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How to Start Investing in Bitcoin & Crypto: Everything You Need to Know! Step-by-Step Guide · Earn Your Leisure

• 0:01
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• 1:53
  Speaker 3: Yeah.
• 1:54
  Speaker 2: Yeah, we bat, we bat, we bet, we live.
• 1:57
  Speaker 4: Let's get it.
• 1:58
  Speaker 2: What's going on, folks? Happy?
• 2:02
  Speaker 1: It is a chilea day here in the northeast shot
• 2:05
  Speaker 1: everybody everywhere in the world.
• 2:07
  Speaker 2: It could have been anywhere in the world.
• 2:08
  Speaker 1: But you're here with us tonight, man, and you're in
• 2:10
  Speaker 1: for an absolute treat. Bitcoin is a talk of the town.
• 2:16
  Speaker 4: That's a fact. That's a fact.
• 2:19
  Speaker 5: So much stuff going on, and you know, we've we've
• 2:21
  Speaker 5: done this a few times, but we'll do it again.
• 2:25
  Speaker 5: I think this is actually the third time where we
• 2:26
  Speaker 5: kind of had this conversation. I know we did it
• 2:29
  Speaker 5: during the pandemic with Justin and I believe we did
• 2:31
  Speaker 5: it one other time.
• 2:32
  Speaker 4: We've talked about crypto.
• 2:33
  Speaker 5: A lot, but we have like actual boot camp as
• 2:36
  Speaker 5: far as like explaining it, breaking it down.
• 2:39
  Speaker 4: Yeah, so this is a time to do it again.
• 2:42
  Speaker 5: You know, every two years, it seems like we have
• 2:44
  Speaker 5: this conversation because that's when the boat run happens. But
• 2:47
  Speaker 5: so many people are interested in cryptocurrency, specifically bitcoin, and
• 2:51
  Speaker 5: it's intimidating.
• 2:52
  Speaker 4: I put it on Instagram.
• 2:53
  Speaker 5: A three percent of Americans still are not invested in
• 2:57
  Speaker 5: any form of cryptocurrency ever, So today we're going to
• 3:01
  Speaker 5: go over the ins and outs everything you need to
• 3:06
  Speaker 5: know so you can make an informed decision if you
• 3:08
  Speaker 5: want to start to actually put some money into crypto.
• 3:11
  Speaker 2: Yeah, that's a fact.
• 3:13
  Speaker 1: The more that we see it run up, the more
• 3:15
  Speaker 1: people are interested. That starts coming up on every news feed.
• 3:18
  Speaker 1: Your parents are talking about it, your grandparents are talking
• 3:21
  Speaker 1: about it, your kids.
• 3:21
  Speaker 2: Want to know about it. But most people don't have
• 3:23
  Speaker 2: the education. And so it's funny.
• 3:26
  Speaker 1: I found I read some comments today like y'all finally
• 3:28
  Speaker 1: want to talk about it now that it's up a
• 3:29
  Speaker 1: little nd over one hundred thousand.
• 3:32
  Speaker 2: I'm like young and you haven't been here since the beginning.
• 3:35
  Speaker 2: We actually spoke.
• 3:35
  Speaker 1: About it in one of our early episodes with with
• 3:38
  Speaker 1: our Fitzitzpatrick was it Fitzpatrick Charleston Patrick. Yeah, so that
• 3:44
  Speaker 1: was early on Green Table, Shotgun Mice. We were talking
• 3:48
  Speaker 1: about cryptocurrency even back then. This is twenty nineteen. So
• 3:51
  Speaker 1: if you're a newcomer, go back and do a little homework.
• 3:54
  Speaker 1: But tonight we're gonna give y'all is this is one
• 3:57
  Speaker 1: of the ones where you're gonna get all the information
• 3:59
  Speaker 1: that you need to know to making forum decisions going forward. So,
• 4:02
  Speaker 1: like we said, whenever I tell you what to invest in,
• 4:05
  Speaker 1: we're gonna give you all the information that you can
• 4:06
  Speaker 1: make an intelligence intelligent decision. And tonight is one of
• 4:10
  Speaker 1: those ones where intelligence will be displayed at a high level.
• 4:14
  Speaker 5: All right, all right, so let's let it marin. They
• 4:18
  Speaker 5: hit the light button and share. So we're going to
• 4:21
  Speaker 5: bring our good friend up, Caleb Silver, who is the
• 4:25
  Speaker 5: editor in chief.
• 4:26
  Speaker 4: Oh, here you go. What's going on?
• 4:29
  Speaker 2: My brother? What's going on that you see that? You
• 4:37
  Speaker 2: see that shirt? Good?
• 4:39
  Speaker 4: The good e y l Polo.
• 4:42
  Speaker 3: They don't make these anymore. These are special limited.
• 4:45
  Speaker 4: Very rare. That's very rare.
• 4:47
  Speaker 5: Actually stitched Caleb, somebody who we connected with years ago
• 4:51
  Speaker 5: and just a brilliant mind as far as in the
• 4:54
  Speaker 5: world of finance editor in chief and Investorpedia site that
• 4:57
  Speaker 5: I've been using for years even before or Elisia. It's
• 5:01
  Speaker 5: a encyclopedia for anything financially related. So if you have questions,
• 5:04
  Speaker 5: like you could ask it what's the blockchain, what's crypto,
• 5:08
  Speaker 5: what's e ETF and uh, Investorpedia has all answers. And
• 5:13
  Speaker 5: we connected with with Caleb and then we did an
• 5:17
  Speaker 5: episode and then we had him on Market Mondays, and
• 5:22
  Speaker 5: we had them in London and we did invest Fast Europe.
• 5:25
  Speaker 5: Then we had him at invest Fest a few times. So,
• 5:27
  Speaker 5: I mean, he's done so many different things as far
• 5:30
  Speaker 5: as in person events and then also it's just been
• 5:34
  Speaker 5: a great resource. He's been able to connect us with
• 5:36
  Speaker 5: a lot of great people, a lot of you know,
• 5:41
  Speaker 5: high regard people you know, come through his uh, his network.
• 5:46
  Speaker 5: So he's he's been somebody that we've definitely you know,
• 5:50
  Speaker 5: utilized him as a resource and appreciate him for sure.
• 5:54
  Speaker 5: So when we wanted to have this conversation. I wanted
• 5:57
  Speaker 5: to just keep it very neutral and I want to
• 5:59
  Speaker 5: have you know, a sway towards one coin or try
• 6:04
  Speaker 5: to get people to invest like we really this is
• 6:08
  Speaker 5: purely for informational purposes only we're not trying to actually,
• 6:12
  Speaker 5: you know, pump a meme coin. We're not trying to
• 6:16
  Speaker 5: sell you anything. We're just trying to give you some information.
• 6:19
  Speaker 5: So he was the perfect person because you know that's
• 6:23
  Speaker 5: right up his alley. So here he is here, he is.
• 6:28
  Speaker 5: Thank you for joining us. Appreciate it.
• 6:30
  Speaker 3: It is an honor to be here. You guys have
• 6:32
  Speaker 3: done so much for financial education and for spreading the
• 6:36
  Speaker 3: good word, fighting the good fight out there more than
• 6:38
  Speaker 3: anybody I know, and it's really an honor to contribute
• 6:41
  Speaker 3: to the platform. I always feel blessed to be able
• 6:42
  Speaker 3: to join you and your audience, and so thanks for
• 6:45
  Speaker 3: having me. And this is pure education. This is what
• 6:47
  Speaker 3: I'm good at. I am not great at picking the
• 6:49
  Speaker 3: next great meme coin. I'm terrible at that, but I
• 6:52
  Speaker 3: am really good at trying to understand it. Because I
• 6:54
  Speaker 3: want to be an educated investor no matter what I do,
• 6:57
  Speaker 3: and this is an area where we all need more
• 7:00
  Speaker 3: and more education because the hype machine is in full effect.
• 7:03
  Speaker 3: You say, you're not here to pump coins. They don't
• 7:05
  Speaker 3: need your help. Those coins are being plenty on their own,
• 7:08
  Speaker 3: plenty of hot air under this market. But there's a
• 7:11
  Speaker 3: lot to learn and a lot to understand. So I
• 7:13
  Speaker 3: appreciate you sharing the platform and letting me bring some
• 7:16
  Speaker 3: some of the resources that I've used at investi Pedia
• 7:18
  Speaker 3: in other places to get a better understanding of this myself,
• 7:21
  Speaker 3: because I'm an investor in the space, but I am
• 7:24
  Speaker 3: by no means an expert. But I do think I
• 7:26
  Speaker 3: have a general understanding of it. I'm excited to share
• 7:29
  Speaker 3: it with your audience. Thank you.
• 7:31
  Speaker 4: That's a fact.
• 7:31
  Speaker 5: So yeah, I mean, you know the stages set cryptocurrency.
• 7:36
  Speaker 5: You know, our first experience with cryptocurrency was twenty seventeen,
• 7:41
  Speaker 5: and we had a collective group of guys then.
• 7:46
  Speaker 4: Just invested in crypto.
• 7:47
  Speaker 5: Everybody kind of invested in, you know, different amounts of money,
• 7:50
  Speaker 5: but at that time it Hey, that's why I just
• 7:54
  Speaker 5: think it's kind of works in cycles, because at that
• 7:56
  Speaker 5: time bitcoin was going crazy. And I remember me personally
• 8:01
  Speaker 5: when I first purchased bitcoin, it was five thousand dollars,
• 8:03
  Speaker 5: and I remember talking to my dad and he just
• 8:08
  Speaker 5: didn't understand it. He's like, why would you pay five
• 8:10
  Speaker 5: thousand dollars for something that's not even real, like five
• 8:14
  Speaker 5: thousand dollars five thousand dollars for bitcoin, Like that's that
• 8:20
  Speaker 5: doesn't even doesn't even make any sense, Like you can't
• 8:23
  Speaker 5: even comprehend.
• 8:26
  Speaker 3: Yeah, that would only get you twenty percent of a
• 8:28
  Speaker 3: bitcoin today.
• 8:29
  Speaker 1: Yeah, yeah, yeah, that was That was the time, and
• 8:32
  Speaker 1: at the time, I remember, I still remember that. I
• 8:34
  Speaker 1: remember when you purchased it. It was three things you
• 8:36
  Speaker 1: could buy. It was like light coin, ethereum, and bitcoin.
• 8:41
  Speaker 3: I bought them off.
• 8:42
  Speaker 6: Yeah, everybody was like, well, love, just buy them all.
• 8:44
  Speaker 1: We weren't really understanding of it. We saw that run
• 8:46
  Speaker 1: up up to seventeen thousand. It was like, this is
• 8:49
  Speaker 1: the game changing. I remember saying it's to a lot
• 8:50
  Speaker 1: of people. We don't want to get left on the
• 8:54
  Speaker 1: dock when this ship leaves, right, this is the airport.
• 8:57
  Speaker 1: We don't want to get left at the terminal when
• 8:59
  Speaker 1: this plane takes off, because it's gonna take off and slowly.
• 9:03
  Speaker 1: People were like, uh, kind of hesitant, kind of has
• 9:06
  Speaker 1: a tant And now I mean this this the ships.
• 9:09
  Speaker 6: Has it's leaving the dot.
• 9:11
  Speaker 1: Uh, So we got to make sure that we have
• 9:13
  Speaker 1: enough information that we're on this journey called bitcoin and
• 9:16
  Speaker 1: cryptocurrency and as a whole.
• 9:19
  Speaker 4: Yeah, so a long story short.
• 9:21
  Speaker 5: Obviously it's come a long way since then, from five
• 9:23
  Speaker 5: thousand dollars to one hundred, one hundred and one thousand dollars.
• 9:26
  Speaker 5: So let's let's go through this journey.
• 9:29
  Speaker 4: If we can hit the like button please and share.
• 9:33
  Speaker 5: But Hyler, but I know you you have some slides
• 9:35
  Speaker 5: and we're really gonna go full fledged education with this.
• 9:37
  Speaker 5: So what we're gonna do is we're gonna go through
• 9:39
  Speaker 5: some slides and then we'll ask some questions and then
• 9:41
  Speaker 5: we'll ask we'll take some questions from the audience and
• 9:43
  Speaker 5: people interested in the audience that have questions.
• 9:46
  Speaker 4: So yeah, I'll let you. I'll let you queue it up.
• 9:49
  Speaker 3: You know.
• 9:49
  Speaker 4: I guess you want to.
• 9:50
  Speaker 5: Start with this, you know, introduction, then from what bitcoin
• 9:52
  Speaker 5: and then just take it from there.
• 9:54
  Speaker 3: Cool, all right, let me make sure I can I
• 9:56
  Speaker 3: can move this all right?
• 9:56
  Speaker 1: Cool?
• 9:57
  Speaker 3: I can move them around? Well? Again, thank you for
• 9:58
  Speaker 3: having me investi Peda. It has been around for a minute.
• 10:01
  Speaker 3: We were founded in nineteen ninety nine. We're twenty five
• 10:03
  Speaker 3: years old, celebrated our twenty fifth anniversary this year, and
• 10:06
  Speaker 3: we've been educating investors about money, about investing, about personal finance,
• 10:12
  Speaker 3: about all the aspects of how to live with money
• 10:14
  Speaker 3: in your life, but especially about investing in wealth building
• 10:17
  Speaker 3: for a very long time. We are a free site.
• 10:19
  Speaker 3: Come on, come all. If you search something up on
• 10:21
  Speaker 3: the internet, like any of these terms, bitcoin, blockchain, proof
• 10:24
  Speaker 3: of workproof of stake, you're going to see our results
• 10:26
  Speaker 3: near the top because we've been doing this for a minute.
• 10:29
  Speaker 3: So we are delighted to be here, and I'm delighted
• 10:32
  Speaker 3: to represent as the editor in chief. I've been a
• 10:35
  Speaker 3: business journalist for thirty years, so i am not, as
• 10:38
  Speaker 3: I said, a crypto expert, a trading expert. What I
• 10:40
  Speaker 3: am good at is learning these ecosystems and then sharing
• 10:43
  Speaker 3: that information. So if you like what you hear, if
• 10:46
  Speaker 3: you want to hear more, follow us on invested Pedia,
• 10:48
  Speaker 3: follow me if you want. I do a lot of
• 10:50
  Speaker 3: this stuff, a lot of the front facing social education
• 10:54
  Speaker 3: stuff for investor Pedia, and I'm on TV and on
• 10:57
  Speaker 3: the radio, and I've been privileged to be on your
• 10:59
  Speaker 3: stage a few times as well, So let's get after
• 11:01
  Speaker 3: it everything and are most of the things I'm going
• 11:03
  Speaker 3: to talk about today I got from our guides on
• 11:07
  Speaker 3: bitcoin and cryptocurrency at investi Pedia, but I also grab
• 11:10
  Speaker 3: some resources from some other places. So if you're very
• 11:13
  Speaker 3: new to this for the first time and I'm talking
• 11:15
  Speaker 3: too fast or I'm saying things that go over your head,
• 11:17
  Speaker 3: hey throw it in the chat and say what does
• 11:19
  Speaker 3: that mean? B Scan this code so you have it
• 11:22
  Speaker 3: so you can look at our guide. It's pretty robust
• 11:24
  Speaker 3: on all things crypto, but especially bitcoin, which is sort
• 11:28
  Speaker 3: of the king of the coins in the cryptocurrency patch,
• 11:32
  Speaker 3: so to speak. So scan that, scan it now, scan
• 11:34
  Speaker 3: it later. But this is all free and easy stuff
• 11:36
  Speaker 3: to digest. If I go through something that you don't understand,
• 11:40
  Speaker 3: so I recommend you do that. Let's talk about bitcoin
• 11:42
  Speaker 3: itself again, the king of the coins, and guys interrupt
• 11:45
  Speaker 3: me as you see fit. But this is a cryptocurrency,
• 11:47
  Speaker 3: virtual money. Some people call it digital gold. But it
• 11:51
  Speaker 3: was created about fourteen years ago to be outside the
• 11:54
  Speaker 3: control of anyone person or group, so banks and governments
• 11:58
  Speaker 3: aren't needed to produce it, to regulated or oversee it.
