If you haven’t already bought into Bitcoin, or even the recent Dogecoin hype, it’s probably too late, and you should start looking into DeFi products instead, said Clem Chambers of InvestorsHub.com.
Is doge coin going to be the next Bitcoin? Well, that's the focus of our conversation with Clem chambers of testers hub clam. You're laughing already. I know why. Welcome back. Great to be back. I, uh, I, you have ever spoken about doge coin on our show yet. I think you are the first guest to visit this topic with me.
So I'm very excited. Let's uh, before we get into that, let's talk about a market overview. Um, as we always do now, Clem, you're on the show last in September, which was a couple months ago. I felt like yesterday I spoke to you last, but it was, you know, it was September and you were calling for a market crash.
Do you still think of market crashes happening? Well, I think it was a couple of months before that, that I was predicting the market crash and I came on your show and said, well, I kind of changed my mind. And, um, you know, now I just think that they are going to, um, print money to infinity and that the value of money is going to be going down the, down the down.
And the numbers in front of your stock prices are going to be going up and up and up. It doesn't necessarily mean that will buy you a lot more. But I do think that, um, the printing of money is just going to carry on and carry on and that's can push stocks up. Yeah. Uh, I remember you telling me that you had moved all your assets into cash.
Are you still in all cash now? I presume I, I, I got, I got back into quite a lot of crypto. Um, as I said to one of your shows, and then I got, um, slowly and then quicker and quicker back into equities where, when the vaccine happened, when they said, yeah, this thing works. I basically jumped in head first and I'm going to be riding that wave ever since.
And, you know, they're just printing and up. It's all going. Right. Okay. And, uh, at what point did you change your mind in the market volatility? Well, I mean, there's an old, um, rule about, um, trading and that is trade what you see, not what you think. And you know, when the blooming thing isn't doing what you expect it to do, and it keeps proving you wrong, you need to become one of those bitter old men that the world's coming and it's all wrong.
Or you can say, Hmm I'm I've made an error here. And, you know, at the end of the day, the only thing that could explain what is happening and it has happened. Is that it's going to be a lot of inflation. And I think that more and more people are coming around to that. And I've been in inflation is for a very long time.
So the first thing I did was get into gold stocks and that was the first ad that I made. And since then, I've kind of fanned out into things that are going to be pushed by. Okay. And why cryptocurrencies, why did you get back into crypto? If you think inflation is gonna happen, do you think crypto is well and good inflation hedges all over crypto and crypto for a couple of years.
And in fact go out about a couple of months ago, but they can't get 36,000. I mean, I'll go in at six and then been an equity person. When, you know, you kind of make six times your money. I go, I've got to go run away. Well, what I did was I pivoted into decentralized finance, um, because the last time around a bit, when the market came down, would they call it cell therapy kept going for a couple of weeks.
And I think that will happen again. So basically a Bitcoin falling will be the early warning for the rest of it, but the spicy spicy end is default. And, you know, I've been, um, investing in things. I've got a thousand percent in the last five weeks. So being in Bitcoin for an extra 25%. Is nothing in comparison with what's going on in decentralized finance, which is the very, very exciting, and the next big thing is the boom of, uh, 20, 21.
Um, as opposed to, you know, we might see 60,000 on Bitcoin, if we're lucky, but the stuff in defib has been going mental. And so far, I'm kind of getting out of that as well, because you know, if you, if I see a 10 X on something, I go, I don't care if it's gonna go. All right. Okay. So let's talk about doge coin.
Now let's move on to, uh, The topic does your, this is a look I knew about it when it came out a couple of years ago. Um, several years ago, now it, it, it was, it was a joke. Someone made a coin using a Shiba Inu meme called doge. Um, that was one of my personal favorite names. And then someone made a coin, the likeness of doge, which is the meme.
And then it started trending. I remember when I was. A couple million market cap than to hit 2 billion on tests. That's my friends what's going on with this joke. It's and then it kind of fizzled out. And now it's back in the media. Can you give us a brief definition or description of the history of this coin?
