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Speaker 1: This episode is brought to you by P and C Bank.

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Speaker 1: A lot of people think podcasts about work are boring,

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Speaker 1: and sure they definitely can be, but understanding a professionals

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Speaker 1: routine shows us how they achieve their success little by little,

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Speaker 1: day after day. It's like banking with P and C Bank.

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Speaker 1: It might seem boring to safe plan and make calculated

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Speaker 1: decisions with your bank, but keeping your money boring is

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Speaker 1: what helps you live or more happily fulfilled life. P

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Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

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Speaker 1: Boring since eighteen sixty five is a service mark of

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Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

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Speaker 1: National Association Member FDIC.

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Speaker 2: Erness What's Up?

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Speaker 1: You ever walk into a small business and everything just

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Speaker 1: at a pop up market, or even one of our

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Speaker 1: manage inventory, and run their business with confidence, all from

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Speaker 1: one simple system. If you're a business owner or even

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Speaker 1: don't hesitate. Let's Square handle the back end so you

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Speaker 1: can keep pushing your vision forward.

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Speaker 3: Yeah.

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Speaker 2: Yeah, we bat, we bat, we bet, we live.

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Speaker 4: Let's get it.

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Speaker 2: What's going on, folks? Happy?

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Speaker 1: It is a chilea day here in the northeast shot

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Speaker 1: everybody everywhere in the world.

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Speaker 2: It could have been anywhere in the world.

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Speaker 1: But you're here with us tonight, man, and you're in

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Speaker 1: for an absolute treat. Bitcoin is a talk of the town.

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Speaker 4: That's a fact. That's a fact.

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Speaker 5: So much stuff going on, and you know, we've we've

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Speaker 5: done this a few times, but we'll do it again.

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Speaker 5: I think this is actually the third time where we

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Speaker 5: kind of had this conversation. I know we did it

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Speaker 5: during the pandemic with Justin and I believe we did

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Speaker 5: it one other time.

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Speaker 4: We've talked about crypto.

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Speaker 5: A lot, but we have like actual boot camp as

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Speaker 5: far as like explaining it, breaking it down.

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Speaker 4: Yeah, so this is a time to do it again.

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Speaker 5: You know, every two years, it seems like we have

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Speaker 5: this conversation because that's when the boat run happens. But

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Speaker 5: so many people are interested in cryptocurrency, specifically bitcoin, and

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Speaker 5: it's intimidating.

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Speaker 4: I put it on Instagram.

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Speaker 5: A three percent of Americans still are not invested in

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Speaker 5: any form of cryptocurrency ever, So today we're going to

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Speaker 5: go over the ins and outs everything you need to

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Speaker 5: know so you can make an informed decision if you

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Speaker 5: want to start to actually put some money into crypto.

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Speaker 2: Yeah, that's a fact.

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Speaker 1: The more that we see it run up, the more

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Speaker 1: people are interested. That starts coming up on every news feed.

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Speaker 1: Your parents are talking about it, your grandparents are talking

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Speaker 1: about it, your kids.

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Speaker 2: Want to know about it. But most people don't have

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Speaker 2: the education. And so it's funny.

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Speaker 1: I found I read some comments today like y'all finally

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Speaker 1: want to talk about it now that it's up a

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Speaker 1: little nd over one hundred thousand.

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Speaker 2: I'm like young and you haven't been here since the beginning.

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Speaker 2: We actually spoke.

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Speaker 1: About it in one of our early episodes with with

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Speaker 1: our Fitzitzpatrick was it Fitzpatrick Charleston Patrick. Yeah, so that

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Speaker 1: was early on Green Table, Shotgun Mice. We were talking

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Speaker 1: about cryptocurrency even back then. This is twenty nineteen. So

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Speaker 1: if you're a newcomer, go back and do a little homework.

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Speaker 1: But tonight we're gonna give y'all is this is one

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Speaker 1: of the ones where you're gonna get all the information

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Speaker 1: that you need to know to making forum decisions going forward. So,

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Speaker 1: like we said, whenever I tell you what to invest in,

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Speaker 1: we're gonna give you all the information that you can

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Speaker 1: make an intelligence intelligent decision. And tonight is one of

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Speaker 1: those ones where intelligence will be displayed at a high level.

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Speaker 5: All right, all right, so let's let it marin. They

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Speaker 5: hit the light button and share. So we're going to

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Speaker 5: bring our good friend up, Caleb Silver, who is the

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Speaker 5: editor in chief.

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Speaker 4: Oh, here you go. What's going on?

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Speaker 2: My brother? What's going on that you see that? You

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Speaker 2: see that shirt? Good?

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Speaker 4: The good e y l Polo.

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Speaker 3: They don't make these anymore. These are special limited.

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Speaker 4: Very rare. That's very rare.

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Speaker 5: Actually stitched Caleb, somebody who we connected with years ago

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Speaker 5: and just a brilliant mind as far as in the

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Speaker 5: world of finance editor in chief and Investorpedia site that

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Speaker 5: I've been using for years even before or Elisia. It's

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Speaker 5: a encyclopedia for anything financially related. So if you have questions,

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Speaker 5: like you could ask it what's the blockchain, what's crypto,

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Speaker 5: what's e ETF and uh, Investorpedia has all answers. And

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Speaker 5: we connected with with Caleb and then we did an

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Speaker 5: episode and then we had him on Market Mondays, and

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Speaker 5: we had them in London and we did invest Fast Europe.

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Speaker 5: Then we had him at invest Fest a few times. So,

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Speaker 5: I mean, he's done so many different things as far

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Speaker 5: as in person events and then also it's just been

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Speaker 5: a great resource. He's been able to connect us with

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Speaker 5: a lot of great people, a lot of you know,

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Speaker 5: high regard people you know, come through his uh, his network.

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Speaker 5: So he's he's been somebody that we've definitely you know,

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Speaker 5: utilized him as a resource and appreciate him for sure.

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Speaker 5: So when we wanted to have this conversation. I wanted

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Speaker 5: to just keep it very neutral and I want to

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Speaker 5: have you know, a sway towards one coin or try

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Speaker 5: to get people to invest like we really this is

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Speaker 5: purely for informational purposes only we're not trying to actually,

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Speaker 5: you know, pump a meme coin. We're not trying to

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Speaker 5: sell you anything. We're just trying to give you some information.

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Speaker 5: So he was the perfect person because you know that's

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Speaker 5: right up his alley. So here he is here, he is.

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Speaker 5: Thank you for joining us. Appreciate it.

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Speaker 3: It is an honor to be here. You guys have

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Speaker 3: done so much for financial education and for spreading the

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Speaker 3: good word, fighting the good fight out there more than

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Speaker 3: anybody I know, and it's really an honor to contribute

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Speaker 3: to the platform. I always feel blessed to be able

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Speaker 3: to join you and your audience, and so thanks for

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Speaker 3: having me. And this is pure education. This is what

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Speaker 3: I'm good at. I am not great at picking the

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Speaker 3: next great meme coin. I'm terrible at that, but I

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Speaker 3: am really good at trying to understand it. Because I

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Speaker 3: want to be an educated investor no matter what I do,

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Speaker 3: and this is an area where we all need more

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Speaker 3: and more education because the hype machine is in full effect.

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Speaker 3: You say, you're not here to pump coins. They don't

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Speaker 3: need your help. Those coins are being plenty on their own,

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Speaker 3: plenty of hot air under this market. But there's a

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Speaker 3: lot to learn and a lot to understand. So I

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Speaker 3: appreciate you sharing the platform and letting me bring some

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Speaker 3: some of the resources that I've used at investi Pedia

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Speaker 3: in other places to get a better understanding of this myself,

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Speaker 3: because I'm an investor in the space, but I am

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Speaker 3: by no means an expert. But I do think I

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Speaker 3: have a general understanding of it. I'm excited to share

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Speaker 3: it with your audience. Thank you.

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Speaker 4: That's a fact.

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Speaker 5: So yeah, I mean, you know the stages set cryptocurrency.

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Speaker 5: You know, our first experience with cryptocurrency was twenty seventeen,

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Speaker 5: and we had a collective group of guys then.

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Speaker 4: Just invested in crypto.

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Speaker 5: Everybody kind of invested in, you know, different amounts of money,

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Speaker 5: but at that time it Hey, that's why I just

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Speaker 5: think it's kind of works in cycles, because at that

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Speaker 5: time bitcoin was going crazy. And I remember me personally

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Speaker 5: when I first purchased bitcoin, it was five thousand dollars,

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Speaker 5: and I remember talking to my dad and he just

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Speaker 5: didn't understand it. He's like, why would you pay five

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Speaker 5: thousand dollars for something that's not even real, like five

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Speaker 5: thousand dollars five thousand dollars for bitcoin, Like that's that

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Speaker 5: doesn't even doesn't even make any sense, Like you can't

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Speaker 5: even comprehend.

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Speaker 3: Yeah, that would only get you twenty percent of a

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Speaker 3: bitcoin today.

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Speaker 1: Yeah, yeah, yeah, that was That was the time, and

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Speaker 1: at the time, I remember, I still remember that. I

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Speaker 1: remember when you purchased it. It was three things you

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Speaker 1: could buy. It was like light coin, ethereum, and bitcoin.

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Speaker 3: I bought them off.

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Speaker 6: Yeah, everybody was like, well, love, just buy them all.

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Speaker 1: We weren't really understanding of it. We saw that run

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Speaker 1: up up to seventeen thousand. It was like, this is

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Speaker 1: the game changing. I remember saying it's to a lot

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Speaker 1: of people. We don't want to get left on the

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Speaker 1: dock when this ship leaves, right, this is the airport.

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Speaker 1: We don't want to get left at the terminal when

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Speaker 1: this plane takes off, because it's gonna take off and slowly.

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Speaker 1: People were like, uh, kind of hesitant, kind of has

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Speaker 1: a tant And now I mean this this the ships.

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Speaker 6: Has it's leaving the dot.

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Speaker 1: Uh, So we got to make sure that we have

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Speaker 1: enough information that we're on this journey called bitcoin and

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Speaker 1: cryptocurrency and as a whole.

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Speaker 4: Yeah, so a long story short.

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Speaker 5: Obviously it's come a long way since then, from five

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Speaker 5: thousand dollars to one hundred, one hundred and one thousand dollars.

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Speaker 5: So let's let's go through this journey.

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Speaker 4: If we can hit the like button please and share.

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Speaker 5: But Hyler, but I know you you have some slides

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Speaker 5: and we're really gonna go full fledged education with this.

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Speaker 5: So what we're gonna do is we're gonna go through

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Speaker 5: some slides and then we'll ask some questions and then

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Speaker 5: we'll ask we'll take some questions from the audience and

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Speaker 5: people interested in the audience that have questions.

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Speaker 4: So yeah, I'll let you. I'll let you queue it up.

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Speaker 3: You know.

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Speaker 4: I guess you want to.

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Speaker 5: Start with this, you know, introduction, then from what bitcoin

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Speaker 5: and then just take it from there.

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Speaker 3: Cool, all right, let me make sure I can I

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Speaker 3: can move this all right?

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Speaker 1: Cool?

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Speaker 3: I can move them around? Well? Again, thank you for

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Speaker 3: having me investi Peda. It has been around for a minute.

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Speaker 3: We were founded in nineteen ninety nine. We're twenty five

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Speaker 3: years old, celebrated our twenty fifth anniversary this year, and

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Speaker 3: we've been educating investors about money, about investing, about personal finance,

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Speaker 3: about all the aspects of how to live with money

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Speaker 3: in your life, but especially about investing in wealth building

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Speaker 3: for a very long time. We are a free site.

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Speaker 3: Come on, come all. If you search something up on

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Speaker 3: the internet, like any of these terms, bitcoin, blockchain, proof

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Speaker 3: of workproof of stake, you're going to see our results

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Speaker 3: near the top because we've been doing this for a minute.

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Speaker 3: So we are delighted to be here, and I'm delighted

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Speaker 3: to represent as the editor in chief. I've been a

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Speaker 3: business journalist for thirty years, so i am not, as

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Speaker 3: I said, a crypto expert, a trading expert. What I

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Speaker 3: am good at is learning these ecosystems and then sharing

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Speaker 3: that information. So if you like what you hear, if

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Speaker 3: you want to hear more, follow us on invested Pedia,

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Speaker 3: follow me if you want. I do a lot of

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Speaker 3: this stuff, a lot of the front facing social education

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Speaker 3: stuff for investor Pedia, and I'm on TV and on

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Speaker 3: the radio, and I've been privileged to be on your

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Speaker 3: stage a few times as well, So let's get after

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Speaker 3: it everything and are most of the things I'm going

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Speaker 3: to talk about today I got from our guides on

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Speaker 3: bitcoin and cryptocurrency at investi Pedia, but I also grab

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Speaker 3: some resources from some other places. So if you're very

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Speaker 3: too fast or I'm saying things that go over your head,

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Speaker 3: hey throw it in the chat and say what does

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Speaker 3: that mean? B Scan this code so you have it

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Speaker 3: so you can look at our guide. It's pretty robust

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Speaker 3: on all things crypto, but especially bitcoin, which is sort

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Speaker 3: of the king of the coins in the cryptocurrency patch,

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Speaker 3: so to speak. So scan that, scan it now, scan

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Speaker 3: it later. But this is all free and easy stuff

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Speaker 3: to digest. If I go through something that you don't understand,

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Speaker 3: so I recommend you do that. Let's talk about bitcoin

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Speaker 3: itself again, the king of the coins, and guys interrupt

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Speaker 3: me as you see fit. But this is a cryptocurrency,

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Speaker 3: virtual money. Some people call it digital gold. But it

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Speaker 3: was created about fourteen years ago to be outside the

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Speaker 3: control of anyone person or group, so banks and governments

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Speaker 3: aren't needed to produce it, to regulated or oversee it.

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Speaker 3: And think about when it was formed and the ashes

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Speaker 3: of the Great Financial Crisis right Occupy Wall Street was

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Speaker 3: happening at the time. There was a lot of backlash

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Speaker 3: against banks too big to fail, a system that was

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Speaker 3: broken based upon mortgages that shouldn't have been carved up

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Speaker 3: and sold. Right, There was this lack of trust in

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Speaker 3: the financial system. So bitcoin was born out of that,

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Speaker 3: along with a lot of other technologies, but this was

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Speaker 3: the big one again when it was born. It was

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Speaker 3: born as a as a digital currency, but it was

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Speaker 3: really a software program and a problem solved by a

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Speaker 3: mysterious figure. Whether this person is an actual person, a

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Speaker 3: group of people, a consortium, a man, a woman, an alien,

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Speaker 3: we have no idea, but they go by the name

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Speaker 3: of Sutashi Nakamoto, right, the creator of the bitcoin currency,

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Speaker 3: who basically created this idea for this digital currency. Through

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Speaker 3: this white paper and scan the code if you want

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Speaker 3: to geek out and read it. It gets very dense,

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Speaker 3: very fast. But they they created it for a reason,

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Speaker 3: to create this currency that lived on a blockchain, a

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Speaker 3: digital ledger, away from government oversight, away from the big

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Speaker 3: bad banking institutions. So if you really want to get

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Speaker 3: into it, you can read about Sutoshi, or you can

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Speaker 3: read the white paper itself. I've only made it through

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Speaker 3: a few pages and it really knocks me out because

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Speaker 3: I'm just not that smart. But people that love to

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Speaker 3: geek out on computer programming really are into the white

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Speaker 3: paper and it makes a lot of sense for them.

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Speaker 3: But he created this idea for bitcoin to be this coin,

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Speaker 3: this currency that traded on the blockchain. You've probably heard

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Speaker 3: this name a lot, the blockchain. What is the blockchain? Well,

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Speaker 3: the blockchain is like a digital ledger. If you think

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Speaker 3: about you know, if you yet ran a small business

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Speaker 3: years ago, or you had parents that did it, and

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Speaker 3: they had the accounting sheet, the assets and liabilities, and

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Speaker 3: every transaction was recorded on a real ledger, on a

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Speaker 3: real piece of paper. This is a digital ledger, but

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Speaker 3: it's wide open to everybody, so all records are transparent

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Speaker 3: and it's impossible to alter. The blockchain. It is a

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Speaker 3: digital record of transactions, of work, of insurance. It's used

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Speaker 3: in a lot of different ways right now. And if

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Speaker 3: you think about the way cryptocurrencies in the blockchain are related,

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Speaker 3: think of the blockchain like the highway right right, the

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Speaker 3: highways built out there for all of us to get around,

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Speaker 3: and then the cryptocurrencies and the tokens are the vehicles

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Speaker 3: on that highway. So this is the underlying structure of

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Speaker 3: all of these cryptocurrencies. They're on this open blockchain where

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Speaker 3: we can see everything, and you're going to hear a

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Speaker 3: lot if you haven't already about centralized versus decentralized versus

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Speaker 3: distributed networks. This is only important so you get it conceptually.

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Speaker 3: But when you think about a centralized network, think about

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Speaker 3: like our banking system. Right, there's your bank, could be

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Speaker 3: city bank, could be chased, could be any bank of America, right,

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Speaker 3: but all banks are part of banking networks. Right. There

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Speaker 3: may be individual retail banks or chains of banks. But

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Speaker 3: in the middle of it all is the central bank, right,

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Speaker 3: the Federal Reserve. The Federal Reserve is the central bank

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Speaker 3: of the United States, and then our twelve regional central banks,

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Speaker 3: and then all banks have to work within their net,

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Speaker 3: within their rules. Right, So that's a centralized network right

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Speaker 3: in the middle. You got the big circle in the middle,

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Speaker 3: like a solar system and all the things running around it.

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Speaker 3: Our solar system is a centralized network if you think

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Speaker 3: of it that way. A decentralized network is what blockchain

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Speaker 3: is right. This is where it's open to everybody. Everybody

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Speaker 3: can see what's going on. There is no one person

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Speaker 3: or thing or entity and control of a decentralized network,

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Speaker 3: and that is the promise of the blockchain and ultimately

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Speaker 3: all the cryptocurrencies that are trading on it, that live

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Speaker 3: on it, or that are programmed into the software of it.

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Speaker 3: And then there's distributed networks. Think like your cell phone company, right,

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Speaker 3: their cell phone towers and their cell phone companies everywhere,

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Speaker 3: but they're distributed all over the place. So you have

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Speaker 3: your Sprint tower over here, and you have your AT

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Speaker 3: and T tower over here. That's a distributed network. But

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Speaker 3: for the purposes of understanding cryptocurrency and the blockchain, it's

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Speaker 3: really a decentralized network that you have to get your

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Speaker 3: mind around. Super important to understand what that is. So guys,

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Speaker 3: interrupted any time, but just so we can get through

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Speaker 3: some of these basis, because we're going to refer to

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Speaker 3: some of these words. Where's the blockchain being used today

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Speaker 3: in twenty twenty four and really for the past five

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Speaker 3: or six years. Well, one of the big reasons that

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Speaker 3: bitcoin was created and the blockchain became such a big thing,

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Speaker 3: especially in the wake of the Great Financial Crisis was

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Speaker 3: the ability to transfer money to people, either the unbanked

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Speaker 3: or the people that did not trust banks anymore that

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Speaker 3: wanted to just transfer funds. Right now, globally there's money

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Speaker 3: being transferred from one country to another. People here are

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Speaker 3: transferred back home to where their families are. Money transfer

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Speaker 3: has been a huge business, but you think about the

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Speaker 3: fees and the friction in a money transfer. If you're

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Speaker 3: transferring one hundred bucks, you know, to you know you're

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Speaker 3: at in Jamaica, You're probably going to pay fifteen bucks

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Speaker 3: on that for a money transfer fee, and there's multiple

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Speaker 3: layers or friction that it has to go through. So

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Speaker 3: the blockchain is used to sort of eliminate that, and

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Speaker 3: you can transfer bitcoin without paying a fee. Smart contracts

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Speaker 3: that's where the blockchains being used as well. Think about

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Speaker 3: insurance or real estate. How many, you know, stacks of

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Speaker 3: papers do we sign and fill out? And how many

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Speaker 3: files are there for one real estate transaction there are

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Speaker 3: hundreds of them. If you've ever bought a house or

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Speaker 3: a piece of property, you'll sign your name fifty or

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Speaker 3: sixty times and the PaperWorks all over the place. A

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Speaker 3: smart contract is on the blockchain. Everybody can see it.

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Speaker 3: They open it up like a digital file, Internet of

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Speaker 3: things very similar. You know, refrigerator knows when you're out

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Speaker 3: of milk, it's already placing the order for you.

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Speaker 2: Right.

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Speaker 3: This is blockchain less friction, sort of the digital world

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Speaker 3: connecting to itself. And then there's things like healthcare where

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Speaker 3: we're using blockchain logistics. Non fungible tokens you may have

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Speaker 3: heard of, right, Those live on a blockchain and you

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Speaker 3: trade those through through digital currencies like ethereum. Even the

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Speaker 3: government uses blockchain, and in the media we use blockchain

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Speaker 3: as well for file storage coming through files. Right, it's

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Speaker 3: already in use. So if you think about this infrastructure,

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Speaker 3: I think of it like a highway. It's already out

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Speaker 3: there and it's been out there for a number of years.

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Speaker 3: And I mentioned the fact that the blockchain is the highway.

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Speaker 3: But then the coins and the tokens are the vehicles

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Speaker 3: that trade on that highway and they serve different purposes.

