Joel Kovshoff (AKA Coach K) joins us to discuss how to craft your mindset to be an effective crypto trader.
Coach K is the co-founder of Academy For Capital Growth LLC focuses on Trading Education, Capital Management and creating tools for traders such as indicators, journaling and trade management and is an advisor to Paid Network, FinXFlo, Verasity, Ferrum Network and PlotX. Well known for his deep networking skills, he is someone who can be counted on to secure partnerships, exchange listings, and creative marketing campaigns.
*Disclaimer. None of this information is financial advice.
The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:00:03:21 – 00:00:27:04
Richard Carthon: Hello, everyone. Welcome to another episode of Crypto Current, your host here, Richard Carthon, and today I got a very special guest all the way out in Bangkok, I believe and he is fortunate enough to spend a late night while I’m spending an early morning to talk all things Crypto, been in the space teaching people amazing stuff, really talking about community and how important it is that we build community here in Crypto. We have Coach K with us. How are you doing today?
00:00:29:01 – 00:00:50:06
Coach K: I’m good, man. Thanks for having me on the show. Appreciate you you know, reaching out and shoutout to Brian Casselman man for connecting me with you. I love talking Crypto so yeah, let’s jump right in man.
00:00:50:24 – 00:01:01:21
Richard Carthon: For sure. Well let’s go ahead and get started with just a little bit of background on yourself. I know you’re working on a ton of projects, I know you’re a CMO of a couple of projects. Tell us a little bit about that and how you got first introduced into the Crypto space.
00:01:02:24 – 00:02:08:12
Coach K: Well keep a long story short, because it will be long. We’ll just do a take by take. Take one, I had friends who were mining Bitcoin in 2011, and told me to get involved. I thought it was pretty much like the lemming game where you were like mining in the game. I thought it was kind of funny. They were like, No, you gotta do it. Then I came home from Korea after a year of working as a teacher there. They were like, You need to get in, I was like Eh. Moved to Bangkok in 2013 and my guys were like, You need to get Crypto, you need Bitcoin. So I bought five hundred dollars worth, totally forgot about it. 2017, one of my boys back home called me up and he was like, Yo Bitcoin’s $800 and I was like, Word? He was like, Yeah, so I was trying to scramble to find my Bitcoin. I couldn’t find it, like it was on an old hard drive on an old computer. Couldn’t find it, didn’t matter, I was just like, All right, I started buying some. And the more I got in the space, the more I realized because I was teaching and I’m a Canadian certified teacher and I was working in an international school and I was like, Someone needs to like, teach people this stuff because everyone was getting scammed. It’s still they’re getting scammed and robbed.
00:02:08:21 – 00:02:09:06
Richard Carthon: Right.
00:02:09:08 – 00:02:59:04
Coach K: But I felt like, you know what? If educating people gives them a chance to not get robbed or not lose their Crypto, I want to do it and I want to help people and that’s really where I started. In terms of projects that I’m working on, maybe you guys have heard this because we’ve had a lot of news and press coverage, AnrkeyX, I’m the CMO of that project. It’s taking farming and E-Sports and NFT’s and kind of mixing them all into one to make a fun and a very visually appealing game, which you kind of work together with your team to get the highest APY aggregated together. So there’s lots you can find out online, I won’t bore you with that, but it’s a really cool project and we just entered our sale with Dao Maker. You guys may know about them, they’ve done projects like Orion and other ones as well. So look that up. You can go to AnrkeyX.io and check it out.
00:02:59:27 – 00:03:55:23
Coach K: Another project I’m working on is called FinxFlow. It’s very much like Orion, but fully regulated. We’re already regulated in Singapore, we’re going into the E.U. I’m also not only an advisor, but I’m a non-executive director of the company. And we’re also going to the U.S. next year, so we’re setting up an office there and going fully regulated, so that when things get a little bit more toasty in the Crypto scene, which it already is with micro strategy and we’re seeing greyscale buying, more Bitcoin and PayPal buying, more Bitcoin than you’re mining. There’s a scarcity issue starting. We believe that being of the biggest Crypto brokerage, aggregating liquidity from all the top exchanges, making deals with them so that we pass through tons and tons of Crypto, that it’ll benefit them, it’ll benefit us and then people that are coming in the space that are wanting to buy large amounts can do so without having massive spreads.
