More popular with investors, but there's also something called altcoins, and one of them is getting a ton of attention joining us to explain which it is as youtube. Financial analyst kevin, paffrath kevin. We first have to talk about. Would that look been in the governor's office? Had you uh, had you been successful with the recall? No, this is a little bit of a protest of politics.

Understood well i'll. Tell you what you i can't miss you in the crowd. We would never get separated uh. Let's talk a little bit about altcoins.

How do they differ from the bitcoins and all the other cryptocurrencies we're hearing about absolutely altcoins are really being designed as a way to solve some of the problems of bitcoin. I mean look at it. This way. Elon musk has now over a billion dollars with tesla invested in bitcoin, but he stopped taking payments in bitcoin because bitcoins just deemed to be uh too dirty of of a currency.

Energy use wise right now and we're looking for something: that's faster for transactions, and so this has given rise to a lot of altcoins that promise to do what bitcoin can't. Although bitcoin promises to one day evolve, people say hey, we can use coins like shiba inu to do faster transactions at lower costs and less energy usage, and therefore maybe these are the next frontier for investing. Think about this shiba inu is the 19th largest cryptocurrency right now it's bigger market cap, wise than cheesecake dave and busters, and shake shack combined. That's the cheesecake factory, it's bigger than all three of those combined and it's this coin that was created off of a joke called dogecoin.

It's designed to be the functional version of dogecoin and it goes up anytime, elon musk talks about it. So yeah it's uh. It's it's an excellent opportunity for both fun, entertainment and hopefully investing as it proves itself in the future. So your knock against bitcoin when you refer to it being dirty, is: are you referring to the mining of these elements that are required to create it? Exactly and look? I don't want to dis on bitcoin.

I invest in bitcoin, but here's the thing. Bitcoin miners say that 70 of bitcoin is mined using renewables, but the problem is, we don't know how much of that is actually renewable that they might just use of. You know some renewables, but not for all of their crypto production or their mining production. So this has led to estimates and they're kind of unclear, but estimates that about 33 percent of bitcoin mined today is done with renewables uh, a lot of it still today like about 66 still using coal.

Now that china has banned mining, though we're seeing a lot of bitcoin mining take place here in canada or north america, we expect that bitcoin mining is going to get a whole lot cleaner, which is really good for the industry and anybody who's worried about regulation. Coming personally, i'm optimistic about cryptocurrencies and regulation coming from our governments here in north america, so kevin. It seems to me the the whole altcoin bitcoin that whole market we're separated by an age barrier old guys like me, don't understand it and we're scared of it. Young guys, like you, embrace it and say it's the future, will those two groups ever intersect? Do you think absolutely so? Here's what's happening, and this should give you some more comfort, is when you start having bank of america and wells fargo and jp morgan chase, authorizing their wealth managers to direct uh, their their advisors.

To mention hey, we can get you invested in a crypto in a safe and secure way. Then you know there is a future in cryptocurrencies. You've got visa, mastercard massive corporations with huge stakes and cryptocurrencies, so they're not going away any time in the future. My recommendation is, if you want to get into having more knowledge, take a small amount of money start with 100 200, throw it into bitcoin and ethereum.

Take 50 bucks, throw it into something fun like shiba inu, and so that way you can start getting more educated. See once you actually put a little bit of money to work in something you really start doing more research, you pay attention to the news more and you become more comfortable with it over time and pay attention to elon musk's twitter as well, especially if you're interested In shiba inu everybody's waiting because he owns a shiba, inu dog and anytime there's a picture of his dog named floki shiba inu does very very well but exciting things coming to the sheba network as well, potentially today, with their digital artwork release coming today, which a Lot of folks are very excited about buying those nfts and digital artwork. Well, we just threw up a picture dog good, looking dog and i i you know who doesn't want to be associated with elon musk. I mean he seems to have the midas touch or the shiba inu touch.

If you will hey kevin, we have to call it a conversation always entertaining chatting with you, and you know what i might just follow your wreck. I might have a hundred dollars laying around somewhere there you go, give it a shot. You'll learn a lot and it'll expose you to a new world of thinking, and i'm excited to have you in the future. All right, kevin, we'll talk again, all right.