Confronting Andrei Jikh | Can Bitcoin Reach $1 Million

welcome back to the 41st ever episode of the iced coffee hour my name is andrej and i have my two guests here graham stefan and jack hi how you guys doing how are you here hey i got one question for you hey how much have we made on the podcast so far you guys made forty thousand five hundred fifteen dollars and 54 cents fantastic yeah cool that was a great introduction thanks so much for coming on andre hello you should your go-to line now is wow wow amazing interest one we've had but do it like dogecoin style much wow well welcome no for those that don't know you andre thank you you have a youtube channel you have it you're you're the las vegas gram right you have another personal finance channel on youtube way to insult your guests 1.2 3 million subscribers 1.3 congratulations and growing at a rapid rate as well it is rapid the rate is rapid is yeah very rapid uh what are we talking about here we're gonna talk crypto today okay we're gonna talk crypto we're gonna talk a whole bunch of personal finance and investing stuff and then we're gonna be talking about us hiring someone new to come join on the team i will not be applying you don't want you don't want the job you don't want the job man no i'll apply all right but uh yeah so welcome thank you thank you for having me yeah we were talking about ad revenue are we comparing yeah what's your to date revenue my to date one gosh do you want to like how do i send you a screenshot or you just want to yeah just take a screenshot sure um i'll send it to you but really quick you guys we have to thank backblaze for sponsoring this episode in this world we really only need four things to survive food water oxygen and access to data graham and i collaborate to produce seven videos a week we have more than 20 sd cards four cameras and files flying all over the place with so many moving parts there's a ton of potential for complications which is really costly when you're in business one time we lost an entire video that we were going to post due to not backing up footage fortunately backblaze exists for this exact reason backblaze is an amazing service that allows for unlimited computer backup for 30 days and is only six dollars a month you can back up any digital data from the newest millennial money video to uncle phil's family vacation photo album it's the cloud you have access to these files anywhere you have the internet is 30 days not long enough for you for an extra two dollars a month you can increase your retention history to a whole year visit backblaze.com iced coffee for a free trial be sure to use that link backblaze.com iced coffee so they know where you came from and to continue to support the show once again that is backblaze.com iced coffee protect yourself today thank you backblaze and back to the podcast but i think today i'm going to officially break a million i'm right today today i'm at 997 000 set three hundred ninety four dollars and fifty nine cents but i've been averaging six to seven thousand a day on rad revenue holy crap congratulations thanks man this calls for a celebration that's a big milestone that's huge to say you made a million dollars in youtube and ad revenue that's insane right wow yeah but now here's the kicker is that i bet most of that was in the last year right 100 yeah yeah because well let's see my 2020 oh man this doesn't give me a breakdown for the years but yeah like my january was 104 000 my february so far is 90 000. so i guess yeah congratulations thank you the irs has entered the chat i love really why we're doing this graham's an insider agent it's it's so funny because every time i post about my income yeah every single time so it's like the irs or or they say california has just entered the chat well i don't even know how california is letting you leave we'll see i guess we'll find out i've legitimately leaved i've changed i've leave [Laughter] anyway congratulations thank you that's really exciting yeah what are you at right now on ad revenue yeah i think three something jesus it's uh it's been wild so you've been on youtube since 2017 or six years technically 2016 yeah because it started it was the day after christmas so december 26th is the first day i started realistically with 2017. uh yeah like january uh it was lifetime wow three million seven hundred and forty five thousand six hundred and ninety seven dollars and thirty did you still check that at all graham what do you mean the lifetime revenue uh check it no rarely i like to see the graph going up over time and uh as long as as long as it's doing that don't say yes it's just going up i know i'm on the right track so anyway yeah crazy like that i can't believe this is real like just sitting here and being able to say that out loud like i know people watching this are probably so desensitized to this because everybody on the internet's a millionaire but i don't take that for granted like this is crazy just to be able to like sit here and do videos and like that's crazy work without a boss like that what yeah that's insane that's incredible it's probably because you still live a really modest life yeah it hasn't really settled in yet no i don't think it will because i don't think i'll ever like live a crazy life how long have you been in your current place for in the one i'm renting yeah five years five years a little over five what's your rent your rent's like 1500 a month right 1400 split between three people so 450 for each of us wow and so you've kept the same 450 a month apartment yeah four five five years five years yeah wow yeah so i've been saving a lot of money which is great uh because there's a foreshadowing but anyway wow we'll have to see what that is but you've been investing a lot of the money lately in crypto i have yeah got you into crypto um what's your total portfolio right now you gotta be like seven hundred dollars what's your principal and what's the amount of profit yeah i'll show you so i know my principal is around a hundred thousand dollars so i'm gonna open up my block fica so i buy my crypto off of gemini but i know coinbase is like equally as good right so if people are using coinbase that one works too they're honestly both great um i wouldn't buy it on like robinhood because robinhood and all those free brokerages they don't let you take your coins off so which which means you're kind of buying a derivative you're buying a promise from them which is not what you want to do because the whole idea of crypto is that you have sovereignty over your money and so by using these more expensive crypto brokerages like a gemini or like a coin base you have the option to remove it and go somewhere else which is you want that freedom so i use block fi um you could go to block five dot com forward slash andre you'll get up to 250 worth of free bitcoin anyway how do i get 250 worth of freebie how much do i have what's the average yeah you've got to deposit i don't know what actually the amount is to get up to 250. it's got to be like 100 is it i don't know i don't think it's that high yeah a lot of those bank sign-up bonuses that i get like get up to a thousand dollars on us yeah look at it deposit a million deposits it's like that was clickbait like don't put that in the headline like how many people are really looking at an email okay 688 yes 688 thousand 740 so six almost seven thousand in interest paid out so i think the average interest rate between because like after a certain amount of bitcoin i think like after one or two maybe three the interest rate drops and i'm guessing that they're not going to have this kind of 8.6 interest rate forever it's as they mature i'm sure it'll you know lower but it's 8.6 on usdc which is the stable coin one for one um and yeah eight point six percent interest but i'm making like fifteen hundred dollars a month on interest alone three times your rent yeah three well three times my rent yeah which is crazy right so like yeah i mean if you're going to keep your crypto online you should never keep it online unless you're getting compensated for it that's like the biggest tip um because like most people that buy crypto they always hold it on the brokerage they bought you know because like getting into the cold storage stuff is like we could talk about it but it's so complicated people are just like ah whatever i'll keep it on coinbase or robinhood or wherever and what sucks is like they're taking the risk because if those brokers just get hacked your coins are gone and you can like you hope that that company will give you your money back but in the case that it doesn't that would suck so if you're going to take that risk you should be getting paid interest you might as well unless you don't want to take the risk then you should take it you know offline to like cold storage i use like the ledger nano but i know there's a ton of companies out there what do you think the likelihood is though that one of those brokerages gets hacked i would imagine that would be like i feel like it's inevitable for coinbase to get hacked let's say that's got to be a huge thing and you know if there's a hack they're not just taking like a million dollars and also is there any insurance on coin bases yeah they're all insured for sure i don't know like what what's up by what it's not like lloyd bank or something i'm not sure which which entrance they use but it's insured probably up to maybe more than 100 million dollars i know all of them that's like pretty much at minimum um they use a lot of insurance but even at 100 billion that's kind of a drop in the bucket right when their custody's billions of dollars i'm almost thinking that if there is a hack let's say if coinbase someone's going in and taking everything yeah so like that would completely crash the crypto market if a coin base was to get hacked it probably would because of the fear which kind of sucks because that doesn't mean the blockchain is hacked it just means that company was same thing that happened to mount gox remember yeah yeah if you guys remember or don't remember it yeah mount gox was basically this website that was a front for magic the gathering originally and so the ceo mark carpolis the guy who originally owned it he was a magic the gathering guy and then somehow they like converted their website to a bitcoin custodial like brokerage service and because they didn't have their security right because they were like a you know trading card website they got hacked and that was like probably like the biggest scandal in all of bitcoin was was that and how much did that affect the price of bitcoin oh it crashed it it crashed like 90 percent right yeah how long ago was that i think 2012 yeah yeah something like that yeah somewhere around there and i don't know if that thing has been resolved yet i think people are still waiting to get pa to get their money back but they will but would they get the money back no it was worth nothing then no it won't they won't they won't i don't think they will i don't think they're going to get their millions of dollars back because people have thousands of bitcoins that's not going to happen they would pay out what it was worth back then most likely which was like i don't know what it was yeah then it was like 300 bucks yeah sure because they probably would have held like today 100 or at least until it appreciated quite a bit for sure yeah no it's crazy but but speaking of those 90 crashes i don't think we'll we'll see one anytime soon right because like how much money has entered the crypto sphere now we're almost at a trillion dollar market cap so for crypto whales like we've had before to like influence the price 90 is gonna take so much money you're gonna have like companies from the s p 500 that need to collude together to manipulate the price to the extent that it used to be manipulated when it was like a 100 billion dollar market cap so i don't think we'll see that again but it's a possibility so i'm not writing it off but we could crash again but it seems like at this point in time the support level is like 30 000 but it's bitcoin so who knows it could go down to 15 000 include 10 000 tomorrow we don't know we don't know what's the catalyst but that's the downside the upside though is there's so many catalysts still like today i made a video about you know apple entering the crypto sphere mastercard venmo like it's crazy what's going on miami became the first municipality of the first city that started integrating bitcoin into its city so now people are going to be able to pay their city fines and taxes with bitcoin and they'll be able to get a portion of their salary be paid out in bitcoin too my understanding though bitcoin is horrible in terms of moving it from one person to another yeah as as a currency