Don't be expecting anything worth something.
It's worth nothing!
- You're ready for the Rate This Niche? - Yeah, let's do it.
I'm going to do, first, I'm just going to say the niche to you.
Just give me what are your first thoughts.
Cardano DeFi
I like it.
- You like it? I like it a lot. - Yeah.
- I like it a lot. - Yeah.
Well, I don't have a Cardano wallet hooked up,
so I'm not going to be able to, like, go through the steps,
but this is just a quick breakdown.
I'm not affiliated with the team.
This isn't any kind of sponsored endorsement.
This is just--
I have met the team at several Cardano events.
I like the team.
They're always out there.
And I'm about to bring up Minswap.
To me, it is the closest thing to Uniswap on--
Uniswap is for Ethereum.
Minswap is for Cardano.
So if you go to Minswap--
and always make sure, you know, you've got to be very careful with the URLs.
- Yes. - It's closed off right now,
but it's M-I-N-S-W-A-P, minswap.org.
When you open the app, it will go to app.minswap.org.
Don't trust Google.
Just be very careful.
You can look at, like, maybe the official Twitter account
or, you know, maybe a trusted person that makes content.
Check the link in their YouTube description.
So this is their site right here.
This is a, you know, it's a little bit more than what you would see on Uniswap.
And here are all the little trading pairs.
Yeah, you're trading in Cardano instead of ETH or USDT.
So you see there's the Minswap.
Look at that coin.
That is a hot coin.
If you were in Cardano DeFi, like me, you probably didn't buy any.
But, yeah, there's AGIX.
World Mobile Token has a huge fan base.
MELD
So you can go and you could trade.
This will take you to the Uniswap-style thing that you're used to.
You select your token.
I want to trade Cardano into, you know, this really hot AI coin.
You click on that.
And then, you know, you figure out what the--
figure out your slippage,
figure out everything and then get your trade go in there.
Also, this is what I do. I add liquidity.
We go to the pools here.
You add liquidity.
They have trading pairs.
Now, I'm not going to get into impermanent loss.
That's-- we have videos on that.
So you just type in "BitBoy impermanent loss,"
you'll find something there.
But you can add to the trading pairs,
and you'll earn something by what they call farming.
So if you go to Farm, you'll click this,
this breaks down the trading pairs and what they give you.
You see the APR right here on the top right.
APR 50%
That is very surprising.
That means, you know, I don't know if AGIX is going to go down,
but, you know, that's a lot of people probably being incentivized to stake this.
So just be careful.
And you will earn rewards.
This trading pair will give you Minswap, Cardano and AGIX as a reward.
I trade, or I farm, just full disclosure, I do ADA-MIN, I do ADA-WMT,
I do--
I just undid my Liqwid Finance.
I might jump back into it.
I don't do SOCIETY, although I do stake my Ape there.
I do DJED.
I just did that.
That is a stablecoin that--
it's actually like $1.03.
Look at that juicy APR.
To me, it's pretty safe.
I stake some ADA and some dollars.
To me, I just kind of set it and forget it.
And there's one more.
We do like the HOSKY team.
Junkies, you know, if you're holding a Junkie,
hey, don't be surprised if you see HOSKY.
Maybe not. It's worth nothing though.
So don't be--
don't be expecting anything worth something.
It's worth nothing!
And then I can't find the next one.
You have to go down and you'll see different ones here.
LOBSTER, another meme coin.
So you go there and then you'll just earn rewards
and then you could just--
you'll do what they call harvesting.
So you add liquidity,
you'll get liquidity pool tokens,
and then with those tokens,
you go to this Farm page,
and then you'll stake it,
and then you'd go buy this and see "staked only"
and then you could filter it by that way,
then it's not confusing.
And then that's basically just a summation of Cardano DeFi.
If you're not used to DeFi,
do a lot of research.
Don't just jump in.
You need to know what impermanent loss is.
TJ, do you have like a 10-second explanation of impermanent loss?
- I could do one. I like to see what you-- - Yeah, I know. You go ahead.
You go ahead.
You put up, say, Ethereum and a coin.
If that coin-- and it's $1,000 worth.
You have $500 Ethereum,
you have $500 of random altcoin
you submitted in there.
If Ethereum goes up in price,
when you pull out, you're going to no longer have a 50-50 split.
If Ethereum goes down in price relative the alt,
that will also affect it in the inverse relationship.
So if you really value ETH,
and then all of a sudden, you know, the price tanks,
you're going to walk away with less ETH.