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Speaker 3: So bitcoin is a coin obviously you know the name, right,

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Speaker 3: But then there are the things like tokens. Utility tokens

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Speaker 3: are dow tokens. Bitcoin is a digital currency similar to

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Speaker 3: a physical currency. But in the case of bitcoin, it's

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Speaker 3: not backed by anything, right, it's not a store of

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Speaker 3: value for something like gold. You can't base its value

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Speaker 3: off of you know, what it would trade in for gold.

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Speaker 3: But it does have a numer It does have a

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Speaker 3: number of a fee a dollar amount associated with it

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Speaker 3: that we'll talk about in a minute. But they operate

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Speaker 3: on their own blockchain with their own protocols. You can

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Speaker 3: use them as a source of payments. Bitcoin is the

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Speaker 3: big one, and Ethereum you've probably heard of that as well.

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Speaker 3: In coins, we talk about smart coins and we talk

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Speaker 3: about sort of dumb coins. Bitcoin's kind of a dumb coin,

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Speaker 3: not that it's a dumb technology. You just can't do

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Speaker 3: much with it, but collect it, trade it. Now you

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Speaker 3: can purchase things with it. Ethereum is a little bit smarter.

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Speaker 3: Tokens are a whole different thing. They don't necessarily operate

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Speaker 3: on their own blockchain. You can use them for payments

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Speaker 3: and for signing digital agreements. So think about that real

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Speaker 3: estate purchase, right, you may use tokens in a digital

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Speaker 3: blockchain world to complete or parts of that purchase or

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Speaker 3: part of that paperwork.

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Speaker 2: Right.

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Speaker 3: They're more useful, but they're not like a digital currency, right, really.

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Speaker 1: Quick because a lot of people when they hear crypto currency,

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Speaker 1: they hear bitcoin to hear blockchain, they think that they're

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Speaker 1: all the same thing. So I just want you to

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Speaker 1: touch on that just really quickly. Because blockchain is a technology. Obviously,

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Speaker 1: Bitcoin is a coin that operates on that technology.

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Speaker 6: Right, That technology exists in the real world.

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Speaker 2: Right.

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Speaker 1: You gave some great examples already, but I think people

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Speaker 1: just need to understand the differentiate too. Right, popchain is

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Speaker 1: going to exist and going to continue to exist in

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Speaker 1: all the things we do. Bitcoin a different thing, not

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Speaker 1: the same in the same sense. It's just that it

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Speaker 1: operates on it.

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Speaker 2: That's right.

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Speaker 3: Think of that highway metaphor, right, blockchains the highway Bitcoin is,

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Speaker 3: you know, one of the vehicles. Maybe it's a Cadillac

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Speaker 3: on that highway and old El Dorado because it's been

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Speaker 3: around for a long time, may be worth a lot

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Speaker 3: right now. But then there are faster cars, and then

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Speaker 3: there are cars that came out of nowhere, like a

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Speaker 3: doge coin really doesn't have anything backing it, but it's

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Speaker 3: kind of the fast car that speeds along the highway

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Speaker 3: and you're like, where did that go? So they're very different.

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Speaker 3: Blockchain is a very useful piece of technology. It's vast,

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Speaker 3: and it's in use already across the banking system. It's

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Speaker 3: very prevalent in the bond market, even in the stock

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Speaker 3: trading market. Blockchain is basically this massive digital infrastructure that

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Speaker 3: is being been built out for the past decade and

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Speaker 3: will be built out in through the next decade or two.

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Speaker 3: So the building of the blockchain is a very big deal.

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Speaker 3: Think of like the building of the American railroad. Think

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Speaker 3: about the building of the American Highway. This is what

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Speaker 3: blockchain is doing in the world of technology. And these

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Speaker 3: coins and these tokens and these dollar base coins, they

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Speaker 3: all trade on it, they all drive on it. You

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Speaker 3: need the blockchain for bitcoin to exist. If it weren't,

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Speaker 3: if the blockchain wasn't here, we would never have had

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Speaker 3: a bitcoin. So I'm giving you a massive list here

437
00:21:04,600 --> 00:21:07,000
Speaker 3: of a bunch of the cryptocurrencies, but there are literally

438
00:21:07,080 --> 00:21:09,119
Speaker 3: thousands of them. This is can look at it on

439
00:21:09,240 --> 00:21:11,760
Speaker 3: coin gecko dot com if you want. You can look

440
00:21:11,760 --> 00:21:14,720
Speaker 3: at all of the digital currencies that basically exist and

441
00:21:14,800 --> 00:21:16,960
Speaker 3: are trading right now. I just threw up thirty or

442
00:21:16,960 --> 00:21:19,000
Speaker 3: so of them. So because maybe you've seen a few

443
00:21:19,000 --> 00:21:21,399
Speaker 3: of them before, but Bitcoin rules the roost. It's the

444
00:21:21,440 --> 00:21:23,520
Speaker 3: biggest of them all. And then you have others like

445
00:21:23,560 --> 00:21:26,520
Speaker 3: ethereum and you have teather, and they all serve different purposes,

446
00:21:26,840 --> 00:21:29,719
Speaker 3: but Bitcoin's the big popular one that gets all the attention,

447
00:21:30,119 --> 00:21:32,199
Speaker 3: and it's got the biggest price tag. This is just

448
00:21:32,240 --> 00:21:33,800
Speaker 3: a way to look at a lot of the symbols

449
00:21:33,800 --> 00:21:35,800
Speaker 3: you may have seen before. I encourage you to do

450
00:21:35,840 --> 00:21:38,040
Speaker 3: your research on all of these, but we're going to

451
00:21:38,080 --> 00:21:41,040
Speaker 3: talk mostly about Bitcoin today because that's getting so much

452
00:21:41,080 --> 00:21:44,280
Speaker 3: of the attention. The thing about bitcoin, when it was

453
00:21:44,280 --> 00:21:48,400
Speaker 3: created by Satoshi Nakamoto, whoever that entity is, it has

454
00:21:48,440 --> 00:21:50,720
Speaker 3: a limited supply. If you go back and you read

455
00:21:50,760 --> 00:21:52,600
Speaker 3: that white paper, you read it on your own time.

456
00:21:53,000 --> 00:21:55,880
Speaker 3: The way that Satoshi whoever Satoshi was, set it up

457
00:21:55,920 --> 00:21:58,639
Speaker 3: was that there will only ever be twenty one million

458
00:21:58,640 --> 00:22:01,840
Speaker 3: bitcoins to be mine. And when I say mind, you

459
00:22:01,920 --> 00:22:04,520
Speaker 3: might be thinking of like gold mining, like literally going

460
00:22:04,600 --> 00:22:07,560
Speaker 3: underground and picks and shovels and digging into the earth

461
00:22:08,080 --> 00:22:11,320
Speaker 3: to extract gold. It's like that, but it's actually done

462
00:22:11,359 --> 00:22:13,960
Speaker 3: with software, and it's done with computing power, and it

463
00:22:14,000 --> 00:22:16,440
Speaker 3: takes a lot of energy. You may have heard stories

464
00:22:16,440 --> 00:22:19,120
Speaker 3: about how much it costs to have produced just one bitcoin.

465
00:22:19,200 --> 00:22:22,160
Speaker 3: In terms of energy, you could power a small city, right.

466
00:22:22,240 --> 00:22:23,880
Speaker 3: A lot of that's true, but it's getting a little

467
00:22:23,880 --> 00:22:28,280
Speaker 3: bit easier that the energy use is not as intense

468
00:22:28,280 --> 00:22:31,040
Speaker 3: as it used to be. But because there's only twenty

469
00:22:31,040 --> 00:22:34,359
Speaker 3: one million bitcoin that will ever be mined, that's a

470
00:22:34,440 --> 00:22:38,560
Speaker 3: limited supply, and that's one of the attractive features of bitcoin,

471
00:22:38,920 --> 00:22:41,040
Speaker 3: especially as we see it at these very high prices.

472
00:22:41,320 --> 00:22:44,440
Speaker 3: We're at about nineteen point eight million that have already

473
00:22:44,480 --> 00:22:46,919
Speaker 3: been mined. There are not that many more bitcoin to

474
00:22:46,960 --> 00:22:49,439
Speaker 3: be mine. The thing about bitcoin, though, because you have

475
00:22:49,520 --> 00:22:53,680
Speaker 3: to mine it solving a software equation or a math

476
00:22:53,720 --> 00:22:57,480
Speaker 3: equation with software, it gets harder and harder for programmers

477
00:22:57,520 --> 00:22:59,880
Speaker 3: to solve it. It takes a lot of computing power,

478
00:23:00,080 --> 00:23:01,760
Speaker 3: it takes a lot of smarts, and it takes a

479
00:23:01,760 --> 00:23:04,240
Speaker 3: lot of time. So as we get closer to twenty

480
00:23:04,240 --> 00:23:06,600
Speaker 3: one million and worried about nineteen point eight million, it

481
00:23:06,720 --> 00:23:09,200
Speaker 3: gets harder and harder to mind these things, which kind

482
00:23:09,240 --> 00:23:13,200
Speaker 3: of raises the value. Tighter supply, more difficult to produce.

483
00:23:13,640 --> 00:23:15,840
Speaker 3: That's helping boost the price, along with a bunch of

484
00:23:15,920 --> 00:23:20,240
Speaker 3: other factors. Right again, it's a supply demand issue. We're

485
00:23:20,280 --> 00:23:22,280
Speaker 3: here right now, and well we're here a little bit

486
00:23:22,280 --> 00:23:24,720
Speaker 3: further in twenty twenty four. Not that many more bitcoin

487
00:23:24,800 --> 00:23:27,000
Speaker 3: to be mined. A lot of it's already out there.

488
00:23:27,200 --> 00:23:29,239
Speaker 3: It's just more difficult to mind. And it has a

489
00:23:29,280 --> 00:23:32,000
Speaker 3: scarcity issue. When you have a scarce resource that a

490
00:23:32,000 --> 00:23:34,760
Speaker 3: lot of people are interested in, prices go up. I

491
00:23:34,760 --> 00:23:37,280
Speaker 3: don't care if we're talking about air Force ones. I

492
00:23:37,320 --> 00:23:39,400
Speaker 3: don't care if we're talking about, you know, a brand

493
00:23:39,440 --> 00:23:42,840
Speaker 3: new special iPhone. You know, scarcity of a product that

494
00:23:42,920 --> 00:23:46,200
Speaker 3: people want and are interested in always drives price. It's

495
00:23:46,240 --> 00:23:50,399
Speaker 3: supply demand and its mania and its hype, and bitcoin

496
00:23:50,480 --> 00:23:53,720
Speaker 3: has all of these aspects associated with it.

497
00:23:53,840 --> 00:23:54,040
Speaker 2: Right.

498
00:23:54,720 --> 00:23:58,480
Speaker 3: So, in terms of an asset something you can buy

499
00:23:58,600 --> 00:24:01,639
Speaker 3: and trade and invest in, well, bitcoin has ruled the

500
00:24:01,760 --> 00:24:05,520
Speaker 3: roost in the capital markets for the past ten years, really,

501
00:24:05,800 --> 00:24:07,720
Speaker 3: but in the past five years alone, just look at

502
00:24:07,760 --> 00:24:11,320
Speaker 3: the price appreciation of bitcoin. It just blows out all

503
00:24:11,359 --> 00:24:13,000
Speaker 3: these other things. I'm gonna read it if you can't

504
00:24:13,040 --> 00:24:15,320
Speaker 3: get if you can't see it close enough, Bitcoin's up

505
00:24:15,320 --> 00:24:17,760
Speaker 3: about one thousand, two hundred and ninety percent in the

506
00:24:17,800 --> 00:24:20,000
Speaker 3: past five years. Right, The s and P five hundred.

507
00:24:20,560 --> 00:24:23,760
Speaker 3: Our stock market, the five hundred biggest companies in America,

508
00:24:24,080 --> 00:24:26,800
Speaker 3: is up ninety one percent in the past five years. Guys,

509
00:24:26,840 --> 00:24:30,159
Speaker 3: that's outstanding, right, Those are great returns for stocks. But

510
00:24:30,200 --> 00:24:32,399
Speaker 3: when you look at bitcoin, it doesn't even compare the

511
00:24:32,480 --> 00:24:35,520
Speaker 3: Dow Jones industrials. They're not all industrials. That's up fifty

512
00:24:35,560 --> 00:24:38,199
Speaker 3: six percent. Gold and I use the ETF as the

513
00:24:38,240 --> 00:24:41,040
Speaker 3: proxy is up about seventy eight percent in the past

514
00:24:41,080 --> 00:24:43,760
Speaker 3: five years, and the dollar is up about ten percent.

515
00:24:44,080 --> 00:24:47,840
Speaker 3: So Bitcoin in terms of an investment, has returned a

516
00:24:47,880 --> 00:24:50,960
Speaker 3: lot more, generated a lot more what we call alpha

517
00:24:51,240 --> 00:24:54,119
Speaker 3: in our business because of this scarcity, because of the

518
00:24:54,240 --> 00:24:56,359
Speaker 3: interest in it, and a lot of that has come

519
00:24:57,000 --> 00:24:59,800
Speaker 3: in different waves. Rare Sean mentioned he first got introduced

520
00:24:59,840 --> 00:25:02,680
Speaker 3: to it in twenty sixteen. Twenty seventeen, bitcoin had already

521
00:25:02,720 --> 00:25:04,800
Speaker 3: been around. I remember back in twenty fourteen when it

522
00:25:04,840 --> 00:25:07,000
Speaker 3: was two bucks, and no, I didn't buy it because

523
00:25:07,000 --> 00:25:11,160
Speaker 3: I didn't understand it. But the more scarce it gets,

524
00:25:11,160 --> 00:25:13,800
Speaker 3: the more interest there is and the more adoption there

525
00:25:13,920 --> 00:25:18,800
Speaker 3: is by both investors like US, individual investors or institutional

526
00:25:18,840 --> 00:25:21,880
Speaker 3: investors like the fidelities of the world. The Black Rocks

527
00:25:21,920 --> 00:25:24,080
Speaker 3: of the world, the Goldman Sachses of the world, and

528
00:25:24,160 --> 00:25:27,200
Speaker 3: yes they're interested, and yes they're mining their own bitcoin. Well,

529
00:25:27,200 --> 00:25:29,560
Speaker 3: that's just going to drive price even higher. So in

530
00:25:29,600 --> 00:25:32,560
Speaker 3: the past five years it has blown out stocks by

531
00:25:32,600 --> 00:25:34,840
Speaker 3: a long shot. But let me take you back five

532
00:25:34,840 --> 00:25:37,840
Speaker 3: more years beyond that. Ten thousand dollars invested in bitcoin

533
00:25:37,880 --> 00:25:41,560
Speaker 3: ten years ago, that's where two point nine million dollars today.

534
00:25:41,800 --> 00:25:45,480
Speaker 3: Now we want to talk about fear missing out or

535
00:25:46,040 --> 00:25:48,359
Speaker 3: you know, I wish, you know, somebody would have told

536
00:25:48,400 --> 00:25:49,960
Speaker 3: me about this and I just would have put a thousand.

537
00:25:50,040 --> 00:25:52,520
Speaker 3: Well we can think about that. With everything. Bitcoin is

538
00:25:52,560 --> 00:25:56,040
Speaker 3: super unique, with returns like this ten thousand, ten years

539
00:25:56,080 --> 00:25:58,639
Speaker 3: ago worth two point nine million dollars today. We have

540
00:25:58,760 --> 00:26:01,520
Speaker 3: never seen anything like it in the capital markets. And

541
00:26:01,560 --> 00:26:04,320
Speaker 3: I've been doing this for a very long time, so

542
00:26:04,640 --> 00:26:07,359
Speaker 3: we can talk about why that's happened. But still, even

543
00:26:07,440 --> 00:26:12,800
Speaker 3: with that massive price appreciation, Bitcoin is still much bigger

544
00:26:12,880 --> 00:26:14,880
Speaker 3: than that. It's about a trillion and a half now,

545
00:26:15,040 --> 00:26:19,320
Speaker 3: but it's very small compared to the market capitalizations of

546
00:26:19,520 --> 00:26:23,960
Speaker 3: big assets that are already traded in our capital markets,

547
00:26:23,960 --> 00:26:26,760
Speaker 3: real estate being the biggest worldwide. The three hundred and

548
00:26:26,760 --> 00:26:29,720
Speaker 3: thirty trillion dollar market. Global debt, we're talking about the

549
00:26:29,720 --> 00:26:33,680
Speaker 3: bond market. Were talking about US debt, Chinese debt, Japanese debt,

550
00:26:33,720 --> 00:26:37,080
Speaker 3: European country debt. That's a three hundred and fifteen trillion

551
00:26:37,119 --> 00:26:41,800
Speaker 3: dollar market. FIAC currency we're talking about dollars, euros, YenS, Right,

552
00:26:42,200 --> 00:26:45,399
Speaker 3: that's one hundred and twenty trillion dollar market. Bitcoin is

553
00:26:45,440 --> 00:26:47,800
Speaker 3: a trillion and a half dollar market. It's come a

554
00:26:47,840 --> 00:26:51,000
Speaker 3: long way in fourteen years, but it is still a

555
00:26:51,119 --> 00:26:55,200
Speaker 3: very small asset class comparatively speaking, and given the hype

556
00:26:55,200 --> 00:26:58,680
Speaker 3: that it gets, barely anybody owns it, but the people

557
00:26:58,720 --> 00:27:01,520
Speaker 3: that own it own a lie of it, especially some

558
00:27:01,560 --> 00:27:03,440
Speaker 3: of the bigger companies. So we'll get into that in

559
00:27:03,480 --> 00:27:05,560
Speaker 3: a second. Just keep that in mind though, when when

560
00:27:05,600 --> 00:27:09,160
Speaker 3: Rashad mentioned that eighty five percent of people surveyed say

561
00:27:09,160 --> 00:27:11,800
Speaker 3: they don't own it, Well, you know, it's still pretty young,

562
00:27:11,920 --> 00:27:14,320
Speaker 3: and it's still pretty small, and it wasn't until like

563
00:27:14,400 --> 00:27:17,320
Speaker 3: the last year or two where it really became available

564
00:27:17,320 --> 00:27:20,119
Speaker 3: for us to put into our retirement accounts to buy

565
00:27:20,280 --> 00:27:22,920
Speaker 3: like an exchange traded fund, like we would buy exchange

566
00:27:22,960 --> 00:27:25,680
Speaker 3: traded fund that tracks the NASDAC. Right, it is still

567
00:27:25,760 --> 00:27:27,720
Speaker 3: kind of a I wouldn't call it a baby, but

568
00:27:27,760 --> 00:27:29,280
Speaker 3: I may call it like an eight year old or

569
00:27:29,400 --> 00:27:31,280
Speaker 3: like a fourteen year old, because that's actually what it.

570
00:27:31,200 --> 00:27:33,240
Speaker 5: Is, and that's what and that's why not to cut

571
00:27:33,320 --> 00:27:34,760
Speaker 5: you off, but that's why we wanted to have this.

572
00:27:34,880 --> 00:27:36,879
Speaker 5: It's like, you know, we talk about this stuff on

573
00:27:36,920 --> 00:27:39,000
Speaker 5: market Mondays all the time, and I.

574
00:27:38,920 --> 00:27:41,359
Speaker 4: Mean, you could just go out and just buy bigcoin.

575
00:27:41,119 --> 00:27:43,720
Speaker 5: XF people whatever you want, and that's fine, but I

576
00:27:43,720 --> 00:27:46,439
Speaker 5: feel like you, you know, being at eighty three percent

577
00:27:46,440 --> 00:27:48,960
Speaker 5: of people still have not invested in it. Most people

578
00:27:49,000 --> 00:27:50,800
Speaker 5: are still not educated in it. So you could just

579
00:27:50,880 --> 00:27:53,040
Speaker 5: buy something just because you know, we you say, like

580
00:27:53,080 --> 00:27:54,879
Speaker 5: this is a good buy, But like I said, this

581
00:27:55,000 --> 00:27:57,119
Speaker 5: is just to kind of give you education on it

582
00:27:57,160 --> 00:28:00,000
Speaker 5: because it's an asset class that most likely is only

583
00:28:00,040 --> 00:28:01,679
Speaker 5: going to get bigger. It's going to be here for

584
00:28:01,720 --> 00:28:03,760
Speaker 5: a long period of time. It's extremely complicated, and most

585
00:28:03,760 --> 00:28:06,080
Speaker 5: people don't understand it. They buy it, don't understand it.

586
00:28:06,080 --> 00:28:08,440
Speaker 5: So you should never invest in anything that you don't understand.

587
00:28:08,640 --> 00:28:10,520
Speaker 5: So the whole purpose of this is to give you

588
00:28:11,000 --> 00:28:13,360
Speaker 5: a real form of education, so you just have more

589
00:28:13,400 --> 00:28:16,120
Speaker 5: confidence in knowing what you're actually putting your money in too,

590
00:28:16,640 --> 00:28:21,639
Speaker 5: as opposed to just blindly just you know, throwing it

591
00:28:21,680 --> 00:28:24,199
Speaker 5: and not even knowing what you're actually doing. Right, So

592
00:28:24,520 --> 00:28:26,760
Speaker 5: that's the purpose of this. It's not to debate whether

593
00:28:27,080 --> 00:28:29,679
Speaker 5: XRP is better than Salana or not. It's to actually

594
00:28:29,680 --> 00:28:32,320
Speaker 5: just give you some education so you can have some

595
00:28:32,600 --> 00:28:38,080
Speaker 5: level of understanding that gives you more confidence. But then

596
00:28:38,080 --> 00:28:43,280
Speaker 5: that also just builds a more solid foundation going forward,

597
00:28:43,280 --> 00:28:46,160
Speaker 5: because like I said, you know you saw that chart.

