everyone this is stefan from
projectlifemastery.com and i'm here
right now at the coins bank cruise
courtesy of my friends at Bitcoin comm
and I'm sitting down right now with
Roger ver who is the owner of Bitcoin
comm and one of the early investors in
Bitcoin the first investor in ripple
which right now is the third largest
cryptocurrency and it's also where the
first investors and a lot of crypto
cryptocurrency startups businesses and
different projects so Roger thank you
for taking the time to sit down and for
sharing with my audience Thank You
Stefan so you might share with people a
little bit about yourself your
background and how you got started as a
Bitcoin investor sure so I was born and
California my whole life and been around
computers I actually run one of the most
popular bulletin board systems in
Silicon Valley back in the 90s for
people that are old enough to remember
BBS's before the internet was the thing
that it is today
and so my whole life's been around
computers and my hobby starting for
maybe late junior high school age was
studying economics and so I just read
every economics book I could get my
hands on and if you think about it
bitcoin is a convergence of those exact
two things computer science and
economics so I heard about bitcoins for
the first time on a libertarian leaning
uh radio show in reference to the Silk
Road and I wasn't interested in drugs
but I thought what kind of money could
they possibly be using for this sort of
thing so when I started looking into
Bitcoin I had the exact right background
to understand technically how it works I
have the right economics background to
understand why this was going to be
important economically and you know I
you can find some really old YouTube
videos be back in 2011 saying that
bitcoin is can outperform everything by
more than 100 times over the next two
years I made a public bet with the world
for ten thousand dollars that that would
be the case and at the time everybody
say here
nuts bitcoins stupid why would anybody
ever use this for anything and sure
enough here we are today I sure call
that one and today I'm calling the
Bitcoin cash is gonna surpass the BT's
Bitcoin in the future as well and I'm
looking forward to being right on that
one as well as remember how much she
bought the coin corazon sure so my very
first purchase of it when I sent twenty
five thousand dollars to the personal
account of the guy who founded Mount GOx
and everybody that follows the Bitcoin
space they had just kind of a soon mark
Karp Ellis was the better but no it was
gen McCaleb and I don't know if that
name rings a bell with you gently Caleb
then went on to the creator of Ripple
and so the original founder of Mount
then went on to be the founder of
ritalin later stellar anyhow I send a
wire to his personal bank account for
$25,000 in Bitcoin was less than $1 each
at the time so I did all right on that
one yes awesome so for most my audience
says watching this they're probably new
to cryptocurrency small percent might
own or investment but the majority of
people they might have heard about it
but they're not yet utilizing it and
investing in it what what what do you
believe in the importance of this why
should people start paying more
attention to cryptocurrency and start
investing in owning and utilizing it
sure so what I've been saying since 2011
is that the invention of Bitcoin meaning
cryptocurrencies in general is the most
important invention in the entire
history of humankind since the internet
itself that's how big a deal this is oh
it's right there up there unimportance
on the same level as like the internet
electricity the wheel the transistor
that's how big of a deal it is because
for the first time ever in all of human
history Bitcoin and digital currencies
allow anyone to send and receive any
amount of money with anyone anywhere in
the world instantly without permission
you don't need permission from a
president you don't need permission from
a king you don't need permission through
a bank you don't need permission from
anyone at all and it literally could go
directly from person to person without
needing permission that was impossible
before the invention of Bitcoin and that
helps bring more economic freedom to the
entire world and from studying economics
I realized that countries with more
economic freedom have a higher standard
of living for everybody so if you look
at the economically free countries like
Hong Kong Singapore Switzerland these
are great places to live if you look at
countries with less economic freedom
than North Korea's the Venezuela's the
Cuba's they have a relatively low
standard of living and so more economic
freedom leads to more economic growth
more economic growth leads to a higher
