Aside from the fact that cryptocurrency has lost its luster in recent years, it also has a host of other problems. First of all there’s the climate issue since crypto requires a ton of energy. Then there’s the trust issue because without trust you don’t have widespread adoption and what good is crypto if there isn’t a critical mass of users? And then on top of that you add the recent developments of Sam Bankman-Fried’s conviction of stealing billions of dollars from customers at FTX. Knowing that money laundering and wire fraud were being committed… that doesn’t build trust! Every transaction seems like a scam waiting to happen, and few folks know this better than our guest Zeke Faux. We’re lucky to be joined by Zeke as he has documented the rise and fall of crypto over the past few years in his new book Number Go Up, which took him everywhere from El Salvador, to Cambodia, and ultimately SBF’s penthouse in the Bahamas.
Additional links:
- Number Go Up – Learn more about Zeke’s book over at NumberGoUpBook.com
- Fancy espresso machine – If you’re an aspiring coffee nerd like me- here is Zeke’s prized possession/craft beer equivalent for those interested!
- Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cashback offer! Just toggle the sliders and you’ll know which card to consider.
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During this episode we enjoyed a Desert Fog by Marble Brewery- a big thanks to Bob for donating this one to the pod! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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I enjoyed your recent episode on cryptocurrencies, but I think a follow-up exploring the positive side would be great. While it’s true that crypto is mostly used for speculation (raising my hand ,as I absolutely do), but there are practical use cases such as cross-boarder payments, solutions for public patent records, that your audience might find interesting.
Many crypto projects are solving real-world problems that most aren’t aware of- like money settlement. I believe covering these could provide a well-rounded perspective on the subject. Looking forward to potentially hearing more about this on your show!
Examples – of utility “tokens” XRP, CSPR, and HBAR. – full disclosure, yes I am a holder of these cryptos but I’m also a personal finance junky. Who wholeheartedly hardly believes in index funds, paying yourself first, financial literacy to empower everyone and stop from being scammed and or paying for advice for no fiduciary salespeople.
They say crypto is full of scammers- and I don’t argue that point but so is our traditional financial world.
Cheers gentleman, really hope my thoughts are met with a positive attitude and thanks for what you do.
Crypto market is very strong and has again proven critics wrong. The second US allows Bitcoin ETF, ETH ETF + Interest rate hikes stop = this will have an immense global effect on the total crypto market cap and adoption rates. If no major economic crisis happens (all else equal) we should see a bull run late 2024/early 2025. There is also high probability there will be additional increase (money printing) in US Dollar volume increase that will also fuel the bull run in combination with low interest rates and cheap borrowing. This will be the mega bull ran with potentially the total crypto market cap going over $7-$10 trillion threshold. Overall, Cryptocurrencies have proven to be revolutionary and they can bring lots of benefits to the humanity. That’s why blockchain tech & cryptocurrencies will play pivotal role in our future global digital economy powered by web 4.0 + AI + Blockchain tech..