598
00:28:46,880 --> 00:28:50,800
Speaker 5: It's still relatively early. That's the crazy part about it, right,

599
00:28:50,840 --> 00:28:53,800
Speaker 5: So it's not going anywhere, so you know, you don't

600
00:28:53,840 --> 00:28:56,560
Speaker 5: have to rush to just go out of your mind

601
00:28:56,600 --> 00:28:58,760
Speaker 5: and just put your life savings into like you know,

602
00:28:59,000 --> 00:29:01,720
Speaker 5: just take your time edge ducate yourself dollar cost average.

603
00:29:01,720 --> 00:29:04,280
Speaker 5: The same rules apply as the stock market. But you

604
00:29:04,320 --> 00:29:06,640
Speaker 5: know a lot of times people don't don't get that education.

605
00:29:07,280 --> 00:29:10,400
Speaker 5: So that's why this whole thing is just designed to

606
00:29:10,440 --> 00:29:13,480
Speaker 5: actually educate you. We're going to talk about the onboarding

607
00:29:13,520 --> 00:29:15,840
Speaker 5: process and stuff like that, but you know, first you

608
00:29:15,920 --> 00:29:21,520
Speaker 5: got to kind of know the history, the trajectory, the fundamentals.

609
00:29:22,040 --> 00:29:24,800
Speaker 5: This is how you you can you know, learn a

610
00:29:24,800 --> 00:29:25,200
Speaker 5: little bit.

611
00:29:26,160 --> 00:29:27,360
Speaker 1: I want to I want to go to one of

612
00:29:27,360 --> 00:29:30,520
Speaker 1: the slides that you brought up in the percentage increase

613
00:29:31,040 --> 00:29:33,240
Speaker 1: versus the S and P versus DOW. Which is interesting

614
00:29:33,600 --> 00:29:36,600
Speaker 1: because when you do the history, you said something very important,

615
00:29:36,680 --> 00:29:39,400
Speaker 1: this is being mine, and most people say, well, it's

616
00:29:39,440 --> 00:29:39,840
Speaker 1: being mine.

617
00:29:39,880 --> 00:29:41,320
Speaker 2: It takes a lot of energy.

618
00:29:41,800 --> 00:29:44,440
Speaker 1: That shouldn't sound unfamiliar to people who have been watching

619
00:29:44,440 --> 00:29:46,440
Speaker 1: market moneys and the files for the past five years,

620
00:29:46,600 --> 00:29:49,120
Speaker 1: because these things were being mined in what we call

621
00:29:49,360 --> 00:29:52,800
Speaker 1: data centers, right, and you know the efficiency that it

622
00:29:52,800 --> 00:29:55,720
Speaker 1: takes to have a data center when it comes to GPUs,

623
00:29:56,160 --> 00:30:00,800
Speaker 1: But that high computing was started because of bitcoin, right,

624
00:30:00,840 --> 00:30:04,600
Speaker 1: So when we're talking about the new technology of artificial intelligence,

625
00:30:04,960 --> 00:30:07,280
Speaker 1: this is very familiar in the same sense where it

626
00:30:07,360 --> 00:30:09,480
Speaker 1: was like we needed data centers, we need to have

627
00:30:09,600 --> 00:30:13,200
Speaker 1: them running at a high efficiency to do quantum compute

628
00:30:13,280 --> 00:30:14,600
Speaker 1: or advanced computing.

629
00:30:14,920 --> 00:30:16,880
Speaker 6: This sounds very similar to the day weare in right now.

630
00:30:16,800 --> 00:30:19,440
Speaker 1: When we see it Nvidia running, We saw a broadcom

631
00:30:19,440 --> 00:30:24,120
Speaker 1: today running because of the same things. AI predominantly inside

632
00:30:24,200 --> 00:30:27,360
Speaker 1: that data center segment. So these two things are running

633
00:30:27,400 --> 00:30:28,480
Speaker 1: powallel at the same time.

634
00:30:28,720 --> 00:30:31,320
Speaker 3: Yeah, and absolutely, and you know what stocks are doing

635
00:30:31,440 --> 00:30:35,360
Speaker 3: very well as bigcoin goes up power companies, energy companies

636
00:30:35,400 --> 00:30:39,600
Speaker 3: that are producing energy to power these data centers. Every

637
00:30:39,600 --> 00:30:41,400
Speaker 3: time you go on a flight right now, if you're

638
00:30:41,400 --> 00:30:43,360
Speaker 3: flying out of I don't care where you're flying in

639
00:30:43,600 --> 00:30:46,240
Speaker 3: the United States, you fly over a bunch of warehouses.

640
00:30:46,640 --> 00:30:48,520
Speaker 3: You see them all day, or you're driving on the

641
00:30:48,560 --> 00:30:50,640
Speaker 3: highway and all you see your warehouses. Well, half of

642
00:30:50,640 --> 00:30:54,320
Speaker 3: those are fulfillment centers for Amazon and Walmart and everybody

643
00:30:54,360 --> 00:30:55,960
Speaker 3: to get you your goods right away. The other half

644
00:30:56,000 --> 00:30:59,080
Speaker 3: are data centers full of super servers right that are

645
00:30:59,080 --> 00:31:02,480
Speaker 3: doing massive compute power, either to mind crypto or to

646
00:31:03,240 --> 00:31:06,960
Speaker 3: min ai used for AI computing purposes, to mind data

647
00:31:07,000 --> 00:31:08,120
Speaker 3: to sell us more things.

648
00:31:08,200 --> 00:31:08,440
Speaker 2: Right.

649
00:31:08,680 --> 00:31:12,240
Speaker 3: Data is the currency of the twenty first century. Bitcoin

650
00:31:12,720 --> 00:31:15,200
Speaker 3: is in that ecosystem, and so is the blockchain. The

651
00:31:15,200 --> 00:31:17,959
Speaker 3: blockchain is part of the railroad of that ecosystem. And

652
00:31:18,000 --> 00:31:21,640
Speaker 3: to Rashad's point, right, this is about knowing what you own.

653
00:31:22,000 --> 00:31:22,160
Speaker 2: Now.

654
00:31:22,200 --> 00:31:23,800
Speaker 3: You could buy it on a whim. You could buy

655
00:31:23,800 --> 00:31:25,400
Speaker 3: any of the coins I put up there on a whim.

656
00:31:25,400 --> 00:31:27,240
Speaker 3: You could have bought bitcoin a long time agoing to said,

657
00:31:27,240 --> 00:31:29,560
Speaker 3: I don't know, I'm gonna give it a whirl. But

658
00:31:29,600 --> 00:31:31,280
Speaker 3: it's always better to know what you own, so you

659
00:31:31,280 --> 00:31:33,320
Speaker 3: have a better understanding whether you want to keep owning

660
00:31:33,320 --> 00:31:35,920
Speaker 3: it or own more of it potentially, or when something

661
00:31:35,960 --> 00:31:38,120
Speaker 3: big happens, you have a better understanding of it. It makes

662
00:31:38,120 --> 00:31:40,600
Speaker 3: you a smarter investor and you could make better decisions

663
00:31:40,600 --> 00:31:42,480
Speaker 3: based on that. We can't tell you which one of

664
00:31:42,480 --> 00:31:44,040
Speaker 3: these is going to go up a thousand percent. I

665
00:31:44,080 --> 00:31:46,000
Speaker 3: wish we could. If we could, we probably wouldn't be

666
00:31:46,000 --> 00:31:48,120
Speaker 3: here right now. We would we'd be teaching you from

667
00:31:48,120 --> 00:31:50,240
Speaker 3: the yacht. But what's important is to know what you

668
00:31:50,320 --> 00:31:52,760
Speaker 3: own and understand this whole ecosystem and the history of it,

669
00:31:52,880 --> 00:31:54,760
Speaker 3: so when people start talking about it, you can be like,

670
00:31:54,920 --> 00:31:56,600
Speaker 3: I actually have a little bit more of an informed

671
00:31:56,640 --> 00:31:58,640
Speaker 3: opinion than that. Can we go back to some of

672
00:31:58,640 --> 00:32:00,400
Speaker 3: the companies that are using because I think this gets

673
00:32:00,400 --> 00:32:02,360
Speaker 3: into the use case, and then we'll talk about how

674
00:32:02,400 --> 00:32:04,360
Speaker 3: to get into it. If you're not into it yet

675
00:32:04,640 --> 00:32:06,120
Speaker 3: or you want to teach somebody else how to get

676
00:32:06,160 --> 00:32:07,400
Speaker 3: into it, let me see if I can get back

677
00:32:07,400 --> 00:32:10,880
Speaker 3: in there. All right, cool, So again, this is a

678
00:32:10,920 --> 00:32:14,240
Speaker 3: fourteen year old technology. The bitcoin has been around for

679
00:32:14,280 --> 00:32:16,840
Speaker 3: fourteen years. The blockchain has been being built for the

680
00:32:16,920 --> 00:32:20,240
Speaker 3: last couple of decades. But more and more financial institutions

681
00:32:20,240 --> 00:32:23,280
Speaker 3: and processes are been preparing for this future, and the

682
00:32:23,320 --> 00:32:27,880
Speaker 3: future is actually now right. PayPal is very involved in cryptocurrency.

683
00:32:27,920 --> 00:32:31,440
Speaker 3: You can pay people with cryptocurrencies through PayPal. Master Card

684
00:32:31,480 --> 00:32:35,880
Speaker 3: allows you to use some of your rewards to buy cryptocurrencies.

685
00:32:36,160 --> 00:32:39,400
Speaker 3: Blackrock the biggest money manager in the world right it's

686
00:32:39,400 --> 00:32:44,360
Speaker 3: got thirteen trillion dollars. It is offering bitcoin exchange traded

687
00:32:44,360 --> 00:32:49,480
Speaker 3: funds and ways to access bitcoin and other cryptocurrencies through trust. Obviously,

688
00:32:49,480 --> 00:32:52,920
Speaker 3: Square the payment platform, is in there. Fidelity Investments, one

689
00:32:52,960 --> 00:32:57,480
Speaker 3: of the most stodgy sort of money financial managers in

690
00:32:57,560 --> 00:32:59,720
Speaker 3: the world that's been around for the last one hundred

691
00:32:59,720 --> 00:33:02,480
Speaker 3: odd years. They've been mining their own bitcoin for the

692
00:33:02,480 --> 00:33:05,160
Speaker 3: past ten years. Abigail Johnson, the woman who runs that firm,

693
00:33:05,320 --> 00:33:08,239
Speaker 3: is fascinated with this technology and the Fidelity is offering it.

694
00:33:08,480 --> 00:33:11,000
Speaker 3: And BNY Mellon, which used to be the Bank of

695
00:33:11,040 --> 00:33:14,560
Speaker 3: New York, the bank that Alexander Hamilton founded quite two

696
00:33:14,640 --> 00:33:17,440
Speaker 3: hundred plus years ago, they're into bitcoin too. So this

697
00:33:17,520 --> 00:33:20,400
Speaker 3: is not like it's maybe happening. It's happening today. The

698
00:33:20,440 --> 00:33:22,960
Speaker 3: biggest financial firms in the world are using it. The

699
00:33:23,000 --> 00:33:25,320
Speaker 3: biggest payment firms in the world are using it. But

700
00:33:25,320 --> 00:33:27,880
Speaker 3: what can you actually buy with it today? Besides turning

701
00:33:27,880 --> 00:33:30,720
Speaker 3: it into fia. What can you buy with cryptocurrency, Well,

702
00:33:30,880 --> 00:33:32,560
Speaker 3: you can go out on a limb in some places

703
00:33:32,560 --> 00:33:36,160
Speaker 3: and buy some property that's priced in bitcoin. The price

704
00:33:36,160 --> 00:33:38,760
Speaker 3: of bitcoin changes very frequently, so you got to watch

705
00:33:38,800 --> 00:33:42,360
Speaker 3: those prices. But there are some brokers in places outside

706
00:33:42,400 --> 00:33:44,520
Speaker 3: the US mostly that'll allow you to buy in bitcoin.

707
00:33:44,760 --> 00:33:47,840
Speaker 3: Some of these retailers will allow you to use bitcoin

708
00:33:47,920 --> 00:33:51,560
Speaker 3: or cryptocurrencies like Ethereum to buy gift cards, and some

709
00:33:51,640 --> 00:33:55,320
Speaker 3: of these retailers will allow you to place orders using cryptocurrency.

710
00:33:55,880 --> 00:33:57,880
Speaker 3: Uber Eats will let you do it in some cases.

711
00:33:57,920 --> 00:34:01,120
Speaker 3: In some cities, game stops been accepting it for a while.

712
00:34:01,200 --> 00:34:03,080
Speaker 3: Right it is out there and it's in use, But

713
00:34:03,160 --> 00:34:05,480
Speaker 3: you're not going to go to Burger King or Carvel

714
00:34:05,560 --> 00:34:09,120
Speaker 3: if you will and go with bitcoin right now, it's

715
00:34:09,239 --> 00:34:12,920
Speaker 3: just not that widely held. But Ethereum, which is another

716
00:34:13,000 --> 00:34:15,960
Speaker 3: type of cryptocurrency, a smart coin, we call it. You

717
00:34:15,960 --> 00:34:19,440
Speaker 3: could go buy non fungible tokens like the pudgy penguins

718
00:34:19,680 --> 00:34:21,879
Speaker 3: down there. Those are like ten grand each. I don't

719
00:34:21,880 --> 00:34:24,600
Speaker 3: know why those are non fungible tokens. These are art

720
00:34:24,760 --> 00:34:27,600
Speaker 3: that exists in a unique way on the blockchain. There's

721
00:34:27,640 --> 00:34:30,320
Speaker 3: only one of one of these, and that's another aspect

722
00:34:30,680 --> 00:34:35,560
Speaker 3: of the blockchain universe. So you can't buy a pizza necessarily,

723
00:34:35,560 --> 00:34:37,640
Speaker 3: except maybe one or two pizza parlors, and at the

724
00:34:37,680 --> 00:34:40,560
Speaker 3: Dallas Maverick Stadium they'll allow you to use doge coin

725
00:34:40,600 --> 00:34:43,520
Speaker 3: to buy a pizza. But in general, there are very

726
00:34:43,520 --> 00:34:46,960
Speaker 3: few places that accept it as a means of exchange

727
00:34:47,080 --> 00:34:51,280
Speaker 3: right now, but there are growing. But if you wanted

728
00:34:51,320 --> 00:34:54,160
Speaker 3: to get into it and you wanted to own some cryptocurrency,

729
00:34:54,440 --> 00:34:56,480
Speaker 3: the first thing you have to do to trade it,

730
00:34:56,520 --> 00:34:58,960
Speaker 3: to buy it, to sell it, to give it to somebody,

731
00:34:58,960 --> 00:35:02,839
Speaker 3: to accept it as a gift is to have a wallet. Right,

732
00:35:03,120 --> 00:35:06,319
Speaker 3: you need a digital place for this cryptocurrency to go.

733
00:35:06,400 --> 00:35:08,960
Speaker 3: Nobody's going to hand you a stack of bitcoin. There

734
00:35:09,000 --> 00:35:13,160
Speaker 3: is no bitcoin, right, it's just digital technology. It's a

735
00:35:13,200 --> 00:35:16,359
Speaker 3: software problem. So you need either a cold wallet, which

736
00:35:16,440 --> 00:35:19,759
Speaker 3: really looks just like a hard you know, a what

737
00:35:19,760 --> 00:35:24,439
Speaker 3: do you call those thumb drive even fancier. That's called

738
00:35:24,440 --> 00:35:26,920
Speaker 3: a cold wallet, or you can buy or you can

739
00:35:26,960 --> 00:35:29,560
Speaker 3: have a wallet on an exchange kind of like you

740
00:35:29,600 --> 00:35:32,759
Speaker 3: do with your cash app or your bank app. Right,

741
00:35:32,920 --> 00:35:35,400
Speaker 3: that's called a hot wallet that lives on the internet.

742
00:35:35,600 --> 00:35:37,880
Speaker 3: And if you open an account with a coinbase or

743
00:35:37,920 --> 00:35:40,560
Speaker 3: a crypto dot com or a crack in or any

744
00:35:40,560 --> 00:35:42,279
Speaker 3: of them, you're going to be opening what's called a

745
00:35:42,320 --> 00:35:44,839
Speaker 3: hot wallet a little less secure because it's on the

746
00:35:44,840 --> 00:35:46,880
Speaker 3: internet and all kinds of things happen on the internet

747
00:35:46,880 --> 00:35:50,000
Speaker 3: with hacking. But a cold wallet is sort of an

748
00:35:50,000 --> 00:35:52,799
Speaker 3: off site storage. Right, you have your own passcode for that.

749
00:35:52,880 --> 00:35:55,680
Speaker 3: You have that one thumb drive that has all your

750
00:35:56,000 --> 00:35:58,279
Speaker 3: cryptocurrency in it. You better not lose it. And we've

751
00:35:58,280 --> 00:36:01,200
Speaker 3: heard stories about people losing their thumb driver for getting

752
00:36:01,200 --> 00:36:04,239
Speaker 3: the password and losing millions or billions of dollars worth

753
00:36:04,280 --> 00:36:07,040
Speaker 3: of it. That happens, that's real, But it's your choice.

754
00:36:07,280 --> 00:36:12,560
Speaker 5: Questions on this guy's Yeah, the onboarding for Americans, you

755
00:36:12,600 --> 00:36:15,439
Speaker 5: got to go through like coin base, and you could

756
00:36:15,440 --> 00:36:20,319
Speaker 5: take it off of it. But that's important because when

757
00:36:20,320 --> 00:36:23,359
Speaker 5: you buy the crypto, like let's say you use coin

758
00:36:23,400 --> 00:36:25,200
Speaker 5: Base for example, because of the thing that's probably like

759
00:36:25,239 --> 00:36:29,319
Speaker 5: the most recognizable exchange, you do have the option to

760
00:36:29,440 --> 00:36:33,799
Speaker 5: just leave it on coin Base. In that regard, coin

761
00:36:33,880 --> 00:36:37,279
Speaker 5: Base is kind of like the custodian of your actual bitcoin, right,

762
00:36:38,000 --> 00:36:46,719
Speaker 5: which leads to problems, could lead to problems. You have

763
00:36:46,800 --> 00:36:49,720
Speaker 5: the option of buying it and then taking it off

764
00:36:49,920 --> 00:36:56,040
Speaker 5: right and then using the wallets. Right now, this is

765
00:36:56,040 --> 00:37:03,640
Speaker 5: important because, like you said, if you if anything happens

766
00:37:03,680 --> 00:37:07,600
Speaker 5: to that right, let's say he's using the cold wallet and.

767
00:37:08,239 --> 00:37:10,040
Speaker 4: You lose your you lose it.

768
00:37:11,640 --> 00:37:16,320
Speaker 5: There's there like when you buy a stock, there's federal

769
00:37:16,360 --> 00:37:23,720
Speaker 5: regulations and there's oversight and these companies you you don't

770
00:37:23,960 --> 00:37:28,520
Speaker 5: just say like I'm done, right, that doesn't exist in

771
00:37:28,560 --> 00:37:31,120
Speaker 5: the world of crypto. So if you have five million

772
00:37:31,160 --> 00:37:35,280
Speaker 5: dollars on your co wallet and you go to Turfs

773
00:37:35,280 --> 00:37:37,520
Speaker 5: and Keko's and you bring it with you, or you

774
00:37:37,560 --> 00:37:41,279
Speaker 5: don't bring it with you, and you're cleaner comes in

775
00:37:41,560 --> 00:37:47,440
Speaker 5: and thinks that it's a USB drive and throws it away,

776
00:37:48,120 --> 00:37:50,600
Speaker 5: there's no recourse to get the five million dollars back.

777
00:37:50,719 --> 00:37:53,319
Speaker 4: There's no one eight hundred, there's no one number that.

778
00:37:53,440 --> 00:37:57,879
Speaker 3: One hundred bitcoin. Where's my bitcoin? And that's a big deal.

779
00:37:57,960 --> 00:37:58,160
Speaker 2: Right.

780
00:37:58,200 --> 00:38:01,160
Speaker 3: When we say unregulated, you mean there's no sheriff in

781
00:38:01,200 --> 00:38:04,040
Speaker 3: town here, right. And we've heard of these big crypto

782
00:38:04,480 --> 00:38:07,960
Speaker 3: platforms like finance where they've had fraud or where there

783
00:38:08,040 --> 00:38:11,839
Speaker 3: was you know, bad dealings and millions were lost. Some

784
00:38:11,920 --> 00:38:14,319
Speaker 3: of that can get recovered because you can trace the

785
00:38:14,480 --> 00:38:17,319
Speaker 3: digital sort of footprint of some of these things. But

786
00:38:17,400 --> 00:38:21,360
Speaker 3: there is no securities in Exchange Commission right now, and

787
00:38:21,400 --> 00:38:23,160
Speaker 3: there might be in a couple of months that is

788
00:38:23,280 --> 00:38:27,320
Speaker 3: overseeing crypto. There is no SIPC like there is in

789
00:38:27,440 --> 00:38:30,319
Speaker 3: stocks where that your your investments are being protected up

790
00:38:30,360 --> 00:38:33,239
Speaker 3: to a certain amount. There's no FDIC like there is

791
00:38:33,239 --> 00:38:34,960
Speaker 3: at your bank that protects up to two hundred and

792
00:38:34,960 --> 00:38:37,360
Speaker 3: fifty thousand dollars of your money in the bank should

793
00:38:37,360 --> 00:38:39,640
Speaker 3: something happen to the bank right there is.

