38: Chris Dunn: Bitcoin, Crypto-Currencies, and How to Profit
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 25 January 2017
⏱️ 75 minutes
🧾️ Download transcript
Summary
Chris Dunn is a world-renowned entrepreneur, investor, and educator. He has unique expertise in crypto-currencies that he developed off a background in day trading. He uses this powerful medium to profit off trades in Bitcoin and other crypto-currencies as well as direct investments in Fin-tech start-ups.
Chris joins us from his base in Austin, Texas to give us his perspective on how the average investor may look to play Bitcoin, what the risks are, how to acquire and store digital coins, and what the future may look like. It is an eye-opening episode and a great intro to the new and complicated category of crypto-currencies.
Chris's Links:
Website: Chris Dunn
Company: Skill Incubator
Twitter: @ChrisDunnTV
Discussed:
ILAB 19: Simon Black – Finding Outsized Returns Off the Beaten Path
Crypto-Currency Market Capitalizations: Coin Market Cap
Book:
Harry Dent: The Sale of a Lifetime
Show Notes:
03:15 - Skill Incubator
04:30 - Traveling 60+ cities
06:16 - Austin Texas
07:11 - Video Podcasting
08:30 - What is Bitcoin & Cryptocurrencies?
12:03 - Blockchain
12:20 - Value of Bitcoin
15:32 - Invest and save capital
18:18 - Flaws and drawbacks
22:10 - Daily exchange and taxes
25:15 - Making a profit
24:48 - Where to buy
30:47 - Public and private key
35:23 - Coinbase
36:10 - Proper trading
39:13 - First-time investment experience
43:40 - Competitors & market caps
46:24 - Gold & precious metals
50:49 - Johnny’s Bitcoin investment
52:42 - How Sam lost $30,000
55:37 - Tesla downpayment
56:08 - Accepting Bitcoin for digital product
57:25 - Banks, large bills & paper money
1:01:00 - Amazon coin
1:05:42 - Paypal’s rolling reserve
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Copyright 2017. All rights reserved. Read our disclaimer here.
Transcript
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| 0:00.0 | Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. Join us each week for exclusive interviews with our network of modern investors, business owners and multi-millionaires to discover new ways to invest our hard-earned cash. Hey guys and welcome to episode 38 of the Invest Like a Boss podcast. I'm Johnny FD and here with Sam Marks. |
| 0:23.7 | Hey guys. Hey Johnny. How you doing? Yeah, fantastic. I'm really excited to have our first guest on this on the podcast about cryptocurrency. Chris Dunn. Yeah. Yeah, it's been a long time coming. And on that recent survey that we put out at Boss Lounge, a lot of people want to hear more about Bitcoin, cryptocurrencies, and how to play them. |
| 0:42.3 | So perfect timing. |
| 0:43.5 | And maybe nobody better than Chris Dunn to talk about it. |
| 0:46.8 | Yeah, definitely. |
| 0:47.9 | Because, I mean, personally, you know, I don't have any experience with cryptocurrencies. |
| 0:52.6 | I don't know if that's going to be one of my, |
| 0:54.6 | you know, forms of investing. It probably definitely won't be the main form of investing, |
| 0:59.6 | but I think it's one of those things where the whole point in this podcast is to explore |
| 1:03.4 | different modern types of investment vehicles. And this is definitely one that could be huge. |
| 1:10.6 | So for us not to have |
| 1:12.6 | cryptocurrency guests on, just because that's not something that we personally like to invest in |
| 1:17.0 | right now, would be a disservice to the listeners. So this is why we want to be, you know, |
| 1:22.3 | kind of on the forefront of everything that's possible. And this is, you know, this is something |
| 1:26.6 | that could be huge. Yeah. And this is, you know, this is something that could be huge. |
| 1:33.2 | Yeah. And this is one of those really complicated topics that listeners will surely have a wide range of knowledge about. So we'll try to cover a lot of different angles. And, you know, |
| 1:37.8 | really just from the basics of what a cryptocurrency is, what Bitcoin is, how it's built, |
| 1:46.0 | how long it's been around, and all the way up through, you know, how to profit. And this is something that I had a really bad experience |
| 1:50.8 | with going a few years back. I lost a lot of money in it, but it's still very high of, a very high |
| 1:56.9 | interest to me. I still own Bitcoin. I still believe in the concept. So I'm really looking forward |
| 2:00.8 | to having Chris on to get his perspective on the future and what we should know about it. |
| 2:05.7 | Yeah. And if you guys have zero interest in buying Bitcoins or investing in Bitcoins itself, |
... |
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