Crypto Campfire by SIX 6 Episode Summary

a summary of crypto campfire by SIX 6 episodes

Now, “Crypto Campfire By SIX” has reached more than 6 episodes, so we have shortened some episodes for everyone to read. Anyone who wants to read the full version and other chapters besides what we have abbreviated can check out the rest at SIX Network Discord in the channel called💡⎪recap-education.

1. Crypto Campfire by SIX Ep.2 SIX Protocol with Moderator team from SIX Network 


What is the SIX Protocol?


SIX Protocol is a blockchain infrastructure layer built to help businesses migrate their assets into the Blockchain by issuing their tokens, including cryptocurrency and NFT, to the destination chain. The SIX Protocol teams also provide other consulting services such as supply figures, Initial Asset Offering Service (IAO), decentralized KYC, whitelist management, and many more.


Blockchain Technology 


Blockchain Technology can increase business opportunities. You can read more examples here.


Why choose SIX Protocol when there are other chains to choose from?


The SIX Protocol is a chain that businesses will choose because we cover a wide range of services, from IAO Services or Initial Asset Offerings, to helping businesses with tokenizing and supporting the rarity for NFT collections or even helping with Tokenomic plans. 

2. Crypto Campfire by SIX Ep.3 Money Management 💸 with Bear Face Trader 


Financial Pyramid or Risk Pyramid 🧐


The financial Pyramid helps us manage our money as to what we should invest in first. Starting to plan from the bottom up, divided into 3 parts: 1. Basic Needs and Risk management 2. Accumulation 3. Investment


What is the Future Trading?


Future is a market for trading futures contracts based on the price of cryptocurrencies in the market. There are two types: long trades, contracts that increase in value when the underlying coin price increases, and short trades, contracts that increase in value when the underlying coin price decreases.


What is Leverage?


It is to loan money to buy assets for an investment that can bring you more returns but can also make you lose more than before.


What is Stop Loss?


It is the point where we are making profits but do not want our profits to decrease, so we will set the Stop Loss point at that price that we want to reduce the risk of losing.

3. Crypto Campfire by SIX Ep.4 The Web 3.0 community manager with Ms.Mild from MetaWarden


How is Web 3.0 Community Manager different from regular Community Manager?


The difference is that we need to know the tech stuff in the world of Web 3.0 and keep up with trends. Being a community manager is not just customer support; it’s about providing activities, telling the project story so that everyone understands, and being like a friend who can talk about anything, not just about the project or trading.


What should a good community look like?


A good community is that we help each other build a community. Treat everyone with respect, listen to each other’s opinions, give advice, and educate each other.


Difficulty in building a community


The difficulty in creating a community is that we can’t meet everyone’s wishes in the community because everything has to go through discussions with the team about whether we should do it or not, which causes complaints or negative energy. 

4. Crypto Campfire by SIX Ep.5 Global recession and cryptocurrency 🤔 with I Learn A Lot


What is a Recession?


A recession is a business cycle contraction when a general decline in economic activity occurs. 


What is inflation?


Inflation is an increase in the prices of goods and services, but the value of the money is the same.


What is Bitcoin Halving?


The decrease in the number of Bitcoins mined every 4 years is known as Bitcoin Halving.


5 Ways to Cope with a market Entering a Recession


#1 Optimize your profile accordingly by creating a balanced asset distribution table.

#2 Try focusing on the coins you have in-depth research on, and cut out any coins you have invested in by mistake.

#3 Learning from your mistakes, investing with sufficient knowledge, reading great content, and having a good understanding of financial basics are essential.

#4 Reduce FUD news, instead, find many other news articles that contain credible and authentic information.

#5 Everything has a cycle, so don’t rush, stay patient, and wait your turn again. While waiting, observe ongoing trends and ensure you have a DCA portfolio that can deduct 10-20% of your salary by disregarding whether the price of a coin rises or falls. 


5. Crypto Campfire by SIX EP. 6 Metaverse with Crypto Mom


What is Metaverse?


Metaverse is a virtual world that uses the combination of virtual reality and mixed with the real world.


Metaverse Project Recommendation  


There are many projects in the world of Metaverse, but the ones we hear about the most are Otherside, The Sandbox, and Decentraland.


#1 Otherside is a platform developed by Yuga Labs, creators of Bored Ape Yacht Club. The Otherside project is a GameFi based on Metaverse, where thousands of players can also play together in real-time.


#2 The Sandbox’s a virtual world platform where players can create and own various assets within the virtual world.


#3 Decentraland is another virtual world that allows users to buy real estate within the game and develop real estate into a virtual world as a business. Users can also monetize those buildings by collecting ad rentals or real estate rentals.

6. Crypto Campfire by SIX Ep.7 Crypto world and business expansion💡 with Lady Crypto 


How is the cryptocurrency world connected to business?


There is a direct link to how many industries use blockchain technology for transparency and data tracking.


In the future, if most business turns to use Blockchain, will crypto be the general payment method? Will it be possible?


Stablecoin, the existence of this coin is to stabilize its price, which makes it easier to transfer the money without worrying about the cost going up or down. 


Besides trends, why do you think businesses are becoming more interested in Cryptocurrency and Blockchain?


Like during COVID19, we have to have social distancing, so everything happens online, including transferring the money in the bank application, which we can see only the numbers on the screen. But we can’t know what the bank has been doing with our money in real-time, which makes people more interested in Blockchain because they are reliable in transactions without intermediaries like banks.

“Crypto Campfire by SIX” live sessions will be on the SIX Network Discord. If you’re interested to learn more or join one of the sessions, please kindly click on this link >> https://discord.gg/5gJQCXzcWf

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