0:09 okay so we are live and so welcome to kind of a special edition of the way to wow show securing your financial foundation we have a guest host uh today brian by uh bialansky i know i was gonna mess up your name and um we i'm gonna turn things over to brian in just a moment um his guest today is a
0:46 a very long-standing friend of mine i met her when she was two that's how it would be long-standing and she could look so young uh kira storage ave and she's going to be talking about all things cryptocurrencies this is a really really hot topic in the investing world right now and um it's something that i've been looking into quite a bit and and i will tell you i had kira on my show um the way to wow show people making money and she gave what i thought was the clearest explanation of how cryptocurrencies work and so uh we're i
1:21 know um leia is is particularly pleased to have her on the show today and and we're we're also very very pleased that that brian can pinch it um on the hosting so before we get started as is our as is leia's normal practice i just want to remind you about leia's show from last week where actually i was her guest and we talked about the challenges of making a transition when you get hit by one of life's um unexpected occurrences whether it's a death in the family whether it's a divorce whether it's an unplanned
1:58 leaving of a job getting fired or laid off those kind of things how do we bounce back from from those events and i think you will find the discussion that leigh and i had um very useful um we talked about uh really the basis of of our shows um the way to wow who are you what you want which is really the central questions that we have to answer in our lives and and how we can do that using the three pillars of attainment so i invite you to go to our youtube channel the way to wow show on youtube and check out that episode as
2:34 well as all of the other episodes and now without further ado i'm going to introduce to you uh knx news radio personality um brian um polanski polanski there you go brian polanski and brian thanks for uh like i said coming on the show as as a host and and and take it away uh it's my pleasure leia is a long time mentor of mine and uh leia's one of those people when she asks you to do something it's there's no no is not part of the discussion so uh no but it's my pleasure to be here and
3:09 and it's also important i think that we're talking about this discussion because even those of us who consid those who consider ourselves financial educators a lot of us don't really understand a lot of what crypto is so this is a great conversation for everybody involved so uh it's really great to have kira here she has a long history of working in the tech industry she spent time on television in los angeles as a technology expert so she's really fluent in this whole interactive teaching people thing thing and i'm looking forward to hearing from her on that she had a company that did networking for school districts and
3:44 other companies and then she entered the world of crypto in 2017 and she's been providing information to people ever since she's from colorado she's got a great family and she's here to help us out kiera welcome thank you so much it's great to be on the show i i'm looking forward to it so let's dive right in i know people really didn't you know join in to hear you and i chat about ourselves so let's get right to let's get right to the business here and and talk about crypto and and uh and really start us off from the beginning because um you know i think
4:19 there's a lot of people who just really think this is a foreign subject and and and there's a lot of information and misinformation out there and i know you're going to set us straight so so where do we start with this sure well i have put together a slideshow that's really quite informative it's sort of the who what where when and how of the kryptos that our typical questions that i get asked on what is this and um so i'm just going to get right to it here on understanding cryptos and passive income streams because in fact you know for a lot of people kryptos has
4:54 become like a passive income stream and um so i think it's important to go over what is cryptocurrency first of all it's a digital asset that's referred to as coins or tokens and you can exchange currency to buy them anyone in the world can send and receive them so yeah they're people in india the people in you know europe um you know asia all over the world even in third world countries they have access to a phone or some kind of computer people can sign up and get their own exchange basically a membership and then
5:30 they put money in it or they attach their bank account or credit card to it and then who runs it that's another question that's been asked a lot uh each crypto is created by individuals or companies um there are no banks involved and when you open an account it's up to you to keep track of your passwords and security codes that is super important i know people have actually put their money in the wrong place or they forgot their security code and they can't get into their money so that's one of the things i always try to really emphasize is keep track of everything
6:05 put it in a lock box put it somewhere safe it's actually you know it's of value so you want to make sure you know when you have a will even put in your will you know these things are important um it's a decentralized system that no one company or person is in charge of of the system as a whole um who accepts cryptos well it's increasing like almost daily there are more companies that are allowing people to buy with crypto to sell uh to get their services so that includes travel agencies airlines like
6:41 cheap air online stores hotels coffee shops like starbucks you can do it online uh phone companies actually at t is allowing you to pay your bills using cryptos uh credit cards like mastercard actually just said that they're going to accept cryptos colorado the state where i live was one of the first states to accept cryptos for tax payments wow and florida actually just approved it last week so they're the second state and i'm pretty sure we're going to have a domino effect in that so how do we know if let's say
7:17 your coffee shop or your airline how do we find out whether or not folks that we do our business with except cryptos so sometimes when you go to make payments like for mastercard they'll have an option on there to be able to provide your crypto um if you want to go like starbucks i don't believe it's in person it's mostly online like you can pre-order stuff online um they used to actually have kiosks for bitcoin in starbucks stores too and so there are here and there sporadic bitcoin machines sure and so yeah so
