78: Bitcoin 101, How to Invest In Cryptocurrency
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 7 December 2017
⏱️ 62 minutes
🧾️ Download transcript
Summary
Bitcoin, a digital currency, has been creating hype for thousands of investors around the world. We probably have heard about Bitcoin and other cryptocurrencies circulating around the internet and a lot of people want to understand what it is, how it works, and why they should invest in it.
This episode helps you answer the question – Should you own Bitcoin? Johnny and Sam give their insights on Bitcoin and other cryptocurrencies and why it is considered the future. They recount the growth of Bitcoin over the years. They give tips on where and how to buy them, how much should you invest, and how to keep them safely stored. They also specified the downside of Bitcoin and what to expect when owning one. For those who are interested in buying Bitcoin, listen to this episode and find out if this investment strategy is perfect for you.
Links:
Where we are:
Johnny - United States
Sam - United States
Discussed:
ILAB 38 - Chris Dunn: Bitcoin, Crypto-Currencies, and How to Profit
ILAB 71 – Bitcoin vs. Ethereum, and the future of the Internet – Ivan on Tech
Time Stamps:
04:38 – Should you buy Bitcoin
09:18 – Ripple used by banks
10:24 – What makes Bitcoin popular?
17:20 – The growth of Bitcoin
18:27 – Predictions for Bitcoin
20:27 – Highest trading volume in terms of countries
22:04 – Governmental Risk
26:27 – How much should you invest in Bitcoin?
30:38 – Ether vs. Bitcoin
31:51 – Downside of Bitcoin
40:14 – Where and how to buy Bitcoin?
46:43 – How to safely store your Bitcoin?
52:49 – Plan of Action
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Copyright 2017. All rights reserved. Read our disclaimer here.
Transcript
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| 0:00.0 | This week's episode is sponsored by Audible. |
| 0:02.9 | Get a free copy of the new Unshakable by Tony Robbins and many other audiobooks at |
| 0:07.5 | Invest like a boss.com slash audio and sign up for a free audible trial. |
| 0:12.9 | Welcome to the Invest Like a Boss podcast. |
| 0:14.9 | I'm Sam Marks and I'm Johnny FD. |
| 0:16.8 | We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. |
| 0:21.3 | 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. |
| 0:30.5 | Hey, everyone. Welcome to episode 78 of Invest Like a Boss. Sam, it's awesome to be with you in the U.S. even though we're on separate sides of the country. Dude, who would have thought we'd be in the U.S. at the same time together as much as we're abroad and love being abroad. And we're splitting the coast. So we got East Coast. I think you're on the East Coast. I think you're on the East Coast now. and I'm in the West Coast. It just landed in L.A. yesterday and popped up the Santa Barbara for a couple days of wine tasting. |
| 0:58.8 | Yeah, so I'm in Florida right now in Miami, and somebody messaged us asking if we were both in Thailand. |
| 1:04.1 | And I was like, no, we're actually both in the U.S., which shouldn't be weird because we're both American, but I haven't |
| 1:12.3 | been back in a year, and you're not here that often either. |
| 1:15.0 | Well, give me your immediate thoughts before we jump into the buzzing world of Bitcoin. |
| 1:20.1 | It's different, man. |
| 1:21.1 | Like, there's a lot of little things that I completely forgot that was normal. |
| 1:25.3 | Like, for example, I went to the yard house yesterday, which is a bar restaurant. |
| 1:31.5 | And I asked for the bill, asked if I could play with the credit card. |
| 1:34.3 | And I'm so used to having them bring a portable card reader to the table in, you know, |
| 1:40.7 | across Europe and I guess, you know, in Asia as well. |
| 1:46.0 | And when they, I mean, he said, yeah, of of course we take card and he kind of just waited and just just just stood there for me to give him my card |
| 1:50.7 | and i was standing there waiting for him to bring the card read over and it was just so awkward |
| 1:54.9 | well i tell you what man i can't get used to the prices here it's every i I just came from Hong Kong, which is one of the most expensive places in the world. |
| 2:03.6 | But California's no dog. |
... |
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