The Root Of ALL Crypto Investing Greatness - (Chris Coney) WCSS024

For 7 Best DeFi Strategies To Make You Money click https://www.cryptoasset.school/7-defi-strategies

So I’ve called this episode ‘The Root Of All Crypto Investing Greatness’ which sounds like an exaggeration but you’ll see as we go through that it’s not.
I am just naturally obsessed with root cause analysis and always have been, it’s just how my mind works. And the reason I am so engaged in crypto investing is because once I identified the root of all crypto investing greatness, I was sold.
Now macroeconomic analysis is nice, and it’s often preferred because it can summaries a lot of what is going on, on a micro level.
However, I was never totally at ease staying on a macro level because, in order for me to have confidence in the macro analysis, I needed to also understand the foundations that it was built on.
Then if the macro analysis makes sense when built on the micro, then I have a very solid structure. And in investing, confidence is key because it allows me to take calculated risks.
So I made a formal training program called DeFi Revolution that takes you step by step through the process of getting setup and investing in the crypto DeFi ecosystem for significant gains.
But I suspected that many people were still left with a micro level question of WHY crypto and defi investing leads to such huge gains.
What is it specifically about crypto or defi that has opened up Pandora's box?
This brings us to what I identified as the root of all crypto investing greatness.
So here it is.

There are 3 pieces of technology that are simple enough to understand on their own, and when you put them together it creates something so much greater than the sum of its parts.
And it’s what arises by combining these 3 roots together that creates the tree trunk. And it’s from there that all the rest of the crypto and defi branches emerge.

So what are those 3 roots?
The first is private key cryptography.
This is where a random number is generated (kind of like a long password) that acts as your digital key.
You should treat this just like a physical key and have as few copies of it as possible, only giving copies of your key to the people you trust the most.
Without getting too technical, a private key allows you to lock your digital assets in a digital vault, and since possession is ownership in crypto, anything in your vault is yours, and only accessible with that specific key.
So that is part 1, digital keys.
The second part is smart contracts.
These are autonomous computer programs that act as mindless, automated middlemen for digital transactions.
They too can have and manage their own digital vault with their own private key.
That means software programs can now take possession of and own any of the digital assets that are available to you or I.
This part enables us to remove human middlemen from financial transactions by using these smart contracts like an escrow account that cannot be corrupted, bribed or manipulated.
So that is part 2, smart contracts.
The third part is blockchain technology.
This is essentially a database of transactions that tracks the ownership of digital assets.
It does that by keeping track of the last person to receive them.
That not only determines who currently owns the asset, it also determines who has the right to send or spend the asset.
A blockchain creates an audit trail for every asset so you can see the chain of ownership going all the way back to the assets original creation.
This database of asset ownership is shared and hosted by everyone who participates in the network and everyone's copy of the database is automatically synchronized with everyone else's every single time a transaction is performed.
And a transaction is just anytime a private key is used to unlock its digital vault, take out an asset, and transfer ownership to another digital vault (which has its own digital key).
That is part 3, blockchains.
So the root of all crypto investing greatness is the combination of the three:
Private keys - The ability to custody your own assets
Smart contracts - The removal of all trust from transactions using automated middlemen
Blockchains - The recording of every single transaction to create a system of total accountability
The combination of those three things provides the foundational trunk for all crypto investing greatness.
What that makes possible is so revolutionary that we have barely begun to tap it’s potential. And that is why the growth in crypto and defi is explosive but in proportion.
The number of branches, the colour of the leaves and the variety of flowers that you see all stem from this trunk, made up of those 3 roots.
And that is why I call them the root of all crypto investing greatness.