Just a little bit about my progress here. I know I talk about Micheal Santos and that a lot of my learning comes from him. I has come up with another class that talks about Digital Economy. Digital Economy is a MasterClass it develops an understanding of the rapidly evolving digital economy so I will become more fluent with subjects that include:
Cryptocurrency
DeFi (Decentralized Finance)
Smart Contracts
Blockchain
Artificial Intelligence
Machine Learning
Social Media
Influencer Marketing
I am getting examples on how knowledge of the digital economy can lead to income streams, with examples of building businesses, investing, or speculating, with real-time numbers. Micheal Santos serves as an ambassador for lessons that he’s learning from Ryan Salame (pronounced Say-lum), who has been volunteering with his nonprofit. The decisions we make today put us on a path to seize or create opportunities in the future. Bad decisions will leave us less likely to succeed, incapable od adapting to the changing world. The digital economy brings opportunities for those who have a basic understanding of how it works, but it can lead to unemployment or underemployment for those who fail to adapt, whether a they have a felony convibtion or not. A basic understanding of distributed networks, decentralized finanace, artificial intelligence, personal branding, and social media can lead t income streams and even generational wealth. With such knowledge, a person will never have to resopnd to questions about a felony background, or any collateral consequences or a criminal conviction. Anyone who invests time to learn about the digital economy will be far better positioned to succed financially. Ryan made better decisions than MS made as a young man. As a high scholl syudent, around 2012, he began reading about Bitcoin and the blockchain. After gruadating, he studied finance at the University of Massachusetts, Amherst, and he earned a master’s degree in business from Georgetown University. He invested in Bitcoin and in altcoins, then learned how to use social media in ways that would open oppprtunities to advance his career. After beginning his career with a large accounting firm, he maneuvered his way into position with a leading crypto exchange. Ryan became a trader, an investor, and eventually a global ambassador for the digital economy. In going infinite, a book acclaimed business writer Michael Lewis, we learn that Ryan made foward-lokking trades in altcoins, such as FTT. Mr. Lewis cites an example of Ryan purschasing $350,000 worth of FTT at five cents per token. Without knowledge of the digital economy, we would not know anything about an altcoin, an Ftt, or token, for that matter. Learning about the ddigital economy is like learning a differnet language. People would have to become fluent with digital economy launguage, or terms, to understand the following:
FTT was a crypotocurrency.
It stood for “FT”= FTX Exchange “T”=Token. That means an FTT was a digital token that belonged to company FTX. It entitled owners of the token to specific rights. The maket would assess the relative value of those rights. Ryan made his purchase in a private sale, and he made the purchase at an agreed-upon valuation of fice cents per token. For that reason, his investment of $350,000 bought him seven-million tokens. If the marketprice for an FTT token went up or down by a penny, Ryan’s holding of seven-million tokens would increase in value by $70,000.
Less than six months after he made his purchase, FTX began listing the FTTs on its exchange. Anyone could purchase and FTT, at the market price of $4 per tokenor 80x more than the price that Ryanpaid for the tokens. At the rate, Ryan’s $350,00 investment to $28 million. Within two years, the market valued FTT tokens at more than $80 each. The daily trading volume for FTT tokens frequently exceeded $500 million. As part of his investment planning, Ryan had discretion to liquidate his tokens at more than $100,000 per day without putting downward pressure on the market. Every day, people earna living by speculating with cryptocurrency. To increase the odds of succeeding, however, a person should learn more about the digital economy. For example, it would be helpful to know that FTX built FTT as an ERC-20 tokenissued on the Ethereum blockchain. Those who owned FTT tokens received fee discounts and other benefits from the FTX exchange. Again, we would need more knowledge about the digital economy and cryptocurrency to make sense of such terms as Ethereum and blockchain. In the cryptocuttency would, we should think of a token as a virtual currency or asset that exists on a blockchain network. Unlike coins like bitcoin or Ethereum which have their own dedicated blockchains, business issue tokens on top of an existing blockchain platform. I am going to leave you with that let me know what you think?
