MOST EXCITING Cryptocurrency Opportunity of the Decade Sovryn DeFi on Bitcoin EXPLAINED

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i actually don't think i think i've  only seen this level of excitement   in the crypto space twice before so once was  the very very earliest days of bitcoin when   also was excruciating to try and use bitcoin  but it was kind of the best time to get in   and then also the very very early days of  ethereum when i remember you know vitalik   was going from town to town in these meetups  and just the level of excitement in the rooms   was crazy for something that hadn't hadn't even  launched and so i'm extremely optimistic about   something because i've seen this happen twice  before just the level of energy it's crazy hey welcome back everybody to altcoin  daily my name is austin you are there and   and very excited to speak to special guests  today iago who is an early contributor to   sovereign which is bringing d5 to bitcoin iago  how's it going hey guys absolutely a pleasure to   be with you guys looking forward to it for sure  and i'm excited number one because we've seen   all this all this d5 grow on the ethereum  ecosystem and another you know cardano solano all   that money flow into those ecosystems and you guys  are spearheading the charge for building this defy   infrastructure on bitcoin so i i want to get  to that but first just big picture what's your   background and how did you get involved with  crypto yeah so my background sort of from an   academic and business perspective is i was  a neuroscientist i worked on neural networks   and i read the satoshi white paper in 2011  because i was reading stuff in network science   i came across it by mistake and it blew my mind so  part of my background is i grew up in south africa   uh which was you know apartheid south africa  at the time part of my family were associated   with nelson mandela's anc party and had been  designated as terrorists um and so they had   been forced to flee the country when i was a  young kid i was smuggling gold out to them um   in krugerrands that my mother  would sew into my clothing   uh so krugerrands are like these little gold coins  and my family had you know survived the holocaust   by smuggling jewels so for me this  idea that um financial sovereignty   was very important having the ability to have true  ownership of something was critical to being able   to preserve your freedoms and your sovereignty  was something i had grown up with and um   and i i you know had seen in many different  examples in my life how when governments try   to control you or become oppressive the first  thing they go after is the money they go after   your money because that's the best and easiest way  for them to control a population so when i came   across bitcoin i think i was already primed uh to  to sort of see the value there and and so in 2011   i started getting into bitcoin and very very  quickly uh i became all bitcoin all the time and i   and i've been on a trying to build  up the adoption of bitcoin ever since   well i love that yeah bitcoin is probably my  opinion the best way to you know take control your   money and uh be able to you know transport it uh  you know just hold on to it um my question is why   defy on bitcoin why defy on bitcoin i mean isn't  d5 on ethereum or solana isn't that working fine   why defy on bitcoin well there are two reasons to  have d5 on bitcoin the first reason is for bitcoin   and the second reason is for d5 so for bitcoin  there's a trillion dollars in assets um those are   assets that people have uh value for right people  hold bitcoin because they want to have an asset   that they can use without intermediaries but today  if you want to use bitcoin you pretty much always   have to go through an intermediary if you want to  lend if you want to borrow if you want to trade   if you want to have a stable coin all of these  things are sending you to a central intermediary   and you can't even use uh ethereum for d5 because  you know the way that bitcoin works on ethereum is   through a centralized party right so wbdc is just  bitco account right so you have to trust them so   for bitcoin there's a huge sort of latent demand  out there in fact i would say the biggest market   by far 4d5 is bitcoin and until sovereign came  around no one was really tapping that market   and then from the defy side well i  actually don't think you can build   really good defy outside of bitcoin and  the reason is simple um bitcoin is unique   even after all of these years in the crypto  space bitcoin is the only system that you know   it's going to look the same way today as it's  going to look tomorrow and in 10 years and for   your children and your grandchildren it's a law of  nature block after block after block the same rule   set the same thing that is the kind of reliability  that you need if you're trying to build a new   financial system right because a new financial  system means mortgages it means pensions it means   long-term term lending it means people's savings  right it needs to be iron-clad reliability like a   law of nature and only bitcoin provides that so  right now we're seeing a lot of experimentation   eve from solana on avalanche and and and i think  that's really great right there's a lot to learn   from that experimentation but ultimately when we  