WEBVTT - Study Hall: Bitcoin & Cryptocurrency with Fritz Charles 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:00.520 Sponsored by the United States Department of Homeland Security. 0:01:02.160 --> 0:01:05.560 My graduates from my school being forced. 0:01:05.440 --> 0:01:21.440 Back and drop drop Mike, drop back, drop drop. All right, guys, 0:01:21.560 --> 0:01:24.360 welcome back. Before we start, we gotta let you know 0:01:25.640 --> 0:01:28.440 you know. We got a lot, a lot of requests 0:01:28.520 --> 0:01:31.800 extend the sale for Ewyle University, and it was supposed 0:01:31.800 --> 0:01:35.200 to get shut down on January one, but as you know, 0:01:35.319 --> 0:01:37.959 Awyle University, or as you might not know, it's actually 0:01:38.080 --> 0:01:42.640 ending as its current form and graduate school will begin. 0:01:42.760 --> 0:01:46.039 So we was planning on launching and graduate school January first, 0:01:46.160 --> 0:01:48.480 ran to some technical difficulties, had to make sure everything 0:01:48.520 --> 0:01:50.440 was right with the website and all that, so we 0:01:50.520 --> 0:01:52.840 pushed it back a week. So you guys still have 0:01:52.920 --> 0:01:55.680 seven days to join at the current price. The price 0:01:55.760 --> 0:02:02.440 made double may, tripping may, quadruple definite. But it's gonna 0:02:02.440 --> 0:02:05.160 be completely revamped. It's gonna be a different situation. But 0:02:05.680 --> 0:02:09.839 eyl University includes over one hundred past webinars, weekly webinars, 0:02:10.240 --> 0:02:12.280 access to our movie club, access to our book club, 0:02:12.280 --> 0:02:15.480 access to our Facebook group, bi weekly real estate calls 0:02:15.520 --> 0:02:18.160 with MG the mortgage Guy, and once a month financial 0:02:18.160 --> 0:02:22.080 planning calls with me. All of that is included in 0:02:22.080 --> 0:02:24.400 the ey University membership. So if you're interested, you can 0:02:24.400 --> 0:02:27.520 go to Eyo university dot com right now and enter 0:02:27.680 --> 0:02:32.760 promo code EYL at checkout for forty percent off. You 0:02:32.840 --> 0:02:35.639 got five days, all right, So now we're going to 0:02:35.720 --> 0:02:38.320 go into what everybody's been waiting for. We're gonna break 0:02:38.360 --> 0:02:42.560 down cryptocurrency. Before we go into cryptocurrency, we gotta tell 0:02:42.560 --> 0:02:45.560 a story. We tell our own personal story about crypto. 0:02:45.680 --> 0:02:46.560 We're all involved. 0:02:47.080 --> 0:02:49.640 Yeah, so if you know, if you if you listen 0:02:49.639 --> 0:02:53.720 to the podcast, you know that a our theme is transparency. 0:02:53.800 --> 0:02:56.320 We tell you know, our real stories in real life, 0:02:56.360 --> 0:02:58.800 and our guests tell their reil stories. And we also 0:02:58.960 --> 0:03:01.760 have the slogan of oney in shout out to nip 0:03:01.840 --> 0:03:05.799 Rest in peace. But it's real because we really tried 0:03:05.800 --> 0:03:08.760 everything at one point in time. We literally tried everything. 0:03:10.520 --> 0:03:11.080 Exactly. 0:03:11.880 --> 0:03:12.560 He tried everything. 0:03:13.240 --> 0:03:13.480 Listen. 0:03:13.600 --> 0:03:17.639 So all right, so here's the story you on crypto currency. Right, 0:03:17.720 --> 0:03:25.440 So two thousand and seventeen, right the draft, we got 0:03:25.440 --> 0:03:27.280 to take it back to the draft of twenty seventeen. 0:03:27.360 --> 0:03:30.560 So Donovan Mitchell shout out to Donovan Mitchell, right, hometown hero. 0:03:31.000 --> 0:03:34.600 And we were at the Barclay Center because we're good 0:03:34.600 --> 0:03:37.040 friends with his family and they invited us, and we 0:03:37.040 --> 0:03:41.119 were at the sweep when he got drafted into the mess. Yeah, 0:03:42.400 --> 0:03:44.600 once again, the Knicks screwed that up and didn't draft. 