Making $1 Million Dollars With Bitcoin - Confronting Andrei Jikh

hi my name is andre jack and so far the podcast has made one billion dollars no it's a hundred grand i think it would be nice billion dollars one hundred thousand dollars that's awesome congrats you guys thank you so much you should have said come for the coffee stay for the 100 thousand dollars you know the last time i was here i broke another milestone too i broke a million dollar an ad revenue milestone if you don't know really yeah it's total right not for the year but not for the year total yeah wow yeah congratulations yeah we should see each other more often so we could bring more milestones you know it's fine i think we're almost about to do that for the second channel we're getting very 1 million almost a million dollars in the second channel whatever it is right now we're going to put it on the screen yeah for you guys to see that's awesome and we've only had it for how long two years two and a half years i think okay two and a half years so about the same as what i had my major right got it yeah that's awesome anyway i feel like we should introduce you so you are the uh my arch rival nemesis personal finance enthusiast on youtube 1.6 millie what are you at right now i think 1.68 one point's okay but who's counting 1.65 but who's counting you make videos in personal finance you do a lot of magic i do which is really cool to watch when you're doing these videos to incorporate that into your editing and it's just it's neat it's really neat stuff and you were able to go from what was you started a dividend portfolio remember that's how you get started on youtube on robinhood yeah there's making passive income and then you've grown that into what's that at now yeah so far i could check can i pull it up or yeah yeah i think it's a little over 400 now um but i've kind of switched my strategy so when i started i wasn't making as much so now that i'm in the highest tax bracket i kind of dialed back to focus more on broad market index funds which makes a little bit more sense but so far it's at come on robin hood load robin hood hey i love rolling what an amateur yeah it doesn't want to load here the cryptobot guy buys all of his uh stocks and as much as this it's not loading come on rob i don't know if it's your service or what but anyway it's about 450 460 right now that's great and that started from what and that started from so when i quit youtube i think i had in my portfolio about 150 170 when you quit youtube sorry when i quit my job to start oh okay yeah that was 170k around which was about two and a half years ago so i started january 2000 2019 yeah and within two years i got to a million subs luckily i don't know how i did it but here it is and graham is uh my mini me so what i think is really cool we had you on the podcast uh wooden was back in like february it was the beginning of this year yeah and we were talking about cryptocurrency and you were telling us a little bit about the dangers of tether and what was going on with bitcoin and ethereum and back then that was just like just as things were taking off so what have you now noticed with everything going on with el salvador with currency prices just going crazy and then just this flash crash that recently happened what are your thoughts on everything and have you changed your own investing strategy for crypto no it's honestly stayed the same but exactly what i thought would happen is happening which is now we're shifting from institutional buying to now countries fighting for bitcoin and it seems like if you're an early adopter then you know it's helping those countries that don't necessarily have strong currencies so now we have ukraine i think was the latest country that announced that they made bitcoin legal and that's going to have again a domino effect we're going to have all these countries around europe that are going to start adopting bitcoin it's only going to keep growing so why would a country go and start adopting bitcoin which is an alternative currency to what they could be using and promoting their own currency within said government like why would they allow bitcoin yeah that's a good question it's because their currency is not strong enough on a world scale it's just not a strong currency against the dollar right those countries are printing their money away so their currency has no purchasing power which means you're if you're a citizen of those countries the price of goods is increasing every day right so to have some sort of store of value for those people they're trying to put it all into bitcoin would it be possible for them to create their own currency like let's say el salvador right instead of bitcoin they say hey we're coming out with our uh el salvador coin everybody's gonna get x amount of this coin you could redeem it for this we're making this legal tender there's only going to be so many of these like can't they develop their own yeah and then every country now like you go to canada they have the canada coin you come to the u.s you got it that would be different from that than like the us dollar it's just a digital it's really just a digitalized dollar and people might feel like it has less impact for inflation yeah well they are doing that right now but not for the same purposes as they would for bitcoin the reason they're doing that is they just want to digitize their currency right it's the same as the us is doing here with fedcoin right we're trying to create our own u.s digital coin and those countries are not trying to recreate bitcoin and even if they did nobody's going to start adopting that currency's currency as bitcoin they're not going to just switch over because countries kind of hate each other they're not going to work together so bitcoin has that strength of not being owned or controlled by any single authority and because no one lays claim to it people feel like it's kind of neutral so they want to buy it that make sense yes isn't it a bit dangerous though let's say for el salvador they they all get a certain amount of current i think they were giving everyone uh 30 of currency right if they set up a wallet can you explain this in depth a little bit more for some people that may not know a lot about it the viewers i'll let you explain it about el salvador yeah no i'm not actually in the family are they giving away 30 yeah yeah oh graham he's backed into a corner do you know how to explain it graham are you sure you can do this wait a minute can we google this really no i'm kidding all right okay so alex pull it up hold up are we getting our citizenship so let me explain so so to my knowledge to my what they're doing is that they're giving everyone thirty dollars a bitcoin who signs up for a wallet and basically implements this so that's their way that's their incentive of getting people in on the door and a lot of people just don't know how to work it they're uh you know it's like imagine trying to get like your grandparent to understand how cryptocurrency works get a wallet address so they're thinking well you know we throw 30 bucks uh that that's going to bring enough incentive to to make that happen but my concern was that uh literally the the the moment they implement this is legal currency it drops 15 in a matter of minutes and having such a volatile currency now everybody in el salvador who implemented this now their money's worth 15 less in minutes wait you said el salvador's making their own coin or they're giving 30 of bitcoin you're giving 30 a bitcoin to their citizens who and why do you set up that drop is happening it's obvious it's got to be a whale i mean we don't know exactly my understanding is that the reason of the drop was that there was some sort of whale who sold off a massive amount triggered a whole bunch of margin calls around the way um that lowered the price of bitcoin to a point i think it was like 42 where immediately people started buying it back up kind of stopped that loss then it's since recovered to about 46.47 and now it's kind of hovering there that that's my understanding of it yeah my understanding is just it's a case of buy the room or sell the news right like you said there's just some whales that heard the news cool el salvador's adopting it they're implementing it sell it scare people buy the dip it's just another opportunity for them to take advantage of those people who have no idea what they're doing but it's again it's a temporary drop and that's what bitcoin does and these drops are going to become less and less substantial over time as more and more countries start adopting it as the market cap continues to grow yeah so who do you think is going to be the next country well ukraine i think was the last one um i could see gosh i could see countries in africa start adopting it so it's illegal in quite a few countries oh yeah it's illegal in a lot of countries yeah and it's interesting because the countries that it's most illegal in are the ones with the most censorship it's the governments that are the most corrupt and the most the the countries that want to censor the internet essentially those are the ones that are not allowing bitcoin right so and they're the ones that need it the most absolutely they are the ones that need it the most they are liberating those countries bitcoin is liberating those countries 100 yeah but then they give up control i mean you have to think too if you're a dictator and you want to control your your entire country and just the the masses bitcoin takes that control away right there's no incentive for those people to want to embrace bitcoin and so imagine if that country that is censoring people did create their own currency do you think that people around the world are going to be like oh el salvador created their own currency i gotta buy into this no one's gonna do that that's why i don't see any country trying to compete with bitcoin to any relevant point yeah i would love to see zimbabwe yeah and incorporate bitcoin i would love tina why is zimbabwe are you are you not familiar with it no please educate me are you actually not i really am not okay zimbabwe has seen the most inflation from any location in the entire world and you would literally see people with trillion dollar bills