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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. Lately, there has been

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Speaker 2: a lot of talk about bitcoin, the popular cryptocurrency which

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Speaker 2: is having a huge moment right now. But what actually

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Speaker 2: is bitcoin, how does it work? And is it a

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Speaker 2: good idea to get involved in? Today Victoria lays her

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Speaker 2: opinions on the table. Oh now, my name is Georgia King,

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Speaker 2: and joining me today for our cryptocurrency chat is financial

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Speaker 2: Advisor Victoria Define. Hello, Viki Dick. Hello, let's get straight

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Speaker 2: into it here, v with a little quick fire around.

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Speaker 2: What I want from you is one sentence answers only here,

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Speaker 2: so no v tangent straight.

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Speaker 3: This was not in the script.

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Speaker 2: But okay, okay, Victoria. Do you own any crypto? No?

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Speaker 3: I don't, Victoria.

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Speaker 2: Do you recommend crypto to any of your clients?

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Speaker 3: Absolutely not, Victoria.

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Speaker 2: Doesn't everyone who gets into crypto make heaps of money?

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Speaker 3: They absolutely do not. Okay, Well, we've really started on

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Speaker 3: a negative front.

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Speaker 2: But that's okay, setting the tone for things to come. Now,

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Speaker 2: let's jump in with the basics. What is cryptocurrency and

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Speaker 2: why does it seem like everybody in the world is

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Speaker 2: talking about bitcoin right now.

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Speaker 3: Okay, so everybody is talking about it because it has

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Speaker 3: had such a big surge in recent history. Right, So

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Speaker 3: it did have a big surge a couple of years ago,

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Speaker 3: and then it kind of dropped off a bit, and

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Speaker 3: now it's had another surge again. And now what I

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Speaker 3: need you to understand about this, and you need to

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Speaker 3: before I even explain what this is properly is for

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Speaker 3: you guys to understand the emotional investment journey. And we've

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Speaker 3: spoken about this on other podcasts, but essentially it's kind

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Speaker 3: of like stacks on. It's like you saying to me, Georgia,

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Speaker 3: oh my god, bitcoin, you need to buy crypto, and

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Speaker 3: I go, oh my god. Well, Georgia said, I need

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Speaker 3: to buy crypto, and there's a lot of excitement going around.

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Speaker 3: But what's happening is that excitement of you purchasing because

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Speaker 3: your friend was purchasing and you kind of didn't want

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Speaker 3: to miss out. You had a bit of fomo is

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Speaker 3: actually pushing the price higher because we're playing stacks on,

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Speaker 3: and that is not necessarily a good thing, because you

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Speaker 3: actually don't want to buy something while it's being saturated.

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Speaker 3: That's actually the point of maximum risk in investment. You

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Speaker 3: actually want to purchase when it's really low. That's not

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Speaker 3: to say you should be waiting for it to get

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Speaker 3: to low. We'll explain exactly what it is and why

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Speaker 3: I don't personally invest in it in this episode. So

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Speaker 3: now I'm not super negative when it comes to bitcoin.

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Speaker 3: Albeit I have just expressed a lot of negative views

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Speaker 3: about it in about a thirty second period, which is

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Speaker 3: quite impressive, to be honest. But the reason I don't

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Speaker 3: like bitcoin is because it doesn't fit any of my

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Speaker 3: client's risks profiles, and it genuinely is such a risky

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Speaker 3: asset to me, it is not worth it, regardless of

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Speaker 3: what the returns could potentially be. So jumping right into

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Speaker 3: what it is, cryptocurrency is a form of digital currency,

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Speaker 3: and it's based on what is called blockchain technology. So

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Speaker 3: all of that is a bit of a mouthful, but

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Speaker 3: essentially a blockchain is essentially like a checkbook that's shared

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Speaker 3: across an incredible number of computers around the world in

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Speaker 3: terms of where the blockchain's name comes from. All transactions

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Speaker 3: are recorded in what they call blocks, which are then

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Speaker 3: added to a chain of all previous transactions. It's a

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Speaker 3: distributed ledger sexy name that records all of the transactions

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Speaker 3: that have been made. Now, unlike regular types of currency

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Speaker 3: like dollars or yeens or pounds, cryptocurrency is what we

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Speaker 3: call decentralized, which means it's completely unregulated by any financial

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Speaker 3: authority and exists completely independently from the government or any

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Speaker 3: type of central bank. Now, decentralization, when you explain it

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Speaker 3: like that, does sound pretty good. It does have a

