Free Show Notes

Guest Bio: Sydel Sierra

Sydel Sierra, co-founder of Digital Wealth Group, empowers investors, particularly women, through the Crypto Women Facebook group and her guidebook “All-Time High.” A prominent figure in cryptocurrency education, she concentrates on market cycles, volatility, and navigating the evolving financial landscape.

Useful resources from our conversation:

The Hidden Secrets of Money

CBDCs in China a Flop

China is Doubling Down on its Digital Currency

Some questions we recommend asking your crypto accountant are:
1. Project forward into 6 and 7 figure gains and what would my tax predicament be in this situation.
2. What are your views on lending, liquidity providing and DeFi and see if they have any understanding of this sector

Suggested crypto-savvy accountants in Australia:

LinkedIn

Instagram

Digital Wealth on Facebook

Digital Wealth Group

FarOut Affiliate Access to Free Webinar

Recent article in Australian Financial Review

All-Time High on Amazon

 

Summary

Sydel Sierra, a retiree at age thirty, passionately discusses the current and future state of money, focusing on cryptocurrencies. The conversation highlights the significance of cryptocurrencies amid geopolitical uncertainty and economic friction, stressing the need for a financial plan B. Sydel guides individuals in understanding market cycles and addressing the fear of volatility. The discussion covers Bitcoin halving events, the impact of ETFs, and the emergence of Central Bank Digital Currencies (CBDCs) with potential effects on financial privacy. She also shares insights on growth sectors like the metaverse and AI in the cryptocurrency space, offering a comprehensive exploration of digital currency opportunities.

… one of the things is to really inspire people to look for a Plan B. I’m very much about personal and financial freedom and looking for our sovereign options for our life and looking at something outside of the system, something outside of what we’ve been told is the only way we can transact, the only way we can hold money, and the only way we can invest, and looking at the other options for people and really giving people that freedom and that autonomy back to them. I’m so passionate about that. I teach people about how to get into cryptocurrency safely. I inspire women. I inspire men through taking personal responsibility to get into and create a Financial Plan B, or maybe just a whole new type of lifestyle for themselves and really just open their mind to the potential that this asset class can provide for people.”

~ Sydel Sierra

(NO FINANCIAL ADVICE, KIDS!)

 

Crypto Insights: Navigating Market Dynamics, ETFs, and Future Trends

In this podcast episode, I had the privilege of delving into the fascinating world of cryptocurrencies with the insightful Sydel Sierra.

A retiree at the age of thirty, Sydel brings a unique perspective and passion for empowering new investors, particularly women, through her Crypto Women Facebook group and her comprehensive beginner’s guidebook titled “All-Time High.

The conversation kicked off with Sydel emphasising the current state and future prospects of money, placing a spotlight on the revolutionary impact of cryptocurrencies. Amidst geopolitical uncertainty and economic friction, she passionately advocates for the adoption of digital currencies as a viable form of money, stressing the need for us all to consider a financial plan B.

Sydel’s commitment to education shines through as she guides individuals through the often-intimidating landscape of cryptocurrencies. She addresses the fear of volatility head-on, debunking myths and encouraging listeners, regardless of age or technical expertise, to explore this asset class. Her message is clear: anyone can enter the world of cryptocurrencies with a bit of guidance and understanding.

The discussion takes a deep dive into significant events within the cryptocurrency space, notably Bitcoin halving events. Sydel unravels the complexities surrounding these events, providing valuable insights into their impact on the market. The conversation also touches upon the role of Exchange-Traded Funds (ETFs) and their influence on the cryptocurrency market dynamics.

One of the pivotal topics explored is the emergence of Central Bank Digital Currencies (CBDCs). Sydel sheds light on the potential implications for financial privacy as governments move towards more direct control and transparency over individual assets. This thought-provoking discussion encourages listeners to contemplate the future of traditional banking systems in the face of advancing digital currencies.

As the conversation unfolds, Sydel shares her insights on growth sectors within the cryptocurrency space, specifically the metaverse and artificial intelligence (AI). These sectors, often viewed as the next frontier, present intriguing opportunities for investors looking beyond traditional assets.

In conclusion, the podcast provides a comprehensive exploration of the evolving landscape and opportunities within the world of digital currencies. Sydel Sierra’s wealth of knowledge and passion for empowering individuals to navigate this intricate space make this episode a must-listen for anyone seeking to understand the future of money.