rebuild the financial infrastructure of the world   that's going to be done on bitcoin because it's  the only reliable system out there so talk to me   about sovereign because i've personally seen  you on the pomp podcast on bankless podcast   but pretend for those people that have never heard  of sovereign what is it and what do you provide so   sovereign is an extension of bitcoin right it's  a protocol that extends the the functionality   of bitcoin i i sometimes call it the bitcoin with  superpowers right so with sovereign you're able to   build out all the key components of smart  contracts decentralized finance and so um   uh what bitcoin what what sovereign does is it  uses all of the technologies of bitcoin layer 2   to create these tools so in  a very short space of time sovereign has built out uh lending and trading uh  the margin trading uh bitcoin back stable coins a   launch pad and maybe most importantly a very very  robust governance system that manages the protocol   and on top of that there's a whole  slew of things that are being built   by people who are working on the sovereign  protocol so sovereign is not a company   it's not an application it's a protocol and  it basically means that bitcoin can now do   anything uh that you're seeing on the other  chains and in particular sovereign right now is   focused on building out the financial tools that  extend people's sovereignty over their bitcoin and   really over any type of money uh to never  having to use an intermediary ever again   so with sovereign you can do bitcoin back stable  coins you can do lending and borrowing you can   do spot and margin trading is that correct  yes you can do yeah all of those things and   uh you know there's work right now being done by  one team who are working to bring perpetual swaps   to sovereign there's a team who are bringing zero  interest loans so you'll be able to borrow against   your bitcoin and pay zero interest into perpetuity  so you never have to sell your bitcoin again   um there's a project that has already uh launched  the system for uh doing for managing marriages and   they're now working on divorces so you can um when  you get married you can do it you know without a   government without an intermediary you can just  you know have a globally a global marriage which   is protected by the most secure system in the  world the most permanent system in the world   bitcoin right and then if you ever get divorced  instead of having to go through years and years   of a court case you just have a smart contract  that's able to manage that out there's a team   working on mortgages there's a team working on  systems with el salvador so that um uh people   in el salvador can start uh borrowing against  their bitcoin and using bitcoin back stablecoins   uh with lightning network as their normal means  of payment it's phenomenally uh exciting how much   innovation is happening and what's cool about it  also is in many ways it's different from sort of   like the experiments in default that have been  happening on other channels because bitcoin is   so much more connected to real world uh economics  right so like these things like pensions mortgages   these things are happening on sovereign because  bitcoins already deeply embedded into the world   of remittance into el salvador into the way that  nigerians save money so it's really exciting to   see a different kind of d5 emerging very  very quickly interesting i'd love for you   to go further on that because for the average  person they just they're just going to care   about ease of use i would assume that they're  not in a crypto so bitcoins are embedded in a   lot of these places around the world could you  just speak a little bit more on why somebody   might choose lending and borrowing on sovereign  as opposed to on an other protocol well i mean   so for example with el salvador the reason is  obvious right so el salvador have chosen bitcoin   um as legal tender in their country and you  know there's a reason they they chose uh bitcoin   right they weren't going to choose ethereum they  weren't going to choose seoul uh because ethereum   is constantly changing um is actively managed  by an unclear group of people and is about to   go through this massive upgrade right  so it's it's it it's a different   it's a technology it's a very cool technological  technological platform but as an institution   right as a system for delivering sound money  that's really not what ethereum has gone after   and so you know large institutions  companies when they put their treasury money   and countries when they choose to be sovereign  themselves or to enhance their own sovereignty   they choose bitcoin so if you want to have  a decentralized financial system where the   people of el salvador can have access to you know  you guys could be able to lend them money right   or they could have access to a system which  is going to allow them to get a mortgage on   a house where usually they wouldn't  be able to because they're unbanked   you're going to need a system which is not only  connected to bitcoin but it's also backed and   based on the reliability of bitcoin and so i think  for that reason it's something that really yeah   only sovereign right now is providing and i always  like to i would like to say you know bitcoin is   our best shot to truly separate