What does winning mean to you? For our guest, Denny Collins, it's about overcoming adversity and unlocking financial freedom. Denny takes us on a riveting journey through his life, from a childhood marked by financial challenges to a life-altering accident that became the catalyst for his interest in Bitcoin and decentralized exchange.
Denny unveils his path from living in a trailer with a broken back to becoming a successful entrepreneur, illustrating the power of perseverance. He remarks on how his passion for Bitcoin helped him understand the world differently and fostered his sense of delayed gratification. We also delve deep into the importance of consistency in finance, fitness, and education, debunking the 'get rich quick' mentality along the way.
As we round off our discussion, we turn our focus to the potential of Bitcoin as an investment asset and the concept of 'digital gold.' We also discuss how Bitcoin's scarcity could lead to an exponential increase in its value.
Lastly, Denny shares his efforts to promote Bitcoin through his website and podcast, making this an unmissable episode for anyone interested in understanding the world of Bitcoin from an insider's perspective.
Join us as we learn about Denny's journey, his financial triumphs, and his undying love for Bitcoin.
To Follow the Host on Instagram: @thebrandonthornhill
To See The Full Video go to "Journey To Win" on Youtube
What does winning mean to you? For our guest, Denny Collins, it's about overcoming adversity and unlocking financial freedom. Denny takes us on a riveting journey through his life, from a childhood marked by financial challenges to a life-altering accident that became the catalyst for his interest in Bitcoin and decentralized exchange.
Denny unveils his path from living in a trailer with a broken back to becoming a successful entrepreneur, illustrating the power of perseverance. He remarks on how his passion for Bitcoin helped him understand the world differently and fostered his sense of delayed gratification. We also delve deep into the importance of consistency in finance, fitness, and education, debunking the 'get rich quick' mentality along the way.
As we round off our discussion, we turn our focus to the potential of Bitcoin as an investment asset and the concept of 'digital gold.' We also discuss how Bitcoin's scarcity could lead to an exponential increase in its value.
Lastly, Denny shares his efforts to promote Bitcoin through his website and podcast, making this an unmissable episode for anyone interested in understanding the world of Bitcoin from an insider's perspective.
Join us as we learn about Denny's journey, his financial triumphs, and his undying love for Bitcoin.
To Follow the Host on Instagram: @thebrandonthornhill
To See The Full Video go to "Journey To Win" on Youtube
All right, guys, welcome to the journey to win podcast. As you guys know, I'm your host, brent Thornton. I'm excited to have Denny Collins on today. We're gonna dive right into it. Denny is out in Dublin, ireland. I was searching through social media and literally found Denny. I love his Message. You know I'm, as you guys know, I'm a big believer in decentralized finance and and not giving the centralized exchanges all the control, which that is what they want and and he is. You know, he's been in the Bitcoin game for a while now and he's a consultant in that arena and he's somebody that you know he's gonna he's gonna bring massive value to you guys today and I'm gonna ask some good questions to him today. So, hey, welcome to the podcast.
Speaker 2:Denny. Thanks, brandon man, good to be here, good to meet you.
Speaker 1:Yeah, awesome man. Hey, so real quick before we dive into everything. The first question I typically ask everybody on the podcast is just what is winning to Denny Collins, like, what does that mean to you?
Speaker 2:Yeah, I mentioned to you that I just caught winner podcast, so this question isn't coming out of the blue. I got a few I listed on my lunch earlier and I thought about it. I was like what is winning? Well, winning to Denny Collins has just been like above ground.
Speaker 2:I suppose, for a start, that's the first thing of winning is just to be experiencing life, because it's to me it's such a short journey and was only when I got to my fourth Decade, like my 40s now that you actually consider and you look at properties and you're like how many families live there, generations, and their life at that time was the most important thing to do, the most important thing to them. But to me I'm not even remembered them, I'm just like it's just the time rolls on. So so the first thing is to be alive and then the second thing, I suppose, is just to to be happy and whatever that means to Different people is different things, but to me it's just sort of to be able to enjoy my time on my own terms and to me part of happiness is to help others, I think, because you can only do so much for yourself and that doesn't bring as much fulfillment as I think there's something weird in humans that we can get real happiness by helping other people, which is mad.
Speaker 1:No, that's a good answer. You know, there's a lot of people that I know, successful, who they're super successful, and it doesn't really mean much as far as their happiness goes. You know, it's people think that just because they're winning in their finances, that they're all of a sudden have a great marriage, they're they're they're great help and their health, they're great in their fitness, they're great in there, you know, with their relationship with their kids. It's just, it's not true, and so I love that answer. Man. So, real quick.
Speaker 1:So, as we, we're gonna dive into Bitcoin, we're gonna dive into you know why people should be doing and investing into Bitcoin. Right, and this is not investment advice. Just so you guys know, denny and myself are not telling you guys to go invest in the certain things. Yes, we are recommending things as far as what we are doing, but you guys are Grown men and women. Do your own due diligence, make your own decisions and don't blame anybody else for any of your financial. You know positives or negatives. So, with that said, so, denny, tell me I know you have a pretty powerful story from when you were how you got involved Into, you know, bitcoin, all that stuff like. Tell me about your journey to win up until now.
Speaker 2:Yeah, my journey sort of started off from as a childhood. Our family were poor and money was obviously an issue. Now, both my parents worked and they worked really, really hard, but it was just a hard system. So I experienced like being, you know, the poor family and ever went in an airplane till I was like 20, I think, which might sound crazy to people, but we just never done foreign holidays. Ratting to us holidays was in a tent. You know, christmas presents were Secondhand things sometimes and that, but like my parents worked so hard.