7:52 it's mostly online that that can happen i'm pretty sure that at some point soon you're gonna be able to walk into a store and be able to just pull up your your coin base or your kraken or whatever you use and be able to direct your money and you just it's pretty easy like in coinbase they have this button said send and receive and you press the send button and you get a little address and then you copy that address and then you plug it into wherever you're sending it and you also have to put in the amount obviously sure yeah so el salvador is a country also uh last
8:27 summer declared bitcoin as a legal payment in their country okay which is another i think big deal sure um of course there's countries that and i hadn't put it in the slides that are saying we don't accept cryptos you know like russia and china um some other countries but what's really happening behind the scenes is that they're creating their own cryptos so they're gonna have their own internal cryptosystem sorry my dog is barking at the same time um so anyway cryptocurrency was invented in 2008 by an unknown person
9:04 or a group of people using the name satoshi nakamoto okay uh the currency began use in 2009 when it was released as an open source software where anyone can use it and i hope you can hear me over my dog no you're good we can hear you just fine excited we can hear um the first trade with bitcoin was in october 12 2009. it first started trading from around point zero zero zero nine cents to the dollar can you imagine because today i believe it's something
9:39 like 55 000 per bitcoin so i should have bought 100 bitcoin back in that time exactly right and people did buy it so at that time they had to store their bitcoin on their computer it was very different initially it wasn't like on a cloud or you know in an exchange or anything that has all evolved over time so some people who thought you know after a couple years it's not worth anything no big deal it really hadn't moved much they got rid of their computer they lost their bitcoin
10:14 i'm already stories like that crying in my beard just thinking about that huh i'm already crying in my beard just thinking about that i know right you think it's poor people it's just awful they could be millionaires that's awesome right so you know the thing is is that a lot of these coins are increasing in value and that's my next slide where cryptos are all based on supply and demand so each token or coin when it is created has only a certain number issued and there's a finite number of them the higher the demand for the coin the higher the value so some increase
10:49 quickly when they're first published such as apecoin which increased 1200 percent in one month you know what that was this month okay yeah so if somebody bought a coin on march 1st and bought it for a dollar right one dollars worth right they'd have 1200 or more so that's what happens especially when there's these new coins now they're coming out is people kind of jump onto the market and they just blow it up and they buy buy buy it's kind of like when a stock goes public it's the same concept okay
11:25 but the great thing about this is that the average person any person can have access to the coin when it first comes out which is different in a stock exchange when it when a stock goes public there there's a select group of people that are allowed to get in when it first goes public so you kind of miss out on the big leap right so that that's a big difference i think in the availability of creating wealth with the kryptos so this is a big question that a lot of people have is about the security of their money when they do this
12:01 yes exactly yeah so um you know there are a lot of different exchanges out there i really like to and this is not financial advice but what i personally like to do is use uh exchanges that are well known like crypto.com you know or crack in finance things like that where they have very secure platforms but overall the crypto industry uses the blockchain which you can see from this diagram is a great example of what it really is it's just a whole bunch of computers that are scattered
12:38 all over the world and instantaneously when you make a buy or a cell or you send crypto it is recorded on the blockchain not just on one computer but a whole bunch of computers so that allows for better security and better record so one of the reasons crypto was created was to have better security with financial transactions because you can't counterfeit or replicate any of them all cryptocurrency transactions are recorded on a network network of computers called blockchains right a blockchain network
13:13 agrees on each transaction at lightning speed of every buy and sell that has ever taken place and records it permanently so it's always on record so is is there a way to know which coin might be more secure or less secure is that a concern we should have as far as maybe even with a new coin that's coming out um no there's not such an issue of security with the coins the issue of security is with programs that are created using cryptos that people are selling that can be unscrupulous okay and that's what you really have to watch
13:48 out how do we protect ourselves from that yeah that's a tricky one so i have done investments in different things um and one i got into was artificial intelligence bot so it's a it basically does does the buy and sells for you using forex trading for an exchange trading so the bot is basically a software program and you use it on an exchange so the exchange and the bot were good the only thing is that there was an intermediary that holds the
14:25 money like a bank and they decided to up their commission structure like in one day and took everybody's money so you have to be really careful with those kind of programs that it's not really big it's not really well used yet you know it's you have to be really careful with those i have to say i have learned the hard way and then there's other programs that are great but crypto.com it's actually publicly held it's huge
15:00 um so yeah so i would say do super homework on whatever you choose to invest in um you know the cryptos like big um coinbase and um crypto.com and other ones they can have some issues with people trying to break in but they have really good security and what will really help and really matters is that when you sign up with a system you need to do their high level security whatever they provide and offer for security you say yes i want to use this like the 2fs 2fas authenticator like
