Summary
➡ Coinbase, a popular U.S. cryptocurrency exchange, is praised for its patient approach to business growth and compliance with regulations. The platform offers educational resources for those interested in learning about cryptocurrencies like Bitcoin. The article also highlights the importance of finding a supportive community when navigating the often unpredictable crypto industry. Lastly, it discusses the potential of cryptocurrencies not just as investments, but as tools for generating income and building wealth.
➡ The text encourages people to consider investing in cryptocurrency to build wealth for future generations. It mentions the use of gold as a safety net for the unpredictable nature of crypto. The speaker endorses a company called Prime DeFi, which specializes in cryptocurrency, and encourages listeners to join them in this financial venture. The goal is to improve one’s financial situation and contribute to the growing crypto economy.
Transcript
capitalizing on Bitcoin mining. So, Dan, welcome back. Great to see you again, my friend. Yes, sir. Hey, Dr. Steve. Good to be here. It’s great to see you. Well, Trump seems adamant about all this, about getting the United States to sort of take control of this thing called Bitcoin mining. Can you first explain to us what is Bitcoin mining and what are the outcomes that Trump’s hoping for here? And how can that help our country and our economy? Yeah. So in a nutshell, Bitcoin mining is the process of validating all the transactions that occur with Bitcoin on the Bitcoin network.
Right. So when person A sends Bitcoin to person B, there’s a ledger, an open public ledger that is maintained. And there are multiple copies of that ledger, which is what keeps the network secure. And the other component to that is proofs. Right. We keep proofs and accurate records. And so miners are essentially groups or people who have signed up to do this job. And the way that job is done is by having a computer solve a really complex math equation to validate a proof of the record. Right. So it costs some resources to do that proof.
But the reward is that the way Bitcoin was designed, there’s only going to be a finite amount of Bitcoin ever created. And part of the Bitcoin that gets created on the Bitcoin network goes to the miners who help maintain the record of what happens with all the Bitcoin. So that’s kind of Bitcoin in a nutshell. So we have thousands of miners globally maintaining the network to what it is today, which is the most rock solid blockchain network in existence. It is by far. Right. I mean, Bitcoin is pretty I know Ethereum seems to come into a second, a sort of distant second just in terms of the pricing.
But my, oh, my Bitcoin is just seems to it really has blazed the trail, hasn’t it? Yeah. Yeah. And, you know, getting into what what what Trump is doing with the stand he’s taking on on Bitcoin being made in America and that whole narrative that’s going around now. It’s great because a lot of not only Bitcoin, but just crypto in general, has been pushed offshore right off of off of off of the U.S. jurisdiction for a variety of reasons. You know, we’ve had the nonsense around Bitcoin’s bad for the environment. That’s that’s a big misnomer.
That’s been disproven multiple times. Bad policy or not, not even policy bad enforcement with lack of proper regulation against the crypto industry against Bitcoin. Sandbank been freed and all that. Yeah, lots of shenanigans. And the narrative has been that crypto is a bad thing or Bitcoin is a bad thing. And Trump is smart because he he sees this happening. Right. He’s a business guy. And he sees that if we push innovation offshore, we’re going to lose as the leader of the free world. Right. And like when since when is America supposed to be last as an innovator? Never.
Right. And so I think the outcomes that he’s hoping for to bring the crypto industry and Bitcoin is a huge component of it. It’s half of the entire market. Make it safe for people to want to develop and innovate right here at home and not lose that business. And that tax revenue, it’s good for it’s good for the country. We want to keep it on, you know, within our borders here. Right. Right. Absolutely. Yeah. And being on the be on the cutting edge of this defy this whole this whole revolution in finance. It’s pretty pretty astonishing stuff.
And it’s happening so fast right before our very eyes. How do you think Trump’s statement on Bitcoin mining in general or just particularly Bitcoin in general is going to influence public perception and adoption of crypto currencies? It just it just looks like everywhere we look, the former naysayers are starting to finally come around and embrace the future of cryptocurrency. Yeah, he has a way about doing that, like forcing a conversation. And this is something that’s needed to be addressed for a long time, because, you know, this is a really good segue. This question is great as a segue from the last question, because, you know, one thing that I’d mentioned to add on to the previous answer that I gave, which which bridges right into this this topic here, is that not only are we, you know, we’ve been losing talent, right? If you ignore crypto and Bitcoin for a moment.
Right. What makes America great? America has attracted talent from all over the world because people want to come to the land of the free to pursue opportunity. And, you know, we’re we’re entering a new age. Right. Crypto Bitcoin. This is we’ve had the industrial age. We’ve had the information age. We’re walking into the I believe what will be called the autonomous age. We have things like AI and ledgers and blockchain tech. Like this is driving the digital future. Right. And who, you know, where is that mind share? That mind share is is the brain trust. Right.