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Speaker 3: number of perks, like crypto currency being a global currency

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Speaker 3: with the same value everywhere in the world. Kind of cool,

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Speaker 3: especially in twenty twenty one. However, the flip side of

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Speaker 3: that is that cryptocurrency is extremely risky, which I mentioned before. Now,

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Speaker 3: if we look at stats in December twenty twenty, the

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Speaker 3: total value of all cryptocurrencies was he in excess of

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Speaker 3: six hundred and forty five point seven billion dollars. The

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Speaker 3: total value of bitcoins came to around four hundred and

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Speaker 3: twenty one billion dollars. So bitcoin is the key player here,

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Speaker 3: let's be brutally honest, but it's not the only type

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Speaker 3: of cryptocurrency. There are more than six seven hundred different

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Speaker 3: types of cryptocurrencies out there, according to a website we've

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Speaker 3: never referred to before called coin marketcap dot com.

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Speaker 2: I trust them so trustworthy.

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Speaker 3: Let's keep it. Don't question today?

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Speaker 2: Is bitcoin on everyone's lips? You mentioned before that it

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Speaker 2: has had that massive surge, but it's not the first

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Speaker 2: time we've heard of bitcoin. It was floating around a

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Speaker 2: couple of years ago, right.

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Speaker 3: Yeah, absolutely, And I think it would be naive of

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Speaker 3: me to say, oh, no, one's going to make money

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Speaker 3: with this, Like I genuinely know people in real life

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Speaker 3: who have made bank from buying bitcoin. I'm not saying

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Speaker 3: this is not something that if it appeals to you,

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Speaker 3: you shouldn't invest your money in. What you need to

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Speaker 3: understand is it is incredibly risky. Essentially, bitcoin could disappear

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Speaker 3: tomorrow and no one will be none the wiser the

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Speaker 3: end of the day. What happens if it gets taken down,

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Speaker 3: what happens if it gets deleted off the internet. Essentially

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Speaker 3: there is no basis for it. So if we talk

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Speaker 3: about a share in a company, let's take a bank,

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Speaker 3: because that's quite a bland example. You buy a share

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Speaker 3: of bank A and what that share gives you is

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Speaker 3: the ability to have some of their income and also

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Speaker 3: have some of their capital growth. And there is a

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Speaker 3: physical asset that is making that money. There are people

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Speaker 3: behind it making work. Whereas bitcoin, and we say bitcoin,

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Speaker 3: but that's like a brand of cryptocurrency cryptocurrency. There's nobody

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Speaker 3: actually making it work. It is something that has been

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Speaker 3: digitally created and we are as humans putting a value

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Speaker 3: on that.

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Speaker 2: And it's a currency.

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Speaker 3: It's a currency, so you can trade on the internet

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Speaker 3: with it. You can purchase things on the internet. It's

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Speaker 3: not as common as you know, being able to PayPal something, yeah,

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Speaker 3: but you can definitely purchase things. One of the reasons

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Speaker 3: why people on the internet especially love this and why

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Speaker 3: I guess it goes so far back. It's kind of

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Speaker 3: a little bit underground, right, So you could purchase bitcoins

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Speaker 3: to make anonymous purchases online, so you can imagine the

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Speaker 3: types of content that people are purchasing when you know,

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Speaker 3: you can be completely so it's not actually got good bases,

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Speaker 3: if that makes sense. So, like you know, decentralization is great,

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Speaker 3: having you know, the same value all around the world.

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Speaker 3: We're seeing all these positives. It's great. But the reason

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Speaker 3: a lot of people initially wanted it was to be

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Speaker 3: super anonymous and purchase things that potentially they shouldn't have

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Speaker 3: been purchasing online.

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Speaker 2: And what is the value of bitcoin right now?

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Speaker 3: Bitcoin is essentially back, I guess has gone in ebbs

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Speaker 3: and flows. But bitcoin is bad because of its recent

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Speaker 3: jump in value. Essentially it has gone up forty two

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Speaker 3: thousand dollars each bitcoin, not a little bit, not overall, like,

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Speaker 3: each bitcoin is now worth forty two thousand dollars more

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Speaker 3: than it was historically, which people seem to think is

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Speaker 3: the result of a wave of money from institutional investors,

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Speaker 3: which was propelled by COVID nineteen.

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Speaker 2: Right, okay, so tell us more about bitcoin. It's obviously

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Speaker 2: the largest form of cryptocurrency.