money from  state just because it's the most censorship   resistant it's the most decentralized obviously a  critique from maybe an outsider would be it's slow   but you guys are building on a side chain  correct can you talk about the trade-offs   or the side chain or you're playing so yes a  sovereign basically is like an operating system   for bitcoin layer two so it combines all of the  different layers so um most of the smart projects   um are going to be built and currently are  built on rootstock which is a side chain of   bitcoin it's got uh it it's kind of like if you  took the technology of ethereum and ported it to   bitcoin and you'd like get the best of both  worlds that's what rootstock is so rootstock is   evm compatible you can use and you can even  port ethereum type contracts it's got a 30   second block speeds you can do roll ups you can  do zero knowledge proofs um so that's rootstock   and then also on the transaction side we're  integrating lightning network right so you can   use that for payments and that's basically going  to infinite scale so people say that bitcoin isn't   scalable or that it's slow but i think again  that's looking at it through the wrong frame of   reference it's looking at it through the reference  of like as if the layer one was the technology and   as if the technology was what was important  so technology is always built out in layers   and bitcoin is actually probably the most scalable  blockchain because what it's done is it said we're   going to be very very precise in the layers that  we built right so the bitcoin layer 1 the bitcoin   main chain is very very good at just acting as a  settlement layer it's the best settlement there   because it's so reliable lightning is really  really good because it's got infinite scale   rootstock is really really good because it's  secured by bitcoin proof of work but can do   smart contracts i think that's the way that  you build technology uh which is scalable and   bitcoin is also extremely scalable in another way  which most people don't seem to talk about but i   think is really important bitcoin scalability  is not about technology it's about sovereignty   right so bitcoin is scalable sovereignty  individuals get bitcoin because they want   to be suffering they want to have control  over their own destiny and their finances   companies get bitcoin because they want to be  suffering they want to have control over the   treasury and their financial future right so  if you think about michael saylor that's what   he keeps saying if you think about why tesla  bought bitcoin it's exactly for that reason   and now countries are buying bitcoin for exactly  the same reason right it's so that they are less   reliant on the dollar less reliant on the us  uh can can less be pressured by the world bank   so that's a phenomenal thing right there's  this tool that provides sovereignty from   the level of the individual all the way  up to nation states that's scalability   i love that um everybody in the audience  i'm curious to know what you're thinking   i think if you appreciate this kind of interview  hit the like button uh because iago is certainly   providing some some great alpha here this might  go without saying but with um sovereign you   keep control of your keys yes so you can't have  d5 if you're not controlling your keys right so   the so sovereign you never need to register like  your name or anything it's not like an exchange   well it feels like an exchange right so i think  you know the devs who are working on the reference   implementation the front end so if you go to  sov ryn dot app sovereign dot app you can see   the front end and you can click into  the app and you can connect your wallet   um and you know it's not perfect the system's  only been out for about five months and there's   constant duration but you'll see how much stuff  is being built and that's all being built by   different teams and by the core team and you'll  you'll probably have an experience which is more   similar to a centralized exchange than maybe  any other defined system and that's on purpose   because sovereign is not really  competing with d5 and ethereum or solana   sovereign is competing with centralized finance  as a concept uh in just the same way that   bitcoin is competing with centralized money as a  concept and so the idea is to try and make this   not but you know we're not quite there yet but to  make this as approachable for ordinary people as   a centralized service and in many ways  it's better than a centralized service   even for the average user because you don't have  to register you don't have kyc you just click   and you're you're in and you don't give up your  funds you basically have the funds in your wallet   and you you spend them or use them or transact  with them as you want so i think it's it's it's   ultimately going to be the most  frictionless experience that users can have   i like that i'm really excited to check it out and  we will be leaving all links in the description   so everybody can just click through down in the  description you know you'll know it's the real   link um i'm curious to hear about the actual sov  token the sovereign token which has a fluctuating   value what is the use case for the sub token so  you never need to use solve to use the sovereign   platform right the protocol