution. Not like a high tech firm like some would say coinbase is running allegedly so for me my currency. My cryptocurrency that is is 100 on fdx us for a few reasons.

I know it's safe nothing will ever happen to it i know i have the best fee structure in the business. I know that it's easy to use easy to understand and mainly. I know this brand will never screw over its customers because they're the number one in the business. That's like putting your money with nike or adidas or coca cola.

Nothing will ever happen to it. So. The answer is quite simple my sponsor for today's video and today's sponsorship kind of got intermingled with the content and if you have a problem with that and you think i'm just chilling. It's okay do not use ftx us.

But trust me i'm not and if you don't believe me that's fine too. But all my crypto is on ftx and will remain there for the foreseeable future because they are the best in the business. So i'm not taking my crypto out of the exchange because i'm on ftx. If you are on the mercury exchange you might reconsider.

But all i'm saying is establish exchanges and cryptocurrencies that actually have a utility or an established base and maybe even both will be here to stay. But kaka made me projects that mean nothing and these exchanges that are literally just fakers and hype artists will be blown away. And there's more pain coming in this market have no doubt about that.