Bitcoin for Beginners: Understanding the Future of Cryptocurrency

Move forward with your education and advance your career with a top ranked undergraduate or graduate degree from Colorado state university global. They offer over 30 in demand programs, including business finance and project management, all taught by faculty with industry experience. Learn more about their online flexible degree programs [email protected]. Ready to apply. Use code money [email protected] to waive the application fee and save.

You’ve probably been hearing a lot about Bitcoin and cryptocurrency in the news. These days on October 20th, 2021, Bitcoin shot up to $66,975. And then yesterday evening on November eight, it reached a new all time high over $68,000. If you’ve been wondering what all the hype is about, or maybe if it’s time for you to dip your toes in the cryptocurrency waters, be sure to stay with me. I’ve got a very special show coming up. Hello friends, and thank you for joining me this week. My name is Laura Adams. I’m a and small business expert and author. Who’s been hosting the money girl podcast since 2008. If you wanna earn more money with a side hustle or you’ve already started your own business, be sure you don’t miss my latest book. It’s called money smart solopreneur, a personal finance system for freelancers entrepreneur and side hustlers. It was published by entrepreneur press and was an Amazon number one new release.

You can get it as a paperback ebook or audiobook. Chris hill. The host of the Motley fool money podcast says this book is more than mere inspiration. Laura Adams has written an indispensable map for navigating the pitfalls, everyone faces, but doesn’t think about when they’re starting a side hustle or their own business. So I hope you will check it out too. On this podcast. My mission is to help you get the knowledge and motivation to prioritize your finances, build wealth and have more security and less. Every show is created to be like a mini training. I wanna make sure you come away with practical advice and tips that will help you make better money decisions and take your financial life to the next level. So I’m so glad that you’re here and I hope you’ll stick around. I hope you’ll subscribe to the show and also think about participating.

You can send me your, any questions or comments. Leave a voice message at 3 0 2 3 6 4 0 3 0 8, or send me an email using my [email protected] or connect with me on Instagram at Laura D. Adams. And every week we publish a companion blog post that we call the show notes. You can find them every week in the money girl [email protected]. Today’s episode is number 707 called Bitcoin four beginners. Understanding the future of cryptocurrency. I spent a fantastic week last week in New York city for some work and play. I saw some shows and just ate some amazing food, caught up with some friends and some, uh, colleagues. I was super excited to spend time with the [email protected] who were in the office to discuss crypto and investing. I interviewed Fred Shaa, who is the founder of finder.com. He’s also the author of an amazing new book called go live 10 principles to launch a global empire.

Fred’s been investing in Bitcoin and alt since 2017, and he’s going all in incorporating crypto into his business strategy. We had a fantastic conversation about his background business evolution challenges as a founder, his personal investing strategy and all kinds of ideas about the future of cryptocurrency. Stay with me for this fantastic interview. And you’ll learn common misunderstandings about investing in cryptocurrency, how to begin slowly adding crypto to your investment portfolio, why Bitcoin is different from other types of crypto or TCO strategies for short term trading versus long term, and investing how to keep the crypto you purchase secure from cyber theft, the most compelling reasons why everyone should consider investing in crypto and where to learn more about investing and earning high yields on crypto balances.

So here we go, Fred, I am so excited to be in the, with you. This is amazing. Um, thank you for doing this. I’d love to start with a little bit about your background. Where are you From? Well, I grew up in Australia, which is a long way away, um, and I’ve always been into, you know, personal finance and investing personally. I love, love that. Um, I went to university, didn’t turn up that much. And I actually started a company when I was at, at college, um, building people’s websites and marketing them. And, um, one of the experiments we tried was, um, a credit card comparison site, and that sort of grew, uh, organically into quite a large company. And now, you know, finders in several places around the world. And, um, now we’re building, you know, this, this really, this new app that, that helps people manage their money and invest their money and leverage a lot of cryptocurrency products, which is super exciting.

So you’ve really made a change originally from just credit cards. Mm-hmm then you went into more products. Yes. Where, what do you see the future of finder as being Well?

