Is It Time To Finally Believe In Bitcoin?

Recorded in April of 2020, we discuss life in quarantine, and what this will mean for Bitcoin in the future. Plus we talk about why reading and studying crypto can only get you so far.

You can truly find a case for any stance you take on cryptocurrencies. Love them? You'll find lots of articles to support your stance. Hate them and think it's magic money, you'll find those articles too. At some point you have to make your own decision and go with your gut on whether or not to invest in this high-risk investment.

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Full Transcription: 

Erin Gregor: All right. Welcome to another episode of clarifying crypto. I'm Erin Gregor here with my cohost Gary Leland. Gary welcome. We're still in the middle. We are like, we're recording this in the middle of April. We are in the midst of quarantine. Had a, it's just kind of in some, we're still in some pretty interesting times.

Have you done anything? Have you learned anything new in quarantine? Anything that you've gotten into that you weren't into before you had to get locked up?

Gary Leland: Um, well, yeah, I am I'm uh, actually quarantine has been kind of good to me. I've started moving, you know, I took on the position as Executive Vice President for Biz Talk.

Erin Gregor: Yes. Yep. You got it. You got a job. Yep.

Gary Leland: Yep. And, uh, yeah, you're the person that said that to me. I was telling him it's quite about that last night. And I said, yeah, a friend of mine said, you're like, we're going to work for someone. And I said, I couldn't remember who said it. That was me. Yeah. Yeah. But you know, because I, my retail stores are basically shut down.

I have really had nothing to do. So when this is my third interview today, so I guess I had some time to do is sit and interview, but third time I've been on the air today. So I decided to go after and start working on that. And I've learned quite a bit. I'm really kind of an expert at Spreaker now. I didn't know all the features that Spreaker has.

And, um, I've learned quite a bit, to be honest with you. This has been a very good experience for me, whether I stick with them longterm or not, it's been a good experience for me. I've learned a lot about podcasting and a lot about radio. Maybe more say than I knew about podcasting. So I'm enjoying this j-o-b, even though I don't have a boss, someone calls and starts yelling at me.

I'm going to just tell him to get. Yeah. Yeah. Tell him where to shove it. Yeah. Yeah. But I, I think, uh, I think, and then, uh, you know, it's opened doors over at Spreaker too,

Erin Gregor: So what's Spreaker? I know I've heard of it, but I'm draowing a blank.

Gary Leland: Spreaker's a hosting platform.

Erin Gregor:  Okay. That's what I thought.

Gary Leland: Yeah. But, uh, what they can do is they can put ads in your podcast and I selected spots.

So you can check and say, I want an ad before I open or two ads before I open or no ads for I open. Yeah. And, uh, you can go through your file and go. I want to add here, here and here. I want one ad here. Two ads there, one ad there. I want to add when it's over. And then they have people that advertise with them and they fill in the spots where you tell them they can put commercials.

Erin Gregor: Oh, interesting. Okay. And then they find the commercials for you?

Gary Leland: And they find that's right. And it's a, it looks like a good way to monetize to me, but it's not like every spot they don't have enough commercials. Okay. We fill up all of the requests for people that I guess they're hosting because, you know, for instance, I did a show the other day and I put my normal thing is I put in yeah.

The commercials for that, their shows have three breaks cause they're radio shows. So they have special breaks. Hey, we'll be right back after this word from our sponsor. And that happens three times, right? Unlike a podcast or radio show has a time clock. They're going to talk to that sponsor at nine minutes and 30 seconds, whether you ready to or not, you know, so you can really easily find the spots.

And I noticed that some of the times they'll go and we'll be right back afterword from our sponsor in a commercial. We'll be there. Well, maybe I said two, but one will be there. Maybe it'll say it. And there is no commercial there, you know? And I said, put two commercials there and there's none. So obviously they don't have enough commercial spots.

To a filter request cause they don't want to do this same commercial either to the same person.   So, um, I guess they can tell somehow how that's happening. So I'm kind of interesting to see how it's going, but I'm working on one show now. It was just a big show. This guy he's on Fox news. A lot, a lot of people will know who he is.

If they watch Fox business news, not Fox news, but Fox business news.  So I'm working on his show and with him right now, which has been real interesting too. That's been really interesting in itself. So actually I'm making a lot of new connections in new areas that I hadn't made yet before.

So this'll be very good thing. And like I said, I haven't, I haven't had them say no, I just tell them what we're going to do. And then we'll tell so, and so I've told them, whatever you say is what we're doing. So they've seemed to have given me a carte blanche. I guess, I probably know at 65, I'm not going to listen to a bunch of crap.

Erin Gregor: Probably you've been around the block enough in the podcasting world, you know? Hopefully what you're talking about.

Gary Leland: Right. I have no idea what I'm talking about. I think the owner of the company, I don't think he's going to be listening to this podcast. So I think I can say it, but I don't think he'd ever listened to a podcast or the day before he met me, you know, so he could see what was going on.