0:03:44.680 --> 0:03:47.160 Yeah, we were sitting there, like you know, the Knicks 0:03:47.160 --> 0:03:49.280 had a chance to do it. He worked out for him. 0:03:49.440 --> 0:03:52.400 Dad was like, I think he got a chance and Noe. 0:03:52.400 --> 0:03:56.480 Yeah, Frank, it didn't draft him, but he got drafted 0:03:56.480 --> 0:03:58.360 buy Utah. But anyway, we were still with his family 0:03:58.760 --> 0:04:04.640 and one of our good friends. Uh so, her kid 0:04:04.920 --> 0:04:06.920 went to a private school and one of his friends. 0:04:06.960 --> 0:04:08.640 This is why networking is so important, right, people that 0:04:08.720 --> 0:04:12.000 you meet. His friend was like a twenty year old kid, right, 0:04:12.320 --> 0:04:14.520 And I just met him and we was just talking randomly, 0:04:14.640 --> 0:04:16.160 like what do you do for living? My financial advisors, 0:04:16.160 --> 0:04:18.000 So we just started talking. Mind you, he's twenty years 0:04:18.040 --> 0:04:19.679 old at this time. I think he's like a freshman 0:04:19.800 --> 0:04:22.760 sophomore in college or something like that. And he's telling me, 0:04:22.800 --> 0:04:25.400 He's like, you know, I just bought this Ethereum. He's like, 0:04:25.440 --> 0:04:27.760 I put twenty thousand into ethereum. You know, I put 0:04:27.800 --> 0:04:31.960 ten thousand to ethereum like five months ago and it 0:04:32.040 --> 0:04:34.000 went to one hundred thousand. I cashed out. He said, 0:04:34.040 --> 0:04:37.400 my friend put one hundred thousand into Ethereum. It went 0:04:37.440 --> 0:04:39.240 to a million. He cashed out. He started a hedge 0:04:39.240 --> 0:04:40.720 funt twenty years. 0:04:40.920 --> 0:04:44.119 I don't even think here he might have been twenty 0:04:44.160 --> 0:04:46.120 I think he was eighteen nineteen. I think something like 0:04:46.160 --> 0:04:48.000 that as a graduation gift. 0:04:48.200 --> 0:04:50.679 Yeah, well you know that. And that's the power of family, 0:04:51.040 --> 0:04:53.720 of course, right he wasn't from our community, that's for them. 0:04:53.839 --> 0:04:54.039 Sure. 0:04:57.640 --> 0:05:00.960 So when he told me that, told Jamal, I'm like, 0:05:01.080 --> 0:05:03.360 well we got it, Like what's this? Like this because 0:05:03.360 --> 0:05:05.240 I heard about cryptocurrency. I heard about bitcoin, but I 0:05:05.240 --> 0:05:08.880 ain't really hit by Ethereum. I'm like hold up, wait, 0:05:09.120 --> 0:05:11.520 like what's going on here? And that's when I started 0:05:11.560 --> 0:05:13.640 studying it, but I still was kind of apprehensive. I 0:05:13.680 --> 0:05:16.400 ain't really sure. And then I see bitcoin. I'm just 0:05:16.440 --> 0:05:18.960 studying it. I'm just a student of the game, and 0:05:19.279 --> 0:05:22.520 like October, I see bitcoin just start climbing. It went 0:05:22.560 --> 0:05:25.040 from like six thousand to seven thousand. No, it went 0:05:25.080 --> 0:05:28.000 from like three thousand. It like four thousand to like 0:05:28.080 --> 0:05:30.520 five thousand. So then I called my man shout to 0:05:30.600 --> 0:05:34.600 Jason Lewis. I called him and he's a bitcoin expert, 0:05:34.880 --> 0:05:37.200 and I'm like, okay, tell me everything I need to 0:05:37.240 --> 0:05:39.440 know about cryptocurrency. He educated me for two and a 0:05:39.480 --> 0:05:41.560 half hours, and I asked every single question that I 0:05:41.560 --> 0:05:43.800 could have asked, like a thousand questions. Every question I 0:05:43.800 --> 0:05:46.240 had educated on me on it, and that was like 0:05:46.320 --> 0:05:48.160 around November. 0:05:48.680 --> 0:05:51.400 Yeah, that was like November. 