In the marketplace awareness series, we are talking about what is going on in the economy and how to make money. We have conversations about making money, keeping money, and investing money. Today I have an extraordinary gentleman on the podcast. Jim Blasko is with me today and we are talking about digital currency and the market.
Jim Blasko is the co-founder, station developer, and program director for Bitcoin Talk Radio. They bring all the bitcoin content to one location for easy access. They include podcasts, price updates, latest news updates, and music. Jim is also the CEO of Aspire and CTO for Talent Joe. Aspire is a revolutionary smart contract platform designed to allow users to easily create their own digital assets under a faster and more secure environment. Talent Joe is an online social platform that brings talent together with celebrities, stars, industry professionals, and fans into one central location to form a powerful community. Jim currently resides in Las Vegas.
In this episode, we talk about bitcoin and digital currency including the fast-approaching future of digital currency. Jim shares his experiences, some good and some bad, with bitcoin. We talk about the first steps for getting started, ways to protect yourself from scams, and Jim’s successes and upcoming projects.“You have to look into it before you put any kind of money into it.” -Jim Blasko Click To Tweet
- [01:43] Jim has a radio station called Bitcoin Talk Radio. Bitcoin Talk Radio is 24/7 streaming, it has been around since 2014, and it’s the first bitcoin fully licensed radio station.
- [03:01] You have to do your research and really look into all these different platforms, programs, and cryptocurrencies.
- [03:57] The stock market took a big hit with COVID-19, but bitcoin has recovered to where it was prior to the pandemic. It took a price dip at first, but it has come back faster than most things have.
- [04:58] Bitcoin is more of a way of life and there are going to be ups and downs in this way of life. Bitcoin has a great long-term future.
- [06:23] J.P. Morgan decided they are now going to work with bitcoin. Those who didn’t like it are starting to warm up.
- [08:31] The first key is to have a wallet.
- [09:55] If you don’t hold your keys, you’re not holding your money. Not your keys, not your bitcoin.
- [10:32] Coin Base is a centralized place similar to a bank. It is very convenient, but the problem is that you are not holding your own money.
- [11:41] These exchanges sometimes get hacked.
- [13:23] Jim recommends two devices. One to hold you main stash of bitcoins and one that holds what you want to carry around with you.
- [13:47] There are going to be scams in anything that is popular. You have to be very careful.
- [14:34] Do your research. Look into these projects including who is behind the projects, research the names, and do online background checks. Look for the guys who have made other projects that were successful.
- [15:54] There used to be a lot more exchanges in the United States. There is less now, because of the regulations.
- [16:24] Bittrex is an exchange that has been around for quite a while and it is U.S. regulated. They have a lot of alternative cryptocurrencies instead of just having the main ones.
- [18:31] A token is something that runs on somebody else’s platform.
- [18:44] Aspire is a platform that Jim has been working on for three years. Aspire is a platform that lies over the top of a blockchain that they built. They have another software over the top of that which allows people to create their own coin.
- [20:14] Jim doesn’t recommend or trust cryptocurrencies that back gold. Jim prefers to own his gold physically and have his cryptocurrency.
- [21:07] Bitcoin is not backed by gold. It is backed by the people that use it.
- [21:22] Hal Finney, an amazing computer scientist, created blockchain technology. He built it before bitcoin was a thing.
- [22:08] Blockchain technology is a viewable history of all transactions that ever happened on the network.
- [23:52] You can’t pass diseases with digital money. You can’t get sick from cryptocurrency.
- [24:35] Most likely we are going to see a stable coin that has a set price. At some point, they are going to force everyone to convert from paper money to digital money.
- [25:22] In 15-20 years or less paper money will be gone.
- [27:07] Bitcoin is borderless. It doesn’t have any boundaries when traveling to other countries. You can carry your bitcoin with you anywhere in the world.
- [28:29] Talent Joe will allow people to create their own cryptocurrencies or tokens.
- [30:44] Big things are coming from Talent Joe in the next 6-8 months.
- [31:02] Talent Joe is the killer app for Aspire. Aspire is a great technology and Talent Joe is going to put it to use.
- [31:31] Cryptocurrency is here. It is borderless, your own money, and nobody can take it away from you. It has been one of the best investments for Jim.
- [34:12] Jim shares about reopenings and changes coming in Las Vegas during these times.