How to Build True Wealth with Crypto?

Hey everybody, this is James Pelton. I am here with Josh Rhodes today from the Crypto Y'all community. You might notice this is not my office. Honestly, it's just, I'm in Lincoln, Nebraska. We have maybe like 10 really nice days a year where it's not too cold or too hot. Today is one of those days. And I came outside just for a little walk and I was like, I cannot go back into my office. So I grabbed my laptop, I'm out on my patio and just want to have a talk here with Josh. Want to learn a little bit from him. Want to learn how he approaches the crypto markets and then want to hear a little bit about his community. So that's what's on the agenda today. What I need from you guys in the audience, as always, please hit the like button. If you have any questions for either me or Josh or anything you disagree with or anything you want to discuss or just funny things going on in your life, whatever you're feeling like, go ahead and comment. And very nice to welcome Michael Burke to my community. Thank you for joining. For those of you who are in my community, before we get going too, we have some big changes to the community we're going to be doing here soon. So stay tuned, but big things are in the works for my community. So let's introduce our guest today. This is Josh Rhodes. Josh, can you give us a quick introduction of yourself? Yeah. Let me jump into. Yeah, thanks James. I'm a guy, I'm a dad, I'm a husband, I'm a small business owner, I'm a real estate investor who fell in love with crypto about six years ago. And I was looking around like, man, where are the other normal people that I can talk to about crypto? Like when I say normal, I mean, we've got core values, we've got a family we're trying to win for. We wake up every day and we go into the grind. We're motivated to, for some greater purpose than our own selfish greed. And I was just trying to find a place to invest with people I trusted. And fast forward after being scammed and having a lot of bumps and bruises, I was, as an entrepreneur, I was like, you know what? I love teaching, I love coaching, I love consulting. It's kind of what I did for a living anyway. So I said, what the heck? I'm going to start this brand called Crypto Y'all. I'm from Alabama. We say y'all down here. We love Southern hospitality and good food. And what if I could merge those things with this great financial technology called blockchain? And so it sounded fun. And I know you're an entrepreneur, so when you can find things that you can have fun with and make money and help people, that's really what capitalism's all about. So Crypto Y'all, that's what we do. Awesome, awesome. Yeah, and I'll post a link if you want to check out Crypto Y'all and just see if it's a community that you want to be a part of. Can you maybe tell us a little bit about what people might expect? I mean, do you go through passive income plays and different crypto plays? Or tell us a little bit about what you do in your group. Yeah, so like many of us, I read Rich Dad Poor Dad 100 years ago and it changed my life. And I thought, wow, I was not financially literate. And you know, crypto is the sixth asset class. It's the newer asset class, but it has basically the same characteristics as real estate and life insurance and stocks and everything else. But the three wealth strategies that we really focus on are cashflow, appreciation, and leverage. And really honing in on the crypto skills that come along with that, we call the framework the crypto flywheel method. For those of you who like Jim Collins and his book, Good to Great, he talks about how great companies or great industry had the flywheel, which was the old industrial mechanism, the wheel in the factories that created the productivity. But they were hard to get started. But once you got them flying, they create incredible prosperity. So when you start pushing your crypto flywheel, most people enter into crypto, kind of like a slot machine. I mean, I talk to 10 people a week who say, yeah, I bought some Shiba Inu or I bought some Dogecoin, but Elon Musk went on Saturday Night Live and ruined it for all of us. They just kind of were like pulling the slot machine lever and hoping they win in crypto, which a lot of people have. They've gotten lucky, but I just wanted to treat it more like a business. And so what me and my members do is we focus on the cashflow part of crypto first, creating those little income streams inside our portfolio. And we do things like yield farming, war bots, NFT mining, trading bots, the list goes on. But whatever we can do to get that yield on top of yield and really maximize the rule of 72. Once we get that part of the flywheel turning, that's when we go and we buy things that we believe in for the long haul. There's a lot of XRP army folks and chain link marines and Bitcoin maximalists. Whatever it is that you have almost a religious conviction about, creating that house money first that you can buy stuff with that you can buy and that will be accretive in value. That's really kind of like our prime focus is getting that flywheel moving first for our members. And then ultimately, just like home equity or infinite banking, if you've got enough cash position or enough cash equivalent position, you can use that as leverage to go buy more cashflow. So we have fun graduate advanced levels that we have fun with as well. And we also use our crypto to get outside of crypto and be a catalyst for other industries and investments like real estate, e-commerce funds, the list goes on. So that's just kind of like a high level of what we do. The name of my mastermind is called Get Paid Daily. So it's all about having a mindset of how do I get my money today? How do I yield today? And what do I do when I get that money? Do I go pay for gasoline with it? Or do I buy some XRP or chain link or something that I love? So that's kind of what we do. Awesome, no, I love that. We have Tim who says, hello, JP fam, I'm from Tennessee. We don't speak the King's English either, carry on. Yeah, my brother lives in East Tennessee. And so yeah, I'm getting familiar with the y'alls and things like that. Josh, can you kind of talk a