Are you wondering what's causing the sell-off in digital assets? 

In my studies, I see major institutional firms taking major positions in digital assets while retail investors are forced to navigate the space alone or with the wrong information.

For example, Vanguard, Fidelity, and Blackrock are taking major stakes in digital assets. 

Yet, many firms don't allow retail investors to participate in these assets. 

Frustrated, I too. I ask myself why?

The industry lacks coordinated regulations. 

When regulations are loose, investors are exposed.

When regulations are loose, markets may be manipulated. 

When markets get manipulated, people get hurt. 

I don't want you to get hurt. 

Many of my attorney friends tell me there are two legal systems. 

There are also two market systems. 

Institutional and Retail.

Access to information and proper representation is key in both worlds. 

Here is what I suggest. Don't navigate digital assets alone. You wouldn't represent yourself in court, would you?

I do what I do because I know what I know. And what I know needs to be shared. Plus, I love helping people. 

My goal with podcasts is simple.

Learn and share.

It's what I am committed to. 

In the end, it's between my Higher Power and me, anyway.

They say you can't keep that which you don't give away, and I am giving away my knowledge to you. 

Maybe I'm crazy. But, If I can help one person, it would be all worth it. 

I was put on this earth to help, and I am good at it and enjoy it.

Join me in today's podcast as I dive into Bitcoin, regulation, and market manipulation.

Levis Strauss did not have a closed mind.

In the 1800s during the San Francisco gold rush, Levis Strauss figured out that most people failed at finding gold. He didn't become obsessed with gold.

He saw the trend and was willing to explore it.

He went to San Francisco. He didn't talk about going to San Francisco.

Instead on focusing on he capitalized on the trend.

What does this have to do with wealth management?

EVERYTHING

Tune in to todays episode. Let's connect the dots and grow shall we?

Most people overemphasize their investments and neglect the custodians.

Most people don't understand the importance of a custodian in their investment decisions.

Choosing the wrong custodian can turn a great investment into the worst decision.

Understanding custodians, their roles, and security features are critical when investing in any asset, especially in digital assets.

Before you buy a house, you may want to inspect the safety of the neighborhood.

Before you evaluate investment opportunities, assess your custodian.

Tune in to today's podcast if you want to understand the role of custodians in yeh safety of your money.

Many people think that being certified in the Blockchain and Digital Assets means it's time to start investing. There is so much misinformation in my industry. Some of the misinformation leads to ignorance and some to misunderstanding. This is not people's fault. After all, people understand the difference between a doctors advice and the pharmacist. Unfortunately, people can't connect the dots between a financial advisor and investment products. Join us today as I share with you what I plan to do with the Blockchain and digital assets now that I'm certified.

Is it too late to participate in digital assets?

I'm afraid many people invest for the future looking at the past

WHY

Looking at what an investment did in the past is a major flaw in luring the wrong investors into digital assets.

These same people are the ones that make the headlines and lost their shirt.

Digital assets are not a casino yet many so called investors are nothing more than speculators

Most people follow the retail news feed and ignore the institutional flows of information and money.

Not having a discipline investment approach is a sure way to lose your shirt in digital assets and any other investment

Always ask yourself what does this company do and what problems do they solve.

Invest in systems and companies that you believe in and understand.

Most people are busy and regardless of how smart you are unless you're retired and are watching your own money 24/7 you'll likely need some help

Hire a financial advisor who is a fiduciary.

A fiduciary is someone who has a legal obligation to put your interest first.

Jamie Dimon warns of a financial hurricane coming and what does this mean for you, your money, and your family…

Traditional mentors don't work in non-traditional environments.

Mentors who fail to adapt to the times should be evaluated and replaced.

I find that the financial services industry and some of it's head honchos have been wrong about digital assets, Bitcoin, and many economic predictions.

I am a JP Morgan brat I've met and followed Jamie Dimon for years. Jamie hates Bitcoin and at the same time JP Morgan created the JPM coin (Digital Asset).

Describe the single word feelings that arise for you when you tell yourself that story?

JPM had many departments at times the different departments contradict each other.

These contradictions often confuse clients.

And, some of these contradictions come directly from the CEO.

Take for example this comment he made about a major financial hurricane coming.

Do you think that this is what financial advisors, the private bank, and the asset management division is telling their clients.

Hypocrisy

The market is the loudest voice.

A political or corporate figure that serves shareholder always has a conflict of interest when speaking to non shareholders.

Water down public opinions from public figures.

They don't know you and because they don't know you they don't care about you.

Listening to public figures, especially ones who have conflicts of interest can cost you.

Listening to people who don't know you or have an obligation to you is like trusting webMD over your own doctor

If you let it, the rampant opinions of attractive characters will sway you.

Who remembers Cramer telling people to double up on financial stocks that failed right before the financial crisis.

It's on YouTube people…

And, yes this guy still has a show and is still telling people to buy stocks and probably still doesn't know who you are.

Public opinions are filtered and controlled.

Information in this sense is monopolized and it's hard to get different points of view from the centralized consensus.

CENTRALIZED OPINION

The centralized bobbleheads usually know nothing about you.

Don't listen to people who don't know you or have an obligation to look out for you.

By the way, this includes me.

This is why I always say at the beginning of every episode to consult your own advisor and conduct your own due diligence.

Unless you're my client I don't know you.

THEY DON'T KNOW YOU

Find a fiduciary and develop a relationship

A fiduciary has a legal obligation to get you to where you are going.

There able few fiduciaries in our business

And lots of stories and excuses for this tragedy.