it's not there yet because of what's called the scaling issue so i want to talk about that we did a really complicated thing you explain it yeah so here's the thing with bitcoin and i'm not i'm not i'm just going to preface this with saying like i'm not the best person to explain it so just explain it in the way that i understand it but basically with bitcoin um there's kind of like a bottleneck meaning that if you and i are going to use bitcoin the way that it works is like there is these blocks right and they're one megabyte inside so you can kind of think of like a rubik's cube and inside this rubik's cube are coins or transactions so anytime i send you a bitcoin or you send me a bitcoin those transactions get sent to this block now this rubik's cube needs to be solved in order to have these rewards be distributed amongst the people who are solving them so those are the miners they use their computing power to basically solve these blocks and then get rewarded for doing so that's the incentive so the other analogy to this are these these miners are also like bus drivers so every 10 minutes this bus arrives to take their transactions and they go and that means that once this block is confirmed or solved our transactions get confirmed right that's the way it works are you with me so far jack does not look like i don't understand what do you mean the transactions get confirmed it's just when the bus leaves right yes so what i mean by that is this okay i got it yeah oh no no so what it means is this so whenever we use something like visa or whatever mastercard our transactions are confirmed instantaneously on the back end they don't they're it's a little bit more complicated but to us the users it's confirmed instantaneously that makes it a good currency quote unquote like a good system to transact because it's instantaneous right whereas bitcoin you have to wait at on average 10 minutes for your transaction to be confirmed which sucks because if i'm shopping for something and if i'm whatever scanning my debit card i can't wait for 10 minutes for the merchant to be like okay cool transactions is through here's the product that's that's doesn't work so that's the scaling problem it's like how do we scale bitcoin to include more transactions to be confirmed quicker aka and this analogy the how do we get more buses to arrive quicker and not every 10 minutes you can't that was how bitcoin was designed it was designed to be specifically that way so it means it's slow and clunky and expensive because the more popular bitcoin becomes the more the price goes up then it means the more people are competing so if you think about the bus analogy you think of the bus stop that's called the mempool so the bus stop has its own name that's the mempool anytime we send transactions to each other our transactions get first sent to the mempool which is the bus stop anytime this bus arrives think of it like we have to bid against one another to be included on the bus so we compete by sending with our transactions a minor fee it's not free to just get your transaction included in the block you have to pay a fee the fee is nominal it's very small right but the more expensive bitcoin becomes the more you are paying and the more people are using bitcoin the more popular it becomes it becomes outrageously expensive to the point where if i want to send you a dollar i have to bribe the bus driver a hundred dollars to get included in the transaction which sucks like that's i don't want to send a dollar and spend a hundred dollars just to do that so that's where we hit the wall of the scaling solution or the scaling problem but first we have to thank our amazing sponsor vessy guys vessies are absolutely amazing they are literally all graham and i wear now for a multitude of reasons first off they're incredibly comfortable not only can i wear them for long walks outside but i actually use them as slippers too i just fold the back down and boom now i'm ready to relax second off they're actually waterproof not just resistant i know for a fact i can count on my vessies to keep my feet dry in any given circumstance finally my vessies are super cool and stylish i feel confident wearing my vessies to any occasion i can dress up dress down or just dress casual it's an all-in-one shoe another thing that i love about my vessies is that they are super cost effective because shoes wear out so quickly the average person spends 419 dollars per year on footwear we of course know that's outrageous and with vessy's all you need is one pair and that will easily last you a year and for every occasion you can cut your footwear bill down drastically and save some money on the side for some lucrative dogecoin investments so please guys visit vessie.com iced coffee and get 25 off your pair of vessies trust me you will love these things support this podcast by visiting vessie.com iced coffee or use code iced coffee at checkout once again 25 off your pair of shoes thank you so much vessy for sponsoring this episode and back to the podcast i noticed that when i was buying bitcoin on coinbase the fees were outrageous like it was a lot that's when you do a market order you never do them are we doing market orders no it has nothing to do with marketing base they have their own like back end system which um i forget what coin basis it's called playbase wasn't bad at all each of these big brokerages they have like their back end systems which so what we see in the front end are like the market whatever you could place a limit order on them too but you're still going to pay the fees if you want to pay less fees you have to use their like pro software which i think is free yeah that's what i do i have points as well but they also no i don't know if they still have fees they do they do it's a lot more flexible but that's not the problem the problem is not the software the problem is when bitcoin is really popular even that software you're still going to be paying insane amounts of money but the catch with bitcoin is you don't have to attach a fee to the transaction so if you don't want to pay the bus driver you will eventually be included on the bus provided that there's not that many people in the mempool waiting to get included as well because like what could happen is you could send a transaction not pay a fee but then get included like a week later or a month later like imagine you bought something and you're like waiting for a month so so that that problem has been with bitcoin since the beginning of time and bitcoin has forked which is like where it's split and people have different like protocols and different solutions for their vision of what bitcoin should be of how it can scale which is why you hear all the time people are like cardano's better ethereum's better whatever's better is because it's it's a better form of currency because it's confirmed quicker or whatever it is so why are people trying to use bitcoin as a currency what would be the purpose of accepting taxes in bitcoin besides just the hype of this being like we need to pay taxes with bitcoin right yeah there isn't any if you're if not like if you're not like a money nerd it doesn't make any sense to which is why i believe in 2017 bitcoin finally kind of figured out the narrative of what it was meant to be because for the longest time the crypto community had a war like an internal war with each other one side of people wanted it to be a currency and the other side wanted to be a store of value and so for the first time in 2017 that's when i like really saw the crypto sphere like take off in 2017 was bitcoin split into two it was bitcoin core at the time i believe it was just bitcoin and bitcoin cash i don't know if you've heard of bitcoin cash you've heard of that one and that was the first like original fork that's split and its ethos was let's use bitcoin as a currency so the difference between those two and this is something most people don't even like they don't know they don't go that far in the research is that bitcoin cash has a different scaling solution so so here's so now you've understood the problem right hopefully like you understand it's slow it's clunky there's two main solutions to this problem that people are doing it's either scale on chain on the blockchain or scale off chain off the block chain so there's these are the two differences on chain means let's change the base protocol of what bitcoin was meant to be so let's change the block size from one megabyte to i don't know 10 megabytes right that way we can have more people be included in the bus because the bus you're just literally increasing the bus size you're like now we can fit more people in so now it becomes cheaper to get on um and the problem that those guys encountered from the other half of the bitcoin community is like you can't download the way that bitcoin works is like this is public ledger right so in order for you to download this public ledger it has to be small enough to download but if the blocks get too big and there's too many transactions the history of the whole blockchain becomes so large you literally need to become a corporation just to be able to handle the size to download it to verify it for yourself does that make sense so like it becomes impossible for the individual who lives in a basement or wherever to like participate in the network so that got a lot of pushback so bitcoin cash split off and their solution was to scale on the blockchain their argument against it was we have moore's law right so every how many years two years the technology capacity like doubles like computers get better every i think it was two years and maybe i'm wrong and so they're saying like if we look back like sd cards that were like five megabyte were like 300 10 years ago but now that we have more space it's cheaper eventually we'll catch up and it's not a huge deal so they split up and that's what happened the bitcoin main bitcoin that we see now that's 50 000 roughly is is going to eventually scale what's called off chain so not on chain but off chain uh with systems called lightning or liquid there's like different protocols of doing it and we can go into that if you want too this is complicated but it gets insanely into the weeds i do just want to note one thing really quickly one of the reasons why a lot of businesses do want to accept bitcoin is because sometimes it's difficult to be accepted by payment processors and oh and that's why they use it on like the the dark web and stuff like that is because you can't get approved by stripe or by you know those types of guys so you just send a bitcoin wallet that makes sense so if you saw today apple um started integrating it with bitpay if you i don't know if you guys are familiar with bitpay bitpay uses i believe the mastercard network so bitpay was a company that's kind of like the middleman they have their own debit card so you get a debit card you can load your bitcoin onto that and then anywhere that accepts bitpay you can pay using your bitcoin but is that instantaneous it's instantaneous okay because they're kind of the middlemen that facilitate the whole transaction so they take on the risk and they convert everything on the fly so they provide the liquidity but the problem is is like very few stores actually accept bitpay like it was like what the hell's bitcoin right nobody's heard of that so apple finally teamed up with bitpay or i don't know to like to what degree they teamed up but now you can put your bid pay debit cards on to apple pay which means that you can now actually spend your bitcoin anywhere apple pay is accepted i just feel like that would create a tax nightmare to go and like buy let's say a car with bitcoin and then you have to figure out what's going to be the capital gains on that and then you're going to have to pay taxes on an asset that you were holding yeah that used to be a huge problem a couple years ago it's not anymore there's like automated tax websites where you can just give what's like custodial permission to look at your balances like your buys and your cells and they calculate all of that stuff for you and you just get a print out and you can give it to your tax person wouldn't that be complicated let's say i'm dollar cost to averaging like every week yeah over years right wouldn't that just be just a lot of calculating to do on that for your taxes if you do it manually maybe but why would you do it manually you could just go to those websites and they plug it in everything for you it's automatic yeah it's amazing i use it yeah so i'm going to use it this year maybe i'll make a video about it at some point but it in theory it's really easy you just i gave it permission and now it tracks all of my buys all of my sales so it gives me the net you know whatever it is my net