Erin Gregor: Yeah. Well, there's a lot of people who've never, it's amazing to me, how, even when I talk about what I do, it's Oh, what, what is that? How do I find a podcast that, and I mean, as much as like, we're, I mean, you've been doing it way longer than I have, but it's so second nature to me. And it's so second nature about like my kids listen to podcasts.

I list like we have a podcasting is our world, and yet we're only at about 50% of the population. It just went up to 51, I think last year it's not high. Exactly. Well, yeah. And it just seems like there's a really long way to go. And in terms of podcasting.

Gary Leland: It moved quickly though, um, not as a whole, since it started in 2004 and in 2010, no one still knew what a podcast was, but in the last six years, so let's say it's really done a massive growth, but most of its growth has been to me in the last definitely after 2010.

,Cause I remember I'd go to, like, I remember going to an Apple store asking the guy or if he knew what a podcast was and he told me that's crazy.

Erin Gregor: They were like one of the biggest podcasting directories out there. Yeah. That's awesome though. Well, let's talk about crypto and podcasting. So I was telling you before we hit record, excuse me, we're just such an interesting time because.

You know, we're in the middle of this coronavirus. So the economy's at a standstill right now. We don't know what's going to happen and we're about to go into our next mining half. So I know there's a lot of , predictions and certainty around that, but basically you could make any stance you'd ever want around cryptocurrency or Bitcoin specifically, and you could find a supporting article for it.

We're about to crash, right? Uh, again, we're about to, it's about to hit the run. It's going to stall a little bit after May, and then it's going to hit there. It's just. It's hilarious to me because everybody's got a prediction yet no one really knows what they're talking about.

Gary Leland: It's like a, I saw an article today, Ross Ulbrich in prison.

Predicted Bitcoin is going to go down to 3,500. I don't know how he's making these predictions. They don't even allow him to access a computer. Cause he is. I mean, his mom's tell me that. She's great. Lynn is really great. I've talked to her multiple times, but she's told me he's not even allowed to access a computer cause he's considered a cyber criminal type of thing.

He can't even, and they're scared that if he got on a computer, I mean, unless they've changed it in the last year, but if he got on a computer, he'd be able to hack his way out of prison or something, I guess. So I don't know how he's really getting the information he needs to make that prediction. But then I saw...

Kyosaki the art and then two articles that Kyosaki the author of Rich Dad, Poor Dad that Bitcoin's getting ready to go through the roof. The biggest thing we've ever seen, and those articles were like only in my blog reader, two posts between them, you know, so you're right. There's complete opposites. One is going to be the lowest.

It's been since 2016 and the other one is going to be the highest has been ever in history in there.

Erin Gregor: Well, I don't know if it was the same article, but I was reading that article about how it was about to go down. Cause we hit 10 in February and then it crashed at 3,500, but I'm like, but it's saying that the same indicators are there that allowed it to go.

That went from 10 to 3,500. But to make those indicators where like when Corona hit the coronavirus hit the U S and the economy stopped. So. I don't know how those indicators are coming from the same, unless there's like a new virus coming and we're going to stop some more, but it just was very interesting to me that it was the same indicators.

Gary Leland: And if you remember correctly, not that I'm a financial advisor, but I told you it was 800. I told you that was the bottom didn't I, I said I was going to buy because it was the bottom. And you said, how do you see is the bottom? I said, I don't know. I just felt like I couldn't go too wrong no matter, even if I was wrong and it turned out to be the bottom.

So I was kind of patting myself on the back there.

Erin Gregor: Maybe you need to be writing these articles. It's like the weatherman, right? Like, or weather, woman or weather person. You could say, I mean, you can say whatever you predict and what you think, and nobody really questions. You, nobody goes back to say, Oh, you know, you were right or wrong.

You've been

Gary Leland: wrong25

Erin Gregor: times,

Gary Leland: why would we believe you now?

And you can find yet you get just as much credit on your 26 time. Yeah. Yeah, exactly. And that's what I saw. Same thing for XRP the other day, it was going to go down the lowest ever, but it's getting ready to break this point. And if it breaks, this  point is going to the moon, you know, So that's a, yeah, I think, you know, that's why they say you have to do your own research.

You can't just take someone's word for something. Cause it was both perfect examples.

Erin Gregor: Well, and it's both perfect examples and I mean, even, you know, we're dealing with something that really we've, it was developed during the last economic, uh, recession. So we really never have seen it go through, so no one can really predict anything.

You know what I mean? Like, and the thing is too, I think we've talked about this before, but even when it comes to the stock market, you've got the history, you've got more substance behind the decisions and the numbers, but people can't even predict that either. Like you never could have predicted, this is, you know, this virus is going to hit the U S and things are going to crash.

So. It's such a, it is such a grain of salt and you really have to do your own research and kind of go with your own gut feel. I hate to say it that, and like, and like I said, we, neither of us are financial advisors. We just happen to invest in Bitcoin, but, um, You could find proof for any argument you want.

