Mina Protocol Mina Community Videos, 3 Oct 2022

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From YouTube: 🔥 THE TRUTH ABOUT MINA PROTOCOL - Crazy Facts You Need To Know

Description

Is everybody sleeping on Mina Protocol?

Today, we take a deep dive into what might be one of the most impressive crypto projects out there. A layer-1 blockchain with focus on scalability, privacy, security, and sustainability, Mina combines impressive technology with a strong team and community.

With some insane real world uses cases in the pipeline, this project deserves your attention.

0:00 Intro
1:20 Privacy and Security
3:10 Sustainability
5:30 Real World Use Cases
7:20 Oracle
9:20 Universal Logins
11:00 Mina Nodes
13:00 Post-Hype Sleeper
14:30 The Community
15:45 Organic Marketing
17:15 Conclusion

Mina Protocol: https://bit.ly/3UNA9vR

Beanstock Discord 💬: https://discord.gg/zWBaY6vs3s
Jolly Green Investor 🍀: https://jollygreeninvestor.com
The Nifty Investor 🤖: https://beacons.ai/theniftyinvestor

#crypto #cryptocurrency #bitcoin #ethereum #investors #investing #defi #blockchain #binance #coinbase #altcoin #altcoins #web3 #cryptonews #cryptotrading #minaprotocol

A

This is the truth about Mina protocol, we're about to reveal some crazy facts about Mina that you haven't heard of.

B

Welcome to the bean pod, this is your place for all things. Stocks and crypto from beginner tips to expert picks use this as fuel for your investing Journey, because when you're in the know, your money will grow. This.

A

Episode of the bean pod is sponsored by kyberswap kyber.

C

Swap is a DEX and Dex aggregator, which is built to facilitate all your defy needs in one single platform: fast, cheap and safe user experience is kyberswap's sole Focus to make everyone's life better in D5.

C

Welcome to the bean pod. This is Shane aka, the jolly green investor and.

A

This is Josh the Nifty investor today.

C

We're going to be revealing the truth about Mina protocol. You.

A

May not have heard of this project, but after you revealed it some time ago, in a tweet and in the Discord, and we started to dig a lot deeper into this project holy. This is really cool. Yeah.

C

It's I mean if you've been following us in the Discord on our social media, Twitter, whatever you would have noticed that we've um we've frequently been posting about Mina both in you know what they're doing what they're building and we've got a lot of really cool things. When you look under the hood of this project, so make sure to watch this episode to the end. If you caught our.

A

Three sectors to explode in the next crypto Bull Run. The reason you need to know about this company is because it falls under one of the three sectors that we discussed and that's privacy and security. That's right so Amina protocol is attempting to be the leaders in web 3 privacy and security I.

C

Like that- and you mentioned something about Facebook and the Privacy thing, that was your angle- that you recently said to me, which I think fits right in with Mina Yeah.

A

So basically Facebook has so large corporations are removing the Facebook login due to privacy, concerns and Facebook has been caught up in privacy, breach of data etc. For many years now, and the fact that large corporate you know when you sign into a company website, it's like log into Facebook they're now starting to remove that button yeah it makes sense and that's where I saw a huge opportunity for a company like Mina because of the technology that they use and it's something known as zero knowledge proofs.

A

um We're going to be using your knowledge throughout the episode a few times here, yeah we'll we will be referring to it as ZK. So it's your knowledge. So maybe you want to maybe let the audience know. What is your knowledge proof or as you're not start, snark is.

C

Exactly so, zero knowledge when you're talking about blockchain, basically means that you have access to the data without revealing the actual data itself. So when you're talking about vulnerable information, you know your age, sex, location, ethnicity, all this kind of stuff.

C

You want to be able to prove that data say if you're applying for a loan or a mortgage, you want to be able to prove that data without exposing that vulnerable information itself and going along the lines of what we always say is that privacy and security is going to be a huge trend for crypto moving forward, a blockchain that is is building specifically this zero knowledge. Proof with ZK snarks, like me to protocol, is worth this deep dive.

A

Absolutely and what's really interesting about this project and kind of ties into who you are as a jolly green investor is the size of the blockchain. It's so tiny. It's the world's lightest, blockchain.

C

It's you know, you notice that right when you go on the website, so you go to Media protocol website. First thing: you'll see the whole blockchain. The entire blockchain- and this is kind of mind-blowing- is 22 kilobytes to put that in a comparison with other blockchains they're, normally around 300 gigabytes and expanding, but Mina is 22, kilobytes and fixed at that size. So what that allows it to be is very sustainable. You're, not you know expending a lot of energy on transactions, and you know all the stuff that's going on on the Chain it just.