• 12:01
  Speaker 3: And think about when it was formed and the ashes
• 12:03
  Speaker 3: of the Great Financial Crisis right Occupy Wall Street was
• 12:07
  Speaker 3: happening at the time. There was a lot of backlash
• 12:09
  Speaker 3: against banks too big to fail, a system that was
• 12:13
  Speaker 3: broken based upon mortgages that shouldn't have been carved up
• 12:17
  Speaker 3: and sold. Right, There was this lack of trust in
• 12:19
  Speaker 3: the financial system. So bitcoin was born out of that,
• 12:22
  Speaker 3: along with a lot of other technologies, but this was
• 12:24
  Speaker 3: the big one again when it was born. It was
• 12:27
  Speaker 3: born as a as a digital currency, but it was
• 12:31
  Speaker 3: really a software program and a problem solved by a
• 12:36
  Speaker 3: mysterious figure. Whether this person is an actual person, a
• 12:40
  Speaker 3: group of people, a consortium, a man, a woman, an alien,
• 12:43
  Speaker 3: we have no idea, but they go by the name
• 12:45
  Speaker 3: of Sutashi Nakamoto, right, the creator of the bitcoin currency,
• 12:49
  Speaker 3: who basically created this idea for this digital currency. Through
• 12:54
  Speaker 3: this white paper and scan the code if you want
• 12:55
  Speaker 3: to geek out and read it. It gets very dense,
• 12:57
  Speaker 3: very fast. But they they created it for a reason,
• 13:01
  Speaker 3: to create this currency that lived on a blockchain, a
• 13:03
  Speaker 3: digital ledger, away from government oversight, away from the big
• 13:07
  Speaker 3: bad banking institutions. So if you really want to get
• 13:10
  Speaker 3: into it, you can read about Sutoshi, or you can
• 13:12
  Speaker 3: read the white paper itself. I've only made it through
• 13:14
  Speaker 3: a few pages and it really knocks me out because
• 13:17
  Speaker 3: I'm just not that smart. But people that love to
• 13:19
  Speaker 3: geek out on computer programming really are into the white
• 13:22
  Speaker 3: paper and it makes a lot of sense for them.
• 13:23
  Speaker 3: But he created this idea for bitcoin to be this coin,
• 13:29
  Speaker 3: this currency that traded on the blockchain. You've probably heard
• 13:32
  Speaker 3: this name a lot, the blockchain. What is the blockchain? Well,
• 13:35
  Speaker 3: the blockchain is like a digital ledger. If you think
• 13:37
  Speaker 3: about you know, if you yet ran a small business
• 13:39
  Speaker 3: years ago, or you had parents that did it, and
• 13:41
  Speaker 3: they had the accounting sheet, the assets and liabilities, and
• 13:45
  Speaker 3: every transaction was recorded on a real ledger, on a
• 13:47
  Speaker 3: real piece of paper. This is a digital ledger, but
• 13:50
  Speaker 3: it's wide open to everybody, so all records are transparent
• 13:54
  Speaker 3: and it's impossible to alter. The blockchain. It is a
• 13:57
  Speaker 3: digital record of transactions, of work, of insurance. It's used
• 14:02
  Speaker 3: in a lot of different ways right now. And if
• 14:04
  Speaker 3: you think about the way cryptocurrencies in the blockchain are related,
• 14:08
  Speaker 3: think of the blockchain like the highway right right, the
• 14:11
  Speaker 3: highways built out there for all of us to get around,
• 14:13
  Speaker 3: and then the cryptocurrencies and the tokens are the vehicles
• 14:18
  Speaker 3: on that highway. So this is the underlying structure of
• 14:23
  Speaker 3: all of these cryptocurrencies. They're on this open blockchain where
• 14:26
  Speaker 3: we can see everything, and you're going to hear a
• 14:28
  Speaker 3: lot if you haven't already about centralized versus decentralized versus
• 14:32
  Speaker 3: distributed networks. This is only important so you get it conceptually.
• 14:36
  Speaker 3: But when you think about a centralized network, think about
• 14:39
  Speaker 3: like our banking system. Right, there's your bank, could be
• 14:42
  Speaker 3: city bank, could be chased, could be any bank of America, right,
• 14:46
  Speaker 3: but all banks are part of banking networks. Right. There
• 14:50
  Speaker 3: may be individual retail banks or chains of banks. But
• 14:52
  Speaker 3: in the middle of it all is the central bank, right,
• 14:55
  Speaker 3: the Federal Reserve. The Federal Reserve is the central bank
• 14:58
  Speaker 3: of the United States, and then our twelve regional central banks,
• 15:01
  Speaker 3: and then all banks have to work within their net,
• 15:05
  Speaker 3: within their rules. Right, So that's a centralized network right
• 15:09
  Speaker 3: in the middle. You got the big circle in the middle,
• 15:11
  Speaker 3: like a solar system and all the things running around it.
• 15:13
  Speaker 3: Our solar system is a centralized network if you think
• 15:15
  Speaker 3: of it that way. A decentralized network is what blockchain
• 15:19
  Speaker 3: is right. This is where it's open to everybody. Everybody
• 15:23
  Speaker 3: can see what's going on. There is no one person
• 15:26
  Speaker 3: or thing or entity and control of a decentralized network,
• 15:29
  Speaker 3: and that is the promise of the blockchain and ultimately
• 15:32
  Speaker 3: all the cryptocurrencies that are trading on it, that live
• 15:36
  Speaker 3: on it, or that are programmed into the software of it.
• 15:40
  Speaker 3: And then there's distributed networks. Think like your cell phone company, right,
• 15:44
  Speaker 3: their cell phone towers and their cell phone companies everywhere,
• 15:47
  Speaker 3: but they're distributed all over the place. So you have
• 15:49
  Speaker 3: your Sprint tower over here, and you have your AT
• 15:51
  Speaker 3: and T tower over here. That's a distributed network. But
• 15:54
  Speaker 3: for the purposes of understanding cryptocurrency and the blockchain, it's
• 15:57
  Speaker 3: really a decentralized network that you have to get your
• 15:59
  Speaker 3: mind around. Super important to understand what that is. So guys,
• 16:04
  Speaker 3: interrupted any time, but just so we can get through
• 16:06
  Speaker 3: some of these basis, because we're going to refer to
• 16:07
  Speaker 3: some of these words. Where's the blockchain being used today
• 16:10
  Speaker 3: in twenty twenty four and really for the past five
• 16:13
  Speaker 3: or six years. Well, one of the big reasons that
• 16:16
  Speaker 3: bitcoin was created and the blockchain became such a big thing,
• 16:19
  Speaker 3: especially in the wake of the Great Financial Crisis was
• 16:22
  Speaker 3: the ability to transfer money to people, either the unbanked
• 16:26
  Speaker 3: or the people that did not trust banks anymore that
• 16:28
  Speaker 3: wanted to just transfer funds. Right now, globally there's money
• 16:32
  Speaker 3: being transferred from one country to another. People here are
• 16:34
  Speaker 3: transferred back home to where their families are. Money transfer
• 16:38
  Speaker 3: has been a huge business, but you think about the
• 16:40
  Speaker 3: fees and the friction in a money transfer. If you're
• 16:43
  Speaker 3: transferring one hundred bucks, you know, to you know you're
• 16:47
  Speaker 3: at in Jamaica, You're probably going to pay fifteen bucks
• 16:49
  Speaker 3: on that for a money transfer fee, and there's multiple
• 16:51
  Speaker 3: layers or friction that it has to go through. So
• 16:53
  Speaker 3: the blockchain is used to sort of eliminate that, and
• 16:56
  Speaker 3: you can transfer bitcoin without paying a fee. Smart contracts
• 16:59
  Speaker 3: that's where the blockchains being used as well. Think about
• 17:01
  Speaker 3: insurance or real estate. How many, you know, stacks of
• 17:05
  Speaker 3: papers do we sign and fill out? And how many
• 17:07
  Speaker 3: files are there for one real estate transaction there are
• 17:11
  Speaker 3: hundreds of them. If you've ever bought a house or
• 17:13
  Speaker 3: a piece of property, you'll sign your name fifty or
• 17:15
  Speaker 3: sixty times and the PaperWorks all over the place. A
• 17:18
  Speaker 3: smart contract is on the blockchain. Everybody can see it.
• 17:20
  Speaker 3: They open it up like a digital file, Internet of
• 17:22
  Speaker 3: things very similar. You know, refrigerator knows when you're out
• 17:25
  Speaker 3: of milk, it's already placing the order for you.
• 17:27
  Speaker 2: Right.
• 17:28
  Speaker 3: This is blockchain less friction, sort of the digital world
• 17:32
  Speaker 3: connecting to itself. And then there's things like healthcare where
• 17:36
  Speaker 3: we're using blockchain logistics. Non fungible tokens you may have
• 17:39
  Speaker 3: heard of, right, Those live on a blockchain and you
• 17:41
  Speaker 3: trade those through through digital currencies like ethereum. Even the
• 17:45
  Speaker 3: government uses blockchain, and in the media we use blockchain
• 17:49
  Speaker 3: as well for file storage coming through files. Right, it's
• 17:52
  Speaker 3: already in use. So if you think about this infrastructure,
• 17:55
  Speaker 3: I think of it like a highway. It's already out
• 17:57
  Speaker 3: there and it's been out there for a number of years.
• 18:00
  Speaker 3: And I mentioned the fact that the blockchain is the highway.
• 18:03
  Speaker 3: But then the coins and the tokens are the vehicles
• 18:06
  Speaker 3: that trade on that highway and they serve different purposes.
• 18:08
  Speaker 3: So bitcoin is a coin obviously you know the name, right,
• 18:12
  Speaker 3: But then there are the things like tokens. Utility tokens
• 18:15
  Speaker 3: are dow tokens. Bitcoin is a digital currency similar to
• 18:18
  Speaker 3: a physical currency. But in the case of bitcoin, it's
• 18:22
  Speaker 3: not backed by anything, right, it's not a store of
• 18:25
  Speaker 3: value for something like gold. You can't base its value
• 18:27
  Speaker 3: off of you know, what it would trade in for gold.
• 18:30
  Speaker 3: But it does have a numer It does have a
• 18:34
  Speaker 3: number of a fee a dollar amount associated with it
• 18:38
  Speaker 3: that we'll talk about in a minute. But they operate
• 18:40
  Speaker 3: on their own blockchain with their own protocols. You can
• 18:43
  Speaker 3: use them as a source of payments. Bitcoin is the
• 18:45
  Speaker 3: big one, and Ethereum you've probably heard of that as well.
• 18:48
  Speaker 3: In coins, we talk about smart coins and we talk
• 18:51
  Speaker 3: about sort of dumb coins. Bitcoin's kind of a dumb coin,
• 18:53
  Speaker 3: not that it's a dumb technology. You just can't do
• 18:56
  Speaker 3: much with it, but collect it, trade it. Now you
• 18:59
  Speaker 3: can purchase things with it. Ethereum is a little bit smarter.
• 19:02
  Speaker 3: Tokens are a whole different thing. They don't necessarily operate
• 19:05
  Speaker 3: on their own blockchain. You can use them for payments
• 19:08
  Speaker 3: and for signing digital agreements. So think about that real
• 19:11
  Speaker 3: estate purchase, right, you may use tokens in a digital
• 19:15
  Speaker 3: blockchain world to complete or parts of that purchase or
• 19:18
  Speaker 3: part of that paperwork.
• 19:19
  Speaker 2: Right.
• 19:19
  Speaker 3: They're more useful, but they're not like a digital currency, right, really.
• 19:25
  Speaker 1: Quick because a lot of people when they hear crypto currency,
• 19:29
  Speaker 1: they hear bitcoin to hear blockchain, they think that they're
• 19:31
  Speaker 1: all the same thing. So I just want you to
• 19:33
  Speaker 1: touch on that just really quickly. Because blockchain is a technology. Obviously,
• 19:37
  Speaker 1: Bitcoin is a coin that operates on that technology.
• 19:40
  Speaker 6: Right, That technology exists in the real world.
• 19:42
  Speaker 2: Right.
• 19:43
  Speaker 1: You gave some great examples already, but I think people
• 19:45
  Speaker 1: just need to understand the differentiate too. Right, popchain is
• 19:48
  Speaker 1: going to exist and going to continue to exist in
• 19:51
  Speaker 1: all the things we do. Bitcoin a different thing, not
• 19:55
  Speaker 1: the same in the same sense. It's just that it
• 19:56
  Speaker 1: operates on it.
• 19:57
  Speaker 2: That's right.
• 19:58
  Speaker 3: Think of that highway metaphor, right, blockchains the highway Bitcoin is,
• 20:03
  Speaker 3: you know, one of the vehicles. Maybe it's a Cadillac
• 20:05
  Speaker 3: on that highway and old El Dorado because it's been
• 20:07
  Speaker 3: around for a long time, may be worth a lot
• 20:09
  Speaker 3: right now. But then there are faster cars, and then
• 20:11
  Speaker 3: there are cars that came out of nowhere, like a
• 20:12
  Speaker 3: doge coin really doesn't have anything backing it, but it's
• 20:16
  Speaker 3: kind of the fast car that speeds along the highway
• 20:18
  Speaker 3: and you're like, where did that go? So they're very different.
• 20:20
  Speaker 3: Blockchain is a very useful piece of technology. It's vast,
• 20:24
  Speaker 3: and it's in use already across the banking system. It's
• 20:27
  Speaker 3: very prevalent in the bond market, even in the stock
• 20:30
  Speaker 3: trading market. Blockchain is basically this massive digital infrastructure that
• 20:35
  Speaker 3: is being been built out for the past decade and
• 20:37
  Speaker 3: will be built out in through the next decade or two.
• 20:40
  Speaker 3: So the building of the blockchain is a very big deal.
• 20:43
  Speaker 3: Think of like the building of the American railroad. Think
• 20:45
  Speaker 3: about the building of the American Highway. This is what
• 20:47
  Speaker 3: blockchain is doing in the world of technology. And these
• 20:50
  Speaker 3: coins and these tokens and these dollar base coins, they
• 20:54
  Speaker 3: all trade on it, they all drive on it. You
• 20:56
  Speaker 3: need the blockchain for bitcoin to exist. If it weren't,
• 21:00
  Speaker 3: if the blockchain wasn't here, we would never have had
• 21:01
  Speaker 3: a bitcoin. So I'm giving you a massive list here
• 21:04
  Speaker 3: of a bunch of the cryptocurrencies, but there are literally
• 21:07
  Speaker 3: thousands of them. This is can look at it on
• 21:09
  Speaker 3: coin gecko dot com if you want. You can look
• 21:11
  Speaker 3: at all of the digital currencies that basically exist and
• 21:14
  Speaker 3: are trading right now. I just threw up thirty or
• 21:16
  Speaker 3: so of them. So because maybe you've seen a few
• 21:19
  Speaker 3: of them before, but Bitcoin rules the roost. It's the
• 21:21
  Speaker 3: biggest of them all. And then you have others like
• 21:23
  Speaker 3: ethereum and you have teather, and they all serve different purposes,
• 21:26
  Speaker 3: but Bitcoin's the big popular one that gets all the attention,
• 21:30
  Speaker 3: and it's got the biggest price tag. This is just
• 21:32
  Speaker 3: a way to look at a lot of the symbols
• 21:33
  Speaker 3: you may have seen before. I encourage you to do
• 21:35
  Speaker 3: your research on all of these, but we're going to
• 21:38
  Speaker 3: talk mostly about Bitcoin today because that's getting so much
• 21:41
  Speaker 3: of the attention. The thing about bitcoin, when it was
• 21:44
  Speaker 3: created by Satoshi Nakamoto, whoever that entity is, it has
• 21:48
  Speaker 3: a limited supply. If you go back and you read
• 21:50
  Speaker 3: that white paper, you read it on your own time.
• 21:53
  Speaker 3: The way that Satoshi whoever Satoshi was, set it up
• 21:55
  Speaker 3: was that there will only ever be twenty one million
• 21:58
  Speaker 3: bitcoins to be mine. And when I say mind, you
• 22:01
  Speaker 3: might be thinking of like gold mining, like literally going
• 22:04
  Speaker 3: underground and picks and shovels and digging into the earth
• 22:08
  Speaker 3: to extract gold. It's like that, but it's actually done
• 22:11
  Speaker 3: with software, and it's done with computing power, and it
• 22:14
  Speaker 3: takes a lot of energy. You may have heard stories
• 22:16
  Speaker 3: about how much it costs to have produced just one bitcoin.
• 22:19
  Speaker 3: In terms of energy, you could power a small city, right.
• 22:22
  Speaker 3: A lot of that's true, but it's getting a little
• 22:23
  Speaker 3: bit easier that the energy use is not as intense
• 22:28
  Speaker 3: as it used to be. But because there's only twenty
• 22:31
  Speaker 3: one million bitcoin that will ever be mined, that's a
• 22:34
  Speaker 3: limited supply, and that's one of the attractive features of bitcoin,
• 22:38
  Speaker 3: especially as we see it at these very high prices.