15:38 google authenticator or passwords that are like about you personally that you need to answer questions you know transaction codes i have one that i'm in called hyperverse as four levels of security yeah all right so here we go these are the different kinds of cryptos there are now thousands of digital coins out there and more being created every day the popular ones are ethereum bitcoin and litecoin and more the newer ones are it's not financial advice but i'm saying
16:13 that the great bet is that um the newer ones they increase in value quickly like i was saying about eight coins sure um in a short period of time another one is shiba inu that when it came out it went up 29 million percent in six months right right crazy right so you got to find the one that the guy who's making the electric cars is going to talk about next on twitter and getting on that one right right exactly yes i mean entertainment does come in as a factor of this whole thing right sure sure
16:48 yeah even with nfts and we're going i'm going to get into that too and that's definitely bringing in the whole entertainment industry yeah there you go um so crypto mining you know some people ask what is crypto mining i've heard this whatever um miners are individuals who record transactions in the world of exchange oopsies sorry of exchanging buying and selling of cryptocurrencies each miner has computers in order to record the transactions it takes many miners and they get paid in cryptos for doing the work and verifying blocks of transactions farming started out in people's homes
17:23 when bitcoin came out and now people have multiple servers and some are installing wind farms and solar farms to keep up with the energy needed to mine so here's uh actually a picture of one right here and this is a whole you know system right here with computers and servers and then this huge farm right here solar farm so you know it's good that they're trying to keep up with it in a um in a way that's better for the planet because that's been one of the issues is that some of these transactions like with bitcoin are causing more harm right
17:59 in terms of on the planet because of the energy usage but they're definitely addressing that sure they're going to build in dubai i believe the largest wind farm for supporting uh mining coming up here wow um so cryptos are sold in exchanges much like like a brokerage site you know like you have charles schwab or ameritrade where you can buy stocks you can buy cryptos in similar places the top ones are coinbase which is publicly traded company finance kraken crypto.com gemini and there's more and the great thing is it's 24 hours a day seven days a week
18:36 the con side of that is that in the middle of the night you may wait wake up and go oh my gosh you know i wonder what's happening with my cryptos did it crash i gotta get up and look at the you know the market right that's happened to me i'll admit it so um what is the crypto wallet it's a place to hold and send your coins or tokens like a plank like a bank account it's an app that you download on your cell phone there are fees to transfer digital money transaction fees there are many such as clevertron coinbase finance and more so most of
19:11 these exchanges also have a crypto wallet that you install on your app got it um so why do people buy and sell them well for one of the obvious reasons is as an investment for long and short-term gain so you know some people who like had the bitcoin early on that's definitely a great long-term game some people they like to buy and sell buy and sell you know they're on at all time um also to get a higher rate of return than a savings account you know savings accounts they don't really give you a great return on your
19:47 investment right um to be also to be this decentralized worldwide trading platform is another reason and to buy and sell goods and services and pay taxes and to purchase digital items like nfts in and also in the metaverse land buying the digital land got it okay so nfts i wanted to get into that because that's really hot right now and uh anyone can create nft in fact i created three yesterday um it was pretty easy to do okay yeah it's basically called non-fungible tokens nfts and this property that can
20:23 be sold via digital marketplace uh even large corporations are selling their own such as nike and budweiser and nft is a unique item with with a sole owner when you buy one you own the intellectual rights and you can sell it okay so there are places you can go openc dot io or magic eden dot io was also another one i created three uh nfts based on paintings that i've done on openc yesterday and it was pretty easy straightforward so um there's also
20:58 youtube videos on learning how to do it for sure and so metaverse land do you know anything about this one i do not but i'm ready give it to me it's crazy really is i decentraland.com is an example of a site to buy and sell virtual land and create your own avatar it's a virtual world much like a video game and you can look around and meet avatars and check out real estate and you can buy real estate some actually rent their property and make money from this as an elan holder
21:33 similar to cryptos it can go up and down in value so this is what it can look like and these pictures are from decentraland and um so when you like sign up on decentraland you actually have to initially create your own avatar so you can see on the bottom right there's avatar guy sure and then you get to walk your avatar all around and see what it is that's for sale what you're interested in i mean it's basically as if you were walking down the street and going hey i really like that house it has a for sale sign i'm gonna buy it you know but you gotta have some assets
22:08 not ever in order to buy it you gotta have some coins you know so uh it's it's a whole nother world i'll tell you literally it really is yes and it's increasing interesting yeah so there are stable programs for passive income investments like staking crypto coins which allows you to get a percentage of your coins so it's like an addition to what you're already getting okay uh hyperverse which i talked about earlier uh i've actually been in i've been in that since last year and it pays
22:45 a steady stream of 0.05 per day on your investment over a window of time um i really love it it's been a great passive income stream and um it it's different because you're not having to worry about the up and down of the market okay um also you can actually buy stocks with crypto investments so there actually are some mutual funds that are based on cryptos now so there is there's a blending that's happening you know even the finance industry and the banks are very weary of cryptos behind the scenes