Well, what happened was, um, the Reddit community, which back then nobody really knew about, unless you were young and funky or, or desperately trying to be young, funky, like me would know about it. And I don't quit. Don't quit. I've got Adobe, you know, I'm going to be my own meme, but you know, the thing you have to understand about crypto.
This is all about brand. Okay. And it's all about the people that can cope with this new emergent stuff. And that's all the young people. So the kids are all over CryptoLocker rash there make a mega room and they got a sense of humor. Americans have learned RNA because of the internet. And so they built a ironic, um, cryptocurrency, and they did that by taking the code and basically copy pastoring it and then saying, Hey, let's, let's do a joke.
Well, it's still a crypto. It still has mining. It still does what work tends to. It's still a currency. And of course, therefore it has a life of its own. They took a Coke out of the bottom and out, came a genie and it was dos coin. And I wrote a couple of years ago before saying that those coin was a big, hairy deal because it represented the next generation of investors.
The previous generation investors were killed in the.com period. They all popped up and they went, yay. Yeah, Cisco Juniper network. And they got put to the sword by the market, as they always do. This is the next generation. And of course they've gone straight into crypto and they went into crypto first, before they mutated into the best guys that were pushing around game stock.
But this is the next generation of investors. After the one that was Slade in dotcom, boom. And they're having their way, this, I mean, natural for them today to crypto now, crypto, it feels like a joke, but, and it is a joke, but it's a real thing. And I actually had a million or million to, um, those coins in back in the day.
And it was worth just over a bit cold. Well, funnily enough, it would probably be worth just a little bit over Bitcoin now. But it's got brands. This whole market is about Brent and the equity market is about brand. No, Tesla's, by the way, she's off the blueness scale is because he's got a fantastic brand and brand is important because we're living in another tangible world.
Yeah, no, I was just gonna say, uh, Clem, I don't and tell me, understand that doge coin brand. I mean, I understand the Tesla brand. I mean, they. At the end of the day, they make fantastic products. They have cars, they have battery packs. They have, they have, uh, renewable energy, uh, grids, but w what, what, what does doge coin, well, let me ask you this.
Are you wearing a pair of Yeezys? Uh, I'm currently not, but I think I know where you're going with this. Yeah, yeah. You say they would, the younger generation would demeanor, you know what I'm saying? And it'll hit the younger group too, so that's great. But my age group, one of them was that. Right. So, you know, that is what drives that generation.
That's there rock and roll. And crypto is their rock and roll. And those coins don't is one of their favorite bands. Yeah. So this is just the next generation doing its thing. And that's what makes it powerful because they are the emergent generation. They are the, the, the digital natives. And this is a digital native currency.
So it's, it's a everything coming together. So they are, and also it isn't $40,000 a coin. So it's actually assessment to them and they get it and it's there in joke and so real thing, and it's a brand and they are even more brand centric and internet brand centric. That's what means our internet brand.
So it's a confluence and intersection of all these younger generation things, all crossing over. With dos con and that's why someone like Musk is all over it, like a rash. And by the way, I'm wearing orange in, um, in his honor, because this is probably going to be the color here everywhere. And he's, he keeps pumping those coins and you know, the younger generation and him again, it's a conference.
That's why he would mention those coins because that's the leading edge, the tip of the spear of the whole crypto movement. Yeah. Uh, why, why do you think what wa doge coin has been around for, for a number of years? Why do you think it's just starting to really trend with, uh, with mainstream media now, and you've got, uh, prominent industrialists and, uh, leaders of business, like Elon Musk touting the coin.
What, why, why is it? I think that. Um, in a boon, everything rises or a rising tide raises all ships and all the cryptos are going up the Menards of this world, et cetera, et cetera. They're all going up the wall. But obviously when you have somebody who's influential, um, almost the ultimate, um, influencer.
Mosque brings it up as much as anything as a joke, but also a joke that has an underlying and mean, right. It's natural for people to gravitate towards, again, the brand it's got a phone, very, very strong brand, even though it's a joke, it's a joke that everybody knows. And you know, all these kinds of gone up multiples and because it's being brought to the fore by somebody who is absolutely a brand in Boston, which is mosque, everybody now knows about it.
