How familiar are you with cryptocurrency? Do you think “alt coins” are bunk compared to Bitcoin? More importantly… are you in the crypto market yet? In this episode I’ll share with you what I have learned about cryptocurrency, and why it is the “oil” of the 21st century.www.myindestructiblewealth.com
About Indestructible Wealth: I’m Jack Gibson. I’m your wealth strategist and I’m here to help you make some money. The Indestructible Wealth Podcast is for young entrepreneurs who want to make, keep and grow wealth to enjoy now, and for years to come.
Episode #56 – Crypto Isn’t Just About Money… It is Changing the World
Podcast Episode Transcripts:
Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
Where’s the market at these days? Where’s it going? Where are the big opportunities?
The conclusion: The crypto markets are going to go higher. A lot higher.But personally, I arrived at a much “bigger picture” conclusion. This isn’t JUST about making money. Sure, cryptos have made some folks millionaires. That’s great.But cryptos mean so much more than that. This is about fundamentally changing the world.
This is about a generation of individuals – spanning from teenagers to Boomers – who feel like they’ve been screwed over by “the establishment” for years, and are finally getting their chance. This is about leveling the playing field for those folks.
It’s about the kid who did everything right growing up, went to a great school like his teachers told him to do, got a great degree that made his parents proud, and yet still can’t afford a home because the market’s too hot and he’s sitting on $250,000 in debt. It’s about giving that kid the opportunity to get a home, pay off his debt, and start a family.
It’s about the 55-year-old who worked his whole life in a solid 9-to-5 job, never got in trouble, saved money his entire life, and yet still feels like he’s decades away from having enough to retire comfortably. It’s about giving that person the opportunity to pay off the mortgage, retire early, and enjoy the financial independence they deserve.
This is about giving people a fair chance.
Unmistakably, we have become a society of “haves” and “have-nots.” My mission at Indestructible Wealth is to help the “have-nots” become the “haves” – but more than that I want good people to make great money. But I can tell you that it is true. You feel it. I feel it. We all feel it.
Cryptos are the great equalizing force that society needs today, stripping away power from the few, and giving it back to the many. A modern-day Robin Hood, if you will. They are exactly what society needs today. They are exactly what we need today.
It was all the proof I needed to confirm my belief that cryptos aren’t just an investment – they’re a revolution.
And as a revolution, cryptocurrencies are going to reshape our world over the next several years, all while being passionately supported and adopted by a generation of folks who feel left behind.
This is an eventuality. It’s an inevitability.
Decentralized finance, or DeFi, is going to become the status quo, as we all migrate our finances onto the blockchain. Decentralized applications, or dApps, are going to become more mainstream as Netflix, Facebook, Spotify, and more all move onto the blockchain. As those things happen, guess what’s going to happen to the price of Bitcoin? Of altcoins? They’re going to go higher. Way higher. By owning cryptos, you’re putting yourself in the best position possible to make a lot of money over the next several years.
You’re also playing a part in the world’s biggest revolution since 1776.
What’s better than making a ton of money? Changing the world. With cryptos, you can do both at once.It’s the most compelling investment opportunity of our lifetimes – and the party is far from over. The total cryptocurrency market cap just eclipsed $3 trillion. Now, we’re at the stage where the questions of whether crypto will survive or be made illegal have finally been answered.
If you’re like most people, you’re skeptical of the “altcoin” market. Altcoin is the term used to describe any cryptocurrency that isn’t bitcoin. And what is the allure of bitcoin? Simple…
It’s a digital form of money that governments cannot control or debase… one we can transfer without the involvement of big, corrupt banks.For those who don’t place much trust in government or big banks, bitcoin is a great idea. We all know governments constantly debase their currencies in order to pay for wars, boondoggles, and social programs.
Thanks to government overspending and now the unprecedented economic stimulus in response to COVID-19, the U.S. dollar is worth half as much as it was in 1990. Folks in Venezuela have had it a lot worse. You might have heard how Venezuela’s economy recently imploded and its currency lost more than 99% of its value.
The country’s savers were decimated. People who spent their lives saving were completely wiped out by an irresponsible government. As a digital currency, bitcoin offers an alternative to government-controlled currencies and the injustices they inflict on citizens.