00:03:56:00 – 00:05:04:24
Coach K: So we’re trying to solve the issue of you know, you go on Binance, you can’t buy 100 Bitcoin, you’ll be paying $30, $40 dollars difference in the price per Bitcoin if you buy that much. So we’re trying to sort out that and make it so that people can really trade high frequency at a higher level, which is what this industry needs. We need to bring in the bigger players and not only that, giving people like you and me a chance to buy without having slippage and having all these issues. So that’s a company that I came in and I just shook up a lot of stuff. I’ve done tokenomics now for like five projects now in the last few months and I’ve kind of tried different strategies and found ones that worked and didn’t work, kind of became like a little bit, more of a mastermind behind different strategies that you can use. And we can talk about that later as well. And then I also advise a couple other projects, PAID Network, which is putting like smaller contracts. So let’s say you and I had a contract for a deal, let’s say I was going to pay you to bring me on the show for a company, let’s say I’m in Thailand, you’re all the way in the U.S. Generally, if I screw you and don’t pay you, there’s nothing you can do.
00:05:05:02 – 00:05:05:17
Richard Carthon: Right.
00:05:05:19 – 00:05:31:06
Coach K: You’re going to pay 20 grand or plus for a lawyer to come and get your four or five thousand dollars? No. So people that do smaller deals, even bigger deals, but I would assume a lot of smaller deals, would go through the network and be locked in an escrow. Then after we did the interview, you would get your money. And if I didn’t pay you, the network would then say, Okay, did you do the video? Yes. Did you edit it? Yes. Did you do a good job? Yes. Okay, then they would vote to give you your money.
00:05:31:16 – 00:05:32:01
Richard Carthon: Right.
00:05:32:03 – 00:06:22:02
Coach K: So it solves the problem of needing lawyers and wasting all that money. So that’s what PAID Network does. My friend Kyle Chasse, he’s the CEO. There’s a lot of really cool stuff there. So there’s other projects like Veracity as well that I’m working with, PlotX, which is the prediction market like Augur. And yeah, I’ve also worked with a project called Freeway Token, AuBit. They’re kind of taking traditional assets, putting them on chain and making it so like if you hold gold and you don’t want to sell it, you never get money based off of holding it. What they’re doing is transferring half the transfer of the fees go back into actually buying the asset so that you would make money. So, I know that’s a lot and I probably went a little too long, but I’m involved in a lot of really cool stuff in this industry, and I really, I’m passionate as you probably can tell.
00:06:23:15 – 00:06:48:13
Richard Carthon: Yeah. I mean, we definitely can see the passion and I mean, all four of those projects seem extremely cool and definitely want to dive into some of those a little bit more specifically. But before we kind of get into that, want to learn more about you. I mean, you call yourself Coach K, I got to learn before we jumped on this how you were previously in football, but you also did some teaching. Talk to us about those experiences and how that has helped you with growing the community within Crypto.
00:06:49:13 – 00:07:25:01
Coach K: Absolutely. So, being a teacher made me really confident and comfortable in front of other people. Playing sports, you do a lot of really funny stuff in front of a lot of people. I’m sure you know, you told me you’re playing football too, so you kind of get your guard down I guess, you don’t worry as much about what people think of you. And so that really helped me with transitioning from a teacher with a comfortable job, getting paid really well because I’m in Thailand, Canadian International School, but having a boss I didn’t really like and being told stuff that I didn’t really agree with and kind of sometimes felt ostracized because I do things differently and I’m really an entrepreneurial mindset.
00:07:25:14 – 00:08:42:04
Coach K: And was it scary to do my own business, to take a leap of faith? Sure, it was. It was different, but I think that doing those things and pushing myself to that level was a lot like when I was playing football. I was undersized, I always had to work harder. The guy in front of me was six foot five, he was three hundred pounds. He could bench more than I could, he was faster than I was, but I worked harder than him and found the technical ways to beat people on the field, so I got to play. And that really helped me learn that work ethic and drive and now people know me man, they say, like, Do you ever sleep? Are you ever sleeping? Like, how do you do what you do? And I’m like, One hundred hour weeks are nothing. It’s nothing. How do you do that? And I’m like, Because in life, you only have one. If you want to make an impact on other people and you want to really, truly help them, you’ve got to grind and you have to push and you push yourself and push other people around you to be better. And I think that the more that we do this, the more that we help other people, the more we actually build community, we build real trusting long term relationships and I’m a very big person on relationships matter more than money.
00:08:42:14 – 00:08:43:09
Richard Carthon: Yes.
