I went on TV for Shiba Inu.

more popular with investors but there's

also something called altcoins and one

of them is getting a ton of attention

joining us to explain which it is as

youtube financial analyst kevin paffrath

kevin

we first have to talk about would that

look been in the governor's office had

you uh

had you been successful with the recall

no this is a little bit of a protest of

politics

understood well i'll tell you what you i

can't miss you in the crowd we would

never get separated uh let's talk a

little bit about altcoins how do they

differ from the

bitcoins and all the other

cryptocurrencies we're hearing about

absolutely altcoins are really being

designed as a way to solve some of the

problems of bitcoin i mean look at it

this way elon musk has now over a

billion dollars with tesla invested in

bitcoin but he stopped taking payments

in bitcoin because bitcoins just deemed

to be uh too dirty of of a currency

energy use wise right now and we're

looking for something that's faster for

transactions and so this has given rise

to a lot of altcoins that promise to do

what bitcoin can't although bitcoin

promises to one day evolve people say

hey we can use coins like shiba inu to

do faster transactions at lower costs

and less energy usage and therefore

maybe these are the next frontier for

investing think about this shiba inu is

the 19th largest cryptocurrency right

now it's bigger market cap wise than

cheesecake dave and busters and shake

shack combined that's the cheesecake

factory it's bigger than all three of

those combined and it's this coin that

was created off of a joke

called dogecoin it's designed to be the

functional version of dogecoin and it

goes up anytime elon musk talks about it

so yeah it's uh it's it's an excellent

opportunity for both fun entertainment

and hopefully investing as it proves

itself in the future so your knock

against bitcoin when you refer to it

being dirty is are you referring to the

mining of these

elements that are required to create it

exactly and look i don't want to dis on

bitcoin i invest in bitcoin but here's

the thing

bitcoin miners say that 70

of bitcoin is mined using renewables but

the problem is we don't know how much of

that is actually renewable that they

might just use of you know some

renewables but not for all of their

crypto production or their mining

production so this has led to estimates

and they're kind of unclear but

estimates that about 33 percent of

bitcoin mined today is done with

renewables uh a lot of it still today

like about 66 still using coal now that

china has banned mining though we're

seeing a lot of bitcoin mining take

place here in canada or north america we

expect that bitcoin mining is going to

get a whole lot cleaner which is really

good for the industry and anybody who's

worried about regulation coming

personally i'm optimistic about

cryptocurrencies and regulation coming

from our governments here in north

america so kevin it seems to me the the

whole

altcoin bitcoin that whole market

we're separated by an age barrier old

guys like me don't understand it and

we're scared of it young guys like you

embrace it and say it's the future

will those two

groups ever intersect do you think

absolutely so here's what's happening

and this should give you some more

comfort is when you start having bank of

america and wells fargo and jp morgan

chase authorizing their wealth managers

to direct uh their their advisors to

mention hey we can get you invested in a

crypto in a safe and secure way then you

know there is a future in

cryptocurrencies you've got visa

mastercard massive corporations with

huge stakes and cryptocurrencies so

they're not going away any time in the

future my recommendation is

if you want to get into having more

knowledge take a small amount of money

start with 100 200

throw it into bitcoin and ethereum take

50 bucks throw it into something fun

like shiba inu and so that way you can

start getting more educated see once you

actually put a little bit of money to

work in something you really start doing

more research you pay attention to the

news more and you become more

comfortable with it over time and pay

attention to elon musk's twitter as well

especially if you're interested in shiba

inu everybody's waiting because he owns

a shiba inu dog and anytime there's a

picture of his dog named floki shiba inu

does very very well but exciting things

coming to the sheba network as well

potentially today with their digital

artwork release coming today which a lot

of folks are very excited about buying

those nfts and digital artwork well we

just threw up a picture dog good looking

dog and i i you know who doesn't want to

be associated with elon musk i mean he

seems to have the midas touch or the

shiba inu touch if you will hey kevin we

have to call it a conversation always

entertaining chatting with you and you

know what i might just follow your wreck

i might have a hundred dollars laying

around somewhere

there you go give it a shot you'll learn

a lot and it'll expose you to a new

world of thinking and i'm excited to

have you in the future all right

kevin we'll talk again all right