0:05:50.880 --> 0:05:53.880 Actually late October. It was late October. No, it was 0:05:53.880 --> 0:05:57.320 like November November. It was November. So I'm like, all right, cool. 0:05:57.839 --> 0:06:00.360 So I found out this app called coin bay where 0:06:00.360 --> 0:06:02.640 you can buy cryptocurrency. Right, So he educated me and 0:06:02.680 --> 0:06:04.560 he was telling me about like the three biggest currencies 0:06:04.560 --> 0:06:08.960 at that time, which is light coin, Bigcoin, and Ethereum. 0:06:09.760 --> 0:06:12.080 So he's telling me about it. So I'm like, all right, 0:06:12.120 --> 0:06:13.719 you know what I'm gonna put my money in. I 0:06:13.760 --> 0:06:15.680 put six thousand dollars and I told the group. I 0:06:15.680 --> 0:06:17.520 told the guys. I'm like, look, I put six thousand 0:06:17.520 --> 0:06:20.240 dollars and I spread it across the three coins. I'm like, 0:06:20.320 --> 0:06:22.720 I'm not telling y'all to do this. This is money 0:06:22.760 --> 0:06:25.800 that I feel comfortable losing because it's a risk. Like 0:06:26.160 --> 0:06:28.760 I feel comfortable losing it if I lose it. But 0:06:28.880 --> 0:06:31.280 I don't know what's gonna happen. So then me and 0:06:31.560 --> 0:06:34.640 Jamaal we go to Asia for a month. 0:06:34.760 --> 0:06:38.000 Right, this is now December. Yeah, we went to Asia. 0:06:37.839 --> 0:06:41.440 For twenty days in December. First we left for twenty days. 0:06:41.600 --> 0:06:44.160 Don't let that go over your heads. Twenty days. 0:06:44.240 --> 0:06:46.200 Now, I let a life you can write a book on. 0:06:46.440 --> 0:06:49.040 I'm gonna write a book down a life done. But 0:06:49.400 --> 0:06:53.960 we went to Asia with a return ticket. We went 0:06:54.000 --> 0:06:57.040 with a ticket there and a ticket back and two 0:06:57.200 --> 0:06:59.600 nights in bang Kak. That's it for twenty days. Were 0:06:59.600 --> 0:07:01.720 gonna figure as we went. We just winged it. We 0:07:01.760 --> 0:07:03.840 went to five different countries. Was just winging it as 0:07:03.839 --> 0:07:06.760 we were literally winging it, like we were buying hotels 0:07:06.880 --> 0:07:08.560 at the airport. He was just figuring it out day 0:07:08.600 --> 0:07:11.480 to day. So I'm in Asia and it's just so 0:07:11.640 --> 0:07:14.320 happened as fate would have it. I brought into the 0:07:14.360 --> 0:07:17.560 crypto space like one week before it started the skyrocket. 0:07:17.600 --> 0:07:22.800 But if anybody's not familiar, No, December of twenty seventeen 0:07:22.880 --> 0:07:25.440 is legendary in crypto world. Like everything went up like 0:07:25.440 --> 0:07:28.320 a thousand percent one hundred like it was crazy. So 0:07:28.640 --> 0:07:31.200 long story short, I'm in Asia and I had six 0:07:31.240 --> 0:07:33.520 thousand dollars invested. Every single day I'm waking up and 0:07:33.520 --> 0:07:36.000 I'm just getting five hundred, six hundred more dollars is 0:07:36.000 --> 0:07:38.200 going up seven thousand and eight thousand. 0:07:38.200 --> 0:07:39.160 That it's just doping. 0:07:39.240 --> 0:07:45.200 Mean, yeah, yeah, I'm out and I'm out in Thailand, 0:07:45.760 --> 0:07:48.160 and I'm more focused on that than anything. I'm like, 0:07:48.240 --> 0:07:49.880 this is crazy. I'm like, I'm about to make a 0:07:49.920 --> 0:07:53.280 million dollars before summer. So Troy starts so I'm like, 0:07:53.320 --> 0:07:55.520 I'm telling the guys. I'm like, I'm sending them screenshots 0:07:55.600 --> 0:07:59.160 like I don't know what y'all doing. I'm getting money 0:07:59.160 --> 0:08:02.960 out here. So troys like he starts studying it, like 0:08:03.360 --> 0:08:05.320 he's start one thing about toys good with research. So 0:08:05.360 --> 0:08:07.440 he starts studying it like he's up all night and 0:08:07.480 --> 0:08:09.440 no sleep, and he starts telling me about all these 0:08:09.440 --> 0:08:12.720 other coins, Tron and all of these different things. And 0:08:13.400 --> 0:08:16.120 by meanwhile, I'm thinking I'm doing good because I'm going 0:08:16.160 --> 0:08:18.040 up like one hundred percent, three hundred percent, four hundred. 