00:08:43:11 – 00:09:35:07
Coach K: Relationships are the currency that I value far more than a quick buck. You want to get quick money, it’s great, but not as satisfying as trying to think long term and how you can do something and building stuff is really amazing. So I would say that that’s kind of like how my old life transitioned to the new. And I would like to thank Ryan Silverthorne, my former principal, that I despise, he pushed me into this. As much as a lot of people look at negative things, I did a horrible negative relationship with him, but because of that negative relationship, it actually led me to make decisions that put me where I am today. And so, I’m grateful that that happened. Sometimes there are situations in life you could take them and dwell on them and sometimes you can take those situations that could be a little bit negative and actually look back and go, Wow, this is actually a really good thing that happened to me.
00:09:36:00 – 00:10:38:17
Richard Carthon: I had my own startup coming out of college and getting into the professional world. And at the time of me learning about Crypto, had I not gone through a rough patch within my own startup and needed to go work at another startup just so I could, you know, keep the lights on and learn about Crypto, it changed my whole trajectory of life. So sometimes, even though you’re seeing or feeling like you’re in a negative situation, you can still turn it into a positive that changes your whole trajectory and helps you ultimately get to where you’re supposed to be going, as long as you have the right perspective and want to grind through it. So I really do resonate with that and I just wanted to, for everyone going through this right now, everyone’s living in this COVID world, unfortunately, there are a lot of people that are struggling in a lot of different ways, but it doesn’t mean that this has to be a negative point in your life. This could be that moment that flips that switch that changes the whole trajectory and Crypto and Blockchain and this whole community is a great way to pull yourself out of a potential bad situation that you’re in.
00:10:39:07 – 00:11:41:17
Coach K: Absolutely, man. Like, I’ll tell you right now, I’ve never made more money in my life than before COVID and during COVID and after, I mean, whenever after that will be because instead of dwelling on all this crap, I was like, Cool, now I get to be home all the time. I don’t have to waste time going to an office, I don’t have to go out so much. I can just wake up and when I wake up I start working and I look over my stuff and maybe do five minutes of meditation, kind of get my head right before I start and then go. And then like the thing a lot of people don’t realize when they don’t have a lot, they can all have a lot. You know, if you’re watching this right now and you’re like, Oh, man, sounds easy, it’s not. You grind man, you grind and then all of a sudden it’s like, click and you’re like making money and you’re like, Wow, this is really not that hard. But you did all that work to get there and it’s kind of like digging a hole. At the start, you have to really get through the sand and all that stuff, but eventually get to the clay and it’s kind of wet and you can just get it out of the hole, you know. And so it’s that grind you have to have and it’s not easy.
00:11:41:26 – 00:12:47:15
Coach K: You know, everyone thinks it’s easy, everyone doesn’t realize, like all the other stuff you have to do before that success. And if you’re not scared to do those things, and to put the time in, anyone can do it and mindset, like I’m a trader, I trade full time, my company is based off of trading. And the one thing that is the most important about what I do is that I don’t focus on just the charts, I focus on what’s here. I think about how do I feel? How am I acting? And you really get your mind right first and then you go, why does this happen? Where is this happening? You look at it objectively and when you have your mind right, you do really well. And like, I’ve helped so many people that were like, not successful or they weren’t good at the investment side of things and I gave them the mindset of take profit, do these simple things and they started making money. And some of them made like six figures in the last few months because I’ve been telling them, like, this is what you do and this is how you do it and you don’t hold a project forever. If you believe in it, you can still hold it, but don’t hold it forever. Take profit, you can rebuy it lower.
00:12:47:21 – 00:12:48:06
Richard Carthon: Right.
00:12:48:08 – 00:13:01:15
Coach K: And these little things that are really just your mindset help people so much. And that’s what like, the coaching side is, because I just want them to be successful. I’m not jealous. I don’t care if someone says I made a million dollars this week.
00:13:01:17 – 00:13:02:02
Richard Carthon: Right.
00:13:02:04 – 00:13:07:12
Coach K: I’m like, Yes, you made a million dollars, that’s big. Awesome. If I helped you with that even better.
00:13:07:14 – 00:13:07:29
Richard Carthon: Right.
00:13:08:01 – 00:13:22:05
Coach K: You know. And I think that if you feel that for other people and you’re genuine, then you really do help them and you build that community because people want to feel a part of something. They’re all stuck at home, they don’t get to go with their friends.
00:13:22:17 – 00:13:23:02
Richard Carthon: Right.