little bit about what in particular? So if my audience was looking for some nuggets of projects, because a lot of people are just, hey, what projects should I get into? What would be some of your, I don't like when people say what's your favorite or anything like that. But what are a couple that my audience could take a look at? Yeah, one that I'm gravitating towards, let's just use that kind of language. I find myself connecting my wallet and managing my investment here very actively is Folks Finance. It's on the Algorand network. And a lot of people are really enthusiastic about Algo. I'm not necessarily one of those people. I do think it's an excellent layer one. And I think that there's a lot of upside and it's very fast and inexpensive to use. But Folks Finance has been a really fun flywheel example because you can do things like, you can obviously deposit, like if you just wanted to be a really simple crypto investor, you can bring your Algo or your USDC or USDT and you can deposit there in there. If you go in there dap, you can see the various functionalities, but you can deposit there and just earn a variable interest rate on your staked liquidity, the boring stuff, right? The six to the 20% stuff. But then you can also use that as collateral. So if you have a deposit large enough, you could theoretically, let's say you've got Algo and you've held it for a long time, maybe you've got 20 grand of it and you don't want to sell it for, to create a taxable event, you could go and you could use it as collateral and loan money to yourself and restake it and just create that yield loop over and over again. And then there's some other advanced strategies that we're having fun with, where we're earning when the market's going up and we're earning when the market's going down, just arbitraging between Algo and USDC. And then they have their lending pools, they partner with PACT, P-A-C-T, with their yield farms. And so we have a large emphasis on yield farming and they have a lot of great examples there for everything from APYs to healthy total value locked farms. So that's one place where I've found dependability and great team, great community, good developers, KYC, all the stuff that you just want to interact with. You don't feel, you feel comfortable connecting your hot wallet and you feel comfortable with the transactions and the user interface is great. Okay, no, Greg, that's some good alpha. I have not talked about that one. I mean, that's going back to traditional DeFi. Yeah. But really on my channel, I've been away from that for a while. So just a reminder to people that that is what traditional DeFi looks like, is you have the yield farming and loans, and then you can do some of these circular loans where you maybe deposit some, use that as collateral to borrow more, to put out another loan. You can squeeze out a few more APY percentage points, but maybe sometime, maybe you're inspiring me to get back into that world, back to my roots a little bit. Yeah, sometimes you just have to catch ground balls and pop flies, man, and hit singles and play a small ball. It's so true. We've been looking for, you can get caught in looking for so many home run opportunities where you start seeing, oh, the 9% APY, meh. But that, in honesty, would get you closer to your financial goals than 300% then lose it all, and then 200% then lose it all, which is what we've seen with a lot of crypto here recently. Awesome. Well, hey, Josh, can you talk a little bit about, I know my audience knows my faith, very important to me, Josh. I know your faith's very important to you. Do you wanna just talk a little bit about your faith, and is that a part of the group, or how do you work that together? How does that play into your finances? Yeah. Just talk a little bit about that. No, thank you for asking. So as a business owner, it doesn't overtly or directly play into the way crypto, y'all, is presented, or my mastermind is. However, obviously, it influences the way I operate and my business ethics, of course. I grew up in Northwest Alabama, just in the middle of nowhere, 5,000 people in my town, a few red lights, you know the story. And I grew up going to church, and I'm a Christ follower, and I had two parents who loved me and raised me in a home. And I happened to be in the family, I had a ton of cousins who experienced poverty and abuse, and I wasn't one of those. And it was just, I was blessed beyond measure to just grow up in a lower middle class family where my dad was a wholesale lumber salesman and a former United States Marine in Vietnam. And I grew up as a patriot. I grew up a believer. But no one had ever gone to college. No one had ever done anything like that. And so I played baseball, which was the reason why I had the baseball reference. I played baseball. I was the ignorant guy that would put on the catcher's equipment and get behind the plate and get beat up. Well, that found me in a Division I baseball scholarship, again, galaxies away and 100 years ago. But that whole experience was buttressed by my faith experience. And I've matured obviously in that regard over the years. And so the way that manifests now is why even have a crypto flywheel? Why do we get on YouTube lives? Why do we build followings and audiences? Why do I have a mastermind with 240 random people from all over the world talking about crypto? Well, it's because my purpose is driven by my faith and my faith is compelling me to be generous and to be benevolent as much as I possibly can. Because if someone had not done that for me, then I would be nowhere and I would be lost. And so it's just like, that's that purpose that's bigger than me and it informs everything I do. I'm also an Enneagram three by personality. So I wanna win, I want the trophies, I'm wired that way. And I'm looking for excellence at every turn. And crypto was that mountain, man, where I just was like, gosh, I need to conquer this thing. This is like, I need to plant my flag here. But I think I was driven by a more noble purpose than something I came up with on my own. So that's where it all kind of is tied together. Okay, sounds like we're very similar. I'm also a three, which is just, keeps me