Speaker 2:So my dream was just like and it's kind of funny, you have these memories but my motivation was we used to go to mass, which is like church or you know, really just practice, and we'd be going in and our banger car like and and I know my dad was always embarrassed About it my fantasy as a kid like I don't know what age this is memory I was I want to just get rich, I want to buy him a nice car so he can drive in there proud. And it's kind of funny now that I'm older and I'm lucky still to have my dad and he's so wise and money means so little to him and he's taught me so much and that wouldn't have made him happy. My dad sort of he might not had money, but he always had time. He built his business so that he could work us at home. So he sacrificed earning more money for for having the time to be with his kids and Western grow up. So we taught me so much. But that was my motivation good batter and different. That set me on a journey to try and figure out Money and try and get myself in a better position to be able to support my parents.
Speaker 2:And this led me into I don't, the typical thing. I got a job, I worked, I worked, I worked but I wasn't getting ahead and I didn't really understand. And then it all came to a head. I was into motorbike racing, probably why I wasn't getting ahead. I was spending most of my money on motorbike and the race team and the seasons. But I had a bad accent and I broke my back and I lay in a hospital bed and I was just like playing to God when I was going for my second surgery. Just give me one more chance. One more chance and I'm gonna appreciate this body more. I'm gonna appreciate it more. I'm not gonna screw it up and and Luckily, I started to rehab and but I didn't just.
Speaker 2:I took respond. You mentioned about the financial advice and it's all about take Responsibility. Initially I wouldn't take responsibility for my injury. I was like, surgeon, fix me, and then I wasn't getting better and I was like blaming them as a come on, do a better operation. And then I was just like, dini, you've got to get involved. So I started to study human body. It was before the internet days, so you have to go to the library and get out as many books as I can about Human body, about core, about yoga, about just all information on how to fix your body if it's broken and and every other period of years. I done that.
Speaker 2:I went from broken back To finish an Ironman in three years, which I think is a good achievement. And then I was like I was a new person. It wasn't just about a super fit and in great shape and I look good. You know in what people would say that you look fit. It was more how I felt inside. I'd confidence, I'd motivation, I'd self-belief, I had a happiness, a joy, I didn't energy and I was just like, wow, this is amazing. I just want to teach this to other people. So I was like, right, I'm gonna build a business and I'm gonna do fitness business, because if I can cure myself for broken back, I help myself rehab so I can help people lose a couple of stone. That's gonna be simple.
Speaker 2:And then that was my journey into fitness and the fitness business and I've been involved in fitness ever since then, going on a couple of decades and I'm still involved in fitness To this day of a couple of companies in it and it's a passion of mine.
Speaker 2:But it did help me fulfill my a lot of my financial goals. It gave me more time to Stumble into the Bitcoin rabbit hole and the investment rabbit hole and understanding money a little bit deeper and I just sort of stumbled into Bitcoin slowly and then over the years, became more passionate and realized I've a lot of value on this thing. I've put thousands of houses of arrows into it and people want to learn and I can shortcut their success. And, just like fitness was, I was a massive passion of mine. Bitcoin was a massive passion, so I just started putting out some free, organic content and of course, it just developed into being a big guy and being a business big comedy. And here I am now working as a Bitcoin consultant, without ever planning for it to happen. It just seemed to organically, went that way.
Speaker 1:I Love it, man. So tell me real quick, before diving to Bitcoin, what do you believe in your like, what do you teach for fitness? What do you teach for nutrition? Because that those are two. Those are. That's one of our pillars here. Is fitness, right?
Speaker 2:Yeah, health as well so with with fitness and what my thing is, it doesn't matter. Just find something that you enjoy and do it. Obviously, certain training types are more efficient, depending on what you want to achieve, but but in general I'm just like find a community, get a bit of accountability, just the process, have a bit of consistency. Don't train too hard, which is what most people do. Okay, beginners train way too hard and professional athletes know how to manage themselves. When you see beginners in the gym, they're crashing themselves. It's a horrible experience.
Speaker 2:I wouldn't go back either, like I built up my fitness to be able to do. You know when I can do some mad Gymnastic stuff and it looks really impressive, but it's not killing me, I'm enjoying doing it. It's not hard. If I tried to do it on my first week or month or year I probably wouldn't have gone back. But just my Tagline with fitness has always been hashtag progress, progress, not perfection, you know. And just by being part of a community and having a bit of accountability you get consistency, and when you get consistency you get better at it and then you start to feel good.
Speaker 2:So I don't have a specific type of fitness, the same way as I don't have a specific type of diet. I've done every diet. I've been a vegan, I've been protein only, I've been carnivore, I've been high fat diet, I've been ketogenic. I've tried them all, not cause I had any certain beliefs in them, but I'm like if I want to teach this stuff, I need to live this way for three months to experience what it's like water, the benefits, water drawbacks, and and so I'm really open and I don't think there's a one-size-fits-all I. I sort of think it's around what works for the individual.
Speaker 1:So what are you doing now as far as nutrition, now that you've done it all, you've tried it all, what's your diet now?
Speaker 2:My diet now is pretty much, I suppose, single ingredient foods, you know. So I eat vegetables, I eat some meat, I eat some fish. Try and keep it simple. I eat fast. I do you know, five day fast a couple times a year and but, like full disclosure, my diet ain't perfect. I'm Irish, we like drinking Pints of Guinness, we like having the crack and I sort of you know, I think with the fasting it allows you a little bit more flexibility to you know, to maintain your health as well as trying to, you know, have the crack and enjoy the social aspects as well.