trillions and they would have to walk with the wheelbarrow of money there's pictures on it just to buy a loaf of bread like imagine a wheelbarrow of money hundreds of trillions of dollars to buy a loaf of bread and i forget what their what their inflation was it was something like thousands of percent a year yeah like if you you if you by the time you received money and spent it it's lost value that's fast so i'm like a zimbabwe quadrillionaire is what you're saying yes and you know what's funny well not really funny but uh it's odd i think it's it's you know as a bit of a souvenir people buy their currency on ebay and you could say like you could buy a hundred trillion dollar notes on ebay for like i think it's like 20 bucks something like that but i just i have a collection from zimbabwe for those yeah i think there's one million 10 million 100 billion or 100 million a billion 10 billion trillion billions yeah i have all of that i think is i think the top is 100 trillion dollars and it's crazy because the value of the note itself isn't as valuable as the paper it's printed on like literally the paper is more valuable it's like the penny yeah exactly yeah that's a perfect analogy yeah that's incredible that's insane it's like the uh the dollar bills after you know germany did that thing and people started burning them because it was cheaper to burn dollar bills instead of buy fuel yeah and also remember venezuela has another problem as well so venezuela's money is beautiful i have a collection of those as well they have like beautiful artwork on their money which is also completely worthless unfortunately geez and do they allow bitcoin in venezuela and zimbabwe to my knowledge right now i don't know i'm not keeping up with it see you really when you talk about bitcoin it sells me on it so hard maybe i'm just a little too impressionable and juvenile but like yeah you're really selling me on it uh audrey doesn't even have to say anything he just says the word bitcoin jack's like bitcoin good wait a minute but but why do i have to sell you on it what is a non-selling point for you that means you're that means you're a verse to it why don't you like it then well it just went from like 60 000 20 000 and for anyone look i have very limited knowledge of cryptocurrency yeah and just from any outsider seeing something do something like that when compared to like index funds which are nice and safe or real estate which doesn't generally do the same thing in such a short span of time it's very very scary but first i want to thank our sponsor upstart hearing the credit card balance month after month can feel never ending and trust me guys i've been there and tons of 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episode and back to the podcast you know so i do allocate a certain portfolio percentage mainly just listening to what graham says you know it's a three to five percent and that's kind of what i'm doing i'm not like yeah what if you it's surprising that you say that jack because you're the guy who invested you had like 16 grand invested in doge points i was just about to say that says the most volatile thing ever that's different it was going up okay and that's going to only goes up bitcoin could go down a lot of that was about principle and honestly i'm gonna say it a lot of it was about proving you wrong [Laughter] just because i was but i just want to say it is lower today than the point i told you to sell at originally it's lower today than the point you yes yeah but i sold that twice what you told me to sell at well i've been telling you i've been telling you to sell along the way but it's the point being if i sold it the first time you told me to sold i'd be up like 100 bucks still it's still lower than that point where i was like hey you should probably sell what's your most speculative investment right now right now well i got uh probably the power of like eight to nine hundred shares of palantir oh wow so you mean options trading well i have three he calls it the power of the power well like like i got some options yeah okay so i have like three or four call options leaps so like way out in 21 22 way in the money so like strike price i'm talking like seven dollars fifty cents ten dollars and then i think i have four or five hundred shares so like eight eight hundred i effectively i like how you just use options trading language and you're like oh for people who don't know what bitcoin is effectively i'm owning you know 800 or whatever 800 shares yeah what are they worth 26 bucks and the i mean the grand total value of them i'm not sure so like the the options that i bought were about a thousand dollars each so three thousand dollars and then four or five hundred shares of palantir i guess would be like fifteen fifteen grand yeah fifteen grand fifteen thousand yeah so like 18 thousand dollars in palantir and that's like for me that's like a ton of money that's like your portfolio value in total wait so what do you have so what are you asking what do you ask the question exactly i want to compare your investment that you consider is the most volatile or the most risky to your actual investment portfolio so you're asking how much money do i have in the stock market well just in general how much are you investing wait so let me get this straight so you're you're asking [Laughter] no i'm just i'm just curious yeah okay so ask my permission all right in robin hood i think i have like 55 000 in vanguard index funds i probably have like 80 to 90 000 and then in m1 finance i have about 70. so 150 so about 200 200 000. okay is that 215 maybe 15 15 220 yeah and that's how much i have invested in the stock market and that counts palantir yeah and that counts volunteer which is about 15k yeah that's that's not bad that's less well palantir is a it's like a seven yeah in the last year and it's a newer tech stock it's a little more volatile but then again i like the stocks so i guess that's more speculative i have more money in individual stocks like apple i think i have like thirty thousand dollars in apple but then again i wouldn't consider that more speculative than having eighteen pounds absolutely but seven percent is not that much so if i were you i would definitely swap that seven percent palantir with bitcoin and no problem you'd be fine i have money in bitcoin i have five to seven percent bitcoin five to seven percent all right so you're fine yeah now why don't i i don't know no no no i'm just saying now you're making me want to go to maybe 10 15 percent honestly you could go 15 bitcoin i have the risk tolerance yeah that's the thing i'll tell you this i put 10 of my net worth when i reached a million in bitcoin at the end of 2020 and like pretty much 10x that at its peak so crypto by no intention of my own kind of became 30 to 40 percent of my net worth so you put in how much initially uh 100 grand which was what percent at the time about 10 10 and then it is now about 40 30 30 40. which is how how much money uh roughly a million oh yeah yeah roughly that's pretty good that's incredible that's it's really good yeah so i'm looking for places to put it wait wait wait wait wait wait wait wait it turned from a hundred thousand to a million yeah so you said it five x no i said it no tenants that it's people i think that's our title right there yeah that's peak got it so who got the title yeah that's incredible wow andre i had no idea it was like that man yeah no it's really cool but i've been investing in bitcoin since 2014 i just didn't have that much money to put into it at that time and i didn't really fully understand it and i'm still trying to understand it it's like the longer you're in bitcoin the more you learn and the more you realize how much you don't know about it see i think that's a that's a little hard to stomach for new investors that aren't so familiar with bitcoin it might deter them it's like if they think that buying bitcoin is much more complicated than buying a house which to a lot of people probably does seem like that because people have houses right uh then it's gonna deter a lot of people like getting and starting investment properties is hard for people to stomach because it's just like you have to know how to fix this you got a no contract you're gonna know this that's not true the difference between real estate and bitcoin is that real estate you need a lot of money to get started with relatively speaking with bitcoin if you try to introduce bitcoin from a price appreciation perspective if you're like hey i've got a cool opportunity for you to 10x your money that's terrifying i would never take that investment sure that's why if i'm talking to somebody about bitcoin i'm never going to say look how much money i've made with it i'm going to tell them about the federal reserve and i'm going to paint this picture of how money works and what it is and how it's exchanged and what bitcoin you know the bitcoin story in this world and i think once you understand the monetary system relatively you have to understand it to the full degree but just a little bit of the basics i think you start to understand that bitcoin is not a risk at all if you look at it from a price perspective which is what i think graham was doing for a really long time then it's absolutely risky it seems like a scam is like i don't want to do this so i wouldn't think about it in terms of price i would think about it in terms of the narrative and its place in in the world the use cases do make a lot of sense but then again it is just so much information because it is like it's so new it's overwhelming and you know i feel like we haven't even explored its its full capabilities yet so like i said i think it could deter some newer investors and i'm sure if there was some sort of like bitcoin and psycho encyclopedia or something that people could access with like a simplified version if you know of any called youtube it's called andre's channel that's true i'm not a crypto channel but i do do a lot of crypto content and the thing that i guess upsets me the most is that a few years from now the people that are gonna that are learning about bitcoin now that are just getting their feet wet they're going to miss the boat in the next few years it's going to be