Speaker 1: You're listening to a share these podcast Krypto.
Speaker 2: I don't know what your thoughts are on crypto. It
Speaker 2: seems like one of those things that five minutes ago
Speaker 2: everybody said was a terrible idea, and now suddenly everybody's
Speaker 2: woken up and gone, hang on, this actually could be something.
Speaker 2: I mean, is that a conversation that the people that
Speaker 2: you relate to and make content to and talk to.
Speaker 2: Is that something they're talking about. Is it in their
Speaker 2: mindset or is it not something that they're even on about.
Speaker 3: I think it's another good example where some people are
Speaker 3: seeing forms of crypto as gambling, and so they won't
Speaker 3: be interested in lotto or a casino or something, but
Speaker 3: they go, oh, I've heard about this thing, and if
Speaker 3: we all get into it, and it could pop off
Speaker 3: and I put my thousand dollars and it's going to
Speaker 3: become worth six, but your thousand could be come worth
Speaker 3: zero as well. Like how much do we really know
Speaker 3: about it? I think there's a big difference between bitcoin
Speaker 3: and the people who really get into that space and crypto.
Speaker 3: I don't know a lot about crypto, but you know,
Speaker 3: I've kind of focused my understanding on bitcoin and why
Speaker 3: people are so interested in bit coin. Over this last
Speaker 3: five years, what I've noticed is that there's a massive
Speaker 3: increase in understanding of how the purchasing power of our
Speaker 3: dollar is losing its value. So we might not go
Speaker 3: on the reserve bank inflation calculator and run the numbers.
Speaker 3: But when someone says, oh, but it has now cost this,
Speaker 3: we go there is crap. How can this happen? And
Speaker 3: so people have gone, well, what can I do? And
Speaker 3: I think those people are seeing bitcoin as a store
Speaker 3: of wealth in a way to kind of exit some
Speaker 3: of the impact that they're feeling on the other side,
Speaker 3: where they're watching money get created and then lose its value,
Speaker 3: and they go, Okay, this looks like a life raft
Speaker 3: they might call it, or a different form of technology
Speaker 3: and solution.
Speaker 1: I'm going to learn more about it. I'm going to
Speaker 1: back my education.
Speaker 3: I'm going to put some money into bitcoin to protect
Speaker 3: myself from the losing value of.
Speaker 1: The New Zealand dollar or whatever.
Speaker 3: Right, But you could also argue, but that's why people
Speaker 3: brought property, and that's why people you invest in shares,
Speaker 3: because we're all trying to beat inflation so that our
Speaker 3: dollar that we do have that will work so hard
Speaker 3: for isn't becoming worth even less? And maybe bitcoin and
Speaker 3: cryptos just the new wave of people understanding there and
Speaker 3: learning about that. Now, if it helps increase education, amazing.
Speaker 3: Will people be scammed and taken advantage of and whatnot?
Speaker 1: Yeah?
Speaker 3: Probably because you know humans, we're looking for a quick
Speaker 3: win or whatnot. So you know, that's the dangerous side
Speaker 3: of it that I think people need to accept the
Speaker 3: decisions that they're making or be very educated before hitting
Speaker 3: transfer money somewhere.
Speaker 2: I guess that trust part is hugely important, right, is
Speaker 2: who you're dealing with and how can you trust that?
Speaker 2: Because people will know, okay, you can buy a house,
Speaker 2: and there are the these are the ways that it
Speaker 2: could fall apart. These are the reports you can get.
Speaker 2: You know, if you're dealing with a real estate agent,
Speaker 2: they've got a history. You can check that out. There's
Speaker 2: a trust path you can follow. For the crypto part,
Speaker 2: it seems like maybe there are fewer trust paths around,
Speaker 2: or maybe maybe I'm just not across all of them.
Speaker 3: Well, when I first brought crypto, it was twenty twenty,
Speaker 3: but I'll take your step back, So it was twenty seventeen.
Speaker 3: I was working in an accounting office and bitcoin is
Speaker 3: bubbling again, and a client came in and said, oh, hey,
Speaker 3: I got given a bitcoin when I was traveling in Europe.
Speaker 1: I need to cash it in.
Speaker 3: I was like, oh, my mates are talking about that,
Speaker 3: and said to my boss and he's like, oh, see
Speaker 3: if they'll buy it. And next thing, they're in the
Speaker 3: car drive into the accounting practice and they've got a
Speaker 3: group of them pulled together their cash and like yeah,
Speaker 3: we'll bite off the client.
Speaker 1: I'm like, what the hell just happened? What did they
Speaker 1: just buy? How much?
Speaker 3: What is this twenty twenty? I start kind of thinking, oh,
Speaker 3: what's happening in the world. Maybe I should be buying
Speaker 3: some gold. And I'm self managing my KEYI save and
Speaker 3: I'm like, hey, I'm going to allocate some to gold
Speaker 3: and they're like, oh, we don't advise that.
Speaker 1: I'm like, dah, the world's going to fall over. I've
Speaker 1: seen this before.
Speaker 3: I need to And then I start learning about bitcoin
Speaker 3: and I'm like, these people talking about this again, I
Speaker 3: might buy some. So I go through to learn the
Speaker 3: process and I think, you know then I and I
Speaker 3: go in my mind, I go, money follows attention. If
Speaker 3: this gets more attention, it will probably increase some price.
Speaker 3: I'm willing to take some risk on it. And then
Speaker 3: I start just getting back to my normal life. And
Speaker 3: then I see more and more people talking about it,
Speaker 3: but really intelligent and smart people, and I stop and go,
Speaker 3: why is this thing attracting so many bright minds? Like
Speaker 3: why are some of the cleverest people in the world
Speaker 3: working on this? They either aren't and the whole thing's
Speaker 3: going to pop and it's going to be like what
Speaker 3: were they thinking?
Speaker 1: Or they know something? And I'm like, I'm not intelligent
Speaker 1: enough to.
Speaker 3: Figure that argument out, But I'm going to go along
Speaker 3: for the ride and put some money into bitcoin and
Speaker 3: understand more about it, and if it goes to zero
Speaker 3: and the whole thing pops, I'm going to go, Wow, Okay,
Speaker 3: maybe there's a really good life lesson in there for me.
Speaker 3: If not, at least I backed my own judgment.
Speaker 2: Money makes it matter, Eh, Maybe you put a little
Speaker 2: skin in the game there and you're actually paying a
Speaker 2: little bit more focused attention.
Speaker 1: Yes, investing involves the risk you might lose the money
Speaker 1: you start with. We recommend talking to a licensed financial advisor.
Speaker 2: We also recommend reading product display LaSure documents before deciding
Speaker 2: to invest,