00:13:23:04 – 00:13:39:28
Coach K: They want to feel a part of something to build something that really resonates with what they want in life. Everyone wants friends, everyone wants money, everyone wants success, but if you don’t focus on money and you focus on good mindset, good friends, good people around you, hard work, all the money will come to you anyways, so you don’t have to worry about it.
00:13:40:09 – 00:13:40:24
Richard Carthon: Right.
00:13:40:26 – 00:13:42:26
Coach K: Focus on the people around you, the relationships.
00:13:43:07 – 00:14:27:23
Richard Carthon: You’re spitting knowledge and facts, man. And the thing that I like about it the most, just like you said, so that coaching aspect and even you know, talking about your background within the sports community, most people in life, anything that you do for the first time is a challenge. It is hard and a lot of people don’t want to risk looking like a failure because unfortunately, we live in an artificial world where everything has to be showing the latest and greatest of what I’m doing. But like, it does not matter ultimately, if you want to get in and you want to learn and if you’re hungry and if you want to be able to create that potential financial freedom or learn about trading or you want to learn about like, how do I even get involved and everyone’s talking about how they’re making money from this new Crypto space.
00:14:27:25 – 00:15:00:18
Richard Carthon: You have to learn. You first have to educate. Just like you said, you’re an educator, you go and educate people, but then you also coach them up. Like, understand every trade isn’t going to be a win, but if you can learn how to make incremental wins and build upon it and you start building some snowballs, like then whenever your big wins are then offset by some losses that are going to happen, it doesn’t matter because you’re used to it. You can stomach it. You built up that stamina and I think that’s like, really important to speak on because a lot of people just think like, Oh, you’re supposed to come in and you make it, if you don’t, you get out of there because, Oh, I don’t have the stomach for this. You have to build that.
00:15:01:29 – 00:15:49:13
Coach K: Yeah. And the funny thing about Crypto is this is like the most challenging industry with some of the people you come into contact with because you know, I had a time. I’m part of a group called Spectre Group, really good guys. And they’re my buddy Bitcoin Brown, Lucky, all those guys, shout out to them, you know. And everyone in that group at one point, I had this crazy hot streak where I like, literally said, “Go into this trade, this is looking good.” And I was like, Bang, bang, bang. Then some people started saying, like, “You never get it wrong.” And I was like, Whoa, whoa, whoa, I know you hear this on YouTube every day by these influencers, but I get it wrong a lot. They’re like, Really? And I’m like, Yeah, just because I’m hitting 95 percent for like two weeks, three weeks, that doesn’t mean that it’s going to be forever.
00:15:49:21 – 00:16:56:12
Coach K: And when I go through a rough patch it’s going to happen and then even when I miss trades, I’m like one of the only people on YouTube who would be like, Yeah, I missed this trade, let’s look at why I missed this trade or I stopped out, why did I stop out? What was wrong about it? And I go and actually show people I made a mistake and I’m really humble about it because I think people need to be like that. They need to be like, All right, I’m great when I’m great, cool, but let me show you, like the reality of this situation when you’re trading. The thing on getting to bring it all full circle is in Crypto, everyone will tell you you’re amazing when you’re amazing, but the second you make a bad trade or a trade they don’t agree with, they will be the first people to tell you how you’re wrong or you don’t know what you’re talking about. One guy said I didn’t shave and he said I look like a bum this week, it was hilarious. I was like, All right, I own a couple of houses. I’m a bum, okay, all right, nice. But it was just like they want to bring you down and this is why I always bring people up around me. I don’t let that stuff bother me, but you have to be really strong for that. If you want to be in front of people, you have to be okay with people saying the worst stuff about you, even when you’re doing stuff right.
00:16:57:11 – 00:18:09:26
Coach K: And this industry, it’s the best and the worst because you have the greatest people, but you also have people that will try to drag you down at any point. And I think that if you resonate with good people and you cut the bad people out, it’s just like real life. You cut cancer out of your life, cancer won’t keep spreading in your body. But if you let people with a negative mindset and horrible attitudes stay around you, eventually you’ll go from the smiling guy who is always happy to the guy who is always negative. That stuff really messes with your investments, it really messes with your family, messes with your friendships. So all the stuff that you do in regular life, you apply that in your business and everything else you do, it becomes a lot easier. I think a lot of people forget that when they’re grinding so hard. I think that it’s so important and so many people overlook it. They focus so much on the money they can make and it’s going to make you moon and all that stuff, but really it’s like, dude, if you make great relationships with people, you can make a difference in other people’s lives. And opportunities will come every single day and you’ll be able to choose which ones you want and which ones you don’t like.