Sydel’s ability to break down complex concepts into digestible information ensures that listeners, regardless of their familiarity with cryptocurrencies, can gain valuable insights. Whether you’re a seasoned investor or someone curious about the financial innovations shaping our future, this podcast episode offers a captivating journey into the heart of the crypto world.

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Transcription

Please note: While we do our best to edit the following information, some finer details of podcast conversations can be lost in transcriptions.

[00:00:16] AKP: In this FarOut Future of Money episode with the dynamic and highly knowledgeable Sydel Sierra, a retiree at 30, we explore the world of cryptocurrencies, emphasising their importance amidst geopolitical uncertainty and economic friction. Sydel empowers new investors through courses, a private group for women and a book she’s just released, all included in the show notes, guiding people on market cycles and addressing crypto volatility fears.

Remember, this is not financial advice.

[00:00:44] Sydel Sierra: When there is consent, there is no harm.

So it’s a very famous saying in law that when there is consent, there is no harm. So we often don’t know what we’re consenting to, but we do it because we have so much other stuff going on because we do the role of 10 people in one these days, I believe.

[00:01:01] AKP: Information provided in this episode is for informational purposes only. We do not offer financial, legal, or tax advice. The content represents an exchange of opinions between the podcast host and guests who are not licensed, financial, or registered investment advisors. Trading cryptocurrencies involves significant risk of loss and the host and speakers do not assure any specific outcomes.

[00:01:24] AKP: Welcome to The FarOut Show. Today, we have an awesome guest talking about the future of money, actually the present of money. Retired by age 30, Sadel empowers new investors, especially women, with cryptocurrencies for financial freedom. She’s passionate about action, self-worth. She leads the Crypto Women Facebook group.

Her book, All Time High, is a beginner’s guide addressing crypto fears and providing basic investment and money mindset training. Through Digital Wealth Group, she offers education for safe navigation in this realm. And there’ll be links in the show notes.

Sydel, welcome.

[00:02:03] Sydel Sierra: Oh, thank you. And lovely to be here.

[00:02:07] AKP: You and I met some time back, right in Perth, you’ve moved to another place and I’ve moved to another place since then, but we’ve known each other for a bit.

[00:02:16] Sydel Sierra: Yeah, absolutely. It goes back to, um, I think we first met in 2018, actually doing crypto of everything crypto around Perth.

So definitely we’ve crossed paths many times and, um, it feels like a century ago now.

[00:02:32] AKP: We had a very well attended convention or meeting at, I call BlockTalk. Yeah.

[00:02:39] Sydel Sierra: Yes, that’s right. Gosh. That was pretty much during that bear market phase where not many people were sort of talking about crypto and, yeah, it was, it was fantastic to pull such a big crowd together.

You know, sort of update everyone with what’s going on in the space and I guess provide that network as well.

[00:02:59] AKP: Yeah. It was fantastic. In fact, I think you’ll see on the website that I’ve got some photos from that, Afternoon. That day was an awesome, awesome day. So, Sydel, why is it so important that people learn about cryptocurrencies?

[00:03:14] Sydel Sierra: Um, well, I guess cryptocurrencies are like you said, it’s not the future of money. It is the present of money and, and it really is our new way that we are transacting between I guess more importantly is there’s so much geopolitical uncertainty in the world and, and so much economic, friction, you could say, and it’s certainly a time to be looking at a financial plan B and crypto is certainly one of those asset classes that.

Offer that, as a pretty much a complete replica of our banking system. So it’s an interesting asset class and, and just for the, what we can actually do with it as well is, is phenomenal for how it is providing other services for people and probably a safety net at this time.

[00:03:55] AKP: But it’s interesting that you call it a safety net when so many people are afraid of crypto.

What’s that all about?

[00:04:01] Sydel Sierra: Well, I think it’s mainly because of the volatility. People sort of think the volatility is actually the enemy when in fact the volatility is the greatest place to make gains in this particular space or, you know, basically position yourself during these different market cycles and create an investment portfolio maybe for the first time ever.

But the volatility is what really. Scares people away. And also I think just negative media in general and sort of what I call FUD, the fear, uncertainty and doubt keeps people away from this space, but I believe anyone of any age with no tech experience, no investing experience, no trading experience can get access into this asset class if they sort of scratch the surface a little bit deeper.

[00:04:43] AKP: So what is it that you do to show people how to move forward in this world?

