Educating on the Current Conditions of Crypto Feat: Derwin Logan

Dustin Steffey: 0:00

Hello chop nation Dustin Steffey here, Jayden and I are both excited and wanted to share some big news with you all. As of right now, voting is open for the People's Choice Awards and chopping with fire is up for nominations for Best Overall business podcast, and Best Overall podcasts. If you all could please help us out and go to www dot pod cast awards.com. That's www.podcastawards.com. We will also conveniently have that link in our episode descriptions for the month of July for each of you to be able to click on for easier access to register. Again, Jaden, and I can't thank you all now for supporting our show and allowing us to continue to bring you guys quality content. So if you guys could please help us out as we go down the journey to try to get a People's Choice Award. Please go ahead and go to that website and register today.

Jaden Norvell: 1:02

This is the best stop for entrepreneurship and self development talk hosted by the doctor himself Dr. Dustin Steffey co hosted by entrepreneur, and sports talk host Jayden rush, Norville, this is

Dustin Steffey: 1:41

Hello, and welcome to another episode of chopping with fire. You're joined with your hosts Dustin Steffey and

Jaden Norvell: 1:47

Jaden Norvell sup chop nation.

Dustin Steffey: 1:50

How you doing Jaden, you're back from Wisconsin. You made it you made it on that 13 and a half hour drive.

Jaden Norvell: 1:56

I did I only hit there was like rain. So it was raining so hard. And I, my windows were fogging up and everybody's passing me and I couldn't figure out like why. And so I hit I hit like a side of a trailer. And was I survive. I'm delighted pull over the side of the road. It was crazy. But I survived. I'm here. I got about 100 mosquito bites from Wisconsin, but I'm feeling good. And it's good to be back.

Dustin Steffey: 2:23

So when you say you hit the side of a trailer you like actually struck it or you were like driving to the side of it. So the wind, the rain wasn't hitting, you

Jaden Norvell: 2:32

know, the trailer was going this way. And I couldn't see like from here to my laptop damn near and we just he like got in my lane. My right side of the car just scraped the side of his trailer. And then he just kept driving. And I was like, Okay,

Dustin Steffey: 2:46

you have the you have the worst luck when it comes to keeping your car not in an accident. And that's

Jaden Norvell: 2:52

out of that situation. That was the best thing that could have happened, honestly. Well,

Dustin Steffey: 2:57

yeah. Because the alternative would be I wouldn't be talking to my body.

Jaden Norvell: 3:03

I'd be on the side of the road somewhere between Wisconsin and Colorado.

Dustin Steffey: 3:07

Well, I would hope that you would give me a phone call at least get Yeah, cool. Yeah. I need you to drive 14 hours and I don't hit this trailer.

Jaden Norvell: 3:20

By the way, you can't see because it's raining.

Dustin Steffey: 3:24

Oh my goodness. While we got a good episode today, buddy. We are going to have Derwin on in a second here. After we go through kind of a few housekeeping things. We're going to talk about this crypto crash a lot of people in our community have been asking like, why is it doing this? See, I told you so all the like kind of sort of things that we've been hearing, and we want to put some minds at ease. We have people that are invested in it. And people that aren't investing in it because of what's going on which I feel like this is the perfect opportunity to get coins that were really, really doing well. Cheap right now. And then watch it come back up. I mean, the Aetherium dropped from I think the last time we did crypto, it was at about $4,500 and it was yesterday about 1900 That's pretty inexpensive for one Aetherium coin. Bitcoin has dropped significantly as well. I mean, this is a good time to kind of get in in the early stages, because we're still very much so in new stages, in my opinion, to be able to pop up but again, I will leave that for the professional because I am not a professional financial advisor. I don't think any one of us three are professional financial advisors. Again, it's just advice to take and kind of take at your own risk. Darwin's very successful so his advice matters to me and matters to us. So that's kind of where we're going had with the episode but first and foremost, I know you have a few housekeeping things Jaden, you want to go ahead and like bring them up.

Jaden Norvell: 5:06

Yeah, and about the crypto. So we've influenced people to invest. So we're doing our duty and letting you know what's going on. And also, if you guys hear any terms or something you don't understand, you can visit our website, www dot chaplain with feiyr.com. And all our previous episodes on crypto are on there, so you guys can catch up, study up. So housekeeping, we've been nominated for a People's Choice Award, which is huge within our first seven months, as a podcast, me and us and we're very humbled. And you guys have shown us so much love. It's, it's ridiculous. And so we want to help ourselves and also help you guys because we need to get bigger, you know, we still need some stuff. And this is a good opportunity for us to gain sponsorship and awareness to what we do here at shopping. So you guys need to go to www dot podcast awards.com You're going to click nomination votings you're going to enter your email under the categories of Best Business Podcast. And what was the other one best overall podcast. You're going to scroll down and hit shopping with fire drill easy takes about five minutes. And it will mean the world to us. And as always, like comment, all that good stuff. Speaking of you guys giving back like Dustin said, You guys have been killing it. Persisting fibrosis, our home charity, you've already raised over, I think over 2000 At this point, right, Dustin? Yep. So keep hitting that donation button. It means the world again, my mom has had this disease since I've been little. And it affects your lungs. It's terminal. She's actually a want to say. And this isn't. I don't know if this is fact or not. But she told me she's top five in the US for longest surviving patient with cystic fibrosis and she's in her 40s So that gives you an idea of just how deadly this disease is. You can donate at CFF you can donate@cff.org backslash donate, and we appreciate the love and support. So without further ado, I'll hand it back to you Dustin in our guest

Dustin Steffey: 7:17

thank you yeah, again thank you guys for all the support all the love all the blood, sweat and tears that we put into this and though the way you guys have received our podcasts has been amazing. gives us hope that like we have the future of this. We have your guys's back we'll make sure that we have good quality content for you guys, especially today's episode with Derwin. Speaking of Darwin we have with us today, Derwin Logan, he is a full, full time crypto, he's gonna kind of go into kind of his background, and then we're kind of gonna go into kind of what the landscape of crypto looks like now. So Derwin Welcome to chopping wood fire. Thank you for joining us.