00:18:09:28 – 00:18:10:13
Richard Carthon: Right.
00:18:10:15 – 00:18:43:15
Coach K: And I think a lot of people need to hear that more often. And if you’re sitting at home, you’re like all COVID made me lose my job or things are really hard, like I told my brother, he lost his job. He worked for the Saskatchewan Roughriders in the CFL. He was a director there even. They cancelled the season, he lost his job and I was like, Dude, I’ve been telling you for four years get in Crypto man, like even a little bit. You’re so talented, you do such amazing stuff with marketing. You have such a creative mind, like you’re even more creative than me. Like, why are you not? I’ll get you a job as a CMO, you would be amazing at it. And he’s like, I don’t know about the industry.
00:18:44:02 – 00:19:28:25
Coach K: This is where another thing that I did was, if you go on my YouTube channel, I did this little present for the world, for Crypto. A lot of people say to you, I don’t understand that or it’s too hard or I’m going to lose my money or I don’t understand these wallets. My mom did this all the time and I was like, how the hell can I help people get away from that? So I made a course. First I was going to charge people for it, took me like three months of my life, really built it up and I was like, you know what? Just recently I was like, man, what can I do for people? I’ve had a really good last few months. You know, I’ve done really well. How can I give back to the community? So I was like, I’m going to put my course that I was going to charge people for on YouTube and give it to the world for free for Christmas. Like, spread the love, spread the happiness.
00:19:29:07 – 00:20:05:03
Coach K: So I started out with the first four courses and every day, like an advent calendar, I’m adding in a couple more of the course lessons so people can go through them and just learn about like, the history of money, why Bitcoin is money you know. Or the terminology in Crypto, like what does moon and lambo and all this stuff mean. What does it actually tell? What are people talking about? Kind of like how you would in a course in high school and then give them the pieces. What is centralization and decentralization? and What are exchanges and how do you use them? What’s a wallet and what kinds of wallets are there and how do you secure it safely? And so I built that up and I was like, I’m going to give it to everyone for free, because now no one has an excuse.
00:20:05:12 – 00:20:05:27
Richard Carthon: Yeah.
00:20:05:29 – 00:20:15:14
Coach K: You know my mom would have an excuse, my brothers had excuses. I’m like, Dude, they’re seven, eight minute videos, there’s 32 of them. Some of them you might already know, so it doesn’t matter if you don’t watch them. They’re all on YouTube, so go watch them.
00:20:15:29 – 00:20:16:14
Richard Carthon: Right.
00:20:16:16 – 00:20:27:08
Coach K: And I think that you know, a lot of people coaching and being someone from sports, we always want to give back. I played sports for 14 years at a very high level, this is my way to give back to people in Crypto.
00:20:28:22 – 00:21:31:13
Richard Carthon: And to educate. So, I mean, just on that note, man, like, what’s cool about this, now that Crypto has been having a good couple of months, it’s appreciated in price and people are paying more attention to it. I’ve had a lot of old family and friends, they’re hitting me up like, Hey, tell me about blah, blah, blah, blah. And what’s great now is through Crypto Current, I can give them videos, I can give them articles, I can give them a podcast. Like I can literally hand this and say, you have no excuse. Here are all the ways that you can get involved right now. And something that I kind of just want to touch on and I know you have a ton of different projects and everything that you work on and you talked about how important, like marketing is or just being able to create things and break it down very simply. But with all of the various things that you have your hands on, what is the recurring theme that people don’t get that you’re able to come and clarify and show like this is important? And I would assume it has everything to do with communication, education and showing the value of people.
00:21:32:15 – 00:22:31:12
Coach K: Yeah. Crypto is a very community driven industry. A lot of the best projects are not always the best projects, but they’re the best communities, right? A good example of this is Link. I love Link and Link Marines are crazy, they’re like SRP Army. They have a big army, too. Why are those people important? Because they’re the ones who spread the word and the knowledge and education about that project. Otherwise, no one knows about it. There’s 3,000 projects, 5,000 projects, 10,000, who knows how many there are? Every week we have a new project, 70,000 ticker’s, whatever it is. And how are you supposed to know which ones are really important? Well the thing is, if you want people to talk about your project and know about what you’re doing, the best thing is to have a really strong community. And so that’s why you have a bunch of Oracle projects. I’m not going to name names because I really like a lot of them, but that’s why you have a lot of them that aren’t as big as Link yet because they don’t have as strong a community.