I think that cryptocurrency is, uh, providing all of these new, uh, and alternate ways that, you know, really money is used. Money is spent stored, uh, you can earn interest yield. It’s replacing a lot of the systems which are quiet legacy, quite old to actually deliver, I guess, similar products, but, but better. Um, so you can move money instantly. You can, um, get higher yields than at a, at a traditional bank. You can borrow money instantly without a credit score. And all of these friction points that exist, it can really overcome. And I think that’s eventually where we’re going to, where there’ll be a full digital world. People live in like a metaverse, um, and there’ll be banks in there and there’ll all be digital currencies. Like you wouldn’t wanna wait for some external non-digital system when you’re in a full digital world. You know, the COVID thing really brought that forward like 10 years. Cause everyone’s at home, they got all this time. You’ve got digital friendships, you’ve got digital identity, you’ve got digital bank accounts. And now what’s the difference in going and working in the digital world. You’ve got play to earn games, which are digital people, making money from playing games is where it’s all gonna coalesce. And yeah, I, I think in the next 10 years, banks will look a bit like fax machines.

I totally Agree. I think you’re right. Congratulations on publishing a book a couple months ago, you published go live 10 principles to launch a global empire. What does going live mean to you?

Well, I, you know, I have a bias to putting things, things, you know, live on the internet. You know, I have this rule that if you know, it’s on your computer, that it doesn’t really exist. Um, it’s not until you show it to the world. And, and that’s, that’s, that’s what this book’s about. It’s that mindset, you know, when you get to those areas, when you’re stopping about pushing past those moments in time of doubt, um, you know, feelings of self self-judgment of, you know, you not being good enough, feeling unworthy, you know, and, and, and that sort of share quite vulnerably, all those moments and stories that I personally went through, how I overcame them of things. And, and, you know, I think it’s, it’s not necessarily like this. You must do this. This is a mindset because you are gonna execute your business and you can, there are other books that teach you how to do things. This is about solving that, why that underlying burning push to actually get something into the world. And you are essentially, normally a founder is actually the biggest asset a company has in the start because you are the only one there. Um, and so this is what this book helps you with. It helps you go life. It helps you get off the ground with whatever it is you’re doing.

What is your why?

Um, I love to win. That sounds strange, but like, it’s, I, I broke this down once and I went to like the absolute canonical of it, like where was the end? And eventually it all came back to just winning, like winning things for the sake of winning, you know, and I’m just a very competitive person. I think my purpose starts, um, around the idea of creating things, bot to do that, to get that win and sort of, it sort of comes out the back of that. So I, I create things that serve people and, and, and help them, you know, make money or save money. And by more, the more people I, you know, make money or save money, the more, the more I benefit, the more I win, because the more they’ve won and there’s this natural symbiosis in that, my ultimate, uh, sort of why right now, and I, I sort of had this idea that, you know, a purpose, you can just make up a purpose.

Like, you know, if you don’t have to search for one, if you haven’t got one, we’ll just make one up, you know, and I’ve made up three and I’m on my fourth one, but my purpose right now is to create something no one’s ever done before. And, and obviously it needs to help a lot of people and help ’em save money, make money. That’s only possible because, you know, I think I’ve created a lot of things in the past and learned a lot of lot. I’ve made a lot of mistakes. I’ve got a massive grade yard of errors that I’ve made. But my, my, my ultimate is to get to a place where, you know, there’s a legacy created from something I’ve created. Uh, and it’s not just me. It’s a team that creates these things. It’s not, I, I’m not, I’m merely one part of that. Um, but I think I I’m able to create a good environment and a group, um, group of individuals that come together to create these, these, these things that no one’s ever done before.

What do you think is the hardest part about being the leader of a global company?