23:21 they're actually buying crypto you know and they're creating funds and using the blockchain to record data and financial information so um and then there's forex trading using artificial intelligence i talked about it that earlier there are some good ones out there you just have to be super careful and then there's the space prosperity program which is actually a company my husband and i and a team of people created at spades.community and um the coin is called spades so we're gonna have that on exchange coming up here in
23:56 a couple months and that's pretty exciting and here's the big question that's right that's what everybody else knows do you pay taxes on earnings yes you do but here's the but it's every exchange where you can convert out to your local currency you have to provide your bank account and id number so like coinbase or kraken all those i was talking about you have to provide that information so when you convert out and put the money in your bank account an earnings report is issued at the end of every year and
24:31 you'll need to file your earnings and pay taxes on it so you're paying taxes just like it's on on any investment where whatever your gains are is what you're paying taxes on correct currently that is how it is right although i have heard that you need to be able to report if you've made any money on a coin even though you haven't brought it into your account which is very hard to do because yes you may like sell within the system of like crypto.com but it's still holding in your your account in there and then you may buy another coin
25:07 so usually it's at the end of the year whatever your revenue is in that system is what you have to pay taxes on interesting so cryptocurrency tax rates depend on your income tax filing status and the length of time you owned your crypto before selling it if you owned it for 365 days or less then you pay short term gains tax which are equal to income tax if you owned it for longer then you pay long term gains tax and that is something obviously a person needs to talk to their accountant about and uh go over you know all that stuff
25:43 and and do most accountants get that do they understand this process yet or do you have to go to a specific accountant to find somebody who understands how crypto works i'm assuming that cpas in particular are getting more up to speed on them on all this because so many people are invested in it and also the us government has come out with some newer you know tax codes on it that they should be staying on top of right right yeah but i would go to a cpa for that so it's it's one of those things where i feel like a lot of people just are are kind of just afraid of this process
26:19 because it's it's it's it's foreign to folks it's unlike what we're used to doing it doesn't have a traditional pathway for things how do you ease people's kind of fears you know when they want to think about you know if if i've got a little bit of money to invest or whatever the case may be what's the thought process well only invest what you're really willing to risk sure is what i always say because it is a risk you know um so and it's something you need to get educated on and understand what you're getting into for sure so
26:54 what are the best ways for people to educate themselves on this i mean obviously seminars like this are great but this is just basically scratching the surface so where is the best way is there you know is it a bunch of youtube channels are there websites we can go to what's the best way to go do this yeah i mean there's definitely more and more people doing videos on this on youtube and um there's new online newsletters that you can uh subscribe to that are probably free too okay that's also a way um i learned just by doing you know
27:30 and then when you sign up for a lot of these exchanges they actually have their own news kind of page where they have most up-to-date information on what's going on in the crypto market so like crypto.com it's been really helpful i just read the little snippets that they have underneath where it says with my balance is and then i can understand sort of what's going on what's the latest what i need to keep up with and um that's also another way of doing it so you learn by doing how much do we have to have to kind of just start to dabble
28:05 you know if if you're afraid and you don't want to put you know you know catch out your 401k and put it into crypto can you start with with a hundred dollars can you start with five dollars what's you know if there's not a lot of risk to learn and play what's what's the lowest number where you can actually start with and actually really learn something sure yeah i mean you can start with like 50 bucks you know and go into crypto.com or any of them or you know you can even sign up for some of these and not link your bank account yet and still kind of play around and look around and look on the website and it's free to do that it doesn't cost
28:40 anything sure sure so that's a good way too um so yeah you could just play around with like 50 bucks and sort of see what's happening with the market see how your money moves um i like to look at sort of watch what each of the coins is doing because they do move similarly okay um and so when the coins go up most of them go up at the same time when they go down most of them go down the same time and part of that is because we've got these larger like hedge funds or larger
29:15 investors that have a lot of the coins so they can actually move the market so um but there are patterns that happen with the coins and there are ups and then there's downs ups and downs and it kind of keeps going like that and up and that has been historically where it's been going is it continues to increase in value but you just have to be able to weather those times those days where you go oh my gosh you know it's down five percent uh what am i going to do i just lost
29:50 this money no it'll probably start coming back up again but you just you have to have the patience it's it can be difficult you can't sweat it a lot you know kevin you've got a question i understand yeah i'm just gonna um was that a new myself so cara where do we find out about new coins that are coming onto the market um and and is there a source for kind of getting some sense as to which ones
30:25 are you know worth even the time to check out let alone you know worthwhile to consider investing in yeah um actually if you do a google search online for a new coin alerts there are some um websites you can sign up and they'll just send you a text message that says hey this coin just came on the market jump on it if you want to you know um so i signed up for something like that and oh my gosh there's so many new coins coming out and it's it's a great service you have to be on top of it obviously because as