0:08:18.200 --> 0:08:20.120 He's like that's not enough. He's like, yeah, you earn him, 0:08:20.160 --> 0:08:21.880 but that's not enough. These other coins going up one 0:08:21.920 --> 0:08:25.400 thousand percent, three thousand percent. He's like, you got to 0:08:25.400 --> 0:08:27.880 come home, Like I've never forgot. I was in Hong Kong. 0:08:28.000 --> 0:08:30.480 I was in Hong Kong, and he called me. 0:08:30.720 --> 0:08:33.959 Like come home. This is this is like fact, right, 0:08:34.040 --> 0:08:37.400 So I heard about bitcoin prior to all this, right, 0:08:37.400 --> 0:08:41.600 because I was in the music downloading the services. Right, 0:08:42.240 --> 0:08:45.720 So at that time, the US has said early two thousand, 0:08:45.720 --> 0:08:48.760 they were like, yo, they're going to prohibit illegal downloads. Right, 0:08:48.800 --> 0:08:51.600 So that people started coming up with web sharing sites 0:08:51.679 --> 0:08:54.719 like mega upload, rapid shit, if anybody downloaded music, you 0:08:54.760 --> 0:08:57.120 know those sites. And one of the things as far 0:08:57.120 --> 0:09:00.120 as payment was bitcoin, right, and there's no way that 0:09:00.160 --> 0:09:01.920 the government can track you. So I'm like, all right, 0:09:02.160 --> 0:09:04.600 that sounds pretty cool. And then I never heard about 0:09:04.640 --> 0:09:06.880 it again. Right, people were using it. I kept seeing it. 0:09:06.920 --> 0:09:09.080 I never heard about it until like November, and I 0:09:09.200 --> 0:09:11.120 was like, yo, I'm putting money in. Like he's like 0:09:11.160 --> 0:09:13.959 two weeks from leaving. I'm like, hey, whatever, And then 0:09:14.120 --> 0:09:15.800 like he said, he started texting us. I'm like, yo, 0:09:15.840 --> 0:09:17.920 just he actually made some money. So now it's like, nah, 0:09:17.960 --> 0:09:21.200 I gotta figure this out. So he leaves and I'm 0:09:21.200 --> 0:09:23.000 like still trying to figure this out. I'm studying it 0:09:23.000 --> 0:09:24.760 and studying it, and like I never forget. I read 0:09:24.800 --> 0:09:27.000 the artist this article on this dude, Justin's son who 0:09:27.440 --> 0:09:31.320 created trying t rex, and so I'm like, wow, this 0:09:31.360 --> 0:09:35.120 guy has a vision for currency, Like he's going to 0:09:35.200 --> 0:09:37.520 do it through video games, right, I'm thinking, like, wow, 0:09:38.320 --> 0:09:40.360 like Guys of War, like these are these games where 0:09:40.400 --> 0:09:42.760 it's like it's not real money anymore, like people are 0:09:42.800 --> 0:09:46.280 actually using currency inside of games. It's like how before Fortnite, 0:09:46.600 --> 0:09:48.320 it was like, yo, we'll give you a game for free, 0:09:48.360 --> 0:09:50.719 but you'll buy things in it. And I'm like, all right, well, 0:09:50.720 --> 0:09:53.360 how do I get this? Right? So after I start 0:09:53.400 --> 0:09:55.839 studying it, right, I knew Coinbase and I'm like, this 0:09:55.960 --> 0:09:57.680 gotta be more to this because I can't even find 0:09:57.679 --> 0:10:00.520 t rex on Coinbase, and so I still and then 0:10:00.520 --> 0:10:03.839 I hear this this this company called Binance, And when 0:10:03.840 --> 0:10:05.560 I went to but I'm telling you, it was like 0:10:05.600 --> 0:10:07.800 three in the morning, I had to wait because they 0:10:07.800 --> 0:10:09.240 were on like yeah, twelve hours ahead. 0:10:09.840 --> 0:10:11.040 I was like twelve hours. 