is permissionless  anyone can use it at any time and the base asset   is bitcoin but you can have stable coins you  can have e there's b and b even on the system   so why is there another token and the reason  there's another token is because when you are   building a decentralized system you're building  what you're really building is a rule set   right you're building the rules of the road for  the people who are going to be using the system   now bitcoin has taken like bitcoin main chain  has taken the approach of you are you're building   a rule setting everyone in the world needs to  be able to use and so uh and not only that it   needs to be money it needs to be like the most  reliable thing in the world like gold right so   gold doesn't change and so bitcoin doesn't change  and so you have this very very simple rule set now   on top of gold uh hundreds of years ago people  started building the financial system right   the financial system has more rules has um more  things that it needs to be able to do and so um   sovereign which is building its financial system  needs to have more rules and those need to be   able to change more frequently so there needs to  be a way of coming to consensus around how those   rules are going to work and maybe i'll take a  step back here for a second and say something   about sort of i think maybe the biggest thing i  think people are missing in the crypto space right   so i think most people have been looking  at the crypto space through the lens of   technology right we've been trained over  20 years of tech investing right that you   invest in tech net networks like like twitter or  facebook and you make a lot of money and so that's   the lens that people look at bitcoin and crypto  is sort of like a continuation of the internet   but the systems that we're building are not tech  products they're social institutions money is a   social institution finance is a social institution  these are not technologies these are rule sets   and i'll go a step further the key innovation in  bitcoin and in the entire crypto space is actually   really really simple um people say it's all kinds  of things like ethereum we've talked about a world   computer and bitcoiners i think are frequently  just as confused they talk about like digital   gold right use all of these metaphors but actually  there's just one really basic thing which bitcoin   invented which is digital property rights and  that's really important to understand because   up until now for the last 5 000 years of human  history the only way that you could protect your   property was through violence right either you had  to have like a gun or a club or you had to rely on   the police or a government and you  kind of pay them protection money   and so all law has relied on borders and  violence but we're living in a digital age now   borders don't make sense and violence can't  be applied at a distance so what we need for   a global digital world is a global digital type  of law and that's what basically bitcoin invented   the implications of changing our entire property  rights legal structure are very very narrow right   i mean it's not we're not building you know world  computers here we're building institutions and so   i think that's the lens that you have to look at  the entire crypto space as even as an investor you   have to invest saying what are the institutions  that are going to last and stand the test of time   and and that's really why bitcoin is so different  from other things and why i think d5 built on   bitcoin is different because it's designed  to stand the test of time as an institution   so yeah well i was just gonna and so it like and  so the saab token is a governance token and what   you're saying is allows the community then to set  those guidelines instead of one centralized entity   right but it's very careful about how it does  it right so it's not just one token one vote   and the reason is if you have one  token one vote you expose the system to   malicious manipulation so for example i  could go and borrow a whole bunch of tokens   vote on something vote on giving me a whole  bunch of money return the tokens didn't cost   me anything right i can manipulate the system  the other thing that you have to pay attention   to is the incentives right so for example  uni token right people can vote all day long   but they don't get anything for voting and so  um participation is quite low the incentives to   participate or to think carefully about  how you're going to do it are quite low   with sov token the way the system is designed  is you kind of have to mine the right to vote   what does that mean you have to lock up the sov  token to be able to vote you give up liquidity   but the longer you lock it up for the more voting  power you get now this does two things first of   all it means that even small token holders can  have more power by locking their tokens up for   longer second it forces everyone to have a very  very long term view right so it forces long-term   thinking for the entire system and three it  protects the system from short-term attacks   and then the incentive system is also aligned  around long-term thinking because the longer   you're locking your token up for the more revenue  you earn from the system so it's sort of a way of   instead of becoming a landlord right where