31:01 soon as it comes out you want to just kind of jump on it honestly um and and just test it you can see you could put in like 100 bucks or something or 50 bucks whatever and then just see what happens i mean really one eight point that went up twelve hundred percent in a month that's a worthy investment for sure so um but you do have to watch out because sometimes they fly up really fast and then they start to go down a bit and correct itself so that's why it is good to get in early on it but yeah you can find alerts online they're on there
31:38 so is is this kind of a long-term investment situation or is this something like penny stocks and day trading we have to be on top of it every day and really be on top of things um so personally i feel that they're long-term plays because historically that is what's happening is that it is this up and down thing that keeps going up um there'll be times like uh bitcoin went all the way up to like 65 000 actually last year and that's the height of where it's been and then it dropped down to like
32:13 i think 38 and now it's going up and it's up to 55 so you can see i mean it definitely has this wavy thing that going on so a lot of people really like to buy it when there's a dip they like to go into the coins when there is a drop and then they see opportunity because most likely it's going to go up again these these coins are going to be around especially the larger coins that are traded a lot they're going to be around for a while so does a coin come online and then eventually go away does that happen a
32:48 lot or often um there's some coins that are not pushed out enough or marketed enough and that's part of this is you actually have to market these things you know and so that means that there's not going to be much movement in them because people aren't aware of them so because it's based on supply and demand the value of it won't go up so much unless people are buying and selling you know there's got to be movement right right so that's why things like shiba inu and eight point you know all these like fun names or dogecoin you know because
33:24 elon musk pushed it out there what happened it just flew up right it gained in value because we had the backing of some kind of marketing vehicle so is this at the moment see it seems to me like like bitcoin and cryptocurrency are more of an investment game right now than a place to put your money for like doing transactions of everyday living right is it is it really right now still much more of an investment where in in time it may become more of a place where you can basically do all of your financial transactions good question
33:59 actually i know some people that aren't even using their banks anymore okay they're actually just solely using their cryptos to pay their bills to um you know take money out move money pay their friends whatever um yeah i know one guy i talked to him the other day he goes yeah i don't need my bank interesting so are that that that's you know i don't know if everybody's going to do that but that people were really into it are really like taking advantage of this opportunity yeah i'm just curious how limited they are and what
34:34 they can where they can do business because all they're doing is their business and is in crypto um well more and more companies are accepting these now so as you s you know they're taking advantage of it because they want to be have be able to have any kind of vehicle possible for people to make their payments so if people are making money and like they bought into eight point let's say and it went way up they're like oh i got these coins i'll just convert it into usdt and i'll just pay some bills because i made that money you know right right so what else do we need to know that we
35:10 haven't talked about yet we've covered a lot you know and i guess the future of it all where it's all going is what we could talk about just real quick um it's just going to continue to increase and what i see is like the blockchain technology is going to become more and more valuable over time i mean yes the kryptos but truly the backbone of the kryptos are the blockchains right so blockchain is a way of recording data we're gonna see like medical records
35:46 insurance claims you know all sorts of things recorded on the blockchain it's going to be the next level of security and data so people are investing in that right now i think it's really smart so and you may not have the answer to this but i know obviously with the way the world is today we watch the markets go up and down a lot of times on what's happening with world events we have a war going on in europe and and we see that reflected sometimes in our stock market is has the events of today of the last
36:21 six months are they reflected in how the crypto markets go up and down at all or are they are they immune to that excellent question it has as far as i know and when i read the news about cryptos they do see an uptick in the usage of kryptos uh because people want to have a secure place to have their transactions and money um you know i hate to say it but you know people in russia you know they're ruble collapsed basically right and a lot of people were into cryptos even though it was banned they still had access to their crypto accounts so they're moving money they're
36:57 moving money from their regular bank accounts into the crypto world because there isn't that kind of tight regulation and ability to you know confiscate or to put create sanctions and stuff like that that would affect their their country's money right so there is and also ukraine you know the people in ukraine oh my gosh look at the devastation but they could push their money from their accounts into the crypto so that they could keep it in a place and in fact when you push money into the kryptos you can keep it in a stable coin
37:33 which is called tether which is tied to the us dollar or i think there's different uh currencies in different countries they have their own stable points but it does not move so they can actually push their money from their bank accounts into these stable coins so it can sit there and it's not going to fluctuate so it's actually been more positive for cryptocurrency than it has been for a regular stock market yes recently has gone up and of course that doesn't always going to be that way depending on how the world moves it's just i mean the last couple weeks i think it's gone up like
38:08 10 percent to 15 yeah sure in 2017 it skyrocketed when i got in it was just crazy it just became the thing you know but now it's definitely more you know an up and down kind of deal got it yeah world events um definitely are definitely playing into the crypto market now more and more i think because we've got just millions of people who are investing in it now right right kevin you have another question yeah um so cura you know some of the