unattainable to even own one bitcoin really oh yeah like i said countries are going to buy in institutions are going to buy in i wouldn't be surprised if one day each bitcoin is worth a million bucks that'll happen i think before 2030. see but if you are that bullish on it yeah why 30 to 40 considering you have such a strong income and that's not going anywhere and you you have a loan on your house do you still have debt on it you paid it on cash yeah right so why not unfortunately yes why not just go in on bitcoin you could invest a million dollars into into an investment property or two and then that will basically ensure that you're safe for the rest of your life considering your current house paid off and then just everything else bitcoin no that's a great point and the reason i'm not doing that is because i'm also risk averse and i think there are things that we don't know that we don't know and you don't know what's going to happen so i mean i fully believe in bitcoin and if i was a bigger risk taker that would be the smartest move right now because bitcoin is going to appreciate far more than anything the stock market's going to do in the next 10 years selling me on it yeah selling me on it yeah why don't you go up to like oh yeah so so for you bitcoin has got to be what 30 percent yeah yeah it's not bad honestly yeah i think from here on out even if you just invest 20 of your income back into bitcoin it's still pretty good yeah now i feel like i have a pretty good ratio 20 to 30 percent of my net worth in bitcoin as it is at a million that's not bad i feel good with that first we want to thank grammarly for sponsoring this episode jack you know what recent time saving tips i recently found what if you shower with your clothes on you're effectively doing laundry at the same time wait but then never mind but alex do you know what's been saving me time i'm installing tinder no well yeah but also our sponsor today grammarly when you want to save time throughout your day and want to work more efficiently it's the little things that really start adding up and grammarly premium gives you real time suggestions on your writing wherever you are for example when i dm guests to come on the podcast i want to make sure that my message comes across clearly and accurately the first time with grammarly premium's clarity suggestions i make sure i'm not using any repeated or unnecessary words and their vocab suggestions offer replacements for overused words and phrases and with their browser plugin and mobile app i can use grammarly premium no matter where i'm at and with the free version of grammarly anyone can be protected from spelling grammar and punctuation mistakes and actually that means you too alex stop letting autocorrect duck up these sponsor scripts hit send with confidence and let your message come across much more clearly with grammarly premium get 20 off grammarly premium by signing up at grammarly.com iced coffee thank you so much grammarly for sponsoring this episode and back to the podcast especially in the next 10 what are your thoughts now on ethereum because everything happening with ethereum lately is actually really interesting and now i've started to buy more ethereum when it dipped below i don't know 3500 it dipped around like 32 i started buying back in right and i was not buying ethereum i think i said on the millennial money podcast that i was only going to buy ethereum when it dropped below 18. or there was like 19 and i did a little bit but uh now it's like 32 and it's that seems like a decent price to me how many coins do you have 50 60 50 60. that's really good i have so far about 100 of them i i'd like to have more but yeah i think i was going to crush it next year i think especially just because they're going to go to the proof of stake model at that point it's going to be insane so for some people that may not understand ethereum to the full extent because i know a lot of people say ethereum is way stronger currency than bitcoin i hear that a lot right like a lot of people die for ethereum why like what is that argument simplified oh gosh at its simplest core i would say the reason people say that is because bitcoin is deflationary and as a currency you don't want deflationary currencies because deflationary currencies incentivize people to hoard on right they like just hold on to their money it's like i'm not going to spend it ethereum has a higher print rate to where it's considered inflationary so there's an endless supply of ethereum right now there is technically there is yes now in 2022 when we go to proof of stake which is a different consensus model we'll have a 90 i believe don't quote me on this but a 90 issuance cut so the the rate at which we create ethereum will be cut by 90 in 2022. at that point it'll still be an inflationary currency but it'll be substantially less and do you know why they're doing that is the inflation rate a little too high at its current state they're just restructuring the incentives that aligns more with proof of stake rather than what does that do work how does that help proof of stake to me it seems like they do that and it boosts the price up for everybody else yeah that's what it seems like it's more like selling it yeah it's like the fed kind of like you know protecting inflation but they're boosting the market up it seems like this is like well it works better but it's also going to i wouldn't say it's like a marketing gimmick it's not it's not a marketing game because just instead of the fees going to the miners the fees would instead go to the people holding the coins that's the proof of stake right so if you're holding the coins you are the one that gets the fees rather than the miners so it's it's less a marketing gimmick and it's more yeah but a mechanic yeah but if they're if they're issuing 90 less that's going to incentivize people to hold on to it and use it less as a currency for its intended purpose right it's too early to say i think i think we should wait and see but all currencies in their current form are are bad currencies just because they're very slow and expensive to use like bitcoin for example the block time is 10 minutes right that means if i was to buy something at the store right now not to mention the fact that it's like five dollars to even spend a bitcoin which makes no sense if i'm gonna buy something that's five dollars i'm gonna have to wait potentially up to ten minutes to check out which would be really lame right it's like wait in line for ten minutes people behind me be really upset so on layer one bitcoin is not a good currency neither is ethereum we have to go to a second layer it's kind of like think of it like dimensionally we have to go to a higher dimension at higher level to interact with these currencies but that's a whole other enchilada that if you want to get into that [Laughter] do we want to get into that i do yeah so are you saying like like how robin hood's not technically like trading the stocks like because i think we talked about this last time but this whole new enchilada would be something you trade on top yes of of it that basically just signifies it but it's not actually exactly and it has a faster transfer speed yeah and then once that transfer occurs then it has the like it's it's it's slowly pushing this log like yes the lower end so it kind of i hate this enchilada talk it reminds me of like the hispanic food yeah bro it's great it's like we're going from gold where it's like it was expected it was difficult to like hey i'm going to pay you an x amount of gold but i have to find a way to store it so instead we're going to create this dollar that signifies what gold should be so i just paid we pay in dollars that's redeemable for gold yeah graham's ahead of the curve he knows how i'm going with this but yeah but as soon as this upper so enchilada gets established then it will be quicker yeah that would have any time horizon on this yeah then it's like mr rice then it's the beans yeah it's a full meal yeah think of the ethereum that within like the like the salsa on top like guacamole if you will you know okay so what you were saying when the gas fees are like sour cream i'm making stuff let's just keep it going so what you said with robin is absolutely true what we're trading in robin is just derivatives right the representation of the shares and not necessarily the shares themselves that's how bitcoin is trying to become a currency is through something called the lightning network which i know you've heard of before and the lightning networks like imagine if graham and i wanted to interact with each other and the lightning network is a bunch of nodes that are all connected to each other and if graham and i connect maybe graham and i are also connected to starbucks or to uh what's the uh what's the coffee brand bankroll bankroll oh sorry this is smooth now for sale at bankrollcoffee.com faker coffee all right so let's just say that we're all connected to all these different businesses this money bitcoin would be routed through our channels so if you and i wanted to send bitcoin to each other rather than transact on layer one which is expensive we would open a channel together we would deposit our bitcoin enough to cover the cost of those transactions we would transact infinitely instantaneously cheaply and when we're done we can close out our channels and we can settle then on the layer one does that make more sense yeah totally so how often would layer one settle is this something like i'm gonna put like 50 grand bitcoin in this account trade instantaneously and like every week it settles or right that's a good question so initially it seems like we'd be closing it all the time but opening a channel and closing it you have to pay a fee on layer one so it kind of doesn't make sense so if you want to create a channel you're probably not going to close it for a very long time so i will say that like and i know i'm going to upset a lot of people that believe in the lightning network but the lightning network is something that's been promised to us for i want to say like the last six years now and it's been perpetually two years away and it's not i mean it's here but not to the degree that we'd like to see it just because the