This is Tai Zen and I’m broadcasting from Dallas, Texas today.
Before I get started, if you can leave it in the chatbox and let me know whether you can hear me or not and what city or country you are from, so I know that the audio is good before I get started, guys.
Alexander says that he can hear me from Bulgaria.
Okay. In front of me, I got 5 pointers, which are 5 reasons why the world desperately needs Bitcoin and cryptocurrencies. Today, I got with me my good friend, Dr.
He does not want to be on camera, so he will stay behind the scene and we will have a discussion.
We were talking about why the price of Bitcoin has shot up overnight, from $572 over $610.
The doctor asked me whether Bitcoin will go up to $10,000 or it’s going to go away.
Let me just broadcast my response so that you can get the message too.
Join me this morning just for a casual conversation about Bitcoin and cryptocurrencies in general and why I believe that it will continue to go up.
In my opinion, $600 is probably just a low price point.
To start off guys, I have been investing in cryptocurrencies since the end of 2012, the beginning of 2013. I have not cashed out any Bitcoin that I have made because I strongly believe that they will continue to go up higher.
Here are 5 reasons that I wrote down about why I believe it’s going to go higher, which is not just Bitcoin, but most of the good cryptocurrencies.
The reason number 1 that I believe that Bitcoin will not go away and neither will cryptocurrencies is it’s in the area of clearing and settlements.
In case you are new to trading and the world of the stock market, what does that mean?.
Let’s say the Dr here owns Apple stocks and he wants to sell 100 shares. If I go to Scottrade, to E-Trade, Fidelity or Charles Schwab to buy those shares, there is a T+3, which means from the time the transaction occurred, it takes 3 days for it to settle, before I can get the actual stock certificates from you or I actually withdraw that money from the broker.
Let’s say I bought it and I made money from it. I can reuse the profits as long as I don’t take the money out of the broker’s office. However, when I make the request to withdraw the funds, there’s a 3 day waiting period minimum. That’s why it’s called T+3 on Wall Street.
Basically, I have to wait for 3 days before they can clear the transaction, which means they have confirmed that you do have 100 shares to send to me and I have the money to pay for it. When everything is confirmed, the transaction is complete. Everything’s legit, There’s no fraud in there.
Once that is clear and settle, that’s how they call the process, those shares are sent to the bank. Then, I can ask the broker to send the money to my bank. From that time, I have to wait for 1 or 3 more days for the bank to get it cleared before I can actually use that money to purchase anything I want. Therefore, that T+3 at the broker’s office and the bank just kill everything.
The next thing is going to be a little bit of technical, but it is the main reason that I am holding onto it for the long term.
There’s a company out there in New York and it’s called DTCC, which stands for Depository Trust & Clearing Corporation. They’re the only company in America that clears and settles all the stock transactions and all the transactions related on Wall Street. They’re the biggest company. They have a monopoly on that.
Because of this T+3, there’s a lot of companies, brokerages, trading firms and investment firms that can’t do anything with the money until 3 days later. You can see where the problem is, right?
Because of that, I believe Bitcoin will not ever go away. It can only get better and better and increase in value.
If you’re not on Wall Street, you don’t realize that this waiting period costs everybody billions and billions and billions of USD. However, it doesn’t mean that you have to wait for 3 days. It’s just up to 3 days.
For that reason, there are some shady companies that can clear it for you right away. What they do is they delay it for 1 day because they have very hyperactive traders in their offices. They’ll use your money to trade and make money from it.
For example, if you trade currencies or futures market, it is open 24 hours, so they can trade that for, 24, 48 or 72 hours before they transfer the money to you.
Dr: It’ a racket.
Tai Zen: Yeah, it’s a racket. Everybody knows that. Everybody knows that it’s a huge, big racket.
Dr: Does everybody on the street know this?
No. The average public does not know that. I would say that probably 98%, 99% of my viewers do not know that it takes that long to settle a transaction in the stock market.
Because of that, when I first heard about Bitcoin, I didn’t look at it like some people saying that:” It’s going to take over the Fiat world. It is going to replace the USD, EUR, and GBP.” To me, that’s just a bunch of bullshit.
When I was working at the energy brokerage firm in Dallas and I first read the white paper about the settlement and the clearing times, most Bitcoin transactions to clear in less than 10 minutes. Even if it’s an-hour clearance, it’s still faster than 3 days.
Once they scaled Bitcoin up to higher transaction speeds, I mean it’s almost instant.
Because of the clearing and the settlement speed, and how much money is saved, it is the number one reason.
When people said that Bitcoin miners are spending millions of dollars each year on electricity, that is nothing to Wall Street. It is just a small payment. They don’t even notice that.
In order to clear and settle all the stock transactions and all the financial transactions of Wall Street with less than one hour, the cost of electricity is nothing to them.
Plus, in real-time, the SCC and all the law enforcement agencies can monitor and audit it so that the Wall Street companies don’t have to pay that money to get them audited. Everything is cleared by the Bitcoin network.
Tai Zen: That saves billions of dollars for them, so why would they not do it?
You will never find anybody, who is a real trader or somebody that has experience on Wall Street, complaining about the Bitcoins, proof of work and how much electricity it costs to secure the network and to settle all the transaction. The reason is it is so tiny, compared to what they currently pay right now to settle all the stock transactions.
If you tell someone on Wall Street it will cost millions of dollars to mine and process all these Bitcoin transactions, they will laugh at it because all the financial transactions are bought and sold every day on Wall Street, are costed billions of dollars to settle it.
Dr.: How does the Bitcoin fit into that?
Tai Zen: That’s a good question.
You guys don’t hear me mention this too much because I don’t like to get too technical, but this is just a fun-filled fact session. It’s not to be anything that makes you money. It’s will be helpful if you’re looking to hold a Bitcoin or cryptocurrencies longterm. That’s all it will do.
Around the spring of this year, there was a company called Axon. They collaborated with DTCC and several banks including Bank of America, Merrill Lynch city, Credit Suisse, JP Morgan. They have acknowledged that the Bitcoin blockchain is going to revolutionize their cleaning and the settlement.
Therefore, if they had a monopoly on clearing and settlement on Wall Street, why would they let that go and use the blockchain? The answer is it’s the newest technology and it saves them so much money. I mean that that will cut their expenses probably 80, 90 percent when they apply to the blockchain technology.
Because of that, they’ve hired this company called Axony in New York to develop a private blockchain based on the Bitcoin blockchain, so they can do all the clearing, settlement and testing. It has been successful.
I’ll leave a link in the description so you can read it.
What’s important is it’s been proven that they can clear these transactions quickly and efficiently. It saves the cost of clearer, auditor, SCC or whoever coming in and reviewing it to make sure it’s accurate. It just saves billions of dollars right there.