Speaker 1:Yeah, I think perfection is the enemy of progress. Anyways, if people are trying to be perfect, it's just gonna. They're gonna feel like a failure, they're gonna have setbacks and then they're not gonna ever be able to set themselves up to come back, because they're always focused on, you know, trying to be perfect and they're never gonna be perfect. So cool, man. So let's dive into Bitcoin. So you know, tell me, how did you get involved in Bitcoin? Why in the world would you back? Because I'm assuming you got involved early on. When the media is bashing Bitcoin, when you know all the big banks are bashing Bitcoin and BlackRock's coming out and saying, hey, you know, bitcoin is, there's no value there and, as you guys know, if you guys don't know what BlackRock is, they own, like everything, them and Vanguard. So you know what, denny? Why did you choose Bitcoin? Tell me that process.
Speaker 2:I suppose, like most people, I had multiple touch points before I actually fell deep down the rabbit hole. I've got some friends who were, you know, trading it and messing with it. You know, 2016, 2017, I was busy building business and I thought my bigger return is on. Oh, I like to be trying to be like really focused on what I'm doing and ignore everything else and I was like, no, my biggest return is by investing into my businesses. But I'd had exposure to it and then I came to a point where I had capital, I had money, and I was like I've got to put this money to work.
Speaker 2:I started to understand inflation and debasement and I was like, right, what do I do with the money? And before I was a Bitcoin or I was a Gold Bug. I've got a Gold Coin in my hand here. Okay, and I understood. I started to understand Gold. And then, as I learned about Bitcoin, the first thing I learned about Bitcoin was just that there was only 21 million. And then, because I have been an entrepreneur all my life and understand scarcity and value, I was like, okay, well, if there's only 21 million, this thing has to have value. So I spent months trying to just figure out how to could only be 21 million and that just led me down into it. And then the more you and this is why I always say to people I don't tell people to buy Bitcoin, I just say, study Bitcoin, because once you study Bitcoin, your life improves immediately. Okay, in the future your financial situation may improve.
Speaker 2:I think Bitcoin can teach you so much about delayed gratification. You know about all the. It teaches you about all the problems in our world all the problems in pharma, all the problems in nutrition, all the problems in politics. It just helps you understand the world much clearer and it also gives you this solution so that you don't need to wait till you have all the money. You've got hope, because all you have is your feeling today. I don't know if I'm going to be alive tomorrow or next week or next year, but if I can make myself feel better today and from working with clients. You know we've got a little group on that and the guys in the group you just see them that they totally changes people. They just totally. They come. They come for the riches which we all do. You come to Bitcoin to make money fast, but then the philosophy gets ahold of you and it really changes you for the better, I think.
Speaker 1:Yeah, I love that. So let me ask you this One trend I've noticed with you already is that you didn't have a fitness background. You broke your back and you said man, I really need to fix my fitness, I really need to fix my health and I need to be involved and not just expect some doctor to come in and fix me or some other person. Like I have to take personal accountability. I'm assuming you didn't have a financial background of like some sort of license in the financial world, did you? No, so, so no fitness background. You went out and built a fitness business by going to the library. Some of you young ins on here have no idea what he's even talking about with the library.
Speaker 1:Right, did I remember? Trust me, I get it. We grew up, remember them. Did they do this in Ireland, like when we were growing up as kids? They'd have these people come in door to door and sell these encyclopedia books You'd have. You'd have a, b, c, d, e, f and it'd be like all everything in the a category You'd have to go look it up. Did they have that?
Speaker 2:I think they did. Yeah, I don't think we ever bought them. I think I remember my parents looking at them, but we didn't have the money for them.
Speaker 1:It's so funny Now people. Obviously they take this for granted. You know they got a computer they can walk around with. Now they even have chat GBT. They can literally ask a question to and answer it. But back to it. So no fitness background, no financial background. So you know, guys, just remember, you know so many people. I hear it all the time you got to have I need to go get a license, I need to go get a college education on this, I need to go do this, that, just to get started. It's like no, you don't do, you don't. Just listen to Denny and how he's been able to create the success that he's been able to create by just going and taking action and figuring it out, like having the desire to want to learn this stuff and grow in that area. So, Denny, how did you learn? Where did you study for your? You know the finance world, Like what was your go to source?
Speaker 2:Deadly man. Yeah, it's such a good point. When I'm chatting to younger entrepreneurs and they're trying to set up business, they're always like because I made the mistake. This is my story. I remember my the start of my journey was I was living in a caravan. That's how poor I was as a trailer, I think you guys would call it. So I had no money in my bank and I was recovering from a broken back. So I was not a good asset. I was not in a good place and I was starting my business and I spent about a week designing a business card as if I was like Coca Cola or something I was like. Now I'm just like how come was that? Like? What were you even doing? You should have been like solving problems and seeing could you sell them. Solving problems and seeing that you want to buy it, as opposed to like working on your logo and your knowns ever heard of you. So that's what I do now. But where do I do my training?
Speaker 2:In my fitness side of things? I went to the college and all the courses flew around the world doing internships and very same because starting that journey, it showed me about return on investment and I'll just tell you a little story. When I had my fitness business and I was working in it maybe a year and I was turning over like hardly any money, okay, but I was passionate about it and I loved what I was doing. I just wanted to help more people and I jumped on this call with a with a fitness coach think I found him on social media was in the earlier days of social media marketing and found this guy and luckily he was a good salesman and he had this course to teach me how to become better at business and it cost 4000 euros. Now. At the time 4000 euros is a few quid. At the time it was every bit of money I had between my business bank and my normal account from working in the business. I had four grand I just over four grand. Now, luckily, I bought the course. I spent all the money that I had and took this course and Simon taught me so much.