794
00:38:39,680 --> 00:38:40,880
Speaker 4: No in phraze.

795
00:38:41,120 --> 00:38:44,160
Speaker 5: I think the phrase is like twenty four letters like

796
00:38:44,200 --> 00:38:46,400
Speaker 5: that one.

797
00:38:46,440 --> 00:38:48,440
Speaker 3: Touch a phrase. Yeah, I'll show you what one looks like.

798
00:38:48,480 --> 00:38:48,960
Speaker 3: It's crazy.

799
00:38:49,840 --> 00:38:52,120
Speaker 1: This is important and it's a word of the wise,

800
00:38:52,200 --> 00:38:54,120
Speaker 1: especially if you're going to use a code whilet that

801
00:38:54,280 --> 00:38:57,920
Speaker 1: seed phrase can be twenty to twenty four words. Make

802
00:38:57,960 --> 00:38:59,759
Speaker 1: sure that you store that, make sure that you never

803
00:38:59,800 --> 00:39:01,880
Speaker 1: lose that, because you won't be able to get inside

804
00:39:01,920 --> 00:39:05,359
Speaker 1: that cold wallet. But here's something that people need to know.

805
00:39:05,520 --> 00:39:08,120
Speaker 1: If you're going to purchase a cold wallet.

806
00:39:08,080 --> 00:39:12,360
Speaker 6: Number one, Please purchase it from the direct company.

807
00:39:12,960 --> 00:39:14,440
Speaker 2: Right. So a lot of times you'll.

808
00:39:14,320 --> 00:39:16,480
Speaker 1: Go on Amazon, or you might go on Momart and

809
00:39:16,520 --> 00:39:18,480
Speaker 1: you'll say, hey, there's a cold wallet and I need

810
00:39:18,520 --> 00:39:20,880
Speaker 1: it next day shipping. The problem is you don't know

811
00:39:20,880 --> 00:39:24,000
Speaker 1: where that cold wallet came from, and sometimes somebody has

812
00:39:24,080 --> 00:39:27,319
Speaker 1: used it. They've are ready created the seed phrase, and

813
00:39:27,400 --> 00:39:31,080
Speaker 1: you get it, you upload all your assets, and in

814
00:39:31,120 --> 00:39:33,600
Speaker 1: a day you can't get back in because it's been

815
00:39:33,600 --> 00:39:36,920
Speaker 1: hot wired already. Has that happened before, Yes, that happens

816
00:39:36,960 --> 00:39:39,680
Speaker 1: to people. And so to alleviate that, what you want

817
00:39:39,719 --> 00:39:41,600
Speaker 1: to do is get it. I see a bunch of

818
00:39:41,600 --> 00:39:44,000
Speaker 1: people put in get it directly from Ledger, get it

819
00:39:44,040 --> 00:39:47,879
Speaker 1: direct directly from trays or there's a reason why they're

820
00:39:47,880 --> 00:39:50,359
Speaker 1: saying that, because that is a questionary tale that can

821
00:39:50,400 --> 00:39:54,719
Speaker 1: happen to people. It's a new space, right, it's unregulated

822
00:39:54,719 --> 00:39:56,080
Speaker 1: in this sense, and so you want to make sure

823
00:39:56,120 --> 00:39:59,040
Speaker 1: you take every proportion and every step is possible.

824
00:39:59,239 --> 00:40:01,080
Speaker 6: That seed phrase again, I would store it.

825
00:40:01,120 --> 00:40:03,759
Speaker 1: I would put it in a safe just so that

826
00:40:03,840 --> 00:40:06,800
Speaker 1: you know that it's there and if anything ever happens,

827
00:40:06,800 --> 00:40:09,880
Speaker 1: you know where to get it from. Because again, beyond

828
00:40:09,960 --> 00:40:12,839
Speaker 1: losing it. If you lose that phrase, you can't get

829
00:40:12,840 --> 00:40:13,120
Speaker 1: back in.

830
00:40:13,920 --> 00:40:16,520
Speaker 3: Once it's gone, it's gone, right, And again there is

831
00:40:16,560 --> 00:40:19,000
Speaker 3: no sheriff in town, at least not yet. And that's

832
00:40:19,080 --> 00:40:22,360
Speaker 3: kind of the point of cryptocurrency. It is supposed to

833
00:40:22,440 --> 00:40:26,160
Speaker 3: be unregulated. Bitcoin was designed to be unregulated. But we

834
00:40:26,200 --> 00:40:30,040
Speaker 3: can all see transactions, we can see where it happened,

835
00:40:30,080 --> 00:40:32,960
Speaker 3: where it happened. If somebody steals bitcoin. You always hear

836
00:40:33,000 --> 00:40:36,000
Speaker 3: about people you know, stealing X amount of million in bitcoin.

837
00:40:36,160 --> 00:40:38,680
Speaker 3: You can really track trace them down because they leave

838
00:40:38,719 --> 00:40:41,680
Speaker 3: a digital footprint. But if you lose your pass code

839
00:40:41,719 --> 00:40:43,919
Speaker 3: or you lose your cold wallet, it is gone.

840
00:40:44,680 --> 00:40:47,560
Speaker 4: Or if you send it to the wrong address. So

841
00:40:47,640 --> 00:40:48,239
Speaker 4: that's what you say.

842
00:40:48,600 --> 00:40:50,640
Speaker 5: Somebody said, like, how do you Let's say, if you

843
00:40:50,640 --> 00:40:52,680
Speaker 5: buy it on coin base, you have you have an address,

844
00:40:53,160 --> 00:40:55,920
Speaker 5: and then you send it to another address. So if

845
00:40:55,960 --> 00:40:57,600
Speaker 5: you send it to another if you sing it, if

846
00:40:57,640 --> 00:41:00,439
Speaker 5: you send it to the wrong address, if you miss

847
00:41:00,440 --> 00:41:05,240
Speaker 5: a letter, you're done. And that's happened to me before.

848
00:41:05,560 --> 00:41:07,799
Speaker 5: So everything that I'm speaking on it happened the first

849
00:41:07,800 --> 00:41:10,200
Speaker 5: hand experience. So the Chase thing, when I went to

850
00:41:10,280 --> 00:41:14,160
Speaker 5: Chase two years ago, and Coinbase and they were saying

851
00:41:14,200 --> 00:41:23,120
Speaker 5: that so many people were coming into Chase Bank trying

852
00:41:23,120 --> 00:41:26,280
Speaker 5: to retrieve money because their coin based account got hacked.

853
00:41:26,440 --> 00:41:29,000
Speaker 5: That didn't make that wasn't on national news or anything

854
00:41:29,040 --> 00:41:31,319
Speaker 5: like that. But this is this is people. This is

855
00:41:31,320 --> 00:41:37,440
Speaker 5: the banker telling me firsthand, like how rampant coinbase hacks

856
00:41:37,600 --> 00:41:41,400
Speaker 5: was people customers, How many customers was actually coming in

857
00:41:42,360 --> 00:41:45,440
Speaker 5: saying that their coin Base got hacked and as a

858
00:41:45,480 --> 00:41:50,440
Speaker 5: result their bank account was compromised, And that happens like that,

859
00:41:50,480 --> 00:41:52,359
Speaker 5: It's not a fairy tale like it really happens. So

860
00:41:52,600 --> 00:41:55,440
Speaker 5: the security aspect is something that's definitely real. I mean,

861
00:41:55,480 --> 00:41:57,000
Speaker 5: you can choose to do whatever you want. You can

862
00:41:57,120 --> 00:41:58,960
Speaker 5: leave it on Coinbase, you can leave it on you

863
00:41:58,960 --> 00:42:01,640
Speaker 5: can buy Robinhood, you can transfer it to your own

864
00:42:01,640 --> 00:42:05,360
Speaker 5: personal wallet. But no matter, no matter what you do,

865
00:42:05,440 --> 00:42:08,080
Speaker 5: there is some level of security that you should just

866
00:42:08,080 --> 00:42:08,520
Speaker 5: be aware of.

867
00:42:09,320 --> 00:42:11,880
Speaker 3: And it's on you. It's on you the older.

868
00:42:12,000 --> 00:42:12,239
Speaker 2: Right.

869
00:42:12,320 --> 00:42:15,040
Speaker 3: This is again you went to Chase because maybe their

870
00:42:15,120 --> 00:42:17,400
Speaker 3: Chase account was linked to their coin Base account. But

871
00:42:17,480 --> 00:42:19,399
Speaker 3: I'm sure Chase was like, we can't help you. Right,

872
00:42:20,040 --> 00:42:23,160
Speaker 3: Coinbase is not ours. But if you are setting up

873
00:42:23,239 --> 00:42:26,560
Speaker 3: a wallet and I use Coinbase here for the first time.

874
00:42:26,600 --> 00:42:29,280
Speaker 3: If you're opening an account and setting up a hot

875
00:42:29,320 --> 00:42:32,000
Speaker 3: wallet on a Coinbase, it's as simple as signing up

876
00:42:32,000 --> 00:42:34,680
Speaker 3: for basically any app you've ever signed up for, or

877
00:42:34,680 --> 00:42:36,520
Speaker 3: if you're signing up for the gym, or if you're

878
00:42:36,560 --> 00:42:39,439
Speaker 3: signing up for a you know, online banking, the app

879
00:42:39,480 --> 00:42:42,040
Speaker 3: for your bank, City Chase, whatever it is, it looks

880
00:42:42,280 --> 00:42:42,719
Speaker 3: just like it.

881
00:42:42,840 --> 00:42:42,960
Speaker 4: Right.

882
00:42:43,000 --> 00:42:46,520
Speaker 3: You pick your username, you pick your password, you back

883
00:42:46,600 --> 00:42:49,839
Speaker 3: up your wallet. As Rashad just mentioned, you protect your

884
00:42:49,880 --> 00:42:54,440
Speaker 3: wallet with a double factor factor authentification face IDA. That

885
00:42:54,440 --> 00:42:57,160
Speaker 3: could be an extra text. This is all about setting

886
00:42:57,239 --> 00:43:00,320
Speaker 3: up as secure hot wallet, so it has per cocted

887
00:43:00,360 --> 00:43:02,640
Speaker 3: as possible, and that's what you need to do as

888
00:43:02,680 --> 00:43:05,319
Speaker 3: soon as you want to get involved in start your

889
00:43:05,480 --> 00:43:06,880
Speaker 3: and start your investing journey.

890
00:43:07,200 --> 00:43:07,399
Speaker 2: Right.

891
00:43:07,719 --> 00:43:10,120
Speaker 3: And then when you start using these apps, and I

892
00:43:10,160 --> 00:43:12,680
Speaker 3: went from Coinbase, there A to crypto dot Com just

893
00:43:12,680 --> 00:43:14,959
Speaker 3: to give you a different flavor, because guess what, they're

894
00:43:14,960 --> 00:43:17,880
Speaker 3: all kind of the same. Once you start wanting to

895
00:43:17,920 --> 00:43:22,080
Speaker 3: make transactions on these platforms again, they look just like

896
00:43:22,160 --> 00:43:25,320
Speaker 3: sports betting sites, they look just like regular online trading

897
00:43:25,360 --> 00:43:28,839
Speaker 3: sites or banking online banking sites. You are basically looking

898
00:43:28,920 --> 00:43:30,680
Speaker 3: at a watch list of the things you might own,

899
00:43:31,000 --> 00:43:34,400
Speaker 3: and then you're deciding whether to buy, sell, deposit money

900
00:43:34,440 --> 00:43:36,880
Speaker 3: into your account, which would come from your bank account,

901
00:43:36,880 --> 00:43:41,400
Speaker 3: your fiat fiata dollars Fiat you fund your crypto account

902
00:43:41,480 --> 00:43:44,440
Speaker 3: with real dollars. That's where that you know, these two

903
00:43:44,520 --> 00:43:48,480
Speaker 3: things come clash, right, and then you just transact. You

904
00:43:48,520 --> 00:43:50,960
Speaker 3: make transactions. You can buy, you can sell, you can

905
00:43:51,040 --> 00:43:52,719
Speaker 3: buy with limit orders. And I'll show you what it

906
00:43:52,719 --> 00:43:55,000
Speaker 3: looks like. I actually did it today for you guys.

907
00:43:55,000 --> 00:43:57,080
Speaker 3: You got me so inspired. I went out and bought

908
00:43:57,120 --> 00:44:00,800
Speaker 3: some bitcoin, and I set a limit order for some bitcoin.

909
00:44:00,920 --> 00:44:02,520
Speaker 3: If it ever falls to seventy five, I'm want to

910
00:44:02,560 --> 00:44:04,640
Speaker 3: buy some more. So let me show you how I

911
00:44:04,680 --> 00:44:08,360
Speaker 3: did that. First screen here, this is my coin base account.

912
00:44:08,440 --> 00:44:10,440
Speaker 3: I wanted to buy one hundred dollars a bitcoin. I

913
00:44:10,440 --> 00:44:12,680
Speaker 3: looked at it on my watch list. Then it asked

914
00:44:12,719 --> 00:44:15,120
Speaker 3: me what kind of order, just like I would if

915
00:44:15,160 --> 00:44:17,880
Speaker 3: I was buying a stock on schwab dot com. Is

916
00:44:17,920 --> 00:44:19,680
Speaker 3: this a one time order or do I want to

917
00:44:19,680 --> 00:44:23,720
Speaker 3: buy every month on a recurring basis dollar cost averaging

918
00:44:23,719 --> 00:44:26,319
Speaker 3: as Rashad mentioned, or is this a limit order? I

919
00:44:26,320 --> 00:44:29,120
Speaker 3: only want to buy bitcoin if it hits a certain price.

920
00:44:29,200 --> 00:44:31,479
Speaker 3: The screen on the right is that seventy five dollars price.

921
00:44:31,560 --> 00:44:33,120
Speaker 3: I'd like to buy some bitcoin if it goes down

922
00:44:33,160 --> 00:44:34,759
Speaker 3: to seventy five because I think it's going to go

923
00:44:34,760 --> 00:44:37,880
Speaker 3: back up again. If it does or again a recurring

924
00:44:37,880 --> 00:44:40,479
Speaker 3: buy and my dollar cost averaging in. Then I set

925
00:44:40,520 --> 00:44:43,279
Speaker 3: my order. I'm paying with my checking account. There's my

926
00:44:43,280 --> 00:44:46,919
Speaker 3: Schwab checking account. Hopefully the numbers not there anymore. They'll

927
00:44:46,920 --> 00:44:49,440
Speaker 3: only let me buy five thousand dollars worth in a day.

928
00:44:49,480 --> 00:44:51,279
Speaker 3: They set a limit for me, thank you very much,

929
00:44:52,360 --> 00:44:54,480
Speaker 3: and then I review my order if I'm happy with it,

930
00:44:54,560 --> 00:44:57,280
Speaker 3: and look, I don't have to buy Bitcoin is trading

931
00:44:57,320 --> 00:45:00,319
Speaker 3: near one hundred thousand dollars per bitcoin. Just like docs,

932
00:45:00,360 --> 00:45:03,880
Speaker 3: you can buy fractional or dollar amounts of any cryptocurrency.

933
00:45:04,400 --> 00:45:06,480
Speaker 3: You don't have to buy the full price tag of it.

934
00:45:06,920 --> 00:45:09,279
Speaker 3: So if I'm buying one hundred dollars worth of bitcoin today,

935
00:45:09,320 --> 00:45:13,120
Speaker 3: I'm buying point zero zero zero zero nine five four

936
00:45:13,239 --> 00:45:16,440
Speaker 3: three seven bitcoin right a fraction of a fraction of

937
00:45:16,440 --> 00:45:22,560
Speaker 3: a fraction. The smallest, most possible tenious denomination of bitcoin

938
00:45:23,040 --> 00:45:26,319
Speaker 3: is called a toshi. A satoshi like a penny, so

939
00:45:26,440 --> 00:45:28,600
Speaker 3: cute but I'm with one hundred bucks. I'm buying just

940
00:45:28,640 --> 00:45:31,200
Speaker 3: a very fractional amount. But that's the whole thing. I

941
00:45:31,200 --> 00:45:32,960
Speaker 3: don't have to afford one hundred thousand dollars to buy

942
00:45:32,960 --> 00:45:34,759
Speaker 3: bitcoin today. I just want to buy a little bit

943
00:45:34,760 --> 00:45:36,480
Speaker 3: every month because I want to keep owning it. And

944
00:45:36,520 --> 00:45:38,600
Speaker 3: that's kind of the way I operate as an investor.

945
00:45:38,880 --> 00:45:41,040
Speaker 3: I pick five or six coins and tokens that I

946
00:45:41,120 --> 00:45:43,680
Speaker 3: understand where I think I know what's going on. And

947
00:45:43,719 --> 00:45:46,360
Speaker 3: by the way, I don't really understand the way the

948
00:45:46,360 --> 00:45:49,240
Speaker 3: business works, because there is no business behind these coins.

949
00:45:49,239 --> 00:45:52,080
Speaker 3: It's mostly belief. But I understand what their purpose is

950
00:45:52,120 --> 00:45:54,200
Speaker 3: and could be I buy the same five, and I

951
00:45:54,239 --> 00:45:56,080
Speaker 3: buy the same five and the same amount every month.

952
00:45:56,200 --> 00:45:58,279
Speaker 3: If it price drops a lot, maybe I'll buy a

953
00:45:58,320 --> 00:46:01,400
Speaker 3: little bit more. But I set up curring buys for myself,

954
00:46:01,600 --> 00:46:03,520
Speaker 3: and sometimes I set limit orders if I want to

955
00:46:03,520 --> 00:46:05,560
Speaker 3: buy it at a cheaper price. But it looks just

956
00:46:05,680 --> 00:46:08,359
Speaker 3: like any online broker you've used before, just like your

957
00:46:08,360 --> 00:46:11,279
Speaker 3: bank account, right. But there are a ton of risk

958
00:46:11,360 --> 00:46:14,400
Speaker 3: factors in investing in crypto. Rashaw just mentioned. Troy mentioned

959
00:46:14,400 --> 00:46:16,400
Speaker 3: a couple of them. One of those is losing your

960
00:46:16,400 --> 00:46:19,080
Speaker 3: password or having your account hacked, and that happens all

961
00:46:19,080 --> 00:46:23,440
Speaker 3: the time. But also these are super volatile assets. When

962
00:46:23,480 --> 00:46:26,720
Speaker 3: I say volatile, we're talking about extreme data.

963
00:46:26,880 --> 00:46:27,080
Speaker 2: Right.

964
00:46:27,400 --> 00:46:31,480
Speaker 3: They prices gyrate on these things for no rhyme or reason.

965
00:46:31,520 --> 00:46:34,160
Speaker 3: It's not like you can look inside these coins and say, oh,

966
00:46:34,200 --> 00:46:37,160
Speaker 3: they had a bad quarter. These coins don't sell anything,

967
00:46:37,560 --> 00:46:40,760
Speaker 3: or the CEO left. Some of these coins have no CEO.

968
00:46:40,960 --> 00:46:45,560
Speaker 3: Most of them don't, right, Or there's you know, the

969
00:46:45,640 --> 00:46:47,920
Speaker 3: economic windsor shifting and all of a sudden, this is

970
00:46:47,960 --> 00:46:51,160
Speaker 3: not working anymore. It's not fundamental like that. It's really

971
00:46:51,200 --> 00:46:53,880
Speaker 3: based on belief. And that's a big thing you have

972
00:46:53,960 --> 00:46:56,960
Speaker 3: to accept if you're going to own cryptocurrencies, whether it's

973
00:46:57,200 --> 00:47:00,160
Speaker 3: tokens or coins, you have to understand that a lot

974
00:47:00,200 --> 00:47:02,359
Speaker 3: of this is based on belief. And we can talk

975
00:47:02,360 --> 00:47:05,560
Speaker 3: about that more in a minute. He talked about hacking, right.

976
00:47:05,920 --> 00:47:10,160
Speaker 3: And we also, you know, although some financial institutions are

977
00:47:10,239 --> 00:47:13,200
Speaker 3: allowing you to invest in it and even transact in

978
00:47:13,200 --> 00:47:17,439
Speaker 3: some cases, it's not accepted by the federal banking institutions,

979
00:47:18,080 --> 00:47:20,279
Speaker 3: by the Federal Reserve, at least not yet. And I

980
00:47:20,320 --> 00:47:22,960
Speaker 3: put the word yet there because we have a new

981
00:47:23,000 --> 00:47:27,080
Speaker 3: presidential administration coming in and President elect Trump has promised

982
00:47:27,080 --> 00:47:29,960
Speaker 3: to make America the crypto capital of the world. He said,

983
00:47:29,960 --> 00:47:33,080
Speaker 3: the United States will mine its own cryptocurrency. It will

984
00:47:33,120 --> 00:47:36,360
Speaker 3: never sell or hotal hold on for dear life forever

985
00:47:36,600 --> 00:47:39,359
Speaker 3: to the cryptocurrencies that are already in our treasury that

986
00:47:39,400 --> 00:47:42,840
Speaker 3: the United States Treasury got from arresting people that hacked

987
00:47:42,880 --> 00:47:45,840
Speaker 3: into other people's accounts. Right, it may happen that it

988
00:47:45,880 --> 00:47:49,879
Speaker 3: becomes regulated, which would be antithetical. But another huge risk,

989
00:47:49,920 --> 00:47:52,000
Speaker 3: and I bolleted it for a reason, is that there

990
00:47:52,080 --> 00:47:56,480
Speaker 3: is an intense amount of ownership concentration, especially in bitcoin.