Dr: Does it hurt the company that has a monopoly on that market?
Tai Zen: No. It doesn’t hurt the company because they can continue their monopoly by having all these better technologies to clear and settle the Wall Street transactions. By doing that, everybody will continue coming to them.
They don’t want to let go that monopoly because if they let somebody else do it and if they could do it faster than, everybody will go to them.
Dr: So you have to do it fast.
Tai Zen: Yeah. However, there are several companies out there competing to do this. They’re not the only ones. The monopoly DTCC knows that there is a huge technology and nobody talks about this in the media, because most of the people, who talk about cryptocurrencies, are not active traders like me.
I’ve probably made over several thousand stock trades already. I started trading in March of 2008. I traded through the biggest stock market crash, so I saw what happens when transactions don’t clear. I’ve traded before they changed all these laws and regulations.
Therefore, this is going to make the blockchain and cryptocurrencies widely spread and use. This is the number 1 key is that that’s going to get adoption.
When people talk about the decentralized social media like Steem, Akarsah, and Scenario, to me, that’s all a bunch of little gimmicks.
The reason that Bitcoin is going to succeed is there’s a desperate need for this in the business and financial world.
You got all these libertarians that talk about Freedom, Monero, Dash, Zcash and so on. Nobody cares about that. They are the libertarians who want to buy drugs and personal stuff to keep it private. There’s nothing wrong with that, but that is not going to get widespread public adoption of cryptocurrencies.
That’s why you don’t ever hear me talk about those things are going to take over the world or people are going to be anonymous. All of that is stupid and nonsense.
The thing that has gotten me to hold onto Bitcoins for the long term is the clearing and the settlement. That trumps everything else.
It is desperately needed in the financial markets because they don’t have a method to reliably clear and settle transactions quickly, accurately and cheaply.
Dr: It’s something that imitable. Let me ask you this question: “Where is Bitcoin itself fit?”
Tai Zen: They do it on the Bitcoin blockchain. They’re using the same technology, whether which is called Bitcoin or blockchain. Wall Street has gotten away from the term Bitcoin and everybody’s using the term blockchain, but they’re doing it on top of the Bitcoin network.
Dr: So they have to use Bitcoin to do it?
Tai Zen: They have to use Bitcoins to do it.
Dr: Could you explain that?
Tai Zen: They’re going to use a piece of Bitcoin because Bitcoin can be split up into 100,000,000 pieces. It’s like $1 bill can be split up into a hundred different smaller units called pennies.
Basically, Bitcoin can be split up into 100,000,000 units called Satoshi. All they need is 1 Satoshi to complete each stock transaction. I don’t want to get into the technical details about it, but generally, they will need to use the Bitcoin network.
Dr: The companies will use the Bitcoin to pay that, which means that they need to have a lot of Bitcoin in the market.
Tai Zen: They don’t need to get a lot of Bitcoins. Each bank can just get 1 Bitcoin, then split it up into 100,000,000 units and use that. They don’t have to get 1,000,000 Bitcoins to do it.
Dr: How will that drive the price of Bitcoin up?
Tai Zen: That will drive the price of Bitcoin up because every time you use it, people are going to trade it.
Keep in mind that Bitcoin is not the only network and the only blockchain that they will do this on. They were also doing this on the Ethereum network also. There are several competing companies out there.
This is something that no one ever talks about because most of the people that get into trading and investing into cryptocurrencies are not aware of how Wall Street operates.
As we can see, the US has the ability to send an entire army to another country and take it over if they don’t agree with them, like in the Middle East or if they don’t want to use the USD to pay for oil and stuff, they’ll just come in and just take over the whole country.
That’s kind of retarded to think that a cryptocurrency is going to replace the USD in such a strong country like the US. The entire Bitcoin and cryptocurrency community does not have enough guns and ammunition to back them up like the USD. Therefore, the idea that a cryptocurrency like Bitcoin or anything that is going to replace the USD in our lifetime is not going to happen.
Some libertarians people out there who are wishful thinking want to believe that. However, until you have a nuclear submarine, an aircraft carrier carrying warheads or Tomahawk missiles on there to back up your Bitcoin, I’m going to still believe that the USD is the strongest currency in the world.
Dr: Let me ask you this one question to see if I understand this correctly. They to the block chain. They need the Bitcoin to operate that blockchain. How will that drive the value Bitcoin up?
Tai Zen: Because now, it’s mainstream.
There are some people that want to invest in cryptocurrencies. For example, you invested in cryptocurrencies because we’re good friends and you trust me because you know I’m a trader, so you’ve got into it.
However, there are also some people that will not do it because they don’t have trust in it. They’re pension funds like teachers’ retirement accounts pensions, fireman’s pensions, police pensions and government worker’s pension that will not touch cryptocurrencies. They will not include Bitcoin in their portfolio because that’s crazy.
Nonetheless, if they see a bank of America, Merrill Lynch and all these other companies using Bitcoin, they will be more comfortable. When all these pension funds come in, they don’t invest $100, $200 or $1000 like you and I do. They will invest millions of dollars, even billions of dollars whenever they want to, which will drive the price up.
Plus, there’s a limited amount of Bitcoins. Therefore, if any union wants that in their portfolio, in their pension fund like Coindesk yesterday, which is one of the biggest pension funds in California and has considered including cryptocurrencies into their pension fund, it will start accumulating Bitcoins for their clients in hedge funds, which is going to jack up the price.
Dr: In other words, when they see the actual users like Wall Street is used Bitcoin, they say: “I’d better buy it now because they’re using”. That is when the price goes up.
Tai Zen: That’s going to cause the value of Bitcoin to go up.
I also want to mention this. I will link these in the description box.
Axon is not the only company that is developing this clearing and settlement technology on top of the blockchain. There are a few others like R3CEV, Digital Asset Holdings and another company by Patrick Byrne, the owner of overstock.com called zero.
Those are all competing companies that try to be the first company to successfully settle and clear stock transactions and financial transactions either on top of the Bitcoins public network or make a copy of it and do it privately internally among the banks themselves.
My prediction is if they try to do it privately, they’re going to get hacked immediately. There are hackers out there right now waiting for these banks to release their private blockchain. As soon as it gets released, it will get hacked immediately. I guarantee you that. The reason is it has not survived long enough out in the wild.
Therefore, as much as they want to make a private blockchain, they don’t have a choice. They have to use the Bitcoin network because it has been out in the wild. It’s been used. It’s been hacked every day for the last 9 years and it still hasn’t been broken.
It would be very dangerous to their company if they don’t use the public blockchain. If they try to duplicate that and make it private, there will be hackers coming there and just hacking it to death. They will lose so much money that they will regret doing that.
The reason why they want to make it private is not because of security reasons. It’s because they want to control the blockchain.