38:44 things that i've read about kryptos especially from you know a government standpoint is um that they're being used for um you know money laundering or illegal transactions what do you think is going to be the effect of dealing with that issue um whether it's you know future regulations or or just the whole sort of way that you know potentially that that taints the market for cryptos etc sure yeah i definitely initially uh there was a lot of that going on there's
39:20 been more of a clamp down in terms of security and who has the accounts so when you go into an exchange you have to provide your id and it has to be verified and now they're taking a little bit longer actually verifying your id and verifying that yes in fact this is your bank and your bank is allowing you to do the transactions um so i think that that is one way that they're clamping down on this and doing some background checks basically behind the scenes when you're trying to open an account
39:55 so that will help i can't say it's going to make it perfect you know and for sure there's definitely people moving money you know unscrupulously perhaps but also people are doing business with it in very legit ways so so what's driving that because i know initially crypto was advertised as kind of like the the the dark way to save your money from being seen and followed and all that kind of stuff if now you have to be verified and everything isn't that kind of an antithesis of what crypto was was designed to be
40:31 yeah that is and it's the evolution of it but it is still decentralized okay and that is the key that is what everybody really wants is the defy they want to have it decentralized where we don't we're not relying on the banks so can you give us an example of of why that's advantageous or why that some why someone would be interested in decentralized for those who who might not be really up on that um you know i mean there's different things one of the things that i talked about in
41:07 terms of the the pluses of getting cryptos is that you have a higher rate of return than you would having your money sitting in a bank account sure so that is one advantage um uh you know there's different other reasons that you have more control over your money you have more control over moving it to different places and buying and selling so it's kind of this combination of the stock market and having your own control over your own money and your own destiny basically so um i think it's just a level of
41:42 autonomy that people like with it yeah there's a lot of skeptics out there you know who still think crypto is a passing fancy is there is there it's been around for a long time but it's basically been around for a split second when it when you look at it um what is kind of the prognosis for for where it is is is it are we is the world of too deep into crypto for it to go away now at this point yeah i think so definitely i mean more and more businesses are accepting it countries are accepting it even like i said the
42:17 countries that are banning it they're still creating their own currency digital currency and the federal reserve is actually going to open their own division they've been talking about it for cryptocurrency so there's probably going to be a us dollar crypto coming out as well um you know they just i think a lot of them see the writing on the wall and it'll just continue to evolve most of these cryptos actually have functions behind them they're not just coins so when you look up the definition of the coin like when you go into your coin base and you say oh i
42:53 want to see what is a coin you know so you can look at they're actually helping to support the blockchain they become an aspect of the blockchain for gaming and video gaming they're a coin that is on the blockchain so really it's quite interesting that these thousands of coins are being made are the backbone of the crypto world so it's really being propped up by lots and lots of people it's kind of like you know freeware you know when freeware came out on the internet it's sort of
43:28 it was exciting it's very creative you know everybody gets involved and they they work as a team together and they just creating something better for the world they feel like you know so i feel like this is a similar thing that's going on with the crypto market so putting the money into crypto we're not into banks how long does it take for banks to start thinking how to how to get into crypto that's a good question you know i mean when i talk to people in the finance industry they're like don't talk to me about cryptos i could lose my license you know something so i mean it but it's changing you know because there's an interplay there's
44:03 definitely an overlap that's happening um and i think they're just gonna have to start figuring out how to accept them more you know how to work with them because uh you can't just keep your eyes closed that's not gonna work right you know kevin do you have any other questions before we start to wrap things up so you know i wanted to kind of go back to what i had asked before so people have to get verified um in order to get on an exchange and they're verified through their bank account so how does
44:39 how does being verified through your bank account how does that impact the disintermediation function that you know that crypto is at least somewhat designed to facilitate right because one of the things another thing i've read about crypto is for you know there's a certain percentage of people in the united states who are unbanked generally they're lower income people right a few million actually yeah exactly so for for people in that situation this is an opportunity for them to be able to um
45:14 do financial transactions without having to worry about whether they have an accounted you know i don't want to you know slam any particular bank but whatever bank it is right so how do you see that developing this this sort of somewhat cross purpose between needing to be verified and yet not being bankable for you know for people in that group yeah that is a super question because yes the crypto's actually fulfilling that need that people are having that are unbanked you know um even people in
45:50 third world countries you know that can't open a bank account don't have access but yet they've got a phone you know and they can open a crypto account and start making payments or receive money from around the world and um some banks are still really reticent to connect in with the crypto world i was just talking to a friend who's in canada actually this morning and i was helping him kind of connect in with coinbase and sign up and all that and he said yeah um my bank won't accept this like they don't want to connect in