0:10:11.080 --> 0:10:14.600 I waited. I said, listen, get you on, y'all gotta 0:10:14.600 --> 0:10:17.079 come home. I was like, yo, book a flight back. 0:10:17.160 --> 0:10:21.520 I found something. I said, that's a fact. We found something. 0:10:21.760 --> 0:10:23.680 He kept talking about trying. He was like this, trying, 0:10:23.840 --> 0:10:24.040 like I. 0:10:24.040 --> 0:10:26.520 Don't know, man, about tron I was like, less than 0:10:26.520 --> 0:10:26.880 a cent. 0:10:27.000 --> 0:10:29.000 You know, it's funny, literally, you know you were like 0:10:29.040 --> 0:10:29.880 in the Homer Tronk. 0:10:30.000 --> 0:10:31.280 Yeah, exactly. 0:10:31.760 --> 0:10:34.600 I was right spot he just had to find that community. 0:10:34.800 --> 0:10:35.800 Yeah, it was crazy. 0:10:35.920 --> 0:10:38.120 I remember it was it was Hong Kong. Was Hong 0:10:38.160 --> 0:10:40.240 Kong because I remember in the background was all these lights. 0:10:40.240 --> 0:10:42.600 I was Hong Kong. I was like, Yo, Jamal almost 0:10:42.640 --> 0:10:46.200 died story first story, but a different days he almost died. 0:10:46.240 --> 0:10:49.400 But I was a Hong Kong by myself, and I 0:10:49.440 --> 0:10:51.640 had all these lights in the background. You like, come home. 0:10:51.640 --> 0:10:53.079 I'm like, I'm in Asian. I'm having the time of 0:10:53.120 --> 0:10:53.400 my life. 0:10:53.720 --> 0:10:54.559 Come home right now. 0:10:54.600 --> 0:10:58.760 So so we came home, and when I got home, 0:10:58.800 --> 0:11:00.880 the first thing I did, I came his house and 0:11:00.880 --> 0:11:03.160 he educated me on how to like buy buy coin. 0:11:03.160 --> 0:11:05.400 It's a whole process. We're gonna talk about that, but 0:11:05.679 --> 0:11:07.880 how to buy coins, how to put the money in. 0:11:08.000 --> 0:11:09.560 All that stuff, right, markets, all that. 0:11:09.640 --> 0:11:11.800 So then I sow. So anybody that knows me know 0:11:11.880 --> 0:11:14.839 that I kind of have an addictive personality. I've never 0:11:14.840 --> 0:11:17.559 done any drugs in my life, and I'm a light drinker, 0:11:18.120 --> 0:11:22.720 but I'm very compulsive. It's worked out a lot of times. 0:11:23.280 --> 0:11:24.720 It's been very bad for me a lot of times 0:11:24.760 --> 0:11:28.199 as well. But I make very compulsive decisions. So when 0:11:28.200 --> 0:11:30.840 I started, I started making money and I'm like, okay, 0:11:30.880 --> 0:11:32.680 so now educated myself on what we call all coins. 0:11:32.679 --> 0:11:35.000 We'll explain that later too. So then I just started, 0:11:35.000 --> 0:11:36.559 I'm like, you know what, I just started rolling the dice. 0:11:36.640 --> 0:11:39.640 I started like buying coins and doing on and hours. 0:11:39.720 --> 0:11:44.080 It was crazy. So by like the first week in January, 0:11:44.240 --> 0:11:47.520 my six thousand grew to twenty eight thousand, yep, twenty 0:11:47.520 --> 0:11:50.160 eight thousand dollars in a month, six thousand and twenty 0:11:50.200 --> 0:11:53.120 eight in a month. And I'm feeling like Warren Buffett. 0:11:54.240 --> 0:11:55.840 We said it to ourselves, We're like, yo, if we 0:11:55.920 --> 0:11:58.800 don't make one hundred thousand by June, we did something. 0:11:59.160 --> 0:12:02.200 Now that I was feeling out, I told you I 0:12:02.240 --> 0:12:05.240 was planning on making eight hundred thousand yea in crypto 0:12:05.760 --> 0:12:08.760 for that year. We calculated, calculations, did the whole thing. 0:12:10.760 --> 0:12:15.240 So everything wait, everything fell apart, not yet, no. 0:12:15.360 --> 0:12:17.960 No, no, early January it went, it went down, but 0:12:18.000 --> 0:12:20.160 then it came back like late January, like all right, 0:12:20.200 --> 0:12:22.320 we're back, we're back, right. 