For example, if DTCC builds a network to settle transactions fast, they want the monopoly. If they do it on the Bitcoin blockchain, they’re subjected to the whim of the cryptocurrency community.
To sum up, for security, they need to do it on the public Bitcoin blockchain, but they need to do it privately if they want to control it. However, if they do it privately, they’re going to lose the security that they’re looking for
Dr: Are any of these companies part of a cryptocurrency or not?
Tai Zen: No. These are private companies. You cannot get into their crowd sale. They don’t have ICO. I don’t know why. If Axony had an ICO, I would invest in that immediately because I know how important it is to Wall Street to clear and settle all these transactions. For sure, I would tell everybody to invest in it too.
That’s the first reason is clearing and settlement.
The second reason that Bitcoin and cryptocurrencies will succeed is the market desperately needs a reliable record-keeping system. When I say the market, I mean the world desperately needs a reliable record system.
Dr: The economy.
Tai Zen: Yeah. The economy needs a reliable record-keeping system that cannot be altered and cannot be changed on a whim.
Dr: That’s exactly why Factom has become popular because their record system is really good.
Tai Zen: Yeah. they are the only cryptocurrency platform or blockchain right now that actually has clients that are paying them to record data into the Bitcoin Blockchain
Dr: Who are these clients?
Tai Zen: Chinese land clients, property clients. They’re working on different clients.
Let me give you some examples. When my kids were born, I went down to the Dallas county courthouse to get a copy of my kid’s birth certificate because the hospital that they were born could not issue the birth certificate.
They charged me $25 per birth certificate. I have two kids, so they charged me $59 and they literally just printed out and put a stamp on it to make it an official document from the county courthouse.
Let me ask you this. Who is more qualified to say that my kids were born on this day and this time? The courthouse or the hospital where they actually delivered the kids?
Dr: The hospital.
Tai Zen: Everybody agrees that the hospital is more qualified to determine the time and date in birth, weight, male or female, all the necessary information regarding my kid’s birth, but they are not authorized to issue.
Therefore, if the hospital decides to use Factom, they can actually record my kid’s birth into the Bitcoin blockchain or any blockchain. Once it is recorded, that could never be changed, which makes it become official.
For example, they would just get 1 Bitcoin for each hospital. Then, every time a child is born, they can record all the data into a fraction of that Bitcoin on 1 Satoshi. They can compress that data and then put it into the Blockchain.
I don’t want to get into the hash functions and stuff because it will confuse everyone.
Dr: That’s sound too good.
Tai Zen: They can do that and check this out for the rest of my life and my kids’ life. If anytime that they want to verify that they were born on this date and time at this hospital in this city and this county, all they have to do is point the school or the military or the job, the company they work for, whatever it is to that point in time in the Bitcoin blockchain.
It’s authentic because that fraction of a Bitcoin was sent from Baylor Hospital. They can authenticate on their website that we are the only ones that are authorized to record this into the blockchain By doing that, we know that is a legitimate record and the hospital can do it on it’s their own without the involvement of Dallas county courthouse.
There is also another way to this like what’s been doing now. They can send my kid’s birth data to the caring courthouse in the county. The county clerk can take that data and use the Factom technology to record into it. It’s like a penny or something like that. It’s just so cheap. Why wouldn’t they do it?
Another example is when I take my kids to them to get their vaccines, there are certain vaccines I just disagree with. I’m not going to let them shoot these viruses into my kids when we were just born. That’s just my personal belief. That doesn’t mean everybody has to do that, but because of that, when they go to school, they have to verify some certain vaccines. This is where I can point them back into the blockchain.
For your information, factomize means they took the data that they want to keep and make sure that it is never changed and put it into the blockchain. That process is called factomize.
Therefore, when you factomize the data into the blockchain, it gets in there and it can never be changed. To me, that is so valuable.
During the real estate crash of 2008, there are a lot of issues relating to buying homes. People didn’t have enough money to buy these big properties. They can only afford $200,000 house and the banks were loaning them money to buy $500,000 home.
When the real estate market crashed, people were facing foreclosure. They lost their homes and everything. At that time, Bank of America and Merrill Lynchall didn’t have records of who own the homes because the loan was sold off from people to people.
If they factomize that real estate data, they can go back to it because it’s still there in the Bitcoin blockchain.
Briefly, record keeping is the number two reason that I believe that Bitcoin and crypto currencies will not go away because it is so critical. When I say critical, I mean the market desperately needs this technology, which is the best solution right now for this problem.
Dr: So they will buy cryptocurrencies in order to get into the blockchain. As you said, people that are doing big investments want the coins to go into their portfolio because there’s only a certain amount of Bitcoins in the system right now.
Tai Zen: The Bitcoin network is like an interstate highway.
For example, we live in Dallas right now and they’re constructing the highway 121 in North Dallas. 10 years ago, there was hardly any businesses along the highway. As soon as the city of Dallas built that highway to expand the city further north, there are new businesses, malls, shopping centers started building next to the highway, so what happened to all the residential property in that area?
Dr: they blew up.
Tai Zen: For example, my house has an increase in value by $80,000 to $100,000 because I happen to live down the street where Toyota is going to build a North American headquarters for 2 or 3 acres down from me.
The reason is every time somebody built something on top or near that highway, it adds value to the community. Then, everybody’s property and everything goes up.
It’s the same thing on the Bitcoin blockchain when Factom inserts data in there These data can be land records, birth records, vaccine records, school records, graduation diplomas, social security information or anything that they factomize into the Bitcoin blockchain.
What they’re essentially doing is they’re putting value along with the Bitcoin highway network. That’s going to increase the overall value of the network, just like the real highways work in the city of Dallas or in any city.
That’s the second reason.
Let me just pause right there. Do you guys have any questions over the first 2 reasons which are clearing and settlement and the record keeping?
So no questions on the record keeping or the settlement.
Here’s the third reason why the world desperately needs Bitcoin and cryptocurrencies. The third reason is remittance. Now, remittance is a fancy Wall Street term that means when immigrants and refugees that come into the US, they send money back to their families.
I’ll use Mexicans as an example because that’s probably one of the biggest remitters in America.
When the Mexican people come over to the US from the country of Mexico because they border the southern part of the United States, they do a lot of manual labor, which makes them money.
$100 is not very much in the US. You can have 10 meals with that amount of money, but with the same $100, when they sent it back to Mexico, it can provide enough foods for their families for a whole month.
Because of that, we have a lot of Mexican people that come into the US to work and send money back. However, the cost to send that money back to their family and friends in Mexico is 10% to 15%. There are only 2 services doing that right now, which are Western Union and Moneygram.
The sum of money which those Mexican send back to their country with a 10% to 15% fee is called remittance and for sure, it creates a remittance market.