hustling, keeps me always pushing forward. And it can be difficult as a achiever, trying to balance that with your Christianity and letting not pride seep in. Yeah. And making sure that we understand that we are weak and it's God who makes things happen for us. And when I am weak, he is strong. Those are all things that I've had to learn over the years and I'm still learning. Yeah. Very cool, well, it's awesome to meet you. Awesome to introduce you to my community. So if people want to get more from you, so if they like what they're hearing and they say, hey, we want, give us some calls to action. I'm a big marketer guy, so calls to action. And I always like to start with the cheap and free options and then work your way up to your highest paying. But what can people do to get in touch? So the cheap and free option is to go to cryptoyall.com and just join my email newsletter. That's where you're just gonna get a guy with Alabama public school education talking about crypto and emailing you dialogue about it every other day. And it's just down to earth stuff. And also I'll invite you to some of the fun things that we do as a broader community. If you're someone who is at the starting line or maybe you're 10 meters into the a hundred meter dash and you're like, I don't have what it takes to go to the next level with crypto. I'm investing alone, which is a dangerous place to be. And you want, A, a community, but also a private mentorship, a mastermind. A lot of my members are key professionals, executives, small business owners, busy people who have capital that they want to invest, but they don't have the crypto skills to do it. If you're one of those people who believe in coaching and training to go to the next level and you just want to work with someone who's a little more, I guess, human than a lot of these smarmy internet characters that you can get Instagram DM'd by, then go to cryptoyall.co, not .com, but .co slash James. And I've got a video there to watch. You'll need to opt in and subscribe. And then the video that you watch is just really kind of an overview of my program. And if you like what you see, schedule a call with me. I do a one-on-one interview with every new member. It's invitation only in that regard. It is an application. So it's a well-vetted community, meaning there's not just a bunch of rainbow chasers and silver bullet seekers. And it's people who are wanting to build a flywheel. They want to increase their net worth methodically and they want to make sure they do it the right way. And they're not afraid of failure, but they want someone to walk alongside of them and help them when they need to jump on a Zoom call and talk strategy. That's what I do, so. Okay, very cool. Well, hey, I want to encourage everyone in my audience to at least go sign up for the newsletter. Okay, again, I know I can't ask you to spend money, but that's a free option. You get free content. You get exposure to Josh, and you might just really like him and like his take on things and his personality and things like that. So go at least, at the very least, hit the like button and subscribe to his newsletter. So we're gonna keep this pretty short and sweet. Josh, what encouragement would you give to people who are down financially? They've lost money in this. They've lost money in that. They've lost money in the other thing. They're very discouraged about finances, maybe struggling with the anxiety over what's going on. Give us some parting words of wisdom as we wrap up here. Markets move in waves, and most billionaires and millionaires have a graveyard of bankruptcies behind them. Doesn't mean you have to go bankrupt to be successful. That's not my point, but my point is that if you're not experiencing adversity, then you either have been handed a silver spoon, or you don't live in the same galaxy that James and I live in, because we have the same problems, we promise, and you're not alone in that regard. So the struggle is real. Market comes back, and it's on its way. So get ready for the tsunami. Yep, nope, couldn't agree more. In fact, the people I know who are most stressed out about money are the people who have more of it. It's just something everybody's dealing with. Me and Josh were talking about that before this video, that I've been traveling all over the world, and everywhere I go, I find people are pretty much kinda doing the same thing that we're doing here in the States, is they're trying to, they're stressed out about finances, trying to get ahead, trying to work, to make money. I mean, it's just the same no matter where you go. But yeah, the markets will come back, so just stay. Part of what I'm doing with my new membership is I want to help people, rather than just like, I feel like sometimes we just kinda are randomly putting our money into things, is developing more of a plan, and sticking to that plan, and I think that will serve us well with the potential upcoming bull market. You need to insert the Pelton flywheel method, it sounds like. You know what? It has to have an alliteration, because I love alliterations, but if I can think of it, the Pelton pinwheel. There we go. Perfect. There you go. See, that came fast, that means it's meant to be. So. Love it. Well hey, we'll wrap up there. Audience, you guys are amazing. Each and every day, appreciate you guys. In fact, in the morning I try to thank the Lord for what I'm thankful for, and I thank him for salvation, I thank him for my wife, my kids, the rest of my family, but I always thank the Lord for my subscribers, for my community. Again, you guys are the reason that I continue doing YouTube. I've thought about quitting YouTube several times and starting different software businesses that I have ideas for, but you guys are, I keep coming back. And feel free to reach out if you wanna schedule 10 minutes to pray, let me know and we'll get that scheduled. And go over and check out Crypto Y'all. So happy to support someone else in the industry that also loves Jesus. So thank you Josh for coming on and sharing your community with us. Thank you man, honor to be here. Awesome. Well everyone, I hope you have a great rest of your Wednesday and we will talk to you later.