Speaker 2:A year later the business is doing well, really, really good, and I'm like I spent four grand to take my business from earning a couple of hundred euros a month to be earning a couple of 1000 euros a month and it was my first lesson in investing of well if you can spend one euro to make two euros. You just do that every time you get a euro and you're just going to get more and more money. And that was my first instance in having an introduction into investing. So I invested a lot into myself, in my fitness, not just in how to become a better trainer, but also how to become a better businessman, because you can be the best trainer in the world, you can know the most about fitness, but if you're not a good marketer and able to sell, then no one's going to ever like you. Don't just build it and they will come. It's the marketers and the people who can sell are the ones who do best. So I focused a lot of attention into that because I'm like I believe in my product. I want to get this to as many people as possible. How do I do that? I need to become better at sales and marketing.
Speaker 2:When I started to fall down to Bitcoin rabbit hole, it was the exact same. First of all, I was like, okay, I don't really know anything about Bitcoin. I can spend all my time trying to learn and make my mistakes, but my time was finite. Fortunately, I'm in a position where I have some money behind me so I can pay other people who already know everything I want to know and they can teach me. So I went to you know some very prominent people in the space Simon Dixon I've done a lot of training with him.
Speaker 2:Andreas Antonopoulos, ivan on tech. You know, I just hired all these people to do all their courses and basically try and get as much information out of them as I could. To help me learn more, I invested in all the Bitcoin books, read all them and just put arrows and arrows of study into the thing. You know, until I was in a position where I was like, okay, I've got a good handle on this. I'm pretty good at investing, I think, and understanding money and managing money, because I've gone from caravan to, you know, having financial freedom in a decade. So it's just a case of packaging this up and trying to teach it to normal people to understand.
Speaker 1:Yeah, it's so true, man. Top of mind awareness. You know people don't understand that. You got to have a marketing mindset, whether you're in real estate, whether you're in fitness, no matter what you're doing, I mean, you know, in a bear market, who do people go to? Right, and it's the people who have the best ability to get that property in front of people. And if they're looking to purchase a property, who do they go to? Who do they think of? And I love that. So it's so true. So, switching gears Tell me, why Bitcoin? Why should people invest in the Bitcoin?
Speaker 2:Because it's the biggest asymmetric opportunity that people have in front of them. Bitcoin is like a gift to the world. I think, if you look at how Bitcoin was launched, satoshi Nakamoto just in case anyone doesn't understand the story was the inventor or creator of Bitcoin, but to this day, we don't know who he, she or they. Where Bitcoin is a transformational asset, where the founder didn't enrich themselves like find an instance of that ever happening before, because I can't. Satoshi has a wallet with a million Bitcoin sitting in it. It's one of the largest treasure chests of wealth in the world and he never, he, she, they never spent a single Satoshi of. Like. Bitcoin was a gift to the world. Give power to people to actually give you money that you can own. Bitcoin is so transformational that over this decade and the upcoming decades, it's going to change the world. Like Bitcoin, bitcoin is the first thing that you can actually take with you to the grave. You can't take your wealth to the grave. You can't take your property, your gold, your cash, your jewelry, your fancy cars none of that you can take with you but you can actually take your Bitcoin with you. Imagine the power that that gives you. That you can actually take. You have your wealth that nobody can take from you with force. So not even just at an individual level, but as as just a level of humanity. It's going to have to change how we work with each other, because we can't we can't steal by force anymore we. It incentivizes cooperation rather than violence, which is why fear money incentivizes violence. Other people have to lose for you to win. Bitcoin means everybody can win it's.
Speaker 2:I think of it as a really simple way of understanding to people who aren't familiar with Bitcoin. It's just a saving technology. It's a volatile in the short term. I teach people that, unless you're going to hold Bitcoin, are saving it for four years. Four years is the minimum. Okay, because every human on the planet who's investing into Bitcoin for four years has increased their purchasing power, or just means they're richer now than they were when they bought the Bitcoin. Okay, so that's your minimum holding period. If you have money that you want to save for four years, well, a percentage of it. I'm not telling you to put all your money in Bitcoin. Put a risk managed percentage of it. You might want to consider Bitcoin, because no other financial asset or does nowhere else. You put a, put your money where it was safer and gave you a better return over four years.
Speaker 1:Interesting. Okay, so what has the percentage been in Bitcoin for the past four years, Like what's the been in percentage of growth?
Speaker 2:I can't remember to figure exactly for four years. Its average is something like 160% over the last decade, which is insane If you put and this is where we all go wrong. It's the same in fitness. It's the same in everything that we do. We're so zoomed in that we like try something. It's like I bought Bitcoin yesterday and never went up the end. It didn't work. Or it's like I went to the GM yesterday and I never lost the four stone. It's like no, you got to go every day for the rest of your life. Like this is how it works. It's not something where it was an end goal. You just got to be consistent. It's the same in finance.
Speaker 2:People overestimate what they can do in a year in Bitcoin, but you underestimate what they can do in a decade. Okay, so if you plug in, if people just pull up a capital appreciation calculator, you put in like a five grand investment capital appreciating a 50% a year for a decade, like I'm not sure it's close to seven figures, like it's five grand. It's such a small amount of money relative to the amount of money people are going to generate over their entire lifetime. It's like you can take a little bet like that and they can potentially build you a pension of that size. And what if you're a bit younger? What if you're 15 years? Compound interest is the 800 world, according to Einstein. It's what I've used all my life, but with investing, and with investing and with education, of just compounding your education with fitness, it's all compounding your workouts. And that's what I try and convey to people is to zoom out, create a little plan. I know in crypto, it's all the crypto bros, we're going to get rich and we're going to do it really, really fast. But it's the same in every industry, every niche. It's just some people promise you need to do it all really quick and really easy way.