profit and then i give it to my tax person and then calculate it uh how did you get into crypto oh i bought a drone i bought a drone for like i i actually found bitcoin in 2012. i was like dude this stuff is so cool it's a hundred dollars but it's going to multiply to 200. what made you think it was going to multiply to 300 because i read about it there's like people that are like becoming millionaires because they put in some stupid amount of money and i was like i want to do that that's the same thing with the stock market yeah for sure yeah but it was like the new hot kid on the block it was like what is bitcoin sure were you talking about it with your friends and stuff like that was just self-discovery i was but at the time you couldn't buy it from like the traditional places that you could today and you couldn't hold it anywhere you couldn't store it anywhere so i like the technolo that technology was so far behind that i was like how do you i don't get this stuff so i i ignored it until 2014 when coinbase became a thing i bought it there held on to it for like a year and i was like man it's not multiplying [Music] so i i bought in at 600 a coin i spent like a couple grand yeah and then i sold it for i bought a drone i was like i want to buy a drone the dji like phantom 3 was at the time good job i was like dude there's such a sick drone i was like i don't want to spend money i was like oh i had that one bitcoin thing it's like collecting dust my three thousand dollar investment was fifteen hundred dollars and i was like you know what i just wanna get rid of it so i got rid of it i bought the drone for fifteen hundred dollars three bit six bitcoin that i spent basically and yeah those six bitcoin today would be worth three hundred grand on a drone that cost a thousand dollars let me guess as soon as you bought the drone bitcoin just turned around that was the jack symptom [Laughter] the jack symptom is every time jack buys a stock it goes down immediately afterwards and so jack and i are sitting next to each other and jack looks over at my computer he's like oh graham you're buying a stock and i'm like yeah and i turn my computer away because i know it's going to go down as soon as he buys it it's like well i'm going to buy it too i'm like no don't buy in because as soon as you do it's going to go down in price he's like no i'm going to blow i'm going to buy in and we're literally looking at the chart and it starts ticking down it's just like as i'm like hovering over the buy button this stock is just going down i imagine there's like somebody behind the scenes who's looking and they're like all right jack's buying all right like yeah he's getting close yeah oh all right he's sold he sold it safely you know what's funny is that he's like all right i'm not gonna buy it and he takes his phone and puts it down and you start going back up immediately afterwards and then and then i buy and it keeps going up and then and then you were trying to actually hide from me yeah i'm not kidding i was like did you just buy because i was sitting next to him when i saw him like in this brokerage or whatever i was like did you just probably like no no no i didn't buy i didn't buy and i like look over and i see that he bought so he just lied to me and then i buy it and it goes down and i lost a lot of money and now i've realized the loss of like eight hundred dollars was the moment he bought it started going down like the second like that's not coincidence so just do the opposite of what jack does always and yes basically do really well yeah so yeah yeah so that's why now if i buy something i just don't tell jack yeah don't ever tell people yeah nobody don't communicate with jack about investing ever i've been having a lot of fun though watching the price of bitcoin crazy how much has your initial investment appreciated uh so i originally got in i think it was like one because i dollar cost average i think total i invest like 115 and i think that's like 160 something wow and that's in like a month and a half that's crazy and i bought in i think somewhat high like i was buying in at basically the peak of a month and i remember yeah and that was in the low 30s and then ethereum was 1100 bucks like 11 11.50 and i remember too it goes to show you like sometimes the little details don't matter but i had like i think it was like 10 grand i want to put in ethereum and so i put my limited order in at like 11 85 or something like that it was straight at like 12. okay and i'm sitting there for like 20 minutes and it doesn't hit it goes like you know it's just like a few dollars away and i'm sitting there like wasting yeah all this time just like it's not gonna hit it's not gonna hit it doesn't hit i'm like ah screw it should i leave it no you know what i'm just gonna buy it at the price so i paid the market price yeah 1200 bucks uh that's what happened to me with apple yeah i did a video like my dividend video and i was like cool i'm gonna set a limit order for apple i put i put in like ten thousand dollars at a just a dollar below like actually at the market price that day the next day i'm like yeah it'll it'll trigger it never did yeah you know bit like apples last like two weeks ago oh yeah i feel so like yeah frustrated about that but but the bitcoin thing it's crazy because that drone that's that like what happened then is what taught me to like look closer because whenever we talk about bitcoin everyone's like ah they like roll their eyes like oh yeah tell me more about how your friend made millions of dollars of bitcoin we don't care you know but it's like once this stuff happens you start to like look into it deeper you're like what is it really like why does it have value like i don't get it like what is it and that scenario with the drone really what like triggered me to learn about the monetary system and like how deep the rabbit hole goes and you and once you get like what it is then you're like i'm never gonna like sell this wow that's a convincing argument it becomes so different once you look beyond the price action which i think is what you had a lot of trouble with the beginning because you kind of dismissed it as like this like just price like i don't say like ponzi but like okay cool it's a beanie baby like okay yeah you're gonna make millions but it's gonna crash it's stupid because i like that we all think that like because you look at the price action and it doesn't make any sense but if you take the time to learn why it has value um then it just changes the game hey graham i don't mean to change the subject but have you heard of privacy.com of course man how could i not well right but i'm worried that some of our viewers haven't heard about this well we gotta fix this right now give it to him jack how about this you guys i'll make a bet with you if you aren't already using this product i bet you've never heard of it because there is literally no reason why you shouldn't be using privacy.com like everyone i need to pay for things and i'm uncomfortable with the idea that so many people have access to my credit card information luckily privacy.com solves this 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buying since 2014 is like you need to just sell what you invested right because the rest is play money so if you lose it who cares but now it's like i'm just terrified that a catalyst is around the corner we're going to get like a bitcoin etf and i'm just like like or i'm like maybe i can sell bitcoin or like now that elon's gone why would you sell it why would i say you don't need the money right now no you don't need it that's true but i'm just saying unless you need the money don't sell for sure for sure i'm just saying like for the principal value of it like the principal equity just just to sell it and be like cool like i made my money oh you're gonna have the principal value anyway unless it crashes 90 you're still going to have it no matter what there's no point in selling that's what i was thinking about but i'm like oh i really want to buy a tesla and i put it on my instagram i was like if elon ever starts accepting bitcoin i'm totally going to buy a tesla would you actually no i thought about i'm like i'm not about to give up an appreciating asset for a depreciating one like that isn't it i don't understand why a lot of like businesses are accepting bitcoin as point when it's so volatile hype it's not because of hype it's because everybody like just it's that hedge fund money problem where it's like imagine being the hedge fund that's like you know you're making money for your customers and they're like hey this year you made 10 for us how come like kathy wood made 300 what are you gonna say like you're a hedge fund manager you're like uh uh because i don't have bitcoin in my portfolio you know they have to have a solution for bitcoin like what is our bitcoin strategy is like a phrase that's like you need a you need a an answer to it and so it's like it forces everybody to enter not even for the hype of it but when your customer asks you what is like what's our game plan you got to be able to say well we got one percent exposure or whatever like we accept it if you want it you need to have these bridges built if you don't customers leave and go somewhere else where they are but do they just sell the bitcoin as soon as they receive it as payment no some do some don't um i don't know i feel like it's so inefficient to charge for bitcoin like if i'm a grocery store i'm saying i accept bitcoin just because i know that maybe one customer out of a thousand might actually pay with bitcoin but it gets more attention like oh look at the grocery store that accepted bitcoin yeah i see right now it cannot exist as a currency because of the volatility right but that's the function of good money right now good money which is bitcoin is sucking up like the vacuum the dyson sphere ah stupid reference if you watch the logan paul thing but anyway it's sucking up all the bad money all the fiat money that's in the world it's like it's like a vacuum and it's sucking everything up which is why it's so volatile so you don't want to use good money to pay for things right now you want to use the bad money and you want to save and hoard at the good money which is why most of the people who have held bitcoin have held it on for like years and they haven't moved it does that make sense that's what i think is going to happen at some point it's going to be such a collector sort of deal where just people are not going to want to let go of them no what's going to happen is this what's going to happen is after all this bad money like all this good money is sucked up by bitcoin as the market cap increases this the the price of bitcoin will stabilize yes so this these these 90 50 fluctuations are not gonna be a thing like a three percent five percent fluctuations can be like oh my god bitcoin crash you know like the s p 500 if there's like a three percent drop in the s p people like uh recession you know that that's how it works but once it stabilizes then we'll start to use it eventually it was more stable than the stock market through like april may and june yeah it was crazy it was super stable is it like ninety one hundred dollars maybe plus or minus a hundred percent for months for a while yeah yeah but yeah so so with the bitcoin like main btc the ticker symbol that is at 50 000 the bit that bitcoin not like bitcoin cash that one is gonna start scaling with something called the lightning network which like in a nutshell i'll try to explain it like super simply but it's basically like think of like if gold is bitcoin remember back in that history would transact with gold but gold is heavy it like sucked right like nobody wanted to use it because it's hard to divide people would steal it so think of bitcoin as gold it's like the base layer one it's impractical it's heavy it's expensive so we created in this analogy a layer two and layer two was fiat money right so we attached a piece of paper and denominated it in gold that was base layer so you're with me so far two layers so that's what we used and so these pieces of paper were way more efficient so you and i can transact with these pieces of paper infinitely and then when we were ready we could settle on layer one so we would be like all right cool the net transaction effect of all the things we did it equals this let's go get our gold and then we would divide accordingly that's what's going to happen with bitcoin so we'll have lightning network basically where you and i can transact on this second layer infinitely instantaneously cheaply and when we're ready that transaction the net result of all the transactions are going to get settled and then they get sent to layer one on the blockchain and that's when we resolve