If all those people, even 1%, 2% or 5% of those people started using Bitcoins or cryptocurrencies to send money back to their country, there would be a huge game changer.
Those people are in desperate need for a real-world solution. The only solution that they have right now is Bitcoins and cryptocurrency. There’s no other solution that is cheaper and more reliable.
Now, if you send something by Western Union, you have to wait for a while before it gets confirmed on the other end so that your family can receive it.
It will become a hit big when vendors in grocery stores, telephone companies, the cable comes to start accepting Bitcoin and cryptocurrencies as payment because there was no need to convert Bitcoin into the Mexican peso or into the native currency of that country. At that point, I believe companies like Western Union and Moneygram will go out of business
Right now, the people are still using it, not because they don’t know about Bitcoins. They’re still using their services simply because when it goes over there, it’s easier to convert that into the Mexican peso. Whereas, Bitcoin is hard to convert to the Mexican peso.
Dr: Not yet
Tai Zen: Not yet, but…
Dr: They have some Bitcoin exchanges there.
Tai Zen: Yes, they have some Bitcoin exchanges there, but right now in Europe, people use different currencies all the time, so they can change USD to EUR, EUR to GBP, GBP to JPY. That’s very common.
However, when you live in the US, the majority of the American people have never used another currency outside of the USD. It’s very foreign to them to use any other currency.
For example, if you show an American the EUR, JPY, or GBP, they don’t even know what it is.
I’ll use myself as an example. I’ve traded millions of USD worth of the EUR in my currency account for 5 or 6 years before I saw the first EUR note. When I saw it, I didn’t even know that it was a EUR currency. I thought it was just monopoly money, so if you had left it on the table, I would not have even taken it or done anything with it because I didn’t know that there was a real currency.
Because the USD is so strong, we don’t know about any other currencies. We may hear about it on the news, but to actually use it and understand what it is, it’s like a foreign language to Americans.
Dr: Where are these foreign currencies most likely to happen?
Tai Zen: It’s not going to happen in America.
Dr: In the remittance market? Is that where they start in America?
Tai Zen: It will start in America through the remittance market.
When the Mexican people realize that they can pay for stuff with Bitcoins, they’ll start using it because you don’t have to convert the Bitcoins, to the country’s native currency.
If you don’t have to convert Bitcoins to a Mexican peso or a USD in order to use it, people will just accept the Bitcoin at the grocery stores or use that to pay for bills and stuff. That’s when the remittance market would explode.
However, it’s just going to happen outside the US because American people don’t know anything outside of the USD, not because they’re dumb or they’re stupid. It’s just because they never had to. When you don’t have to do something, you don’t know about it.
Dr: There are places that will accept Bitcoins.
Tai Zen: Yeah. I’m about to order my new laptop to Dell and they accept Bitcoin, so I’m going to pay for it with Bitcoin.
I’m about to order the world’s most powerful laptop to do all my trading and video editing and stuff for my businesses. I’m gonna order through Dell Precision mobile workstation. They’re extremely expensive laptops and I planned to pay that by Bitcoins.
Dr: I mean is there a certain company that accepts Bitcoin?
Tai Zen: Whatever I and my friends buy silver, we usually use Bitcoin.
We have one of our audience, I guess it’s a girl because as a profile of the girl’s picture on it, saying that it already happened in the Philippines.
The Philippines is also another big remittance market as well as Southeast Asian countries like Vietnam, Cambodia, Laos, Thailand. In America, we have the Caribbean islands, South America and Mexico. Those are really hot remittance markets.
If what our view saying here is true where you can actually use Bitcoin to pay for your food and your bills directly, that’s going to be a huge game changer.
Dr: If people in these countries accept Bitcoin, how do they have the infrastructure to…?
Tai Zen: No, the infrastructure is there. The problem is just the vendors don’t accept Bitcoins. Because of that, people don’t know why they need Bitcoin for.
However, as soon as the vendors start accepting Bitcoin… For example, when I go out, I paid for probably about 90% of my Starbucks coffee with Bitcoins. I just use the coffee app to make the payment.
There are many people making fun of me about using Bitcoins like:” Who accepts Bitcoin?” and they don’t realize the coffee I just bought them was paid by Bitcoin. I’ll do that on purpose because they always crack me up when people say that.
Crypto Giraffe asks a good question. He says: “Do you regularly use Bitcoins to buy things or only once in a while and is it cheaper to pay in Bitcoins?”
I use it whenever I need to. The reason why I’m buying my new Dell laptop with Bitcoins is I don’t see the need to convert the Bitcoins into USD.
Every time you convert one currency into another currency, you always lose a little bit of it during the conversion process. Therefore, if Dell is willing to accept Bitcoins for their laptop, there’s no need for me to lose that conversion rate in order to switch it to USD and go buy the laptop with it.
In the example of buying Starbucks coffee, I do that because if somebody’s going to give me 5% or 15% discount even though it doesn’t seem much, then why not. I’m going to buy it anyway.
It’s also a good way for me to introduce people to Bitcoin too because the first question that people around me always ask is who accepts Bitcoin. When I show him that Starbucks or Whole Foods accepts Bitcoin through different Bitcoin debit cards, it introduces him and it makes it easier for him to accept Bitcoin.
Gross Bill asks me to talk about BlockPay. We’ll talk about that in a separate video.
In this video, I just want to talk about 5 reasons why the world desperately needs Bitcoin and cryptocurrencies.
The fourth reason is access to the trading world. This is a desperate problem that needs to be solved right now. The only people that are allowed to trade in the world of people that live in first world countries.
It’s unfortunate, but the only people that are allowed to trade in the financial markets on Wall Street to buy and sell stocks live in first world countries. People that are in third world countries are not allowed to trade in the American stock market.
That’s the biggest and most lucrative stock market, but it is the most regulated too. Out of all the stock markets in the world, in my opinion, it’s the safest one.
People may talk about Russian, the Vietnamese or the Chinese stock market. They may be good, but they are not as safe as the American stock market.
No matter what anybody says, based on all my training experience and everything, the American stock market is still the safest and the best stock market to put your money.
Now, the problem with that is if you don’t live in the US or a first world country, you are not allowed to buy and sell stocks in the American stock market.
Somebody, who live in my country, Vietnam, cannot just open up an account with $100,000 or even $10,000 and start buying the selling American stocks, because the Vietnamese communist government controls the money over there and they won’t allow you to send money to an American brokerage to buy and sell stocks. You got to get permission from the Vietnamese government.
Cuba, Iran, Iraq, Russia, China, North Korea, and all these countries are all the same. None of them will let their citizens buy, sell and invest in the American companies because of that.
Now the only market that is easily done, I wouldn’t say it is easy, but that is accessible to everybody in the world, is the currency market.