0:12:22.800 --> 0:12:26.600 I fell apart, I put more money in, I'm buy 0:12:26.640 --> 0:12:29.280 the dip, and then it fell apart again, and I 0:12:29.320 --> 0:12:31.440 put more money in. I said, I'm buying this dip. 0:12:31.800 --> 0:12:36.640 And then it just completely collapsed and. 0:12:35.559 --> 0:12:36.559 He gave up on the space. 0:12:36.640 --> 0:12:36.840 Yeah. 0:12:36.920 --> 0:12:39.760 So but I said this, I said this. I said, look, 0:12:40.679 --> 0:12:43.600 if it was gonna die, would them right? And one 0:12:43.600 --> 0:12:45.760 of the things I heard that was powerful to me 0:12:45.960 --> 0:12:48.840 is the CEO of Ripples said this. He was like, 0:12:49.040 --> 0:12:51.360 the reason that this is gonna work is because if 0:12:51.400 --> 0:12:54.320 you think about money, right, what's the fastest way to 0:12:54.400 --> 0:12:57.840 get one hundred thousand dollars from San Francisco to London? 0:12:58.400 --> 0:13:01.800 What do you think this is? It's crypto? He was like, 0:13:02.360 --> 0:13:05.560 the fastest way in today's society, right, twenty and eighteenth 0:13:06.679 --> 0:13:08.560 is to get on a plane and fly with that 0:13:08.640 --> 0:13:10.800 money to London. How is that work in the world 0:13:10.840 --> 0:13:13.959 of technology? Right, That's why Ripple and all these other 0:13:13.960 --> 0:13:16.000 old coins and bitcoin, that's why it's gonna work. And 0:13:16.000 --> 0:13:18.120 when he said that, I'm like, nah, I don't care. 0:13:18.280 --> 0:13:20.319 This is gonna go down. This is not going anywhere. 0:13:20.320 --> 0:13:22.040 And so like one of the things we did too, 0:13:22.200 --> 0:13:24.960 and for sure it was like we were like, look, 0:13:25.160 --> 0:13:27.679 we're not letting anybody get daft on the boat. Like 0:13:28.080 --> 0:13:31.319 if they missed the cyber bubble right in the nineties, right, 0:13:31.360 --> 0:13:33.600 if that is this, we got to make sure that 0:13:33.640 --> 0:13:35.600 we get to Google. We got to make sure that 0:13:35.840 --> 0:13:38.520 we get Amazon and we don't get stuck with Excite 0:13:38.559 --> 0:13:41.199 dot com. But we're not leaving anybody. So I was like, Yo, 0:13:41.280 --> 0:13:43.320 call everybody you know, Like we're gonna call everybody we 0:13:43.400 --> 0:13:45.200 know so we can tell them how this works and 0:13:45.240 --> 0:13:47.920 teach them. And like we made mad phone calls and 0:13:47.960 --> 0:13:51.200 it was like, Yo, nobody wants to learn. People ain't 0:13:51.520 --> 0:13:52.680 ain't players Like nah, I'm good. 0:13:52.800 --> 0:13:55.240 All right, So now we gave you my story. It's 0:13:55.240 --> 0:13:56.120 a tragic story. 0:13:57.520 --> 0:13:59.440 It's a learning Yeah. 0:13:59.800 --> 0:14:01.920 So all right, So can we talk about crypto leistart 0:14:01.960 --> 0:14:03.800 one on one? Right? What is cryptocurrency? 0:14:04.040 --> 0:14:09.080 So cryptocurrency is uh digital asset that lives on the 0:14:09.120 --> 0:14:15.319 Internet that has value and where does the vit come from? 0:14:15.480 --> 0:14:18.480 It comes from people saying it has value? Right, And 0:14:18.480 --> 0:14:21.960 it's that simple and so and it's that simple, but 0:14:21.960 --> 0:14:24.280 was also that fickle based on what you just said, right? 0:14:24.680 --> 0:14:26.800 And the question is like a lot of people say 0:14:26.880 --> 0:14:30.600 or houses the currency? How's inking occurrency? Anything is the currency? 