very cool very cool i have two final questions big picture cryptocurrency questions that douglas
we like to ask a lot of our guests that come on the show so if you were investing or
how would you invest one thousand dollars in cryptocurrency today
if you're newly coming into this space or maybe if your son 18 years old he's like dad i'm trying
to get into crypto what um how would you do it well my son's been in crypto for a while
he's been super excited about it i think that yes i think that if you were to get into it
i think that really there's there's two big boys and that's obviously bitcoin and ethereum
for the newbie when you come in and i'd say it's probably like a 60 40 or 80 20 70 30 split where
you've got the majority bitcoin a little bit of ethereum now ethereum hasn't done a catch-up yet
i think ethereum could go much higher i i agree with the story that it could be in five figures
for sure but not today not tomorrow but certainly it's going to have that march higher once other
folks get behind it and gas prices start getting more expensive you know it's like if i could go to
the gas pump when it's trading at a dollar and put it all in cans and keep it for a later day i would
and and so that's what i think about with ethereum with bitcoin i just know that the adoption's
coming and it's coming steadily and it's coming you know all the time and the other thing is you
don't have to put a thousand dollars into it at once instead what i do is i'd say you know what
buy fifty dollars every single day just do that on a steady basis so you've got this sort of like
you know this is what that's what the institutions do they don't come in and buy a billion and a
half right now they buy you know one dollar every single minute and that way you get a
nice weighted average and that's how we do it in currency markets too so just weight your average
but at the same time you don't have to invest all at once just get a taste
you go to someone like coinbase today you can also learn about things you can watch videos
i know i'm telling you to go to the competition but we're not live yet but go to the videos and
you can read about what graph is or you can read about all of these different projects and you can
just start getting into the rabbit hole and then start getting your twitter start following all
the folks you think you should follow on twitter so you've got that running stream of information
go on clubhouse and start watching and listening to all of these just walk into rooms and listen
ask questions and then start following guys like yourselves where you come in there and
you get that education on a daily basis look my son doesn't get his education from me he gets
it from youtube and that's a reality for anyone that's 18 years old it's either from youtube or
it's from tick tock that no one listens to their father anymore and so that's where the education
is that's where people learn things and that's where you should go because you're going to learn
stuff quickly and and fast doing it in that manner and there's lots of different projects out there
but i wouldn't jump into the projects first first i'd have a little taste of the bitcoin just so
you can play in it and watch it and get a feel for it because once you're in once you've set up that
e-wallet you're gonna be in again and again and again and again the hardest hurdle that i find is
convincing someone to open up an e-wallet like what are you talking about and i'm not
talking about a trezor or i'm not talking about anything or a new wallet i'm talking about just
opening up a wallet somewhere because they're used to always getting money put in their bank
and securities put over at their at their e-trade and so opening up something else is to them sort
of new then they worry what if i lose my password well look don't lose your password and uh what
coins does your son like do you know obviously likes doge if he gets a lot of information
he's not he's not touching dudes he's got ethereum and bitcoin and that's it
and and if he ever veers away he gets a stern glance from me but you know look he's i'm happy
and bitcoin's more about just bitcoin and money it's about learning about saving you know because
you get kids and kids just want to take money they just want to spend it and they'd rather spend it
oh i need this new stereo i need this i need these headphones and if you say to him look why don't
you hold off invest in this there's a possibility that in a couple of weeks time you could buy three
sets of headphones and once he's seen that once or twice over the course of a month or he's seen
a down draft of 20 to 30 and then it come back in so he gets his confidence behind him again
or her that's the sort of thing i think that's important is you've got to one get let people get
used to the volatility two make sure they have a position size that they can afford to lose
and three though it teaches saving and it teaches monetary economics it teaches you
the fact that you know what the bank is screwing you up it teaches you the fact that there is a
way to save you know and when i see him and he scrimps base off of the money i give him each
month and he saves a bit and he throws it into bitcoin or ethereum it gives me a little bit
of pride because now i know he's saving because when i told him to put it in the bank it never
went in the bank it went on to candy you know i don't know what it went on but it disappears
very very quickly when you've got teenage kids and so now i'm actually seeing it grow
and seeing something grow and seeing your kid talking about how he doesn't want to spend
instead he wants to save that gives me a great amount of pride very cool and and but crypto
does that right once you get into it you think about do i really need that flash car or maybe
i should put it into bitcoin and trade the crappy car because i could buy 10 flash cars tomorrow and
i think that people think like that in crypto in the early days of crypto it was let me buy a pizza
right or let me buy a lambo and now i think the guys have bought a lambo when it was trading at
sixteen 16 000 are now kicking themselves because they could have bought the whole dealership
and no one wants to be the pizza guy and this is why i say no one spends bitcoin
why would you spend bitcoin on coffee you don't want to be the pizza guy you want to be the guy
that's sitting there by the time you're 65 and say you know what did pretty good on
that did pretty good and if you didn't so what it wasn't a big enough chunk for you to worry about
don't ever invest what you can't afford to lose and don't ever invest what you're not uh
don't ever invest in an amount whereby if there's volatility you're gonna be worrying about it
just make sure you put in enough so that you can sleep at night and you're not worried you don't
have to check it every two seconds if you're checking every two seconds position is too big
yes great perspective make sure you watch the full conversation there's a
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