When Bitcoin and cryptocurrencies come along, it’s the first time that everyone can trade cryptocurrencies regardless of their age, sex, gender, ethnicity or religious beliefs.
Dr: the little guys
Tai Zen: the little guys that are on the main street.
Dr: and these little guys can make money.
Tai Zen: Yeah. These are the guys that need the Money.
If people living in Africa, China or Russia or a poor country have $100 or even $10, they should have the ability to invest and trade in the financial world just like everybody else. However, due to the laws of their country and the laws on Wall Street, they’re not allowed to do that. For that reason, cryptocurrencies have leveled the playing field for everyone.
Dr: We’ll talk about the redistribution of wealth. That’s the way to do it without the government’s involvement.
Tai Zen: I’ve read on forums where people from third world countries have made about $100, $,1000, $10,000 from trading in cryptocurrencies. Therefore, cryptocurrencies give access to the trading world in the country that does not have access to the trading world.
Dr: If the government from the third world countries sucks all of their people’s money, that country cannot develop. However, with this access to the trading world that Bitcoin is bringing, people in those countries can make more money, which somehow helps the country to grow.
Tai Zen: That’s the fourth reason. That also segues us into the fifth reason why I believe that cryptocurrencies are desperately needed in the world.
In addition to the trading and investment, the fifth reason is allowing you to become a main street venture capitalists, or what LeonFu.Com and I call the main street VC.
For the first time in human history, the small time people like us can do the exact same thing that the people on Wall Street does, except we don’t have to be licensed. We don’t have to be a professional. We just have to be educated.
Dr: We don’t have to pay them.
Tai Zen: Exactly. We don’t have to use them, pay them or go through them on Wall Street. That’s why the cryptocurrency investment programs that LeonFu.com and I created was called the main street VC.
It’s the first time we’d had that opportunity because, in most countries, you don’t have the money to do it. In the US, even if you do have the money, you may not have enough.
For example, LeonFu.com and I know several friends that invest into the stock market, the currency market, the futures market, the cryptocurrency market, but there’s only one of us that is an accredited investor.
For example, Factom. Inc is a company that builds the open source software called Factom and they’re raising money to grow their company. The only people that can invest in it are accredited, investors.
In the US, an accredited investor is someone that has $1,000,000 net worth and they have to make over $200,000 a year for 2 consecutive years. If you don’t meet those criteria, you cannot invest in Factom when they’re trying to raise money to grow their company. The reason is Wall Street does not recognize you as an accredited investor.
Now, in cryptocurrencies, it is the first time in human history that you get to invest like a Wall Street venture capitalists except you’re on the main street
Dr: It’s just the best.
Tai Zen: it’s just the best because you don’t have to be licensed…
Right now, Chinese people are raising money for Antares. The Europeans are raising money for the DECENT platform. There are also people raising money for the the the Stratus platform, Waves platform, Lisk platform.
You’ve got all these different people from around the world investing in these different companies and these different projects. The good thing is you don’t have to be accredited. You don’t have to be certified by Wall Street. If you had the Bitcoins, you send them a fresh run with it and you own that portion of it
Alright, guys. Those are the 5 main reasons that I believe the world desperately needs Bitcoin and cryptocurrencies.
We’ll take a few questions and we’ll wrap it up.
This is a good question from Jurgis. He asks: “Do you think Western union and others might adapt or drift off like Blockbuster?”
It just depends upon how arrogant they are. There are some companies like Blockbuster who think that they will never get taken over. They’re at the top of the mountain. They think that no one’s ever going to come to get them. Look what happened on Blockbuster. Now nobody even knows what it is anymore.
Therefore, if Moneygram and Western union see that their business is being threatened by Bitcoin and other cryptocurrencies, they need to do something about it. If they adapt, then they’ll survive.
I know that that Paypal, one of the money remitters, have adapted because they’ve partnered up with Coinbase to start buying and selling a Bitcoin by using Paypal.
However, I have not seen any indication from Western Union or Moneygram to indicate that they are adapting to the new cryptocurrency movement
Ronda Holly says: “Western Union is the middleman. They are not needed if Bitcoin is adopted.”
I agree. The key is here is not whether or not Western unions will get involved. The key is if people are willing to accept Bitcoin, there’s no need for Western Union and Moneygram anymore.
Crypto Giraffe asks: “how is trading crypto different than trading Forex? Is there a different rule for margin accounts?”
Yes. Trading cryptocurrencies versus trading Forex are like night and day.
First of all, when you trade the forex market, there’s a lot of manipulation going on with the banks. They can purposely move the price up to and down to shake people out.
I’m not saying that Poloniex, Bitfinex or other exchanges cannot do that. Obviously, they can do that. However, there’s really no need to. I mean they can and there’s no way for the public to audit and see that they’re not manipulating the price of it internally. There’s no way to do that.
However, in the forex market, it’s very controlled by the banks. They do it at their own will and they do it almost every day, especially around news announcements.
The big thing about the cryptocurrency trading is that if you understand the fundamentals and how the news impacts that cryptocurrency, it actually benefits you.
If you hear some bullish news, the news actually affects the price in a bullish way. Whereas in the forex market, you can get some good news and the price go of the currency goes down. Then, you can get some bad news and the crows to go up. There’s no correlation between those two.
Whereas, in the cryptocurrency world, there is a direct correlation. If we hear that the DAO attacker is doing to dump the Ether classic coins, the price is going to sell-off. If we believe that he’s going to take the profit that he made and put it into Ethereum hard fork, the price is going to go up.
If you follow the cryptocurrency community well and you understand the news, it actually helps you in your trading cryptocurrencies. Whereas, in the forex market, it does not help you at all because there’s no direct correlation to it. That’s like the main thing I noticed.
Gross Bill asks: “We are still in the early days of crypto. What do you think it is going to happen in the next years?”
Nobody has a crystal ball, but I do know this. I’m very bullish on the overall cryptocurrency market. There might be some short term pullbacks and dips like what it was going through yesterday and today, but overall, in the long term, I believe it’s bullish. That’s why I try to avoid shorting any cryptocurrency because that’s very dangerous.
Buck Woods believes that by 2020, Bitcoin and cryptocurrencies will go mainstream. It’s awesome.
Let me see. “I’m your top number one fan Tai Zen”. Well thanks, Gross Bill
Slopestyle2020 asks:” Will Ethereum price ever pass Bitcoin?”
I can see it happening, but not anytime soon because they got the problem with Ethereum hard fork and Ethereum classic.
At the moment, there’s a lot of projects that are being built on top of the Ethereum network. However, there’s not a real-world use yet of Ethereum.
I can not go buy a new laptop with Ethereum like what I did with Bitcoin right now. Here is my guarantee to determine if a cryptocurrency has a longterm or not. If any cryptocurrency wants to have the same price as Bitcoin, first it has to be able for people to buy guns with that cryptocurrency. That makes it legitimate to me.