And so it really has to be of what you believe, you know, what you're willing to risk and what you're willing to try, because you could, you could find any article if you're on the fence and wanting to scare your self away from it or. Make the case to invest in it. Cause it's about to go to a million.

Gary Leland: So event with the stock market who would have predicted what's happened with stocks in the last week and a half.

Oh my gosh. You know, you know, my wife was wanting us to get completely out and I said, no, I think we need to wait a couple more days. And Oh my gosh, last week was the best week the market's had since the thirties, you know?

Erin Gregor: And again, Amazon's at, I love Amazon stock has done very well for me. I haven't sold any, but I mean, it's higher than it's the highest.

Gary Leland: Yeah. Yeah. Everything's up. I mean, like I said, I'm just talking to market as a whole. We were ready to put everything into cash and now I'm glad I told my wife, cause that was a Friday evening. She was like panicking. He said, let's see what happens Monday. Cause I'm a little, I think. Being involved with Bitcoin for the last couple of years, nothing bothers me, much.

You have

Erin Gregor: no emotion anymore. You have no heart 20,000 to 3,200, you know?

Gary Leland: So I was like, let's just give it till Monday. And then it went up Monday and it went up Tuesday and Wednesday and went Thursday anyway. Well, Friday was good Friday, then it sat, dropped a little bit yesterday, but it's up today? Big.

So I'm going okay. Are you happy? We didn't sell it. She goes, I never said sell, right?

Erin Gregor: No, it's hilarious. There's an itch. What was that article? You posted, it was like, can you retire? I want you to expand that. So you have the Four Minute Crypto Podcast. Can you retire off one Bitcoin? That was your, was it today that you came out this morning?

So what was the I didn't, I didn't research in there. What is the consensus on that? Can you..

Gary Leland: Well there are people think

who in time 1 Bitcoin

in time will be enough to retire off of, because of the amount of Bitcoins that there are. And, uh, you know, in the fact that younger people. You basically are buying Bitcoin because they're so turned off on stocks.

So they're going to digital currency and that Bitcoin will be considered and classified as a, uh, asset that you asset class. Yeah. You'll need to be in like gold is that people will start moving their money into that. Especially as we started having the inflation caused by this $12 trillion or $10 trillion or how many trillion it is that they're printing.

Then I had a conversation with someone last night, you know, we already have the boomers. Let's face, it control most of the wealth. I mean, they grew up in a time when there was prosperity. We were on the gold standard and the monolith inflation. So they've got a lot of wealth and they had a lot of opportunities that younger kids aren't getting now, younger kids are seeing their second financial crisis in their life.

You know, uh, where boomers really never saw one when they were young and starting to move into things. That's interesting. So boomers control the money nine, you know, cause they're, I'm on the younger end of it at 65, my brother, who's almost 80 and as they're dying is going down to millennials and, um, they, when they're receiving the money, a lot of them.

Are not into stocks. And even if they are in the stocks, they're still in the Bitcoin way more than boomers work. Cause they understand what the internet is and they understand at least waste. They know how to use it, the internet. Right. Okay. So that more people will be buying Bitcoin. And we had the conversation last night on the show.

I was as to whether the Corona virus was speeding up that process. Since older people are dying at a much higher rate than younger people. So it was the wealth transfer happening quickly, maybe in the United States. It's, you know, you see these big members in the United States and they go, Oh, it's more than Italy.

Well, it ought to be more than Italy. Italy is a size of Florida. Is it more than, I mean, can we start it on this anyway? Yes. In other parts of the world, they have a really high rate, you know, percentage wise per the population compared to the U S I think I'm not a scientist and I'm not in a financial advisor, but those people also are getting.

Inheritances. And, uh, so they're putting some of theirs into Bitcoin is what the articles proposing. It didn't have about to death. I added that, but it did have about the millennials getting the money. And so as the millennials get the money, they put it in to Bitcoin at a higher rate than the boomers would have because the boomers are comfortable.

Stocks and IRAs have been very good for boomers. Yeah, yeah, yeah. Let's get out of this thing. Just doing good. But the younger people don't have the faith and IRAs and stocks. A lot of them, you know, a lot of kids, this, this is going to change everything. This virus, a lot of these kids have been working. At a college changing jobs, you know, trying to move up the ladder cause they're not working for themselves and maybe they're not savings a lot of money, but they're moving up the ladder, another can and again, no money and they're going to, whatever I've been wasted my ass off for 10 years trying to move up this corporate ladder.

Now my company's out of business or my company is not hiring and I'm starting all over from scratch, you know? And, uh, you know, what are they going to do? You know, are they going to be. I don't know what they're going to do. That's a good question, I guess, but yeah, things are changing and that's what the article is saying.

One Bitcoin could be all you need as time goes by and the value of Bitcoin goes up.

Erin Gregor: And it's the buy and hold. And we've talked about this too. I was listening. It was a Bitcoin podcast, but it was a story of the woman who somebody got her into Walmart very early on. And she had a key. I mean, by the time this, uh, financial.

