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Decentralized Everything 150 150 admin

Decentralized Everything

There was a time where everything was very centralized. It all came from one place. Money, media and news, information, laws, etc. They all came from a few sources. Then the internet came along and fucked that shit all up.

Youtube has instant media now. People can live stream things that are happening in REAL TIME. People can connect with others to find out information in a way they never could before or just watch a stream of Youtube videos on the subject and run it through their own discernment to find TRUE information.

Value is so subjective, and we can really explore the possibility space as to what’s valuable for other people. Like to watch YouTube videos? You watching YouTube videos is valuable to other people and they will either virtually accompany you in doing so, or watch a video of you reacting to another video. There’s a whole space of reaction channels on YouTube. For people with NO skills, the documentation of their experiments and explorations are valuable. People can follow your journey along in real time. You eating food is valuable to people.

P2P services are here now. You can rent or rent out pretty much everything you own or that someone else owns if it’s available to be rented.

Decentralized coaching? Decentralized Innovation and Funding for the Innovation? Decentralized workshops? Cryptocurrency has a space where there’s DeFi (decentralized finance!).

I’m pretty damn excited about the way things are shaping up.

Lessons I’ve Learned From Investing In Crypto since 2017 150 150 admin

Lessons I’ve Learned From Investing In Crypto since 2017

Crypto has taught me a lot overall about investing – not only in coins, but in everything.  With this article I wanted to share some lessons from the mistakes I’ve made.  I’m doing well in it now, but there sure were some expensive mistakes I made to learn these lessons.  If you’re reading this, you don’t have to make these mistakes.

Short story on how I got involved in crypto

In late 2016, I went to a conference on making passive income in a more heart-centered, courageous way.  I was working at a pretty shitty job, and I was getting frustrated with it, so I took some days off to go to this conference.

The conference wasn’t about crypto at all, but I met up with some people who were invested in crypto.  They not only showed me how to get into crypto, but why I should get into crypto, so I did.  I signed up with Coinbase, and I bought about $100 worth of Ethereum (ETH) when it was then trading at $448.64 on December 7th, 2017.  Within a month it had doubled and almost tripled.  Ethereum had skyrocketed and was selling at almost $1200 per coin.  I remember lookin at this like I had hit the jackpot.   Up until then, I had not made any other investment that had almost tripled my money, and so fast.

I. told. everyone.

Everyone who was in my world at the time knew I invested some money in crypto because I shouted it from the rooftops, and I had friends that jumped in too.

What I didn’t realize about the market, was that that was the peak.  Bitcoin and the rest of the market, including Ethereum, tanked and went down in value for the next two years.

This is when I learned my first lesson, and it continues to be the most important lesson to this day – Fomo will get you wrecked.

Lesson 1:  FOMO will get you wrecked.  

FOMO stands for Fear of Missing Out.  When a coin or stock is going up in value and everyone is talking about it or it gets heavy news or attention, people are like “damn…I don’t wanna miss out!  I gotta invest now!”.  Many times new people invest from this pressured, emotional place, and it might take you getting wrecked to learn not to FOMO into an investment.  The danger in investing when all the excitement is happening is that that coin or stock or other investment could easily dip or even crash in value right after you invested, because you may have invested at a peak.

When everyone is excited and talking about an investment – whether it be stocks, real estate, crypto – anything, it’s way better to be ahead of the herd.  Be in it before everyone starts talking about it.  There are always opportunities to be ahead of the herd – to get in before things go up in price and value and attention, but it means you have to take your focus AWAY from where everyone is right now (the news), and being able to predict where things are going.  You can even wait until things die down and buy the dip, but don’t FOMO in.

Buy low, sell high.  Accumulate in the bear market when nobody is talking about what you want to invest in, so you’ll be positioned to take profits when the bull market inevitably comes and every one is talking about it.

Right now, everyone is talking about Bitcoin,  but there are amazing opportunities in certain alt coins (every coin except Bitcoin) to make life-changing profits if you’re willing to learn and be patient.

One thing that we did in that conference mentioned above was made a list of trends that would be important in the future, so we could be ahead of the curve.  We listed things like online education, self-driving cars, artificial intelligence, robots, cyber security, cloud computing, e-books and audiobooks.  These are trends that are going to be important in the future.  These are places where you can be ahead of the herd.