[00:04:47] Sydel Sierra: So I provide education, mainly from, I guess, many things that I do, but one of the things is to really inspire people to look for a Plan B. I’m very much about personal and financial freedom and looking for our sovereign options for our life and looking at something outside of the system, something outside of what we’ve been told is the only way we can transact, the only way we can hold money and the only way we can invest and looking at the other options for people and really giving people that freedom and that autonomy back to them and I’m so passionate about that. I teach people about how to get into cryptocurrency safely. I inspire women. I inspire men through taking personal responsibility to get into and create a financial plan B or maybe just a whole new type of lifestyle for themselves and really just open their mind to the potential that this asset class can provide for people.

[00:05:40] AKP: Do you really think that this asset class is outside the system? I mean, I kind of felt that way in the beginning, but the longer that I’m in, the more that it feels like it’s kind of being manipulated. Well, it’s definitely being manipulated, but we’re creating, especially in the DeFi world, so called DeFi, a carbon copy of what’s going on in the banking world.

[00:05:59] Sydel Sierra: Yeah. I mean, I guess it’s just looking at alternatives and. I personally, as although, you know, when we look at CBDCs, which are central bank digital currencies, and we look at the spot Bitcoin ETFs and the Ethereum ETFs, which pretty much provide retail services. To clients and, taking away that, not that custodial as the non custodial aspects of crypto, people would ask, well, is this just as centralised as anything else?

But I always believe there will be that privacy, features that we have built in. And I think it’s a better option in my opinion. I think it’s a better option. It gives people more ability, more, um, freedom, more privacy than the current offers that we have right now. That’s my line of thinking towards it.

[00:06:42] AKP: Right, right. So I’d like to talk about EFTs and CBDCs. There are so many. what are those things called when you make up a word made out of letters? Come back brain. Uh. Uh, acronym, acronyms. Acronyms. Yeah. Thank you. There are so many acronyms and funky little things. Like you said, FUD and fear, uncertainty, and doubt huddling we’ll, we’ll get into that.

That’s all part of that lingo. but many evangelise Bitcoin and crypto, as having been born as a movement away from the control of the banking sector and towards human financial freedom. In a way that, you know, you can transact, transact outside the current, current cash, um, fiat system, but also as a store of value that couldn’t apparently be manipulated by the powers that control the economic world.

You mentioned those geopolitical forces. Do you think that’s true? I mean, I know we touched on that in the last question, but you know, what, what’s your position with all of that, what’s your feeling with all of that?

[00:07:35] Sydel Sierra: Well, it’s a great question. And I really do think that. Firstly, cycles will be cycles and then each cycle, there’s different narratives that dictate what happens and why things happen.

So we understand that we get periods in the market where there’s all time highs, then we get periods where we’re sitting in the crypto gruelling winter. And there’s capitulation events and we never know what is actually going to trigger that event in the market, but something always does. And I always say that there’s the major institutions, there’s the bigger powers at bay.

And I always tell my clients that it’s micro moves for macro plays. And we’re always going to see this sort of push pull because there’s a greater agenda, perhaps they want to accumulate cheaper Bitcoin. Or I even think about the approval of the Bitcoin spot ETFs recently. And. I was saying to people, we can expect a lot of volatility to come up because do you think they’re going to want to purchase additional Bitcoin to add to their supply at an over inflated price?

Like, absolutely not. You know, they’re going to be wanting to. Do these micro moves for their bigger picture plays. And so I think the volatility, the institutional manipulation, the bigger marketing from institutional, say, manipulation will always be there. It’s just really making sure you understand that that is.

It’s built into the nature of this game and to understand where you are in the cycle relative to that narrative. 

[00:09:01] AKP: Okay. So, basically, what you’re sharing with your students, with your clients is the understanding of market cycles and how to get, get in and get out and why without being too sort of fussed on the, well, without getting too stuck on the idealistic sort of situation.

Is that right?

[00:09:19] Sydel Sierra: Most definitely, because look, I say, and I’ve been saying so clearly to people lately that knowing where you are in a market cycle is more important than the coins that you intend to buy. Because if you’re buying those coins at all time highs, when Bitcoin’s sitting well, past its previous all time high, for example, in 2021, that was 67,000 approximate US dollars.

So when we get past that, we would have broken past the previous all time high and we start to get into that sort of heat of the bull market. And there’s a lot of emotions and euphoria and I say that is the time to be trading carefully and yet people dive in because they’re catching onto the euphoria like a plague across the world.