• 22:41
  Speaker 3: We're at about nineteen point eight million that have already
• 22:44
  Speaker 3: been mined. There are not that many more bitcoin to
• 22:46
  Speaker 3: be mine. The thing about bitcoin, though, because you have
• 22:49
  Speaker 3: to mine it solving a software equation or a math
• 22:53
  Speaker 3: equation with software, it gets harder and harder for programmers
• 22:57
  Speaker 3: to solve it. It takes a lot of computing power,
• 23:00
  Speaker 3: it takes a lot of smarts, and it takes a
• 23:01
  Speaker 3: lot of time. So as we get closer to twenty
• 23:04
  Speaker 3: one million and worried about nineteen point eight million, it
• 23:06
  Speaker 3: gets harder and harder to mind these things, which kind
• 23:09
  Speaker 3: of raises the value. Tighter supply, more difficult to produce.
• 23:13
  Speaker 3: That's helping boost the price, along with a bunch of
• 23:15
  Speaker 3: other factors. Right again, it's a supply demand issue. We're
• 23:20
  Speaker 3: here right now, and well we're here a little bit
• 23:22
  Speaker 3: further in twenty twenty four. Not that many more bitcoin
• 23:24
  Speaker 3: to be mined. A lot of it's already out there.
• 23:27
  Speaker 3: It's just more difficult to mind. And it has a
• 23:29
  Speaker 3: scarcity issue. When you have a scarce resource that a
• 23:32
  Speaker 3: lot of people are interested in, prices go up. I
• 23:34
  Speaker 3: don't care if we're talking about air Force ones. I
• 23:37
  Speaker 3: don't care if we're talking about, you know, a brand
• 23:39
  Speaker 3: new special iPhone. You know, scarcity of a product that
• 23:42
  Speaker 3: people want and are interested in always drives price. It's
• 23:46
  Speaker 3: supply demand and its mania and its hype, and bitcoin
• 23:50
  Speaker 3: has all of these aspects associated with it.
• 23:53
  Speaker 2: Right.
• 23:54
  Speaker 3: So, in terms of an asset something you can buy
• 23:58
  Speaker 3: and trade and invest in, well, bitcoin has ruled the
• 24:01
  Speaker 3: roost in the capital markets for the past ten years, really,
• 24:05
  Speaker 3: but in the past five years alone, just look at
• 24:07
  Speaker 3: the price appreciation of bitcoin. It just blows out all
• 24:11
  Speaker 3: these other things. I'm gonna read it if you can't
• 24:13
  Speaker 3: get if you can't see it close enough, Bitcoin's up
• 24:15
  Speaker 3: about one thousand, two hundred and ninety percent in the
• 24:17
  Speaker 3: past five years. Right, The s and P five hundred.
• 24:20
  Speaker 3: Our stock market, the five hundred biggest companies in America,
• 24:24
  Speaker 3: is up ninety one percent in the past five years. Guys,
• 24:26
  Speaker 3: that's outstanding, right, Those are great returns for stocks. But
• 24:30
  Speaker 3: when you look at bitcoin, it doesn't even compare the
• 24:32
  Speaker 3: Dow Jones industrials. They're not all industrials. That's up fifty
• 24:35
  Speaker 3: six percent. Gold and I use the ETF as the
• 24:38
  Speaker 3: proxy is up about seventy eight percent in the past
• 24:41
  Speaker 3: five years, and the dollar is up about ten percent.
• 24:44
  Speaker 3: So Bitcoin in terms of an investment, has returned a
• 24:47
  Speaker 3: lot more, generated a lot more what we call alpha
• 24:51
  Speaker 3: in our business because of this scarcity, because of the
• 24:54
  Speaker 3: interest in it, and a lot of that has come
• 24:57
  Speaker 3: in different waves. Rare Sean mentioned he first got introduced
• 24:59
  Speaker 3: to it in twenty sixteen. Twenty seventeen, bitcoin had already
• 25:02
  Speaker 3: been around. I remember back in twenty fourteen when it
• 25:04
  Speaker 3: was two bucks, and no, I didn't buy it because
• 25:07
  Speaker 3: I didn't understand it. But the more scarce it gets,
• 25:11
  Speaker 3: the more interest there is and the more adoption there
• 25:13
  Speaker 3: is by both investors like US, individual investors or institutional
• 25:18
  Speaker 3: investors like the fidelities of the world. The Black Rocks
• 25:21
  Speaker 3: of the world, the Goldman Sachses of the world, and
• 25:24
  Speaker 3: yes they're interested, and yes they're mining their own bitcoin. Well,
• 25:27
  Speaker 3: that's just going to drive price even higher. So in
• 25:29
  Speaker 3: the past five years it has blown out stocks by
• 25:32
  Speaker 3: a long shot. But let me take you back five
• 25:34
  Speaker 3: more years beyond that. Ten thousand dollars invested in bitcoin
• 25:37
  Speaker 3: ten years ago, that's where two point nine million dollars today.
• 25:41
  Speaker 3: Now we want to talk about fear missing out or
• 25:46
  Speaker 3: you know, I wish, you know, somebody would have told
• 25:48
  Speaker 3: me about this and I just would have put a thousand.
• 25:50
  Speaker 3: Well we can think about that. With everything. Bitcoin is
• 25:52
  Speaker 3: super unique, with returns like this ten thousand, ten years
• 25:56
  Speaker 3: ago worth two point nine million dollars today. We have
• 25:58
  Speaker 3: never seen anything like it in the capital markets. And
• 26:01
  Speaker 3: I've been doing this for a very long time, so
• 26:04
  Speaker 3: we can talk about why that's happened. But still, even
• 26:07
  Speaker 3: with that massive price appreciation, Bitcoin is still much bigger
• 26:12
  Speaker 3: than that. It's about a trillion and a half now,
• 26:15
  Speaker 3: but it's very small compared to the market capitalizations of
• 26:19
  Speaker 3: big assets that are already traded in our capital markets,
• 26:23
  Speaker 3: real estate being the biggest worldwide. The three hundred and
• 26:26
  Speaker 3: thirty trillion dollar market. Global debt, we're talking about the
• 26:29
  Speaker 3: bond market. Were talking about US debt, Chinese debt, Japanese debt,
• 26:33
  Speaker 3: European country debt. That's a three hundred and fifteen trillion
• 26:37
  Speaker 3: dollar market. FIAC currency we're talking about dollars, euros, YenS, Right,
• 26:42
  Speaker 3: that's one hundred and twenty trillion dollar market. Bitcoin is
• 26:45
  Speaker 3: a trillion and a half dollar market. It's come a
• 26:47
  Speaker 3: long way in fourteen years, but it is still a
• 26:51
  Speaker 3: very small asset class comparatively speaking, and given the hype
• 26:55
  Speaker 3: that it gets, barely anybody owns it, but the people
• 26:58
  Speaker 3: that own it own a lie of it, especially some
• 27:01
  Speaker 3: of the bigger companies. So we'll get into that in
• 27:03
  Speaker 3: a second. Just keep that in mind though, when when
• 27:05
  Speaker 3: Rashad mentioned that eighty five percent of people surveyed say
• 27:09
  Speaker 3: they don't own it, Well, you know, it's still pretty young,
• 27:11
  Speaker 3: and it's still pretty small, and it wasn't until like
• 27:14
  Speaker 3: the last year or two where it really became available
• 27:17
  Speaker 3: for us to put into our retirement accounts to buy
• 27:20
  Speaker 3: like an exchange traded fund, like we would buy exchange
• 27:22
  Speaker 3: traded fund that tracks the NASDAC. Right, it is still
• 27:25
  Speaker 3: kind of a I wouldn't call it a baby, but
• 27:27
  Speaker 3: I may call it like an eight year old or
• 27:29
  Speaker 3: like a fourteen year old, because that's actually what it.
• 27:31
  Speaker 5: Is, and that's what and that's why not to cut
• 27:33
  Speaker 5: you off, but that's why we wanted to have this.
• 27:34
  Speaker 5: It's like, you know, we talk about this stuff on
• 27:36
  Speaker 5: market Mondays all the time, and I.
• 27:38
  Speaker 4: Mean, you could just go out and just buy bigcoin.
• 27:41
  Speaker 5: XF people whatever you want, and that's fine, but I
• 27:43
  Speaker 5: feel like you, you know, being at eighty three percent
• 27:46
  Speaker 5: of people still have not invested in it. Most people
• 27:49
  Speaker 5: are still not educated in it. So you could just
• 27:50
  Speaker 5: buy something just because you know, we you say, like
• 27:53
  Speaker 5: this is a good buy, But like I said, this
• 27:55
  Speaker 5: is just to kind of give you education on it
• 27:57
  Speaker 5: because it's an asset class that most likely is only
• 28:00
  Speaker 5: going to get bigger. It's going to be here for
• 28:01
  Speaker 5: a long period of time. It's extremely complicated, and most
• 28:03
  Speaker 5: people don't understand it. They buy it, don't understand it.
• 28:06
  Speaker 5: So you should never invest in anything that you don't understand.
• 28:08
  Speaker 5: So the whole purpose of this is to give you
• 28:11
  Speaker 5: a real form of education, so you just have more
• 28:13
  Speaker 5: confidence in knowing what you're actually putting your money in too,
• 28:16
  Speaker 5: as opposed to just blindly just you know, throwing it
• 28:21
  Speaker 5: and not even knowing what you're actually doing. Right, So
• 28:24
  Speaker 5: that's the purpose of this. It's not to debate whether
• 28:27
  Speaker 5: XRP is better than Salana or not. It's to actually
• 28:29
  Speaker 5: just give you some education so you can have some
• 28:32
  Speaker 5: level of understanding that gives you more confidence. But then
• 28:38
  Speaker 5: that also just builds a more solid foundation going forward,
• 28:43
  Speaker 5: because like I said, you know you saw that chart.
• 28:46
  Speaker 5: It's still relatively early. That's the crazy part about it, right,
• 28:50
  Speaker 5: So it's not going anywhere, so you know, you don't
• 28:53
  Speaker 5: have to rush to just go out of your mind
• 28:56
  Speaker 5: and just put your life savings into like you know,
• 28:59
  Speaker 5: just take your time edge ducate yourself dollar cost average.
• 29:01
  Speaker 5: The same rules apply as the stock market. But you
• 29:04
  Speaker 5: know a lot of times people don't don't get that education.
• 29:07
  Speaker 5: So that's why this whole thing is just designed to
• 29:10
  Speaker 5: actually educate you. We're going to talk about the onboarding
• 29:13
  Speaker 5: process and stuff like that, but you know, first you
• 29:15
  Speaker 5: got to kind of know the history, the trajectory, the fundamentals.
• 29:22
  Speaker 5: This is how you you can you know, learn a
• 29:24
  Speaker 5: little bit.
• 29:26
  Speaker 1: I want to I want to go to one of
• 29:27
  Speaker 1: the slides that you brought up in the percentage increase
• 29:31
  Speaker 1: versus the S and P versus DOW. Which is interesting
• 29:33
  Speaker 1: because when you do the history, you said something very important,
• 29:36
  Speaker 1: this is being mine, and most people say, well, it's
• 29:39
  Speaker 1: being mine.
• 29:39
  Speaker 2: It takes a lot of energy.
• 29:41
  Speaker 1: That shouldn't sound unfamiliar to people who have been watching
• 29:44
  Speaker 1: market moneys and the files for the past five years,
• 29:46
  Speaker 1: because these things were being mined in what we call
• 29:49
  Speaker 1: data centers, right, and you know the efficiency that it
• 29:52
  Speaker 1: takes to have a data center when it comes to GPUs,
• 29:56
  Speaker 1: But that high computing was started because of bitcoin, right,
• 30:00
  Speaker 1: So when we're talking about the new technology of artificial intelligence,
• 30:04
  Speaker 1: this is very familiar in the same sense where it
• 30:07
  Speaker 1: was like we needed data centers, we need to have
• 30:09
  Speaker 1: them running at a high efficiency to do quantum compute
• 30:13
  Speaker 1: or advanced computing.
• 30:14
  Speaker 6: This sounds very similar to the day weare in right now.
• 30:16
  Speaker 1: When we see it Nvidia running, We saw a broadcom
• 30:19
  Speaker 1: today running because of the same things. AI predominantly inside
• 30:24
  Speaker 1: that data center segment. So these two things are running
• 30:27
  Speaker 1: powallel at the same time.
• 30:28
  Speaker 3: Yeah, and absolutely, and you know what stocks are doing
• 30:31
  Speaker 3: very well as bigcoin goes up power companies, energy companies
• 30:35
  Speaker 3: that are producing energy to power these data centers. Every
• 30:39
  Speaker 3: time you go on a flight right now, if you're
• 30:41
  Speaker 3: flying out of I don't care where you're flying in
• 30:43
  Speaker 3: the United States, you fly over a bunch of warehouses.
• 30:46
  Speaker 3: You see them all day, or you're driving on the
• 30:48
  Speaker 3: highway and all you see your warehouses. Well, half of
• 30:50
  Speaker 3: those are fulfillment centers for Amazon and Walmart and everybody
• 30:54
  Speaker 3: to get you your goods right away. The other half
• 30:56
  Speaker 3: are data centers full of super servers right that are
• 30:59
  Speaker 3: doing massive compute power, either to mind crypto or to
• 31:03
  Speaker 3: min ai used for AI computing purposes, to mind data
• 31:07
  Speaker 3: to sell us more things.
• 31:08
  Speaker 2: Right.
• 31:08
  Speaker 3: Data is the currency of the twenty first century. Bitcoin
• 31:12
  Speaker 3: is in that ecosystem, and so is the blockchain. The
• 31:15
  Speaker 3: blockchain is part of the railroad of that ecosystem. And
• 31:18
  Speaker 3: to Rashad's point, right, this is about knowing what you own.
• 31:22
  Speaker 2: Now.
• 31:22
  Speaker 3: You could buy it on a whim. You could buy
• 31:23
  Speaker 3: any of the coins I put up there on a whim.
• 31:25
  Speaker 3: You could have bought bitcoin a long time agoing to said,
• 31:27
  Speaker 3: I don't know, I'm gonna give it a whirl. But
• 31:29
  Speaker 3: it's always better to know what you own, so you
• 31:31
  Speaker 3: have a better understanding whether you want to keep owning
• 31:33
  Speaker 3: it or own more of it potentially, or when something
• 31:35
  Speaker 3: big happens, you have a better understanding of it. It makes
• 31:38
  Speaker 3: you a smarter investor and you could make better decisions
• 31:40
  Speaker 3: based on that. We can't tell you which one of
• 31:42
  Speaker 3: these is going to go up a thousand percent. I
• 31:44
  Speaker 3: wish we could. If we could, we probably wouldn't be
• 31:46
  Speaker 3: here right now. We would we'd be teaching you from
• 31:48
  Speaker 3: the yacht. But what's important is to know what you
• 31:50
  Speaker 3: own and understand this whole ecosystem and the history of it,
• 31:52
  Speaker 3: so when people start talking about it, you can be like,
• 31:54
  Speaker 3: I actually have a little bit more of an informed
• 31:56
  Speaker 3: opinion than that. Can we go back to some of
• 31:58
  Speaker 3: the companies that are using because I think this gets
• 32:00
  Speaker 3: into the use case, and then we'll talk about how
• 32:02
  Speaker 3: to get into it. If you're not into it yet
• 32:04
  Speaker 3: or you want to teach somebody else how to get
• 32:06
  Speaker 3: into it, let me see if I can get back
• 32:07
  Speaker 3: in there. All right, cool, So again, this is a
• 32:10
  Speaker 3: fourteen year old technology. The bitcoin has been around for
• 32:14
  Speaker 3: fourteen years. The blockchain has been being built for the
• 32:16
  Speaker 3: last couple of decades. But more and more financial institutions
• 32:20
  Speaker 3: and processes are been preparing for this future, and the
• 32:23
  Speaker 3: future is actually now right. PayPal is very involved in cryptocurrency.
• 32:27
  Speaker 3: You can pay people with cryptocurrencies through PayPal. Master Card
• 32:31
  Speaker 3: allows you to use some of your rewards to buy cryptocurrencies.
• 32:36
  Speaker 3: Blackrock the biggest money manager in the world right it's
• 32:39
  Speaker 3: got thirteen trillion dollars. It is offering bitcoin exchange traded
• 32:44
  Speaker 3: funds and ways to access bitcoin and other cryptocurrencies through trust. Obviously,
• 32:49
  Speaker 3: Square the payment platform, is in there. Fidelity Investments, one
• 32:52
  Speaker 3: of the most stodgy sort of money financial managers in
• 32:57
  Speaker 3: the world that's been around for the last one hundred
• 32:59
  Speaker 3: odd years. They've been mining their own bitcoin for the
• 33:02
  Speaker 3: past ten years. Abigail Johnson, the woman who runs that firm,
• 33:05
  Speaker 3: is fascinated with this technology and the Fidelity is offering it.