Person had gotten a hold of her account. I mean, she was four or 5 million into Walmart and he asked her, he was like, you know, how did you get into this? And she was like, Oh, I, my friend worked for them when they first public or something. And she bought like $1,100 worth. But over the course of like 30, 30 years, I mean, this wasn't a, she wrote it out, um, overnight, you know, she was.

A millionaire. And he said, you know, had she really been paying attention to this and freaked out when it fell in half or when, you know, when bad things happen and she would have sold, she never would accumulated this. And I think that's what really people have to understand. If you're going to see that you can retire off one, this isn't a.

You know, try to play the market and keep buying high selling low and trying to play that game. It's just, it's really a, you could try that, but it's the ignorance and just not even. Yeah.

Gary Leland: And he wasn't texting her talk. So she had no idea what I said. Her ignorance was bliss. I'm not giving her a hard time, I'm saying, but because she wasn't paying attention . She had $5 million worth in Walmart where you're right. I hear people all the time that all the time that's a terrible way said, but I often hear people say, I knew if I bought that stock  in 1980, I'd be rich down. I go to you, wouldn't be rich 20 bucks. It had got to a hundred and you just saw it dip and you go, I'm taking my profits.

Cause I'd rather when it dipped to 80 ego, I'm up, I'm taking my profits. You wouldn't have written it down and written it back up cause you'd have wanted your profits. That's the hardest thing to do is to sit there and watch that go. Like I did with Bitcoin, watch, I go down to $20,000. And just say, you know, I believe in this longterm, so yeah.

And most people can't, you know, so yeah.

Erin Gregor: Well here's what cracks me up too. So when the argument of Bitcoin, and I know we're kind of going off, but. Uh, I've talked to people who won't get into Bitcoin because they missed out on the window. So whether it was a hundred dollars or $5, or even, you know, $500 because they can't get it that cheap anymore, they won't buy it.

They won't look at it. And I'm of the mind it's not coming back and here's the deal. Like we can make that argument. Let's go back to Amazon stock or even Bitcoin. I mean, I'm up on the average about. 10 to 15% right now, like on the that's pretty good in a year's timeframe. Like that's better than the average and considering.

How much the stock market has gone down or, I mean, that's still.

Gary Leland: That's even with the Bitcoin bust that we had recently and everything, Bitcoin is still the best performing asset for the year of 20 20. And Bitcoin, if you take January the first date to today, Bitcoin's only down like two or 3%. I mean, Bitcoin in January was like 7,100, you know?

And now it's 6,900, you know? So, I mean, Bitcoin has been a pretty good compared to the market. It's been a pretty safe, uh, investment.

Erin Gregor: Yeah. So, and if it goes up, you know, like, let's say, if it goes up to 20, that's tripling your money, essentially. Right now I'll take a triple of my money. If it's like people just kind of think irrationally it's like even Amazon, I bought Amazon at $900.

It was not a good deal. It's a 2200. I dabbled, I I'll, I'll double my money all day long. Like I don't care where I buy it would have been a better deal before. Sure. But I'll take the doubling of money anywhere I can take it. And people just, I, it just cracks me up how they look at it. I'm like, that's kind of silly to look at it that way.

Could you have made more? Sure. But now you're going to miss out on making any kind of money because you don't want to jump in. Cause it's not cheap enough.

Gary Leland: Yeah. And that's a terrible way to look at it. I agree completely because you're just going to miss an opportunity. So then you're going to go, Oh, Bitcoin's a hundred thousand dollars.

I missed my opportunity. Like I got 500, you know?

Erin Gregor: Yeah. I'm not going to buy it anymore. Cause it's not at 7,000. Cause I was going to get in at 7,000 and didn't, but it cracks me up. But speaking of cheap, I told you, um, I was just, I'm like playing. I'm like, yeah, let me just play with this. I think, I think it's like Dogecoin or Dodge coin or something named after a dog was that's what I was reading it, but I bought $50 worth.

So I have 27,000 shares. Is it going to go goodbye? You think so?

Gary Leland: Yeah. Yeah. You know, the guy who invented that, um, matter of fact, and I mispronounced his name wrong on a show one time and he, he posted all my, uh, are you serious? It is pronounced and the correct pronunciation and other people were like, yeah, cause I didn't know his name.

I was just reading. But anyway, he started that as a joke, just as a joke. He never expected it to ever have any value at all. And the thing about Dodge coin, though, whether it was a joke or not. The thing about Dodge coin is there is no limit on Dodge coin. They'll never know. Just stop making Dodge queen it's made to forever for eternity.

New Dodge coin will be printed our minute or mind or however it's made. So there no cap on Dodge coin. So you've only got 50 bucks in it. So it makes the money. You could make some money, it could go up, but you're not going to get, uh, I don't think, you know, rich off of Dodge coin because they keep making it.

Erin Gregor: I made $4 in a week though. Should I, should I take $4 and run or should I try to get this to eight?

Gary Leland: I don't know. I don't know. You could double your money there, but I don't think you're going to get to a a hundred dollars.

