How I Would Invest $1,000 in Cryptocurrency to get Rich | Piers Ridyard Explains

all right next i i appreciate you being so candid and uh you know playing ball with us on this another just fun question not financial advice just fun thought experiment if you were starting with only one thousand dollars to your name today how would you invest that one thousand dollars into the crypto market with the goal of becoming wealthy interesting okay um side note does do i care if i lose the thousand dollars how important is the thousand dollars to me it's i think it's your investable for money it's my investable capital but i'm not gonna go hungry if i if i lose it okay all right as long as as long as it's money that i'm willing to lose um i would probably concentrate on it's a really good question um thousand bucks in in if you're if you're dealing with d5 ethereum is not a huge amount of money because you have to pay all the gas fees which could be massive um so it would probably still just be buying tokens on an exchange um and i would probably weight it 30 bitcoin 20 ethereum um because i think those guys have got decent up checks side and then i would have 10 on uh 10 on some of the mean coins so i probably go 10 on shiva and then on the other ones i would then go with the sort of the projects that i think are like strongest in in the combination of things that matter in d5 so like community building and innovation so like i'd definitely get some rv 10 10 in synthetics because i think synthetics is underpriced at the moment and then 10 in abracadabra money because i just think it's awesome not afraid to take a small allocation in the meme coins i respect it that's no i no man like i think that i think that it's um like what is it the the idea that the funniest outcome is also the most likely within a like highly connected social world like i i still think that they i think that people i think it's their i think it's their entry level drug and like and and when and when the market is going up you get lots of new entrants into into crypto and there's lots of people sitting there on their first coinbase account and going there's one called doge there's one called shiva i'll buy it so i think that's going to drive it just because you know 100 bucks from a million people is a lot of money when aunt is added up and people just think it's funny and uh why did you say you in your opinion synthetics is undervalued what is it about that so like the synthetics team were one of the earlier defy builders um and like they are one of the few ones that sort of actually properly understand traditional financial products as well as like the so i call it there's this thing called i call the d5 way of building right so there's like there's a bunch of d5 primitives that you kind of have to understand to be able to build d5 some of these are things like pools and shares like the idea of pooling things together where you don't like in finance you have this concept of one-to-one uh product so i will sell you a loan and it's you have a loan and i am the i'm the person loaning to you right um whereas whereas defy skips straight to the secondary concept of securitization where it's like a pool of loans i have a pool of loans and i own a share of that pool of loans or i own a share of that pool of assets which completely changes how you build financial products and also allows like emergent pricing to occur so like the the the lending rate of usdc on on rv changes moment to moment based on the the the two-sided market but people are willing to lend at that rate the people who want to borrow that rate to get leverage in the market and so that that percentage rate isn't being set by an individual taking your view or even an algorithm it's being set real time by the market in terms of what's called a shelling point um at any given time that's really important that's a really important concept that most people from traditional finance just don't get as a starting point uh and then there's a bunch of other things that sort of matter in terms of your optimizations but then in finance itself finance is a really robust difficult area of human endeavor that like is really deep and there's lots of complicated concepts synthetics has bridged both they were like super early into liquidity mining they understand the concept of like aggregated uh emergent pricing but they also like have created a very complicated from a financial point of view financial product and like if anyone is gonna get get finance and d5 together and start building some really interesting stuff which they've already started with but continue building some really interesting stuff i think it's gonna be the synthetics steam and there's been like a lot of like recent fart around synthetics not doing much and like being a bit like and not being pumpy right but i actually really back the team i think they're great yes great perspective to watch the full conversation there is a link down below in the video description and if you're interested in learning 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