the transactions does that make sense i've heard that was gonna happen for years that's gonna yeah it's been in the works for a long time because it's a very complicated system to build um but that's one of the solutions building it it's the core team from bitcoin bitcoin core yeah okay that kind of sounds like robin hood trading bitcoin and it's exactly what it is yeah it's derivatives that's right which is one of the criticisms that the bitcoin cash team had their criticism was you're literally recreating the current financial system because who's to say that we can't just print an infinite amount of currency on the lightning network right you have literally that's true gotten rid of all the fundamentals of bitcoin because you're no longer using that tech you are using another layer that is not even connected to bitcoin just like we did with cash because we got rid of base layer one we got rid of gold and now it's a free-for-all we're printing infinitely who cares that's what people are afraid is going to happen to bitcoin eventually that's a great point yeah is yeah we'll go to layer two cool but then who owns that who controls that who prints that like that's are you worried about the government stepping in at some point not at all why because they can't do anything about it what are they gonna do ban it to what extent say that you can't it's illegal they they do they pull like a china they say you know what you're not allowed to do this we're gonna block websites that uh that promote the buying or selling or trading of these currencies it's it's going to be fraud you know impersonating the dollar right and they're going to criminally charge people right or like distributing a certain amount right i think if they did that there'd be like chaos in the streets personally but let's just say they got away with it somehow banned it the price would definitely drop substantially but the truth is where the us cripples it switzerland or any other country that wants the us's business would double down and be like well these guys are idiots if they're gonna get rid of like bitcoin and all that business come on in welcome so like the the way the world works is like countries don't just all unanimously agree to ban something countries compete against each other so they'll never unanimously say let's get rid of bitcoin does that make sense like easy example russia and the us they hate each other where the u.s wants to something russia will say great come on come on in we'll accept you but i don't think the u.s will ever ban bitcoin because of the opportunities that they lose i think our government is not very smart but they're smart enough to know not to get rid of opportunities like that so do you think they would just create their own stablecoin so that's what like people say is like are you afraid that banks will create their own and it's hilarious because i remember we talked to vlad tennef the robin hood ceo and we're like well if do you think that that crypto's the solution to robin hood like we need to decentralize brokerage and vlad was like no we don't need it and i was talking to him too i was like we really don't that's not the like i'm the biggest crypto bull ever but i don't even think that's the solution the technology is not the problem because what crypto solves honestly is security and sovereignty that's what it solves um and that that's not the solution that necessarily we need in this case with brokerages or with like i don't know banks creating their own because the way that blockchain works is it's very inefficient we are doing like it's like a root what do you call those gold rubric gold machines oh rube goldberg goldberg machines there we go it's like a rube goldberg machine to accomplish something you can do instantaneously if you just had a database a personal privatized database which is what banks are so it doesn't make any sense for banks to do blockchain they're trying to for the hype of it but they understand that it's meaningless because the whole point of blockchain is to decentralize it so to have a private entity decentralize something that is centralized makes zero sense because they have a rube goldberg just to do it it's like hey we're gonna do something inefficient to do what we already do but worse for literally no benefit to anybody got it so they will not create it in any like realistic capacity but what we will see that's crazy cool if we do was like libra from facebook people were like i don't want my own life facebook money i don't want that we do want that actually we would love that you know why because if facebook creates libra then tesla creates its own thing then apple creates its own thing and for the first time in human history we can have a currency that's competing on a capital market like for the first time money can compete and it's never been able to compete our governments have said this is the money you're going to use it's called fiat which means to rule by decree so it's like for the first time we have the chance like any product computers compete cars compete and we get the best products in the world because companies can compete against each other and give us the best result imagine yeah but what would be the advantage that seems horribly inefficient it would be like having so many different currencies like 10 different currencies in my wallet like all right the end result that i'm talking about isn't that i want like tesla coin and apple coin that like you're right that would suck that's not the point that the point is that once there's a lot of these currencies out there in the market they're because they're digital they act as bridges between the crypto world and our world right now that's all they are they're like temp bridges so if we make it easy for people to on and off ramp from our fiat system to the digital currency system that's what makes crypto that much easier and more accessible seems like it would be more of a hassle though to get like libra that i could spend on facebook or tesla coin i spent a tesla that just seems like a bigger obligation i'd rather just stick with the dollar sure and you can but there's lots of countries in this world that are run by corrupt governments who print money away and now they can't save money we could say that because we live in a first world country where we can have a savings but these other countries they can never be i guess brought up to the first world because they're not competing on first world terms they're competing in their own corrupt government so if i'm in venezuela and i'm trying to save money well tomorrow my government printed so much money that literally everything i saved is worth half now so i'll never be a first world country because i'm beholden to that so these benefits aren't necessarily to us the first world does that make sense kind of then why wouldn't you just go to bitcoin and create the lightning network or something equivalent to paper money over top of it yeah it gets so complicated like people are we're all just trying to see like what works from you know like let's make it more efficient create another layer let's create different coins but the point is is that we're entering this phase where like we're on the precipice of democratizing money with tech which is like never happened before everything we've created from this lamp to these cameras this couch that companies compete with each other to give us the best product if we gave that opportunity for money to happen what would we get and so far we think it's going to be bitcoin that's going to be like you know the thing so how high can it go how much things money am i the only reason i'm watching this is how high people just want to know what price can they sell at yeah there's this famous like hilarious funny quote from the matrix have you seen it i've seen the matrix i've seen the matrix remember um morpheus i remember what's the quote yeah okay so morpheus is like uh or neo's like wait what are you saying if i'm the one i can dodge bullets and then morpheus is like no neo what i'm saying is when you're ready you won't have to and it's like this hilarious meme in bitcoin and the whole point is like oh i could sell and become a millionaire and buy my lambos like no dude when bitcoin is ready you won't have to sell it that's the whole point huh you don't have to sell it you use it [Laughter] geez that's why you're buying it you're not there to use it yet it's accumulating it's building it's creating and while we're doing that yes the price is going up and some people don't get it and they're like selling it trying to become rich with it but the point is not to sell it for the dollar the point is to get it to a point where we're using it behind the scenes and it like so why aren't you investing more i want to what's holding you back uh things that i bought taxes taxes yeah yeah too actually remember last time i was on i had like yeah you said you were nervous you could be not a millionaire due to taxes yeah i remember that you had a million dollars in cash i did i was hounding you to invest it back then yeah and i was giving you crap because you have more cash than me yes but it's a smaller percent smaller ratio it doesn't matter it does matter let's say a million dollars is two percent for one person a million dollars is ninety percent for another person sure the two percent i wouldn't see is a big deal when you look at the ratios no you look at the the what do you call it the the cost opportunity cost of that money so yeah you could do averages or like compare ratios but the opportunity cost can also be like put into questions so your two or three million or however much you had in cash is costing you x y z and opportunity might be that's far more than mine so you could look at it that way but it's a smaller part of my portfolio no but i think that yeah you gotta think you guys are both right yeah we're blindfolded yeah i know i know right it's it's a spectrum of being right now more some infinities are bigger than others it's too much money to have in cash i think we we agree with that yeah so anyway what i was saying with that is um i i so i'm going to pay my time i haven't yet but i will um so that's going to take up a huge chunk of that so after that after that podcast i think like the highest i had in my bank was like 1.7 or 1.6 in cash and so i i'm gonna pay half of that towards taxes yeah and the other half i you know you'll find out soon i hope okay yeah that's exciting yeah that's gonna be dope that's cool so then after after that thing that you did are you gonna be putting more money into bitcoin i want to yeah depends on like what it's doing right like if it's 100 what if it's just shooting up i don't want i won't have fomo like i don't i have so much money in it that at this point if it goes to 100 grand i'm gonna be like whatever multi-millionaire or something like i don't i don't have fomo in that regard i bought ethereum at 200 a piece wow this is crazy i have so much fun buying it though but because it's trading all the time like today the markets were closed i was like i could just go and buy some bitcoin right i saw it it's like it i don't know i didn't buy it today i'm gonna hold off because i don't wanna get carried away when i get into something i start investing too much into it exactly that's i don't want to get carried away above my one percent that i said so for me it's like that's one of my fears too is like uh my bitcoin portfolio is over 50 of my investments like i love i'm a value guy like i love dividends and passive income and kevin o'leary is like we're basically the same person yeah except i've got more hair and uh no no we're not but you know he loves like cash flowing companies and like that i love that too but my portfolio with like dividend stocks is like 300 grand and my bitcoin's like 700. why don't you up the dividend portfolio why don't you get that to five i'd like to i'd like to get it to a mill okay and that way i want to be able to make 40k off my dividends that's it like that's without my 40k i was like if everything collapses and fails and i've like youtube just deletes me cancels me like i could still live off of 40 000 a year and that's such a comfortable salary provided how i live yeah like i'm really frugal so if everything goes away i could still live off the interest of that plus with bitcoin's interest but i feel like you're doing that already i'm already bitcoin the dividend portfolio yeah for sure yeah but i still just like to up that a little bit like my ultimate goal i think would get to at least six figures 100 grand passive income that would be so cool yeah do you feel nervous uh or do you feel like you're at the point where you can kind of chill a little bit like you you've been sure dude yeah you feel like you've