And while it’s exciting for the market, you don’t know who you’re in the ring with because who’s about to take a lot of profit. And I say, you don’t want to be people’s exit liquidity. You don’t wanna be providing capital that someone’s just gonna pull from the market.

But then if you understand where you are in the market cycle, perhaps you’re just about to enter into the bull market, or perhaps you’re in the middle of a bear market and you can accumulate cryptos at better prices, et cetera. So, this is, it’s really just having that crucial understanding and I think it’s so important and it stops new investors from getting burnt or locking in losses for years to come.

[00:10:30] AKP: Right. So can you just explain what you mean by liquidity?

[00:10:34] Sydel Sierra: Yeah, if you think about the amount of buying and selling that’s happening for any one crypto. when the market basically, when a crypto becomes very popular, lots of people basically said buying and selling and getting in.

If there’s lots of buying, buying, buying, the price of that crypto can be going up, but you might be sitting, I say, you, you never know who you’re in the ring with. So potentially someone bought that coin very cheap. They’ve watched it grow all the way up to a very nice high price. And then they’re about to basically take a whole lot of that liquidity out because they’re going to sell a large portion.

And you’re going to have all of that money sitting in that coin. That’s pretty much going to be taken in for someone’s profit. So what happens is people chase what I call chase pumps. They see a price going up and they’re like, Oh, I want to jump on that. It’s going to keep going up. They jump in and then all of a sudden the price drops by 20 or 30 percent because someone’s taken that liquidity out by selling a large part of their position.

So that’s why I say it’s just a bit of a, just to tread carefully during the heat of a bull market, which I do believe we are only a few months away from as well. 

[00:11:36] AKP: Yes, I agree. So what would be the reason that you think we’re only a few months away from it apart from the fact that, you know, everything moves in cycles, which I wish I’d known.

[00:11:45] Sydel Sierra: It’s very much assumed knowledge. I think because I’m so in the crypto space day in and day out, I think that the whole world knows about crypto cycles, but It’s really quite, it’s knowledge that’s quite zoned in to people that are watching this space.

So that’s why I sort of take that and translate that out to students and do, you know, lots of talks and podcasts like this, etc. Where I sort of can educate on that platform. But your question was, why do I think the bull market is getting closer? And one of those main reasons is, of course, the Bitcoin halving event.

Now, the halving event is happening in April and it happens every four years. It’s all related to Bitcoin, and Bitcoin is the reserve cryptocurrency, just like the US dollar is the reserve, you know, currency, fiat currency. So we pretty much can just watch Bitcoin to understand what’s going to happen on a bigger scale.

So what happens in April is the halving event is happening, and this is coded into the way Bitcoin works, happens every four years. And what’s going to happen is the amount coming into the circulating supply. So the newly created Bitcoin is going to get cut in half. Now that doesn’t mean your Bitcoin in your wallet gets cut in half.

It just means there’s less available to buy. And I always say to people, what do you think if I said to you in two or three months, the amount of gold coming into the world, the circulating supply of gold will be cut in half. Do you think the price of gold could potentially go up in value?

And so they say that the halving event is a triggering event that causes the next bull market because scarcity increases. There’s buy-pressure. There’s sort of this, this sort of. increased demand meeting the scarcity and that creates the beginning of the bull market.

And that’s sort of all set to happen this year, which is why people are very much predicting this next full market rally to be kicking off shortly, like towards the later half of this year.

[00:13:31] AKP: Thank you for that explanation. I think it’s important to mention that all markets move in cycles.

And I used to be really, really active in the real estate market and I didn’t know that. So I was just buying and apparently making a whole heap of money and then, you know, selling when I felt like it. And I wish that I had known that you can actually strategically buy low in any market and sell high, which is obviously where there’s a clear profit, but there are other ways of making a profit through trading as well, which I think is beyond the realms of this conversation.

But what about the recent launch of ETFs? Can you speak a little bit more about that, please?

[00:14:11] Sydel Sierra: Yeah, absolutely. Because that was fascinating. And if you’re not sure what an ETF is, it’s an exchange traded fund. So basically think of it like an easy way, like a one-click type purchase way to get access to Bitcoin, but you don’t hold it.