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Speaker 3: So the Bitcoin Market Journal, which is a real thing,

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Speaker 3: estimated that there are over one hundred million bitcoin users globally.

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Speaker 3: It was created more than a decade ago in January

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Speaker 3: two thousand and nine, which happens to be the year

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Speaker 3: I graduated high school Georgia, which turns out more than

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Speaker 3: a decade ago, which followed on from the financial crash

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Speaker 3: of two thousand and eight, which you guys would have

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Speaker 3: heard of as the GFC. Yes, it was designed as

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Speaker 3: an alternative to government and central banks controlling the money

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Speaker 3: and the economy, so kind of made a bit of

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Speaker 3: sense at the time. There are no actual physical bitcoin,

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Speaker 3: so when you buy bitcoin, you don't actually get a

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Speaker 3: piece of a bitcoin. There's no actual tangible cash. Instead,

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Speaker 3: it's just balances on a public transparent ledger system known

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Speaker 3: as blockchain. So that's where that comes in, which we

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Speaker 3: mentioned before, which is verified by an incredible amount of

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Speaker 3: computing power. So all of it is kind of and

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Speaker 3: you can look into it and understand it deeply, and

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Speaker 3: there are going to be a lot of people commenting

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Speaker 3: on this being like Victoria, you've really simplified it so

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Speaker 3: much more complex. Here's how it works. I get that.

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Speaker 3: I fully understand that. Please do not think for two

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Speaker 3: seconds that we haven't done our research here. I don't

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Speaker 3: fully understand it. But at the end of the day,

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Speaker 3: I genuinely don't believe that a lot of our listeners

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Speaker 3: understand what bitcoin is apart from a thing that you're

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Speaker 3: able to buy online that you know is worth a

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Speaker 3: lot and is a bit of a hype right now.

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Speaker 3: And I think it's a bit worrying because these types

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Speaker 3: of people who are saying, oh my gosh, well, I'm

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Speaker 3: going to buy a bitcoin. I've done my research. Like,

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Speaker 3: you don't understand your risk profile, you don't understand your

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Speaker 3: long term investment strategy, you don't understand what you should

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Speaker 3: actually be putting into a well diversified portfolio. Yet you're

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Speaker 3: jumping straight to the risky assasst that I believe you

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Speaker 3: could purchase.

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Speaker 2: Sure, And a lot of people would think that being

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Speaker 2: well researched means like how to chat with dad. Dad

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Speaker 2: bought a bitcoin. Now it's doubled in value. I'm going

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Speaker 2: to do it as well. That isn't actually proper research there,

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Speaker 2: so oh my.

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Speaker 3: Gosh, yes, And like, please do not get me wrong.

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Speaker 3: I have friends and I also have you know, acquaintances

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Speaker 3: in people that I know who have made more than

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Speaker 3: a million dollars from bitcoin. We're not talking they've made

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Speaker 3: a million dollars this year because they bought it, because

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Speaker 3: they're increased in value. I know people who bought it

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Speaker 3: when like I can't remember what it started off as,

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Speaker 3: but like they bought a bitcoin for eight bucks, right,

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Speaker 3: and they made bank.

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Speaker 2: So this is back in the day.

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Speaker 3: Like this is way back in the day. Like I

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Speaker 3: remember when I was in high school, I did circulate

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Speaker 3: with the cool kids who talked about blockchain technology, spent

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Speaker 3: all their time in the library, and at that point

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Speaker 3: they were talking about it really yep. And I remember

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Speaker 3: them talking about it in online forums and being like,

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Speaker 3: oh my gosh, this is the way of the future,

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Speaker 3: meeting like I don't get it.

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Speaker 2: Yeah yeah, yeah this wow.

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Speaker 3: Yeah. So at that point I literally had no idea.

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Speaker 3: But it has been around for a while, it definitely

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Speaker 3: has surged in popularity, and it's also come back again.

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Speaker 3: But I do believe the way it's come back is

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Speaker 3: because we're seeing institutions actually invest in this because they

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Speaker 3: see a future in it, which makes retail investors like

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Speaker 3: you are High Georgia a little bit more comfortable with

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Speaker 3: it because you're like, well, if big instos are backing it, well,

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Speaker 3: obviously it's safe. That does not mean that. It just

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Speaker 3: means they see a potential return that they want exposure to.

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Speaker 2: And can you talk a little bit more about the

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Speaker 2: hype around this and how much FOMO is really playing

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Speaker 2: into everyone buying into this right now?