made it it's so crazy like before i started youtube you ever like wake up one day and you have like this anxiety you're like having a heart attack just me all right well regarding what which which no just just in general have you ever woken up and you just like have your heart beating you're like i'm like nervous about but you don't have anything to be nervous about but you just are uh sometimes usually that's for me when i don't have a video planned out well there we go yeah that's what it is for me but like times ten but no reason like i had that before yeah um and now that like i think i've i've made enough money to even now if like i disappear which i don't want to but forever for whatever reason that happens i i'll be okay and that makes me not so nice so was that a financial concern it was a financial concern for a long time got it yeah do you feel like that graham um yeah you know it was odd but like i used to be so nervous about being homeless i don't know why or homeless where that came from overcompensated by buying like a half a dozen homes no i don't know why i've just been like i just didn't want to be homeless it's it's weird live with your parents at that point yeah which it didn't make any sense like i'd always have like some sort of family member i'm sure that would that would want to take why do you think that is is it like abandonment issues i don't know why i don't think so you got we got to get to the bottom of this i would like that i don't know i i think it's just this the comfort of knowing that i'm i'm always gonna have a roof over my head i feel like this is transitioning into part two of our insecurities i'm just always afraid of being homeless jack's like well i'm we got quite a range here yeah body hair to homelessness what was yours again i forgot what yours was this is the same as mine yeah it was probably similar to that no was it no i don't feel did you say body hair i mean remember i just disclosed it you did i did but i forget what i forget what it is actually i think i do know what it is my fear for a long time was not having better pokemon cards than graham but what's crazy is no did you bring it so last time we did this you had a psychic energy here yeah that you gave me right and i was kind of upset because that was not what i really wanted i mean it's a cool car yeah it's dope i like it but i got this is from graham's pack that you got from logan paul right which you spent what 12 000 11 11 000. but then oh this is it i got i got this card which is the second card that graham got from his pack wow that's the reason i see it are you gonna do a trick you're gonna yeah i'm gonna give it back you're gonna i feel like you're gonna do trick with it because i want the magikarp yeah and then and then you [Applause] yeah so like my going into the pack i'm like i'm gonna keep the holo card and then donate the rest of it to charity so i put it up on ebay and a bitter spent like i think it was like 4 500 bucks on the rest of the car a lot yeah it donated all of that money to back to nami but the one card i wanted to keep for myself was the magikarp because the magikarp evolves into a gyarados and they both came in the same pack and i was like well i don't know oh man see i just don't know if this would have gotten a psa 10. bro that looks like an 11 to me oh it's so good it really is perfect it's so perfect oh man so psa tens on these cards i think a grammy at this point no no no it's sold for like four or five hundred bucks i was bidding on one of these on ebay on a psa 10 and someone bit like a dollar more they sniped it yeah they sniped it from me but oh man that that does look perfect the bottom's a little bit no it's pretty perfect this is pretty perfect what's crazy is it's kind of symbolic to me so the reason symbolic is because graham got the gyarados because he's like a really big youtuber but i got the magikarp because i'm the underdog and i'm the littler guy so you're the gyarados i'm the magikarp you just got you just got the tackle yeah damage i'm kind of useless but i try oh man one of these days i'll evolve into a gyarados of my very own and get myself a jacket we also have another announcement before we go back to the pokemon thing uh we're hiring we're hiring guys so if you want a job come working for us you could be behind the scenes making sure the cameras are all working okay and the audio's good we uh we're we want someone to come and join the team but we had a bit of a controversy oh you don't know about it i gotta hear this what's the controversy so jack and i this morning uh figured okay we're gonna put together a video so we want what's my magikarp where'd you take my magikarp i didn't i see these two she's messing with me bro bailey was jumping i saw bailey have it in her mouth as she there's no way no yeah nowhere there's no way dude i mean seems like it but i i this is like a magic trick i don't know i swear to god i don't have it what yeah i don't have it okay i'm just going to cross my fingers and hope that she did not take it because i'm going to be very sad i feel like this is one of those things here it's like it's in your pocket no and we'll find it afterwards all right all right all right anyway yeah the controversy yeah we're about to have another one yeah okay so yeah so the controversy this morning we figured what's a good idea what's a good way to hire somebody well we think that they should upload a video to youtube with the title graham stefan interview okay with reasons why they should work with us right and then we could pick the one who's the most memorable and we feel like would be a good fit to join the team so jack and i this morning just riff off on the camera and winged it yeah and jack was like you know oh he's putting out like you know an outline i'm like no no man let's just wing it let's just get in front of the gamer have fun five minutes and upload the video so jack wanted to make it very clear in the video that he wants someone who's willing to do a job like doing jack's laundry no but let me let me explain so i'm not saying that like someone to do the laundry but i'm saying the kind of person that would be okay to do stuff like that right because the sole purpose of this job is to give graham and i more time to be able to focus on you know the graham stefan show graham stefan and the podcast you sure you don't need a girlfriend instead of just an assistant i would love a girlfriend that's been unsuccessful so far so the next step i just want somebody to hug me sometimes you know so they need to be able to kiss me sometimes just show me affection just tell me it's gonna be okay it's gonna be all right so the whole the whole so yeah we said like the laundry thing right and i don't mean someone that's actually going to do my laundry explicitly like that's their job but i'm just saying someone that will be here 40 hours a week or whatever and just assisting us with things right and i would love someone that would be willing to go so far out of their way that would be willing to do the most that they could possibly do to help us and yeah here's the thing for me it's like my experience has been when i first started working as a real estate agent i worked with this guy for free and i was doing everything whatever he wanted me to do i would go down and he'd be like i left my checkbook in the car and it's like five stories underground walk across the street go to my car bring me the checkbook at 9pm at night i would do it i never asked for any money doing anything if he was like graham can you go to this property and photograph it for me and then photoshop the pictures and then go and go and email i would do it yeah that camera clicked off we could just use these two for right now and then we'll go back to the wide uh i would do it no matter what it was and i did that for years now i started making money doing my own leases but whatever he would need i would do even if he needed me to go and like grab food for him for you what do you mean was that valuable was that a valuable experience yes absolutely because in return for doing that i got to be around someone who i learned from all the time i think that for the first few years of me doing that it was worth it i would say after about three four years i started to outgrow that hmm i don't know why you're smiling i mean yeah because all of this is leading to you need to be able to be okay with doing the laundry no no no no that was the thing you're starting the controversy yes i gotcha just hear me out when jack started right i wanted someone to go through my facebook emails sure and we had a the millionaire real estate mastermind which to get into the group you have to put in your email address and then i wanted someone to go in manually and just copy copy copy and admit the people into the facebook group i tried paying people to do this because it was such a just horrible task and it's boring right and i was paying people like 15 an hour can you go and do this everyone's like yeah man i'll get around it would never get around to it paying them jack sent me seven emails in a row just being like dude whatever you need i'm willing to help you i just want to learn and it just so happened i saw jack's email at a time where i was inundated with the facebook stuff and i said hey man if you really want to learn if you do this that'll help me out a ton if you just want to help me out he did it in like overnight like the next day it was done didn't ask for any money or anything like that and so to thank jack i'm like how about i'll take you out for dinner i'm just mad for dinner and that was it and then jack was telling me over dinner like if there's anything else you need whatever it is i i just want to learn and so he did and he would help me out with the uh we did the phone calls on the gram stefan show we just started up the channel and uh in the beginning didn't get paid at all did you do your laundry i didn't do the laundry but i literally would have done anything i would have gone and fetched food for ramsay's like cleaned up ramsay's fecal match sure like in the house i would have been so happy would you have eaten that's borderline eating a sea cucumber but i literally would have done anything and that was the whole purpose of like the whole laundry statement right is that we want someone that would be willing to why do you say it's a controversy did you get no well we're getting there okay so here's the deal i come from somebody who'd like i would have done anything for free jack worked for free and now now you get all self-conscious we talk about how much jack is making six figures now the point is i i worked for nothing and now i'm doing well and the same for graham he worked for nothing and now he's doing well yeah and even or we expect even on youtube man honestly like i worked for free on you like that that first year i was losing money making youtube videos i just enjoyed it sure we want the same type of person who has the same type of enthusiasm that's like i'm willing to do it i will clean up bailey's poop i will do jacks laundry is that something you ask for is that something you just spot in people you know what i mean like do you maybe you ask for that or you you notice that you know what i mean maybe that's where we messed up so here's the controversy we mentioned in the video tongue-in-cheek sort of like jack's laundry and i'm like oh yeah jack's laundry is bad you don't want to do jack slime it's a joke yeah and we kind of leaned into that and we were just like you know and it might include like driving us around and like just doing doing like anything uh including maybe editing for the podcast shopping for lots of bleach but but people in the comments went awful like you're giving forty thousand dollars for somebody to do all these jobs and like be your assistant to do your laundry and be able to edit that's the jobs like that's two people's jobs you're asking for one that's a million you know a millionaire to start doing that and i'm like people send emails every day willing to do work for free right and we want to pay somebody to do these things and grow with us over time it's like when i first started i was i was doing the jobs like three or four people it's it's like it's whatever you need to do you got to get done so we were looking for the same qualities but i think we we missed the mark on that by by outlining something that maybe should have been implied right yeah i agree that's not something you ask for that's something you notice but yeah but we drastically need it right now that's true jack needs his laundry he is not yeah oh my god yeah yeah no i mean yeah like it's not something you can put in like a job description it's just something you notice you're like oh this person is really motivated you know