Okay, so this is non-custodial ownership and this is not the small players that have created these services. This is the biggest players in traditional finance that have entered this space. So I’m calling them the giants of the finance world, the BlackRocks, the Fidelity. These are the guys that have entered into here, the Grayscales that are providing these services. 

So during 2023, they basically put in applications to provide these easier services because they realise there are millions of investors that don’t want to go through private custody, which is actually what crypto is about. So they’re like, how can we get a product to market where people can get exposure to Bitcoin without them having private custody?

So the race began and in 2023, they lodged all their applications and then January of this year, we saw them actually be approved, which was made news and it was a little bit of a hype event and, and what that happened was there was 11 approved all at once and we could see the sort of volume coming in and out.

And that created what we call info and outflow. I won’t go into too much detail, but basically we had all of these retail investors that could now get exposure to Bitcoin without actually having to go through the sort of process of self custody. And so now we had all of these new retail investors. So we’ve pretty much opened a whole avenue of new money coming into the crypto sphere.

And that’s why people were so excited about the ETFs because never before have we had that. And you can sort of even draw comparisons to the gold ETF when that was approved back in 2000 and I think it was 2006 or 2004 from memory, so about 20 something years ago.

[00:16:18] AKP: In a similar way though, there are lots of bonds which have been issued, for gold and I remember hearing various people, including Jim Rickards and Mike Maloney saying, if everyone tried to cash in their bonds and go and say, okay, I want my gold now, then there would not be enough gold to service, those amounts of demands. Is it a similar thing happening in Bitcoin where, um, ETFs are being issued, even though there possibly is not enough to go around?

[00:16:44] Sydel Sierra: Well, the interesting thing is that the actual ETFs have to have a one-to-one reserve, so it’s not fractional. So at the moment we can’t speak for the future.

Every Bitcoin, let’s just say someone comes to buy one Bitcoin from Grayscale, they have to have that Bitcoin in storage, you could say. So, there isn’t that issue of, am I buying, you know, you know, 10 percent of the actual value of a Bitcoin they’re holding in store, whereas the other 90 percent of that value coming from question mark type thing or comparison to our actual banking system where they can have up to 0 percent fractional reserve.

So, you know, this it’s a different game. So at the moment, as we sit, we don’t have that, that issue. But this is what’s really interesting because people are looking at the inflow. Looking at the amount of Bitcoin that is actually getting chomped up by retail investors. And then the big question mark is at what rate does this slow down. 

Actually, there’s an interesting number. They said that there were 500 ETFs launched in 2023. And the total trading volume for all of them was about 500 million. And this spot Bitcoin ETFs on the first day of trading, or the first three days of trading did, I don’t have the numbers exactly in front of me, but it was, it was, it completely outperformed what all of the 500 new non crypto related ETFs did in 2023 in, in three days.

It’s now hit 20 plus billion dollars in trading volume for the first 14 something days, uh, 11 to 14 days just off the top of my head. And, it’s made ETF history. Of all ETFs ever launched in the financial space. And they’re saying this is, it’s so hard to buy volume.

It’s so hard to get volume and draw audiences into new ETFs. But the audience was there, the volumes there, and then that gives what they call utility and not utility long term value. It gives long term substance, if that makes sense to what they’re actually doing. It’s actually fascinating and the statistics around the ETFs and the inflows.

But the thing I was coming back to before was there’s a question mark of when will this run out? And they’re looking at the current inflows and saying, well, we’re even expecting this to run out 30, 60 days after the halving event based on the current inflow rate. So then the question is, where will the additional Bitcoin come from?

And what could they potentially do to the market to bring those prices down to accumulate more in order to provide the service that they have set out to provide? So it kind of opens a few questions there, doesn’t it? It does.

[00:19:13] AKP: So basically, hold on for dear life, which has been the, one of the,

[00:19:18] Sydel Sierra: yeah. Yeah.

[00:19:22] AKP: The great, the great HODL. So just speaking of phrases, cause I think some of our listeners, could be a little bit stumped and possibly veer away from the conversation. Can you briefly just, describe the difference between non custodial and custodial?

[00:19:34] Sydel Sierra: Yeah, absolutely. So custodial means someone owned, like you basically have it.

Non custodial means it’s, it’s, uh, someone else is managing it for you. So let’s take BlackRock. Let’s take these institutions. They’re basically holding it for you. So that’s non custodial. I don’t have custody of that. But if I have my Bitcoin in my name, in my wallet, I have that. It’s called custodial. So just to define that there. 