991
00:47:56,800 --> 00:48:01,319
Speaker 3: A very few institutions, groups and individuals own most of it.

992
00:48:01,600 --> 00:48:05,719
Speaker 3: And should they decide to sell at any point, well

993
00:48:05,719 --> 00:48:08,080
Speaker 3: that could really drop the price a lot. And that's

994
00:48:08,080 --> 00:48:11,880
Speaker 3: a very big and important factor, not just in cryptocurrency

995
00:48:11,880 --> 00:48:14,040
Speaker 3: and any security. But you want to make sure you

996
00:48:14,120 --> 00:48:16,560
Speaker 3: understand this. Well, it's got these things going for it.

997
00:48:16,560 --> 00:48:18,680
Speaker 3: It's got a really tight supply bitcoin, right, I told

998
00:48:18,719 --> 00:48:21,200
Speaker 3: you only twenty one million will ever be created. It's

999
00:48:21,200 --> 00:48:23,160
Speaker 3: got a lot of demand and a lot of hype.

1000
00:48:23,680 --> 00:48:25,640
Speaker 3: It costs more and more to produce it. It gets more

1001
00:48:25,719 --> 00:48:29,560
Speaker 3: expensive and timely to produce it's got competitors now, but

1002
00:48:29,640 --> 00:48:32,719
Speaker 3: it is, you know, the king of the hill. Up

1003
00:48:32,800 --> 00:48:35,800
Speaker 3: until now, the sec has not really been that friendly

1004
00:48:35,800 --> 00:48:38,399
Speaker 3: to it. The Securities and Exchange Commission the top cop

1005
00:48:38,440 --> 00:48:40,040
Speaker 3: on Wall Street. But we got a new Securities and

1006
00:48:40,080 --> 00:48:43,400
Speaker 3: Exchange commissioner coming in with the Trump administration. He sounds

1007
00:48:43,400 --> 00:48:46,680
Speaker 3: more friendly. But bitcoin gets a ton of media coverage,

1008
00:48:46,840 --> 00:48:49,480
Speaker 3: a ton of media coverage for as small as it is,

1009
00:48:49,520 --> 00:48:53,160
Speaker 3: and all these things affect its price. Okay, I talked

1010
00:48:53,160 --> 00:48:57,120
Speaker 3: about the fact that it's heavily concentrated and that you know,

1011
00:48:57,360 --> 00:49:00,200
Speaker 3: just a few entities own most of it. When you

1012
00:49:00,239 --> 00:49:04,160
Speaker 3: have this heavily of a concentration in an asset, anything

1013
00:49:04,200 --> 00:49:06,600
Speaker 3: can happen. The price spikes a lot. Why, Oh, because

1014
00:49:06,640 --> 00:49:09,200
Speaker 3: one or more of these entities decided they wanted to

1015
00:49:09,239 --> 00:49:12,000
Speaker 3: buy more of it. Oh the price drop? What happened? Well,

1016
00:49:12,000 --> 00:49:14,319
Speaker 3: some of these entities decided that they didn't want as

1017
00:49:14,400 --> 00:49:18,000
Speaker 3: much of it anymore. They can really impact supply demand

1018
00:49:18,320 --> 00:49:22,440
Speaker 3: and ultimately price. And as an individual investor or somebody

1019
00:49:22,440 --> 00:49:24,640
Speaker 3: who's trying to trade these or hold these or buying

1020
00:49:24,719 --> 00:49:27,080
Speaker 3: for my kids for the long term, I have zero

1021
00:49:27,200 --> 00:49:30,160
Speaker 3: control over that, and not a ton of visibility. But

1022
00:49:30,200 --> 00:49:33,200
Speaker 3: when you look at who holds the most bitcoin coinbase,

1023
00:49:33,320 --> 00:49:36,520
Speaker 3: that's us individual investors that are buying an our own

1024
00:49:36,560 --> 00:49:40,880
Speaker 3: accounts Satoshi whoever that is. It's an entity and mysterious entity,

1025
00:49:40,920 --> 00:49:43,080
Speaker 3: but they do have a digital signature, so we know

1026
00:49:43,120 --> 00:49:45,120
Speaker 3: it's out there, we just can't track the person down.

1027
00:49:46,040 --> 00:49:49,080
Speaker 3: Finance Blackrock the biggest money manager in the world. This

1028
00:49:49,160 --> 00:49:52,640
Speaker 3: company here, micro Strategy. This is a publicly traded stock

1029
00:49:53,200 --> 00:49:57,680
Speaker 3: that used to be in the you know, making equipment

1030
00:49:57,719 --> 00:50:00,399
Speaker 3: for servers, right it used to be in the AI

1031
00:50:00,520 --> 00:50:03,560
Speaker 3: intelligence business, but it's changed its business completely and for

1032
00:50:03,560 --> 00:50:06,360
Speaker 3: the past five years it's CEO Michael Saylor. All he

1033
00:50:06,400 --> 00:50:09,120
Speaker 3: wants to do is collect bitcoin and basically it's a

1034
00:50:09,120 --> 00:50:12,120
Speaker 3: bitcoin treasury and one of the best performing stocks this year.

1035
00:50:12,840 --> 00:50:15,760
Speaker 1: It is the interesting thing about this this truck, Caleb

1036
00:50:15,880 --> 00:50:18,920
Speaker 1: I know it says as of November twenty four, election happened,

1037
00:50:18,960 --> 00:50:20,000
Speaker 1: we saw bitcoin run.

1038
00:50:20,920 --> 00:50:23,360
Speaker 6: Black Rock has actually increased their ownership.

1039
00:50:23,400 --> 00:50:26,400
Speaker 1: They now have over five hundred and twenty eight thousand bitcoins,

1040
00:50:26,400 --> 00:50:29,160
Speaker 1: so you're about the largest treasury of money from the

1041
00:50:29,239 --> 00:50:32,760
Speaker 1: institutional They're seeing a value in it. Whereas before maybe

1042
00:50:32,800 --> 00:50:34,760
Speaker 1: five years ago, this truck would.

1043
00:50:34,640 --> 00:50:35,359
Speaker 2: Look nothing like this.

1044
00:50:35,680 --> 00:50:38,160
Speaker 3: Absolutely not absolutely that's important.

1045
00:50:38,200 --> 00:50:41,840
Speaker 5: Like I said, it's not We're agnostic about the situation.

1046
00:50:42,040 --> 00:50:46,120
Speaker 5: So just give you the information. It's not not debatable facts,

1047
00:50:48,280 --> 00:50:53,719
Speaker 5: just so you can be informed. Bitcoin is held by

1048
00:50:54,680 --> 00:51:01,160
Speaker 5: institutions for the most part. That's not something that is debatable.

1049
00:51:01,680 --> 00:51:02,680
Speaker 4: That's an actual fact.

1050
00:51:03,480 --> 00:51:05,440
Speaker 5: Now it could be a good thing because you can say, okay, well,

1051
00:51:05,480 --> 00:51:08,319
Speaker 5: if if black Rock owns this much and they're not

1052
00:51:08,320 --> 00:51:11,319
Speaker 5: gonna they're very intelligent people, right, they're not gonna own

1053
00:51:11,360 --> 00:51:13,239
Speaker 5: something that's not gonna go up in value. That's a

1054
00:51:13,280 --> 00:51:14,640
Speaker 5: sign that that's going to go up in value. That's

1055
00:51:14,640 --> 00:51:16,520
Speaker 5: a sign that you know it's going to be even

1056
00:51:16,560 --> 00:51:19,640
Speaker 5: safer going forward. Or you can look at it and say, well,

1057
00:51:19,680 --> 00:51:21,920
Speaker 5: if they own this much, then they're going to control everything,

1058
00:51:21,960 --> 00:51:23,719
Speaker 5: and it kind of goes against the whole principles of

1059
00:51:23,760 --> 00:51:26,279
Speaker 5: it being decentralized and d D and the small guys

1060
00:51:26,280 --> 00:51:29,359
Speaker 5: that will win. But this is this is the world

1061
00:51:29,440 --> 00:51:30,760
Speaker 5: does not work on fairy tales.

1062
00:51:31,239 --> 00:51:32,040
Speaker 4: The rich run it.

1063
00:51:32,160 --> 00:51:36,160
Speaker 5: The rich have always run the world, right, There's never

1064
00:51:36,200 --> 00:51:39,000
Speaker 5: been a time in human history since money was created

1065
00:51:39,000 --> 00:51:41,480
Speaker 5: that the rich didn't run the world. And they run

1066
00:51:41,520 --> 00:51:44,000
Speaker 5: and they run the current. They run cryptocurrency, they own

1067
00:51:44,040 --> 00:51:45,719
Speaker 5: the most of it, they control the price, and they

1068
00:51:45,760 --> 00:51:47,920
Speaker 5: run it. That's just important for you to know. So

1069
00:51:49,120 --> 00:51:52,799
Speaker 5: it's not like this utopia that some people think that

1070
00:51:52,880 --> 00:51:57,759
Speaker 5: it is. That's just not the case. And I have

1071
00:51:57,800 --> 00:52:00,480
Speaker 5: a strong suspicion that they can still get because even

1072
00:52:01,440 --> 00:52:04,680
Speaker 5: you know, in the Middle East when October seventh happened,

1073
00:52:05,600 --> 00:52:10,640
Speaker 5: they got the Hamas's crypto, so bitcoin. So I don't

1074
00:52:10,640 --> 00:52:13,160
Speaker 5: know how they got don I don't know how they

1075
00:52:13,200 --> 00:52:18,120
Speaker 5: did that, but that lets me know that if they

1076
00:52:18,160 --> 00:52:19,960
Speaker 5: want to get your crypto, they're going to get your crypto.

1077
00:52:20,280 --> 00:52:22,400
Speaker 5: That's just my own personal opinion that might not be

1078
00:52:22,440 --> 00:52:24,720
Speaker 5: an actual fact, but the fact that they actually got

1079
00:52:25,160 --> 00:52:30,080
Speaker 5: their their their bitcoin so quickly, I just think that

1080
00:52:30,160 --> 00:52:33,000
Speaker 5: they have some level of intelligence that if foot.

1081
00:52:32,760 --> 00:52:36,799
Speaker 2: Prints, yeah, it's it's all on the ledger.

1082
00:52:37,120 --> 00:52:39,359
Speaker 3: It's all on the ledger. Now if you they can

1083
00:52:39,400 --> 00:52:42,040
Speaker 3: do some digital sleuthing to find out who's who on

1084
00:52:42,120 --> 00:52:44,239
Speaker 3: that ledger, and that's probably how they got it. But

1085
00:52:44,640 --> 00:52:46,480
Speaker 3: let me just show, uh, go back to that chart

1086
00:52:46,520 --> 00:52:49,760
Speaker 3: real quick if we can, or is I presenting gotcha? Okay,

1087
00:52:49,880 --> 00:52:52,759
Speaker 3: so you see they're the US government number seven. It

1088
00:52:52,760 --> 00:52:55,920
Speaker 3: owns two hundred and thirteen thousand bitcoin at a value. Well,

1089
00:52:56,040 --> 00:52:58,799
Speaker 3: now the value is probably twenty five billion dollars. But

1090
00:52:59,320 --> 00:53:03,839
Speaker 3: where did it get it's bitcoin? Right, Well, it's not

1091
00:53:03,920 --> 00:53:07,239
Speaker 3: like the Treasury and Jenny Yellen was out there scooping bitcoin, right,

1092
00:53:07,560 --> 00:53:10,000
Speaker 3: and it definitely wasn't happening in the administration before that.

1093
00:53:10,280 --> 00:53:12,440
Speaker 3: What is it from. It's from the seizure of assets

1094
00:53:12,840 --> 00:53:16,839
Speaker 3: from criminal activity that the Treasury keeps in its treasury. Right,

1095
00:53:17,520 --> 00:53:20,640
Speaker 3: So the United States owns bitcoin and Trump President elect

1096
00:53:20,640 --> 00:53:23,920
Speaker 3: Trump said they'll never sell it. Now he's catering to

1097
00:53:24,000 --> 00:53:26,799
Speaker 3: the bitcoin crowd. It helped get him elected. But we

1098
00:53:26,880 --> 00:53:29,000
Speaker 3: do have quite a bit of bitcoin in our treasury,

1099
00:53:29,000 --> 00:53:30,400
Speaker 3: and if we're going to mine our own, there's going

1100
00:53:30,480 --> 00:53:32,239
Speaker 3: to be a lot more. And to your point, wher shot,

1101
00:53:32,520 --> 00:53:35,440
Speaker 3: it's antithetical to the way that bitcoin was created by

1102
00:53:35,440 --> 00:53:38,640
Speaker 3: Satoshi Nakamoor, whoever that was, right, It was never supposed

1103
00:53:38,680 --> 00:53:41,839
Speaker 3: to be this, But it's gone capitalist real quick. Why

1104
00:53:42,160 --> 00:53:45,000
Speaker 3: because there's value in it. And once there's value in something,

1105
00:53:45,840 --> 00:53:47,960
Speaker 3: here come the sharks, right. And if you want to

1106
00:53:48,200 --> 00:53:50,880
Speaker 3: swim with the sharks as a pilot fish or a

1107
00:53:50,920 --> 00:53:53,520
Speaker 3: fish behind the pilot fish and make some of that

1108
00:53:53,560 --> 00:53:55,440
Speaker 3: money too, and invest in it and learn about it.

1109
00:53:55,600 --> 00:53:57,600
Speaker 3: You can do that, or you can just say that's

1110
00:53:57,640 --> 00:53:59,759
Speaker 3: just capitalism run amuck. I don't want any part of it.

1111
00:54:00,040 --> 00:54:02,760
Speaker 3: But I assume if you're watching this you're interested in it.

1112
00:54:03,080 --> 00:54:04,880
Speaker 3: Just move on to the next slide real quick. Anyway,

1113
00:54:05,000 --> 00:54:05,560
Speaker 3: there's more.

1114
00:54:06,200 --> 00:54:07,200
Speaker 2: We're going to call them the whales.

1115
00:54:07,520 --> 00:54:10,720
Speaker 3: Yeah, they're whales. There are the whales. Right, Chinese government

1116
00:54:10,719 --> 00:54:14,160
Speaker 3: has a ton of bitcoin fidelity. Look, these are big companies, right,

1117
00:54:15,160 --> 00:54:17,560
Speaker 3: Robinhood has a lot, but that is held for clients

1118
00:54:17,719 --> 00:54:21,120
Speaker 3: like us, right, So so we do individuals do have

1119
00:54:21,160 --> 00:54:22,960
Speaker 3: it now in terms of where it's legal. And I

1120
00:54:22,960 --> 00:54:24,880
Speaker 3: borrowed this great chart from how much dot Net. They

1121
00:54:24,880 --> 00:54:27,719
Speaker 3: do some great work. This is a pretty acurate It

1122
00:54:27,800 --> 00:54:30,080
Speaker 3: might need to be updated a little bit, but you know,

1123
00:54:30,120 --> 00:54:33,799
Speaker 3: it's pretty legal to own it and to transact in

1124
00:54:33,840 --> 00:54:36,520
Speaker 3: it and to invest in it around the world. And

1125
00:54:36,560 --> 00:54:38,120
Speaker 3: a lot of countries are way out in front of

1126
00:54:38,120 --> 00:54:40,759
Speaker 3: the United States on this. Mongolia is big on it.

1127
00:54:40,800 --> 00:54:43,279
Speaker 3: El Salvador may try to make it. It's you know,

1128
00:54:43,400 --> 00:54:46,120
Speaker 3: it's it's fiat currency. That didn't work out very well

1129
00:54:46,160 --> 00:54:47,920
Speaker 3: because when they started it. I think Bitcoin was at

1130
00:54:47,960 --> 00:54:50,560
Speaker 3: forty thousand, then it went to like eighteen thousand, so

1131
00:54:50,600 --> 00:54:53,880
Speaker 3: that didn't work. But you see, it's these green you know,

1132
00:54:53,920 --> 00:54:56,760
Speaker 3: the green shoots are places where it's legal to transact

1133
00:54:56,840 --> 00:54:59,279
Speaker 3: in it. China wants no part of it, Russia wants

1134
00:54:59,320 --> 00:55:01,440
Speaker 3: no part of it all the the Chinese government owns

1135
00:55:01,440 --> 00:55:03,200
Speaker 3: a lot of it that it has seized its own

1136
00:55:03,239 --> 00:55:06,320
Speaker 3: way as well, So that's where it's legal around the world. Now.

1137
00:55:07,160 --> 00:55:10,160
Speaker 3: If you're thinking about opening an account right and you

1138
00:55:10,200 --> 00:55:11,640
Speaker 3: don't know where to do it or how to do it,

1139
00:55:11,640 --> 00:55:13,520
Speaker 3: and you don't want to buy a heart that you know,

1140
00:55:13,560 --> 00:55:16,120
Speaker 3: the thumb drive and set it up that way because

1141
00:55:16,160 --> 00:55:18,239
Speaker 3: it seems scary and complicated. You don' want anybody to

1142
00:55:18,280 --> 00:55:20,000
Speaker 3: steal it, or you don't want your housekeeper to throw

1143
00:55:20,000 --> 00:55:22,120
Speaker 3: it away. And you're thinking about an exchange, there are

1144
00:55:22,120 --> 00:55:24,480
Speaker 3: plenty of exchanges that would love to do business with you.

1145
00:55:24,560 --> 00:55:26,120
Speaker 3: We have that. I want you to scan the code

1146
00:55:26,120 --> 00:55:28,759
Speaker 3: if you're interested in looking at this. We do a

1147
00:55:28,880 --> 00:55:31,560
Speaker 3: very critical review of all of the crypto the major

1148
00:55:31,560 --> 00:55:34,479
Speaker 3: crypto exchanges to see which ones are best for who.

1149
00:55:34,800 --> 00:55:36,319
Speaker 3: And if you want to look at our reviews, they're

1150
00:55:36,320 --> 00:55:38,880
Speaker 3: written by our own editors who are crypto traders and

1151
00:55:38,920 --> 00:55:42,160
Speaker 3: investors themselves, and we have the best for various types

1152
00:55:42,719 --> 00:55:45,040
Speaker 3: of investors or traders. If you're a if you're a

1153
00:55:45,040 --> 00:55:47,200
Speaker 3: hardcore trader, you might want something with a little more

1154
00:55:47,239 --> 00:55:51,719
Speaker 3: horsepower cracking is that one for sure. But if you

1155
00:55:51,760 --> 00:55:53,880
Speaker 3: just want to open an account and start collecting it,

1156
00:55:53,960 --> 00:55:56,279
Speaker 3: start investing it, start learning about it, all of these

1157
00:55:56,320 --> 00:56:00,719
Speaker 3: are fine. Crypto dot Com is good, right, coin Coinbase

1158
00:56:00,840 --> 00:56:04,359
Speaker 3: is good right if you're looking at even cash app

1159
00:56:04,360 --> 00:56:06,840
Speaker 3: will allow you to have a Bitcoin account there. Robinhood

1160
00:56:06,840 --> 00:56:08,880
Speaker 3: allows you to have Bitcoin accounts and you can access

1161
00:56:08,880 --> 00:56:11,920
Speaker 3: bitcoin if you have an existing account with Fidelity or

1162
00:56:11,960 --> 00:56:15,280
Speaker 3: Schwab through exchange trade of funds that we'll talk about

1163
00:56:15,440 --> 00:56:18,040
Speaker 3: in a quick second here. So we talked about volatility before.

1164
00:56:18,200 --> 00:56:19,880
Speaker 3: This chart's old. I need to update or have my

1165
00:56:19,880 --> 00:56:22,080
Speaker 3: team update it. But you've got to have a pretty

1166
00:56:22,080 --> 00:56:25,799
Speaker 3: strong stomach to invest in bitcoin. And people will tell

1167
00:56:25,840 --> 00:56:28,520
Speaker 3: you that they know why bitcoin fell from you know

1168
00:56:28,560 --> 00:56:32,279
Speaker 3: whatever that was twelve hundred down to nine hundred in

1169
00:56:32,480 --> 00:56:36,120
Speaker 3: twenty fifteen, but they really don't know. Somebody didn't want

1170
00:56:36,160 --> 00:56:38,440
Speaker 3: it anymore, right, it's the greater fool theory. It's whatever

1171
00:56:38,480 --> 00:56:41,080
Speaker 3: the next person thinks it's worth and if enough people

1172
00:56:41,080 --> 00:56:42,880
Speaker 3: think it's worth a lot, then it's going to be

1173
00:56:43,120 --> 00:56:44,719
Speaker 3: it's going to keep going up. Then why did it

1174
00:56:44,719 --> 00:56:48,120
Speaker 3: spike to twenty seventeen to twenty thousand, Well that was

1175
00:56:48,160 --> 00:56:50,600
Speaker 3: after the Trump tax cuts, so it became a little

1176
00:56:50,640 --> 00:56:53,920
Speaker 3: bit easier on the capitol gains front to own risky assets.

