The R Roundup Presents: Looking At The Crypto Economy In All Angles With DeFiHustle — 29/05/22 👉 19:30 UTC
Following on from our pursuit of trying to provide the crypto space with as much unique content as possible while also providing consistent and authentic news, we have a very special guest to join us for this article.
Previously we have dissected teams and the way they came about building their projects but we have also given people an opportunity to express their passions for crypto in many different ways.
This week we have the first blend of both of those things together as we will be giving a perspective on the markets from a valuable member of the crypto Twitter community. There is a lot of knowledge in the space that goes unnoticed and part of our mission is to unroot that habit.
DeFi Hustle is a crypto hub run by founder Zak where he provides in-depth content and analysis on all aspects of the crypto markets. With over 100 project maps and frequent macro economical analysis, DeFi Hustle exposes the level of commitment needed to provide the content which he does.
In today’s article, we have @Russian DeFi sharing & DeFi Hustle (Zak) going in-depth into all sides of the market as well as dissecting some interesting myths and truths of the market.
Without much more delay…
Russian DeFi: I can’t wait to get started but honestly this is a new style where instead of me being passive I give my opinion more and engage in the discourse with our guest but without much delay Zak let’s introduce you!
DeFiHustle (Zak): First off appreciate you having me here. I’ve enjoyed a lot of your work from when I first came onto CT so being able to chat with you is cool.
People might know me through my telegram channel DeFiHustle, my Twitter @santanszn or maybe just my name Zak. I’ve been a cryptocurrency investor since 2018 which not a lot of people know, so I’ve been in the scene for a while. I came into crypto Twitter specifically in 2021 and created what is now you could say my brand in DeFiHustle where my telegram group has over 800 subscribers.
I post analysis, educational content and lots more. All of this is accompanied by my website defihustle.co.uk where I have put a lot of time into creating fundamental education including project blueprints, economic analysis and more.
More recently and personally, I am also an aspiring forex trader since the whole ‘funded accounts’ came around. So through DeFiHustle I am creating content for my community whilst also trading forex, and that’s just the tip of the iceberg about myself.
Russian DeFi: Being in the space literally since late 2020 it’s crazy to hear that my work is of interest to a quote on quote 2018 og 😂. DeFiHustle is honestly something I came across recently and it was like a moment of relief seeing such effort going into creating content for FREE which is something you forgot to add.
Going more into DeFiHustle, What inspired you to start sharing content in an extended writing form because it seems like the markets under-appreciate that side of things so what motivated you regardless of how the macro responds?
DeFiHustle (Zak): Lol Nah bro I wouldn’t even say I’m an OG. I invested the little capital I had because I was 15/16 back then but it’s paid off more recently lol.
But honestly, I’ve always wanted to create my own type of community and being in crypto for a while helped me see what the environment was missing. Especially on Twitter in 2021 many of the new people in the scene saw crazy percentages and didn’t care much for the educational side of things.
Additionally, any content or extended writing being offered was 99% of the time, behind a hefty paywall. I saw this as an opportunity to start providing a free service where people who are serious about being in crypto for the long term, could sit down read, take notes and fill their brains with the correct information.
I started reading properly after finishing exams which fuelled my motivation to write these articles and create information, so I guess to sum it up... I genuinely enjoy what I am doing at the moment, although I think your use of the word under-appreciated does sit with me a lot. My channel is strictly for people who are willing to put in time and effort to educate themselves and if the content I make benefits their journey then I am happy.
Russian DeFi: I resonate with that quite a bit because I always found that the in-depth content wasn’t as accessible as it should be. When you start writing extend analysis on markets, it starts to become almost second nature.
Going that bit deeper into DeFiHustle, You recently did an article on “Is Bitcoin A Government Creation?” & I think this is a very interesting angle of the markets. What do you think about the level of manipulation and the role of government bodies in crypto?
Is Bitcoin a Government creation? - DeFiHustle
Before you read anything. Yes, this is all conspiracy and all for fun and I myself am heavily invested in crypto. Just…
DeFiHustle (Zak): Exactly bro and that’s why I took inspiration from yourself once I came into ct. I could certainly see your angle and the goal of The Russian Roundup
In terms of manipulation, I mean honestly bro. Anyone who says the crypto market isn’t manipulated is extremely dense to put it simply😂. I think anyone who has even the slightest knowledge of economics and how the governments love to intervene with anything that doesn’t benefit themselves, will know how deeply manipulated the markets are at the moment. We can see now how correlated bitcoin is with the stock market. It almost reflects the movement of the S&P like a lagging indicator. This alone tells us institutions mirror the liquidity flow of the S&P with Bitcoin.