I think continuously getting local context, I think that was really hard not being in the country like being back here in New York has helped so much, just remember the struggle, remember the challenge, remember the differences and start to translate the organization that strategy towards that has been amazing. Absolutely amazing. That local context is it’s very hard to write down. You can it, and you can hear it, but when you feel it and you are there, I think that’s the only moment in time when you really get that. And I did a lot of traveling before and I was not able to travel very much. I was, you know, sort of locked in Australia for one and a half years. And that’s really hard. That’s not a easy paradigm to be able to gain global context. But now I think, you know, rebuilding that, I think there’s an edge in that local context. And, and I took a lot of the previous learnings I had and stored them up in my mind, even there are, there are many other challenges. I have a constant daily challenge, uh, big, big ones, small ones, medium term, long term. I think the, the one I always focus on is capital allocation. Like where am I focused? Where’s the organization focused where it’s big investments and where are they going towards? That’s one that I’m constantly debating constantly thinking about.

All right. Let’s change years a little bit. I wanna talk to you about cryptocurrency, cuz I know you are a crypto enthusiast. Yeah. To say the least sure. When did you first get knowledge of cryptocurrency or, um, become aware of it enough that you said I’m, I’m gonna buy some crypto

2017? I, I like that was when I really got into it before that I was, I sort of looked at it and I was like, oh, I’m not really sure what this is like in 16. I was like, oh, it really makes, it makes sense. To me be confused by 17. I started writing about it, started really learning about it. Then I just went, bought someone and just went straight down the rabbit hole. like, sure. And I think the just personally speaking it’s because it’s a confluence of things I love, which is technology, um, marketing and finance three things that I love mixed together in one single thing. I’m like, I can’t understand how, and then with this new NFT gaming stuff, it’s like gaming plus money plus marketing plus technology. So like four of ’em are things I love, you know, where it’s going right now. I feel like we’re in 1996 of the internet, you know, really early,

Still. So for listeners who are not yet into crypto, or maybe they’ve been hearing a lot about Bitcoin going through the roof, you know, a few weeks ago, but they’re pretty unfamiliar with it. What would you say are the biggest misconceptions about crypto?

Well, first one is, you know, there’s volatility thing. And the second one I always talk about is, you know, it’s a Ponzi scheme or some scam. Um, and the other one is that it’s, it’s, it’s trying to replace currency. I think touching on that first point, if I was to come to you, anyone who’s listening now as well and quote you, I would knock on your door every morning and I quoted you the price I’ll be willing to pay for your house. I’d say, I will. You know, I’ll give you this today. If you a thousand dollars today or you know, I’ll give you a million dollars today, next morning I come in, I go, you $1,000,010. Next day I come in, I’ll give you $998,000. You’d think I was like borderline schizophrenic. We’re pre pretty reasonable, but we just don’t get quoted our house price that often.

But that is actually what’s happening. It’s constantly moving around. There is different valuation changes happening. So the stock marketing trades from like nine o’clock to four 30. Now that that means there’s less time for it to move around. Just doesn’t trade on the weekend. Whereas cryptocurrency trade 24 7, literally it trades on news Eve. It trades all the time and it trades in every single country all the time. And so any single piece of news or movement moves the price. And so, yes, it’s more volatile, but that’s just a representation of literally just being more on, more turned on, more data coming in than anything else. No one’s ever seen anything like that before. That’s never been done. Like not even for an ex foreign exchange shuts down for a small window, um, where it doesn’t trade, you know, that’s the first thing. So, so just getting used to that, you know, I think the best way to deal with that is say, you know, if you’re, if you’re getting into Bitcoin, just buy some and hold and just switch, you know, forget about it or buy little bits and, and buy them over time and just forget about them.

You know, I think the second one is this idea of it’s a Ponzi scheme. Like there’s, it’s, it’s it’s, you know, everyone says, oh, it’s, it’s this thing built upon this thing. but actually it takes some time to realize most things are kind of Ponzi. Like the reason why we believe our money or currency in our wallet is worth something is actually a bit of a Ponzi scheme. And another, another, you know, a piece of real estate is a Ponzi scheme. Cause someone else has already fought it before and now you are willing to pay more for it. Like why would you do that or less for it, depending on what it is. That’s the similar mechanic it’s actually going on in cryptocurrency. But it takes some time to realize is there’s no one at the top, there’s no CEO of Bitcoin to call there’s no call center. There’s no one in the office. There is no office, there’s no actual company. It’s just a lines of code. That’s it think about that? It’s actually a miracle that it exists. It’s, it’s actually a human miracle. And, and as you deep dig deeper, you realize that there are some, you know, age old things in humanity where this has been replicated before you people think about the CHS thing in Netherlands, where chubs were suddenly worth, you know, $50 a Chup, and then it crashed back down.