1177
00:56:54,080 --> 00:56:55,840
Speaker 3: Maybe that had something to do with it, Maybe not,

1178
00:56:56,000 --> 00:56:58,359
Speaker 3: because it was going up from twenty fourteen, what interest

1179
00:56:58,440 --> 00:57:00,600
Speaker 3: rates were really low. So again, and it doesn't have

1180
00:57:00,640 --> 00:57:03,520
Speaker 3: the fundamentals of a stock. It has technicals. You can

1181
00:57:03,560 --> 00:57:06,279
Speaker 3: look at patterns and how it trades, but you can't

1182
00:57:06,280 --> 00:57:08,480
Speaker 3: really open up the hood and say, what's wrong with

1183
00:57:08,520 --> 00:57:10,560
Speaker 3: the marketing department They're not doing a good enough job

1184
00:57:10,600 --> 00:57:13,320
Speaker 3: advertising the product, or what's up with the gross profit margins.

1185
00:57:13,480 --> 00:57:16,640
Speaker 3: It's not that type of thing. Just make sure that

1186
00:57:16,720 --> 00:57:18,720
Speaker 3: you know, you've got to have a strong stomach and

1187
00:57:18,760 --> 00:57:22,200
Speaker 3: know that bitcoin and all the cryptocurrencies are super volaile. Ope,

1188
00:57:22,480 --> 00:57:24,080
Speaker 3: I didn't get to update this one. But why has

1189
00:57:24,120 --> 00:57:26,720
Speaker 3: it been rallying since the election? Well, as I said,

1190
00:57:26,760 --> 00:57:30,040
Speaker 3: Trump promised that we would be mining your own bitcoin

1191
00:57:30,040 --> 00:57:32,080
Speaker 3: and he would make America the bitcoin capital of the world.

1192
00:57:32,120 --> 00:57:37,360
Speaker 3: But I wanted to talk about exchange traded funds.

1193
00:57:37,440 --> 00:57:37,640
Speaker 2: Right.

1194
00:57:38,600 --> 00:57:41,720
Speaker 3: Some of the biggest money managers in the world in

1195
00:57:41,840 --> 00:57:44,560
Speaker 3: twenty twenty four, in the beginning of this year started

1196
00:57:44,640 --> 00:57:47,200
Speaker 3: offering what we call exchange traded funds ETFs. You can

1197
00:57:47,240 --> 00:57:49,840
Speaker 3: buy them for stocks, you can buy them for bonds,

1198
00:57:49,840 --> 00:57:51,880
Speaker 3: you can buy them for commodities. But the fact that

1199
00:57:51,920 --> 00:57:55,680
Speaker 3: we can buy what we call spot bitcoin ETFs. These

1200
00:57:55,680 --> 00:57:59,120
Speaker 3: are spot bitcoin ETFs right now and put it right

1201
00:57:59,160 --> 00:58:01,600
Speaker 3: next to my mutual fund or right next to my

1202
00:58:02,200 --> 00:58:05,640
Speaker 3: QQQ ETF and my four oh one K is a

1203
00:58:05,760 --> 00:58:08,680
Speaker 3: very big deal. Now, if you own these ETFs, these

1204
00:58:08,720 --> 00:58:12,120
Speaker 3: exchange traded funds, which are baskets of securities, you don't

1205
00:58:12,160 --> 00:58:16,120
Speaker 3: actually own bitcoin. You own an exchange traded fund that

1206
00:58:16,200 --> 00:58:18,680
Speaker 3: tracks the price of bitcoin. And here's a list of

1207
00:58:18,720 --> 00:58:22,080
Speaker 3: the biggest ones by assets under management. When we talk

1208
00:58:22,120 --> 00:58:25,560
Speaker 3: about exchange traded funds, you don't just go pick one

1209
00:58:25,600 --> 00:58:27,240
Speaker 3: off the shelf. You want to look at the ones

1210
00:58:27,280 --> 00:58:30,560
Speaker 3: that have the most assets under management, the most liquidity,

1211
00:58:30,560 --> 00:58:33,560
Speaker 3: the most money running through them, a track record. They

1212
00:58:33,560 --> 00:58:36,080
Speaker 3: didn't just get here, that are part of a reputable

1213
00:58:36,120 --> 00:58:39,480
Speaker 3: firm that has had good success launching these ETFs and

1214
00:58:39,560 --> 00:58:41,720
Speaker 3: a management team that you don't think is going to

1215
00:58:41,760 --> 00:58:45,200
Speaker 3: disappear into the Cayman Islands when things get weird, right,

1216
00:58:45,360 --> 00:58:47,120
Speaker 3: So I put a list here, but you could look

1217
00:58:47,120 --> 00:58:49,840
Speaker 3: at the top bitcoin ETFs. Again, you won't own the

1218
00:58:50,400 --> 00:58:54,080
Speaker 3: cryptocurrency itself. You will own an exchange traded fund that

1219
00:58:54,160 --> 00:58:58,160
Speaker 3: tracks the price of that cryptocurrency. And that's super important

1220
00:58:58,400 --> 00:59:01,200
Speaker 3: if you don't want to own an Jane's traded fund.

1221
00:59:01,360 --> 00:59:04,000
Speaker 3: If you don't want to own the cryptocurrency itself, and

1222
00:59:04,040 --> 00:59:06,120
Speaker 3: you want to own stocks that are sort of tracking

1223
00:59:06,200 --> 00:59:08,840
Speaker 3: this whole ecosystem, well here's a list of them. I

1224
00:59:08,840 --> 00:59:12,320
Speaker 3: mentioned micro Strategy, the biggest Bitcoin owner out there. It's

1225
00:59:12,360 --> 00:59:16,000
Speaker 3: basically a treasury for bitcoin. That stock is up two

1226
00:59:16,360 --> 00:59:20,160
Speaker 3: percent in the last three months. Canaan dot Io makes

1227
00:59:20,320 --> 00:59:23,880
Speaker 3: a lot of the technology for mining cryptocurrency, high powered

1228
00:59:23,920 --> 00:59:27,960
Speaker 3: fans and computer equipment that stocks up one hundred and

1229
00:59:28,040 --> 00:59:30,520
Speaker 3: ninety six percent in the past few months. Coinbase itself

1230
00:59:30,600 --> 00:59:33,640
Speaker 3: is a publicly traded company and it's a broker. That

1231
00:59:33,760 --> 00:59:35,959
Speaker 3: stock's doing great, up ninety one percent in the past

1232
00:59:36,000 --> 00:59:41,600
Speaker 3: few months. Riot Platforms makes equipment for blockchain, for the

1233
00:59:41,600 --> 00:59:44,440
Speaker 3: development of blockchain and then bitcoin you can look at

1234
00:59:44,440 --> 00:59:46,840
Speaker 3: bitcoin's price itself, up seventy six percent in the last

1235
00:59:46,840 --> 00:59:49,880
Speaker 3: three months of fifty percent since the election because we

1236
00:59:49,960 --> 00:59:52,800
Speaker 3: have a much more friendly administration coming in and a

1237
00:59:52,840 --> 00:59:56,040
Speaker 3: new SEC chairman who actually likes bitcoin. So that's one

1238
00:59:56,040 --> 00:59:58,080
Speaker 3: ways to do it now. And when it comes to taxes,

1239
00:59:58,600 --> 01:00:01,760
Speaker 3: think of crypto in your account like a stock.

1240
01:00:02,280 --> 01:00:02,520
Speaker 2: Right.

1241
01:00:02,640 --> 01:00:04,840
Speaker 3: If you make a profit on that stock and sell

1242
01:00:04,880 --> 01:00:06,959
Speaker 3: it and you have held it for less than a year,

1243
01:00:07,280 --> 01:00:09,200
Speaker 3: it is short term capital gains and you will be

1244
01:00:09,280 --> 01:00:11,600
Speaker 3: taxed at whatever your short term capital gains rate is

1245
01:00:11,640 --> 01:00:14,720
Speaker 3: based on your marginal income. If you've held it more

1246
01:00:14,760 --> 01:00:17,280
Speaker 3: than a year, it's taxed at a long term capital gains.

1247
01:00:17,280 --> 01:00:19,160
Speaker 3: But if you haven't done your taxes this year, or

1248
01:00:19,160 --> 01:00:20,880
Speaker 3: if you've been doing your own taxes for the past

1249
01:00:20,880 --> 01:00:24,400
Speaker 3: few years, the first thing they ask you after your name,

1250
01:00:24,800 --> 01:00:28,360
Speaker 3: after your filing status is if you own digital assets. Now,

1251
01:00:29,120 --> 01:00:31,080
Speaker 3: this tells you that this asset has come a very

1252
01:00:31,160 --> 01:00:33,439
Speaker 3: long way. If the IRS is asking you that out

1253
01:00:33,480 --> 01:00:36,120
Speaker 3: of the gate, right, that's the first question. The real

1254
01:00:36,200 --> 01:00:39,080
Speaker 3: question they ask you did you receive as a reward

1255
01:00:39,280 --> 01:00:42,440
Speaker 3: or payment or property for services by sell, exchange or

1256
01:00:42,440 --> 01:00:46,920
Speaker 3: otherwise dispose of a digital asset for a financial interest.

1257
01:00:47,080 --> 01:00:49,600
Speaker 3: See instructions yes or no. If you put yes, then

1258
01:00:49,600 --> 01:00:51,520
Speaker 3: you were saying I made a profit on the sale

1259
01:00:51,560 --> 01:00:53,400
Speaker 3: of my bitcoin. You're going to have to file that

1260
01:00:53,480 --> 01:00:56,120
Speaker 3: as a capital gains. It is a taxable asset. Even

1261
01:00:56,160 --> 01:00:59,240
Speaker 3: though it is unregulated. The IRS is regulating it. They

1262
01:00:59,240 --> 01:01:02,120
Speaker 3: have their You one more thing about keeping your crypto

1263
01:01:02,160 --> 01:01:05,840
Speaker 3: safe and secure. If you're opening a cold wallet, Troy

1264
01:01:05,880 --> 01:01:09,280
Speaker 3: mentioned that phrase right, keep your seed phrase confidential. These

1265
01:01:09,280 --> 01:01:12,160
Speaker 3: are multi digit phrases. Right, write it down, put it

1266
01:01:12,160 --> 01:01:14,560
Speaker 3: in a safe maybe send a copy to your mom,

1267
01:01:15,200 --> 01:01:19,000
Speaker 3: but don't distribute it widely. Store it away from your device.

1268
01:01:19,040 --> 01:01:21,400
Speaker 3: You don't want the thumb drive and the piece of

1269
01:01:21,440 --> 01:01:23,240
Speaker 3: paper with your password next to each other.

1270
01:01:23,560 --> 01:01:23,880
Speaker 4: Ever.

1271
01:01:24,440 --> 01:01:27,240
Speaker 3: Use two factor on authentication. If you're using a hot wallet,

1272
01:01:27,280 --> 01:01:30,120
Speaker 3: that means what it means, get a text message once

1273
01:01:30,120 --> 01:01:31,960
Speaker 3: you try to log into your account to prove that

1274
01:01:32,000 --> 01:01:34,800
Speaker 3: it's you. Strengthen your passwords, change them often.

1275
01:01:35,120 --> 01:01:35,280
Speaker 2: Right.

1276
01:01:35,480 --> 01:01:37,240
Speaker 3: If you're opening a hot wallet, you can do a

1277
01:01:37,320 --> 01:01:40,880
Speaker 3: choiceet download it from an exchange website onto a drive. Right,

1278
01:01:41,200 --> 01:01:43,440
Speaker 3: keep all the security on your devices up to date,

1279
01:01:43,480 --> 01:01:46,480
Speaker 3: and back up that wallet. Because it's on you to

1280
01:01:46,600 --> 01:01:50,920
Speaker 3: make sure your crypto's safe. Now, I'll take questions if

1281
01:01:50,920 --> 01:01:52,560
Speaker 3: you want. We could talk about it some more. But

1282
01:01:52,760 --> 01:01:54,040
Speaker 3: how do I get smart about this?

1283
01:01:54,080 --> 01:01:54,240
Speaker 2: Well?

1284
01:01:54,280 --> 01:01:56,440
Speaker 3: I read a ton right, but I follow some really

1285
01:01:56,480 --> 01:02:01,120
Speaker 3: smart people. DAKFP is the Digital Assets Council for Finalancial professionals. Now,

1286
01:02:01,440 --> 01:02:04,520
Speaker 3: this is really for financial advisors and planners. With the

1287
01:02:04,560 --> 01:02:07,160
Speaker 3: way that Rick Adelman, who teaches these classes and who

1288
01:02:07,160 --> 01:02:10,240
Speaker 3: developed the Digital Assets Council, the way he approaches it

1289
01:02:10,280 --> 01:02:13,160
Speaker 3: helps people like me and you understand it, Like everything

1290
01:02:13,200 --> 01:02:14,960
Speaker 3: here was not above my head. I didn't need to

1291
01:02:14,960 --> 01:02:18,040
Speaker 3: be a financial advisor planner to understand this stuff. He

1292
01:02:18,040 --> 01:02:20,240
Speaker 3: has a very clean way of understanding of explaining it.

1293
01:02:20,480 --> 01:02:23,440
Speaker 3: I really like the Digital Assets Council. Lex Soklin is

1294
01:02:23,440 --> 01:02:26,680
Speaker 3: one of the most intelligent futurists that I know. Used

1295
01:02:26,720 --> 01:02:30,400
Speaker 3: to he hosted our crypto investing class on the Investipeda

1296
01:02:30,480 --> 01:02:32,720
Speaker 3: Academy when we had that. I trust him a lot.

1297
01:02:32,760 --> 01:02:35,400
Speaker 3: He's a super smart person who sees around the corner.

1298
01:02:35,600 --> 01:02:39,560
Speaker 3: Coinbase has a great educational and learning part of their website.

1299
01:02:39,600 --> 01:02:42,240
Speaker 3: If you want to learn anything about all these cryptocurrencies,

1300
01:02:42,400 --> 01:02:45,320
Speaker 3: we have one too. Coinbase is more robust than if

1301
01:02:45,320 --> 01:02:47,240
Speaker 3: you're already have an account there. It's a good place

1302
01:02:47,280 --> 01:02:52,080
Speaker 3: to learn. The Black Billionaires Club, that's our boy, Lamar Wilson.

1303
01:02:52,720 --> 01:02:57,120
Speaker 3: He's way smart software technician, very high level thinker. But

1304
01:02:57,320 --> 01:02:59,880
Speaker 3: the Black Bitcoin Billionaire's Club. I learned a lot from him,

1305
01:03:00,040 --> 01:03:02,120
Speaker 3: and he was at invest vest years ago. And then

1306
01:03:02,160 --> 01:03:04,880
Speaker 3: the Whiteboard Crypto YouTube series I think is pretty basic

1307
01:03:04,920 --> 01:03:07,800
Speaker 3: and pretty interesting if you want to learn these basics

1308
01:03:07,800 --> 01:03:09,320
Speaker 3: and really geek out on them and watch them for

1309
01:03:09,360 --> 01:03:12,080
Speaker 3: a while. They do a nice job of explaining things. Again,

1310
01:03:12,160 --> 01:03:14,840
Speaker 3: I'm Caleb Silver were Invested Media. All this is available

1311
01:03:14,880 --> 01:03:16,720
Speaker 3: to for free. I want to make sure if folks

1312
01:03:16,760 --> 01:03:22,920
Speaker 3: got that uh that barcode at the beginning, if they

1313
01:03:22,920 --> 01:03:28,280
Speaker 3: want to follow our educational stuff, scan that QR code

1314
01:03:28,280 --> 01:03:30,920
Speaker 3: I should say, not barcode. And that's the intro to

1315
01:03:30,960 --> 01:03:32,720
Speaker 3: bitcoin on Investorpedia.

1316
01:03:33,640 --> 01:03:34,520
Speaker 4: There you have it.

1317
01:03:34,520 --> 01:03:38,400
Speaker 1: It's a lot, Caleb, well done, Well done, appreciate it.

1318
01:03:38,480 --> 01:03:42,400
Speaker 5: Let's take a few questions if people have questions before

1319
01:03:42,440 --> 01:03:45,280
Speaker 5: we wrap. But man, just a lot of great insight.

1320
01:03:45,320 --> 01:03:47,840
Speaker 5: Thank you from bringing it to the beginning stages all

1321
01:03:47,840 --> 01:03:50,800
Speaker 5: the way to you know stocks that people can invest

1322
01:03:50,840 --> 01:03:52,360
Speaker 5: in it. There's different types of ways that you can

1323
01:03:52,400 --> 01:03:56,040
Speaker 5: invest right, so you can invest directly with bitcoin and

1324
01:03:56,080 --> 01:03:59,000
Speaker 5: hold it your own wallet. You can invest in have

1325
01:03:59,080 --> 01:04:01,800
Speaker 5: the custodian hold it for you, like the coinbase. You

1326
01:04:01,840 --> 01:04:06,280
Speaker 5: can invest something that mirrors it ETFs. If you want

1327
01:04:06,560 --> 01:04:08,880
Speaker 5: a higher level of security, you're not going to actually

1328
01:04:08,880 --> 01:04:11,360
Speaker 5: own the asset, but it'll track in the same direction

1329
01:04:11,400 --> 01:04:14,280
Speaker 5: as far as making money. Or you can have even

1330
01:04:14,280 --> 01:04:17,680
Speaker 5: more leverage with the stocks, and even more leverage if

1331
01:04:17,760 --> 01:04:21,160
Speaker 5: you want to do options on the stocks. Oh yeah,

1332
01:04:21,480 --> 01:04:24,440
Speaker 5: that leverages it even higher as far as the volatility

1333
01:04:24,480 --> 01:04:26,440
Speaker 5: on it. So it's a lot of different ways to

1334
01:04:26,480 --> 01:04:29,280
Speaker 5: go about a security something that's very very very very

1335
01:04:29,400 --> 01:04:30,760
Speaker 5: very important for sure.

1336
01:04:33,400 --> 01:04:35,920
Speaker 7: Yes, okay, I got something for you.

1337
01:04:35,960 --> 01:04:39,440
Speaker 1: And while we ciphered to some of these questions, when

1338
01:04:39,560 --> 01:04:43,920
Speaker 1: when you made the purchase today for bitcoin, there's something

1339
01:04:43,960 --> 01:04:45,640
Speaker 1: that's in there that people need to know because they

1340
01:04:45,720 --> 01:04:47,560
Speaker 1: might say, Hey, I got one hundred dollars, here's one

1341
01:04:47,640 --> 01:04:50,919
Speaker 1: hundred dollars. Why didn't my bitcoin convert over to whoever

1342
01:04:51,040 --> 01:04:55,600
Speaker 1: percentage it is ofc talk about gas fees and transaction

1343
01:04:55,720 --> 01:04:58,880
Speaker 1: fees because that's something that people that's like a hidden

1344
01:04:58,960 --> 01:05:00,680
Speaker 1: fee that they're not going to live like, what did

1345
01:05:00,680 --> 01:05:01,080
Speaker 1: that happen?

1346
01:05:01,200 --> 01:05:02,000
Speaker 2: I thought I had this.

1347
01:05:02,040 --> 01:05:05,360
Speaker 1: Amount, but when I actually got my bitcoin, it wasn't

1348
01:05:05,520 --> 01:05:06,720
Speaker 1: the same dollar value.

1349
01:05:07,120 --> 01:05:09,240
Speaker 3: Right. Bitcoin need to be mined, right, at some point

1350
01:05:09,280 --> 01:05:11,960
Speaker 3: in time, that bitcoin that I bought off the exchange

1351
01:05:11,960 --> 01:05:14,920
Speaker 3: of coinbase was mine right. It took labor, and I'm

1352
01:05:14,960 --> 01:05:17,640
Speaker 3: not talking about you know, picks and shovels in the underground.

1353
01:05:17,680 --> 01:05:20,320
Speaker 3: I'm talking about computing power to mine it. So when

1354
01:05:20,320 --> 01:05:23,840
Speaker 3: you're buying cryptocurrencies or you're trading them, they are what

1355
01:05:23,880 --> 01:05:26,360
Speaker 3: we call gas fees. It used to be transaction fees

1356
01:05:26,760 --> 01:05:29,240
Speaker 3: when we traded stocks. The brokers eventually did away with

1357
01:05:29,280 --> 01:05:33,160
Speaker 3: those because Robinhood basically killed that business, right, and they

1358
01:05:33,240 --> 01:05:35,200
Speaker 3: just made trading free. And now we are the product

1359
01:05:35,240 --> 01:05:38,360
Speaker 3: of Robinhood instead of the actual transactions. But that doesn't

1360
01:05:38,400 --> 01:05:41,400
Speaker 3: exist yet in crypto because right we're not just trading

1361
01:05:41,480 --> 01:05:44,000
Speaker 3: shares of pieces of paper. We're trading software that had

1362
01:05:44,000 --> 01:05:45,760
Speaker 3: to be mined and created at one point. They call

1363
01:05:45,800 --> 01:05:47,760
Speaker 3: them gas fees. You see it a lot in ethereum,

1364
01:05:47,960 --> 01:05:49,880
Speaker 3: which is a smart token you used to buy things

1365
01:05:49,920 --> 01:05:53,320
Speaker 3: like non fungible tokens, heavy gas fees. When you're buying

1366
01:05:53,360 --> 01:05:57,720
Speaker 3: and selling ethereum or using it as a transactional method,

1367
01:05:57,920 --> 01:06:00,840
Speaker 3: you'll end up leaking a little bit out, a little

1368
01:06:00,880 --> 01:06:02,240
Speaker 3: bit of big as we like to call it on

1369
01:06:02,280 --> 01:06:04,760
Speaker 3: the street, but that's what it is. Essentially. It doesn't

1370
01:06:04,800 --> 01:06:07,280
Speaker 3: exist anymore in the stock market, but it does exist

1371
01:06:07,520 --> 01:06:08,680
Speaker 3: in the cryptocurrency market.