[00:20:02] AKP: Yeah. I think it’s good just to sort of, like you say, you and I’ve been in it for a bit and then we just gloss over these terms and people are like, what? Um, not that people are stupid, not at all, but I think that it’s a sort of lexicon, which is not necessarily generally fair.

Yeah. Thank you. So non custodial, another example of that would be the money that you have in the bank, right? 

[00:20:21] Sydel Sierra: Well, yes. I mean, I say that the numbers you see in your bank account is not the money in your account. It’s the money the bank owes you. So in many regards, it is non custodial. That’s definitely true.

[00:20:34] AKP: Yeah. Because you, you don’t have custody of it in reality, although probably many people think they do. Um, and what about fractional reserve? Fractional reserve. What does that mean?

[00:20:45] Sydel Sierra: Okay, so fractional reserve. So basically if you go to get a loan from the bank, they should have that money in reserve.

But oftentimes, the thing that can generate the loan these days is actually what generates the money. So you go take a 300, 000 loan and the bank should have that money to give to you in reserve. There’s actually a whole thing behind it where banks, that number got diminished going from a high number to 5 percent to 1 percent to, to even up to zero, I say up to 0%, meaning the only thing that generates that money is actually your signature, which is really interesting.

And you can look more into that. In fact, uh, I think Mike Maloney gold silver, he does some very good things like visual graphics on fractional reserve. He calls it the biggest IOU scam in history. And I think it’s episode five. Mike Maloney, and he talks about that freely on YouTube. He’s got some great graphics there, but that’s actually like an interesting resource if you want to know how, the big holes in our banking system.

[00:21:44] AKP: Yeah. I think he call  it The Hidden Secrets of Money

[00:21:44] Sydel Sierra: That’s the one The Hidden Secrets of Money. And then it’s an episode it’s called the biggest IOU, which is all talking about that fractional reserve. And, and then how then people go take the loan and then they go get another loan, like a car loan or something.

And then there’s no reserve for that either. And it’s like, so you wonder how the whole system is actually sitting up. So it’s, it’s quite scary.

[00:22:09] AKP: Yeah. That’s why they call it a house of cards. Yeah, it

[00:22:12] Sydel Sierra: is. Yep. Most definitely.

[00:22:14] AKP: Thank you. So back, back to Bitcoin, you spoke about, Bitcoin being the reserve, um, so to speak for the, for the crypto world.

What about the other coins? They’re known as alt coins, alternative coins, shit coins in a more of a colloquial sense. Are there other coins which you think are valid?

[00:22:31] Sydel Sierra: Yeah, most definitely. Because I mean, when we, when we look at Bitcoin, like it takes a lot to move the price of Bitcoin, I call Bitcoin a very heavy crypto.

There’s a lot of capital in it. There’s a lot of investments into it. It’s been through many cycles. Then you’ve got these other cryptos in, in other sectors. So, uh, we call them growth sectors or where we look for where innovation is happening. And if you think about the size of this offering, that is cryptocurrency, you know, innovation doesn’t happen all on day one.

I, and I say, you know, the Apples and the Amazons of the world haven’t yet come out in crypto, meaning there’s, we’ve got a long path of innovation in front of us. When we say what other cryptos do we like, or what other alt coins, which is pretty much, yeah, like you said, any other crypto other than Bitcoin, I always like to look for.

Things like in decentralised finance or DeFi. I like to look for new blockchain technology. I like to look for things in the metaverse, things in AI, and whilst we may not agree with AI and the metaverse and where that’s sort of taking, let’s say humanity on a bigger level, investors like to look at it as a future long term investment opportunity.

So I sort of look at where innovation, where the growth is happening in the world and how cryptocurrency applies itself to that growth and for investors that can be interesting to look at.

I mean, I believe that our dollar is our vote, in today’s economy. And I do, personally, I do value three dimensions, you know, the actual reality that we live in. I’m putting headsets on and going into another. Well, I mean, I’ve travelled and travelled to Japan a lot and things like that.

I’ve gone in and seen people gaming in there and in there for hours and never, and you can see there that reality means so much more to them than say the reality outside. And that’s just, just a couple of observations I’ve seen in Japan. And when I’ve been through Hong Kong, things like that, where you see a lot more of the tech side.