standard of living for everybody so if
you want to have everybody have a higher
standard of living all over the world
you should be promoting economic freedom
and the best tool we have ever had in
the entire history of the world to
promote more economic freedom for
everybody
our digital currencies and in Bitcoin
cash specifically it's at this point is
my favorite one but there's lots of
mouths they're ripple is great too
there's a thousand one different crypto
currencies take a look at them and use
whatever one is most useful to you and
we were just talking about it a moment
ago my favorite use case for these you
shop on Amazon writes you can save 30%
off every single purchase from Amazon by
using Bitcoin cash on a website called
per CEO prsceo 30% on Amazon that means
if you want to buy a product that
normally is $50 it'll only cost you $35
worth of Bitcoin cash that's a big big
deal and the way that work people
usually say how is that possible that
that doesn't make sense what's going on
is amazon has another platform that's
part of Amazon's business group but a
lot of people haven't heard of it it's
called Amazon Mechanical Turk and what
this platform does is it allows
businesses in high wage areas like New
York City or San Francisco or London to
hire people in low wage areas to do work
online and Amazon handles all the
payments in the platform for that sort
of thing so if you're in San Francisco
and you want to pay someone to do
something Amazon's Mechanical Turk
platform will handle that for you but
Amazon only pays these people and
Amazon's store credit so if somebody's
in you know India for example they can
earn a bunch of Amazon store credit
making far more money than they could
make working locally in the domestic job
market in India but the Amazon store
credits not that useful for them because
it might cost a lot of money to ship the
Amazon products to them and be able to
be crazy import tariffs and basically
this entire problem is caused by a lack
of economic freedom but the problem
exists so what these people do is you go
on in purse dot IO say what you want
from Amazon this person will then spend
their Amazon store credit Amazon ships
it directly to you you receive it direct
from Amazon just like normal and then
purse Tadeo acts as the escrow company
once you've received the product they
released the Bitcoin cash to the person
overseas they get the Bitcoin cash which
is much more liquid than the Amazon
store credit you get your Amazon stuff
at 30% off everybody's super happy
a win-win situation for everyone
involved so if you haven't tried it yet
first out is the website and it's a
reason for everybody to start using
Bitcoin cash great and now I know you
have had a lot of success as an investor
Bitcoin Ripple other cryptocurrencies
how do you approach is it you know
investing in cryptocurrencies
what's the mindset how do you determine
what you're gonna buy and what you
should invest in so the the price of
anything and I learned this from
studying economics the price of
everything is set by supply and demand
and you probably heard that in your high
school economics course but let's stop
and think about what that means for a
minute so with Bitcoin cash or specific
currency you know exactly what the
supply is going to be so the only other
variable there to affect the price would
be the demand so you have to stop and
think for yourself what would create a
demand for these crypto currencies and
to me it seems very clear if you can use
them as cash that's more useful to use
than traditional forms of cash or credit
cards or PayPal then people are gonna
start using it so if you make it useful
people are gonna use it and I think
saving 30% off on Amazon is pretty darn
useful I think being able to send and
receive money with anyone anywhere in
the world basically for free and
instantly with nobody having to give you
permission that's pretty darn useful so
I think the cash use case is the killer
app for these sorts of things so if you
make a digital currency incredibly
useful as cash Bitcoin cash that
increases the demand if the supply is
the same demand goes up then the price
goes up and a lot of people are looking
into cryptocurrencies they see Bitcoin
over life I wish I had bought it when it
was so much cheaper now at six thousand
dollars each well there's been a bit of
a civil war and feud within the Bitcoin
camp and the BTC version of Bitcoin
those people openly say that they don't
want it to be usable as cash they think
it should just be a store value and they
say that it's a good thing that the fees
are high and the transactions are slow
and unreliable well anybody that stops
and thinks for a moment themselves