1372
01:06:08,680 --> 01:06:10,560
Speaker 5: And another thing, I notice that crypto is twenty four

1373
01:06:10,560 --> 01:06:12,960
Speaker 5: hours a day too, so that's something that's different from

1374
01:06:12,960 --> 01:06:15,360
Speaker 5: the market. You can buy it at all times of

1375
01:06:15,400 --> 01:06:17,840
Speaker 5: the day, and especially like years ago, a lot of

1376
01:06:17,840 --> 01:06:19,880
Speaker 5: it was getting moved by Asia, so there was a

1377
01:06:19,920 --> 01:06:22,040
Speaker 5: lot of volatility that would happen in like three o'clock

1378
01:06:22,040 --> 01:06:25,320
Speaker 5: in the morning and stuff like that. So that's important

1379
01:06:25,320 --> 01:06:27,800
Speaker 5: just to keep in mind as far as if you

1380
01:06:27,920 --> 01:06:32,440
Speaker 5: are interested in buying crypto. Somebody super chat had asked

1381
01:06:32,440 --> 01:06:34,600
Speaker 5: the question that their friend had like fifty thousand dollars

1382
01:06:34,640 --> 01:06:36,200
Speaker 5: to invest in this Bitcoin is safest.

1383
01:06:36,400 --> 01:06:38,760
Speaker 4: This is just this is my personal opinion. Yeah, I

1384
01:06:38,760 --> 01:06:40,320
Speaker 4: think that bitcoin is definitely.

1385
01:06:40,080 --> 01:06:44,560
Speaker 5: The safest, the safest relative safe A is a is

1386
01:06:44,600 --> 01:06:49,680
Speaker 5: a word that you know, has different definitions depending on

1387
01:06:49,720 --> 01:06:52,840
Speaker 5: how you look at it. But I said this before.

1388
01:06:52,840 --> 01:06:57,360
Speaker 5: When you look at bitcoin's chart, it's going up, it's

1389
01:06:57,440 --> 01:07:00,160
Speaker 5: going down, but it's going up and most of these

1390
01:07:00,200 --> 01:07:03,880
Speaker 5: all coins charts have not followed that same comparison. So

1391
01:07:04,560 --> 01:07:08,560
Speaker 5: the opportunity to just you know, three thousand extra money

1392
01:07:08,560 --> 01:07:11,520
Speaker 5: on one day is definitely there, probably on a no

1393
01:07:11,640 --> 01:07:15,000
Speaker 5: name all coin, but there's also probably that that coin

1394
01:07:15,040 --> 01:07:16,600
Speaker 5: can go to zero a lot of coins. I've seen

1395
01:07:16,680 --> 01:07:20,400
Speaker 5: coins go to zero, master nodes and all these stuff,

1396
01:07:20,440 --> 01:07:22,360
Speaker 5: Like you know, that was a big mistake, all of

1397
01:07:22,400 --> 01:07:25,600
Speaker 5: these coins that I invested in, I would have just

1398
01:07:25,640 --> 01:07:26,200
Speaker 5: been better off.

1399
01:07:26,200 --> 01:07:27,560
Speaker 4: I put more my money in Bitcoin.

1400
01:07:28,720 --> 01:07:31,439
Speaker 5: Majority of those coins either a never made it back

1401
01:07:31,480 --> 01:07:33,920
Speaker 5: to the all time peak that happened in twenty seventeen,

1402
01:07:34,440 --> 01:07:38,120
Speaker 5: or they disappeared, they went to zero, like that happens

1403
01:07:38,120 --> 01:07:40,240
Speaker 5: that that does happen, the coins go to zero. So

1404
01:07:41,560 --> 01:07:43,920
Speaker 5: dollar cost averaging is always the best way too, because

1405
01:07:43,920 --> 01:07:45,640
Speaker 5: it's it's definitely.

1406
01:07:47,400 --> 01:07:48,520
Speaker 4: A volatile situation.

1407
01:07:48,720 --> 01:07:50,480
Speaker 3: You can't pick the top because you would have said

1408
01:07:50,480 --> 01:07:52,400
Speaker 3: one hundred thousand was the top a couple of days ago.

1409
01:07:52,440 --> 01:07:54,280
Speaker 3: We went down in ninety six. We could be at

1410
01:07:54,280 --> 01:07:55,800
Speaker 3: one hundred and two tomorrow and there will be any

1411
01:07:55,880 --> 01:07:58,360
Speaker 3: rhyme or reason. But something that Ian says a lot

1412
01:07:59,240 --> 01:08:02,160
Speaker 3: on market money, and he's not wrong, Like we over

1413
01:08:02,200 --> 01:08:04,479
Speaker 3: diversify sometimes we just try to buy it all because

1414
01:08:04,480 --> 01:08:06,320
Speaker 3: we don't know, Like I'm putting on chips on all

1415
01:08:06,320 --> 01:08:10,680
Speaker 3: the roulette pegs. Buy five of the biggest coins if

1416
01:08:10,680 --> 01:08:12,200
Speaker 3: you're just getting into the market and you want to

1417
01:08:12,280 --> 01:08:14,600
Speaker 3: learn about it. But bitcoin rules the roost right If

1418
01:08:14,600 --> 01:08:16,280
Speaker 3: you just bought in video, you would have been great

1419
01:08:16,320 --> 01:08:19,120
Speaker 3: in the past few years. Now, who knew that ps

1420
01:08:19,200 --> 01:08:23,600
Speaker 3: and video is making GPUs for mining cryptocurrency after it

1421
01:08:23,680 --> 01:08:26,599
Speaker 3: made a ton of money making GPUs for video games

1422
01:08:26,800 --> 01:08:28,599
Speaker 3: going on crypto and now it's doing it for AI.

1423
01:08:28,880 --> 01:08:30,840
Speaker 3: Why is somebody You're doing so well spending the right

1424
01:08:30,840 --> 01:08:34,360
Speaker 3: place at the right time. But pick five healthy coins

1425
01:08:34,360 --> 01:08:37,080
Speaker 3: that have a history, a track record, and a software

1426
01:08:37,120 --> 01:08:41,680
Speaker 3: that you can basically understand, and dollar cost average your win,

1427
01:08:41,800 --> 01:08:44,040
Speaker 3: and don't risk more than five percent of your portfolio. Heck,

1428
01:08:44,080 --> 01:08:46,400
Speaker 3: don't even risk more than three percent of your portfolio

1429
01:08:46,439 --> 01:08:48,840
Speaker 3: if you're scared. Make sure you don't have a loss

1430
01:08:48,840 --> 01:08:51,759
Speaker 3: that is unrecoverable. And I would tell you that about stocks,

1431
01:08:51,880 --> 01:08:53,800
Speaker 3: I would tell you that about gold, I would tell

1432
01:08:53,800 --> 01:08:57,839
Speaker 3: you that about everything. Don't have an unrecoverable loss. But Bitcoin,

1433
01:08:57,920 --> 01:09:00,200
Speaker 3: because it's new, and because it's speculative, because it as

1434
01:09:00,240 --> 01:09:02,400
Speaker 3: all of these issues where it's not regulated, but it

1435
01:09:02,479 --> 01:09:04,800
Speaker 3: might be. You never know what's going to happen, so

1436
01:09:04,840 --> 01:09:06,840
Speaker 3: don't make a risk that's so big that wipes you

1437
01:09:06,840 --> 01:09:07,439
Speaker 3: out completely.

1438
01:09:07,960 --> 01:09:09,040
Speaker 7: Yeah, that's important to know.

1439
01:09:09,080 --> 01:09:11,519
Speaker 1: And then each exchange is not the same, right, So

1440
01:09:11,880 --> 01:09:14,800
Speaker 1: some exchanges don't offer all coins, right, So like when

1441
01:09:14,800 --> 01:09:19,360
Speaker 1: people see Bitcoin, they see Ethereum, they might see Solana

1442
01:09:19,520 --> 01:09:22,920
Speaker 1: or s Every coin is not on every brokerage or

1443
01:09:22,960 --> 01:09:25,400
Speaker 1: every platform. So that's good to know. The other part

1444
01:09:25,479 --> 01:09:28,519
Speaker 1: is and this is why it's important to have education.

1445
01:09:28,600 --> 01:09:31,080
Speaker 1: It's like, yes, you can trade your US FIAT to

1446
01:09:31,160 --> 01:09:34,280
Speaker 1: buy bitcoin, right, but some of these other coins you

1447
01:09:34,400 --> 01:09:37,840
Speaker 1: have to convert to Bitcoin to actually purchase, so you

1448
01:09:37,920 --> 01:09:39,720
Speaker 1: might have to get ether, which means you'd have to

1449
01:09:39,760 --> 01:09:42,479
Speaker 1: buy ethereum. This is when it gets tricky, when you're

1450
01:09:42,520 --> 01:09:45,320
Speaker 1: trying to figure out where it's going, how to send it.

1451
01:09:45,640 --> 01:09:48,960
Speaker 1: I always recommend copy and paste, copy and paste if

1452
01:09:48,960 --> 01:09:51,599
Speaker 1: it is available, copy and paste. Can you talk about

1453
01:09:51,640 --> 01:09:54,120
Speaker 1: that process, because I don't think people understand all. They

1454
01:09:54,160 --> 01:09:56,639
Speaker 1: want to buy Solana, but they don't know how.

1455
01:09:56,600 --> 01:09:58,280
Speaker 4: Well that's my call. Coin Base.

1456
01:09:58,840 --> 01:10:01,559
Speaker 5: That's why coin base is good. Right, most of those

1457
01:10:02,000 --> 01:10:05,519
Speaker 5: Robinhood coin Base allo types of they have. Coinbase has

1458
01:10:05,560 --> 01:10:07,960
Speaker 5: a lot of coins. Yeah, you would have to go

1459
01:10:08,160 --> 01:10:10,960
Speaker 5: all the way down. A coin is not on Coinbase,

1460
01:10:12,000 --> 01:10:12,880
Speaker 5: you probably does.

1461
01:10:13,040 --> 01:10:17,440
Speaker 3: You don't want to own that exactly, and that's true. Right. So,

1462
01:10:17,439 --> 01:10:20,240
Speaker 3: so it's you know, they may all live in the

1463
01:10:20,280 --> 01:10:23,080
Speaker 3: same supermarket, but you can't trade one for the other

1464
01:10:23,160 --> 01:10:26,160
Speaker 3: without converting one to the other in some cases. Right,

1465
01:10:26,240 --> 01:10:29,519
Speaker 3: So I want to buy, you know, something that is

1466
01:10:29,560 --> 01:10:31,400
Speaker 3: more a proof of steak, you might need to use,

1467
01:10:31,800 --> 01:10:33,479
Speaker 3: you know, an ethereum for that. If you want to

1468
01:10:33,520 --> 01:10:35,960
Speaker 3: buy something that is more tied to the dollar, using

1469
01:10:35,960 --> 01:10:39,000
Speaker 3: FIAC currency for a tether. So it gets very complicated.

1470
01:10:39,000 --> 01:10:41,160
Speaker 3: That's why you have to understand the rules of how

1471
01:10:41,200 --> 01:10:44,160
Speaker 3: these are traded and how they are and how you

1472
01:10:44,200 --> 01:10:48,040
Speaker 3: can operate within them. So when Rashad says, just by bitcoin,

1473
01:10:48,160 --> 01:10:51,759
Speaker 3: it's the simplest one to understand. It has the longest

1474
01:10:51,840 --> 01:10:55,720
Speaker 3: price history in it, you can see kind of who

1475
01:10:55,760 --> 01:10:58,320
Speaker 3: owns what. It's the easiest one to wrap your mind around.

1476
01:10:58,600 --> 01:11:00,280
Speaker 3: But I pick a few of those. But if you

1477
01:11:00,320 --> 01:11:03,200
Speaker 3: are converting between coins and there are transaction fees every

1478
01:11:03,240 --> 01:11:05,320
Speaker 3: time you do that, sometimes you have to open a

1479
01:11:05,320 --> 01:11:07,400
Speaker 3: special part of your account or open it up at

1480
01:11:07,400 --> 01:11:10,240
Speaker 3: a higher subscriber level, or pay a new fee because

1481
01:11:10,240 --> 01:11:13,320
Speaker 3: you're accessing a new asset class. It is not like

1482
01:11:13,360 --> 01:11:15,360
Speaker 3: having a Schwab account where you're just like, oh, well,

1483
01:11:15,400 --> 01:11:17,880
Speaker 3: take some mutual funds and maybe some index funds. Let

1484
01:11:17,880 --> 01:11:19,960
Speaker 3: me buy a few stocks over here and some ETFs,

1485
01:11:20,120 --> 01:11:22,200
Speaker 3: and I'll buy a couple of bonds from my portfolio

1486
01:11:22,240 --> 01:11:24,519
Speaker 3: as well, all in the same supermarket. You're in the

1487
01:11:24,520 --> 01:11:27,280
Speaker 3: same supermarket, but you got to use different currencies to

1488
01:11:27,439 --> 01:11:30,240
Speaker 3: transact sometimes and it becomes very complicated. So you have

1489
01:11:30,280 --> 01:11:32,320
Speaker 3: to have a very smart way of keeping track of

1490
01:11:32,320 --> 01:11:34,320
Speaker 3: what you do, which really goes for all of investing,

1491
01:11:34,360 --> 01:11:38,160
Speaker 3: but especially here because it's all digital, right, and a

1492
01:11:38,240 --> 01:11:40,240
Speaker 3: method to what you're doing. Otherwise you can burn a

1493
01:11:40,240 --> 01:11:43,240
Speaker 3: lot of money in trading fees and in gas fes.

1494
01:11:43,600 --> 01:11:47,040
Speaker 5: And yeah, I think that Eric Trump was just a

1495
01:11:47,080 --> 01:11:53,799
Speaker 5: thinking Abu Dhabi and he was speaking about cryptocurrency, and

1496
01:11:54,080 --> 01:11:57,439
Speaker 5: it would probably the way that they're talking about this stuff.

1497
01:11:58,439 --> 01:12:00,760
Speaker 5: You know, one thing about Trump is that billionaires hang

1498
01:12:00,800 --> 01:12:05,400
Speaker 5: around billionaires. That's one thing I learned. And we talked

1499
01:12:05,439 --> 01:12:07,400
Speaker 5: about TikTok, like when TikTok was gonna be in banned.

1500
01:12:07,400 --> 01:12:08,880
Speaker 5: I was just saying, like, you know, Trump has too

1501
01:12:08,920 --> 01:12:10,800
Speaker 5: many rich friends. I don't see you happy at the

1502
01:12:10,840 --> 01:12:13,880
Speaker 5: end today. Lo and behold, they was saying one of

1503
01:12:13,920 --> 01:12:16,719
Speaker 5: his billionaire friends wants to buy TikTok and they're waiting

1504
01:12:16,720 --> 01:12:18,120
Speaker 5: for him to get an office so that they could

1505
01:12:18,120 --> 01:12:22,080
Speaker 5: purchase the company. So, you know, it's so much money,

1506
01:12:22,240 --> 01:12:25,320
Speaker 5: so much opportunity to be made in crypto. And if

1507
01:12:25,360 --> 01:12:28,680
Speaker 5: you listen to anything that they're saying, whether there's anybody

1508
01:12:28,840 --> 01:12:32,000
Speaker 5: in that in the in the in the circle, they're

1509
01:12:32,040 --> 01:12:38,040
Speaker 5: gonna do everything that they possibly can to pump cryptocurrency

1510
01:12:38,240 --> 01:12:40,519
Speaker 5: for the next four years.

1511
01:12:41,360 --> 01:12:46,240
Speaker 3: Yeah, and why is that because billionaires like because billionaires

1512
01:12:46,240 --> 01:12:50,120
Speaker 3: like billionaires hanging around billionaires and doing favors to people

1513
01:12:50,160 --> 01:12:51,760
Speaker 3: that are going to help you get reelected to get

1514
01:12:51,800 --> 01:12:53,800
Speaker 3: the next person in your party elected. That's the way

1515
01:12:53,800 --> 01:12:56,160
Speaker 3: the political machine works, right. You spend the first two

1516
01:12:56,200 --> 01:12:58,800
Speaker 3: years trying to maybe make good on your promises, been

1517
01:12:58,800 --> 01:13:00,839
Speaker 3: they gotta spend the next two years getting re elected.

1518
01:13:00,840 --> 01:13:03,400
Speaker 3: That means paying back favors. Who's on the cover of

1519
01:13:03,439 --> 01:13:05,880
Speaker 3: Time as the most influential person or the person of

1520
01:13:05,880 --> 01:13:08,439
Speaker 3: the year today, who owns Time?

1521
01:13:10,720 --> 01:13:15,920
Speaker 7: Yeah, benil Uh CEO of Salesforce. Yeah, another billionaire.

1522
01:13:16,920 --> 01:13:22,880
Speaker 5: Right, it's all connected, It's all connected all and you

1523
01:13:22,920 --> 01:13:24,280
Speaker 5: saw did you see that meta?

1524
01:13:24,439 --> 01:13:28,639
Speaker 4: For the first time in Facebook's history, a million dollars will.

1525
01:13:28,479 --> 01:13:31,840
Speaker 5: Donate a million dollars to the inauguration of Donald Trump.

1526
01:13:31,920 --> 01:13:35,400
Speaker 5: They've never donated money to an inauguration present ever.

1527
01:13:35,760 --> 01:13:39,360
Speaker 3: Jeff Bezos a million dollars. Right, he bought the Washington

1528
01:13:39,400 --> 01:13:41,360
Speaker 3: Post so he could keep him out of office. I

1529
01:13:41,360 --> 01:13:42,600
Speaker 3: guess things changed.

1530
01:13:42,400 --> 01:13:44,120
Speaker 4: And for the and for the first time in Washington

1531
01:13:44,160 --> 01:13:45,759
Speaker 4: Post history, they didn't. They didn't.

1532
01:13:46,120 --> 01:13:47,160
Speaker 3: They didn't endorse, they.

1533
01:13:47,080 --> 01:13:48,719
Speaker 4: Didn't endorse it. They didn't doss the candidate.

1534
01:13:48,880 --> 01:13:49,040
Speaker 2: Right.

1535
01:13:49,160 --> 01:13:52,040
Speaker 7: So, and now he's the second wealthiest person in the world.

1536
01:13:52,040 --> 01:13:54,320
Speaker 3: To re quote the wire, you want it to be

1537
01:13:54,400 --> 01:13:59,200
Speaker 3: one way, but it's an other way, all connected. Sometimes

1538
01:13:59,240 --> 01:13:59,880
Speaker 3: it's the other way.

1539
01:14:00,400 --> 01:14:00,800
Speaker 2: Kail up.

1540
01:14:00,800 --> 01:14:02,800
Speaker 7: Your cultural relevance never seems to amaze me.

1541
01:14:03,600 --> 01:14:10,479
Speaker 5: I'm old, that's a fact. So yeah, I mean follow

1542
01:14:10,520 --> 01:14:12,599
Speaker 5: the money. If you follow I have to say, if

1543
01:14:12,640 --> 01:14:18,200
Speaker 5: you're following the money, it looks like it looks like

1544
01:14:18,600 --> 01:14:22,439
Speaker 5: the wind is at the back of crypto right now.

1545
01:14:23,200 --> 01:14:28,280
Speaker 1: Yeah, some people asking so which exchange? Uh, And we

1546
01:14:28,680 --> 01:14:30,280
Speaker 1: experienced this right. It was like we were trying to

1547
01:14:30,280 --> 01:14:32,759
Speaker 1: figure out what exchange do we keep everything on one exchange?

1548
01:14:32,840 --> 01:14:33,000
Speaker 2: Right?

1549
01:14:33,200 --> 01:14:35,640
Speaker 1: We talk about this formula especially wh we're investing in

1550
01:14:35,720 --> 01:14:39,920
Speaker 1: the market where we have maybe Fidelity just for our stocks,

1551
01:14:39,960 --> 01:14:43,400
Speaker 1: and we have each trace strictly for our options, and

1552
01:14:43,560 --> 01:14:47,320
Speaker 1: we might have you know, we separated by platforms.

1553
01:14:48,520 --> 01:14:50,200
Speaker 7: What's your thoughts on having a.

1554
01:14:50,080 --> 01:14:53,360
Speaker 1: Coin base and I mean maybe having a Kraken and

1555
01:14:53,520 --> 01:14:55,280
Speaker 1: you know, at one point I had Finance and I

1556
01:14:55,320 --> 01:14:58,599
Speaker 1: had gate Io and all these things. Gemini had Gemini

1557
01:14:58,640 --> 01:15:02,360
Speaker 1: as well, and it it becomes a lot to track

1558
01:15:02,439 --> 01:15:04,040
Speaker 1: and try to keep account for.

1559
01:15:04,120 --> 01:15:05,160
Speaker 7: What's your thoughts around that?