Derwin Logan: 8:06

Hey, thanks for having me, guys. Really appreciate it. Yeah.

Dustin Steffey: 8:10

So tell us a little bit about yourself Darwin. So people kind of know who, who speaking kind of what your background is, and then we'll kind of dive into it.

Derwin Logan: 8:20

Absolutely. So I started off as a construction worker back in the day, I did a lot of construction my entire life. And I used to build substations, wind turbines, solar farms. I did electrical for that and ran heavy equipment, shearing. So I started off in that type of world. And then, about 2017 is when I decided to take a 2015 that's when I decided to take a taste of Bitcoin I heard through a guy at work. And he was like, you know, maybe we should get into this, like, oh, well, what is it? Like? Well, you gotta get on the internet. Now, I don't want funny internet money, or wherever you're talking about. And I just thought about it. I was like, I want nothing to do with it. So he kept bugging me bugging me. Probably like a month later, it comes up with those management $1,000 And I put it 20 bucks and like, No way. I'm like, I gotta get it now. Yeah, so I jumped in at Komodo and like everybody does. And then it crashed in 2017. So I jumped out. And I'm like, You know what? I can't, I can't, I can't do it. I risk my family and my future and working for our future and I don't want to do this anymore. So jumped out, and then I gave it some thought so you don't want let's really do some homework and research into it. And educate myself folks thought before I get into it, excellent. And that's what I did. So once I figured out more about it. I started educating my friends, my family, and you know, some people will take onto it, some people won't. And then I decided you know, why not make a business out? because there's going to be a time where someone's going to need that help. Because back in 2015, all I had was a guy showing me something on his phone, I didn't have the help that I needed back then. So that's, that's where I came up with running my own business and helping people out.

Dustin Steffey: 10:17

And when you say, when you say you're running your own business? Um, you're you're kind of John's mentor, like, in a sense, right? You helped him get to where he was to you and a couple others, but you consulted him pretty much within the crypto business, correct?

Derwin Logan: 10:38

Absolutely. So yeah, what they do is consulting, it's not financial advising. Basically, if someone needs help moving crypto, or setting up a wallet, or understanding how to structure their, their assets, or their portfolio, or whatever, I go and help them out, and some people want to beat about person. So if you want to be helped out, there is an offer either way. So basically, how me and John that I went to his house.

Dustin Steffey: 11:08

And I know there's a little more to it, because we can get into the weeds. And we can talk about like you being the founder of certain things and kind of like the, the, the complicated process, but in short, you console and help people kind of get started. So setting up the right wallet, kind of your take on the right coins and all points to invest into, and how to move things around. So people kind of have an understanding of how to how to how to like get into the crypto world, not necessarily day trade and stuff like you, you probably have advanced like consultant to for like day trading and kind of getting more money. But all in all, you kind of set up the basics, correct?

Derwin Logan: 11:53

Absolutely. Absolutely. And I also have partnerships with other consultants. So people that know more than I do. So other people like to throw his name out there, if you don't mind. But Papa Joe, if you look him up, he consults with businesses and helps in that aspect. So he actually works for a company building blockchain. And so he'll consult with the business if they want to learn how to build blockchain for their business, or how to do peer to peer transactions for their business or just more in depth, you know, and stuff like that.

Jaden Norvell: 12:29

That's awesome. Mike, my question is, is basic this crash is going on? So can you explain to our listeners, what's going on? Why it's crashing? If it's an actual crash, we're not just the front loaders, you know, doing it on purpose and just information Information Information.

Derwin Logan: 12:50

So in my opinion, and watching this happen now, it's like, what I was describing back in 2017, in my opinion, it's it's another cycle. Right? So life, there's a cycle. And in the stocks and bonds, there's a cycle and equity in homes, there's a cycle, there's cycles to live. And right now we're in one of those cycles to that it's not done. I don't think it's a natural cycle, I think this manmade cycle that they're definitely trying to take the crypto market down, because they want to launch their cbdc within the next two to five years. Maybe even Sir, what's the seat? What's the CBD TVC is a central bank, digital currency. So we already run on a regular monetary ACH system, they basically will take the blockchain technology and run it in a centralized manner. And in order to get the average Joe or Bitcoin and all the other, the benefit them words, what the banks that have put out whether you do crash, or going after these certain projects. I believe Terra Luna, in my opinion, was a setup. I never invested in it, then like that project. There was a lot of reasons, a lot of red flags not. That's my opinion on that question.

Dustin Steffey: 14:21

And we explained the difference between centralized and decentralized a while ago during our crypto series, but if you want, we refresh our listeners on the difference between centralized versus decentralized.

Derwin Logan: 14:34

So centralized is basically like what we have now at the banking system. It's controlled by a certain date to keep and it's only fair for the person controlling it, right. So this is how I look at it. There's those more technical terms and ways of explaining it, but to kind of dumb it down for people like me. When I say Good. That's what centralized, just looked at the bank system now, it's centralized, in a central location being run by a certain one entity, decentralized, in my opinion, where it really is, is being out of that system. So it's not controlled by just one person or one entity, you have your own. We become your own bank at this point. So it's another way to bank the unbanked or become your own bank. And you're not just going oh, is the government going to take funds out of my bank today, because it's owned by a centralized, versus those are the two differences.