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Speaker 3: I think people genuinely just want to be involved in

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Speaker 3: what they think is going to be the next big thing, Like,

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Speaker 3: don't get me wrong, I get fomo. When people start

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Speaker 3: really deeply talking about bitcoin, I'm like, oh, is it

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Speaker 3: worth it? Maybe? But at the same time, I know

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Speaker 3: me per I would not want to be exposed to that.

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Speaker 3: I'm very conservative. It is absolutely not something I should

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Speaker 3: be dabbling with or even playing with. But I do

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Speaker 3: know people who have done it and people who are

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Speaker 3: continuing to do it and enjoying it, So we're not

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Speaker 3: saying here that it is a really bad thing. I

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Speaker 3: think my negativity right now is actually coming from a

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Speaker 3: place of concern because I'm seeing so many people post

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Speaker 3: in our community and asking comments about like how do

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Speaker 3: I buy a bitcoin, and like we need to educate ourselves.

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Speaker 3: We need to have this conversation and just say, look,

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Speaker 3: this is great. It's a form of currency. It is

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Speaker 3: a form of currency that you're able to invest in.

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Speaker 3: But that form of currency has no physical basis. You

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Speaker 3: don't have a business behind it that maybe if they

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Speaker 3: don't make profit and you don't get dividends, like it's okay,

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Speaker 3: because the next year it might perform again, like it

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Speaker 3: could literally disappear, and that's one of the risks that

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Speaker 3: you're taking. And I think that people assume that the

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Speaker 3: share market is similar to that, when in reality it

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Speaker 3: absolutely isn't. And if you're only exposure to quote investing

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Speaker 3: is in bitcoin and cryptocurrencies and things that you can

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Speaker 3: actually lose significant amounts of cash, like, you're going to

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Speaker 3: be tainted by that. You're not going to feel comfortable

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Speaker 3: with investing, and you're going to put you know, your

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Speaker 3: financial future at a disadvantage because you don't actually fully

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Speaker 3: understand it.

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Speaker 2: Yeah, I think the fact that it's not backed by

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Speaker 2: any anything of substance is quite scary as well. When

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Speaker 2: I was reading up on bitcoin, it was just created

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Speaker 2: by some literally like some guy off the back of

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Speaker 2: the global financial crissis, and it's so elusive and like

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Speaker 2: he now doesn't exist and it's all it's it's weird.

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Speaker 3: So it's weird, and it is one of those things

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Speaker 3: that we can talk about until the cows come home.

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Speaker 3: But I just really wanted to talk about it so

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Speaker 3: that you guys know that we are addressing it at

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Speaker 3: the same time as going, oh, I'm not exactly going

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Speaker 3: to do an entire podcast on how to buy a

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Speaker 3: bitcoin and what type of asset it is, Like, I'm

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Speaker 3: currently doing this mini series of the four asset classes

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Speaker 3: that you can investing in Australia that are safe and

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Speaker 3: that are you know, going to be in line with

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Speaker 3: your invested profile once you work out what that is.

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Speaker 3: So we're talking cash, talking fixed interest, we're talking shares

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Speaker 3: and property. Those things, while they carry risk. When we

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Speaker 3: talk about risk, those risks are significantly different to the

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Speaker 3: type of risk that you take when you take your

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Speaker 3: hard earned money and put it into an asset that

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Speaker 3: you cannot trace on the internet.

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Speaker 2: It just feels like gambling to me, like I am

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Speaker 2: completely risk averse in every sense, and to me, I'm

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Speaker 2: just like, there's no way I would ever consider this,

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Speaker 2: but obviously a lot of people are, and that's why

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Speaker 2: we're talking about it. But I wanted to ask you

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Speaker 2: b what the history of bitcoin has been like, because

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Speaker 2: I know a few years back it did really boom

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Speaker 2: and everyone was talking about it, but then it plummeted.

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Speaker 2: The value just went straight on down and it was

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Speaker 2: kind of embarrassing and we were like, oh, Bitcoin, those

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Speaker 2: silly people, they are the geniuses. Yes they sold them

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Speaker 2: or trade them or however exactly.

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Speaker 3: And that's what we've got to remember. Like big coin

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Speaker 3: has some really high highs and some also really low lows.

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Speaker 3: And I think it's one of those assets that I

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Speaker 3: wouldn't want my share portfolio to look like that. So

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Speaker 3: if we're talking about historicals, at the end of twenty seventeen,

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Speaker 3: bitcoin traded it close to twenty thousand dollars, so when

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Speaker 3: we talk about bitcoins, we're talking about one bitcoin Georgia.