C

It fits in with that sustainability, renewable narrative, which, along with privacy and security, I, think these are the coins that moving forward are going to win out in crypto, the ones that are scalable, sustainable and private and.

A

I'm such a dummy when it comes to understanding like computer stuff when it comes to kilobytes, megabytes, gigabytes Etc. So to put that into perspective like how tiny this blockchain actually is, 22 kilobytes has been described as something like a couple tweets or the size of a Word document. It's basically nothing virtually nothing and the fact that it stays at that size as it scales, is incredible for its speed and many other things so yeah.

C

So, that's, you know, that's great right away and then you know you know: who's been talking about zero knowledge, a lot vitalik buterin.

A

Yeah, so he was just down at East Mexico. um This is a guy who created ethereum at the age of 19.. So when he speaks, you need to listen and what I found really fascinating about, watching them speak about um down at East Mexico was his attention to ZK knowledge, sorry, zero knowledge, proofs, ZK snarks and how powerful this technology is going to be moving forward and who are we? Who are we looking at right now? The leaders in that space mean a protocol for.

C

Sure so, when you look at, you know, zero knowledge, all this kind of stuff, and we briefly went over the uh use case about mortgage. You know you're applying for a mortgage. You don't want to give away your vulnerable data, but you want to show the company that you are.

C

You know you qualify or you don't qualify, and that's just one example, but if you think about all the potential examples for a private, a privacy focused chain like Mina, going forward, you think about you know: covid pandemic passports or things like health care or or even you know, along the lines of sustainability, carbon footprint tracking. You know all these things that want to be tracked without revealing the customers, consumers or businesses vulnerable data, the the you know, the use cases for me seem Limitless, because.

A

You know when, if you have like third parties that are getting involved- or somebody is interpreting the data you know they can, they can provide you the loan. They can make a judgment based off of your ethnicity, your how old you are. um You know your source of income, but the beautiful thing with this technology is the fact that you just gain the proof of the data, meaning that there's no subjective interpretation of who you are as an individual and.

C

Here's another a great aspect about the fact that your data isn't Exposed on chain, but if the chain is hacked or or you know, the data is stolen. If your vulnerable data isn't on the chain, then you're. Actually you know your your age, sex, location, ethnicity, aren't being taken by the hackers. You know they can't potentially perform identity theft.

C

So it's just another one of those things, that's protecting you as the user or consumer on that blockchain, and even though you know Mina still hasn't hit that you know Real World, Adoption, that we've seen you know in ethereum and Solana. That's one of the reasons that we've been talking about it so much because we like to look for these early stage gems.

C

You know Mina only launched his token a year ago, and it hasn't seen that real world adoption, because they're building they're building through the bear Market again we tweet about this all the time. Look for the projects that are building head down in a bear market and for me Mina, fits that that bill and.

A

With the size of it, it does lead to real world utility. You know when it is only 22 kilobytes, it's something that you can have on your phone and everybody can have access to it and then the great thing about it is: isn't it one of the only protocols that can connect to websites? That's.

C

A

Right so you now you're having a web 3 application interacting with web 2., and does it goes through like the the back door? Was it like the zero knowledge proofs, it can go, the can go through the back door, so the website doesn't necessarily necessarily know that you're attaching to it right.

C

So it's basically like you know, chain link, is an oracle right and Oracle provides data from Real, World or web 2 to the blockchain web3. But the thing about chain link is: it needs the permission of the website to get that data. So something happens if there's a conflict or whatever, whatever occurs chain link, might not have access to that data, but because the Oracle function of mean a protocol is built different, it can potentially get access to that data, which I think is one of the only oracles being built that has that function.

C

So, if you're, even if you're, just comparing Mena to uh to chain link as an oracle, which you know it's not an oracle, it's a layer, one blockchain, but it has this Oracle feature because it privately interacts with the websites. It's verifying that real world data on chain so again, there's just another set of real world use case scenarios for mina. Judging by that technology and.

A

You know someone who's watching or listening to this episode, they're, probably thinking well, if Mina is the one having access to this data, are they not able to review it all, and you know kind of be that subjective entity will know because I mean it doesn't actually see or store the data at all, so the users actually stay in control of their data by keeping it on their local device. Mina Only Stores the proof of the data right right, so even from that perspective, Mina doesn't see it I.