Erin Gregor: You don't think it's going to get to 50 cents.

Gary Leland: Okay. I'm not a financial advisor. I don't know.

Has it ever been at 50 cents? I mean, it's been out a long, long, long time. It's not a brand new point that we can't look back at the history five years. What was its highest? It was going to be, it it'd be 2017 would be its highest probably. Yeah. I don't know where its highest was. I can't see. I can't read it.

It's on the side, but that's the, that's the problem? I think with Dodge coin is the fact that there's no cap on Dodge coin. They can make as much Dodge coin or they not only can, it will continue to be made literally forever. You know, no, not going to be any shortage of Dodge coin. Yeah.

Erin Gregor: Maybe I'll see if I can get it up to $60 and I'll sell and take my $10.

Gary Leland: That's the way to do it. Sometimes she'll lock up on that though. A long time ago, I did XRP at 97 cents. Sold it at $3.79. And I thought it was going to go up to $5 actually. Cause they were talking about how it'd be on Coinbase .At the time. Coinbase just had Bitcoin cash on there and then Bitcoin cash went through the roof.

And then I saw an article I get up early one morning at five, I got up and there was an article from Coinbase and we're not getting ready to put XRP on here. So I sold mine and I had a buddy who had the same amount. He goes, okay, that article is BS. They're going to put it on. Yeah. He wrote it all the way down.

I think he still has it. And it's like 25 cents now or something.

Erin Gregor: Yeah, I think it was, yeah, it was like down at 12 since not too long ago.

Gary Leland: Well, I was real happy. I got out at $3.70. I got it at 97 and sold at $3.79, I think. So I was very happy, but that's when I used to do, you know, shit coins, you know, I try to throw, I don't mess with anymore at all now, but I think that's part of getting into crypto though, is you see Bitcoin went from 5 cents to $7,000 roughly now and you, Oh gosh. If I could just get this one at a 10th of a penny and a dime, you know? And  so you're always hoping that's the situation, but we've seen to me over the years, we've seen now 4,000 cryptocurrencies come out. Yeah, and still no one's been able to match, um, Bitcoin. I saw today a interesting article and I can't remember the exact numbers.

I wish I had that it had how much it would cost to attack, uh, crypto networks and the Bitcoin network. I'm thinking in my head that it would cost like a hundred thousand dollars an hour or something. It was a big number. Wow. Maybe it was a lot more than that. And then the second place was Raven coin.

Which I thought was interesting, like maybe $10,000. And then etherium at like 8,000, I'm sure those members aren't correct, but probably be approximate distances from each other or, um, so it was interesting to me that Raven coin was harder to attack than Ethereum.  Which is the second biggest coin.

And a lot of people, like if they were again, you know. So if that means anything, either just the piece of information you put in the back of your mind and maybe someday it's useful.

Erin Gregor: Well, it's good to know that it's expensive to at least go after Bitcoin.

Gary Leland: So hopefully that's the whole concept behind Bitcoin, if you decided to attack Bitcoin.

No. And the only way you can attack Bitcoin is if you control 51% of the mining power, if you control 51% of all the mining of Bitcoin, you could pretty much change. The ownership of some Bitcoin, because over 51% of the machines are gonna agree with the new rule. You know, the majority of machines have to agree, you know, they're all checking each other and go, yeah.

Yeah, this is right. So if you were to do a 51% attack, the theory is, or I think this is what Sotoshi Nakamoto said. Is that it will cost you so much by the time you gain that 51% of the mining power, that you'd be a billionaire. And if you destroyed it, you will, what would be your goal to be poor all of a sudden, because you're right in there, cause your mind so much of it and you control so much of the mining power that you're literally a billionaire.

So do you want to say, okay, I'm a billionaire now. Now let me make all these billions of dollars worth nothing and finish my goal. The thing is at that point, you're go, what the hell with ruining this? I'm a millionaire. Why do I want to ruin?

Erin Gregor: Yeah, exactly. It makes you realize how smart this guy was too.

Who did sotoshi knock Monica modem, whatever. I mean, whoever they were girl.

Gary Leland: Yeah, it was very smart. And come up with that, um, that system there, and the fact that. The harder, it gets the more machines that are mining Bitcoin. It's harder to mine. Yeah. It gets harder to mine. And the less machines that are mining, the easier it is mine.

Cause we need a block every 10 minutes. And if they're mining it at a faster rate, because there's more machines than we wouldn't be able to 10 minutes. So we can predict the having every four years. Yeah, there's a lot to this, that someone really. And it's not that long of a white paper. I mean, you know, I read it on this podcast one time.

It's not that long of a white paper, but it's a lot of good information in there.

Erin Gregor: It makes it realize he thought it through. So we're talking about new tools. Um, Some exciting stuff. I know you I've seen you posting about this. I signed up to be on the waiting list, but Fold, one of our favorite apps is coming out the Bitcoin, uh, like my kids now it's a fun game cause my husband's got it and I've got it.

