Are you FOMOing into Crypto? Bad idea: Ben Simpson, Founder & CEO of Collective Shift
Don’t FOMO into Crypto. It’s a bad idea….
Ben Simpson, the Founder & CEO of Collective Shift, breaks down Crypto in a simple way, says we should never let FOMO takeover in Crypto, and explains why he is too emotional to trade.
Collective Shift is a global Web3 education and research platform which offers tools to traders and investors, expert daily insights and a thriving and supportive community. Ben is the co-host of two different Crypto podcasts and he loves Bitcoin, start-ups, entrepreneurship and almond lates
Time stamps
- [1:08] Introduction to Ben Simpson
- [1:40] Explaining cryptocurrency to a 5-year-old using animals in a zoo as an analogy
- [2:41] How did Ben, born and bred in Tasmania, get into Crypto?
- [4:36] Identifying a lack of education in the world of Crypto
- [5:29] Ben explains what we need to understand about money
- [7:13] Biggest arguments against Cryptocurrency
- [8:52] How early are we right now?
- [9:50] Ben’s advice went it comes to Crypto FOMO
- [10:55] Ben’s take on the Web3 industry
- [11:48] What’s a Bitcoin Maxi?
- [13:03] Why community is so important in Crypto and Web3
- [13:45] What advice would Ben give to his younger self?
- [15:06] How much of a role does intuition play?
- [16:14] Why Ben is too emotional to trade
- [17:04] Qualities needed to successfully trade in Crypto
- [17:56] Myth-Busting: Bitcoin is not a ponzi scheme
- [18:34] Stay safe from scams
- [19:53] Wrap-up
Key takeaways
- What is Cryptocurrency, in simple terms?
- How did Ben get into Crypto
- The possibilities Bitcoin presents compared to Fiat currencies
- Why you need to understand money before you buy in
- Why Bitcoin makes sense in comparison to inflation and hyperinflation
- Outing multiple Bitcoin myths
- Why we shouldn't FOMO not Crypto
- What's a Bitcoin Maxi (Maximus)?
- The power of community in Web3
- Self-belief: The value of backing yourself in Crypto decisions
- The role intuition plays in decision-making in markets
- Why Ben is too emotional to trade
- The dopamine loops of daily Crypto trading
- Traders cannot be emotionally attached to assets
- Myth-Busting: Bitcoin is not a Ponzi scheme
- Stay safe from scams: If it's too good to be true, it usually is
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Podcast audio editing by Dejan Djajic
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