Speaker 2:But there's a thing in Bitcoin that I really understand and it's called proof of work. Because in fitness, you've got proof of work as well. No one can do it for you. You got to lift the weights for yourself and when you understand that concept, it's like there is no easy way. If you want it, you just got to do the work. Same in finance and money. Do some people get lucky? Yes, it's easy to win the lotto if you have yesterday's numbers and you've done the lotto yesterday. But that's not a strategy that an intelligent person would use to try and get rich.
Speaker 2:Okay, but on the flip side of it is by investing, like, anyone who invests over a decade will get wealthier, even if you're a terrible investor, because over a decade you're going to learn, you're going to make small mistakes, because you're going to start investing with smaller money, and as your education is growing, so is the amount of capital that you're actually managing. And this is why I'm like you should start now. Most people are like I need to save a ball of money, then I'm going to go and do it and invest. I'm like, no, no, no, you've got it all wrong. Start now. Invest a tiny amount because you're learning and you're building your skill and your competence to be able to manage the money. So as your pool of capital that you're managing gets bigger, so is your education, so is your skill set, so is your ability to be competent managing it.
Speaker 1:Yeah, that's great. So let's talk about BlackRock real quick. Blackrock, just you know, they filed it for an ETF. Many companies actually now are trying to file for a Bitcoin ETF. So, do you like, what's your belief on where this is going to go? Because you know, obviously there's a future to me that validates it. I mean, blackrock was bashing it just a few years ago and now they're saying you know, bitcoin is digital gold and now they're promoting it.
Speaker 1:So, whenever there's something that's happening, you know and these companies, by the way, they own the media and so it's very easy to see you know they're going to if they're bashing something, if they're bashing blockchain, which, if you guys don't know, blockchain is not crypto.
Speaker 1:Crypto is on the blockchain Blockchain has, it's a massive ecosystem. Bitcoin was what you know, introduced blockchain to the world and then the ecosystem grew from there. But the point of it is, whenever the media is bashing something, for a little while I'm always looking for trends to say what's on the backside of that, because, as they're bashing blockchain, vcs, venture capitalist groups, are investing billions and billions of dollars in the blockchain and I'm like, okay, something's, something's up here, and so that's why I started diving into blockchain and really getting excited about it, because I knew that whenever they're spreading misinformation and propaganda, they're probably investing into it, and they're making a lot of money by dropping prices, investing into it low, creating fear, selling it when it's high. And so what do you feel like since BlackRock is now involved? Now you know, and you've been a Bitcoin enthusiast, but, point of it, my question is is where is Bitcoin going and as far as? Again, this isn't investment advice, but where do you think it's going to be in the next year, three years, five years?
Speaker 2:Deadly, yeah, so BlackRock coming into the space is going to totally change the game. I actually just done was chatting about this earlier on my Instagram. But when the Gold ETF launched, gold was $200 an ounce in around then. Today, gold is 2000. So Gold done a 10x? Now the thing is Gold is around 5000 years before the ETF came out, okay, so it wasn't like a new product on the market.
Speaker 2:Bitcoin is only out 14 years and now there's an ETF going to be launched. So in relative terms, bitcoin is just tiny. That last up. So I don't think it's going to do a 10x. I think it's going to do 100x. I think it's going to do 1000x, not in next year or three years, but over, given enough time, because it's such a small asset in comparison to Gold.
Speaker 2:And if we look at Gold versus Bitcoin because, as I said, I was a Gold bug first, I was into this, you know Gold whereas Bitcoin is digital Gold and, just like a CD is an order of the CD, is your physical music. Well, bitcoin's Amazon sorry, spotify is a digital music and it's an order of magnitude better. Well, bitcoin is an order of magnitude better than the shiny rock, okay, and this thing at value for 5000 years and Bitcoin is just a digital version of it, among loads of other things. So I think BlackRock coming into this space and Larry Fink is that his name, the CEO or whatever he is he's over BlackRock. He's just opened the floodgates. Like to me, it's.
Speaker 2:I don't like people to get in a frenzy and just to start pulling out the credit cards and buying Bitcoin willy-nilly without understanding risk management right, and that's why I always say study Bitcoin, study investment principles before you do anything. But, like to me, it's just like. This is plain as day, obvious If you can't see where this is going. The largest, basically, bank in the world, which is BlackRock, as you mentioned, they own everything have literally given you the go-ahead to say this is digital gold and physical gold is valued at 20 times more than digital. It's like saying, spotify, the CD manufacturing industry is 20 times larger than digital music. Well, we know how that went. So it's just plainly obvious that Bitcoin is going to go up in value. It's going to go up with volatility. You're going to have big hedge funds trading it and manipulating the market and, like BlackRock you mentioned, the media is very much controlled so you can get people in a frenzy to buy and then rug pull them to sell.
Speaker 2:As an investor, though, and how I deal with this with all our clients is like you, allow those games to be played. We're not big enough entities to be able to move markets or control that. All I know is there's only 21 million Bitcoin. It's the scariest thing on the planet. It's scarcer than gold.
Speaker 2:It's a finite asset, and all you've got to do in the next 10 years is just make sure you own some. You don't sell it, you don't trade it. Well, that's our strategy, because it doesn't make sense to any of my friends who've sold Bitcoin. Yeah, they made a few quid, they put a few grand on their bank account, but they sold the highest-performing asset for euros. They sold an asset that's going up in value for an asset that's going down in value. So, unless you're selling it for a reason like I want to clear my mortgage, I want to take my family on a once-in-a-lifetime holiday, perfect, sell your Bitcoin, but if you're just selling it for euros in your bank, it doesn't make sense from a money-managing standpoint, because you're selling a good asset for an inferior asset. It's just a bad trade.