So every morning they get to spin our wheel each, each other we'll to see who gets what my daughter got me a couple 10 grand. Free ones. Yeah. I've had a couple 10 matter of fact, it's probably time for me to spin my wheel. So spin it, saving it, that million dollar prize now, but they're coming out with a credit card, which I'm very excited about, which will be the rewards will be in Bitcoin.

So hopefully that's coming soon. Although I'm going to say Fold needs to up the gift card game, because I know they've kind of been hit. Like Target's been gone. Home Depot has been gone, like all these places that I really need gift cards for right now have all been gone and they kind of need to, they need to up their game up a little bit.

Gary Leland: My plan is to spin again. So I'm going for my second time here, I got a $500 set back, you know, the problem is though you're right. I got nowhere to spend that $500 and get that 500 SAS back. But there's nothing I need there. I haven't added anything new on there and I'm pretty much stocked up on Amazon cards and, you know, things like that.

So they need to up their game. But yeah, the, the, the idea of doing the stats back card credit cards is a good idea. I'm not sure if it's a credit card or a debit card though. Cause it's a visa debit. I don't know that for sure. I mean, I, I, I don't know. I think it says credit card, but I don't know that that really means credit card.

It's a visa, you know that, and I do know you get SAPs back instead of mileage rewards. I do know that, but, um, that's all I know they had did a survey though, of 30,000 of their users and the majority, like 95% said they'd switch. So, yeah.

Erin Gregor: Yeah. And I liked that a visa thing. So they can use that at Costco.

Gary Leland: Yes. I was going to say at Costco yes. But you know, the, um, cash back or the cash app. Card is a visa too. It's a debit card, but it's a visa card.

Erin Gregor: Yeah. I S I got mine. I still haven't used it. I will say after my little hoopla with cash, uh, getting everything set up, I do use it. Um, I'm following your lead, although we're not financial advisors, but I buy.

Bitcoin every single day get up. It's interesting. I've kind of every time I think I've got a little bit figured out, like not to buy right away in the morning. Sorry. My dog is barking not to buy right away in the morning and then it kind of goes down and then that whole, like, I'm like, okay, I think I'm gonna follow this.

And then that goes out the window. But anyway, I do buy every day.

Gary Leland: I have, I feel personally that if you follow Coinbase that the cash app is behind Coinbase. By a minute. I feel so you're sitting there looking at Coinbase on your computer and you poke your cash app and coin and Coinbase. Bitcoin's going down and you'll get your cash app.

You'll see it going down too, but it'll be behind, Coinbase. So then when you see it, stop and Coinbase starts taking up the cash app and keep ticking down. So to me, you can almost see if it's moving where the bottom is on it as before it goes back up, you know, but someone told me that and I didn't believe him.

I said, I think you're wrong. But then I started looking at with that in mind, and I think they were right. That it is behind that Coinbase. So, you know, if you see Coinbase go to 5,900 and you go, I'm getting ready to buy. You'll look at the cash app and it's going to be 6,000. I mean, it wouldn't be that far apart, but I mean, 5,900 and.

$12 or something. So to be a little bit apart, but they tick in the same directions, but it seems like it lags behind Coinbaes to me.

Interesting.

Erin Gregor: All right. I'll have to do that, but yeah, I've, I've been happy with, uh, with the cash app. I haven't tried to do any more of the bigger purchases of just like I said, small.

Uh, my goal right now is slow and steady wins the race. Yeah. Um, there's also a company you're involved with. I know you mentioned it a while ago and now it seems that they are actually open and ready. I try to start it to sign up for my account and then it just became too complicated and I quit. But a is sway.

Is that what it's called?

Gary Leland: Swan coin? Yes. One Bitcoin is a place where you can go in, you can sync it with your, your account, your bank account or whatever, and every, and you can say, I want you to purchase Bitcoin. You can say every day, every week, every month, whatever, every paycheck, I want you to purchase a certain amount.

And it'll automatically purchase it at whenever you choose to do it and put it in your wallet for you. So you've got it in a wallet. So it does dollar cost averaging for you without you having me keep up with it. When you out, you having to think about it. So maybe, maybe you get paid on Fridays and every Friday you want to buy $25 worth of Bitcoin.

You know, you don't want to buy a lot and you're going, Hey, I need to get a little skin in the game. It'll do it automatically. And I believe the fees are going to be, I believe they set the fees to be a little cheaper than, uh, the cash app. Um, yeah, so I'm a, I'm a. I don't know what I am with them. I own a small piece of the company and I'm an advisor for them.

Um, and then there were, we're getting ready to come out with, uh, a new thing where people can do, uh, IRAs and things like that with Bitcoin and then offer that. So something new coming out soon. So that's the next step that's going to come out.

Erin Gregor: So then as the wallet, where does the wallet reside? Do you move it then onto an external law?

Like, is it just internally on their site?

Gary Leland: Your wallet's on your phone? I believe, but you can move at all if you want. They also have, they started, this is their second project. There were other project is give the Bitcoin. I remember you talking about this. Yeah. If you wanted to give someone some Bitcoin.