you  just you don't have to you know you just got   a bunch of tokens and you can you can vote with  them and you can decide things it's kind of like   bitcoin mining you actually have to constantly  work constantly spend in order to participate   in the governance so you become a service  provider instead of sort of like a land bearer   interesting very interesting i like that i like  that what is the uh i is the biggest challenge in   the short term for sovereign is it onboarding  users or what would you say is the biggest   challenge yeah so i think right now sovereign is  you know it's a new protocol um it's um it's got   a lot of you know kinks to work out and so it's  not the easiest thing to use um it's uh sometimes   got you you know especially on the ui it's not  always the easiest thing to understand and so   i think it's going to be a little bit of time  before it really becomes easy to onboard everyone   but i the rate at which it's improving is  remarkable i don't think i've ever seen anything   certainly not in a decentralized space improve  at this rate right so i i remember using it   a few months ago like five months ago it was  basically unusable and now you can go check it   out for yourself it's like it's starting to  feel like a like like a centralized service   so that's definitely like the biggest challenge  that said usage is constantly growing uh it   turns out that it's a really really sticky  protocol so we can see that addresses that   interact with it um tend to continue  interacting with it at very very high rates   um and um and and there's growing traction  around it and the developer community that's   growing around it is growing at an astounding rate  too i actually don't think i think i've only seen   this level of excitement in the crypto space twice  before so once was the very very earliest days of   bitcoin when also was excruciating to try and use  bitcoin but it was kind of the best time to get in   and then also the very very early days of  ethereum when i remember you know vitalik   was going from town to town in these meetups  and just the level of excitement in the rooms   was crazy for something that hadn't hadn't even  launched and so i'm extremely optimistic about   something because i've seen this happen twice  before just the level of energy uh it's crazy   and let me ask you this what does success look  like for sovereign then in five years you know   the bull case what does that look like well i  think the first thing that sovereign's going   to probably be doing is um bringing that trillion  dollars of assets which in five years i think is   going to be like 10 trillion dollars of bitcoin  assets uh in um you know we've been seeing the   amount of bitcoin as a percentage on centralized  exchanges dropping now for over a year and a half   um we've seen celsius sort of get attacked by  the sec coinbase get attacked by the sec uh you   know um all of the big lending uh platforms  are are are being forced to shut down and   uh you know buy bit of pulled out of south  korea i think what's going to happen is people   um are going to realize that they can't use  decentralized services with reliability and we're   already starting to see that migration so like  you know we've got a lot of people who are using   sovereign who tell us you know yeah i was using  bitmix right and like i just like then you know   they they got indicted i don't know when  i don't have my funds there anymore right   um so i think that's going to be step one at the  same time there's sort of like a current building   out these tools which you really haven't seen  defy tackle before so there's a project which i   think maybe even within the coming year is going  to start offering like long-term pensions for   people in central america who can't rely on their  government so they can't invest in a pension but   now because it's controlled by a smart contract  they can i think um very soon we're likely to   start seeing things happening in el salvador uh  i think uh you know we're starting to see you   know there's a team from nigeria who are working  on fiat off-ramps for africa for remittance so i   think there's going to be a lot of like real world  use cases that are also going to be happening and   it's kind of going to be the same thing as what  we saw with bitcoin's growth right so it's like   a lot of like the bitcoin industry uh uh growing  and at the same time you know remittance and   other types of sort of uh use cases that are  just real-world use cases growing in parallel   very cool it's very exciting um again i encourage  everybody to follow up with sovereign uh you know   check the links in the description below follow  yaga on twitter we'll leave links to all that   stuff um i think you know you answered a lot of  my questions we just have probably a few more   big picture type questions um that i think a lot  of people in our audience are curious about um   the first one you kind of mentioned this the ussc  seems to be circling cryptocurrency the sharks are   circulating yeah um is regulation good for crypto  do you think regulatory clarity would bring no   massive amounts of institutional money into crypto  or what do you think about regulations in general   sometimes people say that countries will ban  bitcoin i think what's really going to happen is   that bitcoin is