256: BTCGandalf Talks FTX, Crypto Storage & Why Bitcoin is King

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Investing, Business

4.8 • 518 Ratings

🗓️ 8 December 2022

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the wake of the FTX collapse, we invite BTCGandalf to the show. He is a mysterious supporter of Bitcoin under the guise of Lord of the Rings’ Gandalf. Gandalf talks about what happened to FTX, how healthy other exchanges may be, and the most secure way to store your coins. Derek reveals to Sam a major change in his crypto investment and seeks advice on what to do next in this wild market.

In his previous life, Gandalf was a real estate broker and entrepreneur for a decade. He created his pseudonymous Twitter in early 2021 as he began to get interested in Bitcoin and now dedicates his full time-attention to Bitcoin both independently and through his work with Companies in the space.

Listen to ILAB 256 on iTunes here or subscribe on your favorite podcast app.

Where we are:

Johnny FD – Moldova / IG @johnnyfdj
Sam Marks – Barcelona / IG @imsammarks
Derek Spartz – Los Angeles / IG @DerekRadio

Sponsor:

Shopify
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Discussed:

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ArtofFX – Start with just a $10,000 account (reduced from $25,000)
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*Johnny and Sam use all of the above services personally.

Time Stamp:

10:30 – How did you come up with the persona of Gandalf?
13:50 – Should we be concerned about other crypto sites?
15:26 – Did you have any direct experience with FTX?
18:30 – What happened to anyone who was holding funds with FTX?
23:15 – How can you protect your money in crypto?
28:10 – What's the process for selling your crypto?
30:24 – Is Bitcoin your go to crypto currency?
33:09 – Do you think the drop in Bitcoin is connected to the FTX collapse?
36:47 – Any thoughts on the economies that embrace bitcoin as a currency?
38:51 – Do you see any restrictions being put on crypto currency?
41:30 – What happens when bitcoin “halves”?
44:45 – Patreon: Any action people can take who have investments in Celsius?
45:18 – Patreon: Is crypto a speculation or money remittance instrument?
46:53 – Are there any good indicators that tell you a coin will go up in value?

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Transcript

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0:00.0	What's up, bosses? Before we kick off this episode, I want to tell you about our sponsor this week,
0:05.0	Shopify.com. Now, can we talk about notifications for a second? Who actually leaves those sounds on
0:10.8	anymore? Well, okay, wait, besides that kind, because that sound means another sale on Shopify.
0:18.0	Shopify is the all-in-one commerce platform to start, run, and grow your business.
0:23.6	Shopify makes it easy to sell to anyone from anywhere. So whether you're looking for vintage
0:29.1	teas or recipes for ghee, you can start selling with Shopify and join the platform
0:34.7	simplifying commerce for millions of your favorite businesses worldwide.
0:38.9	With Shopify, you can create an online store that jives with your vibe, discover new customers,
0:44.2	and grow the following that keeps them coming back.
0:48.1	In fact, myself, Sam, and Johnny have all used Shopify at various points,
0:53.7	and we highly recommend it.
0:56.5	And if you want to check it out for yourself, you can get a free trial right now.
1:00.5	When you go to Shopify.com slash iLab, that's Shopify.com slash I-L-A-B.
1:07.6	Now it's important that the I-L-A-B is all lower lower case. You can start selling online today by checking
1:13.6	out Shopify.com slash I-Lab. I'm going to tell you even more about Shopify during the break in the show.
1:19.9	But for now, let's kick off this episode of Invest Like a Boss. Welcome to the Invest Like a Boss podcast.
1:25.8	I'm Sam Mart and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
1:31.9	Join us each week for exclusive interviews with our network of modern investors, business owners and multimillionaires to discover new ways to invest our hard-earned cash.
1:42.6	Welcome back bosses. Episode 256 here. I'm with Derek. We're going to be talking about
1:48.9	crypto, whether you like it or not. It's a mess. It's worth talking about. Derek.
1:55.0	All right. Before we get into that, Sam. How much worse is the bleeding?
2:00.6	We're going to get into that.
	...

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