It’s a sad state of affairs because we all want crypto to act alone and almost be its own market but unfortunately, it’s just how the world works, and why I wrote that article on bitcoin being a possible government creation. After learning more about macroeconomics and financial resets from history, I went down a rabbit hole of conspiracies and Bitcoin being a creation by the higher-ups honestly wouldn’t surprise me. My question remains of why the NSA and governments would ever allow such a decentralised system that directly competes with them to exist so freely? It still doesn’t sit right with me but I doubt we will ever find out lol.
Overall though, I think regulation will take a step up over the next couple of years where we see an introduction of CBDCs and a possible financial reset. One thing people underestimate is the sheer power financial conglomerates like Black Rock and Vanguard hold over us and this is why I have a huge passion for the crypto industry in general tbh. The system we all live in is significantly flawed and split to say the very least.
Russian DeFi: I think there’s no one else I wanted to go down this rabbit hole with because previously, I’ve kind of noticed my bias for decentralisation and it’s hindered my ability to gain an edge using macroeconomics when analysing crypto in general. More than ever I’ve even seen people speak about the connections that $BTC has to tech stocks which then again poses the question you raised about how truly different is tradfi markets to the “decentralisation” we all run towards.
Flaws in the system are always going to be there, it’s the unfortunate nature of society and more than ever I think we are watching the institutions, banks & governments leaving their footprint on the new asset class.
Following on from the conversation about macroeconomics, what do you think the importance of having some kind of knowledge of all financial markets is and would you say it can give you an advantage?
Also, what are some of your experiences with macroeconomics tying up with crypto?
DeFiHustle(Zak): 100% bro. There’s a heavy bias within the space and it’s blocking people's perspective on how to read the markets. Investors seem to believe that crypto is a completely separate market when it, unfortunately, is not. And that’s what learning more about economics has taught me. Because honestly man, it’s one of the important aspects that anyone trading or wanting to be in crypto for a long time learns at least the basics of the economy. Because bro, even like now, for example, the very reason we’re in the bear market is heavily down to the way the global economy is at the moment. We are seeing inflation figures at 8.3% always seemingly over what is forecasted, yield curves inverting, the FED issuing the biggest rate hike in 20 years, consumer sentiment at all-time lows and way way more. The importance is paramount bro honestly and I would urge anyone looking to learn.
I have to give props to people like @paradox_y1 and @pipdealerr because they inspired me to delve deep into how it was all the linked. Their threads on Twitter are a great place to start where you can gain an advantage over how you read the markets. Also reading I’d say is essential, books like economics for dummies, naked economics and the great economist helped me.
An example is: how do crypto investors analyse $BTC at the moment?
It’s always through just a bitcoin chart, right?
Learning about the economy helped me see the correlation between the S&P 500 and BTC so from now on I look at the stock market, gold price and bond prices before I even take a glimpse at BTC and that gives me a good gauge on what to expect.
Russian DeFi: I think if there ever is a time that can be a firm indication that there is some form of correlation between macroeconomics and the market it's now because as you said, following on from a pandemic and geopolitical tensions it’s all a boiling pot of financial uncertainty.
I'm certainly taking that advice and going to try and gain an edge because it certainly looks like it has and will continue to give those who can analyse it an edge.
Moving on from S&P 500 and $BTC, this has been a very eventful week in crypto with $LUNA & $UST. We can’t ignore what went on with the $UST depeg which saw a lot of defi junkies like myself almost weathering the storm😂
What’s your take on luna and the algorithmic stablecoin trend and do you think this has led to an air of distrust about what they are building and regained people's trust in the original stables like $USDC, $USDT that already have a stormy cloud above them?
DeFiHustle(Zak): You said it perfectly bro. It gives investors a huge edge over retail. It’s all good using FOMOC meetings and inflating readings as indicators to see where BTC goes but going deeper into things such as funding rates, GDP and employment data will honestly give you that edge others don’t necessarily bother to look at.