Dustin Steffey: 15:43

One, I think the other thing that I maybe I'm giving our listeners less credit than they deserve, but I feel like people don't understand that where our money is right now in fiat currency and invested in the bank. The bank is benefiting from reinvesting our money that we have and making money off of us, without us making anything. I mean, when we look at our interest rates, we're savings accounts, and they're point 00 1%. But they're making anywhere between five to 10% on our money and making that money, like, yeah, it's a huge scare for them like crypto crypto is, is a huge scare for them, because they can lose out on that money, because we're taking the control back and investing to make bigger profits than them because of that being decentralized in my opinion.

Derwin Logan: 16:36

Yep. Absolutely. And it goes further than that, right? Anybody that has relatives and other dictatorship countries, so say, Lithuania, Lithuania. And she's told me they've been with liberated twice. Right. So they have to fourth of July's basically, what they did was they shut down all of her parents savings account bank accounts, and gave them out coupons. So when the economy got really, really bad and crashed, they had to stand in line with coupons. I'm like, Oh, my food stamps and she starts laughing. What's the food stamp? That's what that sounds like. They basically shut their whole country down, took all our money and getting food stamps. So you're only allowed to eat this much per day, or per week or whatever. And so our economy opens back up. After hearing that story, just verified more and more of why people should be coming on. Yeah,

Dustin Steffey: 17:33

I agree with that statement.

Jaden Norvell: 17:36

So what's the that being said? So it's this is a man made crash? What's the, for our viewers that have invested? Author recommendations? What's the best play right now for them?

Derwin Logan: 17:50

So let's play if you're not very familiar with it. First of all, get yourself familiar. Do a lot I know a lot of YouTubers say do your own research. But don't just do your own research to other people's research, look at other people's portfolios. Be a part of the solution and not part of the problem. Enough, but out there, there's enough people that are scared know what to do, because they're not doing their research or just listening to someone going, Oh, the markets dead? Do you have any time they sent the market guide, and it's over 2000 or something we actually applied? For probably time someone said that. So this point in time, do your own research and then put your foot in the water? So those have been drug? This is a good time? It could be depending on what are what you're looking at. But if you're not sure, dollar cost averaging, so you want to just put a little bit in every single week and see our note. Like you're not 100% invested. You're not one of those guys, it's your house. You buy a big one out of the house.

Dustin Steffey: 19:05

So today's Friday, July 8, just to give everybody an idea this episode will drop in a couple of days but right now as it stands, your theory comes out about $1,200 A coin. So we dropped from a high of what about 550 500 to 1200 right now like I know that scares people bitcoins at 22,000 roughly right now today. It was last time when we were recording everything out about 44,000 So that was a pretty steep dip as well to Solana, which is another coin that I really like is down from 100 and huh hmm, excuse me. 115 To 38 Cardano is 46 cents a coin. So that's significantly downlight coin went from about 150 to 51. So this dip is extreme. For sure this one is pretty extreme. It, it's definitely scaring some people. So some people that wanted to invest, but they didn't get in there like, well see, this is why I didn't invest. And I kind of want to talk about that a little bit because I feel like it isn't a good reason to not invest like yes, I've lost some money right now. But this is money that I knew I was going to sit on for a length of time until I can kind of move it around and then invest more.

Derwin Logan: 20:39

Right? Absolutely. Yep. Totally agree with that. What I tell a lot of my clients right now, like Phone's ringing off the hook, right? He told me a few projects, look at why invested in one and it's down, you know, X amount of dollars, it's like, Well, how long is the project going around first, then when in doubt, you zoom out, right? So you open up the chart and look back, because everything runs in cycles, look back and see what it did around this time two years ago, around this time, four years ago, when having these coins in different blockchains is every two to four years, right? So that's what you want to do is, when in doubt, seek them out. That's where I tell my clients.

Dustin Steffey: 21:26

And the way I see it too, like Aetherium, for example, I'll use Aetherium. Because I like that coin, that one being at $1,200 right now. I mean, for people who couldn't afford a full coin, we're in a great dip right now for people to get a full coin, or to come back up and make some significant money. This is the train that everybody misses. In my opinion. This is the train where everybody's like, Oh, I should have done that, like I've had those times in my life. I'm 34. And I've had it on three occasions for investments where it's like, Man, if I would have done that, I would have had 100,000 200,000 $500,000. Now, we're in that time right now, in my opinion, where if you invest now, in this dip, you're going to make out as long as you just hold steady and stay the course.

Derwin Logan: 22:22

Absolutely. I couldn't agree with you more on that. I remember one bitcoin was running at 65,000. That wasn't too long ago, right? So I'm telling my wife, hey, we need it for our profits out now. But it's this side. And we did a lot of people don't understand they get attached to emotions. And with this type of market, you can't be attached to your emotions. So you hold enough in there, you let it run out who your investment, initial investment out, now you're safe, right. And then once it goes up, or back down, then you can reinvest. So you just keep your dry powder on the side reinvest and do it over and over and over until you start getting the hang of it. Or you can do a hot like a hodler model is basically the same, but they're hobbling long term, you know, 10 years, building generational wealth, and there's no reason why someone can't build generational wealth now. And these times, it's, you've already done it once, right? If you look back on the markets, it's gonna do it again, it's just a matter of one.

Dustin Steffey: 23:28

That's the model that I take. So because I have a nine year old, I of course want to I want to set myself up for success. But I also want to set her up for success to like, because I feel like and, again, this is this is my own personal bias. So take it for what it's worth. But I feel like our economy, why it's inflating why it's crashing right now, it's solely because of all the decisions that have been made from when COVID started all the way up until now. And with that being said, I don't have as much faith in our government and what's going on to trust that the old school way of investing is going to be the right way. This one right here with crypto, it's still in its infancy stage to me. And with that being said, I'm going to invest in the infancy stage because I think this is what's going to break the mold of creating that generational wealth and creating some while for us to be successful. This this will work. It's just not if it's when

Derwin Logan: 24:37

Absolutely. Yeah, I couldn't agree with you more on that.

