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Episode 116th August 2021 • Generation Bitcoin • McIntosh
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Welcome to the Generational Wealth with Cryptocurrency podcast!

What is Cryptocurrency?

What are we trying to accomplish with this podcast?

What is Generational wealth?

A (very) brief history of the Internet.

McIntosh can be reached by email at macintosh.fintech@gmail.com

Transcripts

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Hey guys before we jump into this podcast I need to let you know that no

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one on this podcast is a financial advisor and all information presented on

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this podcast is for informational purposes only and now that we've got the

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legal aside let's jump on in welcome to the generational wealth podcast I'm your

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host magnetosh and today we'll be giving you an overview of this new podcast so

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what are we talking about generational wealth with cryptocurrency we'll begin

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by talking about what is cryptocurrency cryptocurrency itself is simply a

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digital or virtual currency it's secured by what's called cryptography meaning

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you know digital security making it difficult to counterfeit and through

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technology called the blockchain which we'll discuss more in another episode

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it's just digital technology that's grown up to allow digital money to be

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used we have different brands of it so to speak of course Bitcoin is probably

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the most known it started it was one of the what I would call the original

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modern cryptocurrency began in 2009 in January so 12 years ago at this point

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there certainly are many others another one that you very likely may have heard

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of it's called aetherium we'll be talking about it as well as Bitcoin of

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course and then there's a large number of others some of which we'll discuss

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many we won't there are actually thousands at this point of crypto coins

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and one of the questions that people will have as well there's so many how do

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you know which ones to use we'll talk about that as well but I do want to

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provide an overview today of kind of the crypto environment I want to talk about

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what we're trying to do with this podcast because this isn't a podcast

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about day trading I'm not gonna come over on here today and say oh bitcoins

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at forty seven thousand and you know you should be selling because things are

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looking bad or bitcoins that you know forty eight thousand and you should be

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buying because it's looking good or or whatever there's plenty plenty of

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podcasts and YouTube channels and that kind of thing about trading crypto

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that's not what this show is about this show is about building generational

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wealth for you and your family what do I mean by that we'll talk about investing

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in high value crypto currencies that are going to appreciate in value over time

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and we will spend quite a bit of time discussing how you can invest so that

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your assets will compound like to put it more traditional terms when you take

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your money and you go stick it in the bank over time that bank you you have

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interest on on that maybe it's a CD right you stick it in a CD and it's

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supposed to get a couple of percent of interest over over a period of time

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similar things can happen in crypto the fun thing is is that over over time the

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proper crypto assets are going to appreciate both of the value of the of

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the coin itself plus you're gaining more of them so that's a really cool way to

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to increase your net worth and I'm not looking for short-term gains it's fun

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when prices jump but I'm really looking at where are things gonna be in 10 20

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30 years because this is a long haul one of the interesting things I've saw the

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last year or so meme running around the internet where where they are comparing

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where is crypto right now to the internet and what they mean what they're

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talking about is commercialization of the internet the internet was actually

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created in 1970 but one of the things that really really helped the internet

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take off was the creation in 1994 by Marc Andreessen of a technology called the

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web browser you're probably familiar with it you may be sitting at one right

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now Google Chrome in Microsoft Internet Explorer the Apple Safari browser you

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know there are a number of them at this point but they enable us in a very easy

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graphical manner to you know to go around the internet and do various

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things but that point in time was where the internet in a sense took off so

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there was a long period of time before that where they were developing the

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technologies that allowed that to happen that happened other things happened

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along with it but then the value of the internet really really took off after

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that and they are comparing crypto and its current state right now and we'll

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talk about some numbers in just a second to that point and after looking at you

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know all this data I actually believe that I do believe that you know some

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people think that oh I've missed the train the train is isn't even pulling

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out of the station yet to use that analogy right but it will be but you

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don't have to miss it and where it's going could potentially be a very very

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promising place right so just some numbers currently right now there's

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about 200 million crypto users sounds like a lot it is a lot of people we've

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gained a lot of traction in fact the number of crypto currency users over the

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last eight months or so has actually doubled a survey they did very early

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this year they figured out that there was about a hundred million crypto users

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now we're at 200 here in August of 2021 so progress in the early days of crypto

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was very slow the first three four years of bitcoins existence there were very

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few users and and but they slowly picked up some steam so to speak acceptance