Most people “get” that. But most people don’t “get” why altcoins exist… why they are set to EXPLODE higher in value… and why they represent one of the biggest investment opportunities you’ll ever see.
The Fastest Legal Way to Get Rich in America
Skeptics like to point out that if we have bitcoin, why do we need the hundreds of other “altcoins” on the market? Surely they’re all just scams or fantasies, right? That might be the single most ignorant, most expensive belief on the planet right now. It could easily cost you huge amounts in lost profits over the next 12 months.
Here’s why… Right now, there’s a fuse being lit under the altcoin market.This fuse will set off one of the largest explosions of wealth in modern history. People who invest modest stakes in altcoins will make millions of dollars. But to truly understand the magnitude of this opportunity, you MUST understand that altcoins aren’t really cryptocurrencies in the way most people think about them. To know why many altcoins are about to skyrocket thousands of percent in value, you need to know that these assets aren’t “fantasy internet money”… they are actually investments in one of the most valuable, most revolutionary technologies ever created…
… and they will create a MULTI-TRILLION-dollar tsunami of wealth for their owners. Here’s how…
Remember, the underlying technology behind bitcoin and altcoins is blockchain. You’ve probably heard all the buzzwords surrounding blockchain.
It’s a “virtual ledger”… it’s capable of recording, verifying, and securing digital transactions… a blockchain is a series of confirmed and encrypted data spread across many geographic locations.
Now, you can think of blockchain and cryptocurrencies like that…But to truly convey their stunning wealth-creation power, we prefer to say that blockchain technologies are just really, really, really valuable software programs. If you’ve paid attention to what has happened in the world and the stock market over the past 30 years, you should be ready to jump out of your chair and buy altcoins with both hands RIGHT NOW.
That’s because software programs are the oil of the 21st century. They are one of the greatest forces for wealth creation on Earth. The discovery of oil deposits around the world in the 20th century minted millionaires faster than anyone could count. It was one of the fastest, biggest accumulations of wealth in human history. People went from being broke to having more money than their grandkids could spend… virtually overnight.
When I say software programs are one of the greatest forces for wealth creation on Earth, I’m not talking about conventional wealth creation… where it takes you 30 years to save up $1 million. I’m talking about wealth creation on steroids… where investors can make $1 million in one year. I know that sounds outlandish, but let’s look at the amazing facts right in front of our eyes…
You probably know who the world’s richest man is. It’s Bill Gates. Bill Gates became the world’s richest man because software programs are the oil of the 21st century. Just think about the Microsoft spreadsheet program we call “Excel.” How much time did Excel save the human race?
A billion years? Ten billion years?
Microsoft originally marketed a spreadsheet program called Multiplan in 1982. This project morphed into Excel, the first version of which was introduced in 1985. Excel is now the world’s most popular spreadsheet computer program. It has saved us stupendous amounts of time by allowing us to automate calculations and financial analysis… instead of doing single calculations by hand. One person running Excel can do the work of a million accountants from days past. That’s the power of software programs.
Over the past 30 years, software programs have created an explosion of efficiency and human productivity. A great software program can help you make smart business decisions, find travel deals, talk to loved ones, and get a cheap ride home. Software has massively improved our ability to communicate, share information, transact, gather data, and analyze data.
Healthcare, education, transportation, manufacturing, energy production, food production, retail, banking, you name it… computer programs have allowed us to do it much more efficiently. The equivalent of Excel saving us a billion hours of tedious work has occurred across all industries. Given all the time, money, and frustration software programs have saved us, it’s no wonder they’ve kicked off one of the largest, fastest accumulations of wealth in human history.
Just take a look at these jaw dropping statistics…
*In 1986, computer program leader Microsoft went public. Shares are up more than 240,000% since then… turning every $10,000 invested into $24 million.
*In 1986, shares of computer program leader Oracle went public. Shares are up more than 170,000% since then. Oracle founder Larry Ellison is one of the world’s richest people, worth over $60 billion.