Dustin Steffey: 24:42

So let's let's talk about um, let's let's talk about, we talked about the debt. Let's talk about people that want to invest. Now why is it a good idea to invest now? You've seen quite a bit of cycles because you've been in it a little bit longer. and ask you've been in it since 2015. I've been in it since 2018. Um, let's talk about these cycles. Let's talk about why it's good to invest in the dips, and let's talk about why it would be a good idea to hold it and not look at it. We can talk about day trading to maybe at the end, but I think this basic portion right here is going to help people a

Derwin Logan: 25:22

lot. Yeah, so I mean, it's kind of like what we've already discussed. It we know it's dipping, now's the time to get into it, right? How much into it you want to be that depends on your pocket. And then what projects you want to make sure the projects you're dipping into your sound. Don't just jump on because some YouTuber said, Oh, Tara Luna, I'm going to keep using over and over and over, don't just jump on it because some YouTuber said, Tara Luna is the project, back that truck up and buy it. Don't do that. Go through the project that you think is good, or that you want to invest in and really do your research into that project, find out who's running it, who's behind it, who started it, where it's going read the white paper, coin market cap.com is a good place for people to start. And you can take a just click on a coin and it'll show you you know, everything about it. So they'll take you to their website, their community, their where to buy the coin, it'll take you there white paper, it will take you to all that. And that's just a basic start on how to do some research.

Dustin Steffey: 26:35

Now, I know I brought this term up twice, but day trading so similar to stocks and and trading stocks, people gay trade in mine cryptocurrency, what's the benefit of that for someone that wants to be a little more advanced.

Derwin Logan: 26:53

So in my opinion, I'm not too much of a trader, I don't care if works, I don't want to just stare at a screen all day. 24/7 watching, you know, the candles go up and down with a crap ton of money that I pray that I don't lose, you know, there are smarter ways to do it. And that's the box. And that's what kind of the market is doing. When people are day trading. They're using bots nowadays. So a lot of these trades and stuff you see earning really done by humans. And so in my opinion, I stay away from it. I'm not that advanced at it. Anything that I'm not good at. I try and stay away from kind of like, building my website. Yeah, wasn't that great at it? So I had someone else start for me and then as I go, or how to add little bits and pieces here. Okay,

Dustin Steffey: 27:44

okay. Okay. Um, so, I'm not a fan of day trading, either. I don't want to I don't want to sit in front of a computer screen. I'm more of the long term person. So do my research. Invest in that, that that's kind of where I want to be. I think that's where JD needs to, like, we put a little chunk of money into the right thing and kind of let it sit and grow.

Derwin Logan: 28:06

Yeah, no doubt.

Jaden Norvell: 28:08

And I didn't know that. That's cool that it's robotic, because I've, you know, you see movies like Wolf of Wall Street, and you think there's guys you know, sitting there doing the same thing, but that's, that's cool.

Derwin Logan: 28:20

Yeah. And I was just watching a couple videos the other day on this guy, how he was showing people how to set up your own box. So a super advanced stuff, you know, and to me, it gets more risky. I rather put my money in something that's returning the yield. So I'm going to use a project that I like, it's called the Divi project. Right now I get 20% back yearly on my investment. So And uh, yeah, it comes back in that coin, going, that coin goes up. It's doubled here or triple. If it goes down, I still get rewarded back in that corner. Running masternode is another good way to invest your money, have your crypto start working for you. So staking masternodes projects like that are what I like to be involved in and then I'll take those rewards and move into Bitcoin. Why is bitcoins or grandpa has been around forever. It's a good store of wealth store value. That's just in my opinion. So

Jaden Norvell: 29:24

that's awesome. That's in your back. Okay.

Dustin Steffey: 29:29

Yep. So basically I just wanted to put people's minds at ease a little bit with the questions that they had with this dip in cryptocurrency. This dip is probably the most extreme one I've seen in being invested. For you, Derwin, you've seen more cycles, is this, is this kind of the most extreme you've seen or has it dipped more in your experience?

Derwin Logan: 29:59

So So, see you back in all time chart right now. You go back. So yeah, no, we definitely seen it worse than this. It's not it's all time lows right now. And it's definitely not an all time highs. So the last time I seen it was this bad was 2071 say it was about 303 to 800 hours at that point. Now what? I don't have my big screen, but you get the point. So three to 800 to 20 grand right now. Is it a bad dip? No, I think right now is the perfect time to buy. I've seen worse. It could go to nothing. Right? So I think now's the time to either get it slowly. Could we go down more? Absolutely. But I think we're almost to the bottom. And my personal opinion gets from watching the charts. And what we've gone through in the past, I don't think it's there's too many wallets now holding Bitcoin. There's too many people out there buying bitcoins, too many wells, there's too many projects. It's not a United States currency thing, or United States stock market thing. It's a worldwide currency to worldwide store of wealth. You know, so people are buying this all over the world. It's not just here. And I think a lot of people don't take that into perspective when they're looking at the market right now. So a lot of time, you'll see it drop over, say Friday, it'll start going up and they'll drop over the weekend. Or it'll come up in the morning and then drop at night, because China's buying, you know, these other countries are buying while we're sleeping, then we wake up and so you know what I mean? So it just fluctuates all the time. And that's another reason I got into Kryptos and not the stock market, because I could get up at three in the morning and pull something out of a shady project or whatever, if I felt it was going down. With the stock market, you can't do that once those exposed.