but i think this is something that graham and i both recognize i'm sure you're very similar but like you know you can sign up for a job that does you know eight hours a day five days a week but anything that you do more than that it just it will come back and benefit you and i knew that like even if i was making no money doing the work for graham it's like i know i'm confident in my ability to provide value and when i'm in a position where i have a connection with graham i can think of ways to to make gram money and if i can make myself a super valuable asset to something i i you know in turn i can receive some benefit i'm sure you're the same way yeah i make money from jack making money like jack will come up with ideas that will make him money that make me more money that pays for jack sure and jack makes more money sure so it's like it's it's a win-win for everybody and so p i think some people just are too short-sighted they're focusing on like the right now oh cleaning jack like honestly there are people out there that would do your laundry for free just to go and like just just to go and like be introduced like that's what i don't get same thing people get upset at me for posting on instagram like hey i'm selling my iphone guys 400 bucks to buy my iphone people like you're rich you should just give it away i can't believe you're selling that but little do they know whoever comes by first of all we get to hang out they get a personal connection and usually they get an instagram shout out which which is probably worth like five grand that they're getting just to come and hang out um and usually like the guy who picked up the desk we gave him all free access to the mentorship group which is 130 dollars we gave him free access to that and we gave him an insta or do we get to instagram shout out i think we did something yeah we did we did do an instagram and we talked to him on like a weekly basis for him coming and picking up a 60 desk that people were upset at me at right i know i can't believe you're selling a broken desk i can't believe you're doing that donate it we sold it for 40 dollars there's no sympathy for millionaires it's just that's just how the society we live in but it's it's so sad that people don't see the benefit beyond it and oh here's here's the perfect example the couch i sold the couch for dollars and the dude was was telling us it's like yeah now i didn't really do the couch for 1800 i just did it because i wanted to meet you and get that connection and we still keep in touch i mean it's just it's one of these andy gets a couch at the same cost that i know that's it's frustrating to me that people go off on me on that and they just don't get it i want people to understand right but maybe that's something that you just you can't that's the difference between the one percent and the 99 that's true yeah i think people were also upset because they said we were asking for two jobs in one with like the laundry stuff like a maid and then also someone who'd be able to turn on the cameras like a techie person but all they would do is turn on the cameras and make sure that they don't die when we're recording a podcast and i would teach them how to edit the podcast which is also like a marketable skill that would collapse what's the starting salary for people watching 40 40 000 yeah is that like a trial period or like that's just like the first year but the thing is it's like they're not limited to that if they come up with another thing that they can do like what if i say like hey can i have you on a saturday to do this or they say hey jack i have a great idea for the channel what if you do this what if they find me a sponsor what if they were like yo graham i've got a great idea will they have to split it with you or split it with me if they go straight to yourself absolutely not no well i mean that's a great question because we're gonna have to discuss that okay it depends what it would be right yeah but no my goal would be that it starts at 40 but there's room to grow beyond that like i really want it like i i hate the idea of bringing on new people and i want to get like one person and just keep them forever sure and just continue growing with that person like with jack just keep that going as long as possible yeah i mean 40k is a really good salary for like an assistant and no college degree no yeah like no education no college degree and i think we're just fun to hang out with like this isn't like we're not biased at all but no it's like i i mean here i am saying it's like it's doing difficult work i just see it as being fun all the time but they gotta like live and breathe i think it's only fun when you're in the driver's seat i don't think it's no i had so much fun as an agent like working for just doing stuff for free for somebody else i had so much fun doing that yeah because the premise is for you though the premise is ultimately for you to build an empire yeah but who's to say they can't build their own empire well it depends right like what's the job with you as an agent you could but if you're an assistant it's like a i don't know if the trajectory is there unless they assert that it's true so i don't see it as like the same fun i would look at jack is the perfect example of of you know jack being able to use this to leverage into real estate i don't think this is the same example though why because oh yeah that's true that's true if jack just gets 10 years at his current salary well not not really a salary it's his current income uh he'd be set for life all he has to do for 10 years is just not screw it up invest it three or four years five years true you think it's ten ten years yeah ten years of just not screwing it up just if he saves everything invest it all for 10 years he's set for life the rest of his life for you to be a youtuber for 10 years is like a dinosaur like it is so hard to be an influencer for 10 years i would disagree i would say that i'm almost halfway there things are the not sure things are only getting better and i think there's so many new verticals to expand to that weren't around 10 years 100 so i think every year goes by it becomes more solidified that you can do this yeah that's true i'm not arguing that but i'm just saying like in terms of like influencer years that's a really really well i also think that your current job will open up plenty of other doors and avenues in the event that your youtube channel doesn't work out here's the thing i've noticed too is that it seems like a lot of the youtubers that have burnt out a lot of those were channels that had been impacted by an algorithm or channels that were like like prank channels yeah right i i think business is a new niche that maybe it suffers the same fate or maybe we see all of a sudden the sec just cracks down on everybody talking about investments and the algorithm shifts away i think that's a that's always a chance yeah but i think it's a it's a it's a niche that's more akin to like a talk show host right than it is uh a youtuber yeah no i see it too there's just a lot of risks but yeah we'll see you're right there's a lot of new verticals that i've never expected but also the connections that jack has made i would say let's say that youtube just disappears tomorrow and i'm like listen jack we're shutting it all down there's nothing here anymore best of luck the connections to jack has made a hundred percent within a week you'd be able to find a job earning almost the same thing working for somebody else i don't think i would have to go back to college no that's the no i'll put it like i i would just know three people off the top of my head that would hire you in an instant just if you're like hey just i need a job i need a yeah i would do it thanks so that that's a way to look at it and i think the same thing would also apply to someone who's going in with 40k it's not about the 40k it's about the bigger picture but you need to be the type of person who's willing to do again you can't talk about that people that get it get it the people that don't will never see it i guess so yeah that's where we went wrong i was very literal about like you gotta be willing to do anything and giving like just random examples but i guess it's something that should not be yeah i guess so people were upset in the comments yeah yeah they did i'm not gonna comment because i don't wanna get canceled i mean listen if this so far is our biggest controversy lately then we're doing all right i think we're doing okay um how's your video do today um what was it it was a 10. no we could talk about it man it was a 10. so for those who don't know when you post a video on youtube it ranks it out of the top 10 videos yeah like your last 10 like how did this one perform relative to the last 10 you did a one means it's the best video of you posted after lost 10. yeah and a 10 means it's the worst you never want to get a 10. because especially as your channel is growing in subscribers like a 10 means it was even worse than like how much did that ruin your day this one i expected to get expected yeah so i would say it ruined my day like 25 normally if i did a video like this and i was like it's gonna be a one and it's a ten that's like eighty percent like my day's ruined i can't do anything afterwards me too yeah yeah this affects you like that as well i'm so depressed for the rest of the day that's why you came in such a good mood that's why you're like yeah yeah what'd you have today two number two yeah yeah it's good i had a two i'm so happy about that because i've been getting ones and twos for like same the last months same same for us it's all been like one two three three like if we got a four once and we're like the four is still equivalent to a one a month ago yeah yeah it's cool because as long as you're getting anything between one through five that means your channel has an upwards trajectory yeah this one i knew was going to get a 9 or 10 going into it because uh it was the interview with idubbbz and i knew that was not going to hit with my audience off the bat so i knew youtube was going to analyze that video and be like all right graham's audience is not watching it the people who are clicking on it right now are not watching it all the way through so it's probably not going to be that good of a video to recommend to graham's audience do you think that's going to get your momentum uh no because my wednesday video i feel like is is going to be good enough to get that audience back i would never post two bad videos in a row is it crypto related no it's not no no no it's not but i know my wednesday is good enough to pick this up so i figured today is a perfect day to post this because it's a holiday and typically what's happened with videos like this is that they'll do really bad for a week and then all of a sudden the algorithm finds let's see the idubbbz community and then starts recommending it really heavy to that so michael reeves was the same thing i think his video was a 10 by like by like 50 percent so like the 9 was like double a 10. and i was really upset about that because i i thought we nailed it on the title and thumbnail a week later within like three days got a million views same as the michael reeves one that we posted on the second channel after a couple days it was literally like thirty percent of a nine wow it was terrible like literally less than twenty thousand views in the first like four or five days which is wildly underperforming for the channel but now it's two hundred thousand plus 300 it's like three hundred fifty thousand so that's easily yeah that's one of those videos that just consistently every day gets like a few thousand views a day it just had to hit with the correct audience right so right now what youtube is doing is it's saying like okay graham's audience doesn't like this video where could we show this video where it might be a hit so it's gonna test probably over the next week and when it finds that vein of just users like this are watching it we're gonna recommend it to more people that watch these sort of videos then it's going to take off under water what water of course yeah i apologize for everybody the break my voice is like disappearing i still have a very soothing voice yeah no it's not a soothing voice how much did you make the entire last year last year 1.8 mil a little over 1.8 million oh a little over that yeah yeah that's more than i thought more than you thought yeah you didn't watch that video no yeah you did a really good uh breakdown that videos thank you videos how many how many views does that happen that's a million eight eighty one the irs has entered the chat there's gonna be someone who's commenting that that's amazing yeah it's crazy but this year i'm already over half a million or like six hundred