00:22:31:27 – 00:23:30:21
Coach K: Now building the community, this is probably the number one thing you should do when you’re in the industry. And it comes, unfortunately, with this industry a lot of the time with some hype, that’s just how it is. So, you want people to feel like this is the new big thing, I can’t get it, it’s not easy. So, a lot of the projects that actually asked me when they brought me in because they’re from a traditional side of things, they say to me like, How do we do this? How do we get people excited about a project? And that’s the one thing that’s the hardest for those projects. They may have the greatest tech or the greatest team or really good tokenomics, it doesn’t matter. People have to like your project and know about it. So say like, how do we do this? How do we get people in? And I’m like, Well, it’s a recipe. But at starters, you make it so that certain people know about it and that only they know about it. And only if you’re going to raise capital for those projects only go to certain people and make it very exclusive.
00:23:31:00 – 00:24:19:29
Coach K: People always want what they can’t have, right? If you’re a project out there and everyone can get your token, no one really cares about it because anyone can get it. But if you’re exclusive, then it’s really interesting. Then you use PR. You get some PR out there about your project, you get some interest, then you get the people to come into the community, you get some influencers. So, it’s kind of like a recipe for how to do this. And if you watch the industry and you watch the projects that have a lot of that hype and great marketing, it doesn’t even have to be the greatest marketing persay on Earth, it has to do with how you can connect with their emotions. And then once you give them what they want, which is like I’m in the new hpe project, I got in. Awesome, then you give them what they need is the education, the understanding, what you’re doing, how you’re doing it differently, what the token actually does and why you need it.
00:24:22:02 – 00:25:40:04
Coach K: You know, to be really honest, most of the tokens aren’t needed. So why do they need the token? Well, what use cases does holding that token or staking that token, what is it going to give you as a part of that community? And if you find the right amount, if you massage it out really nice and find that right balance, then you create a really strong community. And then the most important part is if you see some projects out there that you’re in right now yourself, one thing that I’ve noticed is CEO’s that are like super active in their communities and do a lot of AMA’s after they raise the capital, after all that stuff, they keep engaged with their community. They see a lot of long term success and then there’s a lot of these guys that come out, they raise a lot of money, and then they’re kind of gone. They don’t keep doing podcasts, they don’t keep going into communities and chatting and over time, they lose a lot of the interest because there’s 100 projects a week. How are you supposed to keep relevant? So you need to continue to connect with other projects and you need to connect with your community. And when people love you, we see the memes, we see the stickers that people make, that’s what you want. And I think that is the one thing a lot of good projects miss and then they become very under the radar.
00:25:42:01 – 00:26:57:21
Richard Carthon: Really good information. Like one, to create the hype, then two, to create exclusivity, then three, to educate and show all the different use cases. Like, I really think all of that’s really important. And just understanding, doing your own research and making sure and this is more on the other side for people who are looking for these different projects, why they make sense. Do your research, be part of communities like Coach K’s because it’s on your radar. First, you get to know that it exists and that’s important, then two, you get to know why it is or isn’t a potential good opportunity for yourself because even when you’re part of the community, it doesn’t necessarily mean you see a project that you agree with it, that you want to move on it. But you will at least have access and you can make a move as quickly as possible. And I think that’s what is really cool, just like you said earlier, about being around really smart individuals and people and expanding your circles, but being part of the conversations because now you’re getting even more access to things that you otherwise wouldn’t. And now you can make moves, educated risk and things that you can live with, but like can make the decision to participate or not. But you can’t even have a seat at the table unless you go and be in the same room, right?
00:26:58:20 – 00:27:30:26
Coach K: Absolutely. Yeah, the thing that I offer a lot of my guys and I mean I have a referral based community, like I built that up for four years, I make sure that I don’t let just anyone in. It’s exclusive in itself and the reason I do that is because I don’t water it down. I want to make sure that I’m connected with all the people in my community and it doesn’t mean I don’t let anyone in. I do, but, I try to keep it like, not with thousands of people when there’s no one active. Almost everyone’s active at least once a week in my chat, it’s pretty wild.