On $LUNA and UST, Bro…honestly, I’m gutted. 😭😭😭😭I was one of the investors who took on what Terra was building and supported the project since 2021. I even wrote an article, (I acc think it’s my most clicked😓) on why investors SHOULD be in UST over other stables. So it’s so peak what’s happened.
$LUNA itself, I saw as a great project, being an independent L1 PoS Blockchain gave it huge potential. The intention to push crypto by focusing on mass payments and capping fees at 1% was all clear as well. Also, Terra’s protocol anchor offered a significant 20% APY for investors so I didn’t expect what happened to ever happen in a million years.😭
The reason I shilled $UST so much was because I believed in how algorithmic stable coins worked. I researched flaws in the reserve backed stables like $USDC and $USDT and saw $UST as the only potential successor. The fact that $LUNA had so much utility in terms of being used to pay fees for transactions, used for governance votes as well as earning yields on lending protocols.. again I would’ve never anticipated what happened. 🤦🏽♂️🤦🏽♂️ still bugs me now honestly. I still believe that the only way for us to keep this decentralised economy fully decentralised is to have a stable coin with a decentralised backing. I see now that Terra having BTC and LUNA as its reserves could be easily manipulated and taken advantage of in the flawed mechanics. I think honestly Luna can’t come back, although I’m hearing they announced they may fork the chain. In terms of the trust, however, it’s surely gone lol. But we know crypto investors and their hopium, so I wouldn’t put it past “LUNAtics” to rise back.
I believe in algo stables but maybe it’s one for the future when bitcoin is a stable store of value and volatility has died down.
But I mean bro, regardless of the fall in $UST and LUNA we shouldn’t brush away still very evident red flags in $USDT and $USDC. Tether evading audits? Is USDC being managed primarily by Black Rock? 🤔🤔 I hope for crypto’s sake Tether stays above water.
Russian DeFi: I don’t think you are alone in being a supporter for $UST as I looked so deep into the issues with traditional stables I fell into a sense of security that algo backed stables were much safer to the user. Clearly, we were both wrong. However, there is no doubt that this situation just expresses a further emphasis and attention on $USDT & $USDC as you said because they aren’t innocent too.
Tether sinking would certainly be a monumental moment for crypto but it certainly wouldn’t be unexpected. People like to be wise after the event but there is no doubt there are major risks in even trying to be stable in the markets.
Interestingly we did this article at the perfect time cause we are finally seeing some kind of movement even though it’s to the downside, how do you see the rest of the market playing out through the remainder of 2022 following on from this $LUNA capitulation?
DeFiHustle(Zak): For sure bro. I just really hope the spotlight isn't solely fixed on UST and that we see people start to pick at $USDT and $USDC too. I guess overall it shows in crypto anything can happen.
In terms of how I see the remainder of 2022 playing out, it’s honestly very hard to predict bro. Seeing how manipulated everything is now it’s almost impossible for anyone to call the bottom or predict a reversal. I want us to have a relief rally soon before sweeping lows below 20k. I really do think we can go that low bro honestly.
When I consider the market environment we’re in at the moment, it wouldn’t surprise me. This high inflation environment is enough to rug the whole market and I think that + a potential Tether collapse could capitulate markets all around, but maybe that’s just the conspiracist in me talking 😂😂. On a level though, I think the end of 2022 or the beginning of 2023 could be the start of the next bull run for crypto, that’s what I want to see anyway and what I will load up for.
Russian DeFi: A lot of people have been calling on that end of Q3/4 in 2022 being quite bullish and it's interesting because last year we did something similar with that May crash where we saw the markets slow down, reset and go again.
I'm of the firm belief that we are in too much of a matured market to be stuck to that 4-year cycle and the level of leverage in the markets, we only need to spike to certain levels to liquidate millions and millions and millions of $USD from the markets.
I’ve been looking at the ’20s with some intent since November 2021 so hopefully, as you said, there’s some ability to capitalise off the opportunity this market does have which people forget in these conditions.
Talking about “what you will load up for” If an experienced TRADER who has never bought on the spot market before asked how to “INVEST” in the bear market the “Defihustle” way what would you direct them to/suggest for them to do to maximise off that opportunity I was referring too?