46:25 with the crypto market using his credit card and for sure not even his bank account so he has to find another way to go around it um so i think it's just time you know we'll see how it all kind of flushes out because the demand is there and the desire is there for people to have access to be able to create wealth and money so if i don't have a bank how do i get money into my first crypto account well they can have like a prepaid card you know credit card
47:00 got it okay and and just load up the card right and then they can connect that interesting have you heard anything about how um payment services like um you know venmo and and zell and square you know some of these how are they responding to you know the advent of crypto do you know anything about that yeah i mean some of them are accepting crypto too so you can see um like on paypal i believe you can do cryptocurrency as well
47:35 so they're starting to add their little buttons saying do you want to use crypto you know they know they know there's money out there there's billions of dollars floating around in the crypto market of course they're going to want to have some funnel you know to be able to allow people to move the money and it's already happening in that case you just connect your your um your crypto wallet basically to to a service like paypal and that way you can be virtually seamless wow
48:12 right yes i'm not sure with zell yet because it's a it's usually a bank to bank i believe right for that um so i'm not quite sure huh yeah zelda's bank debate but even venmo is connected you know you have to have a bank account to download it to once you know you with venmo you transfer between people but once you get it into your venmo account you know unless you're just going to pay someone else with venmo if you want to get that money out you have to have a bank to do that right that's true yeah interesting yeah yeah yeah i mean it's definitely an
48:47 evolution this whole thing and you know for a while it felt like the wild west with it all you know i just i mean 2017 i was like i don't know which way this thing's going to go no idea you know and then more and more companies and like i said the coins they're huge part of this whole industry getting stronger and having a better foundation is because they're playing these little parts in the whole system that is not going away especially when they increase in value so then now these companies that are backing the crypto
49:23 blockchain or whatever aspect they have more wealth right right so then they have more ability to make things happen higher programmers you know to prop it up i can't see that changing right so it strikes me if you want to use this as kind of a your your your banking for your everyday business your everyday life it's probably smarter to put your money into some of those bigger coins that everyone knows about and then if you want to try to make a lot of money and do it that way you're looking for those new coins that are going to grow fast or grow over time right yeah yeah that's a
49:59 great formula that's a really good simple formula to work with yes all right i i think a lot of people are just are just afraid of it they're just flat afraid of it you know that's what's kept me from from trying it out um my lack of knowledge and my concern over you know i don't have a ton of money to invest and if i don't really understand it then i'm gonna go to something that may or may not be as good but it's something that's you know i can understand sure and um you know people understand how the stock market work people understand you know what a mutual fund does but
50:35 crypto has this just kind of mystique and and about it that it's very you know underground and and all this kind of stuff and i think that's slowly going away um but and it is i would also think that that fear is generational you know i i'm going to guess that uh you know i i i had a host on a podcast called the millennial in me and i was always the starchy guy who didn't know anything and she would do all this fun stuff and it strikes me that that millennials are probably much much less fearful of this kind of thing than you know old fuddy-duddies like me
51:10 yeah i guess so you know it's funny millennials are really into the nfts and the metaverse land okay yeah the older people are actually into the cryptos more okay which is interesting you know very much so i think because it's more like a video game when you go into the um the metaverse land you do your avatar i mean for me i made me dizzy yeah i was like oh my gosh i gotta create avatar i gotta walk around i just it was too much yeah but younger generation i swear the younger generation is gonna
51:45 be the wealthy one and i and i think that's why we are missing laborers in different stores that are paying minimum wage or whatever you know there's always these signs that say you know openings please come no because they're online and they're making good money so real quick because we we're quickly running out of time yeah i asked kevin when we said this are we going to get to an hour he goes now we'll get to an hour we're getting to an hour let's talk about just real quick nfts the not non-fungible tokens which i still think is something you should be able to get an antibiotic for but um um
52:23 what's what's this new nft game i mean it's really kind of in the last six months to a year exploded and and there's a lot of people who you know are are young artists people who aren't even artists who are creating stuff that are they're calling art you know and then i also hear of some really established artists who are using this can you give us kind of a quick nuts and bolts on how nfts work yeah i mean nfts is a wonderful vehicle for artists i mean i'm super excited about it i love to do artwork you see my painting behind there um
52:59 it's just a great opportunity especially for those people that already have a name established you know that helps a lot um the value of their nfts goes way up because it's like when you go to an art auction and you want to buy the art that has the most value because of the most well-known artist you know so it's a similar thing but on a lower scale you don't have to pay thousands of dollars for an art piece you could pay like 10 bucks you know or you can pay at some of them go up to a couple thousand dollars for these nfts so um
53:34 the only thing that i can see with nfts is that because there's a flood of them now is that this is supply and demand issue again is that when there's a greater supply the demand will change the price will change right so it is somewhat risky but when you get like budweiser selling nfts on their website which they did somebody told me about it and i was like whoa i'm gonna see what that's about they were sold out in like five minutes sure and they're gonna retain value