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Speaker 3: At the end of twenty seventeen, bitcoin was trading it

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Speaker 3: close to twenty thousand dollars per bitcoin, but twelve months

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Speaker 3: later it was only worth three thousand, two hundred dollars.

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Speaker 3: So if you went and purchased a twenty thousand dollar bitcoin,

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Speaker 3: you'd be, you know, maybe going home with your bat

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Speaker 3: and ball with your tail between your legs. But now

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Speaker 3: two years on from that, it's trading at super high

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Speaker 3: levels again, and one bitcoin is now worth forty two

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Speaker 3: thousand dollars, So it is having a very up and

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Speaker 3: down journey, but at the same time it is still

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Speaker 3: just as risky as it was historically. Now there are

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Speaker 3: going to be a lot of people that believe the

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Speaker 3: bitcoin is the way of the future, because, as we

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Speaker 3: were talking about before, it's a global currency like a

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Speaker 3: bitcoin today in Australia is worth exactly what a bitcoin

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Speaker 3: in London is worth. It is exactly what a bitcoin

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Speaker 3: in Africa is worth, and that's kind of cool that

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Speaker 3: we'd have a centralized currency system. Finally, the scary thing

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Speaker 3: for me is that centralized currency system has no basis.

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Speaker 3: We don't know where it came from, we don't know

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Speaker 3: how that bitcoin was made. And I'm sure there are

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Speaker 3: a lot of you know, really tech savvy people who

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Speaker 3: are going to turn around me and be like, well, Victoria,

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Speaker 3: and I get that. But if I, as a financial advisor,

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Speaker 3: who I would argue is relatively well educated, cannot understand

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Speaker 3: the basis of this investment or this business for me

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Speaker 3: to put my hard earned money into, it's a no

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Speaker 3: from me, So Georgia. At the end of the day,

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Speaker 3: this isn't a stable investment by any stretch of the imagination.

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Speaker 3: And though it increases and that sounds really exciting, it's

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Speaker 3: just an indicative of how volatile of an investment this is.

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Speaker 3: So I think that what we really need to take

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Speaker 3: from this is if you want to invest in bitcoin, fantastic,

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Speaker 3: But what I want you to do is go and

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Speaker 3: do your research. I want you to understand each and

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Speaker 3: every single aspect of it, the pros, the cons, whether

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Speaker 3: it works for you. And I think that you really

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Speaker 3: need to, as a human put yourself in the best

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Speaker 3: possible position and go, is there something that I'm willing

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Speaker 3: to risk? And you know what, if you are willing

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Speaker 3: to risk that money and say, all right, well, if

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Speaker 3: I invest in bitcoin, I want you to be comfortable

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Speaker 3: with the idea that you won't get any of that

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Speaker 3: money that you've invested back. And if you can't say

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Speaker 3: you're comfortable with that, don't do it. You're listening to

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Speaker 3: She's on the Money with Victoria Devine and Georgia King.

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Speaker 2: Now, please don't forget, guys, that the podcast is not

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Speaker 2: the only space you can find Victoria and the team.

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Speaker 2: We have a booming Facebook group, one hundred and thirty

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Speaker 2: thousand people in that wild.

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Speaker 3: How good is that? I know, I've got so many friends.

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Speaker 2: We have conversations like this one every single day, every

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Speaker 2: single hour, celebrating money wins, helping each other answer money dilemmas,

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Speaker 2: ad It's pretty much the most wholesome plus on the Internet.

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Speaker 2: I think it's safe to say.

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Speaker 3: People post pictures of their dogs and let us know

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Speaker 3: what their kids are up to. It's literally so wholesome.

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Speaker 2: So join us there if you're not there already, guys,

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Speaker 2: but let's get back into this chat with the serious stuff.

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Speaker 3: Fee.

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Speaker 2: We've heard a lot of hype about bitcoin lately, but

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Speaker 2: what are the dangers of bitcoin and other cryptocurrencies?

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Speaker 3: Like, at the end of the day, I feel like

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Speaker 3: I have covered this, so sorry to anyone listening at

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Speaker 3: home and doesn't want to hear me reiterate points over

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Speaker 3: and over. But at the end of the day, it

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Speaker 3: is extremely risky and it is volatile. If you're going

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Speaker 3: to invest, I just need you, like I really really

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Speaker 3: need you to be prepared to lose some more all

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Speaker 3: of your money. It's not really a question for me.