You know, the difference here is that Bitcoin’s gone up and it has crashed down, but it didn’t go to zero. It, and it didn’t go, you know, it went up to $20,000 last run. It came back down to 3,800. It didn’t go to like a thousand dollars and it didn’t go to a hundred dollars and it started at like a fraction of a cent. And again, you know, we’re at 62,000 us dollars now, which is way past that previous one. So we’ve gone past that crash. So, you know, that was thought to be Aon scheme before. Well, we’ve gone past there and there’s just complete recognition now that like you [email protected] boom. Again, Amazon took, went up massively, then took a massive tank, but it came back up and it’s obviously way past that evaluation. Now I think that these cryptocurrencies are the next revolution.

It’s like the way the, I think about this is if the internet was created again, like internet was like pictures and words. And it was like, you know, it, it sort of disrupted industries like in, in the media space, um, particularly businesses like classified businesses and a video, then it got into video and things like that. So sound, um, visual, uh, move, motion, graphics and, and words. So they, they were really upended in that sense. But if the internet was started again, now you would just start with cryptocurrency built in like, why would you go? And so we like connect up credit cards for the internet. It’s like clunky. It’s like with the crossover, whereas why don’t you just pay for it instantly on the internet with internet money and, and that’s where we’re going. Uh, and that’s the way I think of it. Yeah. Um, I think the third one, there’s only 21 million Bitcoin and it’s kind of like the digital gold of crypto know backs up everything. If Bitcoin goes up, everything goes up, goes down, everything goes down. There are obviously differences in movements, but just like, you know, currents used to be backed by gold. Um, Bitcoin’s kind of that same thing. So if you’re buying Bitcoin, you’re buying gold, essentially

Today’s episode is supported by real estate express real estate express can help you take control of your future, your career and your life, determine your own hours and enjoy a unlimited earning potential as a real estate agent begin pre-licensing courses today when you join the nation’s top real estate school, and you can get 40% off by going to real estate express.com/money girl, more than 400,000 professionals got their start with real estate express. Once you’ve completed your pre-licensing courses, you’ll take an exam administered by your state in an effort to obtain a real estate license, be advised that some states do require a certain number of on the job training hours. In addition to pre-licensing coursework, friends, this is your moment. Change your career, change your life and do it all with real estate express. Again, get 40% off by going to real estate express.com/money. Girl.

This episode is supported by policy genius. If someone relies on your financial support, whether it’s a child aging parent, or even a business partner, you need life insurance. Having coverage through your child may not be enough. Most people need as much as 10 times more to properly provide for their families. That’s where policy genius comes in head to policy genius.com and answer a few questions about yourself. In minutes, you can work out how much life insurance coverage you need and compare personalized quotes to find your price. You could say 50% or more on life insurance by comparing quotes with policy genius, their licensed experts will help you understand your options and apply for a policy. Remember the policy genius team works for you, not the insurance companies and they never add on extra fees or sell your information to third part, head to policy genius.com to get your free life insurance quotes and see how much you could save that’s policy genius.com. When you think about crypto investing, are you

Typically a short term trader or a long term hoer as they say, O DL hang on for dear life, is that you mentioned maybe buying long term. Is that your philosophy now, or have you done some short term trading as well?