grand that's in congratulations two months what are you gonna what are you gonna be doing with it all right no but because i'm going into game stuff but like for the rest of the year do you have a plan like an investing plan of what you're going to be doing with it just besides the usual consistent stuff no so okay like dividends yeah crypto yeah do you want to get super wealthy is that like something that you desire like no that was never like a huge goal of mine just comfortable before my goal was to get to fire financial independence retire early right which was to have just a million and then make 40k a year passively that was like the goal and now that i've surpassed it i'm like fat fire is the next goal so for anybody who's not familiar with sapphire is is 10 million five to ten is that what it is so five to ten yeah i've seen some where they say it's three yeah i thought it was or maybe yeah you're right like that would be easy but then as soon as you hit that then it's going to be extra xxl fire that's what i'm afraid of i don't want to always be that thing there's like a proverb and i forget what how it goes exactly but it's like like a couple's walking down the beach there's like a yacht out there in the ocean yeah it's like a billionaire yacht and then like the husband and the wife and she's like wow that's such a nice boat he's like yeah but i'll have something that guy will never have she's like what's that enough oh yeah i've heard that that's so good that's deep it's like that is so hard to do in life to say when is enough enough when do you quit and just enjoy life or i know you're enjoying your work but is there more to life than working is there more to life maybe is there like contributing back to society is there you know philanthropy is it like a deeper meaning i don't know but you haven't found what you enjoy or a purpose like that yet i think just like casey neistat did such a great breakdown of this where it's like we all as human beings have two sets of problems in this world we have the money problem which is something we've all faced with which is like how do i afford rent you know where do i live how do i pay for food and then all of us have that problem but once you solve that problem you get to the next tier which is something we all will forever have what is the meaning of life purpose love relationships like that will never go away no matter how many resources how much money you have so i don't know the answer to that because i don't know if i feel like i've conquered the money problem yet and i i feel like i have like you definitely have yeah but i wouldn't quit i i love it i think i think it's different for everybody yeah i love it too yeah it's not like about quitting it's like is are you fulfilled with life to this degree or or do you think there's something bigger than what you're doing now i'm a hundred percent fulfilled right now yeah the only thing i'm missing right now is the aquarium thank you you're really i'm so satisfied right i want for nothing materially like i don't want tesla no i don't even care like it's whatever the only reason i want a tesla is because it's one of the safest cars on the road and it's crazy because now that i have money i'm like i'm extra fearful about like lifestyle you know what you know what's crazy i was just thinking that the other day i i don't want to like ever jinx it by saying that but like i really want to live i want to be like stop all the way at stop signs it's like it's not worth it that's my anymore to put myself at risk on anything that might be getting into danger that's why fear is that once you get to a certain level in life you accrue this stuff this wealth whatever it is resources you start to become more conservative and protect what you have rather than take risks risks in life and love in everything you stop taking those risks because you're afraid of losing what you have and what you've built no i disagree i think it's because you don't need to take those risks anymore i don't think you it's because of a necessity it's because you you want to protect what you have which is why i have this newfound fear and you have it too no i just i i enjoy life so much that i don't want to do anything that would jeopardize it like why take the risk that's literally what i'm driving faster that's what i'm saying yeah yeah you don't want it to disappear um so you know that's one of the struggles is like well i don't know do you want to live carefully or do you still want to take risks i don't know but like materially i feel fulfilled 100 and you don't elsewhere though what do you mean feel fulfilled no i feel fulfilled with love like i love my girlfriend corey she's great but i don't know sometimes like you know if you're a dreamer if you're an artist you're just like oh there's something more to life i don't know what it is but i'm not saying i'm not happy where i'm at i'm just saying like maybe there's something more i always feel that same way too like like that i haven't filled the cup to the brim yeah but i don't think i'll ever feel that way i agree and i think that the closest that you can get to that is by having kids at least i'm banking on it because i want you're 100 right i want to know that you know what kids gives you it gives you like my friend tyus talks about this a lot he's great um he talks about because like what he lost his job he lost his wife he like lost all of his sense of self-worth right and he was like on the brink of like you know doing something bad and he found the solution to it which was purpose which is like if you have no purpose in this world like why do you exist right so if you find purpose and meaning then you'll always have a reason to find your life fulfilling and for some people that is kids for some people that's a job for some people like their cat their dog whatever um so it's kind of an interesting perspective yeah yeah so you've kind of found your purpose and your meaning just to do what you're doing which is we both find solace or like satisfaction in helping people financially that's a cool that's definitely i think has given us a huge advantage that it gives us meaning to what we do um and it gives us the other big thing which is recognition and i think like as human beings we all need recognition for what we do without it it's like it's hard if you don't get praised sometimes you're like hey you're doing a good job it's hard you know it's you need that reward so being in our position i think is one of the most like fortunate positions but you know sometimes i'm like you know do i just do this forever until like what like i don't know is there an end goal to this do you travel the world i think i would be feeling the same thing if it was just like i got to keep making three by the way want to hold the mic this way this way yeah yeah okay right there i think i'd be feeling the same way if i was just like i gotta keep posting three videos a week indefinitely but i don't know i feel like there's uh there's so much more beyond that like once it started getting into like angel investing and then coming out with a coffee thing and coming up with all these other little projects there's so much more that you could just continually grow and evolve from yeah but i just feel like all of those things are tools like those are experiences sure right like a game that you got to figure out like a little rubik's cube it's fun to solve it but still those are those are just the tools and i don't think that's the end result like i don't think i would be satisfied if i just kept discovering more tools to make me more money like i know there's a fine yeah for sure i'm not saying that it's bad i'm just saying i don't know if that's the end result of what i think is the most satisfying i'm not saying i don't want to go through that because that's that's why we're like starting you know our group would be cool like how you know are we gonna get to a hundred million dollar evaluation create products all that stuff's cool but like i'm still i'm not like when i look into the future of my life i'm not seeing a chain of these events over and over and being satisfied with it i don't know if i see that satisfaction if i got 100 million like i'm just like okay cool like then what you'll find more ways but is that really you just like keep inventing new ways of making money and that's fun i don't know i don't know i haven't i'm not saying i know the answer is right i don't know the answer but i don't feel like that is the answer i think that everyone has their own answer probably yeah yeah yeah for sure do you what do you see do you find yourself like being some like billionaire and you're like alright cool no i don't think so not at all uh i wouldn't pay that much billy that's that's too much uh i think that for me i'm more similar to you where i think like it's easier for me to have like a simpler life yeah and i think i would find more fulfillment out of that and i don't necessarily need a bunch of money or anything i just want to have enough yeah see for graham i understand where he's coming from i don't think he needs money because part of the reason why we do what we do is because it's like a game it's like a puzzle and it's fun to keep solving it and as a result we make money so it's cool so for graham that's enough this puzzle it's like an infinite puzzle that is never solved i get the appeal in that but i'm just saying for me it i don't know if that's what i foresee my life being like i i agree with you it's more about you have any idea though i i think when i thought about it for me i do think it's about kids it's about like family and just maybe philanthropy maybe i'll feel fulfill it because i love to do magic and like cardistry for people and the reason that i do is not because people give me credit for being like talented it's because i get to live through them the first moment that i saw magic and when i see the joy and like the wow in their face i feel like i get to live through that person for the first time their reaction i get to experience it myself because once i know how a trick is done it's ruined but when i see somebody else have that same reaction i'm like oh my god that's what it felt like and so i don't know it's like i just feel like there's more to life than just solving an infinite puzzle that yeah brings you money that's fine i'm not saying it's not you need an aquarium yeah you're right yeah i don't know i have to say i've been so much happier when i got the piano i'll put mine in like 30 minutes sometimes like 45 minutes a day of the piano once you get it yeah there's gonna be something else right the piano no once you get the aquarium there will be something else maybe i mean you want maybe a bigger aquarium at some point i don't know but there's this funny meme or joke and i don't remember how it goes but it's like your happiness lies at the other side of this aquarium it's just like almost like trivial like well obviously you'd be happier once you get that aquarium like that's that's the solution but like yeah the reality is like you're never gonna be happy but then we get like too philosophical where it's like i don't think we were ever meant to be happy right like what do you mean and elaborate like we were never meant to be happy as humans we're always on this like hamster wheel of like chasing what we think is happiness we have to be because otherwise otherwise we'd just be complacent yeah nothing and then we would evolve as a as a person we'd all just be we'd still be cavemen but that's what i'm saying so like with you making money like the reason i said it's just a tool so you are stuck in this obsession of the tool itself and i've been there and like i know what it is because i've done this with cardistry with magical cinematography i've gotten so involved in the tool and perfecting the craft that is the tool to forget that there's a reason this tool exists you leverage the tool to tell it greater story than the tool itself yeah so for you it's like yes money cool whatever companies products awesome but those resources you can leverage into something that is more meaningful maybe no but but that is that is helping people with financial literacy i i think if i were doing something that were destructive right that would had a negative impact on people even if i was making double the money i wouldn't feel good about it no no i'm not saying that i'm just saying do you find like like for me if i was gonna go down your route of just let's let's make as much money as possible i feel like i wouldn't get enjoyment of it until i utilize it but it's never been about making as much money as possible it's just been a byproduct you're right you're right loving it you know what i'm saying that i mean that you're right but i'm just saying