technology itself is so so so complicated that okay so let's get deeper so bitcoin works on uh game theory it's an incentive theory where humans are incentivized to be greedy because we are we're humans are greedy right so bitcoin works because we're greedy that's why we have miners they get paid fees miners are not doing this altruistically they're doing it to get paid these fees right the lightning network is not necessarily aligned with the right game theory in order for the lightning network to work game theory kind of falls apart because a lot of lightnings i guess security issues stem from people needing to be altruistic they need to not screw each other over there aren't so many fees and stuff like that i'm not going to get into it because even i don't i don't understand the extent of how it works but just know that game theory doesn't work on this second layer as much people have to be trusted to do the right thing bitcoin works precisely because you don't need to trust me to do the right thing i have no choice bitcoin works the way that it works because of game theory and if you develop a new technology to try to interact with it on it breaks down because now it's a completely separate thing and so just as graham was saying when we had gold it had its own problems right that was base layer one it was heavy it was expensive it didn't make sense we created dollars that represented pieces of gold which we then interact with right but at some point we got rid of gold and well at some point we printed so much paper that it didn't even represent that piece of gold anymore so that was the issue we came across and one of the arguments that i think graham was about to bring up is that we could experience the same thing on lighting where we're creating so many of these derivative coins that may not be it detaches yeah exactly it detaches from base layer one that's that's one of the arguments but but a deeper argument beneath that is game theory which again is just the technology doesn't work if you're gonna be selfish because there are times at which you'll have a choice uh do i steal money from this person or do i not and when that happens with money it just falls apart now again i'm gonna upset a lot of people in the crypto space like oh andre doesn't know he's talking about the lighting network probably but it becomes very complicated and for for me i'm not 100 convinced that the lightning network will ever be created it'll never really exist to the degree that we think about it but even so even let's just say that the lightning network fails and it just can't exist right let's just assume that let's assume the worst bitcoin will still be more more likely to be worth a million dollars by 2030 even if it does not become the currency of the world so you don't think by dangling this carrot of the lightning theory or the lightning whatever it's increasing the price of bitcoin drawing more attention very little to do what i think the the average person has no idea what the heck lightning network is i yeah i mean i've heard of it before but i did not i don't even think it's priced in it's not priced in though so if they were to say oh we're not going to do the lightning thing it's not going to i don't think it's going to what it is it almost reminds me of like tesla's autonomous taxi network it's not really priced in i don't think it is i besides kathy would believe in oh you know it's gonna be 3 000 a share right i don't think the average investor is looking at that and be like yeah that's going to be an autonomous taxi network in five years from now that that's that sure we're gonna buy that but there's so many things elon has said that i don't know if it's priced into the stock because he's promised the world and he's promised just everything yeah i don't know how much of it like you said is priced in or not but i feel like every time i talk about bitcoin like we're getting really into the weeds here it probably puts people to sleep but i i think game theory is super fascinating that is fascinating i like it yeah bitcoin works because people are greedy and they're selfish and bitcoin works because it relies on that i'm glad i got the answer to ethereum and why that like people like that so much did you do an ethereum joke i'm doing ethereum on the side a little bit yeah a little here yeah i think i'm actually nearly 50 50 ethereum bitcoin and then i'm like i got like a thousand dollars in litecoin um don't know what it does yeah okay so just someone told me let me ask you this why isn't litecoin the next thing to like blow up because it reminds me a little bit of like dogecoin in a sense where it's like you see it on robinhood right and you're like wow it's it's it's cheap relative to everything else let's buy this why aren't people why is why has nobody done that with litecoin yet yeah that's a good question i think the reason is and i could be wrong two reasons number one because it's an old coin right it's not exciting anymore it's not like oh guess what somebody created this new technology gets a lot of hype right so it's old news number one number two i think it lost momentum and steam when the creator of litecoin sold out and he just sold all of his position and he left the project that's what dogecoin did true true but for some reason it didn't have a stain on that project the same way that it did for litecoin people just had a really bad experience when that happened and i think that kind of killed the momentum of litecoin and it just never came back part of me always looked at like going to be like you know what maybe just throw like 50 100 grand in it oh wow it did well for me so far litecoin yeah well the only reason i say that is because it just seems like just in terms of human psychology when you're looking at the stats you have do you have dogecoin the least expensive and then litecoin right robin hood yeah actually a lot of investors will do this they'll look at the top five or let's say coin i don't know what what it is on coinbase like the top five but like you said if they see bitcoin at forty thousand and ethereum at four thousand they see litecoin at a hundred dollars 200 it's like oh well of course this one is cheaper yes and so people will invest in it shortly yeah now i'm not saying that that's any representation of value or what it means it's a good deal i'm just like psychologically oh yeah i i bet a lot of people do that with dogecoin they looked at it being like it's a fraction of a cent let me buy a hundred dollars worth 100 that's what happened ethereum classic as well yeah ethereum classic i think was 100 200 and i was like oh great this is like a discounted ethereum yeah people bought into it now if you want to hold on to it for the long term i think is a whole different question i wouldn't be willing to but knowing crypto i know like a year from now people can be like oh that andre he's an idiot look like coin's at 10 grand now yeah well i would be shocked but i could honestly see litecoin going from like 120 to 500 bucks 600 just at least something relative because even when you look at the recent like when when bitcoin hit 60k litecoin basically just hit its all-time high in 2017. okay it never went beyond that see for me whenever we talk about this kind of stuff that to me is like the epitome of gambling and i and i saw this in 2017 when all these icos were being created and people were like yeah but there's new technology and it's going to go to the moon and the exact same reasons and you could be 100 right but i feel like at this point because we have bitcoin and ethereum which are taking like 90 market share if you're not gonna invest in those and you're just gonna speculate on the other ones to me that's literally no different than going to the casino and playing blackjack you could be 100 right or you could be wrong and it goes nowhere and you lose all your money like if you want to take that risk that's fine but i think that fuels the narrative of crypto being speculative is like when people think like that i don't think you'd lose your money i would think you lose the opportunity cost of not investing in something else um i don't know i feel like if you really focused on bitcoin and ethereum if you know that's a surefire bet like yeah long-term long-term degree 100 so why speculate short-term like i feel like that's what really scares people off is this talk when you're like oh my god my head's exploding with information bitcoin ethereum is so complicated and it's like now let me introduce you to litecoin and dogecoin and like you're just like dude forget about it it just gets too speculative so you think that bitcoin and ethereum not like literally but are really kind of the only like legitimate ones no no not not true no i think there's going to be a few cryptocurrencies in the future that are going to be a big part of the economy i don't know which ones i mean people speculate like cardano is going to be maybe in ethereum but right now it's really maybe bitcoin and ethereum not to give you like not to force a hot take on you right right but maybe only bitcoin ethereum honestly i'm not like an expert in any of this stuff not bitcoin not ethereum not even like altcoins so i can't answer that for you there are other people that are like way more knowledgeable about this stuff i'm pretty sure there will be i don't know what they are and i would if i have bitcoin at ethereum this is something warren buffett by the way uh something he said he said if you have one good idea for an investment and i'm paraphrasing your second best idea will never be as good as your first so if you know that bitcoin is your best idea let's say or ethereum why would you ever go anywhere else if you know that you only have one best idea right that's probably why he's worth like a hundred billion dollars yeah it doesn't make sense to to to stray away huh so what's up with this cardano huh yeah what is it what does cardano do how much is that going to be worth what's your price target when you've been trying to get charles hoskinson the creator of cardano on youtube but and and he followed me on twitter and i reached out to him but he hasn't responded yet so i'm waiting but i'd love to have him on if you're watching this andre wants