• 33:08
  Speaker 3: And BNY Mellon, which used to be the Bank of
• 33:11
  Speaker 3: New York, the bank that Alexander Hamilton founded quite two
• 33:14
  Speaker 3: hundred plus years ago, they're into bitcoin too. So this
• 33:17
  Speaker 3: is not like it's maybe happening. It's happening today. The
• 33:20
  Speaker 3: biggest financial firms in the world are using it. The
• 33:23
  Speaker 3: biggest payment firms in the world are using it. But
• 33:25
  Speaker 3: what can you actually buy with it today? Besides turning
• 33:27
  Speaker 3: it into fia. What can you buy with cryptocurrency, Well,
• 33:30
  Speaker 3: you can go out on a limb in some places
• 33:32
  Speaker 3: and buy some property that's priced in bitcoin. The price
• 33:36
  Speaker 3: of bitcoin changes very frequently, so you got to watch
• 33:38
  Speaker 3: those prices. But there are some brokers in places outside
• 33:42
  Speaker 3: the US mostly that'll allow you to buy in bitcoin.
• 33:44
  Speaker 3: Some of these retailers will allow you to use bitcoin
• 33:47
  Speaker 3: or cryptocurrencies like Ethereum to buy gift cards, and some
• 33:51
  Speaker 3: of these retailers will allow you to place orders using cryptocurrency.
• 33:55
  Speaker 3: Uber Eats will let you do it in some cases.
• 33:57
  Speaker 3: In some cities, game stops been accepting it for a while.
• 34:01
  Speaker 3: Right it is out there and it's in use, But
• 34:03
  Speaker 3: you're not going to go to Burger King or Carvel
• 34:05
  Speaker 3: if you will and go with bitcoin right now, it's
• 34:09
  Speaker 3: just not that widely held. But Ethereum, which is another
• 34:13
  Speaker 3: type of cryptocurrency, a smart coin, we call it. You
• 34:15
  Speaker 3: could go buy non fungible tokens like the pudgy penguins
• 34:19
  Speaker 3: down there. Those are like ten grand each. I don't
• 34:21
  Speaker 3: know why those are non fungible tokens. These are art
• 34:24
  Speaker 3: that exists in a unique way on the blockchain. There's
• 34:27
  Speaker 3: only one of one of these, and that's another aspect
• 34:30
  Speaker 3: of the blockchain universe. So you can't buy a pizza necessarily,
• 34:35
  Speaker 3: except maybe one or two pizza parlors, and at the
• 34:37
  Speaker 3: Dallas Maverick Stadium they'll allow you to use doge coin
• 34:40
  Speaker 3: to buy a pizza. But in general, there are very
• 34:43
  Speaker 3: few places that accept it as a means of exchange
• 34:47
  Speaker 3: right now, but there are growing. But if you wanted
• 34:51
  Speaker 3: to get into it and you wanted to own some cryptocurrency,
• 34:54
  Speaker 3: the first thing you have to do to trade it,
• 34:56
  Speaker 3: to buy it, to sell it, to give it to somebody,
• 34:58
  Speaker 3: to accept it as a gift is to have a wallet. Right,
• 35:03
  Speaker 3: you need a digital place for this cryptocurrency to go.
• 35:06
  Speaker 3: Nobody's going to hand you a stack of bitcoin. There
• 35:09
  Speaker 3: is no bitcoin, right, it's just digital technology. It's a
• 35:13
  Speaker 3: software problem. So you need either a cold wallet, which
• 35:16
  Speaker 3: really looks just like a hard you know, a what
• 35:19
  Speaker 3: do you call those thumb drive even fancier. That's called
• 35:24
  Speaker 3: a cold wallet, or you can buy or you can
• 35:26
  Speaker 3: have a wallet on an exchange kind of like you
• 35:29
  Speaker 3: do with your cash app or your bank app. Right,
• 35:32
  Speaker 3: that's called a hot wallet that lives on the internet.
• 35:35
  Speaker 3: And if you open an account with a coinbase or
• 35:37
  Speaker 3: a crypto dot com or a crack in or any
• 35:40
  Speaker 3: of them, you're going to be opening what's called a
• 35:42
  Speaker 3: hot wallet a little less secure because it's on the
• 35:44
  Speaker 3: internet and all kinds of things happen on the internet
• 35:46
  Speaker 3: with hacking. But a cold wallet is sort of an
• 35:50
  Speaker 3: off site storage. Right, you have your own passcode for that.
• 35:52
  Speaker 3: You have that one thumb drive that has all your
• 35:56
  Speaker 3: cryptocurrency in it. You better not lose it. And we've
• 35:58
  Speaker 3: heard stories about people losing their thumb driver for getting
• 36:01
  Speaker 3: the password and losing millions or billions of dollars worth
• 36:04
  Speaker 3: of it. That happens, that's real, But it's your choice.
• 36:07
  Speaker 5: Questions on this guy's Yeah, the onboarding for Americans, you
• 36:12
  Speaker 5: got to go through like coin base, and you could
• 36:15
  Speaker 5: take it off of it. But that's important because when
• 36:20
  Speaker 5: you buy the crypto, like let's say you use coin
• 36:23
  Speaker 5: Base for example, because of the thing that's probably like
• 36:25
  Speaker 5: the most recognizable exchange, you do have the option to
• 36:29
  Speaker 5: just leave it on coin Base. In that regard, coin
• 36:33
  Speaker 5: Base is kind of like the custodian of your actual bitcoin, right,
• 36:38
  Speaker 5: which leads to problems, could lead to problems. You have
• 36:46
  Speaker 5: the option of buying it and then taking it off
• 36:49
  Speaker 5: right and then using the wallets. Right now, this is
• 36:56
  Speaker 5: important because, like you said, if you if anything happens
• 37:03
  Speaker 5: to that right, let's say he's using the cold wallet and.
• 37:08
  Speaker 4: You lose your you lose it.
• 37:11
  Speaker 5: There's there like when you buy a stock, there's federal
• 37:16
  Speaker 5: regulations and there's oversight and these companies you you don't
• 37:23
  Speaker 5: just say like I'm done, right, that doesn't exist in
• 37:28
  Speaker 5: the world of crypto. So if you have five million
• 37:31
  Speaker 5: dollars on your co wallet and you go to Turfs
• 37:35
  Speaker 5: and Keko's and you bring it with you, or you
• 37:37
  Speaker 5: don't bring it with you, and you're cleaner comes in
• 37:41
  Speaker 5: and thinks that it's a USB drive and throws it away,
• 37:48
  Speaker 5: there's no recourse to get the five million dollars back.
• 37:50
  Speaker 4: There's no one eight hundred, there's no one number that.
• 37:53
  Speaker 3: One hundred bitcoin. Where's my bitcoin? And that's a big deal.
• 37:57
  Speaker 2: Right.
• 37:58
  Speaker 3: When we say unregulated, you mean there's no sheriff in
• 38:01
  Speaker 3: town here, right. And we've heard of these big crypto
• 38:04
  Speaker 3: platforms like finance where they've had fraud or where there
• 38:08
  Speaker 3: was you know, bad dealings and millions were lost. Some
• 38:11
  Speaker 3: of that can get recovered because you can trace the
• 38:14
  Speaker 3: digital sort of footprint of some of these things. But
• 38:17
  Speaker 3: there is no securities in Exchange Commission right now, and
• 38:21
  Speaker 3: there might be in a couple of months that is
• 38:23
  Speaker 3: overseeing crypto. There is no SIPC like there is in
• 38:27
  Speaker 3: stocks where that your your investments are being protected up
• 38:30
  Speaker 3: to a certain amount. There's no FDIC like there is
• 38:33
  Speaker 3: at your bank that protects up to two hundred and
• 38:34
  Speaker 3: fifty thousand dollars of your money in the bank should
• 38:37
  Speaker 3: something happen to the bank right there is.
• 38:39
  Speaker 4: No in phraze.
• 38:41
  Speaker 5: I think the phrase is like twenty four letters like
• 38:44
  Speaker 5: that one.
• 38:46
  Speaker 3: Touch a phrase. Yeah, I'll show you what one looks like.
• 38:48
  Speaker 3: It's crazy.
• 38:49
  Speaker 1: This is important and it's a word of the wise,
• 38:52
  Speaker 1: especially if you're going to use a code whilet that
• 38:54
  Speaker 1: seed phrase can be twenty to twenty four words. Make
• 38:57
  Speaker 1: sure that you store that, make sure that you never
• 38:59
  Speaker 1: lose that, because you won't be able to get inside
• 39:01
  Speaker 1: that cold wallet. But here's something that people need to know.
• 39:05
  Speaker 1: If you're going to purchase a cold wallet.
• 39:08
  Speaker 6: Number one, Please purchase it from the direct company.
• 39:12
  Speaker 2: Right. So a lot of times you'll.
• 39:14
  Speaker 1: Go on Amazon, or you might go on Momart and
• 39:16
  Speaker 1: you'll say, hey, there's a cold wallet and I need
• 39:18
  Speaker 1: it next day shipping. The problem is you don't know
• 39:20
  Speaker 1: where that cold wallet came from, and sometimes somebody has
• 39:24
  Speaker 1: used it. They've are ready created the seed phrase, and
• 39:27
  Speaker 1: you get it, you upload all your assets, and in
• 39:31
  Speaker 1: a day you can't get back in because it's been
• 39:33
  Speaker 1: hot wired already. Has that happened before, Yes, that happens
• 39:36
  Speaker 1: to people. And so to alleviate that, what you want
• 39:39
  Speaker 1: to do is get it. I see a bunch of
• 39:41
  Speaker 1: people put in get it directly from Ledger, get it
• 39:44
  Speaker 1: direct directly from trays or there's a reason why they're
• 39:47
  Speaker 1: saying that, because that is a questionary tale that can
• 39:50
  Speaker 1: happen to people. It's a new space, right, it's unregulated
• 39:54
  Speaker 1: in this sense, and so you want to make sure
• 39:56
  Speaker 1: you take every proportion and every step is possible.
• 39:59
  Speaker 6: That seed phrase again, I would store it.
• 40:01
  Speaker 1: I would put it in a safe just so that
• 40:03
  Speaker 1: you know that it's there and if anything ever happens,
• 40:06
  Speaker 1: you know where to get it from. Because again, beyond
• 40:09
  Speaker 1: losing it. If you lose that phrase, you can't get
• 40:12
  Speaker 1: back in.
• 40:13
  Speaker 3: Once it's gone, it's gone, right, And again there is
• 40:16
  Speaker 3: no sheriff in town, at least not yet. And that's
• 40:19
  Speaker 3: kind of the point of cryptocurrency. It is supposed to
• 40:22
  Speaker 3: be unregulated. Bitcoin was designed to be unregulated. But we
• 40:26
  Speaker 3: can all see transactions, we can see where it happened,
• 40:30
  Speaker 3: where it happened. If somebody steals bitcoin. You always hear
• 40:33
  Speaker 3: about people you know, stealing X amount of million in bitcoin.
• 40:36
  Speaker 3: You can really track trace them down because they leave
• 40:38
  Speaker 3: a digital footprint. But if you lose your pass code
• 40:41
  Speaker 3: or you lose your cold wallet, it is gone.
• 40:44
  Speaker 4: Or if you send it to the wrong address. So
• 40:47
  Speaker 4: that's what you say.
• 40:48
  Speaker 5: Somebody said, like, how do you Let's say, if you
• 40:50
  Speaker 5: buy it on coin base, you have you have an address,
• 40:53
  Speaker 5: and then you send it to another address. So if
• 40:55
  Speaker 5: you send it to another if you sing it, if
• 40:57
  Speaker 5: you send it to the wrong address, if you miss
• 41:00
  Speaker 5: a letter, you're done. And that's happened to me before.
• 41:05
  Speaker 5: So everything that I'm speaking on it happened the first
• 41:07
  Speaker 5: hand experience. So the Chase thing, when I went to
• 41:10
  Speaker 5: Chase two years ago, and Coinbase and they were saying
• 41:14
  Speaker 5: that so many people were coming into Chase Bank trying
• 41:23
  Speaker 5: to retrieve money because their coin based account got hacked.
• 41:26
  Speaker 5: That didn't make that wasn't on national news or anything
• 41:29
  Speaker 5: like that. But this is this is people. This is
• 41:31
  Speaker 5: the banker telling me firsthand, like how rampant coinbase hacks
• 41:37
  Speaker 5: was people customers, How many customers was actually coming in
• 41:42
  Speaker 5: saying that their coin Base got hacked and as a
• 41:45
  Speaker 5: result their bank account was compromised, And that happens like that,
• 41:50
  Speaker 5: It's not a fairy tale like it really happens. So
• 41:52
  Speaker 5: the security aspect is something that's definitely real. I mean,
• 41:55
  Speaker 5: you can choose to do whatever you want. You can
• 41:57
  Speaker 5: leave it on Coinbase, you can leave it on you
• 41:58
  Speaker 5: can buy Robinhood, you can transfer it to your own
• 42:01
  Speaker 5: personal wallet. But no matter, no matter what you do,
• 42:05
  Speaker 5: there is some level of security that you should just
• 42:08
  Speaker 5: be aware of.
• 42:09
  Speaker 3: And it's on you. It's on you the older.
• 42:12
  Speaker 2: Right.
• 42:12
  Speaker 3: This is again you went to Chase because maybe their
• 42:15
  Speaker 3: Chase account was linked to their coin Base account. But
• 42:17
  Speaker 3: I'm sure Chase was like, we can't help you. Right,
• 42:20
  Speaker 3: Coinbase is not ours. But if you are setting up
• 42:23
  Speaker 3: a wallet and I use Coinbase here for the first time.
• 42:26
  Speaker 3: If you're opening an account and setting up a hot
• 42:29
  Speaker 3: wallet on a Coinbase, it's as simple as signing up
• 42:32
  Speaker 3: for basically any app you've ever signed up for, or
• 42:34
  Speaker 3: if you're signing up for the gym, or if you're
• 42:36
  Speaker 3: signing up for a you know, online banking, the app
• 42:39
  Speaker 3: for your bank, City Chase, whatever it is, it looks
• 42:42
  Speaker 3: just like it.
• 42:42
  Speaker 4: Right.
• 42:43
  Speaker 3: You pick your username, you pick your password, you back
• 42:46
  Speaker 3: up your wallet. As Rashad just mentioned, you protect your
• 42:49
  Speaker 3: wallet with a double factor factor authentification face IDA. That
• 42:54
  Speaker 3: could be an extra text. This is all about setting
• 42:57
  Speaker 3: up as secure hot wallet, so it has per cocted
• 43:00
  Speaker 3: as possible, and that's what you need to do as
• 43:02
  Speaker 3: soon as you want to get involved in start your
• 43:05
  Speaker 3: and start your investing journey.
• 43:07
  Speaker 2: Right.
• 43:07
  Speaker 3: And then when you start using these apps, and I
• 43:10
  Speaker 3: went from Coinbase, there A to crypto dot Com just
• 43:12
  Speaker 3: to give you a different flavor, because guess what, they're
• 43:14
  Speaker 3: all kind of the same. Once you start wanting to
• 43:17
  Speaker 3: make transactions on these platforms again, they look just like
• 43:22
  Speaker 3: sports betting sites, they look just like regular online trading
• 43:25
  Speaker 3: sites or banking online banking sites. You are basically looking
• 43:28
  Speaker 3: at a watch list of the things you might own,
• 43:31
  Speaker 3: and then you're deciding whether to buy, sell, deposit money
• 43:34
  Speaker 3: into your account, which would come from your bank account,
• 43:36
  Speaker 3: your fiat fiata dollars Fiat you fund your crypto account
• 43:41
  Speaker 3: with real dollars. That's where that you know, these two
• 43:44
  Speaker 3: things come clash, right, and then you just transact. You
• 43:48
  Speaker 3: make transactions. You can buy, you can sell, you can
• 43:51
  Speaker 3: buy with limit orders. And I'll show you what it
• 43:52
  Speaker 3: looks like. I actually did it today for you guys.
• 43:55
  Speaker 3: You got me so inspired. I went out and bought
• 43:57
  Speaker 3: some bitcoin, and I set a limit order for some bitcoin.
• 44:00
  Speaker 3: If it ever falls to seventy five, I'm want to
• 44:02
  Speaker 3: buy some more. So let me show you how I
• 44:04
  Speaker 3: did that. First screen here, this is my coin base account.
