Burgers for Bitcoin

Talking Real Money - Investing Talk

Don McDonald

Business, Education, Investing, How To

4.2 • 680 Ratings

🗓️ 9 July 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don and Tom kick off this episode by responding to a one-star Apple Podcast reviewer who promised to upgrade to five stars—if they correct their allegedly false Bitcoin claims. Challenge accepted. Don clarifies his earlier “nobody uses Bitcoin” remark by digging into the actual numbers: only 15,000 businesses worldwide accept it, out of over 359 million—roughly 0.0004%, making it statistically more rare than a lightning strike. They also break down the real costs of converting Bitcoin to dollars: while some exchanges charge under 1%, Bitcoin ATMs routinely charge 5–25% in fees, with total costs sometimes exceeding 30%. Then, a listener calls in with a ChatGPT-generated portfolio featuring VUG, VEA, SMH, and AXON. Don tears it apart for being tech-heavy, overly concentrated, and missing broad market exposure—ironically, even ChatGPT agrees with him. Listeners also get advice on why ETFs are gradually replacing mutual funds, when (if ever) annuities make sense, and why indexed annuities are the financial industry’s version of timeshares: opaque, overpriced, and always sold, never bought. Despite the facts and the humor, Don doubts his five-star redemption is coming—but if Greg’s Mowing and Septic accepts Bitcoin, there’s still hope. 0:26 Don confronts repeat negative podcast reviewers 1:35 NavRep’s public offer: “Correct your Bitcoin lies and I’ll give 5 stars” 2:31 Bitcoin rebuttal: 15,000 businesses accept it—out of 359 million 5:13 Teaser: Bitcoin conversion fees part 2 coming up after the break 6:26 Don admits his imprecise “nobody accepts Bitcoin” claim 8:19 Clearing up the 8% Bitcoin conversion fee claim—context was ATMs 9:49 Bitcoin ATM fees average 17.5%, sometimes hit 30% 11:04 Exchange conversion under 1% is possible—but not for quick cash 13:10 Volatility and impracticality still make Bitcoin a poor currency 16:00 ChatGPT jokes: “Beer at a Baptist wedding” & “Greg the mower” 16:49 Caller Jason asks ChatGPT for a portfolio; Don and Tom cringe 17:46 ChatGPT suggested a tech-heavy, overly concentrated portfolio 20:40 Better suggestions: VT, AVGE, DFAW—not VUG/SMH/AXON 21:50 Don’s GPT criticizes Jason’s GPT: “No bonds, no value, no real estate” 23:43 Caller Scott nails TRM’s philosophy and nearly retires Don 26:12 The rare “pros” of annuities—and their bigger downsides 28:24 Indexed annuities: regular income taxed as ordinary income 30:02 Betting against the house: how annuity math favors insurers 31:44 Caller Jane asks if ETFs are better than mutual funds 32:05 ETF settlement is faster, but that’s not a reason to choose 33:30 Vanguard accounts support ETFs beyond their own funds 34:51 Updated: mutual funds now settle T+1, ETFs also T+1 36:26 Jane warned about National Life Group’s indexed annuity pitch 37:07 Why Don hates indexed annuities: high fees, low returns, opaque structure 39:27 Still selling like hotcakes: $27B in indexed annuities sold Q1 2025 40:35 Wrap-up: annuities remain unethical despite legality and popularity Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Rated T for Teen.
0:02.0	Each year, thousands of adults lose their shred.
0:05.0	It's an epidemic simply known as shred loss, but it doesn't have to be this way.
0:09.0	Because rekindling your shred is as easy as playing the new Tony Hawk's Pro Skater 3 and 4.
0:14.0	With new parks, cross-platform multiplayer, and sick new game modes,
0:19.0	we can put an end to shred loss everywhere.
0:22.2	Hit the new Tony Hawk's Pro Skater 3 and 4 and show the world that the shred's not dead.
0:26.4	Pre-order Tony Hawk's Pro Skater 3 and 4 and play the Foundry demo.
0:34.9	Reality Radio for a really great future. We're talking real money.
0:40.1	Big, big, big part of life. Money. It is what drives your existence. It's an absolute fact.
0:47.8	You work really hard to make it. You spend it. You do a pretty good job with that. I mean, sometimes you spend a little too much.
0:56.2	Sometimes you get into debt. Why do you look at me when you say that? Come on. I didn't look at you.
1:01.5	I mean, I looked at your screen a little, but I wasn't. I wasn't. There was no implication,
1:07.3	even though you are taking two vacations this summer. Here I am taking a break from my vacations to be on the show, and you're picking on me.
1:15.3	I know.
1:15.6	You're right.
1:16.3	I should appreciate you being here.
1:18.9	Thank you.
1:19.6	Yeah.
1:19.9	We've got a review.
1:20.7	By the way, we're going to talk a little bit about reviews today.
1:23.0	Oh, no.
	...

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