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Speaker 3: It's something that says you're actually taking a bit of

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Speaker 3: a punt on this. You could lose everything that you

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Speaker 3: put in, and I think that that is something that

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Speaker 3: you need to consider and go, Okay, well, if I

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Speaker 3: lost it all, it wouldn't hurt me. Maybe it's a

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Speaker 3: couple of one hundred dollars and you go, yep, that's

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Speaker 3: that's the risk I'm willing to take. But if it's not,

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Speaker 3: my friend, we shouldn't be doing that and to kind

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Speaker 3: of put this into some level of understandable framework. I

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Speaker 3: guess we can look at it from a profit and

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Speaker 3: lost angle. Right, if you invested in bitcoin at the

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Speaker 3: start of last year, you would have been sitting at

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Speaker 3: about three hundred percent profit by the end of twenty twenty.

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Speaker 3: So that's not bad. That's that's pretty quite good, it's

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Speaker 3: quite smart. But if you'd invested at the start of

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Speaker 3: twenty eighteen, and so many people did this is not uncommon,

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Speaker 3: that was a very high purchase time, and then you

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Speaker 3: sold at the end of that year, you would have

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Speaker 3: lost seventy three percent of your money, which is obviously

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Speaker 3: a massive fluctuation. But again, it's about when you get

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Speaker 3: into the market and when you get out of the

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Speaker 3: market and working out how to seize an opportunity, which

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Speaker 3: is not always clear. And I know that a lot

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Speaker 3: of people lost a lot of money because they thought

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Speaker 3: the bitcoin would go up and up and up and up,

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Speaker 3: and they left their money and what go up, even

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Speaker 3: though they should have pulled it out and you know,

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Speaker 3: just taken their profits and run, they didn't, and they

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Speaker 3: lost a lot. And like, I'm just not I'm not

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Speaker 3: a risky person. My friends and literally, just like anything,

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Speaker 3: the value of cryptocurrency is can I start calling it? Crypto?

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Speaker 3: Are cool enough? The value of crypto is tied to

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Speaker 3: supply and demand, but it's super difficult to determine what

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Speaker 3: will actually drive up and down the price beyond that,

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Speaker 3: which makes it super risky because we can't say, oh, okay,

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Speaker 3: new problems, like this industry's done really well, therefore we'll

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Speaker 3: probably see an increase in price. Like we literally don't

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Speaker 3: know what drives bitcoin or crypto for that better.

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Speaker 2: Now, you said earlier that you have not invested in

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Speaker 2: crypto or biggoin you don't intend to. I feel like

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Speaker 2: we are getting a sense of why, But are there

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Speaker 2: any other reasons you haven't mentioned yet?

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Speaker 3: To be honest, it just feels really risky and not

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Speaker 3: something that I'm going to be adding to my portfolio

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Speaker 3: in the near future or at all. I just don't

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Speaker 3: believe in owning bitcoin because it just doesn't align to

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Speaker 3: my values and what I'm looking to achieve. And I'm

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Speaker 3: definitely one of those people that looks at my investment

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Speaker 3: portfolio and I much prefer, you know, my portfolio is

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Speaker 3: earning more than this, but i'd much prefer a steady

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Speaker 3: income stream of five percent growth every single year than

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Speaker 3: the three hundred percent growth with the chance to lose

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Speaker 3: seventy three percent of my money. Like, I just don't

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Speaker 3: want to put myself in those shoes.

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Speaker 2: And you don't think it's the future of finance in

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Speaker 2: any way.

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Speaker 3: Once I see some more serious statistics and some more

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Speaker 3: big names getting behind it and really understanding what that

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Speaker 3: looks like. Sure, right now it doesn't make a lot

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Speaker 3: of sense to me.

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Speaker 2: And what would you say is a safer alternative? If

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Speaker 2: people are super excited by the high return that bitcoin

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Speaker 2: seems to be providing, but there may be thinking it's

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Speaker 2: not a good choice.

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Speaker 3: Now, Well, we're all really excited about really high returns, right,

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Speaker 3: Like I said, cause the money. But I said to you, hey, Georgia,

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Speaker 3: put all your money here, you'll get five hundred percent return.

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Speaker 3: You'd be like, okay, But like that's really scared. Like

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Speaker 3: at the end of the day, there isn't a safe

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Speaker 3: or alternative that is going to give you any level

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Speaker 3: near that return. If I told you the best investment

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Speaker 3: in the world, it's business. Having your own business is

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Speaker 3: the biggest and most well producing asset in the world.