• 44:08
  Speaker 3: I wanted to buy one hundred dollars a bitcoin. I
• 44:10
  Speaker 3: looked at it on my watch list. Then it asked
• 44:12
  Speaker 3: me what kind of order, just like I would if
• 44:15
  Speaker 3: I was buying a stock on schwab dot com. Is
• 44:17
  Speaker 3: this a one time order or do I want to
• 44:19
  Speaker 3: buy every month on a recurring basis dollar cost averaging
• 44:23
  Speaker 3: as Rashad mentioned, or is this a limit order? I
• 44:26
  Speaker 3: only want to buy bitcoin if it hits a certain price.
• 44:29
  Speaker 3: The screen on the right is that seventy five dollars price.
• 44:31
  Speaker 3: I'd like to buy some bitcoin if it goes down
• 44:33
  Speaker 3: to seventy five because I think it's going to go
• 44:34
  Speaker 3: back up again. If it does or again a recurring
• 44:37
  Speaker 3: buy and my dollar cost averaging in. Then I set
• 44:40
  Speaker 3: my order. I'm paying with my checking account. There's my
• 44:43
  Speaker 3: Schwab checking account. Hopefully the numbers not there anymore. They'll
• 44:46
  Speaker 3: only let me buy five thousand dollars worth in a day.
• 44:49
  Speaker 3: They set a limit for me, thank you very much,
• 44:52
  Speaker 3: and then I review my order if I'm happy with it,
• 44:54
  Speaker 3: and look, I don't have to buy Bitcoin is trading
• 44:57
  Speaker 3: near one hundred thousand dollars per bitcoin. Just like docs,
• 45:00
  Speaker 3: you can buy fractional or dollar amounts of any cryptocurrency.
• 45:04
  Speaker 3: You don't have to buy the full price tag of it.
• 45:06
  Speaker 3: So if I'm buying one hundred dollars worth of bitcoin today,
• 45:09
  Speaker 3: I'm buying point zero zero zero zero nine five four
• 45:13
  Speaker 3: three seven bitcoin right a fraction of a fraction of
• 45:16
  Speaker 3: a fraction. The smallest, most possible tenious denomination of bitcoin
• 45:23
  Speaker 3: is called a toshi. A satoshi like a penny, so
• 45:26
  Speaker 3: cute but I'm with one hundred bucks. I'm buying just
• 45:28
  Speaker 3: a very fractional amount. But that's the whole thing. I
• 45:31
  Speaker 3: don't have to afford one hundred thousand dollars to buy
• 45:32
  Speaker 3: bitcoin today. I just want to buy a little bit
• 45:34
  Speaker 3: every month because I want to keep owning it. And
• 45:36
  Speaker 3: that's kind of the way I operate as an investor.
• 45:38
  Speaker 3: I pick five or six coins and tokens that I
• 45:41
  Speaker 3: understand where I think I know what's going on. And
• 45:43
  Speaker 3: by the way, I don't really understand the way the
• 45:46
  Speaker 3: business works, because there is no business behind these coins.
• 45:49
  Speaker 3: It's mostly belief. But I understand what their purpose is
• 45:52
  Speaker 3: and could be I buy the same five, and I
• 45:54
  Speaker 3: buy the same five and the same amount every month.
• 45:56
  Speaker 3: If it price drops a lot, maybe I'll buy a
• 45:58
  Speaker 3: little bit more. But I set up curring buys for myself,
• 46:01
  Speaker 3: and sometimes I set limit orders if I want to
• 46:03
  Speaker 3: buy it at a cheaper price. But it looks just
• 46:05
  Speaker 3: like any online broker you've used before, just like your
• 46:08
  Speaker 3: bank account, right. But there are a ton of risk
• 46:11
  Speaker 3: factors in investing in crypto. Rashaw just mentioned. Troy mentioned
• 46:14
  Speaker 3: a couple of them. One of those is losing your
• 46:16
  Speaker 3: password or having your account hacked, and that happens all
• 46:19
  Speaker 3: the time. But also these are super volatile assets. When
• 46:23
  Speaker 3: I say volatile, we're talking about extreme data.
• 46:26
  Speaker 2: Right.
• 46:27
  Speaker 3: They prices gyrate on these things for no rhyme or reason.
• 46:31
  Speaker 3: It's not like you can look inside these coins and say, oh,
• 46:34
  Speaker 3: they had a bad quarter. These coins don't sell anything,
• 46:37
  Speaker 3: or the CEO left. Some of these coins have no CEO.
• 46:40
  Speaker 3: Most of them don't, right, Or there's you know, the
• 46:45
  Speaker 3: economic windsor shifting and all of a sudden, this is
• 46:47
  Speaker 3: not working anymore. It's not fundamental like that. It's really
• 46:51
  Speaker 3: based on belief. And that's a big thing you have
• 46:53
  Speaker 3: to accept if you're going to own cryptocurrencies, whether it's
• 46:57
  Speaker 3: tokens or coins, you have to understand that a lot
• 47:00
  Speaker 3: of this is based on belief. And we can talk
• 47:02
  Speaker 3: about that more in a minute. He talked about hacking, right.
• 47:05
  Speaker 3: And we also, you know, although some financial institutions are
• 47:10
  Speaker 3: allowing you to invest in it and even transact in
• 47:13
  Speaker 3: some cases, it's not accepted by the federal banking institutions,
• 47:18
  Speaker 3: by the Federal Reserve, at least not yet. And I
• 47:20
  Speaker 3: put the word yet there because we have a new
• 47:23
  Speaker 3: presidential administration coming in and President elect Trump has promised
• 47:27
  Speaker 3: to make America the crypto capital of the world. He said,
• 47:29
  Speaker 3: the United States will mine its own cryptocurrency. It will
• 47:33
  Speaker 3: never sell or hotal hold on for dear life forever
• 47:36
  Speaker 3: to the cryptocurrencies that are already in our treasury that
• 47:39
  Speaker 3: the United States Treasury got from arresting people that hacked
• 47:42
  Speaker 3: into other people's accounts. Right, it may happen that it
• 47:45
  Speaker 3: becomes regulated, which would be antithetical. But another huge risk,
• 47:49
  Speaker 3: and I bolleted it for a reason, is that there
• 47:52
  Speaker 3: is an intense amount of ownership concentration, especially in bitcoin.
• 47:56
  Speaker 3: A very few institutions, groups and individuals own most of it.
• 48:01
  Speaker 3: And should they decide to sell at any point, well
• 48:05
  Speaker 3: that could really drop the price a lot. And that's
• 48:08
  Speaker 3: a very big and important factor, not just in cryptocurrency
• 48:11
  Speaker 3: and any security. But you want to make sure you
• 48:14
  Speaker 3: understand this. Well, it's got these things going for it.
• 48:16
  Speaker 3: It's got a really tight supply bitcoin, right, I told
• 48:18
  Speaker 3: you only twenty one million will ever be created. It's
• 48:21
  Speaker 3: got a lot of demand and a lot of hype.
• 48:23
  Speaker 3: It costs more and more to produce it. It gets more
• 48:25
  Speaker 3: expensive and timely to produce it's got competitors now, but
• 48:29
  Speaker 3: it is, you know, the king of the hill. Up
• 48:32
  Speaker 3: until now, the sec has not really been that friendly
• 48:35
  Speaker 3: to it. The Securities and Exchange Commission the top cop
• 48:38
  Speaker 3: on Wall Street. But we got a new Securities and
• 48:40
  Speaker 3: Exchange commissioner coming in with the Trump administration. He sounds
• 48:43
  Speaker 3: more friendly. But bitcoin gets a ton of media coverage,
• 48:46
  Speaker 3: a ton of media coverage for as small as it is,
• 48:49
  Speaker 3: and all these things affect its price. Okay, I talked
• 48:53
  Speaker 3: about the fact that it's heavily concentrated and that you know,
• 48:57
  Speaker 3: just a few entities own most of it. When you
• 49:00
  Speaker 3: have this heavily of a concentration in an asset, anything
• 49:04
  Speaker 3: can happen. The price spikes a lot. Why, Oh, because
• 49:06
  Speaker 3: one or more of these entities decided they wanted to
• 49:09
  Speaker 3: buy more of it. Oh the price drop? What happened? Well,
• 49:12
  Speaker 3: some of these entities decided that they didn't want as
• 49:14
  Speaker 3: much of it anymore. They can really impact supply demand
• 49:18
  Speaker 3: and ultimately price. And as an individual investor or somebody
• 49:22
  Speaker 3: who's trying to trade these or hold these or buying
• 49:24
  Speaker 3: for my kids for the long term, I have zero
• 49:27
  Speaker 3: control over that, and not a ton of visibility. But
• 49:30
  Speaker 3: when you look at who holds the most bitcoin coinbase,
• 49:33
  Speaker 3: that's us individual investors that are buying an our own
• 49:36
  Speaker 3: accounts Satoshi whoever that is. It's an entity and mysterious entity,
• 49:40
  Speaker 3: but they do have a digital signature, so we know
• 49:43
  Speaker 3: it's out there, we just can't track the person down.
• 49:46
  Speaker 3: Finance Blackrock the biggest money manager in the world. This
• 49:49
  Speaker 3: company here, micro Strategy. This is a publicly traded stock
• 49:53
  Speaker 3: that used to be in the you know, making equipment
• 49:57
  Speaker 3: for servers, right it used to be in the AI
• 50:00
  Speaker 3: intelligence business, but it's changed its business completely and for
• 50:03
  Speaker 3: the past five years it's CEO Michael Saylor. All he
• 50:06
  Speaker 3: wants to do is collect bitcoin and basically it's a
• 50:09
  Speaker 3: bitcoin treasury and one of the best performing stocks this year.
• 50:12
  Speaker 1: It is the interesting thing about this this truck, Caleb
• 50:15
  Speaker 1: I know it says as of November twenty four, election happened,
• 50:18
  Speaker 1: we saw bitcoin run.
• 50:20
  Speaker 6: Black Rock has actually increased their ownership.
• 50:23
  Speaker 1: They now have over five hundred and twenty eight thousand bitcoins,
• 50:26
  Speaker 1: so you're about the largest treasury of money from the
• 50:29
  Speaker 1: institutional They're seeing a value in it. Whereas before maybe
• 50:32
  Speaker 1: five years ago, this truck would.
• 50:34
  Speaker 2: Look nothing like this.
• 50:35
  Speaker 3: Absolutely not absolutely that's important.
• 50:38
  Speaker 5: Like I said, it's not We're agnostic about the situation.
• 50:42
  Speaker 5: So just give you the information. It's not not debatable facts,
• 50:48
  Speaker 5: just so you can be informed. Bitcoin is held by
• 50:54
  Speaker 5: institutions for the most part. That's not something that is debatable.
• 51:01
  Speaker 4: That's an actual fact.
• 51:03
  Speaker 5: Now it could be a good thing because you can say, okay, well,
• 51:05
  Speaker 5: if if black Rock owns this much and they're not
• 51:08
  Speaker 5: gonna they're very intelligent people, right, they're not gonna own
• 51:11
  Speaker 5: something that's not gonna go up in value. That's a
• 51:13
  Speaker 5: sign that that's going to go up in value. That's
• 51:14
  Speaker 5: a sign that you know it's going to be even
• 51:16
  Speaker 5: safer going forward. Or you can look at it and say, well,
• 51:19
  Speaker 5: if they own this much, then they're going to control everything,
• 51:21
  Speaker 5: and it kind of goes against the whole principles of
• 51:23
  Speaker 5: it being decentralized and d D and the small guys
• 51:26
  Speaker 5: that will win. But this is this is the world
• 51:29
  Speaker 5: does not work on fairy tales.
• 51:31
  Speaker 4: The rich run it.
• 51:32
  Speaker 5: The rich have always run the world, right, There's never
• 51:36
  Speaker 5: been a time in human history since money was created
• 51:39
  Speaker 5: that the rich didn't run the world. And they run
• 51:41
  Speaker 5: and they run the current. They run cryptocurrency, they own
• 51:44
  Speaker 5: the most of it, they control the price, and they
• 51:45
  Speaker 5: run it. That's just important for you to know. So
• 51:49
  Speaker 5: it's not like this utopia that some people think that
• 51:52
  Speaker 5: it is. That's just not the case. And I have
• 51:57
  Speaker 5: a strong suspicion that they can still get because even
• 52:01
  Speaker 5: you know, in the Middle East when October seventh happened,
• 52:05
  Speaker 5: they got the Hamas's crypto, so bitcoin. So I don't
• 52:10
  Speaker 5: know how they got don I don't know how they
• 52:13
  Speaker 5: did that, but that lets me know that if they
• 52:18
  Speaker 5: want to get your crypto, they're going to get your crypto.
• 52:20
  Speaker 5: That's just my own personal opinion that might not be
• 52:22
  Speaker 5: an actual fact, but the fact that they actually got
• 52:25
  Speaker 5: their their their bitcoin so quickly, I just think that
• 52:30
  Speaker 5: they have some level of intelligence that if foot.
• 52:32
  Speaker 2: Prints, yeah, it's it's all on the ledger.
• 52:37
  Speaker 3: It's all on the ledger. Now if you they can
• 52:39
  Speaker 3: do some digital sleuthing to find out who's who on
• 52:42
  Speaker 3: that ledger, and that's probably how they got it. But
• 52:44
  Speaker 3: let me just show, uh, go back to that chart
• 52:46
  Speaker 3: real quick if we can, or is I presenting gotcha? Okay,
• 52:49
  Speaker 3: so you see they're the US government number seven. It
• 52:52
  Speaker 3: owns two hundred and thirteen thousand bitcoin at a value. Well,
• 52:56
  Speaker 3: now the value is probably twenty five billion dollars. But
• 52:59
  Speaker 3: where did it get it's bitcoin? Right, Well, it's not
• 53:03
  Speaker 3: like the Treasury and Jenny Yellen was out there scooping bitcoin, right,
• 53:07
  Speaker 3: and it definitely wasn't happening in the administration before that.
• 53:10
  Speaker 3: What is it from. It's from the seizure of assets
• 53:12
  Speaker 3: from criminal activity that the Treasury keeps in its treasury. Right,
• 53:17
  Speaker 3: So the United States owns bitcoin and Trump President elect
• 53:20
  Speaker 3: Trump said they'll never sell it. Now he's catering to
• 53:24
  Speaker 3: the bitcoin crowd. It helped get him elected. But we
• 53:26
  Speaker 3: do have quite a bit of bitcoin in our treasury,
• 53:29
  Speaker 3: and if we're going to mine our own, there's going
• 53:30
  Speaker 3: to be a lot more. And to your point, wher shot,
• 53:32
  Speaker 3: it's antithetical to the way that bitcoin was created by
• 53:35
  Speaker 3: Satoshi Nakamoor, whoever that was, right, It was never supposed
• 53:38
  Speaker 3: to be this, But it's gone capitalist real quick. Why
• 53:42
  Speaker 3: because there's value in it. And once there's value in something,
• 53:45
  Speaker 3: here come the sharks, right. And if you want to
• 53:48
  Speaker 3: swim with the sharks as a pilot fish or a
• 53:50
  Speaker 3: fish behind the pilot fish and make some of that
• 53:53
  Speaker 3: money too, and invest in it and learn about it.
• 53:55
  Speaker 3: You can do that, or you can just say that's
• 53:57
  Speaker 3: just capitalism run amuck. I don't want any part of it.
• 54:00
  Speaker 3: But I assume if you're watching this you're interested in it.
• 54:03
  Speaker 3: Just move on to the next slide real quick. Anyway,
• 54:05
  Speaker 3: there's more.
• 54:06
  Speaker 2: We're going to call them the whales.
• 54:07
  Speaker 3: Yeah, they're whales. There are the whales. Right, Chinese government
• 54:10
  Speaker 3: has a ton of bitcoin fidelity. Look, these are big companies, right,
• 54:15
  Speaker 3: Robinhood has a lot, but that is held for clients
• 54:17
  Speaker 3: like us, right, So so we do individuals do have
• 54:21
  Speaker 3: it now in terms of where it's legal. And I
• 54:22
  Speaker 3: borrowed this great chart from how much dot Net. They
• 54:24
  Speaker 3: do some great work. This is a pretty acurate It
• 54:27
  Speaker 3: might need to be updated a little bit, but you know,
• 54:30
  Speaker 3: it's pretty legal to own it and to transact in
• 54:33
  Speaker 3: it and to invest in it around the world. And
• 54:36
  Speaker 3: a lot of countries are way out in front of
• 54:38
  Speaker 3: the United States on this. Mongolia is big on it.