Coming out, but it’s just interesting that there’s these offerings, which sort of remove our humanity, disconnect us from the actual what’s happening around us and put us into this dreamlike world where, you know, this reality’s rules don’t make sense. And so I kind of, I see the innovation, I see the growth and it is a huge, enormous growth sector.

In fact, they say the metaverse is going to go through, it’s going to be the highlight of the next bull market because of all the gaming and the Apple headsets and all this sort of stuff coming out, but it’s just interesting. I just, I personally don’t agree, but like to necessarily look at that investment side, because I believe we vote with our dollars, but as a growth sector as a, as a study project, I think it’s really interesting.

[00:25:03] AKP: Yeah, I prefer the real world as even my kids growing up, they’re probably not as savvy as many kids their age, but they were, they were strongly encouraged to go out and climb trees. And I still maintain rather than looking for where the next power point is so that they can recharge, you know. I love the fact that we would hit a park and they would start climbing trees.

In fact, we came to Italy and they were climbing a tree and they got into trouble. They were told they weren’t allowed to climb a tree.

[00:25:35] Sydel Sierra: Amazing. What world do we live in? It, you know, it’s interesting and I often think about that as the real value of the future.

And I believe that the real value will be in our individual, individuality and our actual authenticity. But if we lose that through all this media, like your children, they’re probably, their value will be in their authenticity as they become adults, because they will have a unique way of thinking.

That’s how I kind of see it. Like all where, where the masses are going and we do contrary to masses that eventually becomes like a sought after skill and that’s kind of sadly where I sort of see the future as well.

[00:26:13] AKP: Yeah, I think that’s such an interesting point of view. It gives me some sense of relief as a parent of teenagers, for sure.

I mean, there are always difficult waters to navigate. I don’t know about your teen years, but you know, mine were a little bit murky and I can only imagine the thousandfold, uh, concentration of stress and pressure from 24 seven social media in input and ideas of how they’ve got to look, think, be all these so-called role models, which are effectively are crushing to the soul.

Unless you’ve got the strength, the strength to really remember yourself.

[00:26:52] Sydel Sierra: And what will be the, what will be that currency? You know, it’ll be in their individual thinking and their ability to add value in a unique way because they have their individuality intact. So it’s very interesting.

[00:27:03] AKP: Yeah. Well, thank you. That’s very reassuring, especially moving to another country. You were like, hello, who am I? What should I do? Where do I belong? Okay. Let’s do some meditating. Like, Oh my God, my Hippie parents!

[00:27:18] Sydel Sierra: Yes.

[00:27:21] AKP: You mentioned before in passing CBDCs, I don’t want to get too bogged down in it because it can be a heavy subject, but can you talk a little bit about that?

[00:27:30] Sydel Sierra: Yeah, most definitely. So the CBDCs, Central Bank Digital Currencies, up until now, the banks sort of… There’s this sort of buffer between government, you could say, and your money, there’s a bank in the middle and what CBDCs aim to do is, is basically remove the bank level between control of your wealth and so that the government have direct transparency access and, and power over your assets, your sort of pretty much your money in your bank account.

So it’s an interesting concept where they’re sort of saying it’ll be easier to transact. There’ll be this sort of, uh, ability to move freely. And we have sort of these one-world currency type ideas, but really it’s just increased surveillance. So central bank digital currency means digital everything.

And what’s interesting is that people reject this idea so much, but I say. Well, when was the last time you used cash, you know what I mean, and how much of your transactions, how much are we already slowly starting the erosion of our financial privacy already, because, people use Apple Pay, they use PayWave, they use plastic cards, and we are already, there is already a whole lot of centralisation around our finance, and there’s a whole lot of transparency into what we do and how we spend our money anyway, the next step is removing transcription. That sort of intermediate tree, which is the bank and having that sort of direct government access into your bank.

So you can study and read into it a little bit more, but it’s an interesting one and it’s sort of also being pushed back quite a little bit. I’ve noticed in, you know, countries like China. It was somewhat of a flop when they launched and they’ve pushed very hard to try and get the CBDC in China to be adopted by the people.

And it’s quite interesting. And maybe that is something we don’t want as an event. Again, it comes down to what we choose to use. We think we have to use this stuff, but really all it is, is an offer. and, and we can consent or not consent to these things by simply making those choices, but it does need to be on a big level.

[00:29:33] AKP: Please consider supporting the show on Patreon, where you get early access to exclusive full length interviews. Go to patreon.com/FarOutShow. Link in the show notes.

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