If you're, you know, let's say you're someone my age and you don't know much about Bitcoin. You don't know a lot about computers, which I say that, and I'm not being rude. A lot of older people don't use computers, they just don't have a need. And so your grandson wants some Bitcoin. Well, you could go to this app on your phone and say, send to, and put an email address form.

Here's my credit card number. Send him $25 worth of Bitcoin. And it would send the Bitcoin to him. And it actually, you could send it even as a, kind of like a savings bond. It has a time lock on it. So you could say, I don't want him to spend this Bitcoin for six months or a year. I think a year is the limit maybe.

And it'll send it to him and say, you own some Bitcoin, you can spend it in a year. And you're hoping that by the time he gets it, Maybe it'll be $150, $5 that you gave him kind of like a savings bond would go up. And then every month he gets an email or she gets an email that is about Bitcoin, a short email.

That explains another feature of Bitcoin. So hopefully by the time they unlock it, they know something about Bitcoin.

Erin Gregor: And now is that up and running or is that a project there's still project

Gary Leland: That went live. One was the second project. And then, like I said to the, um, newest one will be the IRA project, but it's all run by eclipse stain.

Corey is a really smart guy and a really nice guy. And, um, he lives out in California, out in the, uh, What's that beach that everybody hangs out at where they go skate all the time in California? Yes. Yes. He lives not far in LA I guess. Yeah. So he's really nice guy though.

Erin Gregor: So how has the give Bitcoin project, like, I'm assuming it must be doing well if they keep releasing stuff.

Gary Leland: Yeah. Yeah. Um, I don't know. I don't know. I'm just, that's not my deal. I don't keep up with the day to day stuff. I just do what I'm needed to do. And when we sell out. I make some money. That's when you're going to come back into the play, the picture in all honesty, I think it's being built that when Bitcoin goes through the roof, it's, it's, they're building it to sell it.

You know, they haven't said that, but that's what I believe. And that's when that's, when I see something out of it and that's when I'll keep up with it because it's really, I just do what I'm, you know, help them however they need help. You know what I mean? No.

Erin Gregor: That's awesome. So any other Bitcoin news, of course, I'll put links to all this stuff we're talking about too.

And, um, over at Cclarifyingcrypto.com, but anything else news or anything else that we should be aware of in the, like I said, I know it's kind of a weird time. Everybody's just sitting back waiting to put their predictions.

Gary Leland: It is a weird time. I've noticed though, the Bitcoin seems to be following the Dow.

The Dow goes up, Bitcoin goes up. I've noticed that too, you know, which is a weird since Bitcoin's supposed to be a, the thing that, uh, is there to help when the Dow goes in the toilet. You know, so they, they seem to be more correlated than they should be.

Erin Gregor: I thought the st like I was very, um, unnerved when the stock market crashed in Bitcoin.

It didn't, I mean, cry, it went down, it went down significantly. And I was like, wait a minute. But this is, like you said, this is exactly what Bitcoin was created for. It's not supposed to do that. So I get, we. We've never seen it in a recession. We don't know what it's going to do. There's the predictions.

But, and I read up on that because I remember asking you about that. I'm like, but shouldn't it be in a lot of, it was, people are cash nervous, so they want cash and they want to build that. Never have shorts.

Gary Leland: So they had to get money where they could get it. Exactly exactly who are invested in Bitcoin are also invested in the market.

And a lot of them play both Bitcoins in the market. So Bitcoin, their stocks, I've got to cover the shorts and they gotta be cash wherever they can. Yeah.

Erin Gregor: Yeah. You got a lot of people out of a job now.

Gary Leland: Uh, that's telling again, people that are out of work, like we were talking earlier, some guy who's been putting his money in the Bitcoin.

He was wanting to write it to the moon and now he's got to feed his kids. You know, are you going to like, let your kids starve, or are you going to say, you know, if they're not able to work and you didn't have a lot of money and savings, you're either going to, you're either going to sell your Bitcoin or you're going to go Rob a grocery store.

Exactly, exactly. More of that, to be honest with you, I'm more of people. Breaking into grocery stores and stuff. Cause they say 95% of the population only has $400 in savings, which is equivalent to one week Paychex possibly. So if that's the case, if those numbers are correct and you've been out of work for three weeks, your kids are starting to get hungry, you know?

Erin Gregor: Well, everybody's just waiting for their stimulus checks, put in some money, just print some money and give it to them.

Gary Leland: That's really great. So the people who are the poorest don't have a bank account cause they can't get a bank account because the bank doesn't want to mess with them. And so from what I understand the rest of us, if we get any money.

That have IRS accounts hooked to our bank accounts, get our money this week, they paper checks. It could be five weeks, five months before they get a paper check. So do you really think that person's going to wait for that stimuluscheck that long? I mean, are we getting ready to see a world full of hurt? Will they sell their Bitcoin?