• 54:40
  Speaker 3: El Salvador may try to make it. It's you know,
• 54:43
  Speaker 3: it's it's fiat currency. That didn't work out very well
• 54:46
  Speaker 3: because when they started it. I think Bitcoin was at
• 54:47
  Speaker 3: forty thousand, then it went to like eighteen thousand, so
• 54:50
  Speaker 3: that didn't work. But you see, it's these green you know,
• 54:53
  Speaker 3: the green shoots are places where it's legal to transact
• 54:56
  Speaker 3: in it. China wants no part of it, Russia wants
• 54:59
  Speaker 3: no part of it all the the Chinese government owns
• 55:01
  Speaker 3: a lot of it that it has seized its own
• 55:03
  Speaker 3: way as well, So that's where it's legal around the world. Now.
• 55:07
  Speaker 3: If you're thinking about opening an account right and you
• 55:10
  Speaker 3: don't know where to do it or how to do it,
• 55:11
  Speaker 3: and you don't want to buy a heart that you know,
• 55:13
  Speaker 3: the thumb drive and set it up that way because
• 55:16
  Speaker 3: it seems scary and complicated. You don' want anybody to
• 55:18
  Speaker 3: steal it, or you don't want your housekeeper to throw
• 55:20
  Speaker 3: it away. And you're thinking about an exchange, there are
• 55:22
  Speaker 3: plenty of exchanges that would love to do business with you.
• 55:24
  Speaker 3: We have that. I want you to scan the code
• 55:26
  Speaker 3: if you're interested in looking at this. We do a
• 55:28
  Speaker 3: very critical review of all of the crypto the major
• 55:31
  Speaker 3: crypto exchanges to see which ones are best for who.
• 55:34
  Speaker 3: And if you want to look at our reviews, they're
• 55:36
  Speaker 3: written by our own editors who are crypto traders and
• 55:38
  Speaker 3: investors themselves, and we have the best for various types
• 55:42
  Speaker 3: of investors or traders. If you're a if you're a
• 55:45
  Speaker 3: hardcore trader, you might want something with a little more
• 55:47
  Speaker 3: horsepower cracking is that one for sure. But if you
• 55:51
  Speaker 3: just want to open an account and start collecting it,
• 55:53
  Speaker 3: start investing it, start learning about it, all of these
• 55:56
  Speaker 3: are fine. Crypto dot Com is good, right, coin Coinbase
• 56:00
  Speaker 3: is good right if you're looking at even cash app
• 56:04
  Speaker 3: will allow you to have a Bitcoin account there. Robinhood
• 56:06
  Speaker 3: allows you to have Bitcoin accounts and you can access
• 56:08
  Speaker 3: bitcoin if you have an existing account with Fidelity or
• 56:11
  Speaker 3: Schwab through exchange trade of funds that we'll talk about
• 56:15
  Speaker 3: in a quick second here. So we talked about volatility before.
• 56:18
  Speaker 3: This chart's old. I need to update or have my
• 56:19
  Speaker 3: team update it. But you've got to have a pretty
• 56:22
  Speaker 3: strong stomach to invest in bitcoin. And people will tell
• 56:25
  Speaker 3: you that they know why bitcoin fell from you know
• 56:28
  Speaker 3: whatever that was twelve hundred down to nine hundred in
• 56:32
  Speaker 3: twenty fifteen, but they really don't know. Somebody didn't want
• 56:36
  Speaker 3: it anymore, right, it's the greater fool theory. It's whatever
• 56:38
  Speaker 3: the next person thinks it's worth and if enough people
• 56:41
  Speaker 3: think it's worth a lot, then it's going to be
• 56:43
  Speaker 3: it's going to keep going up. Then why did it
• 56:44
  Speaker 3: spike to twenty seventeen to twenty thousand, Well that was
• 56:48
  Speaker 3: after the Trump tax cuts, so it became a little
• 56:50
  Speaker 3: bit easier on the capitol gains front to own risky assets.
• 56:54
  Speaker 3: Maybe that had something to do with it, Maybe not,
• 56:56
  Speaker 3: because it was going up from twenty fourteen, what interest
• 56:58
  Speaker 3: rates were really low. So again, and it doesn't have
• 57:00
  Speaker 3: the fundamentals of a stock. It has technicals. You can
• 57:03
  Speaker 3: look at patterns and how it trades, but you can't
• 57:06
  Speaker 3: really open up the hood and say, what's wrong with
• 57:08
  Speaker 3: the marketing department They're not doing a good enough job
• 57:10
  Speaker 3: advertising the product, or what's up with the gross profit margins.
• 57:13
  Speaker 3: It's not that type of thing. Just make sure that
• 57:16
  Speaker 3: you know, you've got to have a strong stomach and
• 57:18
  Speaker 3: know that bitcoin and all the cryptocurrencies are super volaile. Ope,
• 57:22
  Speaker 3: I didn't get to update this one. But why has
• 57:24
  Speaker 3: it been rallying since the election? Well, as I said,
• 57:26
  Speaker 3: Trump promised that we would be mining your own bitcoin
• 57:30
  Speaker 3: and he would make America the bitcoin capital of the world.
• 57:32
  Speaker 3: But I wanted to talk about exchange traded funds.
• 57:37
  Speaker 2: Right.
• 57:38
  Speaker 3: Some of the biggest money managers in the world in
• 57:41
  Speaker 3: twenty twenty four, in the beginning of this year started
• 57:44
  Speaker 3: offering what we call exchange traded funds ETFs. You can
• 57:47
  Speaker 3: buy them for stocks, you can buy them for bonds,
• 57:49
  Speaker 3: you can buy them for commodities. But the fact that
• 57:51
  Speaker 3: we can buy what we call spot bitcoin ETFs. These
• 57:55
  Speaker 3: are spot bitcoin ETFs right now and put it right
• 57:59
  Speaker 3: next to my mutual fund or right next to my
• 58:02
  Speaker 3: QQQ ETF and my four oh one K is a
• 58:05
  Speaker 3: very big deal. Now, if you own these ETFs, these
• 58:08
  Speaker 3: exchange traded funds, which are baskets of securities, you don't
• 58:12
  Speaker 3: actually own bitcoin. You own an exchange traded fund that
• 58:16
  Speaker 3: tracks the price of bitcoin. And here's a list of
• 58:18
  Speaker 3: the biggest ones by assets under management. When we talk
• 58:22
  Speaker 3: about exchange traded funds, you don't just go pick one
• 58:25
  Speaker 3: off the shelf. You want to look at the ones
• 58:27
  Speaker 3: that have the most assets under management, the most liquidity,
• 58:30
  Speaker 3: the most money running through them, a track record. They
• 58:33
  Speaker 3: didn't just get here, that are part of a reputable
• 58:36
  Speaker 3: firm that has had good success launching these ETFs and
• 58:39
  Speaker 3: a management team that you don't think is going to
• 58:41
  Speaker 3: disappear into the Cayman Islands when things get weird, right,
• 58:45
  Speaker 3: So I put a list here, but you could look
• 58:47
  Speaker 3: at the top bitcoin ETFs. Again, you won't own the
• 58:50
  Speaker 3: cryptocurrency itself. You will own an exchange traded fund that
• 58:54
  Speaker 3: tracks the price of that cryptocurrency. And that's super important
• 58:58
  Speaker 3: if you don't want to own an Jane's traded fund.
• 59:01
  Speaker 3: If you don't want to own the cryptocurrency itself, and
• 59:04
  Speaker 3: you want to own stocks that are sort of tracking
• 59:06
  Speaker 3: this whole ecosystem, well here's a list of them. I
• 59:08
  Speaker 3: mentioned micro Strategy, the biggest Bitcoin owner out there. It's
• 59:12
  Speaker 3: basically a treasury for bitcoin. That stock is up two
• 59:16
  Speaker 3: percent in the last three months. Canaan dot Io makes
• 59:20
  Speaker 3: a lot of the technology for mining cryptocurrency, high powered
• 59:23
  Speaker 3: fans and computer equipment that stocks up one hundred and
• 59:28
  Speaker 3: ninety six percent in the past few months. Coinbase itself
• 59:30
  Speaker 3: is a publicly traded company and it's a broker. That
• 59:33
  Speaker 3: stock's doing great, up ninety one percent in the past
• 59:36
  Speaker 3: few months. Riot Platforms makes equipment for blockchain, for the
• 59:41
  Speaker 3: development of blockchain and then bitcoin you can look at
• 59:44
  Speaker 3: bitcoin's price itself, up seventy six percent in the last
• 59:46
  Speaker 3: three months of fifty percent since the election because we
• 59:49
  Speaker 3: have a much more friendly administration coming in and a
• 59:52
  Speaker 3: new SEC chairman who actually likes bitcoin. So that's one
• 59:56
  Speaker 3: ways to do it now. And when it comes to taxes,
• 59:58
  Speaker 3: think of crypto in your account like a stock.
• 1:00:02
  Speaker 2: Right.
• 1:00:02
  Speaker 3: If you make a profit on that stock and sell
• 1:00:04
  Speaker 3: it and you have held it for less than a year,
• 1:00:07
  Speaker 3: it is short term capital gains and you will be
• 1:00:09
  Speaker 3: taxed at whatever your short term capital gains rate is
• 1:00:11
  Speaker 3: based on your marginal income. If you've held it more
• 1:00:14
  Speaker 3: than a year, it's taxed at a long term capital gains.
• 1:00:17
  Speaker 3: But if you haven't done your taxes this year, or
• 1:00:19
  Speaker 3: if you've been doing your own taxes for the past
• 1:00:20
  Speaker 3: few years, the first thing they ask you after your name,
• 1:00:24
  Speaker 3: after your filing status is if you own digital assets. Now,
• 1:00:29
  Speaker 3: this tells you that this asset has come a very
• 1:00:31
  Speaker 3: long way. If the IRS is asking you that out
• 1:00:33
  Speaker 3: of the gate, right, that's the first question. The real
• 1:00:36
  Speaker 3: question they ask you did you receive as a reward
• 1:00:39
  Speaker 3: or payment or property for services by sell, exchange or
• 1:00:42
  Speaker 3: otherwise dispose of a digital asset for a financial interest.
• 1:00:47
  Speaker 3: See instructions yes or no. If you put yes, then
• 1:00:49
  Speaker 3: you were saying I made a profit on the sale
• 1:00:51
  Speaker 3: of my bitcoin. You're going to have to file that
• 1:00:53
  Speaker 3: as a capital gains. It is a taxable asset. Even
• 1:00:56
  Speaker 3: though it is unregulated. The IRS is regulating it. They
• 1:00:59
  Speaker 3: have their You one more thing about keeping your crypto
• 1:01:02
  Speaker 3: safe and secure. If you're opening a cold wallet, Troy
• 1:01:05
  Speaker 3: mentioned that phrase right, keep your seed phrase confidential. These
• 1:01:09
  Speaker 3: are multi digit phrases. Right, write it down, put it
• 1:01:12
  Speaker 3: in a safe maybe send a copy to your mom,
• 1:01:15
  Speaker 3: but don't distribute it widely. Store it away from your device.
• 1:01:19
  Speaker 3: You don't want the thumb drive and the piece of
• 1:01:21
  Speaker 3: paper with your password next to each other.
• 1:01:23
  Speaker 4: Ever.
• 1:01:24
  Speaker 3: Use two factor on authentication. If you're using a hot wallet,
• 1:01:27
  Speaker 3: that means what it means, get a text message once
• 1:01:30
  Speaker 3: you try to log into your account to prove that
• 1:01:32
  Speaker 3: it's you. Strengthen your passwords, change them often.
• 1:01:35
  Speaker 2: Right.
• 1:01:35
  Speaker 3: If you're opening a hot wallet, you can do a
• 1:01:37
  Speaker 3: choiceet download it from an exchange website onto a drive. Right,
• 1:01:41
  Speaker 3: keep all the security on your devices up to date,
• 1:01:43
  Speaker 3: and back up that wallet. Because it's on you to
• 1:01:46
  Speaker 3: make sure your crypto's safe. Now, I'll take questions if
• 1:01:50
  Speaker 3: you want. We could talk about it some more. But
• 1:01:52
  Speaker 3: how do I get smart about this?
• 1:01:54
  Speaker 2: Well?
• 1:01:54
  Speaker 3: I read a ton right, but I follow some really
• 1:01:56
  Speaker 3: smart people. DAKFP is the Digital Assets Council for Finalancial professionals. Now,
• 1:02:01
  Speaker 3: this is really for financial advisors and planners. With the
• 1:02:04
  Speaker 3: way that Rick Adelman, who teaches these classes and who
• 1:02:07
  Speaker 3: developed the Digital Assets Council, the way he approaches it
• 1:02:10
  Speaker 3: helps people like me and you understand it, Like everything
• 1:02:13
  Speaker 3: here was not above my head. I didn't need to
• 1:02:14
  Speaker 3: be a financial advisor planner to understand this stuff. He
• 1:02:18
  Speaker 3: has a very clean way of understanding of explaining it.
• 1:02:20
  Speaker 3: I really like the Digital Assets Council. Lex Soklin is
• 1:02:23
  Speaker 3: one of the most intelligent futurists that I know. Used
• 1:02:26
  Speaker 3: to he hosted our crypto investing class on the Investipeda
• 1:02:30
  Speaker 3: Academy when we had that. I trust him a lot.
• 1:02:32
  Speaker 3: He's a super smart person who sees around the corner.
• 1:02:35
  Speaker 3: Coinbase has a great educational and learning part of their website.
• 1:02:39
  Speaker 3: If you want to learn anything about all these cryptocurrencies,
• 1:02:42
  Speaker 3: we have one too. Coinbase is more robust than if
• 1:02:45
  Speaker 3: you're already have an account there. It's a good place
• 1:02:47
  Speaker 3: to learn. The Black Billionaires Club, that's our boy, Lamar Wilson.
• 1:02:52
  Speaker 3: He's way smart software technician, very high level thinker. But
• 1:02:57
  Speaker 3: the Black Bitcoin Billionaire's Club. I learned a lot from him,
• 1:03:00
  Speaker 3: and he was at invest vest years ago. And then
• 1:03:02
  Speaker 3: the Whiteboard Crypto YouTube series I think is pretty basic
• 1:03:04
  Speaker 3: and pretty interesting if you want to learn these basics
• 1:03:07
  Speaker 3: and really geek out on them and watch them for
• 1:03:09
  Speaker 3: a while. They do a nice job of explaining things. Again,
• 1:03:12
  Speaker 3: I'm Caleb Silver were Invested Media. All this is available
• 1:03:14
  Speaker 3: to for free. I want to make sure if folks
• 1:03:16
  Speaker 3: got that uh that barcode at the beginning, if they
• 1:03:22
  Speaker 3: want to follow our educational stuff, scan that QR code
• 1:03:28
  Speaker 3: I should say, not barcode. And that's the intro to
• 1:03:30
  Speaker 3: bitcoin on Investorpedia.
• 1:03:33
  Speaker 4: There you have it.
• 1:03:34
  Speaker 1: It's a lot, Caleb, well done, Well done, appreciate it.
• 1:03:38
  Speaker 5: Let's take a few questions if people have questions before
• 1:03:42
  Speaker 5: we wrap. But man, just a lot of great insight.
• 1:03:45
  Speaker 5: Thank you from bringing it to the beginning stages all
• 1:03:47
  Speaker 5: the way to you know stocks that people can invest
• 1:03:50
  Speaker 5: in it. There's different types of ways that you can
• 1:03:52
  Speaker 5: invest right, so you can invest directly with bitcoin and
• 1:03:56
  Speaker 5: hold it your own wallet. You can invest in have
• 1:03:59
  Speaker 5: the custodian hold it for you, like the coinbase. You
• 1:04:01
  Speaker 5: can invest something that mirrors it ETFs. If you want
• 1:04:06
  Speaker 5: a higher level of security, you're not going to actually
• 1:04:08
  Speaker 5: own the asset, but it'll track in the same direction
• 1:04:11
  Speaker 5: as far as making money. Or you can have even
• 1:04:14
  Speaker 5: more leverage with the stocks, and even more leverage if
• 1:04:17
  Speaker 5: you want to do options on the stocks. Oh yeah,
• 1:04:21
  Speaker 5: that leverages it even higher as far as the volatility
• 1:04:24
  Speaker 5: on it. So it's a lot of different ways to
• 1:04:26
  Speaker 5: go about a security something that's very very very very
• 1:04:29
  Speaker 5: very important for sure.
• 1:04:33
  Speaker 7: Yes, okay, I got something for you.