Dustin Steffey: 32:03

See, and that's a good thing for our listeners and everyone to understand Kryptos a 24/7 market, it's exchanging 24/7. And it's all that it's either going to increase overnight decrease, stay the same, whatever the case may be. People need to not be too concerned about these extreme dips, because if you are in it for the short haul, then that's day trading and in my my personal opinion, so that's at your own risk. But for people like you and I and Jaden who are in long term, we're in it long term to grow generational wealth, we can pull out what we invested when it pops up again. And hopefully it pops up better, because in the cycles that I've seen, we've hit all time ceilings, too. So I feel like we're, we're we're depth Yes. But I feel like it's gonna pop back up here soon when I don't know, I don't have a crystal ball. Neither do you. Because the biggest question I get, for me personally is, well, when do you think we're gonna make money? And my answer is, I don't know. I mean, I'm down to but what I can tell you is, is if you stay patient, it'll, it'll pay off.

Derwin Logan: 33:22

Absolutely. And you can make money on the way down on the way up. Like I said, it's about what project and how you use it. Another thing, like we were talking about earlier, is what people don't understand about the economy. I'm not an economist, or, you know, I think there's a school for any of that. So I'm not going to act like one, but just look around, and then look back at charts, do research on the economy. And you'll see that for some reason, they're destroying the dollar. It's being destroyed and has been going on for the last several decades, since they took us off the gold standard. A lot of people don't even know or money is not backed by gold anymore. So if you once you figure that out, what are they going to move us to? Is it going to be gold? No, you can't carry bricks of gold on airplanes. Is it going to be some type of silver coins? Well, those are too clunky, you can't carry those on? So what is it we're moving into a digital age, we have a digital currency that's been testing now for 13 years as a store value or wealth, and now there's other altcoins coming out that make it a currency. So in my opinion, I see Bitcoin altcoins not all of them, but most of them. The good projects here, here stay for a while. That's the

Dustin Steffey: 34:50

other thing that comes up for when we have discussions, right so at family dinners or business meetings or whatever Krypto I can't see it like the dollar, it's not tangible. Why would I invest in that? It's on the internet. What if I lose all my money? Like I get those questions, right? And I always struggle answering it because it does cross my mind sometimes too, right? Because of how I'm conditioned. Like, yeah, I have $1 bill in my pocket, it's tangible. It's real. I can go give it and buy, whoa, I can't buy anything with $1 anymore, because inflation is terrible. But what I'm trying to say is people are used to having something tangible. And bitcoin is tangible, but it isn't tangible. At the same time, like you're investing into people, people feel like you're invested into the air. They feel like, where does it go? How did it come out? Like, how am I making money on this? It's too good to be true. Something along those lines, what do you have to say for that Derwin for those people?

Derwin Logan: 36:01

So I got a buddy, and hopefully, that you listen to us, because he hammers me just like, a couple of days, he sent me a text, why are you still in this boy your money out? Now? It's, it's going to zero this time. I'm like, you know, he always asked the same thing. Why isn't it tangible? Like, can I hold it? And it's something he's not thinking in the back of his head, look at your wallet, open your wallet? Yeah, if you don't have $1, you got a credit card, right. So you have the Litecoin card, you have a fold app, you have the lolly app, you have all these different ways of using cryptocurrencies, where you don't need to have $1 anymore, you have a phone, you carry that thing around every day, a lot of what's blue doing, I'm a little old school, so I don't have my phone with me every day, all day. But that's where technology is going. And that's where people need to understand. The old system is dying, it's dead, it's gone. You know, our dollar is not even backed by oil oil anymore. Obviously, you know, gas prices are through the roof. So what makes your money worth anything besides you believing it? So another way to look at crypto is energy. How does it work by people's energy, you know, as an electrician, you follow the way electrical and and electricity works is through energy. And that's the same thing with currency, you can't have a currency without energy being put into it, and a belief system, and this has all that momentum plus technology backing. So when they say it's not backed by nothing, it's backed by energy, technology. And it's, it's, it's the future. It is period, you know, and unless they want to be stuck in the old system, and dealing with banks, which don't have that opportunity, I'm pretty sure but I just watched a video about them talking about CBD C's coming out soon. So you're basically going to be in Kryptos. Anyways, you just want to have control over the bank world. So are the same person that's asking that question Do Do they have control of all their money now after money's in some bank somewhere, where they're like we were talking about earlier, where they're making money on your money, and you don't make anything you're looking to make point 3% And a savings account. Or I think it's one of those ones that lock locks your money up or whatever, you can make 5% If you're lucky. And here in crypto, you can lock it up. And then 20%. So you want to make 20% or point zero 3% and become your own bank. I live day to day off Kryptos I don't hardly touch the dollar.

Dustin Steffey: 38:48

Exactly. That's something that people don't understand. So if you invest right into it, yes, we're in a dip now like, let's get past the dip now. Because we've already discussed that. If you invest right within crypto, like you were saying you can make upward bounds of 20%. And so you can invest enough to be able to pay your monthly bills, and still let it sit there to grow. Like if you're smart enough with it like this is how people are coming out and saying hey, I'm an entrepreneur, I'm living on my own money. And I don't have a job right now because my job is my investment. And I'm helping others to do it to break free of that stigma of I need to go to work or 12 to 15 hours a day and come home for the same page Chase and other people's dreams other than my own. Right.