So when, if you're new and you come to it, you go, I'll have a little bit of the Bitcoin and I'll have it. Well, the ones who I know. Oh, that, Oh, the doge coin. Oh yeah. Don't be, go ahead. I'm happy. I can have a hundred of those and it's these. Yeah. The power of the brand is overwhelmingly important in crypto.
Be it in, in tokens that theory them being crypto, um, whatever. Area of, of, of crypto you're looking at brand is the defining thing to look for in your investment. Cause that is what is going to drive those various pieces, um, through what will be a goal there. Um, to survive and be the, the Titans of the future in crypto.
And that is going to happen at the next 10 years. These things are going to be absolutely gigantic. Yeah. If you, if you were to jump on something like doge coin, now, what kind of investing with, or trading would that be? Would that be like trend investing swing? Would that, would you be catching the momentum?
How would you define quite? Yeah, it's quite interesting because you know, basically, um, people coming in now are getting late to the party. Right. And they've really got to decide what they're going to do. And I would say what you should be doing is not investing, not trading, but educating yourself. So if you buy doge coin is because you want to learn about those points and you want to learn about wallets and you want to learn about what, how it gets mined and all the detail that you need to be able to make good investment decisions.
So now if you're entering. You really, really want to be thinking about scaling up rather than about making money with a bit of luck, you'll make a lot of money, but it is a skill game. It's very, very, very, um, volatile and business. You know, these things can go up double overnight and crashing half the next day.
It's a very, very dangerous market is trade this market for sure. And investors market right now. It's a, it's a very, I'm not investing right now. I'm trading. I mostly investing it before it went up 400%, but now it's, you know, it's not a cheap market anymore. So you really are. You really want to know what it is you're trying to do.
And if your phone battery, if you're eight peanuts, they call down AP to stuff though. Don't, you know, don't get FOMO cause that's going to cost you a lot of money. Well, speaking of FOMO, I mean, I was, I was watching some blogs on, on YouTube from some crypto traders and some people were speculating that like I opened with the, uh, with the second doge coin could be the next Bitcoin, but there was a time when Bitcoin traded under a dollar.
Which is, you know, doge coin is now 5 cents right now, as we speak, suppose we have similar adoption of, of doge coin as Bitcoin has seen its earlier days. Why can't it go above with all there were $5 or even $10. I believe there's no limit on how many dose cons could be mined. Although I think the inflation is like three or 4%.
Okay. Um, it, it has a brand, but it hasn't got the big brand. So, you know, it is there's the King and that is Bitcoin and it talks to everything else and there's the queen, and that is a theory. And then there's a couple of prints is out there. And then it's back down into the communist and, you know, um, Bitcoin is, is heading towards a trillion dollars worth of value, which is, you know, 14 or 15% of all the value of gold in the world, you know, Dos is not the next Bitcoin in the same way, as Bitcoin's not the next stowage is going to be a Bitcoin future.
And it's going to be in a theater in future and the place where will that all the really exciting stuff's going to happen is in D five, which is basically a set of enterprises that use the Ethereum tokens. As if they are, I mean, that is a, is enterprise moots, crypto, which is a massive, massive new development.
And that will, um, change everything even more than Bitcoin because Bitcoin is just a platform for what's coming next. What comes next is more important. And that is going to be, um, um, things like Eunice wall and sushi, Swope and cover and all those gut farm harvest, all those guys, uh, rare rubble. You know, this just an ocean of fabulous enterprises that growing out of defy.
And the theory and everything that goes along with, with, um, distributed authorities and most people are going, what's the hell is he talking about? And the answer is you've got to scale up on this stuff because you will not win. If you're not scalable, start now get skilled up and you will make a lot money.
Yeah. Well, Elon Musk has said that one of the, one of the concerns he has is that it's. Way too centralized in the numb doge coin is to centralize the number of people who hold it. So only a minority of people hold the majority of doge coins out there. He's asking these doge coin holders to sell their coins before he gets in.