Where is that coming from? And if you look at surveys of all the students that are going to school for these disciplines, you have sub sectors like cybersecurity and things like that. But blockchain is where the vast majority of people studying these fields are going to. And if we don’t bring this back to America, if we don’t make it safe for crypto to thrive in America, guess where all of our smartest minds for the next generation are going to go. They’re going to go offshore. And what’s going to happen to America. Right. So so this is so important.
And he I think he knows this right. And he wants to keep the talent here. And so by forcing this conversation, by making such a bold stand on I will, you know, stop the war on on crypto, the left administration has just made it a hellhole for you to be an innovator in crypto over the last three years. Right. He just came out radically and said, I’m putting a stop to all of that. You’ve got that piggybacking off of big players like BlackRock and Fidelity and the major financial institutions now. Buying crypto, buying Bitcoin, Ethereum’s next, Alana’s next.
You know, so it’s like you can’t be on the other side of this any longer without looking foolish. So I think this statement is really, you know, regardless of where somebody leans politically, what’s great about this is it’s kind of forced both sides to be pro crypto. Yeah. And and now the whole narrative will change. Well, the boogeyman stories will go away. And yes, we will allow the public to see this exciting industry for what it is. So I think the public perception is only going to elevate in a dramatic positive way over the next couple of years.
It’s like starting now, starting this election cycle. Right. This election. Yeah. So what I’m hearing you saying, it’s sounding like it’s becoming pre-political. It’s becoming foundational to just society itself. Both parties end up embracing it in some way, shape or form. Yeah. Certainly if BlackRock’s embracing it, eventually Deborah can have to embrace it. Right. That’s for sure. But there’s still a lot of people who aren’t sure about the whole crypto world. It’s new. They can’t quite wrap their heads around it. You know, I guess it might be comparable to explaining to people how originally how email electronic digital mail is actually mail.
I don’t know. They could have quite get their heads around. What do you mean? No stamp or envelope or something like that. How can regular people learn more and stay informed and benefit from getting into crypto? Who have yet to wade into the waters? Yeah. Yeah. This is key, especially now because when something’s so new, you have to find credible sources. Right. You have to follow, I think, the champions of the industry who are looking at this positively. And I’ll just name a couple of resources people can go to. Number one would be on a legislative side.
I think one of the biggest champions for crypto right now is a gentleman named Patrick McHenry. He’s the chair of the Financial Services Committee for this country. And he is a huge proponent and advocate of crypto regulation and clarity and guidance so that we can have a thriving industry in the U.S. So, you know, paying attention to what regulators like he is doing is one place that you can start looking if you’re interested in that side of the things. Going to what I would call the goody two shoes exchange, and I mean this with love, like Coinbase is my favorite exchange that operates here on the home front in the U.S.
They are the goody two shoes exchange. Why I say that is because to their own detriment, they have built their business slowly. They’ve lost out on market share because they’ve they’ve tried to be very patient with our other side of our governing bodies that are so crypto friendly. And they didn’t want to start a fight. They wanted to do this the right way and give the sector time to grow with our regulators. And so they’re just really good advocates for the space. And they have a lot of cool, you know, you call it easy one on one articles you can read.
If you just go to Coinbase dot com and start poking around, they’ve got some really cool education for people to learn about what this is. This is the future of money and how to get involved and be a champion and support. You know, they have a whole page dedicated to how you can tell your local elected official that this matters to you. Right. So they’re really cool advocates on that front. But also just fundamental knowledge of of what is what is Bitcoin? What is crypto? How can I get some right? Like it’s a great way to get into get into the market.
And I think the last bit that I would say is beyond that, it is tough because it’s so new. But you got to find a good community. Like you got to have the right community of people because some of this industry is Wild West. Right. We’ve heard some of the stories if we pay attention to crypto over the last couple of years. And so you want to find a good community where people have a vested interest in you and like minded. That’s partly why I ended up doing what I ended up doing in the space. But yeah, to provide that community for people so they can have a place to learn and grow and participate in this.
And I think you’re being very humble, gang. Click on the link below and join the community. Dan’s wonderful. The guy get defied. That’s exactly what they are. They are that community to come alongside you, give you the expertise. You learn together and grow and flourish financially together. So definitely click on that link below. Dan’s Dan’s the man. Yeah. I mean, speaking of, do you have a quick success story that you could share of a courageous patriot stepping out? Joining that community and awakening the parallel economy with crypto and their own lives? Sure. Yeah, yeah.
So we have in our community we do. So we have coursework and things like that where people can learn. And we teach the fundamentals of what crypto is. And then we go deeper than that because you just said it. There’s a parallel economy happening right now that you could participate in. And there’s a parallel financial market as well. And not only can you hold crypto, but you can support this parallel market and not only build wealth with these assets over time, but actually generate a yield or a cash flow off of them now. And that’s like what our education is centered around.