Derwin Logan: 39:45

And some people you know, they're just not going to get out of that mindset. And that's just what they want to do. They don't want to become their own bank. They just they want their assets controlled for them. And there's ways to do that in crypto as well. You know, there's a lot Other places where you can put your money blocked by Nexo. There's all kinds of platforms that will hold your crypto for you if you don't want to be that much involved. But the new system is cryptocurrency is blockchain that cannot be broken once it's made or put into the blockchain. So our voting system definitely needs to be put into that as soon as possible. They already run hospital applications on blockchain. They already run military programs on blockchain. So there's blockchain being used every day all around us 24/7. There's just a lot of people don't understand how you could turn into a currency.

Dustin Steffey: 40:41

Yeah, and like you had brought up in the beginning, the biggest way to win within crypto, because we're all not financial advisors. We're just given advice to follow to make your own decision and do your own research. But the biggest advice that you can follow is to do your homework, do the research. If you're nervous about it, start out small don't blow your life savings into crypto. Because it may not it may not bode well if you put your life savings in and then all of a sudden there's a dip and then you're you're you have a negative taste in your mouth. When really, the answer is to set yourself up for success. Right? So do the homework, do your research, set yourself up, understand that there's going to be peaks and valleys and kind of roll with those punches. So the people that are successful within crypto right now that are entrepreneurs such as you Derwin are the ones that understand this, you know, that it's a risk to invest in anything. I mean, heck, it's a risk for me to walk out my front door, I could get smashed by a semi or trailer. I mean, everything's at risk. And I'm trailers, man. Yeah, especially Jaden, Jaden is like the poster child of bad luck. So like, watch out, watch out for anything. But everything's a risk in life. I mean, even waking up is a risk in life. So what risk are you willing to take? You also brought up another good point, Derwin, we had Dr. Beyond a while ago, talking about NF T's because we had no idea about NF T's. And she brought up some good points that I think you kind of solidified. One point being digital, digital, like technology is evolving. So we're going to a different web platform here soon, as well. And it's in its infancy stage. And once we hit that, like Kryptos, really, really going to take off I think she said it was like web 3.0 or something along those lines. She discussed NF T's as well. And she discussed the importance of where digital currency is heading. And I think that was all great stuff. If you guys are just tuning in, go back and listen to some of those crypto episodes because everything that we're talking about now is aligning with that.

Derwin Logan: 42:59

Absolutely, and to get deeper into web three and NF TS imagine what some states and what some countries are already doing like El Salvador, right? They're already printing their own currency for their people. So they're basically not charging them as many taxes because now they're mining something that's producing income every day and they can use that they can you can buy it you know, a lot of people are like, Oh, it's bad, electrical, you know, electricity. It's bad for the planet. No, no, no, no, you can buy crypto in the water you can mine it using I know someone doing mining out of a cave right now using not air. You can use mine it was sore, you can mine it all kinds of ways. So imagine tokenizing real estate tokenizing, land tokenizing everything, you know, everything be tokenized and, and more transparent and more open. That's another reason I like about it. And you know, can it be corrupted? Absolutely. When the dollar has more blood on it, the crypto will ever have, you know, and it's just facts from a lot of the old school people. Back in the day your grandparents, if you had those type of grandparents can do down a gold coin told you to buy silver or gold invest in not because it's a store of value. Both we know where technology's going, we know where it's been. What do you hand down to your your grandkids now are your kids. You hand them down technology? And this is a huge piece of it.

Jaden Norvell: 44:35

That's a great topic because I was just at the baseball game with my grandpa my grandpa was you know, he's my grandpa. And he's asking for receipts and we're sitting there and ordering a beer and the beer guys pizza guy they don't take cash anymore. It's all card or Apple Pay and it's just crazy and I You're walking with my cousin down on State Street, and if you're from Wisconsin, you know, State Street. And there's a homeless guy, and he's begging for money. And he asked my cousin if he's got any money for me, and my cousin said no, and the guy was like, I know you don't. But it's, it's crazy in a wondering for people like that. In the future, there's not a lot of us don't carry cash anymore. It's just all digital.

Derwin Logan: 45:26

And it's true, and you don't, you don't need cash anymore. You really don't do everything is digital, I use credit cards left and right. A lot of them are crypto cards. Yeah, I stopped by Visa, American Express, you know, those types of cards. But I have a Litecoin Visa card. So I send my crypto over to Litecoin. When it's up, I buy fuel, buy clothes, pay bills, whatever on the fold app is a really good way to get paid in crypto. So you can send your paycheck straight there, by whatever on that using that card, and then you get rewarded back insights. So it will give you Bitcoin back every time you spend. So we're moving from a it's been hard to explain, but we're, we're transitioning from a pay like a, they pay you for your, your energy for your time, for your, for your efforts, for your whatever, like tick tock videos, you get picked crap to sit there and watch those. But if we use a brand browser, it'll pay you in that token to use that. That browse, you know, and a lot of people don't know that's free bat that you can then trade for Bitcoin. And when it goes up, your use got money for free, because you can still sell it. And if you want to be a part of the Fiat world, people, not switch subjects really fast. But people need to stop thinking of crypto in dollars. Think of it in sites, if you go to the seat on, do a lot of research. So if you go to the mat to circle back on that, but there's a website and you go to the website, the government website thinks the government government.org or whatever your their website, they already have stuff priced in sites. Why is that? Why is there things priced at sites that will say 800, Satoshis, or whatever and sets? So they're setting it up for CBDCs? Which is central bank digital currency. So why not become your own bank? Again? Yeah, so just think more Cooper thought.