However, you cannot do that with any cryptocurrency except for Bitcoin at the moment. All the places where I buy gold and silver in Dallas only accept Bitcoins and nothing else.
Therefore, if you can buy real gold and silver, food, guns, ammunition, and drugs with your cryptocurrency or anything else, that’s when you have a chance of being like Bitcoin. To me, those are the four benchmarks or indicators that the cryptocurrency has a chance to be like a Bitcoin.
Now, is Ethereum on track to do those things? The answers, in my opinion, is yes. It’s on track to do that. Between Ethereum and Monero which are at the same price, around the 10, $12, you have to ask yourself which one of those currencies you can use to buy drugs food, gold, and silver, guns, and ammunition with. That should be the answer to which one you invest in.
If I have a pick off the top of my head the top 3 currencies that have a chance at becoming the next Bitcoin, it would definitely have to be both Ethereum, Ethereum hard fork, and Ethereum classic. I just count that as one because of the Ethereum.
The second one would have to be Monero.
I cannot think of a third one at this moment. If I do, I’ll let you guys know that. At the top of my head right now, I cannot think of a third one that is close to doing those 4 huge milestones.
Slopestyle is the stealth trader from Steemit. That’s awesome.
“How can I start learning more about technical analysis? How did you learn that?”
I paid a lot of money to go to school to learn it.
Microsoft Robert Cunningham says:” You are the best crypto youtube of all time. Congratulations.”
Thank you. It’s not just me. It’s both myself and my buddy LeonFu.com.
I think that if it’s just one of us, we may not be as good, but the combination of both will make a better team because he’s more on the fundamental and the technology side and I’m more on the trading and technical side.
Slopestyle goes: “Couldn’t you make your main Coinbase wallet and your Ethereum wallet and use them Ethereum to pay for stuff?”
The answer is yes. I switched away from using them as my wallet because I don’t like somebody else having control of my wallet.
I do not like using the Bitcoin core wallet. I and my friends are all getting away from that. It just takes too long to just download it. That’s why we use the Copay wallet.
Some of my friends that have iPhones use the Breadwallet, which is one of the easiest wants to use. That’s probably one of the best mobile wallets for the iPhone platform.
Plus, Coinbase will censor your transactions. If they don’t like what you’re doing with your Bitcoin, they will freeze your money. I don’t like that. If I use Breadwallet or Copay, there’s no chance of them freezing my money.
“What sources do you use to watch the news from the crypto world?”
I’m going to make a separate video about that because, in the beginning, there is a lot of questions about that.
“Do you think cryptocurrencies are going to give more wealth to developing countries?”
Absolutely. We have people in third world countries using, for example, Steemit platform. It is the first time they made $100 or $1,000 in their lifetime.
You may not think that’s a big deal in America or a first world country. However, just imagine a country where you only make $5, or $10 a month. Then, all of a sudden, you wrote an article…
I don’t care if people think that Steemit is bogus, scam, Ponzi Scheme or whatever it is. In fact, if there are more than one person has done it and it’s verifiable, they’re not going to quit after that happens.
“Ethereum can be used with visa shift?” I’m not sure I haven’t used that yet Slopestyle
Slopestyle says that he can use the shift card at Walmart all the time.
When LeonFu.com and I go to Walmart or to Whole Foods, which is an organic grocery store here in America, we have to convert our Bitcoins by using either the shift card or using the gift card before we can buy stuff.
I like to see it a day when Bitcoin will get more adoption. The day that it can be used directly without conversion.
To go from Bitcoin to a shift card or gift card, there’s still a conversion process. In America, people don’t see why you should need to do that. That’s why it hasn’t got the adoption.
For example, when I buy my new laptops from Dell computers, I just paid for them directly with my Bitcoins. There’s no conversion. That’s why there’s no friction there for me to use Bitcoins.
“If globalists truly want to control you or the UN will have control over the Internet, why should I invest in Crypto?”
I don’t know when people talk about the UN or whatever having control over us. They pretty much already, so I don’t see why it would be any different.
I invest in cryptocurrencies guys because it’s a way to make money.
If you rewind this video, you’ll see the 5 reasons why I believe that cryptocurrencies are not going to go away because it’s desperately needed. Even if it’s not desperately needed, it’s a method to make money. I’m not allergic to money. If there’s an opportunity for me to make money legally and ethically, I’ll do it.
It doesn’t have to be a reason. The only reason is to make money.
The key to success when you’re trading or investing in cryptocurrencies is being adaptable. Even if the UN or whatever government agency decides to control us, there’s always going to be people that still do what they want.
“Keep an eye on Zcash, Tai. It’s coming very soon.”
Yes, I am keeping an eye on Zcash. That’s one of the things in my crosshairs.
“Do you own a Trezor?” Not yet. LeonFu.com has several trezor. I have a separate laptop specifically just for Bitcoin. I don’t use it for anything else.
“Could you recommend a trading course, Alexandra?”
Yes, I can recommend it. The course that LeonFu.com and I are going to come out with is called the main street VC method. We’re going to cover that in more detail.
Now, we are still planning it out to whether we do it live at like a hotel conference room or we do it on a Webinar and you know how we deliver it. However, most of the content for the main street VC method that we developed has already been created. We’ve been spending a lot of times since the beginning of this year creating that main street VC method.
I’m actually sharing with you what’s called and what it’s about. It’s an 8-module training program. We’re looking at the different price points for it and whether to do it as an in-person workshop or to do it as a webinar or what’s the best way to do it.
Keep in mind that LeonFu.com and I have jobs and businesses that we have to run. Because of that, we don’t always have free time to do everything that we want to in cryptocurrency.
In a perfect world, we would get to a point where we made enough money from the cryptocurrency investing that we can actually just focus on cryptocurrency investment and build up our channel and educate the public on cryptocurrencies.
I will share with you some more information on the main street VC method. It’s basically a blueprint on how to invest in cryptocurrencies and become profitable.
It’s safe to say that we probably lost over about $500,000 to figure out how to invest in cryptocurrencies correctly. Therefore, we want to share that with people who are serious about it, so they can make some money from it too. That’s good news.
“I get paid in Bitcoins. Is that a good idea, Isaiah Mahmoud?”
Well, that’s up to you. I’ll give you an example here, Isaiah.
Once we release the main street VC method, a blueprint on how to invest in cryptocurrencies, we are going to accept Bitcoins only. Once we determine the price points on it, it’s going to be paid in cryptocurrencies. For sure, we’re going to accept Bitcoins and then Ether classic or Ether hard fork.