So you've got to be real careful.
You'll say, "Hey, I had $500 of ETH.
And now, I put in $1,000,
and now I'm taking out $600 worth?
And it's less? And where'd all my ETH go?"
So just check out impermanent loss.
You could get burnt.
But when you see some juicy APRs,
and I normally say you want to stay below 20% APR,
but, you know, this is Cardano DeFi.
When it's a niche ecosystem like this,
it can support a 30%, you know, for maybe a few months.
Again, not financial advice.
Just be careful.
You need to watch it carefully.
And only do it if you want to promote free speech
and you want to promote the Cardano community.
Don't do it trying to make a moon bag.
I do it because I like to Cardano community.
I like to walk the walk and not just talk the talk.
So that's my breakdown for Cardano DeFi.
Let me know what you think.
Do you guys like Cardano DeFi?
What's your favorite Cardano altcoin?
Type it in below.
I'll go and say mine.
I like--
I like Charli3.
It's the Chainlink of Cardano.
It's a fairly larger market cap.
Do you know any Cardano alts you might be interested?
Not low cap. I mean, AGIX is the main one that I would know.
- So, like-- - Yeah.
I mean, AGIX, it's hard to miss that one.
- COTI, I guess. - Alright, alright.
Well, let's do a little AI talk here.
We have the big, big announcement from Google.
And they're beginning opening access to its ChatGPT competitor Bard.
This has been in the works for years and years and years,
but when ChatGPT just blew up and hit 100 million users super, super fast,
I think they accelerated their public test.
And so that's maybe why we're seeing it when we're seeing it here.
Starting in the US and UK,
they can join the waiting list for the English-language access to Bard,
previously opened to approved testers only.
They describe it as an experiment allowing collaboration with generative AI,
technology that relies on past data to create rather than identify content.
Just last week, Google and Microsoft made a flurry of announcements on AI,
two days apart.
They're putting draft-writing technology into their word processors
and other collaboration software,
as well as marketing related tools for web developers
to build their own AI-based applications.
In a demonstration of the site, bard.google.com, to Reuters,
they showed how the program produces blocks of text in an instant,
different from how ChatGPT types out answers word by word.
Unlike ChatGPT, they're not proficient in generating computer code,
they said on its website.
They also said it has limited their memory of past exchanges in a chat
and that at present it was not using Bard for advertising,
core to Google's business model.
I think it's going to be good.
I need to go ahead and sign up for that testnet.
Are you going to do the same?
Sure, why not?
Do you use ChatGPT at all?
I did. I use it a ton when it first came out.
I haven't played with it as much recently.
But, yeah, I would say I play with it more than I "use" it.
But, yeah, I think it's-- I'm very intrigued by it.
Alright. A lot of the Cardano community likes VY Finance and Cornucopias.
COPI
I do like COPI. I like the COPI team.
Charles Hoskinson gave it the seal of approval.
It is a metaverse project on Cardano that actually has a racing game in beta.
I've seen people play it.
I haven't played it myself.
I don't think you could test it right now.
But they brought the consoles.
They brought all these PCs to a Cardano event.
They had, I think, eight people racing at once.
So they seem to be further along than most projects "building" a metaverse.
There's only a few that actually have, like, some sort of workable product.
Alright.
Bill Gates, of course, he has something to say on AI.
There will be an AI that does "everything that a human brain can,"
except for the limits that they're going to put on it, of course.
True to form, he's already thinking about the next big thing in tech.
It is buying all the farmland!
Oh, I'm sorry, in tech, not agriculture.
"Superintelligent AIs are in our future," he said in a new post on his blog Tuesday.
He believes that people will see AI on par with the capabilities of a human brain
10 to 100 years from now.
Okay, Bill, I think you can narrow down that window just a little bit more.
Aren't you like a 180 IQ or something?
To be sure, Microsoft is making a huge bet today that the future will be heavily reliant on AI.
In early February, tthey unveiled a new version of its Bing search engine
that runs on a beefed-up version of ChatGPT's natural language AI technology.
Last week, they said it would add ChatGPT to its 365 suite of business software.
This is including Word, PowerPoint and Excel.
The ChatGPT stuff I've seen with Excel is pretty powerful.
You know, Decker, I know he's sweating it right now.
Salesforce announced Einstein GPT this month,
which it says is the world's first generative AI customer relationship management technology.
Salesforce said Einstein GPT can generate personalized emails for salespeople
to fire off to customers and create specific responses for key customer questions.
It will also be capable of auto-generating code for developers.