• 1:04:35
  Speaker 1: And while we ciphered to some of these questions, when
• 1:04:39
  Speaker 1: when you made the purchase today for bitcoin, there's something
• 1:04:43
  Speaker 1: that's in there that people need to know because they
• 1:04:45
  Speaker 1: might say, Hey, I got one hundred dollars, here's one
• 1:04:47
  Speaker 1: hundred dollars. Why didn't my bitcoin convert over to whoever
• 1:04:51
  Speaker 1: percentage it is ofc talk about gas fees and transaction
• 1:04:55
  Speaker 1: fees because that's something that people that's like a hidden
• 1:04:58
  Speaker 1: fee that they're not going to live like, what did
• 1:05:00
  Speaker 1: that happen?
• 1:05:01
  Speaker 2: I thought I had this.
• 1:05:02
  Speaker 1: Amount, but when I actually got my bitcoin, it wasn't
• 1:05:05
  Speaker 1: the same dollar value.
• 1:05:07
  Speaker 3: Right. Bitcoin need to be mined, right, at some point
• 1:05:09
  Speaker 3: in time, that bitcoin that I bought off the exchange
• 1:05:11
  Speaker 3: of coinbase was mine right. It took labor, and I'm
• 1:05:14
  Speaker 3: not talking about you know, picks and shovels in the underground.
• 1:05:17
  Speaker 3: I'm talking about computing power to mine it. So when
• 1:05:20
  Speaker 3: you're buying cryptocurrencies or you're trading them, they are what
• 1:05:23
  Speaker 3: we call gas fees. It used to be transaction fees
• 1:05:26
  Speaker 3: when we traded stocks. The brokers eventually did away with
• 1:05:29
  Speaker 3: those because Robinhood basically killed that business, right, and they
• 1:05:33
  Speaker 3: just made trading free. And now we are the product
• 1:05:35
  Speaker 3: of Robinhood instead of the actual transactions. But that doesn't
• 1:05:38
  Speaker 3: exist yet in crypto because right we're not just trading
• 1:05:41
  Speaker 3: shares of pieces of paper. We're trading software that had
• 1:05:44
  Speaker 3: to be mined and created at one point. They call
• 1:05:45
  Speaker 3: them gas fees. You see it a lot in ethereum,
• 1:05:47
  Speaker 3: which is a smart token you used to buy things
• 1:05:49
  Speaker 3: like non fungible tokens, heavy gas fees. When you're buying
• 1:05:53
  Speaker 3: and selling ethereum or using it as a transactional method,
• 1:05:57
  Speaker 3: you'll end up leaking a little bit out, a little
• 1:06:00
  Speaker 3: bit of big as we like to call it on
• 1:06:02
  Speaker 3: the street, but that's what it is. Essentially. It doesn't
• 1:06:04
  Speaker 3: exist anymore in the stock market, but it does exist
• 1:06:07
  Speaker 3: in the cryptocurrency market.
• 1:06:08
  Speaker 5: And another thing, I notice that crypto is twenty four
• 1:06:10
  Speaker 5: hours a day too, so that's something that's different from
• 1:06:12
  Speaker 5: the market. You can buy it at all times of
• 1:06:15
  Speaker 5: the day, and especially like years ago, a lot of
• 1:06:17
  Speaker 5: it was getting moved by Asia, so there was a
• 1:06:19
  Speaker 5: lot of volatility that would happen in like three o'clock
• 1:06:22
  Speaker 5: in the morning and stuff like that. So that's important
• 1:06:25
  Speaker 5: just to keep in mind as far as if you
• 1:06:27
  Speaker 5: are interested in buying crypto. Somebody super chat had asked
• 1:06:32
  Speaker 5: the question that their friend had like fifty thousand dollars
• 1:06:34
  Speaker 5: to invest in this Bitcoin is safest.
• 1:06:36
  Speaker 4: This is just this is my personal opinion. Yeah, I
• 1:06:38
  Speaker 4: think that bitcoin is definitely.
• 1:06:40
  Speaker 5: The safest, the safest relative safe A is a is
• 1:06:44
  Speaker 5: a word that you know, has different definitions depending on
• 1:06:49
  Speaker 5: how you look at it. But I said this before.
• 1:06:52
  Speaker 5: When you look at bitcoin's chart, it's going up, it's
• 1:06:57
  Speaker 5: going down, but it's going up and most of these
• 1:07:00
  Speaker 5: all coins charts have not followed that same comparison. So
• 1:07:04
  Speaker 5: the opportunity to just you know, three thousand extra money
• 1:07:08
  Speaker 5: on one day is definitely there, probably on a no
• 1:07:11
  Speaker 5: name all coin, but there's also probably that that coin
• 1:07:15
  Speaker 5: can go to zero a lot of coins. I've seen
• 1:07:16
  Speaker 5: coins go to zero, master nodes and all these stuff,
• 1:07:20
  Speaker 5: Like you know, that was a big mistake, all of
• 1:07:22
  Speaker 5: these coins that I invested in, I would have just
• 1:07:25
  Speaker 5: been better off.
• 1:07:26
  Speaker 4: I put more my money in Bitcoin.
• 1:07:28
  Speaker 5: Majority of those coins either a never made it back
• 1:07:31
  Speaker 5: to the all time peak that happened in twenty seventeen,
• 1:07:34
  Speaker 5: or they disappeared, they went to zero, like that happens
• 1:07:38
  Speaker 5: that that does happen, the coins go to zero. So
• 1:07:41
  Speaker 5: dollar cost averaging is always the best way too, because
• 1:07:43
  Speaker 5: it's it's definitely.
• 1:07:47
  Speaker 4: A volatile situation.
• 1:07:48
  Speaker 3: You can't pick the top because you would have said
• 1:07:50
  Speaker 3: one hundred thousand was the top a couple of days ago.
• 1:07:52
  Speaker 3: We went down in ninety six. We could be at
• 1:07:54
  Speaker 3: one hundred and two tomorrow and there will be any
• 1:07:55
  Speaker 3: rhyme or reason. But something that Ian says a lot
• 1:07:59
  Speaker 3: on market money, and he's not wrong, Like we over
• 1:08:02
  Speaker 3: diversify sometimes we just try to buy it all because
• 1:08:04
  Speaker 3: we don't know, Like I'm putting on chips on all
• 1:08:06
  Speaker 3: the roulette pegs. Buy five of the biggest coins if
• 1:08:10
  Speaker 3: you're just getting into the market and you want to
• 1:08:12
  Speaker 3: learn about it. But bitcoin rules the roost right If
• 1:08:14
  Speaker 3: you just bought in video, you would have been great
• 1:08:16
  Speaker 3: in the past few years. Now, who knew that ps
• 1:08:19
  Speaker 3: and video is making GPUs for mining cryptocurrency after it
• 1:08:23
  Speaker 3: made a ton of money making GPUs for video games
• 1:08:26
  Speaker 3: going on crypto and now it's doing it for AI.
• 1:08:28
  Speaker 3: Why is somebody You're doing so well spending the right
• 1:08:30
  Speaker 3: place at the right time. But pick five healthy coins
• 1:08:34
  Speaker 3: that have a history, a track record, and a software
• 1:08:37
  Speaker 3: that you can basically understand, and dollar cost average your win,
• 1:08:41
  Speaker 3: and don't risk more than five percent of your portfolio. Heck,
• 1:08:44
  Speaker 3: don't even risk more than three percent of your portfolio
• 1:08:46
  Speaker 3: if you're scared. Make sure you don't have a loss
• 1:08:48
  Speaker 3: that is unrecoverable. And I would tell you that about stocks,
• 1:08:51
  Speaker 3: I would tell you that about gold, I would tell
• 1:08:53
  Speaker 3: you that about everything. Don't have an unrecoverable loss. But Bitcoin,
• 1:08:57
  Speaker 3: because it's new, and because it's speculative, because it as
• 1:09:00
  Speaker 3: all of these issues where it's not regulated, but it
• 1:09:02
  Speaker 3: might be. You never know what's going to happen, so
• 1:09:04
  Speaker 3: don't make a risk that's so big that wipes you
• 1:09:06
  Speaker 3: out completely.
• 1:09:07
  Speaker 7: Yeah, that's important to know.
• 1:09:09
  Speaker 1: And then each exchange is not the same, right, So
• 1:09:11
  Speaker 1: some exchanges don't offer all coins, right, So like when
• 1:09:14
  Speaker 1: people see Bitcoin, they see Ethereum, they might see Solana
• 1:09:19
  Speaker 1: or s Every coin is not on every brokerage or
• 1:09:22
  Speaker 1: every platform. So that's good to know. The other part
• 1:09:25
  Speaker 1: is and this is why it's important to have education.
• 1:09:28
  Speaker 1: It's like, yes, you can trade your US FIAT to
• 1:09:31
  Speaker 1: buy bitcoin, right, but some of these other coins you
• 1:09:34
  Speaker 1: have to convert to Bitcoin to actually purchase, so you
• 1:09:37
  Speaker 1: might have to get ether, which means you'd have to
• 1:09:39
  Speaker 1: buy ethereum. This is when it gets tricky, when you're
• 1:09:42
  Speaker 1: trying to figure out where it's going, how to send it.
• 1:09:45
  Speaker 1: I always recommend copy and paste, copy and paste if
• 1:09:48
  Speaker 1: it is available, copy and paste. Can you talk about
• 1:09:51
  Speaker 1: that process, because I don't think people understand all. They
• 1:09:54
  Speaker 1: want to buy Solana, but they don't know how.
• 1:09:56
  Speaker 4: Well that's my call. Coin Base.
• 1:09:58
  Speaker 5: That's why coin base is good. Right, most of those
• 1:10:02
  Speaker 5: Robinhood coin Base allo types of they have. Coinbase has
• 1:10:05
  Speaker 5: a lot of coins. Yeah, you would have to go
• 1:10:08
  Speaker 5: all the way down. A coin is not on Coinbase,
• 1:10:12
  Speaker 5: you probably does.
• 1:10:13
  Speaker 3: You don't want to own that exactly, and that's true. Right. So,
• 1:10:17
  Speaker 3: so it's you know, they may all live in the
• 1:10:20
  Speaker 3: same supermarket, but you can't trade one for the other
• 1:10:23
  Speaker 3: without converting one to the other in some cases. Right,
• 1:10:26
  Speaker 3: So I want to buy, you know, something that is
• 1:10:29
  Speaker 3: more a proof of steak, you might need to use,
• 1:10:31
  Speaker 3: you know, an ethereum for that. If you want to
• 1:10:33
  Speaker 3: buy something that is more tied to the dollar, using
• 1:10:35
  Speaker 3: FIAC currency for a tether. So it gets very complicated.
• 1:10:39
  Speaker 3: That's why you have to understand the rules of how
• 1:10:41
  Speaker 3: these are traded and how they are and how you
• 1:10:44
  Speaker 3: can operate within them. So when Rashad says, just by bitcoin,
• 1:10:48
  Speaker 3: it's the simplest one to understand. It has the longest
• 1:10:51
  Speaker 3: price history in it, you can see kind of who
• 1:10:55
  Speaker 3: owns what. It's the easiest one to wrap your mind around.
• 1:10:58
  Speaker 3: But I pick a few of those. But if you
• 1:11:00
  Speaker 3: are converting between coins and there are transaction fees every
• 1:11:03
  Speaker 3: time you do that, sometimes you have to open a
• 1:11:05
  Speaker 3: special part of your account or open it up at
• 1:11:07
  Speaker 3: a higher subscriber level, or pay a new fee because
• 1:11:10
  Speaker 3: you're accessing a new asset class. It is not like
• 1:11:13
  Speaker 3: having a Schwab account where you're just like, oh, well,
• 1:11:15
  Speaker 3: take some mutual funds and maybe some index funds. Let
• 1:11:17
  Speaker 3: me buy a few stocks over here and some ETFs,
• 1:11:20
  Speaker 3: and I'll buy a couple of bonds from my portfolio
• 1:11:22
  Speaker 3: as well, all in the same supermarket. You're in the
• 1:11:24
  Speaker 3: same supermarket, but you got to use different currencies to
• 1:11:27
  Speaker 3: transact sometimes and it becomes very complicated. So you have
• 1:11:30
  Speaker 3: to have a very smart way of keeping track of
• 1:11:32
  Speaker 3: what you do, which really goes for all of investing,
• 1:11:34
  Speaker 3: but especially here because it's all digital, right, and a
• 1:11:38
  Speaker 3: method to what you're doing. Otherwise you can burn a
• 1:11:40
  Speaker 3: lot of money in trading fees and in gas fes.
• 1:11:43
  Speaker 5: And yeah, I think that Eric Trump was just a
• 1:11:47
  Speaker 5: thinking Abu Dhabi and he was speaking about cryptocurrency, and
• 1:11:54
  Speaker 5: it would probably the way that they're talking about this stuff.
• 1:11:58
  Speaker 5: You know, one thing about Trump is that billionaires hang
• 1:12:00
  Speaker 5: around billionaires. That's one thing I learned. And we talked
• 1:12:05
  Speaker 5: about TikTok, like when TikTok was gonna be in banned.
• 1:12:07
  Speaker 5: I was just saying, like, you know, Trump has too
• 1:12:08
  Speaker 5: many rich friends. I don't see you happy at the
• 1:12:10
  Speaker 5: end today. Lo and behold, they was saying one of
• 1:12:13
  Speaker 5: his billionaire friends wants to buy TikTok and they're waiting
• 1:12:16
  Speaker 5: for him to get an office so that they could
• 1:12:18
  Speaker 5: purchase the company. So, you know, it's so much money,
• 1:12:22
  Speaker 5: so much opportunity to be made in crypto. And if
• 1:12:25
  Speaker 5: you listen to anything that they're saying, whether there's anybody
• 1:12:28
  Speaker 5: in that in the in the in the circle, they're
• 1:12:32
  Speaker 5: gonna do everything that they possibly can to pump cryptocurrency
• 1:12:38
  Speaker 5: for the next four years.
• 1:12:41
  Speaker 3: Yeah, and why is that because billionaires like because billionaires
• 1:12:46
  Speaker 3: like billionaires hanging around billionaires and doing favors to people
• 1:12:50
  Speaker 3: that are going to help you get reelected to get
• 1:12:51
  Speaker 3: the next person in your party elected. That's the way
• 1:12:53
  Speaker 3: the political machine works, right. You spend the first two
• 1:12:56
  Speaker 3: years trying to maybe make good on your promises, been
• 1:12:58
  Speaker 3: they gotta spend the next two years getting re elected.
• 1:13:00
  Speaker 3: That means paying back favors. Who's on the cover of
• 1:13:03
  Speaker 3: Time as the most influential person or the person of
• 1:13:05
  Speaker 3: the year today, who owns Time?
• 1:13:10
  Speaker 7: Yeah, benil Uh CEO of Salesforce. Yeah, another billionaire.
• 1:13:16
  Speaker 5: Right, it's all connected, It's all connected all and you
• 1:13:22
  Speaker 5: saw did you see that meta?
• 1:13:24
  Speaker 4: For the first time in Facebook's history, a million dollars will.
• 1:13:28
  Speaker 5: Donate a million dollars to the inauguration of Donald Trump.
• 1:13:31
  Speaker 5: They've never donated money to an inauguration present ever.
• 1:13:35
  Speaker 3: Jeff Bezos a million dollars. Right, he bought the Washington
• 1:13:39
  Speaker 3: Post so he could keep him out of office. I
• 1:13:41
  Speaker 3: guess things changed.
• 1:13:42
  Speaker 4: And for the and for the first time in Washington
• 1:13:44
  Speaker 4: Post history, they didn't. They didn't.
• 1:13:46
  Speaker 3: They didn't endorse, they.
• 1:13:47
  Speaker 4: Didn't endorse it. They didn't doss the candidate.
• 1:13:48
  Speaker 2: Right.
• 1:13:49
  Speaker 7: So, and now he's the second wealthiest person in the world.
• 1:13:52
  Speaker 3: To re quote the wire, you want it to be
• 1:13:54
  Speaker 3: one way, but it's an other way, all connected. Sometimes
• 1:13:59
  Speaker 3: it's the other way.
• 1:14:00
  Speaker 2: Kail up.
• 1:14:00
  Speaker 7: Your cultural relevance never seems to amaze me.
• 1:14:03
  Speaker 5: I'm old, that's a fact. So yeah, I mean follow
• 1:14:10
  Speaker 5: the money. If you follow I have to say, if
• 1:14:12
  Speaker 5: you're following the money, it looks like it looks like
• 1:14:18
  Speaker 5: the wind is at the back of crypto right now.