54:09 so probably like anything if if there's a lot of demand and and then it goes away some people will drop out and then the the people who are gonna stick with it are the ones who are gonna who are gonna reap those benefits yeah i mean there's some people who really play it they play the nft market really well i actually have a friend who's doing that and he has a mentor who's in her 20s okay and she knows all about buying and selling nfts and she's making hundreds of thousands of dollars in her 20s off of nfts nice she knows how to play it sure you know they you just got to
54:45 focus in on it and just say this is the thing i'm going to get to know this is what i'm going to understand the most and you know be willing to risk some money um but those players are doing extremely well right so my my last question and if kevin wants to jump in when we're done here when i'm done is is this something i need to spend five hours a day working on or can i be just the i check in once in a while i do a little bit here i do a little bit there i'm guessing both ends of those spectrum work in different ways right sure yeah absolutely yeah you can you
55:22 can just put some money in you know and and be like i'm just gonna let it ride and see where it goes not worry about it you know i know some people who bought bitcoin when it was ten thousand and now it's way up there right but they bought it a couple years ago they said i don't i don't care about it i won't worry about it you know and it's had its up and downs and everything it's great valuation right now for them so yeah i mean that's an easy way we don't have the headache and stress of worrying about it but some people are really into it you know and they want to just watch it every day like me i get super addicted
55:58 to this thing and i'm watching it and i'm like oh my gosh i better like move it into usdt and wait and you know yeah got it yeah it's it's all based on your interest level you know and how risky of a player you are they go so i i uh i like it i to me it's kind of fun nice nice yeah but um but you gotta you know when 2017 i got into it i put money in and i made twenty thousand dollars in one month yeah that's good money it was great money it
56:33 was a shock you know it's just zoomed right out but sometimes you gotta know when to sell so that's the other piece you know but um but i have a system where i put into the hyperverse i make daily money and then i withdraw money and i put that into my cryptocurrency and then i invest so that some people create different income streams and they connect them all nice yeah i think i've got some reading to do kevin yeah right you gotta do a little googling in a little youtubing
57:08 yeah so um when this when the show posts on youtube um i will go back and and here i'll put your contact information there because i know you're you're always uh um open to people getting in touch with you to learn more about um crypto as well as uh hyperverse i know we work together on hyperverse it's been it's been a great um partnership there and um um you know it is interesting if you think about the very early days of this country prior to the war for independence we didn't have a national currency each state issued their own
57:43 currency individual banks issued their own currency and it was it was such a hassle because there was no ability to easily transact with different currencies and and crypto in essence has recreated that world with the added benefit that if you have bitcoin and you have ethereum it doesn't really matter there's an easy way to transact even if you own different cryptocurrencies so we're we're going in essence back you know back to the past the future is is really the past reinvented in a more efficient way it's it's it's really quite quite fascinating
58:19 and um you know i think it's it's just a it's really a great opportunity especially for you know people like us who wouldn't have been a part of of the financial world in this way before we just we just we were not in that in that group right we like you said we didn't have access to the the um uh you know the initial public offerings and that sort of thing so uh really yeah i mean it is empowering i made my first my first investment my next-door neighbor came over and he said i want you to invest some money in this
58:55 and i said i don't even know what it is he said well it's it's dogecoin and i'm like what is that right like he's like i'll tell you what i'm gonna do i'm gonna give you a thousand dollars to put in dogecoin and and in you know in two weeks i'm gonna take my thousand dollars out and you can keep whatever profit we make and if i lose money don't worry about it i'll just take whatever whatever's left can i be his friend can i be his friend i'll give you my you got my phone number it's time to make a connection here come on over to my house i'll sit you down you'll have a bourbon i'll invite my friend over right and um and that's exactly what we did
59:31 and now i still have you know however much dogecoin i have that was the profit from from that initial transaction so you know sometimes i you know you have to have a friend who kind of gives you a a bit of a kick in the you know the back side as we say um you know to get you off the dime but it's um it's it's been it's been a terrific investment and then to move on to other things like like hyperverse and such so so i i you know i get the privilege of first of all thanking you kyra my long-standing great friend for for coming and sharing your knowledge with us and brian you know thank you so much for for guest hosting um terrific job
60:08 and we i think we need to talk about having you do a show um on your own here yeah you're great oh well thank you very very simpatico right i love it i love it so so that's that's uh that's it for this week uh just a quick um uh pumped for next week uh leia siegel will be back as hosting and her guest is gonna be owen i believe isn't that last name was pronounced beanie um owen has uh um a a business called uh points power and it's it's a
60:43 i think it's kind of an affinity and incentives program um it's something that um leah has leia has been involved with for for quite some time she's very excited to have owen on her show and so please tune in with us every thursday 1 p.m pacific time 4 p.m eastern time and an hour each way coming as you go into the center of the country mountain time and central time and again thank you so much to brian to kira really appreciate you uh such a tremendously great job and uh we'll see you all next week thanks so much
61:24 you