You know, there are things that short term trade where, you know, think there’s a book called, um, Remini of a stock broker and talks about it’s exactly how crypto’s playing out right now. It’s a great book to feel the, the energy of that. And that’s what trading’s all about. Just emotions, but I’m mainly a value investor or I like yield, you know, I’m very conscious and aware when I’m investing and when I am trading, um, I have like stacks of things and I’m just, I’m investing. Then I just leave it. Um, or I’ll have stacks of things that I’m like, I’m trading this, this is something which I’m in here and I’m gonna be out at this price and that’s it. And then if it goes up further, well, I missed it. If it goes down well, you know, that was a good trade. And, but that was my strategy.

And I think just being very conscious and aware, uh, in the moment that, and knowing when you’re trading and when you’re investing, I think for many things, you know, it’s harder crypto cause they come and go so fast, but there are several things. I mean, for the long haul, like Bitcoin, I just see long haul buy and hold Ethereum now sort of, I think it’s changes economics a lot. It needs a lot to fix up a lot of things still as well. Um, I like Luna. Um, I think ax, infinity is a great game. It’s fascinating. I think it’s the first one. That’s kind, there are all other things I look at, but I just, yeah, there’s, there’s ecosystems and I guess coins that I back and think they solve something for the long haul and it just takes time for it to all be adopted and, and, and take shape. So when You think about your portfolio, obviously you’re invested in businesses like finder, you’re invested in assets like crypto real estate. Do you own other assets like stocks, bonds kind of more traditional, you know, are you pretty diversified there or are you, you know, kind of staying out of the, the traditional stock market?

Uh, no. I invest in stocks. I invested in stocks as a kid. Um, I’ve invested in stocks for a long, long time. Um, I have us stocks, I buy Australian stocks. Um, sometimes I buy UK stocks. Uh, yeah, I love stocks. They’re just different mechanics and different things. You’re trading and investing. I don’t buy bonds. Um, as much I, you invest in yield in crypto, which is the same kind of thing as just higher rates. Mm-hmm um, yeah, just, I’m just not really into bonds that much, um, you know, real estate. Yeah. Um, definitely. I also invest in, you know, seed rounds, uh, series a, a venture fund businesses. Yeah. All sorts of investments. I think it’s when I can get involved with businesses, that’s sort of, you know, where I can add value personally, cuz that’s where I got a lot of experience and a lot of equity and I’m sort of translating that into rolling out things. So that’s where I think I can get a lot of alpha out of that. Um, in real estate. I’m not, I don’t know if I’m, it’s just not as passionate about it. I find a liquidity annoying um, but it’s different, you know, you to think about that slightly differently. I just, yeah, haven’t got my head around all of that. Um, but yeah, businesses is where I put a lot of my F not energy

If somebody’s brand new, they’re thinking, yeah, I’m gonna dip my toe in the waters of, uh, cryptocurrency. Are there any favorite tools or things that you would recommend that they start with to kind of just slowly get into

That world? Yeah, I think, um, I join up with an exchange. Obviously we’ve put a list of those on finder and just by license Bitcoin or some Ethereum and buy a small amount and, you know, buy 50 bucks, put a hundred dollars in and buy a few dollars and then go and set an order to being like a thousand dollars below wherever the price is trading today. Um, and then, you know, hopefully you catch catch, you know, it, the price dipping and now you are in , you know, or if it goes up or you missed it, but at least your $50 has gone from value as well. Um, and that kind of like, I call it sort of setting traps and, and you get used to this thing that moves around so violently, um, and you know, you pick up little, little buys down the bottom and that really helps you get into the mindset of trading something, which is, or, or in investing in something which is depending on if your trading or investing as well, but something that moves so much, um, and start small, but never sell. I Bitcoin carriers don’t sell told

For those who are a little more advanced, maybe who have accumulated some reasonable assets in crypto, where do you recommend people will keep it? What should investors know about crypto security? You know, do you have a hot wallet or a cold wallet or you keep your money in exchange? How do you think about keeping it secure? I

Keep, uh, I love cold wallets. I think they’re great. Um, I feel much safer having a cold wallet can up to, you know, my different platforms. I, I keep it only very small amounts in exchanges, um, because I want to use them and deploy the, the coins into, um, you know, making me yield and performing for me the, the whole, you know, no, no, no keys, no coins. That whole thing I can understand in that. But I think for some people that just, they don’t have the security set up, so yeah. Trust someone else to go and manage it for you. Um, I get that and, and I totally empathize with that. Um, but you know, if you are, if you’re serious, then yeah, definitely get a cold wallet and, um, and explain to

People what that is.