00:27:30:28 – 00:28:15:27
Coach K: But, the thing that I do is because I’ve been in the communities for so long and because I was here the whole bear market and speaking at conferences and doing all that, I get told about stuff early. People come to me like, Yo we’re doing this new project. I’m like, What is it? And they’ll tell me about it. I’ll be like, Wow, that sounds interesting. And instead of going to my guys and being like, Chill, I’m going to tell you why you’ve got to buy this project, I literally go and I’m like, This is what the project is, this is what they’re doing, this is how they’re doing it and I give them all the facts and then they end off with do your own research. I’m not telling you to go and buy it, but, well, I’ll tell them if I’m going to buy into it, I’ll say, “Yeah, I’m going in with this project. I really think it has good potential.” But I never tell people, go and buy something. It’s just not my style.
00:28:16:05 – 00:28:16:20
Richard Carthon: Yeah.
00:28:16:22 – 00:29:42:27
Coach K: I’m much more on the fact. Like, when I come to people with information, they know that it’s been done. I’ve done my research, I’ve looked into the team, I’ve looked into who they are, I’ve looked into what the use cases are, I’ve looked into every little piece of the aspects that I think from a fundamental reason would make it a good project or a bad one. And that even comes down to tokenomics, which I would say 98 to 99 percent of people in Crypto don’t understand. And I would say that 98 to 99 percent of people don’t even read the white paper. No one reads the white paper, no one cares. They want to know if it’s a good idea and that’s it. So I can break down a white paper for someone and tell them this is the concept of this 25 page huge document. This is what they’re trying to do, this is the people they have. Can they do it? Maybe. And this is the token and this is why it’s a good token or bad token. And a lot of people have asked me recently, can you do a show on tokennomics? And I was like, Sure, it’s really a lot more simple than you think. And so I used some models like from PlotX that I did and Aubit that I did. You know, for AnrkeyX, we did it the way we did it, why with my own projects, basically, with a non-executive director, why I came in and I was like, these tokenomics got to change, I’m going to change them. They’re going to be amazing and everyone will dump the token. And they were like, What? An antidumping tokenomics thing? This is amazing. How did you do it? And I was like, Let’s stop giving everyone advantages.
00:29:42:29 – 00:30:58:13
Coach K: Like the biggest problem in this industry, you got seed getting it at 50 percent off for 100 percent off, like you’re getting a two X guarantee when you get your first tokens. So they’ll be able to hold it, sure, if it pumps originally and they’re going to sell it four or five X. And that’s a lot of sell pressure in terms of how much money the market makers then have to go and then have so they can buy that dip because they’re going to create a huge one if you have a lot of seed investors with the cheaper price, a lot of private investors with the cheaper price, and it doesn’t matter if they only have some tokens and then everyone else is public. You still have the public people buying and knowing they’re going to get dumped on. Well, if you create a model where everyone pays the exact same price for the token, whether they’re seed or they’re public or whatever, everyone pays, let’s say one cent for a token. When it launches, who’s dumping the token? I paid one cent and I have no benefit. Obviously, I’m going to hold it. And obviously, people, if you’ve created enough exclusivity in your model that not everyone gets in, so now you have a natural token supply and demand model where no one is dumping because they haven’t got a benefit. And then this is like a model that also, a project called Coin Use, where they gave it a ten cents for everybody. And I think that that is the way to do it these days.
00:30:58:15 – 00:32:02:06
Coach K: Stop giving people benefits and breaking it down like that. If you want, do equity, give people equity, give everyone the token at the same price and let it naturally grow the project. And this is something that I really didn’t think about till maybe the last two months. I started thinking about watching projects and seeing it’s perpetual, Oh, it’s the thirtieth, five days before, dump. All the people dump their tokens. Token release, dump. Okay, then they buy it back and they dump them here. They’re like Sweet, it’s half off or 30, 40 percent off. They buy it back when it goes lower and then again, it rises back up a little bit over the month and then five days before they dump it again. And it’s just this game, it’s game theory, right? It’s people just like I’m smarter than you, I’m going to sell it in front of you. So I think that’s like it’s okay because long term, eventually they’ll dump all their tokens and then that last allocation will come out and the tokens are all out and then no one is worried about dumping. And then the public will buy it because it’s a good project. But at that point, how many other projects have come out that are similar and stuff?