do you not like have this urge to be like alright cool now i have all these resources how can i best leverage it to maybe make use of it that isn't necessarily for me because i know it's not for you when i'm making money yeah at this point it's like whatever but do you want to leverage it somehow do you want to build something do you want to i'm still in the growth phase like i'm not i'm not even there yet i still want to continue growing it no i'm waiting i'm sure at some point it might change but i'm with you too yeah do you think it ever will change though maybe maybe not but it's i think i think as long as i'm as long as i'm happy doing what i'm doing i think that's all that matters 100 yeah i think that's true do you guys think that animals are happy yes yeah so you do you andre i've never thought about that your dog is for sure happy yeah i think he's happy when i give him like chicken right right do you think that they're capable of feeling happy yeah of course so you think that the whole happiness complex is just a human issue possibly why is that just because we're like self-aware i don't think it's just humans i think it's any evolved species like i think monkeys are capable of being happy are capable of being unhappy i think if you put a monkey in a cage with no socialization that could be miserable same same thing with dogs i think with the right conditions they will be happy but i think some animals that are capable of those feelings would not be happy under those certain conditions for sure yeah i think if i was honest with myself i think i'm the happiest that i've ever been in my life now like i've never been happy is it happiness or is it being content no i think it's truly happy yeah i don't think i'm like content we all got the same notification i'm just curious if if you if we yeah i need kevin he comes up in every podcast stimulus yep 1400. every podcast somehow organically kevin comes up and it's now become the running joke of the channels like every podcast it's like when's kevin going to come up his second stimulus update for the day speaking of kevin jesus christ he's like crushing it oh my god yeah kevin's a man jesus i know his stock market portfolio i'm listening to him in one year it seems like he's figured out the entire stock market or he's gotten really lucky right but i would say his analysis of stocks so far has been really spot on right i love his in-depth breakdown videos on like uh i think he had one on what was the car manufacturer neo yeah maybe it was neo i love that video and it got i'm sure for him like a 10 out of 10 by far but i love the video oh yeah he picked it up so fast yeah kevin's brilliant and it's cool is that he has like so much of a drive and a passion even at his at this point yeah and he has like a family and we don't know how he does it because i don't understand we see him on there at like 11 p.m at night yeah still like going same energy and then five a.m the next morning he's honest he was on clubhouse very very late yeah it was like 11 00 o'clock sleepy face emojis past midnight wow yeah he's not a sleepy face emoji he's like oh this is boring yeah meanwhile this is too slow for my fast brain i know do you think you suffer from perfectionism yeah it gets to the point where like i find myself in a loop and it's been like two hours and i'm like i need to like go forward i i obsess about a detail that i think nobody would notice what like um i'll do a take and i'm like oh that didn't sound right i'll do it over again and i'll maybe like be stuck for half an hour on something that's a minute long happens from not all the time but like sometimes it happens and then i force myself to get over it um another time i'll be editing something and i'll be like oh this is i gotta add this i've become a lot better at it but when i first started it would take me so long to like edit or do something just yeah it's crazy i get this every now and then when i'm trying to say one sentence but you start saying it too often that you mispronounce like one word yeah that happens to me all the time yeah but then i can't say it again yeah it's crazy but like some people are really gifted like kevin you could just talk you just watch the news yeah i know reiterate it yeah that's amazing that's that's a talent he'll make a great asset i asked him i asked him if he's a perfectionist at all and his answer was just no that was it just like not at all not at all yeah no kevin's definitely someone we all look up to i'm sure yeah it's crazy i can't believe i'm sitting here and talking with you like that's awesome why yeah because i used to watch watch you in 2019 you had like 300k subs and i was like wow this guy's awesome i'm sure he'll get to a million at some point and then you took off and i was like oh that's crazy yeah no i'm taking it off no it's an honor to be sitting here with you andre yeah thank you but it's crazy the fact that like you know when you want like you were high dubs like the same feeling it's like wow you still have that there's no way you still have that feeling not your old name now you show up you're lazy let's get this over with i gotta get going yeah no it's it's such a cool feeling yeah and i i don't take it for granted well we want you on the podcast as much as possible because these episodes do really well and the conversations are amazing yeah see i want to do once a month where it's like you me and jeremy we we invited kevin kevin uh no on the podcast it's a podcast episode for this yeah with this yeah yeah because jeremy's are so good because he really goes off on like the stock market and the economy sure and we lose i just listen i listen to what he has to say on that right but i think all of us together would really get in like a good rhythm on that for sure well which is why we're making that channel right millennial money that's right that's gonna be epic i'd love to hear people's like comments if if anyone's left watching this video there there will be people any ideas yeah we get about 20 at the very end so like 20 of the 20 on youtube but on like anchor like the streaming services it's a lot yeah it's it's like maybe seven i would love to hear people's ideas for what they would like for us to talk about or do because i'm sure there was a channel like that already where like people take risks or like they compete against each other for fun investments money challenges i think money challenges that would be fun like we should take a good grade whether we started a channel that's what it would be well there's literally a casino that we go to and we like see who can win more money yeah or you know what are we going to do that on your channel i want to do that yeah so let's do literally what i wanted to do yeah you said you hooked it up with red rock right so yes so whenever you want to do it just let us know okay and andre you you are onboarding help at some point i'd like to i want to start hiring i just like i need somebody who's a good editor who could do laundry no i don't even know laundry so so if you've made it to this point yeah and you want to make a video yeah and a title and you know entitle it and thumbnail it sure and address andre yeah preferably if you live in vegas though because like i'd like to work face to face yes 100 so i would need to meet them and just like hang out and you know i i think ideally at some point we'd probably like live with them because then you have to i can't like send footage it helps that you guys are together all the time well then you have somebody work from a home office if they don't want to necessarily live that's true that's true which i have uh anyway wow okay no one's watching it anymore so that's okay nobody's watching this no i'm just gonna assume like 10 people are left at this point be lucky if it's 10. anyway just kevin uh if you if you want to pitch anybody to reach out to you yeah i think it would be worth it yeah sure how do i include my email yeah you put it in the description yeah yeah and my blog fight code too yeah yeah sign up for block by yeah dot com andre would you would you actually hire somebody i would really yeah okay that'd be cool what do you want them to do just editing and shoot help me out yeah you don't need help anything else it's just like jack yeah andre needs a jacket your name has to be jack yeah yeah exactly there was someone else that we reached out to earlier uh whose name was also jack no and i thought it would be so funny to get two jacks yeah that's funny be like jack i need your help you're like jack too yeah i would love i would like yeah preferably if your name is jack would be that's that's like an extra 10 points 10 points for gryffindor yeah yeah well thank you gotta be jack or macy would be really funny too yeah thanks for having me man thank you is there anything else no i love you guys thank you for watching and thank you for watching my videos definitely do you want to look for the oh we should do the outro uh ready yeah so andre thank you so much for coming out really appreciate it and guys thank you so much for watching really oh you know what you got to tell them to smash like but look in that camera tell them to smash like button where did this come from i don't know we were just talking normally he's like all right we got to do the track all right guys all right it gets so high this is like energized like where did this go let's destroy that like button hgh yeah all right um what was it going to say smash like destroy the like button for the youtube background that camera right there destroy the like button for the youtube algorithm please please subscribe please subscribe and get your two free stocks down below in the description and uh go to block fight.com forward slash andre to get up at the 250 dollars worth of free bitcoin when you deposit two million dollars from the platform [Laughter] and otherwise you get a dollar i don't know how much it is don't forget to get those free uh weeble stunks and check out my patreon [Music] call thanks so much thanks for having me appreciate it uh where's your magic where's the magikarp the magikarp you guys aren't right oh yeah so we're going to be starting a joint channel at this between andre me jeremy and kevin what yeah why didn't you tell me because it just happened when now it's gonna be what yeah now yeah it's like just right now yes yeah no yeah not right now yes yes right now right now this is the announcement video yeah we've never talked about it no no this is just hey graham you get me way too much i'm not going to believe this i refuse to believe it i messed the jack all the time show them the picture yeah yeah did you guys see it i saw it yeah yeah that's just a meme no kevin made a whole channel and we're making banners like look at that there's like different ideas the other banner yeah should we tell them what the channel name is here uh yeah what is it called millennial money millennial money are you kidding me that's not the name of the channel it's not millennial money yeah so great is that not good no i think it's good but it is uh not super original but it's good yeah i know it's good for seo yeah yeah cnbc is going to have to change the name now the nbc does not own millennial money that's just their subheading right right but you know we looked at millennial money channels we're going to be the biggest one no you guys if you guys aren't are you serious yes yes yeah we're going to meet once a week for one hour yeah probably on tuesdays yeah tuesdays i think it's six after six and we're just gonna record a one-hour video yeah and we'll just talk and we'll do whatever we'll do clubhouse too they'll do it simultaneously so people can tune in and ask us questions if they want and it could be like a live panel yeah it's meant to be more of like a live panel sort of thing oh so you're gonna have like people asking questions and stuff like that or we just chit chat about whatever yeah huh it's gonna be sick yeah our goal nah this is just me making stuff up but what i was typing ever to everybody in the chat room i was like yeah our goal is gonna be a 100 million dollar valuation in five years oh that's that'd be sick yeah that's uh yeah we could do it we could do it yeah easy easy we're all gonna just invest you know we're gonna be young investors yeah all this solid blue chip investments that right you know people like jack bogle john bogle what approve of yeah things like bitcoin yeah welcome back to the 41st episode of the gramsci ever ever ever jesus christ very first ever episode of the iced coffee hour my name is andre and so far the podcast is made this is a lot harder than 40 thousand dollars [Music] when i'm pressured i can't do it all right what was i saying again welcome back to the 41st ever episode of the iced coffee hour