to have you on charlotte i would love to have charles on he's really really great he's knowledgeable yeah do you know anything about cardona what does it do no i i don't i don't even want to comment on that because i know people can be like no idea we dug it about so i'm not going to try that's fine neither do i and it's so crazy because with crypto it's so intense like with stocks there's there's only so much information you have to look into to be like okay i think this is a worthwhile stock to get into this this company's balance sheet looks healthy enough to where it looks undervalued i'm going to invest in it yeah well with crypto it's like there's it's like a never-ending black hole of information so it's like oh what about bitcoin what about ethereum what about cardano that makes sense you don't know one nuance and then people just jump on you for it so you miss one why don't we call out some scams what are some things what are some things that you would say like that's questionable no that's literally putting me on the chopping block with crypto it's like you say one wrong thing we've moved on to like a newer era of investing where if you say anything bad about anything even if it's a blatant scam like what was it bitconnect bitconnect was even at that time if you had said big connect is a scam you would have been destroyed why do you think people take it so seriously i think like take it personally yeah that's a good question because the people that invest in the most speculative investments generally are not i would say the most clued in and the most i want to say intelligent but the most maybe educated about what they're doing and they're as a result probably not the wealthiest either and so to them these investments represent their escape to freedom like it's it's like don't get in the way between a mammal and it's food like if you get in the way you're going to get mauled so it doesn't matter what you say about these investments if you have nothing positive to say just get out of the way and don't say it yeah you know what it reminds me of a little bit that uh the fact that you say anything negative could influence the price oh absolutely that cryptocurrency and because of that it's costing them money right so if if i say i don't like this stock and the stock price goes down a cent that's costing somebody something exactly and that could be their livelihood whether that's right right or wrong it's literally taking food off their yeah yeah yeah if you hate on index funds no one's like you know here's the thing like i talked so much uh crap about bit connect back in the day i got so much hate and yes i remember one of my big connect videos was more dislikes and likes which is like never happens on youtube unless you really mess up but i'm like i'm right about this at what point do you got to be like i'm i'm doing a public service i'm protecting people because eventually i'm going to be right like what can i save 100 people from investing in this thing and losing their money if in the short term it causes you know some people to question their investment and get angry yeah that's a really good question i guess that comes down to who you choose to be as a person and i guess i've chosen not to be the moral arbiter of truth when it comes to things like i'll just let people find out for themselves and i don't want to stand in anybody's way of making or losing money if that's what they want to do i want to talk about what i enjoy and what i think is the best investment and that's what i think and i'm not going to try to put anyone else down even if i believe that it's a scam uh completely unrelated to scams or anything andre there's this video that you took down about this coin yeah um you know unrelated to you know what we were talking about uh what can you see you know what can you say about that coin you know without naming the coin oh gosh no we didn't what coin is it oh is it it's not even talking yeah we could talk okay this is the first time yeah wow i don't know much about it other than the video that i made on it so just for anybody unaware that was called the million token right from tech lead um so he released that token and i guess when he launched it it was supposed to be backed one dollar for every coin that he released and it was only supposed to be a million well it turns out that i think he initially put in like 50 000 into it and it didn't have the full million but by that point when he was quote unquote exposed for not having done that the project was so valuable that he could easily just liquidate his holdings and represent the million one for one so it was just more of like a political witch hunt i guess right yeah and so a creator uh coffeezilla made a video on tech lead and they had this like what i like to call the most toxic collaboration on youtube i've ever seen it was interesting it was interesting like there's back and forth yeah i can't stand those uh when they're just like back and forth arguing with each other right and it's so interesting because i feel like tech lead really got coffeezilla to play into this project like he played him like a fiddle he really did this intentionally now when i released my video and i saw coffeezilla release his i was like oh gosh well if it's true and if this project really is a scam i should probably take my video down because i don't want anybody else to get hurt and for doing that i started to notice like my youtube channel started to get negative comments and i'm like what's going on that's when i found out what was going on and to this day none of it makes any sense to me because even though i took my video down tech lead and coffeezilla have made these videos back and forth with each other meanwhile i take my video down you have to remember tech lead is making money off of his project he's making money off of his videos coffeezilla is making money off of tech leads videos they're having this toxic collaboration where they're both making money off of each other and i'm the idiot in the middle that's not making money off of anything and i'm just like gosh i should just take this video down because it doesn't make sense i think the moral of the story is to keep the video up because once the video's on youtube for the most part it's it's up there somebody's downloaded it somebody's reacted to it somebody's responded to it well somebody could find it and then if you take it down the immediate go to is what is he hiding right why did he have to take it down he wouldn't take it down if he didn't do something wrong right right and that's why i've always had this this philosophy worth like if i post something up there i'm gonna keep it up right and it's just because otherwise if you take it down now it's like you know i'd rather yeah generally i agree with you i took it down and i waited until tech lead made a response that's what i said i was like i'll wait until the creator makes a response that makes sense i'll put it back up tech lead never really made a like a non-sarcastic response that i understood because all of his videos are very sarcastic so i watched all of his videos but it didn't feel as though he had dressed directly it was like character assassinations back and forth what's interesting to me though is that after i made my community post explaining what happened explaining my position coffeezilla made a comment on my community post that's like oh well you know good job you made the right decision and i'm like oh that's cool and then i'm like wait a minute these these two guys are giving each other so much toxic attention and this project is getting so much attention and coffeezilla's making money off of this project because they're making videos about each other how is it my responsibility to take my video down meanwhile he's making five or six videos on his million token it's just kind of it's a double standard it doesn't make any sense because i have nothing to benefit from coffeezilla's making money tech leads making money and yet coffee's like oh good job taking it down like wait a minute should it be your responsibility to not make videos about this either because you're giving it way more attention than my one video did well i think the difference is that coffeezilla really called it out negatively i think your video from what i remember was neutral it was neutral yeah it wasn't positive it wasn't negative it was right in the middle right and so people can interpret that however they like they could interpret that positively or they could just be i'm not interested kathy zillow was very much on the side of this is bad this is negative these these are these are these these lies sure um but he's smart enough to know and so is tech lead and so is coffeezilla they're both smart enough to know that regardless of what the message is positive negative or neutral the end result is that you're still bringing more attention to a project that coffee zilla otherwise believes is a scam i don't know look you're right you bring more attention to it but at the same time i bet that the net change in people buying and selling millionaire token considering coffee zone making these videos is probably fewer people no or you think so i know so that more people bought it after coffeezilla made his videos yes but then again wouldn't these people just be negligent no matter where they go into it is this like at least knowing that like hey this is what's going on let me take a risk on it the general rule of thumb for crypto and this isn't always true but it happens more often than you think is that whenever a project is having negative publicity and negative attention that's when people buy in more because they see it as an opportunity they're like oh it's dipping i should buy it now and whenever somebody praises a project and believe it or not i've seen this on my own youtube videos whenever i say something is going to the moon or something is a really cool project that same day the project will dip and that's just because people assume they're like oh well if andre found out about this that means we're at the top right now the public is talking about this so to answer your question that attention that they brought on the project actually had a net benefit effect and i i'm telling