Speaker 1:Yeah, so I had a friend. It's funny, I had a friend A successful friend too, by the way he's crushing it in real estate. I mean, he just bought a $4 million property in California and he back in the day I think it was like 2016, maybe 2015. And maybe it was 2016. I can't remember the price of Bitcoin, but it was really low back then, obviously 2016. He bought over $150,000 or $200,000 worth of Bitcoin and then obviously it crashed Right. And then I remember him just sitting down with me, somewhat defeated during that process, saying, dude, I put a lot of money in Bitcoin. Never again. And it's like man. If he would have just had the emotional maturity to be able to handle that down cycle and not just invest to get rich. But what you're saying, if he would have studied the game and believed in what he was investing in, where would that be today? Incredible.
Speaker 2:Yeah, you got to price it in asset terms. I think when we're building the digital portfolio, you're pricing it in the amount of Bitcoin, not the Euro value of it. You're pricing it in. If you own one Bitcoin, well, if you own two Bitcoin, that's better than one. It doesn't matter what the market's value on that.
Speaker 2:Today, just like in 2008, we had a big financial crash here in Ireland I think everywhere in the world had it, but, like a buddy of mine bought up an apartment. This is a true story. He bought up an apartment 45 grand. He paid for it. A month later, the apartment next door to him it sold for 35. He was like man, I got screwed, I got d-d-d-d-d. However, today, both apartments are worth about 350 grand. Does that 10 grand matter? No, how do you have sold it? It matters, but he wasn't valuing it in the asset terms. He's like well, I have the apartments, the market is valuing it at 35 grand, I paid 45, so be it. I'm going to hold this thing for 10 years, so it doesn't matter in the short term because he has the asset. And these are people who go wrong. They're valuing it.
Speaker 2:In the current market. Bitcoin always crashes. It goes up and it crashes, but each time it's finding a higher floor, a higher floor, a higher floor. And we're only 14 years in. Imagine when gold started to demonetize silver and all the other monies, if people were like I miss gold 14 years in, when we're still trying to buy it, like 5,000 years later. This is how big the opportunity is.
Speaker 2:If Bitcoin is what we think it is, which is a new form of money, arts, digital property, arts, digital currency, arts, digital gold, arts as a payments network. It's so many things that it can be Our new financial asset, our the perfect pension. If it fulfills any one of these use cases, well, it's worth an order of magnitude more. And if it fulfills all of those use cases, well, it's just like no one's missed it. There's more upside in front of Bitcoin than it's already had, and I think that's where we go wrong is we're again, we're focused on the short term or what we missed, or we go.
Speaker 2:Well, bitcoin is X price today, and it used to be. It's $30,000 for a Bitcoin today, and it used to be 10,000. So I think that's too expensive. That's nothing to. That's not where the price of Bitcoin comes from. The price of Bitcoin is just fundamental map like it's just what is the market cap divided by 21 million. So it's irrelevant what I feel is high or low for the price valuation. It all that matters is adoption, and the adoption looks like it's only going up. Yeah, yeah.
Speaker 1:Yeah, absolutely. You know, and and I think there's a lot to take away from this. So, danny, I mean it's been a great podcast. I think one thing you guys have to understand that if you're listening to this and you're saying, okay, I love what these guys are saying, it all makes sense. One of the major takeaways that I want to get to you guys from this and I know Danny does, as well as just having investors mindset Like you guys have to raise your financial thermostat because, just like all these people, they win the lottery and you guys could win the lottery in Bitcoin. What are you going to do if you do?
Speaker 1:Most people who win the lottery lose all the money because they don't have. They don't have the finance their financial thermostat is set at, you know, 30 some degrees. I mean, you got to look at the current stats of the US. I don't know what it is in Ireland, but I know human psychology is probably pretty similar no matter where you go and 78% of the population live in paycheck to paycheck. 4 out of 10 people don't have $400 in a bank account. 7 out of 10 don't have $1,000 in bank accounts, because people spend all their money, they make money and they spend money.
Speaker 1:I know people who are successful, literally crushing it. One of my friends made over, you know, close to seven figures last year and I hit him up and he the other day for a potential investment opportunity and he's like dude, I don't have any money. I'm like what do you mean? You don't have any money. You made like seven figures last year almost and he's like dude, I spent it all. He's like I'd rather spend it on having fun and enjoying life. Then I'm like I'm like you have a life wrong, bro, like this is the problem You're going to be working for the rest of your life. You're going to be a slave to your business or your job for the rest of your life because you don't know how to take money, grow it and multiply it, and so, anyways, I just had to put that out there for you guys, because I think it's such an important conversation that none of these influencers are out there talking about today, because they're going to be like I don't know what they're talking about today, because all of them just want you to see their nice cars, see how cool they are, and they want you to go broke trying to look rich, and I don't want that to happen.
Speaker 1:So you said Bitcoin is a potential 100X. That's a. That's a strong statement, my friend, and I'm not disagreeing. I just have to confirm that you're saying that Bitcoin will be one day. Let's just say, right now it's at 20,000. I don't know what it's at, it's probably a little bit higher 30,000. It's going to be 2 million to 3 million per Bitcoin. You're thinking.
Speaker 2:Yeah, 100%. Once Bitcoin keeps working and doing what it's doing, it's inevitable that it sucks in all the world's capital, or the majority of the world's capital. We won't invest in real estate anymore. Why would you? It degrades. You've all this tax. You can't move it around. All you're looking for anyone who's got capital. All you're trying to do is find scarcity. That's why you put it in real estate, because it's hard to build more. It's why you put it in gold. It's why you put it in the stock market. That's just like some companies creating scarcity. Apple are the best at doing what they're doing. No one else can be an Apple. Okay, they're manufacturing a scarcity.