LeonFu.com and I plan on only accepting cryptocurrencies because we’re a cryptocurrency channel. We believe in cryptocurrencies, so Bitcoin or Ether Hark Fork or Ether classic means no difference to us.
Slopestyle asks: “I got the Bitpay card but couldn’t add funds.” Not familiar with that.
“Would you wait for a little for the FUD to come down and invest in Monero?”. I don’t invest because of FUD.
For anyone that’s new to cryptocurrency investing, FUD means fear, uncertainty, and doubt.
I invest in it because of the real-world problem that Monero is trying to solve and whether they’re able to do it or not with their technology. That’s the reasons why I invest in the cryptocurrencies, not because of somebody saying that it’s a good idea or not.
I looked at Monero this morning and it was actually at a good point. I haven’t looked at it since then, so I don’t know where it’s at now. From a technical trader perspective, it was at a good point this morning.
“Can you make a video about tips and tricks on trading in the crypto market?”
Yeah. This is the 50th video, so go back to video number one and just go through it.
I tried to make my videos guys, so it’s evergreen, meaning that it’s not just for one period only. You can watch it 1, 2 or 5 years from now and the content is still relevant.
I try to avoid making videos where it’s irrelevant or it’s only good for that week. Sometimes, I have to do that.
For example, I made the videos on the DAO attacker and stuff because it was relevant at that time. It is critical that everybody understood what was going on, so I did make those. Now, the DAO issue is no longer an issue, so those videos are longer be relevant.
I don’t like wasting time making videos that are just a one time hit. I prefer to make videos whose content is evergreen.
Rick asks: “Do you think that Dash is just likely to go mainstream as Monero?”
Nobody knows. I mean that’s something that the market will have to dictate.
“What do you think about the Economy?” I don’t know. There’s a bunch of people tagging me on twitter about our Economy, but I just haven’t had time to look into it. Therefore, I cannot say good or bad about the economy because I don’t know about it.
“Why is someone for the second day permanently selling 1,000 Monero for 2 seconds?”
I don’t know how you’re getting that data. Let’s just say it’s true. There are a lot of people in this to make money. They are short-term traders. If they make 5% or 10% on their money, they’re happy with it. They dumped it right away.
I mean there doesn’t have to be a reason for it. When I’m trading something, I looked at the long-term potential. Does this software solve a real-world problem? If it does, I tend to hold it for the long-term.
“The UN is taking over the Internet on October 1st.”
I don’t believe that for one minute. The Internet is too big right now for any person or entity or organization to shut it down. Back in 1993, when Al Gore invented the Internet, that might’ve been a time to shut it down. However, at this point and stage in the life of the Internet, I don’t see that happen.
I mean you got different internet services out there like Open Garden that will connect computers, cell phones and things like that. They have mesh nets which are a technology that will connect to computers, cell phones, and Internet devices. Therefore, I have no worries about the Internet going down. Things like that don’t make any money, so I don’t waste time talking about it.
If somebody asks me about conspiracy theories, Illuminati, the Rosicrucians, a Hillary Clinton being a part of the rough childhoods or anything like that, I don’t waste any amount of time with any of that bullshit, because it doesn’t put money in my pocket.
That’s why you rarely ever hear me talking about conspiracy theories or any of that stuff guys in whether it’s true or not true. I really don’t care because it doesn’t make any money.
HashVibe says: “Hey Tai, I’m from Dubai and Bitcoin and crypto is supported and accepted by the government. Is that a good or a bad thing?”
That’s a good thing, guys.
The more people that are reputable accept cryptocurrencies, the better it is. I don’t care if it’s a government or a bank. If the central banks came out with a cryptocurrency, I would buy into it. I will buy a ton of it because I know it will go up like crazy. If the government in the state of Texas where I live comes out with a cryptocurrency, I would buy into it.
If anybody that has a reputable name, recognized public figure, entity or organization comes out with cryptocurrency, I will buy into it in a heartbeat. No questions asked and I don’t have to agree with their beliefs or anything.
“They’re supposed to launch shadow market by in 2016. I think you will be able to do that now. I mean this past month alone was extremely profitable. Global audience, please do it online.”
When we released our cryptocurrency trading and investing program, we have several issues with it. If we do an in-person workshop, it’s a lot easier because it’s our first event whether it’s online or offline.
If we do the offline, we can feel the questions that people are asking and answered right there on the spot. We can show people on their computers how to trade, buy and sell cryptocurrencies, so we can be more confident that the people actually doing it correctly before they go home.
We were debating whether or not to do a three-day workshop like Friday, Saturday, and Sunday so that people don’t have to miss a lot of work. They can fly in, do the workshop and then go home. The advantage of doing it in-person is LeonFu.com and I can make sure that it is done correctly.
Remember that we lost a ton of money for not knowing what the hell we were doing, hitting the wrong buttons, buying when we were supposed to be selling, selling when we’re supposed to be buying it and putting it in the wrong order.
We used to a be bunch of dumb asses, but we finally figured it out now. That’s why we want to make sure that if we are going to charge people tuition for it, we want to make sure that they actually do correctly before they go home.
That’s the advantage of doing it offline, at a conference room in a workshop.
The disadvantage of doing it live in a workshop is that we can only do it for 50 people at max. We cannot do it for any higher than that.
I, LeonFu.com and a few assistants cannot cover a classroom that is bigger than 30 or 50 people. That’s the disadvantage of it. It’s to be limited seating only if we decide to do it as a workshop.
If we could do it as a webinar online, we can do for thousands of people around the world, as Neko KM suggests. The downside to that is that we can’t see what you’re doing.
Because of that, that’s still a debate. It’s going to be both. If we do it as an offline workshop at a hotel, we’re going to have everybody fly in, do the workshop. We’re going to record the entire event. Then, we’re going to take the video recordings and post it onto a membership site for people that want to watch it online.
There’s just going to be a delay from the time we actually do the live workshop to the time that we do the online membership. That’s the only a challenge with that.
Dr: Now you are still looking for a location right?
Tai Zen: We’re looking at some different hotel rooms. We’re traders, so we’re not technical people that know how to set up membership sites and websites. It’s a miracle thanks to WordPress. We got a website up at cryptocurrency.market, but if it hadn’t been for WordPress, we wouldn’t have even gotten that up.
That’s why you’ve seen it broadcast on youtube a lot because the platform is already there. We just come in and put in the content.
Now, we’re using WordPress as our site and we are looking at different hotels to book the conference rooms for the live hands-on workshops. We’re looking at it in Dallas and LA.
The first one is more than likely to be done in Dallas simply because I travel a lot. I know that it’s easier for everyone to come to Dallas than it is for people from the east coast to travel to the west coast. Dallas is more centralized in the United States for people to come to it. I know that there are people from Europe and other countries that want to attend it also.
