All this while knowing Darren, it’s always about investment and cryptocurrencies that our conversations surround. No doubt it is an enticing form of investment, given the huge bull run Bitcoin has had in 2024 and I probably have missed the bandwagon. Fortunately, knowing Darren means I get to talk to him and learn how best to invest in cryptocurrencies. But first, I need to know what the talk is all about.
If you are interested in just knowing how and what Darren invests in, and a little about Bitcoin and other cryptocurrencies, this episode is for you. If you are a seasoned investor, maybe you will find something of your interest here. Or not. Either way, Darren is just like you and me, trying to make it in life by hedging his position in the market.
[00:00] Misconceptions about Bitcoin
[02:34] Decentralization of Bitcoin
[05:16] How did he get into Bitcoin
[06:33] Why would Bitcoin go up in value
[10:06] Volatility is Bitcoin’s biggest strength
[14:00] How he learns about Bitcoin
[16:33] His crazy behavior around Bitcoin
[19:00] The reason Bitcoin went down in value in 2023
[26:57] Who is hurt the most during a bank run
[27:54] Bitcoin still relies on traditional currencies
[31:53] Understanding ledgers
[37:35] Buying vs mining a Bitcoin
[38:42] Why buy when you can mine
[40:13] Does he mine or buy Bitcoins
[40:53] Why are people selling Bitcoins
[42:17] Cryptocurrency trading platforms
[45:08] When would he sell his Bitcoin
[47:17] Understanding the risk investing in Bitcoin
[48:35] What about taxes?
[51:20] The role of government in policing cryptocurrencies
[53:28] Central Bank Digital Currencies (CBDC)
[59:37] FOMO in crypto trading
[01:00:44] His investment portfolio
[01:03:15] His perception on money
[01:06:50] Impulsive purchase decisions
[01:08:25] How can one start investing in cryptocurrencies
[01:11:30] What to say to people who don’t believe in cryptocurrencies
Sound effects obtained from https://www.zapsplat.com
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