Speaker 2:Well, bitcoin has manufactured perfect scarcity. It doesn't have any of the risks. It doesn't need any of the human input. It just every four years, the supply of it is cut in half and it's finite and no humans can make more. So it's perfect scarcity. It's digital scarcity, just like everything else that we've digitized basically takes over from the analog product that it replaces. It doesn't just take 10% of the market share. That generally takes 99.9%. So Bitcoin is already the perfect asset. It's just. Most of the world hasn't figured it out yet, but they will, and they don't need to, because Bitcoin's just sucking capital out of everything regardless.
Speaker 1:So if that's the case, right, there's 21 million Bitcoin next year. Talking about the having of Bitcoin again, so tell us about that.
Speaker 2:I'll explain how the having works, because I think this is good in someone trying to understand the valuation of Bitcoin. And first I'll explain it in terms of maybe a business, maybe a barber shop. So let's just say you live in a big city and there's 100 barbers in the city. Happy days, they all have a business and it's got a valuation. If every four years, let's say I'm a barber, now this couldn't happen in real life and I won't really do this. Well, let's say I'm one of the barbers and every four years, I pull out my shotgun and I'm like Dan, it's too busy, okay. And I go around to 50% of the barbers and I say lads, get out of town, you're not cutting hair anymore. So then there's only 50 barbers in the city. Is each barbershop making more money? Yes, they are, because they're scarce or asset. Now, remember scarcity and value. Four years later, I say you know what that worked? Pretty well, I'm going to go around and get rid of another half of these lads. Now there's only 25 barbershops in the city. Are they all making more money as an individual shop? Of course they are. Now, this couldn't really happen in reality because the free market would just go hey, we need more barbers. All those shops are packed. Let's open up a barbers.
Speaker 2:But in Bitcoin, this can happen. This is what happens Every four years. The supply of Bitcoin is cut in half and then the asset has to be repriced because it's twice as scarce. So I'll give you a simple analogy. Let's just say I'm the only Bitcoin miner. These are this is how Bitcoin is created and I'm the only place you can buy Bitcoin on the planet.
Speaker 2:Okay, so I have Bitcoin here, all right, and the six Bitcoins created every 10 minutes at the moment. So there's one, and you have to imagine two, three, four, five, six. So I've six Bitcoins on the shelf. Six customers come into my office here and they say I'll have one, I'll have one, I'll have one, and I sell them all out the door. They go, the price stays at $30,000, provided no one who owns Bitcoin sells it, all right, and this goes on and on and on. Six customers, six, product, but there comes a date in April 2024, where I'm only going to have three on the shelf because the supply of Bitcoin cuts in half. So now six people.
Speaker 2:If the demand remains constant and six people walk in here now we've a problem If this was gold or any other good or service or commodity on the planet, the free market would just be like make more. They'd be like Dini, get us more Bitcoins. We don't. The only variable is the price. So three of the lads have done their work on it and they go. Those Bitcoins work a million. I'll pay 35 grand for it. All day long, happy days, out the door. They go.
Speaker 2:10 minutes later I've only three Bitcoins on the shelf One, two, three, six people come in, plus the tree they didn't get at the last time, plus another six people are after here and the price of these things have to go on up 10% in 10 minutes. Okay, wind that on two months. And I have a thousand people in my office all bidden over the three Bitcoins that are on the shelf and I can't produce anymore. So the only variable that can change is the price. And of course, yes, we're as humans. We go into a frenzy. Bitcoin gets overbought and we go up to these real high prices and then the big hedge funds, the big whales, manipulate the market and they rug pull and they sell a load and the price crashes back down. But we crash to a new floor, a higher floor than before. So people who just want to be hodlers and own it as a property and just keep it are just like. I love when the price crashes. I love bear markets.
Speaker 1:I get to accumulate Bitcoin, but that's basically the halving in the scarcity. No, that's a great explanation. I never heard it like that and I think that puts a very easy understanding to it. So I think it's important for people to understand too, because it's very easy to say, ok, well, if it has every four years, when can it reach zero? But I think people need to understand that they're constantly mining, but they're constantly mining more though, right, so it's never going to reach zero.
Speaker 2:That's correct right Does, there can only ever be 21 million Bitcoin. It'll take over 100 years for us to reach the 21 million when they won't be mining anymore Bitcoin. At the moment, the six mind every 10 minutes in 2024, april, we go to tree 2028, we go to 1.5, 2032, we go to 0.75, then 0.375 and on. So you can see that the issuance is really dropping off a cliff. But in 10 years time, the amount of Bitcoin that the whole world gets argue over purchasing is worth a couple of thousand today. So every four years the supply drops. So there will come a time when we're not mining anymore Bitcoin and it's just a finite asset.
Speaker 1:That's a long time from now, so OK. So let me ask you this what I recommend people doing, because some people might look at Bitcoin and say, ok, it's worth 30,000 right now. Dude, I don't have $30,000 to be able to put into Bitcoin. Well, you guys, one thing I would suggest if that's what you're thinking right now is just remember and then you can hit on this is that you don't have to own a full Bitcoin. The goal would be to try to get as much and accumulate as much as you can before the having process, and just not even just only look at it as between now and the having process. But it's also if you truly believe in Bitcoin. You truly believe in the utility behind it. This is a long-term game for you, right? So just get as much as you can over time. What's your opinion on that, denny?