going to ban countries so i think  that the current state in it the way it is now is   basically a relic of the industrial age right  and we feel it all the time right like what's   happening with covert now right what happened in  2008 the lack of trust that everyone has in their   government the polarization the fact that left  and right wing politics just sounds so irrelevant   to our lives right on every single level they're  they're failing right our institutions are failing   can't deal with covert can't deal with global  warming can't deal with financial crises like   what's going on and what's going on is that our  institutions are just simply not designed for a   digital digital globalized world and that's  what we live in right now so i think it's   inevitable that that entire system is going  to be replaced uh or at least augmented by   the new institutions that we're building  in the crypto space institutions like big   brand like sovereign and additional things  that are being worked on uh and i think that   we don't need to be scared about regulation uh  because the harder they squeeze the faster this   is going to happen and the reason is like  let's say you know they put out um you know   central bank digital currencies right cbdc's right  and people are going to have this immediate thing   where they'll be able to say oh wow like this  is surveillance money and this is free money   right right now they've got cash imagine they  get rid of cash right everyone's going to need   crypto and then if they try to get crypto it's  only going to make people realize more that they   need the crypto institutions institutions are all  global right now if the u.s says you can't invest   in i mean you know u.s corporations we know  like the how much corporate tax do they pay   zero right we all know that u.s corporations  pay zero tax because they're just offshore   if the regulations say that u.s corporations  can't hold bitcoin they're just offshore the world   doesn't work with borders anymore now every  major significant player right the corporates   the the ngos and ourselves just like now  you know we can work remotely from wherever   uh uh live in a post-border world so the harder  they squeeze the faster it's going to accelerate   the process and you know this process is  you know it sounds like such a big thing   like such a mad idea that we're going to  replace big parts of our institutions right   but think about it this way it took 12 years  only 12 years for us to go from zero to nation   state with bitcoin think about what the  next 12 years are going to bring because   the whole thing is accelerating and as this  i totally agree with you that it's going to   one it's inevitable especially if you're in  the u.s and the harder they squeeze you know   the faster this will get done but as they're  augmenting this regulation or it's changing   if you have like one message for gary gensler as  somebody just somebody who's been in this space   for a while what would you tell them i i think i  have a very simple message for them which is this   for the last 20 years we've had the internet  everyone thought that the internet was going   to create phenomenal productivity growth it was  going to increase this rate at which the economy   grew because every single corporation every  single person was now connected to each other   they had digital access and access to information  and what did we see for the last 20 years we've   seen stagnation this is really weird why did this  happen and i think there's a really simple reason   the reason is that we had 21st century technology  the internet but it was married to iron age   institutions there is no private property on  the internet you are you are a surf in a feudal   system right your emperor is mark zuckerberg  or you know jeff bezos they control you the   person who owns the servers owns everything you  don't have private property now private property   and any us uh citizen right knows private property  is the source of prosperity it's what incentivizes   people to work is what creates innovation um it's  it's what drives people uh and and corporations to   grow and and and it does that by giving people  the assurance that what they create they'll   get to keep right so we had this 21st century  amazing technology the internet but we tied it   to the economic policy of the soviet union and so  instead of taking us forwards it took us backwards   now now we have digital property rights on the  internet right so we now have this 21st century   technology which is an infinite frontier right  and we have the property rights to go with it   we've already seen what that does in just ten  years we created a two trillion dollar industry   out of nothing we are entering into the greatest  period of wealth creation that human beings have   ever seen the people who are watching you  know altcoin daily are getting a once in a   thousand lifetimes opportunity to invest in a  point in time when you have an infinite frontier   and a new type of protecting property these things  don't happen ever right so we're going to see   hundreds of millions of trillion hundreds of  trillions of dollars worth of wealth created   over the next 10 15 years right there's never  been an opportunity like this so all i would   say to gary is do you want to be part of this  a lot it's inevitable i love that and i totally   agree that long-term perspective this train is  rolling it's happening just a fun question now   that we like to ask all our guests but for  the end of this year 2021 what's your uh   bitcoin price prediction i mean i don't typically  look at the price i i i bought my first bitcoins   at you know when they were trading at 3.50 right  i still haven't sold any uh and that's because i  