you both of those guys are smart enough to understand that so i i don't want to be the mascot of of you know the scapegoat for all of this negative attention that's why i took the video down i get that i don't know it's as far as my thoughts not that not that anyone asked for it right i'm pretty much neutral on this too i think a lot of the accusations that were made not the biggest deal to me i would see these things and just be like all right there's i think there's a lot of nuance there and like not putting up a full million it doesn't really seem needed there is no evidence that he cashed out he made money on the project but he should make money on the project because he created it i don't see that as an issue it didn't have the most success i mean it it moved right when it launched i mean gosh it went all the way up to 200 and something it had like a 200 million dollar market cap which was nuts now it's down to like 16 15 million so it's so whoever bought it 200 and it's now down at 16. they lost a lot of money that's a lot for sure but for the people who bought in at a dollar i it was a smart concept for sure i mean it was part of me thinks it's like not that i would ever do this but like why didn't i think of it it was one of those things oh yeah where it's like putting up a million bucks as a social experiment and just back it with your own money for a million bucks i mean like there's nothing you could lose on that i'm not discounting that as something i wouldn't try like i would love to do that at some point and just because he's done it doesn't mean that it can't be done again i feel like that's something i would love to try at some point i i don't know like i don't have plans for it but i'm just saying like you said it's a great idea it's a good idea a great idea i bet he had to have had so many lawyers looking through this because the the thing with tech lead is that uh he's not dumb no he's really smart and i think he he just thinks on like a like a a level outside of what like most people are are in this like sphere of like where they think i think tech lead is like over here and just think of all all these abstract thoughts and ideas and what could happen this and that so i think i'm thinking he's planned like five moves ahead and isn't gonna get sued is not gonna subject himself to the sec but there were some things he was saying like it could go to the moon this could be like some of that wording it kind of got me where it's like it feels like a security it does speaking of securities yeah did you see uh coinbase being i did regulated potentially for the lend product yeah so for those not familiar so because i was doing a lot of research on this today are you making a video about this tomorrow audrey are you going to make a video about it no comment ah yeah we always do this and do you you know the the thing what is it it's thursday today yeah thursday day right okay you know what the thing is we we gotta we gotta settle this really quick before we go into this people think that we collaborate on video ideas right and we post at the same time so let's address this let's squash this beef right sure sure why why does sometimes you post at the same time as me we both you you were posting at 3 15 yes and you went to 3 30. yeah i posted 3 30. right and i've been doing that for five years that's true so the reason that i did that i think i started at three originally then i went to 3 15. and it's not because i'm trying to release the video at the same time as you are it's just genuinely sometimes i'm so late on my edit that i'm just like oh gosh i can't make my 3 15. so my next slot is 3 30. got it and sometimes it's 3 45 or 4 whenever it might be but i try to make 315 but it just doesn't always work um that's generally why it's nice at 3 15 because once they're done watching your video yeah they hop on over to grams so let's do that 3 15 tomorrow for me and 3 30 for you i can't promise you something maybe we'll post at three yes sometimes i post to three because because my strategy sometimes is posting on an off hour and people are like why is it early yeah if it's breaking news they realize that like oh my gosh it's a different new video you can't do that all the time and if you get like inconsistent too often they won't watch it absolutely but like i would say maybe once to twice a month i'll post early right that's it so on occasion i'll do that but i can i'll try to do that too if i feel like the video is maybe going to be slow i'll change up the time yeah it's a psychological thing yeah for sure but people always think that we collaborate on business we've never been talking about videos ever or like we never recorded that would be horrible and people don't realize that like if we said like hey let's both make videos on this topic we're doing both of us a disservice right both doing the same topic i think it it waters down the overall content right for each of us so okay it just it just so happens that we i guess just make the same videos so clearly we're doing the same video tomorrow so i have something i feel like i dug really deep into the research for my video tomorrow so tonight yeah who dug deeper who's who went deeper oh gosh that's that's a loaded question uh yeah there's there's a few interesting things i found out about i suppose why coinbase is targeted because like brian armstrong the ceo of coinbase right he feels really slighted he's like why it's not fair since you're so researched all right explain the issue with uh coinbase lend coinbase lend yeah yeah so coinbase lend is their program to lend out usdc right the stablecoin at four percent and they worked with the sec to try to release this product which was mistake number one i don't think brian should have ever contacted the essex they should have because they're a publicly traded company and if the sec cracks down on a product like that when they're publicly traded that is disastrous for the stock so they have to sort of it's better to ask for forgiveness than it is for permission that's my philosophy what happened with robin hood savings account where they just unleashed it and then yeah and then yeah the fdic hey and that was disastrous and they weren't because they'd be treated and that's not because they didn't ask that's because they weren't fdic insured they should have done that nothing to do with their permission but i would i would beg to differ okay i beg to differ because it's all it's all in the interpretation of what they call it bank account versus cash management okay fair enough i i think that coinbase shouldn't have asked permission because there's another public company which i'll explain in a second that does have this product which is voyager they have a an interest rate program as well so the lend program so they reached out to the sec the sec says no you can't right you can't do this project because that's considered a security and brian armstrong the ceo started to tweet storm saying this is some sketchy behavior by the sec who are they trying to protect they're clearly trying to protect the legacy banking system because we're paying way more interest on our accounts than you know the national average of 0.06 whatever it is so what i figured out and and there's two real there's two things there's something called the howie test which i don't know if you covered right i did the howie test and the securities act of 1933. first page jeez yes first player yeah this is crazy this is hilarious the first page man oh my gosh let's drop i'm secretly lying that's not [Laughter] how long is your video it's going to be yeah it's like 13 and a half 13.50 mine's going to be like 16. oh but he has like a minute and a half shows and actually yeah and i'm mentioning things in there i mentioned if you want to watch mine because mine's more brief and condensed i want to watch mine because i simplify things a little bit yeah but you'll have a lot more sponsored messages but mine's a lot more interesting no sponsored messages there's two and a half minutes oh yeah sorry i don't i don't fill my content with magic tricks yeah you get sponsors instead you're making money andre oh hey hey there's no magic tricks tomorrow i'm just saying but the only magic is that people are going to watch my video first okay okay fair enough we covered the two reasons right we covered the howie test and the sec but so i i kind of resp so i responded to brian like this this is this is this is what i'm most proud of that in the video that i said um the reason that the sec is targeting coinbase specifically whereas they're not with voyager is because of how the interest rate model works on coinbase versus voyager the interest rate model on coinbase is through lending lending is considered a security because it just is it's a lending product so it's considered a security because in 2008 when we had the collapse it was a result of the uh securities lending yeah right let me clarify actually uh as somebody's researched this topic it's not just lending okay lending is total lending is not a security it's when you're lending in conjunction with a pool of other people yeah on the efforts of somebody else and they say that's the how we test yeah we're going to cover this right you're saying but you're saying that that lending is a security the fact that you're lending it's not that you're lending it's you're lending it i think you're full of other people i think you're nitpicking yeah anyway that's not what i was trying to get at all right what i was trying to get at is that coinbase's interest rate model base is based on lending right so we make money through coinbase if they have this product out based on the money they lend out to their clients okay voyager is not targeted by the sec even though it's a public company why do you know this uh i'm letting you show us if you know all right so the reason that voyager is not as targeted as for two reasons the size of the influence of voyager because they're like exponentially smaller than coinbase is first reason the second reason is because their interest rate model is based on the bid and ask spread whenever you buy bitcoin on voyager let's say you bought a thousand dollars worth of bitcoin they would find you bitcoin for 999 they pocket