C

Like it, I mean that's why we said it at the start of this episode. There's so many things when you dig into what the technology is. The advantages has over other chains and we'll go back to um what you just talked about with the Facebook login, so Mina. Another potential use case for mina is a private Universal login. So pretend, like you, know like metamask. It works all throughout the crypto ecosystem. Connects your metamask you're in right. Mina.

C

Has this capability to do this same thing across the entire internet right when we move to a web 3 internet because they have this private again, it's all about private right, so they can show your your login details without exposing your actual details.

C

So again, you know when you look at real world use cases, uh private, Universal, login potential for these Oracle features.

C

um You know all these, these zero knowledge protecting data, which it's just it's a trend that I'm all over I mean it just. It continues to tick boxes as you look into it. I.

A

Mean we have the Oracle power of link, you know you're, the world's lightest blockchain. You have security, that is, you know in some respects, Superior to ethereum um scalability.

A

In some cases, Superior dramatic I mean the fact, if you missed out on a Solana or any other any of the other layer ones that have ripped to like 50 billion dollar market caps, when this one's only sitting at what 800 million dollar market cap or so yep I think this is an excellent layer, one to really keep on your watch list for sure, especially with the real world utility and.

C

You know now we can. Let's talk about the comparison of mina to the hottest name, while in the space which is ethereum, you know we just completed the ethereum. Merge it switched from proof of work. To proof of stake. Proof of stake is inherently more environmentally friendly and sustainable than proof of work because it doesn't have the same mining. uh You know capability or function. So it's much lighter on the environment, but when you look at what's happened with ethereum the nodes and all that kind of stuff is become more centralized.

C

But one thing when you look into Mina that's interesting is that every user is a full node right and can connect peer-to-peer without the need for intermediaries.

C

So it's like you know what everyone can get involved as a node I like that, because a lot of other blockchains and layer ones, you need a lot to become a node. You know a lot of money, computing power, all that kind of thing, but if every person can do that in this peer-to-peer, Network, that's interesting.

A

I saw something on Twitter today or something since the ethereum merged and then switching to a proof of stake. They've actually gone I think going from proof of work to proof of stake, something like point two percent: less less electricity across the globe is now being utilized.

C

Yeah I saw that that's crazy, so it's a lot.

A

Yeah so I kind of I get where um this ESG narrative is coming from I understand. You know how the government's kind of pushing this climate change aspect of so the switch to POS when you're, when you already are proof of stake, I mean I. Think that's just where you have to be right now.

C

Right and and not only is Mina proof of stake, which is more sustainable than proof of work, but the zero knowledge part I think makes it even more sustainable because it's better, for you know, controlling data and all that kind of stuff. Yeah.

A

And because so with it only being 22, kilobytes and proof of stake, it only requires verifying 22 kilobytes of data. So it's almost instant as well.

C

And one of the things that when you look at the Mina, uh the the website is you look at the Venture Capital firms and the companies that have funded Mina and are behind it? Coinbase Ventures, a bunch of basically any crypto Venture Capital company that is worth anything is behind Mina. It was one of the most hyped launches the Ido last year. The hype was massive and you know, as you would expect, like all crypto projects, you know nothing against Mina the token price tanked, which is what happens with.

C

Basically, any idea show me an Ideo that doesn't tank right, yeah and the hype has died, but that's what we do is we're looking at projects that aren't hyped hidden, gems and one of the reasons that I like Mina so much is it never really ran during the last bull run. You know, I, don't want to be buying Avalanche at the top I, don't want to be buying near protocol after a 400 pump. If you look at the mean a chart that token price is low, yeah, it's it's you know.

C

No one is really talking about media protocol from.

A

A risk reward perspective, and that is something that we try to do on. This podcast frequently is look for the best risk reward and why it is going to provide that you know when we do our when we did our Deep dive into like hbar. For example, you know it's the hashgraph technology that we like so much. It's the fact that it's only a 1.5 billion dollar market cap and when you compare it to others in the space, how much more I can actually run when they have the right, Partners, The, Right, Use cases.

A

You know good tokenomics, the right team, the community. All these things put together, making excellent risk reward uh choice for an altcoin.

C

For sure, and when you, when you talk about Community, you can always get a gauge of community when you start tweeting about a company or a coin, because you see the interaction with your tweets.