DefiHustle(Zak): As you said, bro, the market now is primarily pumped with volume through futures and leverage. I have the same belief as you that the market is far too mature now to follow those 4-year cycles. I believe this will be the last real chance retail has to make that “generational wealth” as many say, for a while.
If a trader approached me and asked how to invest in the market the DeFiHustle way I’d say identifying the good from the bad projects is the most important thing. You can do this through my website where I have over 100 blueprints for projects. Each has detailed descriptions of the team, utility and roadmap so they can be aware of where their money is going.
I’d also say don’t over or under saturate your portfolio. Keep a balance between how much capital you have to invest with how many projects you invest into. I’d also say if you don’t have much capital, remember that compounding is your best friend. Compound your profits after every 20% move up, once the markets turn bullish obviously, and with a consistent game plan, it can be very rewarding.
Lastly, have fun. Crypto can make you very desensitised to the value of money so don’t hold back in withdrawing some profits and treating yourself. After all, that’s what money is for right?
Russian DeFi: I don’t think that’s emphasised enough the idea of withdrawing profits back to your bank account. We do not realise how desensitised all of us have become to money through valuing tokens in so many different ways like FDV, TVL & Marketcap we forget that £1 profits in your bank are £1 you can spend that the markets cannot take back from you.
That's a very strategic manner of investing and I think that’s honestly the best way to approach the markets. I myself have so many times done things without a strategy and it has always burned my portfolio.
It’s been a great chat so far I’ve loved every second of it but as we start to wrap up, as you said you have 100+ project blueprints on your site which is very impressive.
There is so much information and deep detailed resources that you provide for FREE as I keep reiterating. This is something that I love to see in the space but I know how tasking it is so I’d like to ask what keeps you going in conditions like we are in now?
DefiHustle(Zak): It’s very toxic. We as investors have a strict belief when we start investing to make as much money as possible and forget the reason we do this is to have better financial stability. If you make profits always remember to withdraw I urge that to everyone.
What keeps me going? Honestly man, I just love crypto init😂😂. It’s genuinely as simple as that. I enjoy writing, I enjoy creating content and I’m gassed for where the space can go. Also having messages of support do help when you’re creating free content because it shows you’re making a difference big or small.
With the market being down it just fuels me because I know there’s an even greater opportunity. Bear markets are for opportunities as they say, and if my content is helping people make the right investments then I can sleep well at night.
I agree with you in terms of providing free content can be very tasking tho, and maybe soon I may introduce a new program from defihustle, for the people that have supported me but until then, I’ll keep it stepping 🚶🏽♂️
Russian DeFi: There needs to be a degree of dedication to keep yourself striving and continue doing what you love even in these conditions. I have similar ethics/ethos to what keeps me going in these conditions and more than ever people should be dialled into the idea of structuring their journey through crypto.
As you said there at the end you may introduce a new program which leads me perfectly to my final question for you today which is what is essentially your aims for DeFi Hustle & what would you like to be remembered for in this emerging crypto-economy regardless of what it becomes?
DeFiHustle(Zak): I want to carry on creating content for the loyal subs in my group. Defo reaching 1000 subs is a big milestone of mine which I want to see by the end of the year. I’m hoping with a growing audience I can introduce bigger plans such as private sales and eventually dwelling into the VC sector.
Becoming more successful through forex will also open up another avenue in terms of possible mentoring. For what I’d want to be remembered for in this growing economy, I’d say I want to create a hub where if you’re new to crypto and you’re struggling, you have somewhere that will provide you with all the info you’ll need for free. Elevating that “free game train” is my goal and I hope I can reach that eventually.
Russian DeFi: I hope you achieve those goals because certainly there is so much room for furthering your expertise in crypto and in such an undeveloped market there is an endless opportunity as I keep reiterating.
It’s been a very insightful chat and I’ve learned so much from just asking you deeper what it is you do. So it’s been great to have you, Zak!
Share all of your links where anyone reading this, can find out more about DeFi Hustle and what you’re building!
DeFiHustle(Zak): Thanks Russian I really appreciate it! Was a pleasure speaking with you.
Telegram group: https://t.me/+YFPb3u-lWhdhNTE0
As a reminder this is not a trading signal, it is an opinion and each trader/investor should know and understand the risks attached to trading. At no point should this be regarded as financial advice
Telegram Chat: https://t.me/RussianRoundupChat
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Russian Defi: https://twitter.com/RussianDefi