the difference with that dollar of profit they pay you interest on your money that is a significantly lower risk model than lending does that make sense so they incentivize you to hold rather than to transact no that's not what i was trying to trying to say so the way voyager makes its money through this interest rate product right is through basically scalping your order that's what they say we don't know if that's actually the truth i'm pretty sure it's the truth i would be shocked if they're making that much money on scalping uh bitcoin on the platform to pay if what their interest rates are probably the only way they make money right yeah but that's just one of the ways right like robin hood right right but but there but part of the howie test is is is saying that coinbase is using this lended usdc to fund business operations i would be shocked if voyager was not using your usdc or bitcoin or whatever to fund business operations in some way or another they have to maybe but like i said because voyager is exponentially smaller and the influence they have on the industry is not the same risk model as lending out our deposits the sec is looking at coinbase differently because they are lending our money and that's what really massively fails the howie test i would say the biggest thing for me is just the size the size publicly traded and they brought this to the sec and the sec is just against cryptocurrency in general they want to really regulate it um and i think for them upfront there's no way of making sure that that coinbase couldn't ponzi scheme it in some way because they're lending money who's to say they're not lending money to somebody else who's lending money to somebody else letting money somebody else that's way more tinfoil hat theory than me is it is it it's possible i i would be shocked but for the sec to make sure that isn't happening for the protection of the people my position is gary gensler the the chairman of the sec is not like an evil dude he just wants to make sure that 2008 doesn't happen again in crypto and so his approach is to look at every project and every platform independently because if what graham said was true if the sec really hates crypto and they really want to regulate it they would have regulated voyager out of existence yesterday but they haven't yeah so why because they want to make sure that the innovation we have in the us based on crypto is not stifled because if we shut down crypto and we're like hey lending stable coins crypto's illegal we're going to lose so much business and so much technology it's going to go somewhere else and they don't want to do that they want to make sure to regulate us only so that 2008 doesn't happen again and coinbase's model is more conducive to that i don't know what did they do with ripple you know they called that a security right couldn't that be stifling innovation coinbase had to take it down well it depends how is ripple making its money how what is its effect on the industry again i would argue ripple is a far bigger project than voyager i feel like i need to rewatch this segment like five times to understand point being coinbase was shut down by the sec they said no crypto lend uh coinbase came back saying this is unfair i think they're going to try to work out maybe a middle ground or something but uh sure overall i don't know i i feel like things should be a lot looser in terms of regulation on that but uh yeah also that's the reason why blockfly is being regulated by the states yeah they're getting crap for it because they have the same interest rate model they lend our money to their clients again voyager doesn't do that that's why they're not looked at as much what blockfi is but anyway but they say that again i again i'd just be shocked that voyager is not doing that because blockfy could just say oh yeah we're using our cryptobots to go and trade and with your money we do this we pay you back a percent but they're not i mean they're i think they're honest probably and uh that that's bad because they're they're being honest and and maybe they don't comply with certain regulations certain states in the way it's defined but i would be shocked if voyager is literally making their money from that yeah i guess we'll find out yeah but either way i think our titles are probably gonna be the same tomorrow too what's your title i'm not gonna i don't think it's gonna be i'm mentioning this you already have you don't have your time no i literally put title undecided okay so what i'll do is i'll post uh after you okay and then when i see your title i'll make it better sweet sounds good but after i get the views no i don't know i'm probably going to title it something different it's pr maybe it's going to be crypto related i'd say 50 50. okay yeah because i mentioned a few other things okay yeah now i'm just focused on on this issue yeah so if you want to hear this issue you're saying i'm regular we have a multitude of things very exciting things yeah yeah i talk about five things tomorrow yeah if you don't want to watch sponsors and the other two and the other two things then yeah well if you don't want to waste your time watching magic tricks who doesn't fail just fill it long enough for you to place mid-roll ads in the video over here come watch my content if you don't want to watch magic trees oh god sorry if you don't want filler content to try to get it to 10 minutes yeah go watch monsters that is so funny that impression was oh that's nothing all right well we'll see what's happening i'll watch both videos thank you i'll let you know thank you wow where did we go for that one that was really good what else yeah oh yeah my newest investment let's see it all right i want to see you guys are you guys ready for that yeah i don't think you're ready love to see it all right i know what it is do you know what it is yes i know what it is and this is going to be eclipse exclusive because it's a visual content wow yes subscribe down below to the uh clips channel this is only going to be available there since this is a visual right so i show wait andre to entice them yeah you know the clips people how much did you spend on this investment i'm not gonna say how much but i can say uh what the original listing was uh listed for yeah yeah that would be good it was listed for 220 dollars [Music] wow that was incredible that was cool that was so cool i'm so glad i watched that on the clips exclusive channel whoa that was awesome it was like time traveling i know thank you so much for showing us that can you believe that jack i really can't i'd rather watch this than sponsors well i'd rather watch sponsors than magic anyway uh any what else is going on for you man like uh personally and you don't really go into uh your personal life that much yeah i'm throwing a housewarming party pretty soon because the house is finally done which is awesome congrats to me yay congratulations yeah it was pretty cool and other than that i'm trying to do more sponsored videos so i can be like graham so you could buy a 4gt2 you are going to buy tesla right i was yeah model y and i still am but they've pushed the delivery dates like december from now there's no way you can get around that no i'm not that hot what about a model x i'm not sure i'm a huge fan of the model x like it's cool i just i'm not sure i like the going doors uh-huh cause they're like they're cool but they're not as practical as normal doors because you're driving a civic right now right no we're driving a corolla oh my girlfriend i are sharing in corolla and then corey she got a new job with jeremy she did that was pretty cool so now cory works at home so we can actually travel places together and she doesn't have to ask somebody for permission to get off work that's cool which i think is awesome so what's the next step for you like what's what's after this or what's what's coming up in the next year yeah you're trying to create an app that is tied to a cryptocurrency like what tech lead is doing but it's tied to a game of investing i want to do everything that robin hood wished they could do because it's a game it's not real investing it's just like paper trading it's gamifying investing in a way that's never been done before that's right so so it'd be like an app game yes it'll be like an app game that's fun to play and that gets people encouraged and motivated to invest but it could also like teach them stuff exactly and the financial incentive behind it is that there's a crypto stablecoin that i've created wow that's interesting yeah so it sounds an awful lot like a security no it's a utility token huh yeah when is that gonna launch i don't know yet we're working on it it's been over a year now that i've been working who's we just me and someone else's team from new york oh it's working on it yeah but if you guys are talented crypto people reach out i'd love help with crypto it's so complicated i'm curious how it's when you say a game is it uh because robinhood is kind of gamified investing right make a trade you get like confetti right it's just like paper trading but on like steroids like like all the gamification is amplified by 10 like you make a trade like the screen flashes it's it's some variable value and is it tied to actual values of stocks like does it track the market and then like incorporate that yeah it's interesting it's real-time data and everything yeah and the financial incentive behind it is that you know if i actually incorporate real stocks or real money that would be really potentially scrutinized but if it was a crypto or a stable coin maybe that's different so that's what i'm hoping could you buy with that stable coin could you buy or is it only used for like in-app purchases maybe it's something you huddle for life i don't know i'm thinking through it okay yeah i think it's a pretty cool idea that is interesting i'd love to like hear more about it but i'm assuming you probably don't want to divulge too much while it's still on the beta yeah either way it's not yeah i just i'm still learning about it but even if i tell people it's it's the thing about apps is just it's not the idea that's valuable it's the execution that's why like one of the things i actually don't really like is that i don't