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different other crypto coins have come along and added to that and so now here

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we are August 2021 we're at 200 million users huge number but think about

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this there's 8 billion people in the world roughly numbers slightly below

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that but 8 billion is really easy to say right plus if you do the high school

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math to figure that out 200 billion crypto users 8 billion people in the

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world that means that are only two and a half percent of the people in the world

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are using crypto now think about that for just a second let that sink in 97.5

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percent of the world population does not currently own any crypto and you may

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think to yourself well there's people in the world that don't need crypto maybe

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there is right now I'm not going to dispute that we'll actually discuss the

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vast group of people who are called the unbanked they don't have access to

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traditional banking infrastructure and that's actually accelerating a movement

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among that group of people to crypto but maybe they don't will they in 10 years

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a lot of them will well they in 20 years even more of them will 30 years from now

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they will and there will be very few people who don't use crypto so I'm

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really thinking in the long term I'm not thinking about 2021 2022 maybe even 2025

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I'm thinking about 2030 and 2040 and 2050 when we see the end result of all

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this because just like when Marc Andreessen created the internet what

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that's not true let me rewind that statement created the web browser in

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1994 he didn't see the potential of what was going to happen but if you could

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have you would have been able to invest very early in companies like Amazon

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whose stock probably initially was very little now it's not little it's it's I

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don't know what it is actually currently I have no idea but it's it's very high

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Apple right Apple stock has gone up tremendously since then even though

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they're not directly an internet company Facebook these kind of companies if you

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had gotten in early you could have made a large amount of money so not only do

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you have that opportunity with crypto we do have an opportunity to not only have

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our assets appreciate but we have the ability and we're gonna we're gonna

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spend probably multiple episodes talking about this it's certainly touching on it

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quite frequently but you have the ability to have your assets compound so

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that you're gaining more of them as time goes on your asset appreciates but

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you're gaining more of them and that puts you in a fabulous place in the

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long term so anyways what does that mean so we're gonna be talking about a lot of

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this stuff I'm going to be very careful not to to talk without using a bunch of

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jargon and when I do use jargon I'll explain it I do have a background in

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software and systems engineering so I've been involved with crypto for a while at

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this point for several years several actually it's been quite a bit and so I

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have this message that I'm trying to deliver that it's not just about the day

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trading it's not just about the let's get rich right I have children of my own

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and I want to be able to pass something down to them not just you know a little

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bit of money that's all gone after you know they blow it let's be honest they

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take the money and they go out and buy a car maybe a little piece of land or

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maybe they even buy a house with it but I want to be able to give them something

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that will continue to grow over time so that when they leave this earth that

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it's passed on to their children and their children and so on and it grows

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over time that is true generational wealth and that's what I mean by

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generational wealth I'm not interested in making a quick buck I think over the

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long run crypto will change the world just in the same way that we've had

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computers and the internet and even the cell phone changed the world up till now

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and we're seeing the same thing happen with robotics and autonomous vehicles

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which means vehicles that can drive themselves right self-driving cars what

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they call them ten years from now when all the trucks are driving around

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without drivers how's that going to change the world some ways good right

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some ways it'll be will be safer things may get here faster because the trucks

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will drive overnight because the driver won't have to sleep but in some ways

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it's bad because you've got people a large number millions of people in the

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United States who they won't be able to make a good living driving a truck so

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there's a pro and a con to that but and there's probably well there's pro and

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cons to crypto here but you can benefit right now by getting involved at this

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early stage and it is early I said earlier Bitcoin 12 years old people like

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oh man it's been so long ground floor seriously ground floor these next few

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years are going to be pivotal in the growth of crypto we are seeing crypto

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being accepted at the nation-state level not to get off into this but earlier

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this year El Salvador basically well they they passed a law saying that

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Bitcoin was legal tender meaning it's acceptable anywhere that the dollar is

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that's their other form of currency that was a monumental step for crypto in

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general for Bitcoin specifically and maybe we'll do a show about that at some

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point I think that was it was a pivotal point and I think there's some really

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interesting things going on there so I don't know maybe we'll we'll do an

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episode about that at some point so anyways to wrap it up that's where we're

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going I certainly would love to hear from you I can be reached at McIntosh

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dot fintech at gmail.com with your questions comments please don't throw

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