can realize that a fast cheap reliable
version of cash is better than a slow
expensive and unreliable store value or
whatever the BTC campus trying to build
at this point so I wish them good luck
but from an investor it's so incredibly
clear Bitcoin cash has so much more
potential and I made another video I
think you could maybe you can put a link
to in your description where I outline
the ten things I think it was a of
exactly what attracted me to Bitcoin
early on erm I invested in Bitcoin today
the BTC version of Bitcoin only has two
of those things left the Bitcoin cash
version of Bitcoin has nine of those ten
things so from an investor standpoint
the exact same reasons I was investing
in Bitcoin in 2011 are the exact same
reasons I'm investing in Bitcoin cash
today
so you basically approach it as whatever
has the most practical use for the most
amount of people that's gonna have the
best long-term investment value and you
see that for those that aren't clear
there's a fork last year with Bitcoin
now there's Bitcoin cash but Bitcoin
cash you see it as a way more practical
use in Bitcoin you speed the less fees
and and other different purposes the
coin cash has all the practical use
cases that made Bitcoin popular to begin
with and the BTC version of Bitcoin the
one that everyone's calling Bitcoin in
the media it doesn't have those
characteristics anymore the transactions
are slow expensive and unreliable if in
2011 I started promoting Bitcoin to
everybody hey there's this new thing you
can use and your transactions will be
slow expensive and unreliable give it a
try today people would have laugh be
right out of the room but the pitch I
was giving everybody in 2011 is that
Bitcoin allows you to send and receive
any amount of money with anyone anywhere
in the world instantly basically for
free and there's nothing anyone can do
to stop it that pitch is still true
about Bitcoin cash that picture is no
longer true about Bitcoin so that's why
I'm so bullish on Bitcoin cash today I
got it now a lot of people you know in
the media they debate you know
cryptocurrencies are too risky too
volatile
you know what's what's the opinion the
belief that you have on there so
cryptocurrencies are incredibly risky
they are incredibly volatile but if you
look at them and you know that the
supply is limited and if you think
they're going to become more useful over
time which means people more people want
to use them which increases the demand
the price is set by supply and demand so
if the more people are gonna use them
the supply stays the same the price will
go up so ask yourself is saving 30% on
Amazon is that a good use case if you're
in India working on Mechanical Turk and
having this payment method to convert
your Amazon store credit into something
liquid is that useful are you gonna
start using it if the answers to you
seem to be yes to these questions than
Bitcoin cash is a fantastic investment
and there's lots of volatility in the
short run up and down but from my point
of view as an investor I want to be
exposed to as much that volatility as I
can over as long a period of time as I
possibly can and I've been exposed to
the volatility of Bitcoin for almost
eight years now and there have been lots
ups and downs but I just held the whole
way through until recently when I saw
the writing on the wall with the Bitcoin
BTC version of Bitcoin cash and so I
recently have sold most of my BTC to buy
more Bitcoin cash and I'm very confident
in the long run that that's gonna be a
fantastic investment because Bitcoin
cash is useful as cash UTC is this kind
of a science project at this point and I
wish them good luck but from an
investment it doesn't make any sense at
this point right so you're you take the
long term approach so even though if it
drops or crashes that's an opportunity
for you to buy more at a cheaper price
most of my net worth is already in
cryptocurrency so I hold I and don't put
all your net worth into crypto
currencies and don't put all of your the
currency investment into one single
cryptocurrency the key to investing is
diversity have a portfolio so if you're
going to invest them in cryptocurrencies
which i think is a good idea of course
swaps in Bitcoin cash Goldsmith thorium
hold some Manero hold some - hold some Z
cash z coin take your pick even hold
some BTC because BTC has the Bitcoin
name and everyone's busy buying Bitcoin
because they think it's the same version
of Bitcoin that it was in 2011 because
they haven't done their research anybody
that dives in deep and in fact we just
heard Bobby Lee on stage earlier - if
you're in
room but he said that Bitcoin cash is
the original version of Bitcoin is
outlined by Satoshi Nakamoto BTC no
longer is and that's somebody that's