0:14:30.640 --> 0:14:35.080 Because currency back by anything is a belief, right, and 0:14:35.280 --> 0:14:37.640 it's a belief that it's if more people believe that 0:14:37.680 --> 0:14:39.240 it's going to go up in the future, then more 0:14:39.280 --> 0:14:41.720 people buy. It's a supplying the main thing, and that's 0:14:41.720 --> 0:14:44.120 what kind of moves it. But yes, it's a digital 0:14:44.200 --> 0:14:49.760 asset that lives on the Internet and there's you could 0:14:49.840 --> 0:14:53.200 transfer it without any middle man, so you don't need 0:14:54.320 --> 0:14:56.640 the experience. Is similar to like a Venmo experience or 0:14:56.840 --> 0:14:59.880 zell experience or whatever cash experience. If you don't have cash, 0:15:00.040 --> 0:15:02.000 you don't have cash up in the middle. What's in 0:15:02.080 --> 0:15:05.920 the middle is actually a community people that validate every transaction. 0:15:06.160 --> 0:15:09.440 And it's so right, So that's the definition of the blockchain. Yes, 0:15:10.320 --> 0:15:12.000 it is validated by the blockchain exactly. 0:15:12.080 --> 0:15:13.880 So yeah, so crypto current. But the name is little 0:15:13.880 --> 0:15:16.320 deceiving because it's not really being used as currency right now. 0:15:16.320 --> 0:15:18.840 It's more of an investment, right right, So. 0:15:20.320 --> 0:15:25.280 It's an investment because due to people, due to the 0:15:25.600 --> 0:15:28.880 way it's moved and bigcoin being the first cryptocurrency, it's 0:15:28.960 --> 0:15:31.560 moving up and down based on the story you just said. 0:15:31.760 --> 0:15:33.520 People don't want to use it as a currency. So 0:15:33.960 --> 0:15:36.480 it's made to be a currency. It's made to allow 0:15:36.560 --> 0:15:39.760 people to move money back and forth. But because of 0:15:40.160 --> 0:15:42.600 the way it's structured. So bitcoin is structure in a 0:15:42.600 --> 0:15:45.000 way where there's a limited supply, right, it was a 0:15:45.040 --> 0:15:48.000 seventeen million, it's seventeen million now, but the max is 0:15:48.000 --> 0:15:51.720 twenty one million. So people are anticipating at that point 0:15:51.880 --> 0:15:53.880 that it's going to be worth a lot, and so 0:15:54.120 --> 0:15:56.080 it's kind of transferred from a currency to more of 0:15:56.120 --> 0:15:56.760 a digital goal. 0:15:57.240 --> 0:15:59.680 So it's like it's being viewed as a commodity. 0:16:00.080 --> 0:16:02.880 Value exactly, right. So that's what Jason told me. Yeah, 0:16:02.960 --> 0:16:05.000 so all right, because this is something that's interesting. So 0:16:05.080 --> 0:16:09.120 people say, like, well, cryptocurrency is in thin air, it's 0:16:09.200 --> 0:16:12.920 not physical, it's not backed by anything, and I say, 0:16:13.160 --> 0:16:16.040 neither is the American dollar. American dollar used to be 0:16:16.120 --> 0:16:19.600 backed by gold, but I think in Nixon he changed it. 0:16:19.800 --> 0:16:23.360 He removed the gold standard. So now the American dollar, 0:16:23.680 --> 0:16:26.480 like most all dollars all over the world, there's only 0:16:26.560 --> 0:16:28.440 back by the faith when in Americas, told by American 0:16:28.440 --> 0:16:30.840 American dollars only back by the faith of the people 0:16:32.080 --> 0:16:35.240 people think that it's worth what it's worth. So at 0:16:35.240 --> 0:16:37.520 any point in time, when the vast majority of people 0:16:37.640 --> 0:16:40.760 think the American dollar isn't worth anything, it's not worth 0:16:40.800 --> 0:16:41.320 anything any. 0:16:41.280 --> 0:16:43.120 Right, Because I mean it's like you said, with bitcoin, 0:16:43.160 --> 0:16:45.240 there's a limited supplied. Once it gets to twenty one million, 0:16:45.880 --> 0:16:47.680 there's no more, right, so that the value of that 0:16:47.760 --> 0:16:49.640 will go up obviously, right. So that's why you get 0:16:49.680 --> 0:16:52.120 those projections like bitcoin will be worth five hundred thousand 0:16:52.120 --> 0:16:55.360 dollars for one coin, whereas a dollar. They can make 0:16:55.640 --> 0:16:58.400 a million of those every second, exactly day. So like, 0:16:58.480 --> 0:16:59.280 what's the real value? 