00:32:02:08 – 00:33:06:26
Coach K: So, I think that when it comes to tokenomics, people don’t understand how to read the different models and that if you buy it for half of a cent at a seed round and it launches at 1.5 cents, you already have three X, right? And if you sell that right away, you’ve made three X on your investment. So why would you hold it? You could sell it at three X and then when the price goes down, buy it back and get more tokens. So this is the bane. It still works, but if you followed THORChain RUNE, look at what they did. All their tokens were out in two weeks and they’ve done 100 X. I’ve seen this model used a couple of times and I think that if you’re out there and you don’t really understand the tokenomics, look for those type of tokenomics. They’re the ones as an investor, you will not have to worry about. This guy’s got a lot of money and got access early and he’s going to dump on me and you can be a part of the project and not have to have that looming over your head. And you won’t find many projects that do that, but when you do find them, those are the ones to focus on for investing.
00:33:08:04 – 00:33:08:20
Richard Carthon: Those are the gems.
00:33:08:22 – 00:33:09:08
Coach K: Yeah, those are the gems.
00:33:09:10 – 00:33:14:18
Richard Carthon: Those are the ones to jump all over. And I tell you what, if you do a video on that, be sure to let me know. I’ll make sure to share it with our group.
00:33:14:20 – 00:33:15:05
Coach K: Absolutely.
00:33:15:07 – 00:33:29:01
Richard Carthon: It’s important to learn about tokenomics and also as you learn about trading and everything else and getting involved. But I’ll tell you what, man, you have dropped a tremendous amount of knowledge on us, but as we wrap up here, what is the final thought that you want to leave with all of our listeners here today?
00:33:30:06 – 00:34:07:15
Coach K: I’ll leave you the final thought of you guys are in control of your own destiny, right? No one else tells you what to do in life, but you. As much as it seems hard and you may not understand something, the only person that stops you from understanding it is you. There is YouTube, there is a ton of information on the Internet, if you want to learn something, just go do it. Take the leap of faith, don’t be scared because I’m living proof of someone who took a leap of faith through a bear market, made it through, and now I’m on the other side and everything is starting to come together. And it might take you a couple of years to figure it out, but you still can keep your job and do everything.
00:34:07:17 – 00:34:39:28
Coach K: So, I would just implore all of you guys to not be scared, don’t let the whole idea of Crypto and all this confusing terminology stop you. Get the information, learn about what you don’t know, right? Know what you don’t know, so that you can know what you know, right? And if you do that, you’re going to see more success in everything, whether it’s Crypto or not that you do. And focus on that, that’s number one. And you’ll be like you’ll feel so much more grateful for everything that you do when you do it because you love it and you’re passionate about it.
00:34:40:08 – 00:35:21:02
Coach K: And COVID as much as it sucks, we’ll leave you with that, as much as it sucks and you might be stuck at home, I’m not. I’m lucky, I’m in Thailand. We haven’t had that, I still stay at home and work all day. But if I was stuck at home and I couldn’t leave, find ways to benefit your life. Don’t feel sorry for yourself. Life sucks sometimes, life is amazing sometimes. But overall, if you take the time to really focus on you and doing something that will benefit yourself or your husband, your wife or your kids or your boyfriend or girlfriend or your parents, whatever it is, you’re going to be so much more successful and you’re going to be more grateful for everything that you do because you’re going to do what you love. So focus on that because you have time to do it right now and I’ll leave you with that.
00:35:21:18 – 00:35:30:15
Richard Carthon: That is an absolute great final thought for us today, I appreciate that. What are ways that people can learn more about what you got going Coach K and can connect with you?
00:35:31:14 – 00:36:29:12
Coach K: So, if you guys go on to Twitter, I’m not super active because I don’t really care about the whole glam of being Anji Kanji or CZ, but even even though they follow me and stuff, I don’t really care about that kind of stuff. But you can find me there if you want to connect with me, I do talk to people. It’s @Coach K Crypto. If you look on Telegram, it’s the same thing, on Instagram, it’s the same thing, if you go on on LinkedIn, it’s the same thing. It’s pretty easy to find me, I use a very branded @Coach K Crypto everywhere you go. And then if you’re going on and you’re wanting that free course that I did or my weekly videos that I do, kind of breaking down the market, analyzing from a fundamental, I also interview people just like Richard does, so if you want to come on to my show and do that, just follow me @Coach K Crypto on YouTube. Subscribe and like, smash them up. Do the same for Richard man. Yeah, hit that bell, you know what it is.
00:36:30:22 – 00:36:36:05
Richard Carthon: For sure man. Well again, thank you so much for joining us today. Really appreciate your time and for everyone listening, Stay Crypto Current.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.