been involved in Bitcoin a long time
founder BTC China saying that right
there on stage and I'm saying that as
well so these are the early early people
are saying that the Bitcoin cash has the
fundamental characteristics that made
Bitcoin popular to begin with and the
BTC Bitcoin when everyone was calling
Bitcoin today it has the Bitcoin name
but it doesn't have the fundamental
characteristics that made Bitcoin
successful to begin with so I know
earlier telling me but you're out yeah
that's how did you mentioned that
there's a link even go to if go to
Bitcoin comm you can get the Bitcoin
calm wallet for free and then head on
over to free Bitcoin calm and we'll give
anybody some free Bitcoin cash by
visiting free dot Bitcoin it's not a lot
it's like seven or eight cents worth but
we'll literally will send it directly
from our computer directly to your phone
anywhere in the world just like that and
it's so easy and we just so for me I was
saying you know I okay for you to send
it to me I need a queen base account but
you're saying this a lot easier to send
it so I got the app on my phone that
Wi-Fi is a little bit slow here so
hopefully you'll load up yep so it says
it's creating your first wallet here and
so it's a very very important
distinction so lots of people are using
coinbase coinbase is a fantastic service
they make it super easy to buy and sell
crypto currencies but it's not a wallet
and calling base is a bitcoin bank or a
do a crypto currency bank where they're
holding your cryptocurrency on your
behalf and if you want to be able to
send and receive cryptocurrencies with
anyone without permission you need to be
using a crypto currency wallet which
means your holes into private keys
yourself like the Bitcoin comm like the
blockchain dot info out there's lots of
Bitcoin wallets but don't confuse a
Bitcoin wallet with a Bitcoin bank and
the Bitcoin comm wallet supports both
Bitcoin cash and the Bitcoin core
version BTC which is what everyone's
calling Bitcoin you can see I'm both in
there so I say I can buy Bitcoin or I
could receive Bitcoin right you can't
send in yet because you don't have any
but we're gonna fix that here right now
okay so click on receive click on
receive and so we should mention you
yeah here's this Korean if you want to
send him a tip you can see that just
scan that I'm you scan it right here for
my phone hold it still so I've scanned
it and notice in order to install the
app
you didn't give your name you didn't
give your email you didn't give your tax
ID number
you didn't give any information at all
all right so and I'm on the slow boat
internet here mine's calculating the
fetus in that the fee is gonna be about
1/7 of a u.s. penny to send that if I
were sending the BTC version a Bitcoin
the fee would be maybe 50 cents today
maybe a dollar in December of last year
was 50 dollars on average so I just hit
the send button maybe you can hold yours
up for the screen too and in a second
there that should show up here and wait
for that to load your balance there so
this is where people would store their
their they point to you or would you
recommend for larger amounts to use a
hard wall later so for large large
amounts use a hardware wall it's a good
thing but if you want to go shopping on
Amazon and save 30 percent years in
personnel is a big point combo that's
fantastic if you want it basically I use
the Bitcoin comm all in all the time so
basically the speed of this barn the
Wi-Fi is basically it's lightning-fast
anywhere in the world just like that the
fee was a seventh of a penny once your
phone manages to connect to the internet
again you'll see that I sent you some
Bitcoin cash and it literally went
directly from my phone to your phone
just like that awesome and full life is
better with internet so how can people
find out more about you and what you're
up to
yes a visit Bitcoin I come to learn all
about Bitcoin cash in digital currencies
and if you want to follow me on I'm
active on Twitter some Roger cave ear is
my twitter ID there's lots of fake
Rogers on Twitter don't believe the
other ones Roger Kay's and Keith
fear is my twitter ID it also check out
their YouTube channel as well Bitcoin
comm YouTube will link to that as well
I've got a lot of great content if
you're just just getting started brand
new to this they have tons of resources
and information to help you learn more
so that you can get started with this
and if you like this content make sure
you subscribe to this channel share the
video with a friend and get started
today at Bitcoin comm so thank you for
really appreciate it let me tell the
world Thank You Roger
thank you guys I'll talk to you again
soon
you
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