What's he trying to do is he's trying to push the price down. Well, I mean, you know, he's got a point of view, but as he said, he's, he's a novice in the whole blockchain idea. He's come to a Lake or he may be a genius, but often people's geniuses are not the things they get asked about. Maybe he's not a crypto genius.
Maybe you can land his rockets backwards from space on floating barges and storms very well. But maybe he's not a genius in crypto. The whole point about crypto. Is that it's, it tends to wards, but decentralization is anarchy. So yes, everybody can tell everybody to what they think, but ultimately it's, the hive is the massive people get involved that define whether it's a success or not.
And don't just already survive many years, all sorts of, um, of things. And, and, you know, it will go forward. It's gone beyond the ability for it to ever be stopped. And it will be, you know, 20 years time, there will be those times, whether it be higher or lower. Who knows. There's so much that's going to be happening in this area.
So many emergent things that the way to go is to get up on it. And because it's a whole new investment and trading segment with huge upside. Yeah. So Clem, one of the questions I get from people is that, uh, like you said, most cryptos have seen a parabolic rise in recent times. What's the entry point right now.
Should we wait? Should I wait for a pullback? Should I get it now, before it gets even higher? Bitcoin Ethereum doge coin. They've all seen parabolic rises. Well, I noticed a bit weird what I just said earlier, but now it's not the time to get in. Now's the time to all your education. Well playing the market small, because if you don't have any skills in this market, you will come on stock.
It's the same with the FOMO crowd would say, Clem, I've been, I've been educating myself on the sidelines for 10 years. Yeah. Well, you know, it's too late. It's too late. That's the whole point about FOMO. People don't want it to be too late, but at the time they're fairly FOMO. It is too late. So what is the next thing?
And the next thing is define and use your money to play with it, to toy with it and learn. Okay. So you'll do great specific defy instruments now, Clem, what, what should I do? What should I be looking into? Well, I can only show you why I still hold. I mean, I loved wearable and then it went up 10 fold in like three weeks.
And now I thought, well, I can't hold this for 10 years. If it's going to go up 10 times only, but referable, once this is all over and the, and the top is blown off it and it's all comes back down to earth. That's a fabulous one. Use swap is going to be amazing band. Which is a chain link, is that is the King of the fire at the moment.
It's about 9 billion in market cap. Banned is the number two, and it's like 500 million market cap. A lot of these projects are basically into that companies and they're valued in the hundreds of millions and it's amazing what's out there. So you've got people that are grand, which is a, an alternative blockchain.
You've got the polygon guys, which work or Matic, um, We have four days ago, but they've changed their name and they brought five minutes and blockchain way of making a theory transactions really cheaper and various other stuff. Um, what other ones am like, do I really love at the moment? There's one called farm.
She's as crazy as, as a box of frogs. Um, but it's vastly undervalued. And people who use it to save money, um, are getting yields of 34 to 50%, which is unbelievable. You wouldn't believe that possible compound is, is another huge project backed by loads of VCs in, in California game. You can put your dollars there and get 14% yield.
I mean, really. And it's not Bernie Madoff. This is a real thing. And it's all on the blockchain and it's all up and down and kosher. And it's a fabulous thing, but 50% on your dollars. I mean, really that's incredible, right? It's actually incredible. But the defy zone is incredible and it's doing things like that because it takes out all the middlemen.
It takes out all the gatekeepers that slice and dice all your money, which means you end up with. Basically there's nothing. At the end of the day, they don't have office blocks. They don't have, um, CEO's an a hundred million because they delayed all those costs. They can have financial services that sort of punch.
So compound is a, is a five a month. Sushi swap another red hall thing. That's what the company now is with 300 a meeting a few weeks ago, but you know, things are toppy. But these are the names to remember when you're scaling up, it's just scale up. And then over the next 10 or 20 years, if you scale up, you will make yourself a fortune because this is the next big thing.
This is a enormous wave, the DFI wave. And it's going to absolutely end everything in financial services that currently exists. And that's why there's fortunes to be made in it. Right. Clem, we'll watch this space for sure. And I'm happy to get your update today. Thank you for coming on the show. That's my prejudice.
All right, we'll speak again soon. And thank you for watching Kitco news. I'm David Lynn. .