And we have training to help people do this, to figure out how to do this. And most people come to us with no experience. Like I said, they’ve never dealt with crypto before, right? No, no. And actually, I didn’t know that that was going to be the case when we started this community. But I found that we had a lot of new people coming in. And our first year I was like, oh, let’s see if we’re able to help these people. And we were, which was amazing. And so we kind of actually structured our whole community around.
That was the big aha moment I had that we can help the average person come in without a financial background, without a trading background, without a crypto background, and teach them what they need to know to get into the space safely, to be their own custodian, which is key. Like all those things in the past, like people losing money on places like FTX or Voyager. They basically trusted a third party to help them get into crypto. But our community is about empowering you as the individual to be sovereign yourself, to be in control of your own crypto.
And so we started teaching that. And not only do we teach it, but we have events and meetings every week where we meet face-to-face virtually kind of like this here, kind of like how you and I are hanging out. We have group calls with each other. And it’s a really cool aspect of what we do. And actually, eventually I’m getting to your question here. I met one of our members for the first time face-to-face, Rhonda, just this past Tuesday. And she told me the story about how she was involved. She tried to get involved into crypto, and she didn’t know how to discern the good, the bad from itself.
And she learned how to do that in our community. And not only did she make up for, she got scammed once or twice. We had another member, Mark, who actually lost money in the Voyager exploit. These are things just when you don’t know how to self-custody, you could fall into these situations. And both of them were on the call, and they both shared their story about how not only has being part of our community been liberating for them and that it taught them how to do this independently. But in this short time, they’ve been with us, I think Rhonda’s been with us for about six or seven months.
And Mark’s been with us for about a year. They have multiplied their losses back. And not only that, but their cash flowing off of their crypto portfolios, which is amazing. And both of them have no prior experience to this world, like this decentralized finance aspect of this. That’s what we focus on. So not only were they neophytes at it, but they had actually originally lost money, trying to do it themselves. And they joined the community, and now they’re cashflow positive with crypto. Can you give us a little bit of an insight? Because to me, that’s the most exciting thing of what Prime DeFi does, is you don’t treat Bitcoin as just solely an investment, something to cash out on years and years.
You actually show how you can build generational wealth like now with crypto and become liquid with it now. Can you flesh that out for us a little bit? Yeah, I kind of hinted at it, but let’s go deeper. So the parallel financial market, what I mean by that, I’ll give an analogy because this will be something that people can understand without actually having firsthand knowledge of it. Because you don’t have firsthand knowledge until you do it, and then you get all those ahas. But think of how we have ATM machines all over the place.
And what’s worse than when you need cash and there’s no ATM machine around. You’re in a pickle. And so ATM machine businesses, their business model is to be that service for you when you need that, when you need access to cash. And so there’s a parallel market, a parallel financial market that’s open on the blockchain, free, transparent, where people can buy and sell and trade crypto. And the thing is, though, there’s not enough machines, ATM machines to service the demand. And so on one hand, you can hold your crypto. And similar to if you owned an ATM business, you can just hold your cash.
But if you’re willing to run this ATM machine business, you’re kind of lending the cash to the machine. But what’s the real business there? The real business is the fee, that $3 fee that you pay when you use the ATM. So people trade all the time on Coinbase or in Robinhood. Forget crypto for a minute. When people trade, they pay trading fees. So this parallel financial market that deals with crypto has a way for people to trade. However, there’s a demand for what’s called liquidity. We need these digital cash machines sourced so people can use them.
And if you help support that, you get to collect the fee goes to you instead of the big exchanges who make billions of dollars. This has been their business model for years, for decades. It’s never been accessible to the average person. You needed a billion dollars to start an exchange. Well, now you could be the average Joe or the average Jane with some startup capital. You support the financial market, you’re holding your crypto, you still have the crypto, and now you get to collect fees from other people using this marketplace. It’s the best of both worlds.
It is. It’s amazing. Oh, I love it. It’s this best kept secret that hardly anyone knows about right now. It’s a cliche thing to say, but it is true. Best kept secret. And now all these patriots listening are learning about it right now. Okay, seriously, if you want to build real generational wealth, the kind you dream up for your kids and your grandkids, I mean, you got to give crypto a try. You guys know I’m a huge believer in crypto. I’m in on crypto as well as gold. I use gold to hedge the crypto, the ups and downs, but there’s nothing like this amazing decentralized financial industry like crypto that’s coming up right now.
Dan and the guys at Prime DeFi, they’re experts. We’re on the front lines of this rising crypto civilization. They know it inside and out. So let them lead you to win big. I’m letting them doing that for me as well. So we’re all in this together. Click on that link below. Supercharge your financial situation and build the parallel economy one Bitcoin at a time. Daniel Son, thank you so much for clarifying and cutting through all the confusion on crypto. Very appreciated. Yes, sir. It was great to be here. Thank you, Dan. [tr:trw].
See more of Dr. Steve Turley on their Public Channel and the MPN Dr. Steve Turley channel.
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