0:17:00.560 --> 0:17:03.680 Okay, so we have okay, So so bitcoin, that's what 0:17:03.760 --> 0:17:07.560 most people have heard about bitcoin. Bitcoin is the first crypto, 0:17:07.640 --> 0:17:12.920 the granddaddy of crypto currency, started by Shadoshi na Kamoto. 0:17:13.760 --> 0:17:16.440 Anybody found them in there's a lot of people. 0:17:17.440 --> 0:17:23.399 Nobody knows Satoshi Knockamoto. Did I say that correctly? 0:17:23.600 --> 0:17:26.280 That was good, bro, I got that was good. 0:17:27.560 --> 0:17:30.480 Anybody's not. The whole crypto thing is crazy. Anybody's not 0:17:30.600 --> 0:17:32.680 familiar to Guy's a legend. Nobody even knows that he's 0:17:32.800 --> 0:17:35.439 if he a actually ever really existed, or if he's 0:17:35.480 --> 0:17:37.680 a group of people, or if he's one person, or 0:17:37.680 --> 0:17:40.360 if he's still living, who knows. But he's the founder 0:17:40.880 --> 0:17:45.400 of crypto because he made bitcoin. Right then, from Bitcoin, 0:17:46.000 --> 0:17:49.399 you have thousands of cryptocurrencies, over two thousands. You have 0:17:49.480 --> 0:17:52.119 a whole bunch of different Ethereum to Ripple, and they 0:17:52.119 --> 0:17:53.920 all kind of serve different purposes. So you have some 0:17:54.320 --> 0:17:56.320 that are like for just music, you have it's like 0:17:56.400 --> 0:17:59.520 all kinds of differences like websites now, like you have 0:17:59.720 --> 0:18:02.160 a web site for everything, and you have a cryptocurrency 0:18:02.200 --> 0:18:02.600 for everything. 0:18:02.760 --> 0:18:04.840 Well, and then you have so like from those right, 0:18:04.920 --> 0:18:09.840 the top three you named Bitcoin, Ethereum, those are like platforms, 0:18:09.880 --> 0:18:13.359 so people build on those platforms. So like Ethereum like 0:18:13.560 --> 0:18:15.639 a bunch of platforms that get built on. There is 0:18:15.680 --> 0:18:17.960 like a digital computer, right right, you can build on 0:18:18.040 --> 0:18:21.679 top of it. You could the Ethereum introduce the concept 0:18:21.680 --> 0:18:25.760 of a smart contract, right. A smart contract is basically 0:18:26.200 --> 0:18:29.719 a digital contract that says if then if this happens, 0:18:29.800 --> 0:18:33.639 then this happens. Right, and uh, the way I like 0:18:33.680 --> 0:18:38.000 to illustrated is a vending machine is a smart contract, right, 0:18:38.480 --> 0:18:40.560 Like I don't need like I go to corner store 0:18:40.720 --> 0:18:43.399 and get a Twizzlers. If I go to vendom machine, 0:18:43.560 --> 0:18:46.240 I put a dollar in, there's code inside a venom 0:18:46.280 --> 0:18:51.120 machine that gives me the Twizzlers immediately. And Ethereum takes 0:18:51.200 --> 0:18:52.840 that and makes it a whole other level. 0:18:53.080 --> 0:18:55.240 Right. If you think about the Internet, most of the 0:18:55.720 --> 0:18:59.359 like any website anything. The way it works is if 0:18:59.400 --> 0:19:01.680 then if this and that. If I like going to 0:19:01.760 --> 0:19:04.840 Gmail dot com and I put in my password, if 0:19:04.920 --> 0:19:06.919 the pastor was good, then it gives me access. If 0:19:06.960 --> 0:19:09.320 the past was not good, then it tells me you 0:19:09.400 --> 0:19:13.800 got the gown pass. So the theorem was the first 0:19:13.840 --> 0:19:17.080 time to take that that cold and put it on 0:19:17.440 --> 0:19:21.080 the blockchain makes it, makes it decentralized because like what 0:19:21.240 --> 0:19:22.000 I did the Spain. 0:19:21.920 --> 0:19:23.960 That's a key word too, decentralized it right. 0:19:24.080 --> 0:19:27.440 So Google centralized, like it lives like the way that 0:19:27.600 --> 0:19:30.560 the code works lives on Google servers in Mountain View, California, 0:19:30.640 --> 0:19:32.920