Don't settle find a fiduciary because they have a legal obligation to lookout for you.

A LEGAL OBLIGATION

Build a written financial plan

I know I sound like a broken record.

But you wouldn't go on vacation without a travel plan.

You would jump on a plane that doesn't have your destination as priority.

IT'S ABOUT YOU PERIOD

Listen to the icons but don't buy their plan build your own.

Jamie Dimon doesn't know you.

Warren Buffett doesn't know you.

Hire a fiduciary, build a plan around you and be cautious of the mainstream rhetoric.

It is almost always centralized and wrong.

Wrong in the sense that it's a medical opinion from a doctor who doesn't even know you exist.

Leadership in Wall street can have many opinions during the course of a market cycle.

Remember, unless you're spending time with these people discussing your plan their opinions are worth LESS.

What are NFT's and why should investor's pay attention?

Do your kids play video games or navigate online?

Let's start with the relationship between Metaverse and the Blockchain.

Tokens are byproducts of the Blockchain and the digital age. The space is growing rapidly and token utilization expands to commerce.

Want to join the Metaverse you'll likely need some tokens.

The world of the Metaverse seems foreign for many and most people don't understand it.

Kids play games online, we navigate our lives via our phone, we consume content online. Tokens are in a sense the digital currency of the future necessary to navigate the online world.

We are distinct and unique individuals.

To demonstrate our customized experience online tokens give us an opportunity to do just that.

But, tokens also have commercial and business use.

Therefore tokens like NFT's should be studied. From an investor perspective tokens provide an endless potential of broader diversification.

Diversification beyond traditional asset classes.

This is where things get complicated. Where there is noise there is bound to be criminals mixed in with opportunity.

Tokens are another opportunity of the digital space. And, the space is growing rapidly. Like all investments, due diligence needs to be at the top of the list before you decide to participate.

I'm focused on the commercial use of NFT's and how this transcends into commerce.

As a financial planner I want to study the space and see how it can benefit my clients.

Like all investments my suggestion is simple measure two or three times cut once.

Therefore, trust but verify. Repeat the process.

The future generation is online therefore the future consumer will interact with online commerce in a different way.

If the future of commerce is online we need to understand the Blockchain and tokens.

The news headlines make a mockery of the commercial utilization of tokens.

It's not about NFT's or buying digital kitties. It's about understanding how the future consumer will navigate the online world and spend their money.

These countries have made Bitcoin their central currency and how the US and others are working on their own CBDC. 

CBDC's are the ultimate seal of approval of Bitcoin and other digital assets 

The truth must come out and I need to prepare myself and my clients for what's to come... 

People have no idea what a CBDC is. 

A CBDC is a central bank digital currency. 

There are many countries who have adopted Bitcoin as their own digital currency or are currently working on developing their own CBDC including the US. 

The first step is to recognize the movement here and why it's happening. 

Last, we must understand what are the implications of this trend to our money and the way we do business. 

 

I don't believe Bitcoin will replace the dollar. 

I do believe the US will develop their own central bank digital currency soon. 

If and when this does happen its an implied endorsement of the Blockchain and digital assets. 

Once the space is endorsed and regulated this can be a game changer for Bitcoin and other digital assets. 

I'm asking people to wake up and pay attention to the direction of where things are going. 

The implications can be rewarding or damaging depending on which side you are on. 

Fear is not knowing what's going on when it is going on.  

I don't want you to be fearful. I want you to be informed. 

Learning the rules of the game before you're forced to play in the game is the best way to enjoy the game. 

Never play a game you don't know the rules to. 

Playing a game for which you don't know the rules is almost always a bad idea and leads to a costly learning curve.

Can Bitcoin Replace the US Dollar?

We must first start with what is the definition of money and does Bitcoin meet this definition?

To understand if Bitcoin is a viable replacement for money one must understand the definition of money and test it to see it meets the definition.

Many people don't know the reason why Bitcoin was created.

Bitcoin was created as a result of the financial crisis of 2008-2009. It was created with the goal in place to replace fiat currency.

Millions of people believe that Bitcoin is a viable alternative for a storehold of wealth.

But the question is does Bitcoin meet the definition of money?

What is the definition of money?

Does it meet these three characteristics?

Store of value

Unit of account

Medium of exchange

Investors should ask what is their logic for investing in digital assets.

They should ask if they seek a substitute for money or do they seek to diversify their portfolio by adding Bitcoin as an investment.

Decide if your going to use one approach or both.

The approach determines the type of digital asset you should invest or store your wealth in.

The money test is not the only test people should do.

They should also know if Bitcoin meets the currency test.

They should understand what the asset does for their diversification needs.

Is adding Bitcoin improving diversification by producing better risk adjusted returns?

In a simplified way, digital assets can be seen as an asset class or as an alternative storehold of wealth.

These two approaches require different implementation strategies and financial planning approaches.

Regardless of which approach you you still need proper financial planning and risk management strategies.

It's fascinating that by just looking at the definition of money it appears that Bitcoin meets the definition.

Acceptability is still a challenge for Bitcoin but the store of value seems to be appealing due to the logistics of supply and demand.

Bitcoin and digital assets are fascinating. Can Bitcoin replace fiat currency? I don't know. But it is possible when you focus on the definition of money and the fact that we are moving towards a fully integrated digital world.

Last, it's hard to argue against the money supply and demand issues that many governments place on their central currencies.

In today's episode, we discuss how the blockchain works. How it works in relation to Bitcoin. And, you need to understand this dynamic so you can become an informed investor. Join me today as we break this down in way we can all understand.