1560
01:15:05,720 --> 01:15:09,280
Speaker 3: Sounds like your sneaker collection, Troy? You know me, Well,

1561
01:15:09,800 --> 01:15:13,719
Speaker 3: I'm all for simplicity and for not over complicating something

1562
01:15:13,760 --> 01:15:16,800
Speaker 3: that is already very complicated. We gave you a list

1563
01:15:16,840 --> 01:15:19,479
Speaker 3: of exchanges. If you really want to get out on

1564
01:15:19,520 --> 01:15:21,600
Speaker 3: the edge, cracking is the place to go where you

1565
01:15:21,640 --> 01:15:25,240
Speaker 3: can do very very exotic type trading and access a

1566
01:15:25,240 --> 01:15:27,360
Speaker 3: bunch of different platforms. If you just want to start

1567
01:15:27,400 --> 01:15:30,799
Speaker 3: dollar cost averaging and building a portfolio of crypto assets,

1568
01:15:30,920 --> 01:15:34,479
Speaker 3: then any of these brokers are fine. Even Blackrock will

1569
01:15:34,479 --> 01:15:37,720
Speaker 3: help you do that. Even Schwab will help you. I

1570
01:15:37,760 --> 01:15:43,280
Speaker 3: think Custodian, some ETF, some crypto ETFs, but Fideli's allowing

1571
01:15:43,280 --> 01:15:47,080
Speaker 3: you to do it today. Coinbases definitely, that's what they do.

1572
01:15:47,680 --> 01:15:48,599
Speaker 3: Robinhood allows you.

1573
01:15:48,560 --> 01:15:49,160
Speaker 2: To do it today.

1574
01:15:49,160 --> 01:15:51,880
Speaker 3: You really can't go wrong unless you really want to

1575
01:15:51,920 --> 01:15:54,559
Speaker 3: get very complicated with it. And even like a tasty

1576
01:15:54,840 --> 01:15:57,080
Speaker 3: tasty trade will allow you to do some options, play

1577
01:15:57,320 --> 01:15:59,280
Speaker 3: interactive brokers if you want to do it on the

1578
01:15:59,280 --> 01:16:02,200
Speaker 3: international front, they all allow it to a certain degree.

1579
01:16:02,439 --> 01:16:06,000
Speaker 3: But for basic investors that are building positions and trying

1580
01:16:06,000 --> 01:16:08,720
Speaker 3: to just make sure they understand it, I would keep

1581
01:16:08,720 --> 01:16:10,720
Speaker 3: it all in one place for now. And if you

1582
01:16:10,760 --> 01:16:13,439
Speaker 3: decide that you need to get a little bit more advanced,

1583
01:16:13,439 --> 01:16:16,320
Speaker 3: then the platform you have doesn't access allow you access

1584
01:16:16,320 --> 01:16:18,200
Speaker 3: to the coins you want, or the tokens or the

1585
01:16:18,240 --> 01:16:20,800
Speaker 3: types of trades you want. Then it's okay to either

1586
01:16:21,080 --> 01:16:23,800
Speaker 3: take on a new one for those types of trades.

1587
01:16:23,840 --> 01:16:26,400
Speaker 3: But simplicity is best in a complicated asset.

1588
01:16:28,240 --> 01:16:31,479
Speaker 5: Yeah you have it, that is a fact. That is

1589
01:16:31,520 --> 01:16:36,320
Speaker 5: a fact, and uh yeah you can. You can keep

1590
01:16:36,320 --> 01:16:38,439
Speaker 5: it on a ledger, but just be careful.

1591
01:16:39,560 --> 01:16:39,880
Speaker 4: That's it.

1592
01:16:40,240 --> 01:16:43,559
Speaker 5: Keep it on Like I like, if you had if

1593
01:16:43,560 --> 01:16:47,320
Speaker 5: you had ten million dollars, all right, speaking to the audience,

1594
01:16:47,880 --> 01:16:49,800
Speaker 5: put it in chat, if you had ten million dollars

1595
01:16:49,840 --> 01:16:55,840
Speaker 5: in cash, would you rather have it in a volte

1596
01:16:55,840 --> 01:16:59,600
Speaker 5: in your basement or would you rather have it in

1597
01:16:59,760 --> 01:17:00,400
Speaker 5: Chase Bank?

1598
01:17:01,520 --> 01:17:02,839
Speaker 4: Neither one is the wrong answer.

1599
01:17:04,479 --> 01:17:07,800
Speaker 3: But if you're honest, you're having in fifty.

1600
01:17:07,439 --> 01:17:14,160
Speaker 4: Banks at least at least not at least.

1601
01:17:14,560 --> 01:17:16,439
Speaker 3: That's that two hundred and fifty thousand dollars of it

1602
01:17:16,479 --> 01:17:20,320
Speaker 3: is protected by each bank. But look at all these

1603
01:17:20,640 --> 01:17:22,920
Speaker 3: NBA players and the NFL players are getting their house

1604
01:17:23,000 --> 01:17:25,519
Speaker 3: robbed when they leave it out for a game. Schedules

1605
01:17:25,520 --> 01:17:26,719
Speaker 3: out there for everybody to see.

1606
01:17:27,400 --> 01:17:28,320
Speaker 2: They know the road game.

1607
01:17:29,360 --> 01:17:31,040
Speaker 4: So yeah, so a lot of people are saying vote.

1608
01:17:31,080 --> 01:17:33,479
Speaker 5: So if you if you, if you say vote, then

1609
01:17:33,520 --> 01:17:35,160
Speaker 5: you should have it an alleged you should have your

1610
01:17:35,200 --> 01:17:39,040
Speaker 5: own ledger. If you're saying Chase Bank, then you should.

1611
01:17:38,720 --> 01:17:42,120
Speaker 4: Have it with Yeah. That was one of the things

1612
01:17:42,320 --> 01:17:44,040
Speaker 4: dot com or coinbase.

1613
01:17:44,320 --> 01:17:47,680
Speaker 1: One of the things Chris was saying on Monday night,

1614
01:17:47,920 --> 01:17:50,320
Speaker 1: which is just he wants to be in control of everything.

1615
01:17:50,320 --> 01:17:51,960
Speaker 1: He doesn't want to have anybody in control of it

1616
01:17:52,000 --> 01:17:54,919
Speaker 1: by themselves. And so that's one of those things.

1617
01:17:54,720 --> 01:17:56,679
Speaker 4: Is until they until they take.

1618
01:17:57,080 --> 01:17:59,800
Speaker 1: Until until the house burns down, right, they blow up

1619
01:17:59,800 --> 01:18:02,000
Speaker 1: your else. So somebody robs your house and now all

1620
01:18:02,040 --> 01:18:04,080
Speaker 1: the money's going. But if you're going to have that

1621
01:18:04,160 --> 01:18:07,080
Speaker 1: level of control, you you have to equally have that

1622
01:18:07,200 --> 01:18:08,480
Speaker 1: level of security.

1623
01:18:08,960 --> 01:18:11,879
Speaker 3: Yeah, you're the CFO, you're the CTO, you're the CEO,

1624
01:18:12,080 --> 01:18:13,559
Speaker 3: and you're the chief security officer.

1625
01:18:16,000 --> 01:18:18,559
Speaker 4: And this is vitally important too.

1626
01:18:20,240 --> 01:18:24,719
Speaker 5: M have some when I was a financial advis little

1627
01:18:24,720 --> 01:18:27,519
Speaker 5: thing called a beneficial right handbook, because if I have

1628
01:18:27,640 --> 01:18:31,880
Speaker 5: life insurance and I brought a million dollar life insurance policy, right,

1629
01:18:32,000 --> 01:18:36,439
Speaker 5: let's say, and I secure my life insurance policy in

1630
01:18:37,040 --> 01:18:40,240
Speaker 5: a safe, and I have my will, I have my trust,

1631
01:18:40,240 --> 01:18:42,160
Speaker 5: I have all my documents, I have my retirement plan,

1632
01:18:42,240 --> 01:18:44,080
Speaker 5: I have it in the safety. I'm just a very

1633
01:18:44,080 --> 01:18:47,519
Speaker 5: paranoid person. I have everything in the safe. And you know,

1634
01:18:47,600 --> 01:18:49,800
Speaker 5: nobody's planning on dying. But let's just say, you know

1635
01:18:49,880 --> 01:18:54,559
Speaker 5: I just die one day. Right, Well, if I never

1636
01:18:54,600 --> 01:18:58,920
Speaker 5: told anybody I have this stuff, it doesn't matter. I

1637
01:18:58,920 --> 01:19:02,200
Speaker 5: can't rely on life insurance companies calling you. They're not

1638
01:19:02,680 --> 01:19:05,880
Speaker 5: I worked in the industry. It's not going to happen.

1639
01:19:06,800 --> 01:19:10,880
Speaker 5: Millions of dollars of life insurance never gets paid out

1640
01:19:11,000 --> 01:19:14,200
Speaker 5: because they were never notified that the person dies. What

1641
01:19:14,360 --> 01:19:16,880
Speaker 5: ends up happening is that you're no longer alive, so

1642
01:19:16,920 --> 01:19:19,880
Speaker 5: you stop paying your premium, your policy lapses, and the

1643
01:19:19,920 --> 01:19:20,880
Speaker 5: company keeps the money.

1644
01:19:20,960 --> 01:19:26,520
Speaker 4: I say that to say.

1645
01:19:24,160 --> 01:19:27,080
Speaker 5: If you are keeping it in a ledger and you

1646
01:19:27,120 --> 01:19:32,600
Speaker 5: do have a complicated security code, well you got to

1647
01:19:32,600 --> 01:19:35,120
Speaker 5: tell somebody the code, or you got to tell somebody

1648
01:19:35,120 --> 01:19:40,439
Speaker 5: to access to the code, because if you die and

1649
01:19:40,479 --> 01:19:43,360
Speaker 5: nobody knows anything, then you're.

1650
01:19:43,240 --> 01:19:45,120
Speaker 4: Screwed with you.

1651
01:19:46,479 --> 01:19:49,479
Speaker 3: I saw a stat that you know, tens of millions

1652
01:19:49,479 --> 01:19:52,719
Speaker 3: of dollars in crypto is just gone disappearity. The people

1653
01:19:52,760 --> 01:19:55,600
Speaker 3: lost it died without telling anybody the code. Right, that

1654
01:19:55,720 --> 01:19:58,000
Speaker 3: is very important. I'm glad you mentioned that, Rashad, because

1655
01:19:58,240 --> 01:20:01,200
Speaker 3: if you're working with a financial advisor or planner or

1656
01:20:01,520 --> 01:20:03,519
Speaker 3: a lawyer who helps you with your wills and your trust,

1657
01:20:03,600 --> 01:20:06,280
Speaker 3: your a vocable trust, you have to make sure that

1658
01:20:06,360 --> 01:20:09,880
Speaker 3: you you are very explicit about the transfership of that

1659
01:20:09,920 --> 01:20:15,280
Speaker 3: custodianship of your crypto assets, otherwise it will disappear. Right,

1660
01:20:15,360 --> 01:20:18,040
Speaker 3: you have to have to be very explicitly laid out

1661
01:20:18,080 --> 01:20:19,519
Speaker 3: in your trust or your will.

1662
01:20:20,920 --> 01:20:21,240
Speaker 7: Yeah.

1663
01:20:21,320 --> 01:20:23,960
Speaker 3: Yeah, we're still building the rules around this. This is

1664
01:20:23,960 --> 01:20:26,599
Speaker 3: a fourteen year old asset. So like the highways, there

1665
01:20:26,640 --> 01:20:28,439
Speaker 3: was no rules when we first started driving. There was

1666
01:20:28,439 --> 01:20:31,320
Speaker 3: a lot of accidents until they started making rules, rules

1667
01:20:31,320 --> 01:20:35,479
Speaker 3: and regulations around custodianship. We need them, especially in this

1668
01:20:36,240 --> 01:20:39,400
Speaker 3: really exotic asset class. But that's I'm so glad you

1669
01:20:39,439 --> 01:20:40,160
Speaker 3: mentioned that I forgot.

1670
01:20:40,160 --> 01:20:42,799
Speaker 5: That also helps us supply and demand situation because unlike

1671
01:20:43,439 --> 01:20:45,920
Speaker 5: the Fiat money, if you have money in the bank

1672
01:20:45,920 --> 01:20:49,160
Speaker 5: and then you just disappear the money, the bank's going

1673
01:20:49,200 --> 01:20:51,400
Speaker 5: to keep your money if there's no beneficiary, and they're

1674
01:20:51,439 --> 01:20:53,720
Speaker 5: going to you know, go to But I feel like,

1675
01:20:53,840 --> 01:21:00,520
Speaker 5: sa she, let's say hypothetically he or she died that

1676
01:21:00,520 --> 01:21:04,600
Speaker 5: that that's gone. It's not like it's going to go

1677
01:21:04,640 --> 01:21:05,800
Speaker 5: back into the supply chain.

1678
01:21:05,880 --> 01:21:06,080
Speaker 3: Yeah.

1679
01:21:06,200 --> 01:21:11,200
Speaker 5: No, So that's actually beneficial. That's actually been official to

1680
01:21:11,280 --> 01:21:13,479
Speaker 5: people that have bitcoin because it increases the viuce. It's

1681
01:21:13,520 --> 01:21:17,960
Speaker 5: not like it's an ongoing cycle of I lose my

1682
01:21:18,040 --> 01:21:20,599
Speaker 5: bitcoin and now it just goes back into the supply

1683
01:21:20,720 --> 01:21:22,000
Speaker 5: then you can buy my bitcoin.

1684
01:21:22,080 --> 01:21:25,439
Speaker 4: I lose my bitcoin, it's just like game, like I

1685
01:21:25,479 --> 01:21:25,960
Speaker 4: just burned it.

1686
01:21:26,040 --> 01:21:28,120
Speaker 1: Especially a whale as I told you you're talking about.

1687
01:21:28,520 --> 01:21:30,920
Speaker 1: We've talked about that infancit infinite supply of twenty one

1688
01:21:31,000 --> 01:21:34,000
Speaker 1: million tomorrow. If that twenty one million now turns to

1689
01:21:34,000 --> 01:21:35,800
Speaker 1: be twenty million, you're going to see this thing.

1690
01:21:36,520 --> 01:21:37,960
Speaker 7: I mean, this is really to the moon.

1691
01:21:38,360 --> 01:21:41,120
Speaker 3: Yeah right, yep. So I already got a tight enough supply.

1692
01:21:41,240 --> 01:21:45,080
Speaker 3: So any big whale you know, makes a big move

1693
01:21:45,120 --> 01:21:46,840
Speaker 3: of it. That's what makes bitcoin move.

1694
01:21:46,880 --> 01:21:47,000
Speaker 2: It.

1695
01:21:47,000 --> 01:21:50,200
Speaker 3: It's not because it wound up in the newspaper, it's not.

1696
01:21:50,479 --> 01:21:53,479
Speaker 3: It's because somebody big is buying it or selling it.

1697
01:21:53,640 --> 01:21:55,559
Speaker 3: And the most important thing we were talking about this

1698
01:21:55,640 --> 01:21:59,160
Speaker 3: before we started is this belief system. Right. We have

1699
01:21:59,240 --> 01:22:01,760
Speaker 3: an expression in economics, and I'm not trying to be

1700
01:22:01,840 --> 01:22:03,920
Speaker 3: rude to throw she but it's called the greater fool theory.

1701
01:22:04,120 --> 01:22:06,120
Speaker 3: And in a lot of cases when you look at

1702
01:22:06,160 --> 01:22:09,880
Speaker 3: these cryptocurrencies, they operate under that theory. What is the

1703
01:22:09,880 --> 01:22:13,200
Speaker 3: next fool think it's worth? Because that's what the price is.

1704
01:22:13,880 --> 01:22:16,280
Speaker 3: That's where the price is. It's whatever the next person

1705
01:22:16,320 --> 01:22:17,960
Speaker 3: thinks it's worth. And if people think it's worth one

1706
01:22:18,000 --> 01:22:19,960
Speaker 3: hundred thousand and they own enough of it, that's what

1707
01:22:20,000 --> 01:22:22,920
Speaker 3: it's worth today. They could change their mind tomorrow. A

1708
01:22:22,920 --> 01:22:24,920
Speaker 3: lot of this is about belief and you have to

1709
01:22:25,080 --> 01:22:27,280
Speaker 3: understand that and accept that if you're going to be

1710
01:22:27,280 --> 01:22:29,639
Speaker 3: an investor in cryptocurrencies, that's just the game.

1711
01:22:31,439 --> 01:22:35,320
Speaker 5: There, you have it, Okay, all right. I think this

1712
01:22:35,479 --> 01:22:38,400
Speaker 5: was a very educational conversation that we had.

1713
01:22:38,479 --> 01:22:41,040
Speaker 7: It's been a pretty impressive week in terms of crypto

1714
01:22:41,120 --> 01:22:41,400
Speaker 7: for us.

1715
01:22:41,520 --> 01:22:44,759
Speaker 5: Yeah, for sure, we did a lot for your crypto enthusias.

1716
01:22:44,840 --> 01:22:48,799
Speaker 5: Has said that we never talk about crypto, leave us alone.

1717
01:22:49,120 --> 01:22:51,040
Speaker 5: We gave you education all week long.

1718
01:22:51,800 --> 01:22:55,600
Speaker 3: Talk about beauty bonds next week, sure, next week to it.

1719
01:22:55,760 --> 01:23:00,560
Speaker 4: For sure. We're on real estate, what condos and Arizona.

1720
01:23:01,680 --> 01:23:05,120
Speaker 7: We're buying more data centers for sure.

1721
01:23:05,840 --> 01:23:07,920
Speaker 4: All right, all right, Caleb, thank you.

1722
01:23:09,080 --> 01:23:13,360
Speaker 5: Always a pleasure whenever we get to link.

1723
01:23:14,200 --> 01:23:16,599
Speaker 4: Appreciate your time. Short notice too.

1724
01:23:16,600 --> 01:23:19,519
Speaker 5: I called you last week and asked you if you

1725
01:23:19,560 --> 01:23:23,400
Speaker 5: could do this and you said no problem, so as

1726
01:23:23,439 --> 01:23:25,080
Speaker 5: always for me.

1727
01:23:25,120 --> 01:23:27,920
Speaker 3: And I appreciate that you sharing the platform. And again,

1728
01:23:28,000 --> 01:23:30,479
Speaker 3: you guys have done so much to educate people. It's

1729
01:23:30,479 --> 01:23:32,519
Speaker 3: really it's an honor to be working with you, and

1730
01:23:32,560 --> 01:23:35,360
Speaker 3: I'm glad we're friends and I'm happy to do this anytime.

1731
01:23:35,800 --> 01:23:39,320
Speaker 1: And I also appreciate the Master Malli picture in the back.

1732
01:23:40,600 --> 01:23:42,720
Speaker 1: Before we came on, we were talking about the great

1733
01:23:42,760 --> 01:23:44,920
Speaker 1: country of Jamaica. So I know you have a love

1734
01:23:44,960 --> 01:23:46,200
Speaker 1: for it as much as I do.

1735
01:23:46,479 --> 01:23:47,559
Speaker 7: So I appreciate that.

1736
01:23:47,520 --> 01:23:50,439
Speaker 3: My pleasure that actually came from tough Goong studios in

1737
01:23:50,520 --> 01:23:53,360
Speaker 3: Jamaica about forty years ago. I abought that poster.

1738
01:23:53,479 --> 01:23:58,880
Speaker 1: Still with me, so I got my god one love.

1739
01:23:58,960 --> 01:24:05,400
Speaker 4: Indeed, all right, all right, my brother, thank you.

1740
01:24:05,479 --> 01:24:07,400
Speaker 2: Appreciate good, appreciate love.

1741
01:24:07,680 --> 01:24:08,240
Speaker 7: How about.

1742
01:24:11,640 --> 01:24:15,400
Speaker 4: Okay, we can end this live. There's no more.

1743
01:24:16,040 --> 01:24:19,719
Speaker 8: An illegal alien from Guatemala charged with raping a child

1744
01:24:19,760 --> 01:24:23,560
Speaker 8: in Massachusetts. An MS thirteen gang member from Al Salvador

1745
01:24:23,800 --> 01:24:27,920
Speaker 8: accused of murdering a Texas man of Venezuelan charged with

1746
01:24:28,000 --> 01:24:31,880
Speaker 8: filming and selling child pornography in Michigan. These are just

1747
01:24:32,000 --> 01:24:35,759
Speaker 8: some of the heinous migrant criminals caught because of President

1748
01:24:35,760 --> 01:24:39,320
Speaker 8: Donald J. Trump's leadership. I'm Christy Noman, the United States

1749
01:24:39,360 --> 01:24:44,160
Speaker 8: Secretary of Homeland Security. Under President Trump, attempted illegal border

1750
01:24:44,200 --> 01:24:47,760
Speaker 8: crossings are at the lowest levels ever recorded, and over

1751
01:24:47,800 --> 01:24:51,040
Speaker 8: one hundred thousand illegal aliens have been arrested. If you

1752
01:24:51,120 --> 01:24:54,960
Speaker 8: are here illegally, your next You will be fine nearly

1753
01:24:55,040 --> 01:24:59,080
Speaker 8: one thousand dollars a day, imprisoned, and deported. You will

1754
01:24:59,080 --> 01:25:02,760
Speaker 8: never return. But if you register using our CBP home

1755
01:25:02,800 --> 01:25:06,160
Speaker 8: app and leave now, you could be allowed to return legally.

1756
01:25:06,520 --> 01:25:11,240
Speaker 8: Do what's right. Leave now. Under President Trump America's laws,

1757
01:25:11,439 --> 01:25:13,439
Speaker 8: border and families.

1758
01:25:13,040 --> 01:25:15,439
Speaker 3: Will be protected. Sponsored by the United States Department of

1759
01:25:15,479 --> 01:25:16,120
Speaker 3: Homeland Security,