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Speaker 3: That's what I heard say, And obviously I can't give advice.

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Speaker 3: But at the end of the day, like you're not

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Speaker 3: going to see something similar, there isn't a safe alternative

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Speaker 3: because if there was, you definitely wouldn't be getting three

436
00:21:28,800 --> 00:21:29,800
Speaker 3: hundred percent return.

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00:21:30,000 --> 00:21:34,640
Speaker 2: Yeah, I've decided that I want to buy a super yacht. Okay,

438
00:21:34,720 --> 00:21:37,320
Speaker 2: So I've been thinking that I want to start a business,

439
00:21:37,320 --> 00:21:39,639
Speaker 2: but all I can think of is cheese mungering. But

440
00:21:39,840 --> 00:21:41,280
Speaker 2: I also don't really know how to do that.

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00:21:41,600 --> 00:21:44,600
Speaker 3: Okay, this is new, this is different. Maybe we can

442
00:21:44,640 --> 00:21:45,520
Speaker 3: take this off line.

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00:21:46,680 --> 00:21:51,040
Speaker 2: Okay. So bitcoin is highly risky. It's not going to

444
00:21:51,040 --> 00:21:53,080
Speaker 2: help you buy a super yacht. I mean it might,

445
00:21:53,160 --> 00:21:56,000
Speaker 2: but probably not in a sustainable.

446
00:21:55,520 --> 00:21:57,360
Speaker 3: If you buy a super yacht, can I go on it?

447
00:21:57,440 --> 00:21:57,840
Speaker 2: Of course?

448
00:21:58,760 --> 00:22:01,159
Speaker 3: Will maybe go buy a super ya? Would your bitcoin profit?

449
00:22:02,119 --> 00:22:04,240
Speaker 2: So if anyone has listened to today's show and is

450
00:22:04,280 --> 00:22:08,040
Speaker 2: still thinking of going down the bitcoin line, they've already decided.

451
00:22:08,560 --> 00:22:10,320
Speaker 2: What words of wisdom would you leave them with?

452
00:22:10,440 --> 00:22:13,480
Speaker 3: Do your research? Understand what platform you're purchasing from. There

453
00:22:13,480 --> 00:22:16,200
Speaker 3: are lots of fake platforms that will take your money

454
00:22:16,560 --> 00:22:21,160
Speaker 3: and not produce a bitcoin for you. Understand the basis

455
00:22:21,200 --> 00:22:23,600
Speaker 3: of the investment and work out how long you are

456
00:22:23,600 --> 00:22:26,119
Speaker 3: going to be invested. Also have a chat to yourself

457
00:22:26,160 --> 00:22:29,040
Speaker 3: about when you're going to pull that money out, because

458
00:22:29,080 --> 00:22:32,280
Speaker 3: I think people get greedy and you don't think that

459
00:22:32,280 --> 00:22:34,000
Speaker 3: you're going to be that greedy person, but when you

460
00:22:34,040 --> 00:22:37,439
Speaker 3: see the numbers going up, like what's your number, that

461
00:22:37,480 --> 00:22:38,960
Speaker 3: you're going to take your money off the table?

462
00:22:39,000 --> 00:22:42,639
Speaker 2: App Okay, fabulous, well said. I think unfortunately it is

463
00:22:42,720 --> 00:22:45,280
Speaker 2: time to end our show there, but I think it

464
00:22:45,320 --> 00:22:47,600
Speaker 2: could be worth having this conversation continuing it.

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00:22:47,680 --> 00:22:49,920
Speaker 3: On the face, look, it's really interesting. It's a little

466
00:22:49,920 --> 00:22:52,280
Speaker 3: bit pervy. But summary of all of this, I want

467
00:22:52,280 --> 00:22:54,480
Speaker 3: you to understand that it is not something I endorse,

468
00:22:54,560 --> 00:22:56,239
Speaker 3: but if you want to have chats about it, I

469
00:22:56,320 --> 00:23:00,160
Speaker 3: am here for that. Just before we head off, i'd

470
00:23:00,200 --> 00:23:03,359
Speaker 3: like to acknowledge and pay respects to Australia's Aboriginal and

471
00:23:03,400 --> 00:23:07,000
Speaker 3: tourist rate islander peoples, the traditional custodians of the lands,

472
00:23:07,080 --> 00:23:10,640
Speaker 3: the waterways and the skies all across Australia. We thank

473
00:23:10,680 --> 00:23:12,840
Speaker 3: you for sharing and for caring on the land which

474
00:23:12,920 --> 00:23:15,600
Speaker 3: we are able to learn. We pay our respects to

475
00:23:15,680 --> 00:23:18,240
Speaker 3: elders past and present and we share our friendship and

476
00:23:18,400 --> 00:23:20,200
Speaker 3: our kindness, and.