Lesson 2:  Only invest what you’re willing to go to 0.  Don’t invest more than you’re willing to lose. Do not bet the farm!

I lumped all these together in one lesson.  I ignored them all starting off.  I said to myself, “if this investment is going to triple, why would I not put everything I own into it?”.   Here’s why.

Having a significant portion of money and cash flow outside of your crypto (or any other investment) will lesson your sense of neediness.  You won’t be constantly looking at it every day to see  whether it goes up or down or left or right.  You can leave it alone and not think about it so much because its not a huge part of your net worth.  You can have strong hands when you see your investment take a slight or heavy dip in value and you won’t panic sell.

ALL MY CALLS WERE RIGHT in 2020! but I put almost all my money in crypto.  This was the mistake.  When I needed cash, I had to sell my crypto – giving away all my early positions.  It wasn’t very fun to see the whole crypto market as a whole rise like crazy while I had almost nothing invested in it.

Lastly, if you haven’t bet the whole farm on crypto, you’ll have cash to invest in opportunities you see.  If all your money is in crypto and the crypto market dips, your overall money will dip as well.  If you have cash, you can take advantage of the dips and buy on those dips.

Lesson 3:  Start small, find good projects and be patient enough to let it grow

It doesn’t take much to start investing in crypto.  I put $200 in PAINT and it gave me a little over 100,000 coins.  If PAINT goes to being worth $1, in maybe 2-5 years then that’s $100,000 off a $200 investment.  If it goes to being worthless then I’m out $200.  PAINT is in the NFT space and NFT’s are on fire right now, so I think it’s a good bet, but I’m willing to be wrong.  (This is not financial advice and I’m not a financial advisor.  Also, PAINT has not sponsored me.  I just like the project).

That same $200 isn’t going to get you very far if you just invested it in Bitcoin.  I would bet bigger if I was investing in Bitcoin or Ethereum because they’re the safest bets.

Good projects have a good team, solid roadmap, good use case.  It takes time to sift through and find the solid projects amongst the thousands of coins – that’s why they’re called gems.  The lower the market cap, the higher the risk of the investment.  I start with low to mid-size market caps and play the waiting game for them to rise in value.  Coin Gecko and CoinMarketCap tell you market cap information on coins and much more.  I use them all the time.

I start with YouTube.  It’s in a YouTuber’s interest to give you good, solid information that’s valuable.  It helps their channel grow.  That being said, I only use it as a starting point.  I do my research on specific coins AND the YouTuber that mentioned the coin and put it against my own knowledge and reasoning.  You are ultimately responsible for your profits and losses.

Lesson 4:  Take profits

You’re not going to want to do this.  When you see your investment rising in value, it will be hard to sell a portion and actually take some profits because you think it will continue to rise.  It might, but nothing goes straight up and continues to go straight up.  There are twists and turns and peaks and valleys – lots of them in a relatively new and emerging market like crypto/blockchain.  WHEN to take profits is a personal choice, but take them.  In 2018 many crypto investors, including myself, learned this lesson the hard way when the crypto market came crashing down and we rode those coins all the way to the ground.

Lesson 5:  Look at the world like a sea of opportunity

How you see the market and how you relate to the market will affect how you trade.

If you look at the world like a sea of opportunity, then you won’t panic sell or be stressing out when a coin doesn’t do what you want/expect it to right when you want it to.  You won’t be dejected and down in the dumps when another coin that you don’t have rises in price.  You’ll know there are opportunities that come along all the time, so there won’t be any need to stress about an opportunity you think you missed.   Jay Z said “There’s a million ways to get it…choose one”.  If you can see the ocean of opportunities that are always there, you won’t be as attached to the outcome of any one particular investment.  You won’t be hanging on its every move.

Imagine you’re a surfer and you’re trying to catch a good wave (your investment).  If one wave doesn’t go how you want it to, just wait.  There are plenty of good waves comin.