A

C

Certain coins have these engaged communities, which is always a great sign because they're fostering an organic Community around the project and Mina again it ticks that box. You know I'm tweeting about Mina on the reg now and you can see the engagement. People are really passionate about this project and you know after you look under the hood, like we've done over the past few minutes. You understand why.

C

So when you see a community of of mina holders that span the entire world they're going to these meetups they're, taking pictures, they're they're spreading the word organically that goes down to you know not even just crypto any company. You know you look at like a cult following like uh Lululemon or apple. You know right. You have that passionate engaged Community following a company or coin or whatever it is take note of that project, especially something as early stages Mina.

C

You know they haven't even really rolled out their real world use cases and they already have an Engaged, Community, yeah I, love that it's it's and then you look at the road map. They've got so many things. You know if you follow them. If you follow them on Twitter in their reddits or whatever their medium articles, they've got so many things that are coming because of you know: they've got these zero knowledge, Bridges, zero knowledge, decentralized, apps, zero knowledge oracles.

C

All of these different lines that their blockchain has in Tech has so many potential real world use cases. So they're building out all this right now, when no one's looking, that's what I like.

A

Yeah the fact that they're not spending any money on marketing, especially during this period of time, you know we're in a bit of a bear: Market, you want teams who are developing and that's what they're doing so when we get the Bitcoin having in 20 2024 early 2024, that's gonna be a time where these protocols and these blockchains, the ones that have been building the most during that period of time, are the ones that's going to absolutely rip, especially with a community that Mina has yeah.

C

I mean we talk about finding Hidden, Gem crypto projects, and we, you know, we say, look for the same things.

C

Look for the attack, look for the team, look for the road map, look for the community and to me Mina takes all the boxes, and then you add that with what's gone on with the token and when Mina was an early stage, I was like you know: I get the hype, it's a really interesting project, but at that point, when it was launched there weren't that many tokens in circulation now that it's you know over a year since launch a lot more of this applies in certain in circulation right, so you don't have again the potential sell-offs that you would have for a newer project.

C

So now as it matures as a coin, it becomes again more attractive for me to add to my portfolio.

A

Yeah and I know they have some really was it like. Some super boost staking rewards. They have.

B

A

16 plus percent, or something like that right for staking Mina and validating the network work, so big incentives.

C

To get involved in the ecosystem right exactly yeah.

A

When it's, you know, when you can do it from your phone or anybody can be a participant, I think it's definitely worth investigating. 100.

C

So you know when going back to just driving that point home when you look at crypto projects that are sustainable, scalable, interoperable and private, plus a strong team community and real world use cases coming out the yin yang. For me, you know, like I I'm, not sure I would put any other project other than Mina at the top of the list. Yeah.

A

No, it's definitely up there for me too, especially from a layer. One perspective.

C

um Right now it's 88th ranked so it's just in the top 100 I think you said around 800 million market cap, so it's under under a billion. So you know it's a mid cap. It's not by no means a large cap. You know not maybe a small cap, but it's in that zone. I think that's kind of like the golden Zone, where we like to find our gems I mean.

C

Obviously we like small caps, but when you're looking at you know between 500 million and a billion yeah there's so many projects there that have massive potential to get up to. You know that Solana B and B, those like the big dogs and you know for me, being a protocol sitting under a billion market cap that looks nice, especially.

A

When you look at maybe on the stock market, for example, you look at other tech companies and what they're valued at you know. Some of these companies are value like they do nothing and they're at like 100 billion 10 billion, whatever.

B

A

Have all these crypto companies right now that are actually Paving the way for the future and they're sending these 500 million dollar market caps yeah? And if you just have an ounce of patience, you know a little bit of long-term thinking. There's some really good projects out there that do sit at like this market cap I mean it's definitely one of them. So.

C

Yeah I mean look if you want the truth about media protocol. The truth is that it's gonna, it's a coin that I'm DCA into it's gonna, be one of my long-term holds through the next bull market. It takes all the boxes, sustainable, private, all that kind of stuff. They got a great road map. Token price looks good to me, I mean if you want the truth about media protocol. Is that I really like it yeah.

A

Me too, hey make sure you guys tune to the next episode that one's gonna be a banger.

B

All Views, expressed by speakers on the bean pod, are solely their opinions. You should not treat any opinion expressed on the beam pod as a specific inducement to make a particular investment or follow a specific strategy. It only has an expression of their opinion. This podcast is for informational purposes. Only. Thank you.