Dustin Steffey: 47:36

You brought up some good points there. There's ways to make money on your money. And this can only be done by doing research. And obviously Derwin. You are really good at doing research so you know how to manipulate the money that you make, to make more because what you're doing is you're you're enrolled into these things that pay you back money for spending your money, and then you reinvest that money in to make more money. And this is something that most business level entrepreneurs that like are smart with their money like the rich, the one percenters, the one percenters do this already. It's just something that we have to educate ourselves on to do as well so we can become that 1%

Derwin Logan: 48:22

Absolutely. I watch a lot of economic engine videos. Were in him yet, but he came out really fast. I did a show with him. Really great guy. I mean, he's all start off just like us. What did he do? He was smart with his money. So everybody was getting these free checks and going to buy TVs you know, he's looking at real estate on the market dumps that's when it's time to buy these homes for sale. You know not to be that type of dirtbag, but that's kind of like what you have to start putting your mindset to as how you're going to get the market just right when it drops. So when the housing market drops, you want to be the first one with all your money that you saved while everybody was out partying time for good. You were saving you were stacking SATs. You were second Fiat if that's what you're into, and when it drops, we buy the market. And that's in anything assets, cars, boats, trailers, rain, economic lenders get for talking about all that stuff.

Dustin Steffey: 49:27

That's another good point that you bring up. So a lot of my friends, right? They're saying Dustin Kryptos crashed, I think real estate's tried and true. I want to invest in real estate, I want to do this, I want to do that. Um, but you brought up a really good point. All of that's the same. If you educate yourself, right? You can invest in crypto and still invest in real estate and still be in different projects is what we call them that pay you back and yield you money.

Derwin Logan: 50:00

Yeah, absolutely. Totally agree with that.

Dustin Steffey: 50:04

You also had brought, we've brought up a lot. And I think we should talk about it just a tiny bit. We've brought up a lot of different wallets, we've brought up a lot of different strategies, I want to zone it in, just to dumb it down a little bit for someone new that might want to get in, like, what's a good wallet to be in? How do you get a card where you can spend your money, so you don't feel like you just invest your money into air? Like what are some of the right tips and tricks for beginners to kind of be set up for success?

Derwin Logan: 50:36

So when I started the most a lot more difficult right now it's easier. I would say the top three wallets and there's differences. There's hot, there's cold. And I think you got over this with with your following already.

Dustin Steffey: 50:54

Right? Yes, yes.

Derwin Logan: 50:57

So there's hot there's cold. And then you have your ones that are offline completely, which are the cold and then they exchanges or exchanges. So what I tell my new beginner beginner beginner people is start off with something like Coinbase something like Kraken something like so let's just do exchanges, top three exchanges. We'll start with those Kraken Gemini, depending on your location FTX things like that are wallets Exodus is a good wallet. Trust wallet. It's a good wall, it's really good wallets been around for a long time. These are hot wallets and talking about. And then atomic wallets, a decent wallet has been around, I do a lot of my stuff and atomic wallet. With Exodus you can stake so you start off with Coinbase, sometimes they give you these free coins, I figured this out to you send them over to Exodus to earn more than you would a coin. So you could start off with Coinbase. And pence player, I'm gonna go for it, and then go to Exodus playing with that and go for it, go for it. And then as far as spinning your Kryptos, what you're gonna do is, there's something called the Litecoin card, I have a YouTube video about that, how to sign up for how to use it, they actually send you a Visa debit card, you can put your Litecoin on it, or send bitcoin and it'll just do the work behind the scenes when you use it. So you don't have to really think about anything besides getting it over there. So practice sending small amounts, we never want to send more than $5 to an address at one time until you find out the right address. So now I'm kind of all over the place, just trying to think of the best thing for classes for beginners. The top

Dustin Steffey: 52:50

right, so for me, I started out on coin base, I have the coin base card. So I have it and it's it's a it's it's it's an all right card, I think you brought up a better one. I like that one a lot. But for me as a beginner, I started out on Coinbase. I bought all my stuff on Coinbase. And this was pre Exodus update where you can buy on Exodus now, but I would buy it on Coinbase and then transfer into Exodus. Some of some of you might be asking, Why are you transferring it from one to the other? My answer is Exodus is a wallet that I control that only I can get into that like is mine, right? So it's safe in there hasn't been hacked, it hasn't been any of those things. And so I was Transfer Now you can buy within Exodus. So I predominantly use Exodus, where I'm at now is if I want to spend some of that money, which I'm not spending any of it, we're in a dip I'm adding to it. But if I want to spend it, I would transfer it then to either my crypto card, my crypto.com card or my Coinbase card to be able to spend it.

Derwin Logan: 54:03

So yeah. Security is a whole nother beast in itself, right. So a lot of people, when you start getting into any type of money that you hold that you don't want, you don't want it to be lost. We always hear people not your keys, not your coin, and that's what you were talking about with the Exodus Wallet. So it's a hot wallet, it comes with its own keys. Is it safe? Well as your computer safe wherever you're storing not wallet. Are you clicking on Amazon links, I mean, it depends on the level of safety that you want. But what I do and this is what I tell my clients to do is get a device that's separate from your daily life. Unless you find on day trading and all that good advice that's separate from your daily life. Open a wallet, hot wallet on that start off there and store your Kryptos on that. Because if you're buying on Amazon Then in YouTube, doing all these other things you have that are your email, and other ones email, that's a good one to watch out for. And you're doing all that you click the wrong link, now they have access to everything. So and with everything going on with Kryptos in the market, people are looking for ways to take your purchase. So you want to protect them. Just get a device, put them on a separate device.

Dustin Steffey: 55:25

Yeah, then

Jaden Norvell: 55:26

that's the fear of a lot of people. And that's why I like going through a third party like me and Dustin have done that kind of can do it for you and keep it protected.

Derwin Logan: 55:40

Like I trust capital or something like that.