*In 1998, two young computer programmers Larry Page and Sergey Brin founded Google and created the world’s most valuable search engine program. Both men are now worth more than $40 billion each. Their early backers made billions as well.
*Have you ever opened a PDF? The computer program company behind the PDF, Adobe Systems, has watched its stock price soar more than 5,800% since its founding.
*How about the huge ride sharing company Uber? It’s really just a good set of software programs. Uber went from being worth $5.4 million in 2009 to being worth a stunning $50 billion in 2019.
Early Uber investor Chris Sacca turned a $300,000 investment into more than $1 billion! We could go on and on and on… but we don’t need to.
You get the idea. You can see it every day. Software programs are the oil of the 21st century. They’ve become the world’s ultimate wealth creators… because we all place enormous value on their ability to save us time and headaches… and because they’ve made us MASSIVELY more productive. The fastest legal way to get rich in America is to own a piece of a valuable software program or algorithm. To the average Joe, owning the rights to a software program isn’t all that exciting. It’s not something you can easily explain or hold in your hand.
From a “wow factor” point of view, a software program can’t compete with a beautiful smartphone or a Tesla sportscar. Owning a piece of a software program isn’t something most folks rave about at cookouts and cocktail parties. That’s why most folks are poor and will never truly understand wealth creation.
Those who truly understand wealth creation know that if you want to get very rich in a very short time, you should invest in software programs.
No other kind of investing comes close to making you very rich in a very short time. Which brings us to the million-dollar point… Blockchain technology is about to unleash an epic new wave of computer program wealth. Blockchain is about to mint the next Bill Gates… the next Larry Ellison.
How to Put Your Retirement Plans on Overdrive
Remember, blockchain technology is simply a new way to record, organize, display, and transfer data. At its core, that’s what Microsoft Excel is. That’s what Google is. That’s what Uber is. That’s what Facebook is. That’s what eBay is. That’s what Airbnb is. That’s what all the software programs that have generated TRILLIONS of dollars in wealth for their investors are. Blockchain is about to unleash a trillion-dollar tsunami of wealth because despite all the advances we’ve made over the past few decades…
*Many of the world’s communication systems are horribly inefficient…*Many of the world’s monetary payment systems are horribly inefficient…*Many of the world’s record keeping systems are horribly inefficient…*Many of the world’s cybersecurity systems are horribly inefficient.
And when a system is inefficient, that makes it expensive for regular people. It makes it easy to gouge folks like you… and even like us.
To the Middlemen of the World: Good Riddance
Take title insurance for example…
You’ve probably bought and sold at least several houses in your life. How ridiculous is it that we have to pay someone hundreds – even thousands – of dollars to research and verify a property’s title history? It’s a TOTALLY ridiculous scam foisted on regular Americans. However, blockchain technology will make today’s parasitical, price gouging title insurance industry a thing of the past. In the near future, blockchain programs will research and verify a property’s title for you in seconds… for a tiny fraction of what today’s title insurance companies charge.This will save everyone who buys or sells a home lots of money and hassle. Or, take payment processors.
If you’ve ever owned your own business or worked close to the money in someone else’s business, you know companies that facilitate credit card payments – called payment processors – can charge you more than 3% of a transaction’s value. It’s ridiculous that credit card companies and payment processors charge small businesses 3% of all transactions. However, blockchain technology will make today’s price gouging payment processors a thing of the past. In the near future, blockchain programs will process customer payments for a tiny fraction of what today’s payment processors charge. This will save everyone who buys or sells ANYTHING lots of money. Or, take real estate agents. It’s a national disgrace that American home buyers and sellers have to pay hundreds of billions of dollars annually to real estate brokers just to sell their homes.
However, blockchain technology will make today’s price gouging real estate brokers a thing of the past. In the near future, blockchain programs will facilitate and execute real estate transactions for a fraction of what today’s real estate brokers charge. This will save everyone who buys or sells a home lots of money and hassle. Or, take your medical records. Many of us have multiple medical records with multiple healthcare professionals. Getting those records to a new provider is often an agonizing, infuriating process… and there’s a huge cost associated with all that inefficiency. It makes a department of motor vehicles look like a day spa. However, blockchain technology will make today’s absurd medical record keeping system a thing of the past.