know if you experience this with sponsors is like hey we want you to sign an nda it's like i want to i don't know okay i've had somebody ask me to sign an nda and i can't stand that like ndas make no sense they're worthless yeah yeah it's like dude ideas are a dime a dozen i don't want to sign your nda and that's going to prohibit me in from like working on this idea potentially here's a great idea banana-powered flying vehicles if somebody creates that tomorrow does that entitle me to royalties no right so why should an nda yeah indies are a waste but the app id is really interesting we got uh with jeremy it's called the hungry bowl yeah that's all i'll link to it down below in the description or anyone who wants to try that out but uh we've been going now for a few months wait was that smooth was that nice nice intro looking directly into the camera like yeah that'll be down below in the description where you could sign up and try it for yourself let us know what you think let's just say we got almost 30 000 people on the app so far it's it's still a work in progress i would say uh maybe we're 25 of the way in terms of doing exactly what we want to do on it um and there's a few other like ideas and stuff i want to implement like right now it's really just like the bare bones and you're getting in at the ground floor if you sign up right now it's free totally friends no not out there it's a good yeah i like it as a as a customer of the app i like it listen if jack likes it that's that's the best endorsement you could ever get is your goal to sell it to blackrock for billions i don't know i don't know what the goal is it's it's something new that's what i like is it something new it's something different it's outside of youtube uh could try a different endeavor i like that aspect of it whatever ends up habit i have no clue but i like the fact that it's not necessarily reliant on myself it could grow independently of me and uh it's just it's something a little bit different it's cool and i think i think really right now it's it's it's going in the direction of just eventually becoming an app that i wish existed for myself right right now it's it's it's it still needs more so i acknowledge that you know what i want to know though yeah what the people have going on at home i want to know what what their lives are doing i'm going to read the comments yeah try to reply to as many as i can let us know what you think of the sponsors of today's video down below in the comment section so we asked what's going on with you and you didn't say anything about your personal life you just you said uh you know the app you're building and stuff so what's going on with you got no life man i've got no personal life yeah i don't have a life i just i'm just working to do youtube all day where do you see yourself 10 years from now about that alive i hope i don't know i i hope that i'm still enjoying what i do and i think the most i ever ask for is just to be happy and content where i'm at and beyond that is just speculation i just like i don't want to predict it i just want to be happy what about you graham 10 years from now yeah uh buckets of money [Laughter] hopefully yes hopefully a lot of sponsors i don't know definitely i think 10 years from now um i want to take it easy a little bit more yeah yeah that's a good goal yeah i took uh what was it i took labor day off yeah i have to say oh man i had not taken it like a like a and here's the weird thing i worked that day you did yeah oh yeah that's where i got all my reaction videos done oh yeah that was good but it was it was weird it was like i told myself i'm just gonna take the day off and i got some of the best work done that day it was the weirdest thing and i had almost only reacted to stuff okay true which is but like once you take a week or two off in your life like purely without work you'll never be able to go back because you realize that life's just about enjoying it not just working but no but i took the day off and i thoroughly enjoyed work it was it was a it was just a fun day where i woke up i slept and slept in like you know eight a.m uh just read the internet for a while like two hours uh took a shower a nice breakfast did a whole bunch of great reaction videos at a fun time uh went to the gym for like a solid hour with the jacuzzi i i think macy and i would actually heat it up it did yeah oh yeah yeah yeah so i've used the jacuzzi quite a bit and uh i found out that gas is really not expensive at all how much does it cost uh the gas bill went from like i think like 15 dollars like 20 bucks a month so it's like so that's five bucks are you leaving it on now uh no not all the time i just turn it on for probably like an hour it heats up within about an hour so i could turn it on to use it great for you man yeah graham's got no soul i i think you probably had such a great day because you just took it easy you know you worked exactly there was no deadline to be like yeah oh my god during the week if if i don't hit the deadlines for every single day i'm behind and i have to make it up that's a stressful way of living though i do take that's required if you want to continue growing on the on the platform and continue like pushing away you have to do i don't have the luxury of just you know i'm not saying take off i'm just saying don't stress about it as much but you don't think there's there's a happy medium like a way that you can right now there's not because i know you have have are we allowed to announce that maybe by the end of this year let's announce it all right yeah so i think it's good that you took it easy man you've earned it you don't deserve it but you don't deserve it but you earned it uh at some point at some point they will but uh i love cryptic podcasts yeah yeah so what are you up to secret stuff you can't talk can we talk about it no oh what about you oh you know things really cool stuff working on beyond scenes can't talk about it though at some point at some point i want to just uh scale back a little bit or do things in a way that's uh uh what was i about to say do things that uh that can free up more of my time so i think i think if i if i could get some of my time back it'll really help and be honest would you use that free time to enjoy yourself or use it to put it into other ventures that'll make you i want to go and make more money i know i i don't know i want to get really i want to get really into fitness i don't know i've had to say that i think yeah i just want to get ripped something productive that moves graham forward i could see yeah i could see myself if i'm not if if i even just like get get i don't know an extra 15 hours a week i'd probably put that in fitness because i i honestly i looked at uh i saw that cnbc millennial money video earlier i hated the way i looked honestly no really it was like to see myself because because i see the difference between like two years ago and now right and i think it's just i'm not net in a place where i like i i look at myself like weight wise and i'm like yeah right no i i could get definitely in shape and i've sacrificed that so two and a half years ago when i started youtube i looked so thin it's like unhealthy but now i feel like i'm at a better weight but i could be definitely more yeah for sure so i was just thinking that do your arms look like they're really filling out yes because i'm getting fatter oh pretty cool i thought it looked good alright well on that note wave i just want to say something like like i do want to mention because i came back from los angeles and what was that monday graham yeah when i came back from los angeles you seemed in an incredible mood and i didn't want to mention anything because i i didn't want to like i didn't want to say anything but i was like thoroughly enjoying that like i walked in the door and you were all like happy and stuff like that's getting your reaction i know but like i remember i was walking up i was walking up to the front door and graham's coming up from the gym he's all jack wait wait i turn around like he watched me and then and then like he went told me i probably had to do something and then i went inside but i remember like so i boxed his car in and i didn't have my keys my dad had my keys and and graham was like oh you gotta like move the car and everything and i feel like if this was this was where during like a time in the week grant will be like i just beat you no he will he treats me well like extremely well but he would definitely like he would be frustrated you know and it wouldn't be so fun but then we solved the issue i was able to to maneuver the car out so he was able to take the car and we were having fun while we were doing it it's all relaxed and just like problem-solving in a joyous mood you know and i i really enjoyed like that monday and it was awesome spending time with you man i gotta say the same thing graham i walked in at uh 8 30 and graham didn't know i was here because it was labor day and he greeted me in the nicest way i've ever been greeted ever because you know what during the week if if i don't hit that schedule i'm behind like i gotta get that that's what it was he got a number one out of ten video no the algorithm hasn't been our friendly now the algorithm is yeah i know this is despite the algorithm yeah yeah no it was honestly just to uh just to take a day off i still got a lot of work done but uh but to do it like to feel like i'm really getting ahead and just to do the things that i wanted to do that day yeah and and i was a bit of a you know ahead on the main channel so it was awesome it's always a pleasure to be around you man but monday it was just a whole different level like it was awesome yeah yeah and that and that weekend we did the uh went to the grand canyon oh that's cool i thought it was that i didn't know it was like that you were taking the day a little easier yeah or less pressure but yeah so all right we'll see awesome yeah sweet so on that note thank you so much for coming thanks andre use my coupon code down below blockfy.com for slash andre we'll edit that part out thanks man i really appreciate it thanks peace are we leaving and then it's still recording and it's like oh yeah and then are we gonna cut to that camera