Yeah, they will. They got to meet your kids, you know, so we could see a drop in Bitcoin from the people who are hoddling since their work. Now they were planning on hauling, but they planned on making money with no money at all. And having maybe they got $2,000 in Bitcoin, but they have no money, you know?

So, you know, an example of how

Erin Gregor: no, but, you know, I mean, I'm so grateful. And it's just so funny cause I have siblings and we definitely don't have this mindset and we all grew up in the same house. Although I think my dad started really focusing on a last ditch effort on me, but, um, just the importance of saving and the importance of.

Delayed gratification and the importance of having that nest egg, because it's frightening to me. And, you know, I almost, I almost had to learn the hard way. I was sure. Like I was in my early twenties when the whole internet boom. Well in the, in the early two thousands. And I was in that place. I was, I mean, I was rich in my eyes.

I was like making really good money. I bought a house, I'd bought a new car. I had all this stuff. And I realized that if I got laid off at that point because the company was crumbling that I had about a month's worth of savings that I could live off of. And that was it. And so it was a very eye opening perspective for me.

I've got it. And that's when I started getting involved in real estate and just realize I've got to take care of myself. And I'm so blessed that that happened to me at such a young age. Uh, because I know that there are people like with children and, uh, with like thirties, forties, and they have nothing.

And it's just crazy to me that you lose your job. And instantly, I can't pay my rent or I can't pay that. So I can't pay that. It's like you have. No money for rent. And you've been out of a job for two weeks. Like it's just, I really hope people wake up to it because it's, it's frightening how bam jobs are lost and everybody's broke.

Gary Leland: Yeah. Well, I do have some good news. I found out today that, uh, I had been approved by the small business administration for my PPP or whatever it is. So that's good news. And the bank said they have 10 days to finish everything. So. I don't know what that means. Exactly. That doesn't sound good if they could be out of money by the time 10 days is up, but the SBA has approved me.

I've been submitted and approved, you know, so hopefully they move faster than, than that. That's good. It brings people back to work because right. It's really, I mean, I'm getting free money, you know, so I can actually, I'm even making money off the money from what I can figure. So I could actually have come here and watch TV.

And you know, is better than having it home. I mean, I don't have any work, really for them since retail stores are closed, but it's not costing me something. So I'll have a menial task and have them go online and edit Facebook pages. Well, I was just going to say like there's stuff online that you can have them do, right.

To help you. Yeah. Yeah. That's. Yeah. I mean, I can find menial tasks. I mean, you know, and that take a new, you know, we don't want to write a book. Maybe I'll have one start writing the book for me, tell them what to write, you know, this and I'll figure out something, but I can't bring them back to work and they can make money.

And that's the main thing and I will get something accomplished. So I'm just glad that the defined that that's going to happen and just hope that they don't spend 10 days from a approval date to get me a, the money. Right. Even that money though. Do you know anyone? Who's got it?

Erin Gregor: No. Um, I do know one person and she went through a small bank out, out in st.

Louis. I saw her get it. Yeah. So it seems to small banks like Wells Fargo, shut it down already. They had such huge demand that if you didn't apply through Wells Fargo, as far as I know, I see they're needing to print more money cause there's been such a demand for this.

Gary Leland: Well, sure. Who's not going to want it.

Oh my God. Exactly. Who's not gonna want free money. And I think we've applied for some other kind of loan. That's like almost no interest. Then I got like 30 years to pay it back. I'm going, first of all, I'll be dead before I have to pay it back. And I think in five years that that interest rate people are going, I can't believe you didn't take that.

You were an idiot. Yeah. So we were applying for that too. I think we got a notice today that they're going to dish out. Like they have such a demand for it. They're going to start dishing out money. The email said like 10,000 of it right away to people. Yeah, that that applied for big amounts. So I'm not sure what the deal is on that.

And when you can find out yeah, they're going to be printing this stuff for a long time. Right with money, we've seen printed as nothing. And all of that is what is supposedly going to help the one Bitcoin be worth the retirement thing.

Erin Gregor: So keep printing United States of America and, well, we're just gonna keep collecting our, uh, our Bitcoin.

So any other parting words we always got to ask? A Bit Block Boom, we can see the set. Well, this won't be a video, but boom, we are still good for August. Right progress.

Gary Leland: I still think this is going to be done by August. Trump is wanting to like get people back to work next week, you know, so trying to get, I, don't not saying he's gone, but if they're feeling that optimistic, you know, we gotta be talking into May.

This is going to be over. You know, I would think fingers crossed, but, um, hopefully I just can't believe this. It would still be going on in August, you know?

And they can use cousins, uh, for 30%. All right. So that's in August. So going for August, we're still good. And of course you will, we've talked about this before. Tickets will get refunded if somehow the coronavirus is still around. Uh, and then, um, and then Four Minute Crypto definitely follow you on core Four Minute Crypto for five days a week posting about one news article in four minutes or less.

It can't be easier. All right. All right, Gary, as always, thank you so much. Hey, I enjoyed it. I always do. All right. Well, we'll talk soon. Alright.