In the near future, blockchain programs will record, store, and transfer your medical records for a fraction of what today’s medical record industry charges. Plus, it will make getting your medical records to a new provider a breeze. This will save us all lots of money, time, and frustration.
All this is why blockchain is “on par with technology like personal computers and the internet,” says John Bates, director of product management for software giant Adobe. This technology will disrupt more than a TRILLION dollars in the industry… many of which have been fleecing Americans for decades. (This, by the way, is why many entrenched interests are against blockchain technology. They fear the eradication of their rackets.)
Now… let’s go back and think of what Microsoft did… and why early backers became millionaires and billionaires. Microsoft Word and Microsoft Excel saved us lots of time, money, and hassle. Now think of what Google did… what eBay did… what Facebook did… what Uber did. Because their software programs did such a great job of recording, organizing, displaying, and transferring data, they saved us lots of time, money, and hassle.
They freed us up to spend money on things we truly enjoy… they freed us up to spend more time with family… they saved humanity billions of years of time… and a planet-sized amount of frustration.
And that is why we are so willing to buy software programs and pay for the value they create. It’s why we assign so much value to those businesses in the stock market. It’s why early backers of those businesses grow very rich in very short amounts of time. Chris Sacca invested $300,000 into Uber and made $1 billion! Early eBay and Airbnb and Microsoft investors made over 1,000 times their money!
When you change your perspective on altcoins, you realize they are not “fantasy internet money”… they are investments in systems that make our lives easier, more productive, and more efficient. It’s just like backing Microsoft in the early days. It’s just like backing Google or Uber or Oracle in the early days. When you buy an altcoin, you are essentially acting as a venture capitalist.
Forget all the words you hear when people talk about cryptocurrencies and blockchain.
They don’t matter much compared to these two KEY facts:
Valuable software programs are the oil of the 21st century, so owning them is the fastest legal way to get rich in America.
Blockchains are simply really, really valuable software programs… and they are about to unleash a trillion-dollar tsunami of new wealth.
Think about it…
Software programs made Bill Gates the world’s richest man,allowed Oracle founder Larry Ellison to amass a $60+ billion fortune, allowed Intuit founder Scott Cook to amass a $5 billion fortune, Salesforce founder Marc Benioff to amass a $6.5 billion fortune, Amazon founder and CEO Jeff Bezos to amass a staggering $116 billion fortune, co-founder of Microsoft Paul Allen to amass a $20.3 billion fortune, co-founder of Google Larry Page to amass a $47.8 billion fortune.
We can’t guarantee you’ll make $6.5 billion like Marc Benioff did, but we believe you can easily make $1 million for yourself and your family during the coming boom in next-generation software programs.
At the end of the day, altcoins represent a new chance to profit from some of the world’s most valuable software programs ever created. We like to describe them as the oil of the 21st century as they’re about to mint another generation of millionaires – in short order.
Again, we’re still going to have volatility. We haven’t escaped volatility. But we have most certainly escaped the, “Will bitcoin survive? Will crypto survive?” It’s worth $3 trillion. It’s clearly going to survive. So, that’s not even an issue anymore.
We’ve also moved beyond the issue of, “Will they make it illegal?” No, they will not make it illegal. It’s a $3 trillion market that every bank in America wants to get a piece of… The Head of the FDIC (Federal Deposit Insurance Corporation) is talking about making it a reserve asset, so banks can own it. So, no it’s not getting made illegal.
Certainly, the big financial firms and the big regulatory agencies don’t like it. They’ve created friction… Whether it was from accounting rules, or new tax rules, or these banks’ “snooping rules,” or now, this new rule that came out that they’re essentially going to criminalize not reporting your crypto gains.
The tsunami of wealth that’s coming with altcoins and the blockchain technology backing them up is due to their ability to make our time vastly more efficient and productive. That’s the goal of any great business model.
Early investors in the best altcoins are like venture capitalists backing the next Microsoft, Apple, or Google. It’s okay if most folks simply don’t “get it.” Those in the know understand how valuable software programs that disrupt entrenched, inefficient models and price gouging companies can be.