Get Back to the Roots … of Crypto

Each week, the Weiss Crypto Sunday Special brings you actionable video content on the hottest macro trends in crypto. 

That often includes a video interview with a highly respected expert in the crypto world. But in this special edition, host Chris Coney is going rogue — carrying this video all by his lonesome. 

This week, Chris is geeking out with some root cause analysis of crypto investing and the decentralized finance (DeFi) revolution.

Would you believe, though, that there’s still more to geek out over? So much more ... while there are significant gains available in the macro and DeFi arenas, there’s still a place for micro-level intel. 

And in this info-packed video, Chris shares three critical “roots” that when put together become a super-powerful combo for creating crypto greatness.  

Get ready to build a strong foundation for crypto and DeFi — the potential for which is immeasurable. Look, our Weiss Crypto Portfolio subscribers can’t enough of these goodies. Now it’s your turn.

Branch out into the crypto revolution with Chris’ genius ideas in this video or take a gander at the full transcript... 

Chris Coney:

Hi there, guys. Welcome to this week’s edition of the Weiss Crypto Sunday Special with me, your host, Chris Coney.

I’m doing a solo today because I have this sketchbook where I put all of my ideas and concepts in. And these things are kind of hard to communicate in discussion format. 

So today, I’ve taken one of these ideas so I can present it to you directly.

Now I’ve called this episode “The Root of All Crypto Investing Greatness,” which initially might sound 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 I always have been. It’s just how my mind works. 

And the reason I’m so engaged in the crypto investing space is because, once I identified this route of all crypto investing greatness, I was sold. 

Now, macroeconomic analysis is nice and is often preferred because you can summarize a lot of what’s going on, on a micro-level using that macro analysis.

However, I was never totally at ease staying on the macro level because, in order for me to have confidence in my macro analysis, I needed to also understand the foundation that it was built on. 

Then if the macro analysis makes sense when built on the micro, then I have a very solid structure to build on. 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 set up and investing in crypto and the DeFi ecosystem for these significant gains that are available. 

But I suspected that many people were still left with micro-level questions like why crypto and DeFi investing leads to those huge gains. 

What is it specifically about crypto or DeFi that has opened up Pandora’s box? 

•  That brings us to what I identified as The Root of All Crypto Investing Greatness. So here it is.

There are three 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. 

It’s what arises by combining these three roots together that creates this tree trunk. And it’s from there that all the rest of crypto and DeFi branches emerge. 

So what are those three roots? 

•  The first is private key cryptography. 

So, 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 any physical key and have as few copies of it as possible. Only giving copies of that key to the people you trust the most. 

Now without getting too technical, a private key allows you to lock 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’s part one; 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 only they know. And 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’s part two, smart contracts.

•  In the third part is blockchain technology. 

This is essentially a database of transactions that tracks the ownership of digital assets. And 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.

So a blockchain creates an audit trail for every asset. So you can see the chain of ownership going all the way back to the asset’s original creation. 

This database of asset ownership is then 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. 

A transaction is just any time one of those private keys is used to unlock its digital vault, take out an asset and then transfer ownership to another digital vault which has its own key. 

So that’s part three, blockchains.

•  So the Root of All Crypto Investing Greatness is the combination of these three things:

Private keys — the ability to custody your own assets. 

Smart contracts — the removal of all trust from transactions using these automated middlemen.

And then blockchains — the recording of every single transaction to create a system of total accountability.

•  The combination of these three things provides the foundational trunk for all crypto and DeFi investing greatness. 

What that makes possible is so revolutionary that we have barely begun to tap its potential. And that is why the growth in crypto and DeFi is explosive but in proportion. 

Now the number of branches, the colors of the leaves and all the variety of flowers that you see, all stem from this trunk made up of those three roots at the very base. 

And that is why I call them the Roots of All Crypto Investing Greatness.

So that’s going to do it for this week’s edition of the Weiss Crypto Sunday Special. Keep an eye on your inbox for next week’s episode. But until then, it’s me, Chris Coney, saying bye for now.

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