Think of it like, um, like a security, uh, sort of dongle, I dunno, you know, for when you do your banking and you, you have a little, um, token, which is your special key and you carry it around with you. Um, and that’s actually, um, you know, your way to access your bank account really. So it’s like a second security device attached to your bank account,

In your opinion, what are the biggest reasons why listeners should consider crypto? We’ve talked about a lot of them, but you know, is it, is it inflation? Is it because it’s a store value? Is it the ethics of decentralized finance? Is it a combination of all those things? Is there kind of one thing that you think really should, you know, should kind of push people to consider investing?

Yeah. Imagine if you invested in Google when it was $10 a share and now it’s about three grand. Um, that’s essentially what you’re looking at. It just doesn’t seem like it, it looks scary and everyone’s like, oh, I don’t believe it, all that kind of stuff. All those people and all those people who don’t believe it and all those kind of things will eventually buy in when the price is crazy high. And it’s still cheap. That’s I dunno if I’m allowed to say that’s not financial advice, but this is, this is the way I look at it is like, you’re basically, if you buy a theory on Bitcoin, you’re basically buying Microsoft and Google when they’re really small. And no one really cares yet. Cause everyone still looks at it. Remember the internet when everyone was looking at 10 stocks going, oh, they’re gonna bust all of them.

It’s like, well, no, like Amazon’s actually a decent business. Google is a really good business and he’s a, they, it, it spins off free cash flows, nonstop. It’s um, it’s got really good fundamentals. It’s got extreme sources of power dependability. Um, and you know, Bitcoin’s got this same thing. It’s got this huge brand. Think of the brand that’s been created with no marketing depart. That’s insane. How much value is just that alone? Like people with crypto, the think Bitcoin it’s like, well, there’s 6,000 other coins. No, they just think, and that’s fair. And that brand aspect is just one thing you could actually invest in it. And Warren buffet did this all the time, right? He loves to invest behind flexibility and moats and the asset of someone remembering and having Historia about your company. You’re making decisions without thinking, just assuming that you are the one that that’s what branding is and that’s what Coca-Cola has. That’s what a lot of the companies that, you know, he has, he’s built huge, sees candy is probably a great example. It’s it’s still this company, which he, people love in their heart, but almost probably dunno why anymore. And so there’s sensibility in that there’s long term investability and I’m still buy Bitcoin. I bought some more, the other day I keep playing.

Does finder have any crypto on its balance sheet? It Does. Yeah. Yeah, we do. We hold a lot of crypto because it’s a great investment. It’s good for us. We get paid in crypto.

I was gonna ask you if you would consider paying employees in Crypto, we have opened that up in Australia so you can get paid. Um, there are a couple people who’ve taken that up and yeah, you can get paid 25% of your salary in Bitcoin. I think one of the things people, uh, feel uncomfortable about is like, okay, I’m buying this thing and the difference between a stock and how you value a stock and how you value a cryptocurrency. Like why does it have value? Because you know, with a piece of property, you can get a yield and get a rental. Think that’s an interesting area. Like why does, why does cryptocurrency have value? Yeah. Why doesn’t I value so different, different currencies have different reasons for having value. I think Bitcoins store of value. So it’s like buying gold. I think Ethereums like, it’s kind of like the, the cost that you to run your server.

It’s the gas, it’s the, it’s what it’s called gas, but it’s like when you buy a server to run a website, that’s the same kind of thing that Ethereum is. Um, and then there are other chains, you know, that, that provide pricing Oracles. So they tell you the price of something and you pay them for that, the services in the know themselves, some store data like file point, some allow you to vote and, and, and influence where a protocol’s going or where a game’s going or, and, and so you can get involved with it. And that has value some, pay a yield at the back of them. Um, those are all really important, I guess, kinda representations of, um, value, you know, know when traditionally companies, a big moment in time is when a company was figured out to be valued on its discount of cash flows into the future.