Lesson 6: Develop trust in yourself

Notice I said “develop”.  You’re not going to start off with trust in yourself, but it will come with time and more engagement with the market.  You’ll be able to see the places you can get in early.  More importantly, if you’ve developed a string of small wins (meaning you’ve done a lot of step #3 already), you can start to trust yourself to bet bigger, and thus bigger profits come.  Trust will come from learning what to look for and conditioning yourself to buy good projects low and early and sell high.

Lesson 7: The gold is in private communities.  Pay to be in them if you have to.

Private communities, private telegram groups, and private memberships are all ways to get exclusive information.  Many times people have done research in those communities for you and are trying to help everyone do well and/or find the hidden gems.

You’re going to need to learn the language.  Here’s a great article on some common phrases and what they mean.  I would also give Coinbase Learn an in-depth look.  They might seem boring now, but learn about them again when nobody else wants to learn.  If you don’t take away anything else from reading this, take this message away – be ahead of the curve.

That’s all I got for now!  Have some fun investing!

What is Your Relationship With Money? 150 150 admin

What is Your Relationship With Money?

In this article I will give you direction to find out what your relationship with money is – almost immediately if you want.  When I actually examined my own relationship with money and dived deeper into the rabbit hole, I started to see results and a severe improvement with my relationship with money.

If you want to examine your relationship with money – or any part of your life – write a litter to it.  Start it off like this:

Dear money,

*insert all the feelings and thoughts you have about money*

When I did this exercise it came out similar to this:

Dear money,

I think about you all the time.  You’re always on my mind.  You’ve been on my mind so much I’m tired of you – and you’re not even around!  I’m mentally exhausted of you, and I wish I didn’t have to think about you all the time.  Sigh.

Dude…talk about creepy!  I think about you all the time, but I’m mentally exhausted of you?  WTF?!?!? Come on Broderick, what the hell man.

After seeing this in front of my face, I realized I had to put myself in a position where I’m not thinking about money nearly as much.  I needed some mental space from it.  I don’t think I ever would have seen that had I not written the letter.

I had a stressful job only because of the money, so I quit.  Again, the main focus was to get myself in a position where I’m not thinking about money.  It was great being free, and so I started to work on my creative output and made a course and hella articles.  I started independent contract work through Door Dash and moved in with parents to lower my expenses.  Gifts and opportunities just started coming, and I had the space to wait for them to come and to wait for the right places.  I realized that keeping money around was more important than how much I made.  Today the letter to money would be very different.  It would go something like this.

Dear money,

Hey.  HEY.  2020 was pretty badass right?  We gotta do that shit again! 

🙂

Listen, I know what you’re thinking – “Broderick is a genius”.  This letter-to-money thing wasn’t my idea though.  It actually came from a book called You are a Badass at Making Money.  Pretty badass book yo.

 

Gratitude is Badass 150 150 admin

Gratitude is Badass

Here’s another concept you wouldn’t think to put under the badass category…but isn’t it badass to appreciate what you have now?

Or have we been conditioned to always look for what’s shiny and new.  When we get it, the 🙂 wears off and we’re chasing another high.  Why?

Appreciate what you have now.  Take care of what you have now and watch it grow.  Keep that same energy.  That’s how you’ll create a badass life.  Other people, other resources will be drawn to that energy.   People will see you care for the people in your social circle and want to be a part of it.

The Number One Rule of Badass 150 150 admin

The Number One Rule of Badass

The number one rule of badass is…you can never say “I’m badass”. The second you violate this sacred rule, all of your accumulated badassness walks right out of the door.  It’s gone.

Other people can say what they want. Some might see you as badass.  Some might think otherwise. Everyone is entitled to their opinion.  In fact, your badass level rises the more you can remain non-reactive to other’s opinions.  You can proclaim someone else or something else as badass, but never yourself.  Do not violate this rule.

Think about people or characters you think are badass. It would be lame as hell if they themselves were to proclaim how badass they were. It would be like they’re seeking validation or confirmation, which would make everyone look at them like this ??

Let other people be in charge of those judgements!

You can think this in your head all you want.  You can wear things you think are badass.  You can do things you think are badass.  You can THINK you’re badass.  Just never utter the words “I am badass” out loud to anyone ever.   

You shouldn’t have to say it or proclaim it.  If you’re a badass, we will know!