477
00:23:20,280 --> 00:23:22,600
Speaker 2: Of course please remember guys that the advice sheared on

478
00:23:22,720 --> 00:23:24,760
Speaker 2: chees on the money is general in nature and does

479
00:23:24,800 --> 00:23:28,560
Speaker 2: not consider your individual circumstances. She's on the money exists

480
00:23:28,600 --> 00:23:31,600
Speaker 2: purely for educational purposes and should not be relied upon

481
00:23:31,600 --> 00:23:34,119
Speaker 2: to make an investment or a financial decision, or.

482
00:23:34,119 --> 00:23:36,280
Speaker 3: Any decision about bitcoin full stop industry.

483
00:23:36,359 --> 00:23:38,879
Speaker 2: That is correct and we promise. Victoria Divine is an

484
00:23:38,920 --> 00:23:42,800
Speaker 2: authorized representative of Australia Pacific Funds Management for prior toly

485
00:23:42,840 --> 00:23:45,480
Speaker 2: Limited ABN three four one three two four six three

486
00:23:45,480 --> 00:23:48,239
Speaker 2: two five seven. Whoa afsir three three nine one.

487
00:23:48,880 --> 00:23:50,080
Speaker 3: You did that in one test.

488
00:23:50,119 --> 00:23:50,720
Speaker 2: That's pretty good.

489
00:23:50,800 --> 00:23:51,800
Speaker 3: That was truly impressive.

490
00:23:52,240 --> 00:23:54,920
Speaker 2: Big thank you of course to Brian Beck and Jess

491
00:23:54,920 --> 00:23:58,399
Speaker 2: our producer and content wizards. We're putting it all together.

492
00:23:58,720 --> 00:23:59,320
Speaker 2: Bring up with us.

493
00:23:59,400 --> 00:24:01,399
Speaker 3: Yeah, like, any if anyone thinks that their four year

494
00:24:01,440 --> 00:24:06,159
Speaker 3: old child, could you know, do the general general advice

495
00:24:06,240 --> 00:24:09,199
Speaker 3: disclaimer for us and would like to record that on

496
00:24:09,240 --> 00:24:12,080
Speaker 3: their phone. I will happily have a four year old

497
00:24:12,240 --> 00:24:12,600
Speaker 3: read that.

498
00:24:12,640 --> 00:24:15,119
Speaker 2: I feel like we need to hear that time lits

499
00:24:15,200 --> 00:24:16,320
Speaker 2: that it's.

500
00:24:16,160 --> 00:24:19,120
Speaker 3: Actually so wholesome and you know, what else is wholesome

501
00:24:19,320 --> 00:24:21,960
Speaker 3: and we've plugged it before. It's our Facebook group where

502
00:24:22,000 --> 00:24:25,240
Speaker 3: our community shares money tips and tricks every single day,

503
00:24:25,280 --> 00:24:28,119
Speaker 3: free of judgment. So she's on the money on Facebook

504
00:24:28,119 --> 00:24:30,800
Speaker 3: and join us. If Facebook's not your thing, we kind

505
00:24:30,800 --> 00:24:34,000
Speaker 3: of don't care. We're also on Instagram though, and we're

506
00:24:34,040 --> 00:24:37,320
Speaker 3: on TikTok at. She's on the money a us. Don't

507
00:24:37,320 --> 00:24:40,520
Speaker 3: forget to rate, review, subscribe because all of that keeps

508
00:24:40,640 --> 00:24:42,560
Speaker 3: us in the charts and make sure that we can

509
00:24:42,640 --> 00:24:45,800
Speaker 3: keep producing this content for you each and every single week.

510
00:24:45,600 --> 00:24:48,119
Speaker 2: And it'll get me closer to buying that super hoest.

511
00:24:47,920 --> 00:24:50,159
Speaker 3: Yeah, which is arguably the most important.

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00:24:49,760 --> 00:24:52,160
Speaker 2: Sp Until next week, guys.

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00:24:52,200 --> 00:25:07,040
Speaker 3: Bye,