see this as you know generational wealth you know  and that's why i you know i have some ease and i   have some of the other things and i use them  to experiment and to play but it's not a way   that i can save my money right it's not something  that i know that my kids or my grandkids will be   able to inherit um so i don't really care but uh  whatever it is now 10 exit by the end of this year   i mean by the end of this year i wouldn't be  i mean i i wouldn't be surprised to see at a   quarter million dollars by the end of the year  damn i love it so you're telling me that you   know you've been in bitcoin a long time and  you've never sold any significant amount   i've never sold no i mean like i've maybe  sold a few hundred dollars worth of bitcoin   i love that will you i mean i'm never going to  have to sell like you gotta sovereign i'm not   going to be able to borrow against my bitcoin  at zero percent interest like true you never   have to sell bitcoin that's like it that is the  asset you know every generation has to make one   good decision your grandparents had to decide to  go to college they did that they could fudge up   everything else they'd be fine your parents had to  decide to buy a house didn't matter how much they   were underwater on the mortgage if they bought  a house in the 80s they're millionaires today   our generation has an even bigger opportunity  just by bitcoin right doesn't matter what you   do you're going to end up with fudge you money i  love that and that brings me to my final question   if you're a new investor coming into this space  today what's a piece of advice you would give   that new investor be an investor not a speculator  right so speculation is fun and it's cool but you   have to remember it's a casino right so so so you  only put casino money in right bitcoin is your   savings account 80 or more should be in bitcoin  the amount that you allocate to speculating on   other things that's casino money when you get into  this like most of people come in in bull markets   there's a lot of excitement and everyone has  fantasies of getting rich right there are very few   ways to get ric to get poor quicker than trying  to get rich quick right the people that i know   and and have met along this journey that  i've been on for the last 10 years who have   really made it are the people who have taken  a long-term view and have acted in the most   boring way possible and not just with bitcoin but  with the other assets as well you know people who   have taken a long-term view on ethereum so don't  be a speculator be an investor interesting i love   that and not to put you on the spot but also  just maybe to go a step further let's say you   were talking with your buddy at the bar who's  a more experienced investor someone closer to   somebody who's been in the space for a long  time what's a piece of advice you may give him are you someone who's been in the crypto  space you meet yeah like this you know   like a more experienced investor now because  that was really good advice i think for a new   uh you know person in cryptocurrency  but like for a more experienced person   yeah so what i would do for that person  is i would go back to what i said earlier   don't think of this as technology think about  this as building institutions right the paradigm   has changed we're not building the internet  anymore we're building what comes after the   internet right we're building the property rights  for an internet age so when you're looking at   opportunities to invest in space there are hidden  gems right those are the things that are building   fundamentally new institutions that are going  to be valuable and reliable into the future   i love that um iago thank you so much for joining  us today i feel i have such a better understanding   of sovereign and all the all the infrastructure  that's being built would you just give final   thoughts for the altcoin daily audience and final  thoughts about sovereign yeah so i i would say   this um the great thing about bitcoin the genie  or one of the many genius things that satoshi did   right is that it's a debt-free scheme dressed  up as a get rich quick scheme right so get rich   but the real thing here the real valuable thing  is to is to become sovereign is to become the   master of your own destiny to be able to help  yourself your family and the people close to you   achieve what they want to achieve so at the end  of the day i think the real opportunity here is to   stay sovereign hell yeah everybody needs to  check out sovereign check out the user interface   try it out for yourself um if you're if you  wanna you know do that uh i think it's an   awesome product follow yago on twitter and uh  you know we'll be we'll be keeping our audience   updated on sovereign for sure thanks for coming on  today ago thanks for having me it's been awesome

2021-09-29

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