Therefore, it will be easier if we do it in Atlanta for the people that want to come from Europe. Then, It’ll be easier for the people that come from Asia if we do it in Los Angeles.
I mean it’s going to be advantageous for some people and it’s going to be disadvantageous for others.
At the moment, we’re setting our sights on to do the live workshop. If we decide 100% that we’re going to do the live workshop, we’re going to do it in the Dallas because it’s easier for people to come to
We are looking at some October dates right now and it will depend upon how many people we have interested in it and where we can get a hotel conference room.
If you guys are interested in attending the three-day workshop on Friday, Saturday and Sunday, shoot me an email at [email protected] and I’ll reach out to you. If you don’t have an interest, please do not email me.
By doing that, we can have an idea of how many people are interested in it, so we can decide whether to do it offline or online.
To sum up, our plan is that if we do the workshop live first, we will record it and put it online to make it available for everyone in the membership area. If we do a live webinar first, we still record that and make it available in the membership site. Then, within 3 to 5 months, we are going to have a live workshop anyway.
It’s just a matter of which one we’re going to do first and which ones easier for us to get done quicker and faster.
Vicious Dad says that we should do it in San Diego.
I swear that is the best city to live in America, Vicious Dad. The only reason why I would have the first workshop in Dallas is it’s easier for everyone to get here. It only takes a maximum of 3,5 hours for anyone in the US to get to Dallas. The infrastructure is so much easier in Dallas than in LAX or in Atlanta.
San Diego’s infrastructure is a little bit tough too because of the traffic and stuff. However, San Diego is such a beautiful city. It really sucks for the people that don’t live in San Diego.
I’ll talk about z cash dash Monero and separate videos guys. I know everybody’s asking about it.
“When is the next move in Bitcoin?” Nobody knows. It just happened yesterday. I’ll do a separate video on the Bitcoin price prediction later.
“What’s up with poloniex?” We don’t have a choice, man. They’re the biggest high volume a cryptocurrency exchange out there, so whether we like it or not, we still got to trade through them.
I think some of the stuff they do on is really fishy. I think that they are churning the accounts, meaning that they are making trades to pump the market and rotate it.
One day, they’ll pump up Ether classic. The next day the pump up Factom and so on.
Therefore, I believe that they’re doing that in the background. Based on the effects that I see in the market, I have no solid evidence to call them out on it, but I’m going to call them out anyway because I think that it’s a bunch of bullshit.
“Do you believe that waves will be $3 at the end of the year?”, Adam Rosansky ask. I believe that waves will reach $3, but not by the end of the year because they need time to build their software technology. They haven’t had the time to build software yet.
As I said before, when we give money to projects such as Lisk and Waves, we have to give them time to build the software. If you remember the time we gave money to Ethereum back in July of 2014, we did not see any price increase until January this year. It’s over a year.
If you start a software project, there’s no way that we can give you $60,000,000 for waves and then you go on and build software and a couple of weeks. That’s impossible.
Therefore, the answer is I do believe in the waves, but they probably not make it at $3 at the end of this year. The probability is not there because the software is not where it needs to be yet.
“How about Supernet? Any correlation with the NXT or others price?” I’ll do a separate video on that.
This is a good question here. Crypto Giraffe says:” What is the tuition costs for the workshop?” It’s going to be depended upon the expenses that we have to layout. We have to put up the money first rent the hotels and conference rooms. We have to pay for the catering and all that. That’s not cheap, but we are working on that right now.
The range is going to be somewhere around $5,000 if we’re going to do the live workshop. We are purposely doing that to keep it small, private, intimate because we want to have time to work with everyone.
We just don’t want to churn and burn and spit out some content then you go back home. We actually want to make sure that we spend enough time to set up the security, your wallets, your trezors or hard wallets and everything. There’s a bunch of security.
The first day alone will be just on security and introduction. We’re going to make a lot of trades in the workshop just to make sure that you do it correctly.
The live workshop is not for short-term traders. You would have to have probably 50, 100 Bitcoins or more to worth your time to come to the live workshop. If you don’t have at least that much, it’s probably not worth your time. Make sure that you have at least 50 or more Bitcoins before you even consider attending the workshop. The workshop was not meant for people who have 1 or 2 Bitcoins.
The purpose of this workshop guys is to teach the class and see the students making a mistake. We record those mistakes on video, correct the mistakes, record that on video and have it available on our membership once we have that setup.
Crypto Giraffes suggests that we crowdfund the workshop, so we don’t have to pay for it upfront. That is actually a good idea. We actually thought about doing a crowd sale to pay for the workshop. Then we’ll record everything that we teach at the workshop and provide to the people who invest a crowdfund. That’s actually a good idea,
We thought about it once and we didn’t know how it would go because people are used to doing crowd sales in the cryptocurrency world. Maybe we should test it and see.
Initially, it’s going a cost quite a bit for us to pay for the hotels and the catering, which is what actually cost the most money. is because they won’t allow people to bring food into the hotel. You have to pay for the food at the hotel. The reason why we’re doing it at a hotel is that people can to come into the hotel, stay at the hotel, come downstairs to the conference room, do the workshop and then go back.
We’re looking at several different hotels around the Dallas Fort Worth International airport. They have some DART rails at the airport. Because of that, we are looking at hotels that are possibly near the DART rail so that people can just get off the plane, jump on the DART rail and go straight to the hotel.
Tai Zen: The Dr suggests that the Dallas Fort Worth Airport is better. It is more centralized for everyone.
One of the things that LeonFu.com and I wanted to make sure is people get the most value coming to the workshop. That’s why we were purposely trying to avoid the west coast because if people come to Los Angeles or especially San Diego, they’re going to party like a rock star and come to class drunk. We don’t want that if they do show up.
I’m going to do another interview with Sasha. I just need to get in touch with him and work out the schedule.
That’s enough for the 5 reasons why the world desperately needs Bitcoin and cryptocurrencies. Those are settlement and clearing purposes on Wall Street, record keeping, remittance market, equal access to the trading world for the third world’s people and the ability to be the main street of venture capitalists.
That’s all I have for today. Thanks for joining me on this broadcast.
I also want to say thanks to everyone for subscribing to my channel. I never thought that we would get this large number of subscribers.
LeonFu.com and I were just broadcasting to help our friends and family and we never thought that we would surpass 4,000 subscribers. That’s absolutely amazing.
I am extremely grateful to be making money in cryptocurrencies.
I’m extremely grateful to be helping other people to make money.
I’m grateful that you guys are following us on Twitter, on a youtube channel.
I will be really grateful and really look forward to working with you at the live workshop whenever we get it set up guys.
If you have any friends, family, or coworkers or colleagues are interested in investing in cryptocurrencies, make sure you share this video with them.
We’ll look forward to seeing you guys in the future of video. This will conclude our live broadcast here.