• 1:14:23
  Speaker 1: Yeah, some people asking so which exchange? Uh, And we
• 1:14:28
  Speaker 1: experienced this right. It was like we were trying to
• 1:14:30
  Speaker 1: figure out what exchange do we keep everything on one exchange?
• 1:14:32
  Speaker 2: Right?
• 1:14:33
  Speaker 1: We talk about this formula especially wh we're investing in
• 1:14:35
  Speaker 1: the market where we have maybe Fidelity just for our stocks,
• 1:14:39
  Speaker 1: and we have each trace strictly for our options, and
• 1:14:43
  Speaker 1: we might have you know, we separated by platforms.
• 1:14:48
  Speaker 7: What's your thoughts on having a.
• 1:14:50
  Speaker 1: Coin base and I mean maybe having a Kraken and
• 1:14:53
  Speaker 1: you know, at one point I had Finance and I
• 1:14:55
  Speaker 1: had gate Io and all these things. Gemini had Gemini
• 1:14:58
  Speaker 1: as well, and it it becomes a lot to track
• 1:15:02
  Speaker 1: and try to keep account for.
• 1:15:04
  Speaker 7: What's your thoughts around that?
• 1:15:05
  Speaker 3: Sounds like your sneaker collection, Troy? You know me, Well,
• 1:15:09
  Speaker 3: I'm all for simplicity and for not over complicating something
• 1:15:13
  Speaker 3: that is already very complicated. We gave you a list
• 1:15:16
  Speaker 3: of exchanges. If you really want to get out on
• 1:15:19
  Speaker 3: the edge, cracking is the place to go where you
• 1:15:21
  Speaker 3: can do very very exotic type trading and access a
• 1:15:25
  Speaker 3: bunch of different platforms. If you just want to start
• 1:15:27
  Speaker 3: dollar cost averaging and building a portfolio of crypto assets,
• 1:15:30
  Speaker 3: then any of these brokers are fine. Even Blackrock will
• 1:15:34
  Speaker 3: help you do that. Even Schwab will help you. I
• 1:15:37
  Speaker 3: think Custodian, some ETF, some crypto ETFs, but Fideli's allowing
• 1:15:43
  Speaker 3: you to do it today. Coinbases definitely, that's what they do.
• 1:15:47
  Speaker 3: Robinhood allows you.
• 1:15:48
  Speaker 2: To do it today.
• 1:15:49
  Speaker 3: You really can't go wrong unless you really want to
• 1:15:51
  Speaker 3: get very complicated with it. And even like a tasty
• 1:15:54
  Speaker 3: tasty trade will allow you to do some options, play
• 1:15:57
  Speaker 3: interactive brokers if you want to do it on the
• 1:15:59
  Speaker 3: international front, they all allow it to a certain degree.
• 1:16:02
  Speaker 3: But for basic investors that are building positions and trying
• 1:16:06
  Speaker 3: to just make sure they understand it, I would keep
• 1:16:08
  Speaker 3: it all in one place for now. And if you
• 1:16:10
  Speaker 3: decide that you need to get a little bit more advanced,
• 1:16:13
  Speaker 3: then the platform you have doesn't access allow you access
• 1:16:16
  Speaker 3: to the coins you want, or the tokens or the
• 1:16:18
  Speaker 3: types of trades you want. Then it's okay to either
• 1:16:21
  Speaker 3: take on a new one for those types of trades.
• 1:16:23
  Speaker 3: But simplicity is best in a complicated asset.
• 1:16:28
  Speaker 5: Yeah you have it, that is a fact. That is
• 1:16:31
  Speaker 5: a fact, and uh yeah you can. You can keep
• 1:16:36
  Speaker 5: it on a ledger, but just be careful.
• 1:16:39
  Speaker 4: That's it.
• 1:16:40
  Speaker 5: Keep it on Like I like, if you had if
• 1:16:43
  Speaker 5: you had ten million dollars, all right, speaking to the audience,
• 1:16:47
  Speaker 5: put it in chat, if you had ten million dollars
• 1:16:49
  Speaker 5: in cash, would you rather have it in a volte
• 1:16:55
  Speaker 5: in your basement or would you rather have it in
• 1:16:59
  Speaker 5: Chase Bank?
• 1:17:01
  Speaker 4: Neither one is the wrong answer.
• 1:17:04
  Speaker 3: But if you're honest, you're having in fifty.
• 1:17:07
  Speaker 4: Banks at least at least not at least.
• 1:17:14
  Speaker 3: That's that two hundred and fifty thousand dollars of it
• 1:17:16
  Speaker 3: is protected by each bank. But look at all these
• 1:17:20
  Speaker 3: NBA players and the NFL players are getting their house
• 1:17:23
  Speaker 3: robbed when they leave it out for a game. Schedules
• 1:17:25
  Speaker 3: out there for everybody to see.
• 1:17:27
  Speaker 2: They know the road game.
• 1:17:29
  Speaker 4: So yeah, so a lot of people are saying vote.
• 1:17:31
  Speaker 5: So if you if you, if you say vote, then
• 1:17:33
  Speaker 5: you should have it an alleged you should have your
• 1:17:35
  Speaker 5: own ledger. If you're saying Chase Bank, then you should.
• 1:17:38
  Speaker 4: Have it with Yeah. That was one of the things
• 1:17:42
  Speaker 4: dot com or coinbase.
• 1:17:44
  Speaker 1: One of the things Chris was saying on Monday night,
• 1:17:47
  Speaker 1: which is just he wants to be in control of everything.
• 1:17:50
  Speaker 1: He doesn't want to have anybody in control of it
• 1:17:52
  Speaker 1: by themselves. And so that's one of those things.
• 1:17:54
  Speaker 4: Is until they until they take.
• 1:17:57
  Speaker 1: Until until the house burns down, right, they blow up
• 1:17:59
  Speaker 1: your else. So somebody robs your house and now all
• 1:18:02
  Speaker 1: the money's going. But if you're going to have that
• 1:18:04
  Speaker 1: level of control, you you have to equally have that
• 1:18:07
  Speaker 1: level of security.
• 1:18:08
  Speaker 3: Yeah, you're the CFO, you're the CTO, you're the CEO,
• 1:18:12
  Speaker 3: and you're the chief security officer.
• 1:18:16
  Speaker 4: And this is vitally important too.
• 1:18:20
  Speaker 5: M have some when I was a financial advis little
• 1:18:24
  Speaker 5: thing called a beneficial right handbook, because if I have
• 1:18:27
  Speaker 5: life insurance and I brought a million dollar life insurance policy, right,
• 1:18:32
  Speaker 5: let's say, and I secure my life insurance policy in
• 1:18:37
  Speaker 5: a safe, and I have my will, I have my trust,
• 1:18:40
  Speaker 5: I have all my documents, I have my retirement plan,
• 1:18:42
  Speaker 5: I have it in the safety. I'm just a very
• 1:18:44
  Speaker 5: paranoid person. I have everything in the safe. And you know,
• 1:18:47
  Speaker 5: nobody's planning on dying. But let's just say, you know
• 1:18:49
  Speaker 5: I just die one day. Right, Well, if I never
• 1:18:54
  Speaker 5: told anybody I have this stuff, it doesn't matter. I
• 1:18:58
  Speaker 5: can't rely on life insurance companies calling you. They're not
• 1:19:02
  Speaker 5: I worked in the industry. It's not going to happen.
• 1:19:06
  Speaker 5: Millions of dollars of life insurance never gets paid out
• 1:19:11
  Speaker 5: because they were never notified that the person dies. What
• 1:19:14
  Speaker 5: ends up happening is that you're no longer alive, so
• 1:19:16
  Speaker 5: you stop paying your premium, your policy lapses, and the
• 1:19:19
  Speaker 5: company keeps the money.
• 1:19:20
  Speaker 4: I say that to say.
• 1:19:24
  Speaker 5: If you are keeping it in a ledger and you
• 1:19:27
  Speaker 5: do have a complicated security code, well you got to
• 1:19:32
  Speaker 5: tell somebody the code, or you got to tell somebody
• 1:19:35
  Speaker 5: to access to the code, because if you die and
• 1:19:40
  Speaker 5: nobody knows anything, then you're.
• 1:19:43
  Speaker 4: Screwed with you.
• 1:19:46
  Speaker 3: I saw a stat that you know, tens of millions
• 1:19:49
  Speaker 3: of dollars in crypto is just gone disappearity. The people
• 1:19:52
  Speaker 3: lost it died without telling anybody the code. Right, that
• 1:19:55
  Speaker 3: is very important. I'm glad you mentioned that, Rashad, because
• 1:19:58
  Speaker 3: if you're working with a financial advisor or planner or
• 1:20:01
  Speaker 3: a lawyer who helps you with your wills and your trust,
• 1:20:03
  Speaker 3: your a vocable trust, you have to make sure that
• 1:20:06
  Speaker 3: you you are very explicit about the transfership of that
• 1:20:09
  Speaker 3: custodianship of your crypto assets, otherwise it will disappear. Right,
• 1:20:15
  Speaker 3: you have to have to be very explicitly laid out
• 1:20:18
  Speaker 3: in your trust or your will.
• 1:20:20
  Speaker 7: Yeah.
• 1:20:21
  Speaker 3: Yeah, we're still building the rules around this. This is
• 1:20:23
  Speaker 3: a fourteen year old asset. So like the highways, there
• 1:20:26
  Speaker 3: was no rules when we first started driving. There was
• 1:20:28
  Speaker 3: a lot of accidents until they started making rules, rules
• 1:20:31
  Speaker 3: and regulations around custodianship. We need them, especially in this
• 1:20:36
  Speaker 3: really exotic asset class. But that's I'm so glad you
• 1:20:39
  Speaker 3: mentioned that I forgot.
• 1:20:40
  Speaker 5: That also helps us supply and demand situation because unlike
• 1:20:43
  Speaker 5: the Fiat money, if you have money in the bank
• 1:20:45
  Speaker 5: and then you just disappear the money, the bank's going
• 1:20:49
  Speaker 5: to keep your money if there's no beneficiary, and they're
• 1:20:51
  Speaker 5: going to you know, go to But I feel like,
• 1:20:53
  Speaker 5: sa she, let's say hypothetically he or she died that
• 1:21:00
  Speaker 5: that that's gone. It's not like it's going to go
• 1:21:04
  Speaker 5: back into the supply chain.
• 1:21:05
  Speaker 3: Yeah.
• 1:21:06
  Speaker 5: No, So that's actually beneficial. That's actually been official to
• 1:21:11
  Speaker 5: people that have bitcoin because it increases the viuce. It's
• 1:21:13
  Speaker 5: not like it's an ongoing cycle of I lose my
• 1:21:18
  Speaker 5: bitcoin and now it just goes back into the supply
• 1:21:20
  Speaker 5: then you can buy my bitcoin.
• 1:21:22
  Speaker 4: I lose my bitcoin, it's just like game, like I
• 1:21:25
  Speaker 4: just burned it.
• 1:21:26
  Speaker 1: Especially a whale as I told you you're talking about.
• 1:21:28
  Speaker 1: We've talked about that infancit infinite supply of twenty one
• 1:21:31
  Speaker 1: million tomorrow. If that twenty one million now turns to
• 1:21:34
  Speaker 1: be twenty million, you're going to see this thing.
• 1:21:36
  Speaker 7: I mean, this is really to the moon.
• 1:21:38
  Speaker 3: Yeah right, yep. So I already got a tight enough supply.
• 1:21:41
  Speaker 3: So any big whale you know, makes a big move
• 1:21:45
  Speaker 3: of it. That's what makes bitcoin move.
• 1:21:46
  Speaker 2: It.
• 1:21:47
  Speaker 3: It's not because it wound up in the newspaper, it's not.
• 1:21:50
  Speaker 3: It's because somebody big is buying it or selling it.
• 1:21:53
  Speaker 3: And the most important thing we were talking about this
• 1:21:55
  Speaker 3: before we started is this belief system. Right. We have
• 1:21:59
  Speaker 3: an expression in economics, and I'm not trying to be
• 1:22:01
  Speaker 3: rude to throw she but it's called the greater fool theory.
• 1:22:04
  Speaker 3: And in a lot of cases when you look at
• 1:22:06
  Speaker 3: these cryptocurrencies, they operate under that theory. What is the
• 1:22:09
  Speaker 3: next fool think it's worth? Because that's what the price is.
• 1:22:13
  Speaker 3: That's where the price is. It's whatever the next person
• 1:22:16
  Speaker 3: thinks it's worth. And if people think it's worth one
• 1:22:18
  Speaker 3: hundred thousand and they own enough of it, that's what
• 1:22:20
  Speaker 3: it's worth today. They could change their mind tomorrow. A
• 1:22:22
  Speaker 3: lot of this is about belief and you have to
• 1:22:25
  Speaker 3: understand that and accept that if you're going to be
• 1:22:27
  Speaker 3: an investor in cryptocurrencies, that's just the game.
• 1:22:31
  Speaker 5: There, you have it, Okay, all right. I think this
• 1:22:35
  Speaker 5: was a very educational conversation that we had.
• 1:22:38
  Speaker 7: It's been a pretty impressive week in terms of crypto
• 1:22:41
  Speaker 7: for us.
• 1:22:41
  Speaker 5: Yeah, for sure, we did a lot for your crypto enthusias.
• 1:22:44
  Speaker 5: Has said that we never talk about crypto, leave us alone.
• 1:22:49
  Speaker 5: We gave you education all week long.
• 1:22:51
  Speaker 3: Talk about beauty bonds next week, sure, next week to it.
• 1:22:55
  Speaker 4: For sure. We're on real estate, what condos and Arizona.
• 1:23:01
  Speaker 7: We're buying more data centers for sure.
• 1:23:05
  Speaker 4: All right, all right, Caleb, thank you.
• 1:23:09
  Speaker 5: Always a pleasure whenever we get to link.
• 1:23:14
  Speaker 4: Appreciate your time. Short notice too.
• 1:23:16
  Speaker 5: I called you last week and asked you if you
• 1:23:19
  Speaker 5: could do this and you said no problem, so as
• 1:23:23
  Speaker 5: always for me.
• 1:23:25
  Speaker 3: And I appreciate that you sharing the platform. And again,
• 1:23:28
  Speaker 3: you guys have done so much to educate people. It's
• 1:23:30
  Speaker 3: really it's an honor to be working with you, and
• 1:23:32
  Speaker 3: I'm glad we're friends and I'm happy to do this anytime.
• 1:23:35
  Speaker 1: And I also appreciate the Master Malli picture in the back.
• 1:23:40
  Speaker 1: Before we came on, we were talking about the great
• 1:23:42
  Speaker 1: country of Jamaica. So I know you have a love
• 1:23:44
  Speaker 1: for it as much as I do.
• 1:23:46
  Speaker 7: So I appreciate that.
• 1:23:47
  Speaker 3: My pleasure that actually came from tough Goong studios in
• 1:23:50
  Speaker 3: Jamaica about forty years ago. I abought that poster.
• 1:23:53
  Speaker 1: Still with me, so I got my god one love.
• 1:23:58
  Speaker 4: Indeed, all right, all right, my brother, thank you.
• 1:24:05
  Speaker 2: Appreciate good, appreciate love.
• 1:24:07
  Speaker 7: How about.
• 1:24:11
  Speaker 4: Okay, we can end this live. There's no more.
• 1:24:16
  Speaker 8: An illegal alien from Guatemala charged with raping a child
• 1:24:19
  Speaker 8: in Massachusetts. An MS thirteen gang member from Al Salvador
• 1:24:23
  Speaker 8: accused of murdering a Texas man of Venezuelan charged with
• 1:24:28
  Speaker 8: filming and selling child pornography in Michigan. These are just
• 1:24:32
  Speaker 8: some of the heinous migrant criminals caught because of President
• 1:24:35
  Speaker 8: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 1:24:39
  Speaker 8: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 1:24:44
  Speaker 8: crossings are at the lowest levels ever recorded, and over
• 1:24:47
  Speaker 8: one hundred thousand illegal aliens have been arrested. If you
• 1:24:51
  Speaker 8: are here illegally, your next You will be fine nearly
• 1:24:55
  Speaker 8: one thousand dollars a day, imprisoned, and deported. You will
• 1:24:59
  Speaker 8: never return. But if you register using our CBP home
• 1:25:02
  Speaker 8: app and leave now, you could be allowed to return legally.
• 1:25:06
  Speaker 8: Do what's right. Leave now. Under President Trump America's laws,
• 1:25:11
  Speaker 8: border and families.
• 1:25:13
  Speaker 3: Will be protected. Sponsored by the United States Department of
• 1:25:15
  Speaker 3: Homeland Security,