That’s when sort of modern, uh, valuation of companies came into into being. And I think that’s why a lot of traditional, um, economists struggle with cryptocurrency. They’re like, well, how do I value this? Cuz there’s no discount of cashflow. Like why does it have any value? And I think that, um, when you bring an asset like Bitcoin into something like that, well, you’ve got a big challenge because you’ve got a finite supply and you know, we’ve got lots of use cases for it, you know, transferring value, storing value. Um, and, and so the model, unfortunately just hasn’t been invented for that, that, that sort of, um, same model to apply. And I think there are some people who have applied, you know, there’s a whole series of different models, uh, in terms of trying to value it. But if you just take the number of wallets that are out there, um, and the number of, um, transactions that happen and you sort of scale it forward into the future, you know, I think the prices are gonna be, I, I, I think we’re gonna go past a quarter of a million dollars of Bitcoin.

We could even go up to 500, even a million dollars a coin. I, I can see that happening. It’s, it’s just a time thing. And there’s nothing that can stop that. Nothing. Um, it’s not gonna slow down anymore. It’s too big, too big. Now, like the internet, you can’t stop the internet rolling out, but you can’t stop like, like Facebook and people using Google it’s too far on. Now it’s too far on, there’s too much access too many people you’re in. And so you’re betting on that. You’re betting on humans continuing to execute the same behavior that they’ve done in the past and a huge mass of them as well, and more people coming into it. And that’s a trade that’s what the trade is. That’s what the investment is. That’s a very hard thing to value. Like I don’t think there’s a standard model yet.

Um, but they’ll come, there’ll be, there’ll be a mathematical formula around it. Um, there’s a stock flow ratio graph that I really love of this, how much is available to supply of, um, Bitcoin I versus how much is in demand. And I think that’s really my sort of go-to, uh, graph. And you can Google this, the soccer flow ratio of Bitcoin. Um, and I think that that, that is instructive and it’s informative and, um, gives you a way to value these things. Again, it’s not the same model of how companies valued. And so, you know, I think one of the biggest barriers of what what’s stopping people, adopting Bitcoin and, and cryptocurrencies, is it challenges the system that everyone’s used to, particularly for people who have done well, people who have like really smart have done really well in the system that they know they don’t wanna change that system.

And so when there’s a new system, they’re like, oh, this is the whole new system. How are we going to deal with that? Well, I’m just gonna ignore it and downplay it and just assume my system will be here. Um, and that’s the more we’ll carry on, but I think there’s, there’s, you know, this is a new system now that’s, it’s too big. Um, I think once you sort of suspend your disbelief that there could be another system, another financial way of doing things, the at rabbit hole starts to open up and you, you start to realize this is a movement of humanity that is not slowing down, it’s speeding up. And I think the adoption of internet will look slow versus cryptocurrency. It’s crypto’s gonna take over everything. Any final

Words, places you would like to plug or, and send the listeners. You know, if you wanna read about my story and that mindset, you can go to freds.com. And then my book is there. And my, some of my writings, um, you can follow me my LinkedIn, and obviously go to find her and you can learn all about cryptocurrency. It’s a great place to start. Hopefully I can be instructive and insightful and share what I’ve learned. I appreciate it. Thank you so much.

I really enjoyed this deep dive with Fred and hope you did too. Be sure to check out all the amazing personal finance and alternative finance [email protected] and don’t miss Fred’s book go live. You can search for it on Amazon or find the link in our show notes. That’s all for now. I’ll talk to you next week until then appears to living a richer life. Money girl is a quick and dirty tips podcast. It’s audio engineered by Steve Ricky Burke with editing by Adam Cecil. Our operations at editorial manager is Michelle Marus. Our assistant manager is Emily Miller and our marketing and publicity assistant is Devina Tomlin.