What is Stablecoin? Why Might You Consider Using It? / Ask The Money Nerds





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In this episode of Ask the Money Nerds, Garrett, Amanda and a special guest to explore the world of cryptocurrencies.

The idea of using cryptocurrencies in our daily lives is starting to become more commonly discussed across the globe. Today, we bring in a crypto-expert, Logan Sunday, to give us the scoop on Stablecoin, how it differs from Bitcoin and why it might be a better option than Bitcoin if you’re looking to create a hedge against the dollar.

Article mentioned in the conversation at 17:20 :
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Garrett is the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

He is the Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and is a contributor for Forbes. Garrett is a frequent speaker at workshops and conferences. He lives in Salt Lake City.

Garrett has also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

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This video is about What is Stablecoin? Why might your consider using it? / Ask The Money Nerds

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14 comments

  • Hey Garrett, I’ve been watching your videos lately on sacred cows and such. How do we know conversations in general and whats going on with any type of crypto is a type of sacred cow in which now the public believes they have to invest in it?

  • Just wanted to let you know that every time I come over to your Youtube channel from something else I've been watching on Youtube, I always have to raise my volume to hear your videos. I'm not sure how to suggest to rectify that, as I don't know anything about recording videos, but maybe it has something to do with the volume when you're recording? Just thought you'd like to know. Best Wishes and thank you for when you give really detailed content. I find the more detailed you are, the more helpful it is to me. Concepts are great, but to get from "here" to there", even for resourceful people, it's helpful and appreciated when the content gives the "real goods". So thank you for all the times you do that. It would also be great if you were able to provide transcripts. I'm not sure how you would monetize that, unless you created a blog (that you monetized). Sometimes it's easier for me to read ,than watch or listen, especially when I'm trying to get to the "good stuff" quickly. Best Wishes

  • As a more "conservative" crypto investor, I use the profits of trading btc, eth, link, etc to build reserve using STABLExoins such as PAXG, which is backedup 1:1 to REAL GOLD in storage.

  • I don't think that keeps up with inflation.

  • USDC is a game changer. 😎 Getting paid actual interest versus the bank just using my money is a much better setup.

  • Your what might consider using it??
    Spell check dude

  • Garrett and team, really appreciate everything you do! Keep it up! My favorite Cryptocurrencies YouTube channel is Altcoin Daily. They grow subscribers every day, most videos are 10 minutes with excellent, researched, info for and against all things crypto. I have watched almost every video since March 2019, so I feel my recommendation is qualified.
    https://youtube.com/c/AltcoinDaily

  • Glad you listen to my last comment on the other video to talk about more about stablecoins advantages. Look into Abra and Nexo crypto banking. Abra is currently doing 5% on Bitcoin/ETH and 10% on stablecoins USDT/TUSD/USDC/Paxos/Dai. Nexo has a better APY at 12% more coins as well.🪙

  • @Garrett, you should really invite Zac Prince of BlockFi to your show to talk crypto or Anthony Pompliano

  • And coin backed by USD is garbage and pointless

  • Genius, You launched it around the correction good strategy

  • You're totally missing Hedera.com. It has it's own token, the hbar that acts like "network gas" but can also be used for wallet transactions.

    Hedera hosts many tokens including at least one stablecoin https://www.carbon.money/.

    Hedera is an all-purpose enterprise grade public DLT network owned by a council of global enterprise companies (Deutsche Telekom, Boeing, IBM, LG, Google Cloud, two of the largest global law firms, [up to 39 orgs]…)

    In the future you'll be able to "stake" hbar tokens on nodes to earn (small) fees from every network transaction.

    The transfer fee for Hedera is locked at $0.0001 USD. Other transactions vary depending on how intensive the request is to the network. Compare this to other systems' fees (Bitcoin, Ethereum, etc…)

    There is no need for mining. Hedera is orders of magnitude faster than Bitcoin and will scale geometrically. It has the ONLY mathematically provable security algorithm for concensus with the highest possible level of Consensus security of any Blockchain/DLT. Maybe someone will eventually match aBFT but you can't get higher.

  • 30:27 Anyone want to do this with me😍💋 💝💖♥️❤️

  • Hey Garrett I just made a song about a Crypto ( that obviously im passionate about) I just wanted to share it if possible. And it's Rap music on SoundCloud.. I would appreciate it. As always I enjoy the content!!

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