Speaker 2:Yeah, no, that's exactly it. And every month I just try and own more Bitcoin than I did the previous month. So I don't buy them as bitcoins. You can just decide. What we do is we try and get people to treat it and build it like a traditional pension. It's just every month. Let's say, 500 euros out of your wage packet goes into a traditional pension. So we do the exact same thing Every month.
Speaker 2:You decide on your figure X amount. Maybe it's 500, 200, 150, it doesn't matter. The figure is relative to. Everyone's going to be different. It just goes into Bitcoin. So the price is relevant. I don't care what the price is today, because it doesn't matter. Up down, left right, it's splitting hairs. It's relevant If you're investing into the stock market for 10 years. If you're investing into a Bitcoin market for 10 years. The price changes so much. Just like 10 years ago, it didn't matter if I bought Bitcoin for 30 euros a coin or 50 euros a coin. It doesn't really matter in relative terms. It's like what the hell? You just should have bought more is the answer.
Speaker 1:So what you're saying is dollar cost average, and meaning if you have 500 bucks to invest every month, you don't look at the price, you just, on a certain day you get paid cool, take $500 and put it in if that's the amount you have. If you have 100 bucks, put 100 bucks into it. And you do that because, let me tell you, money that's sitting around gets hungry and it will get eaten, meaning you will spend it, guaranteed, almost 90% of the time. Look at the average person, like I said earlier, who it makes a lot of money. They spend a lot of money. So if it's just sitting around your bank account, it's going to get spent. So, danny, any final words, man that you recommend people, any final things that you want to tell the audience?
Speaker 2:I would just say study Bitcoin. Read a Bitcoin book, I think is insanely more valuable than just watching, you know, showy videos on YouTube. Actually buy a Bitcoin book and take the time to study it. I think you'll really get a level up and really understand what's happening behind the scenes, as opposed to just looking at headlines, because the headlines are pulling drag. It's just about grabbing your attention. So it's like Bitcoin good, Bitcoin bad, ah, ah. So you don't really know what to do. So you got to look under a hood on most stuff and that means, you know, putting a bit of study into it yourself, and I think once you study Bitcoin, you'll really understand the potential that it has and why it makes sense to have a small position in it and not be at zero.
Speaker 1:So who do you follow as far as advice for Bitcoin? Who do you recommend? What books do you recommend? These guys go look at YouTubers, you know, because there's just a lot of misinformation. There's a lot of influencers out there who act like they know what they're talking about, and 99% of them that I've followed have been wrong, and so you know like there's some really true great people in the industry. Like one person. I recommend everybody follows Stefano Tresca. Stefano is an Italian lawyer who will take three centralized exchanges in the crypto world to the market. He's launching his own decentralized platform literally here Q4 of this year and he's probably one of the top 10 guys in blockchain. So I recommend everybody follows Stefano Tresca because he's a real player in the game. What about you, denny?
Speaker 2:A book that I like to direct people to is Everything Divided by 21 Million, because it's beginner friendly but it also goes super deep. It's a Bitcoin book Also. The Bitcoin standard is a really good book, but I think for entry level it's tough. I struggled through the Bitcoin standard like twice. So I'm in my third read and from being in the space longer, so I don't think it's good to direct the beginner to it. But Everything Divided by 21 Million I think that's a nice beginner entry book for people.
Speaker 2:Probably my favorite person in the space to get really good advice from is a guy called Simon Dixon. Simon was the first investment banker in Bitcoin. He wrote the first published book on Bitcoin and there's no shills or anything like that. Unfortunately, in the space and I'm in the space and there's not a week goes by I don't have an email from some sort of a company asking me to talk about something and full disclosure. I'll say it's difficult to go. No, I don't want your money. No, I don't want money. No, I don't want money, and you can see why the whole space is shilling and selling people things.
Speaker 2:I suppose I'm in a fortunate position where I'm not driven by money anymore. I met my financial goals, so it's easier. But I know if I was earlier in my career and struggling for money, it'd be very easy for me to go. I know effective, fundamental advice. I'd be able to sell this, I can sell this, I can sell that.
Speaker 2:So, yeah, simon Dixon, really good guy to follow, and I suppose just Bitcoin can be difficult. It is difficult and it takes time, but, as I say to people, you become a brain surgeon in four years and that's pretty complex. So what can you learn about Bitcoin over the next four years or 10 years, please God, we're going to be alive for a while, so just a little bit of time studying something and you might find it gets ahold of you and we call it falling down the rabbit hole, because the more you study Bitcoin, the more the world starts to make sense and the more you're sucked into studying it more and then it really brings out the positivity in you and then all you want to do is try and teach other people or try and build in the Bitcoin space and help this world be realized that Bitcoin has potential to bring, to change its world Absolutely Awesome man.
Speaker 1:Well, you know, guys, what I would suggest doing is go follow Denny Denny. His Instagram is Bitcoin with Denny, okay, and his website is Bitcoin with Dennycom, right, denny? That's those are your two places where people need to follow you. Is anywhere else that you recommend?
Speaker 2:Yeah, man, youtube. We've got a podcast like yourself. It's just evidence Bitcoin with Denny. Type it into any social what's your podcast?
Speaker 1:Where can they find Apple Spotify? What's it called?
Speaker 2:It's called Bitcoin with Denny. It's on all the podcast places here YouTube and Spotify.
Speaker 1:Awesome guys. You know he's done a great job with branding Bitcoin. With Denny, he can literally Google it, YouTube it, go to Instagram with it and follow him. He's always putting out great content. So thank you, Denny, for your time today. Thanks for bringing value to the audience and looking forward to meeting you one day in person.
Speaker 2:Awesome man. Yeah, thanks for the invite. It's been awesome, jati, and me too. Thanks.