Dustin Steffey: 55:42

Yeah, what's what's the we're, we're through fund Z right now. So we had a leash on a while back, I don't know if you listened to that episode. And we're yielding about a 3.1% return on average weekly on our investment in that I'm invested in crypto on my own and invested into that as well. And it's just another way to make money. So we brought up different avenues to make money and I'm in different projects to make money.

Derwin Logan: 56:12

And that's okay, too. And once again, it's about doing your own research. And in really looking into the company so like this whole Celsius thing you were getting back when I was playing around with it, I got out luckily at the right time, but I was playing around with it, I was getting it back like almost 100% Return to games we accompany cannot keep that up for very long without crashing, especially when a market tanks like this now, where are they attacked? Possibly knows the real story behind it. And we know we agreed when we go to these Bitcoin news.com or other YouTubers or whatever, however we get our information. But it's just how do you feel with someone holding your own money? Are they protected? Do they have insurance to protect you from it? Just because it says FDIC doesn't mean it's backed by the government or any of that. So those are things to watch out for. Even with your own money and purpose.

Dustin Steffey: 57:12

Like we said in the beginning, everything has some form of a risk walking outside, you're risking something. So everything has a risk. Derwin, I appreciate you kind of setting some minds at ease and bringing up this information. I want to give you some time to kind of talk about where people can go to get a hold of you how they can get a hold of you what is the benefit of going through you and kind of your business?

Derwin Logan: 57:40

Absolutely. So you can find me on YouTube. I have a website everything's open minded Bitcoin websites, open minded bitcoin.com YouTube open minded Bitcoin Twitter is minded, Victorian, no, just minded Bitcoins are just minded Bitcoin, but I have all those links on my website. If you go through me, I really like to help my clients out, especially the beginners, because I didn't have me, like I said earlier to help me out. You know, when I started, I didn't have someone that I could call up and go, Hey, we shared your screen with me, and show me how to chain transfer $10,000 from one wallet to another, or just cryptos period from anywhere to anywhere, or how to set up a ledger, like the other day, I helped this guy send his ledger up. He was so thankful because on Twitter, guess, YouTuber he was following. I told him get your coins off the exchanges, because the exchanges are being, you know, obviously are being attacked, something's going on with them. So he was freaked out, calls me I go over there. He has a ledger. And that's a cold storage device. But he doesn't trust he doesn't want to use it. Not familiar with it. So I set it up for him. Of course, he writes down his own seed phrases. He does his own passwords, and I just educate him on how to get his point from A to B. There's so many people out there that have bought in coins made a lot of money with their clients, but they're sitting on an exchange. They're sitting on an exchange, they're not doing you any good unless you're exchanging with them, you know, so why not put them in your own possession or send them over to a project like the Divi project or if you want to learn how to steak I hope people are kind of steak. They want to learn how to launch a masternode I teach them how to run a master. They want to learn how to live off Kryptos a little more depth but I teach them how to do that. Yeah. There's just all kinds of ways not even I know everything. I don't think there is anyone that knows everything. But I do have a big community that I am involved with. So if I don't know they'll know.

Dustin Steffey: 59:54

So for those of you that are listening and want to invest in crypto and kind of want a little bit more support Please feel free to reach out to Darwin, his information will be linked in our episode description, you can always go to www dot choppin with fire that ch oppinwithfire.com and go under guest profiles. And you can click on Darwin and go straight to all of his information if you want to book a consultation with him to be able to move forward with this, sir, anything else that you want to add today? Darwin?

Derwin Logan: 1:00:32

Um, no. Well, there, actually there is some like easy how to videos I have, like on my Patreon channel as like five bucks a month, you can check that out. But just really educate yourself. Please, please, please educate yourself before you jump into something like this. I hate when people back up the truck lose everything. Now they equal when Kryptos is more than just being your own bank. It's building a community. It's like minded people, it's family. At least it is for me and my community, you know, and that's, that's what it needs to be the corruption, all the old school banking system, all that needs to go away, we just need to rebuild our own. I think we could do that with Kryptos. And blockchain.

Dustin Steffey: 1:01:20

I'm going to use the old adage that I learned when I was growing up you are who you surround yourself with. So if you surround yourself with a community of haters that have a bad taste in their mouth, you're going to end up hating it. But if you surround yourself with like minded people that understand that things are happening and kind of understand and educate yourself, you're in a better spot. Yes. Well, Derwin, I appreciate you again, I can't thank you enough. You're you're really knowledgeable. It was an amazing interview. I think this is great for people that are trying to understand what's going on with crypto right now, this opens the door. Obviously, we could talk about this for eight hours plus, and really get into the weeds. But I think the bare basic of what's going on right now is covered. If anybody wants to find out more and wants to invest, please feel free to comment with us. We can help point you in the right direction. We have a lot of resources that we're surrounded by, with Darwin with John with Alicia, Dr. B. Joey, all the people that we've had on, they're all like minded people like you. So please feel free to ask if you want to invest, let's invest. Let's let's create that generational wealth. So thank you again, Derwin. I appreciate you. And if you guys don't remember from the beginning, please, please, please like, comment, subscribe to our videos. Make sure to go and put your vote in at WWW dot podcast awards.com for the People's Choice Award for Jaden. And I think Jaden and I are super, we're super humbled by this super blessed to have this opportunity. And we want to, we want to take it by the horns and actually take this opportunity because if we're doing something right, we want to continue to keep doing it.

Jaden Norvell: 1:03:11

Absolutely. Is and to Darwin and make sure you guys check out Open minded Bitcoin for all your help because nobody does anything alone. So this is a good opportunity for you guys to get in with Darwin and make some money. Thanks, guys.

Derwin Logan: 1:03:27

Thanks, guys for having me on. I really appreciate it.

Dustin Steffey: 1:03:30

Thank you Darwin.