Transcript of Episode 122 - Stock Market Cryptocurrency Bitcoin
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00:00:00| I have the startup that's gonna go public I need a little angel investing I need you guys to jump on board you know a little in a little cash jump in on the stock you don't want to miss this train
00:00:19| we're gonna ride it all the way to the top I'll ride that bull until it multiplies so you're gonna get a 10 20x return on this investment you're gonna ride these stocks until they go to the
00:00:30| moon Hodel cuz this is gonna be a wild ride so I'm Dan Oh Nick folks for old friends dissecting one topic at a time people technology meeting you've got it all
00:00:47| covered discussion here deep dive indoors perspective taboo jeez they're all on the chopping block baby we don't pander to popular opinion Mike you can get a little bit dirty
00:01:02| morning this podcast may contain mature language and sexual content and is for entertainment purposes only so join us have a good time okay let that resonate in your chest folks hey feel it hey hey
00:01:36| oh hey so we're gonna talk about hey Doc I'm Dan Nick and thanks for joining us yeah why can't believe they're good they're still here yes they've watched us for over a hundred episodes if this
00:01:53| is the surfer series second series is pure episode today Nick is also drinking wildly tonight to cover his depression he's masking it he's hard we don't call that depression we actually call it bull
00:02:10| he's uh I'm bearish on Nick's attitude right now barish I'm bear I'm in bear mode right now big bear big so it's weird because there's different people in my community
00:02:22| some are hairier than others some are the bottom some are the top some are powerful some are the bear some are hairless they're Twinkies we call them twinks you're gonna fly everything
00:02:34| away beginning you need to I need you to be a better joke joke couldn't handle being called the bear you are very funny I am someone's that but I trim my body air yeah okay stock and growth stocks
00:02:54| folks stocks ding ding ding ding ding mad money we're talking Kramer here have you come to us for advice we cannot give it to we hold positions in certain of certain holdings that may
00:03:07| or may not be will swayed by the outcome of this podcast I don't know if it's gonna be worthwhile I might be negative actually I should sell right now I should sell it's going down is so very
00:03:18| pail no bye bye now bye bye bye yeah snow um when he's getting at folks is he's got money in the stock I don't show anything he says doc don't trust a word the man says trust your guy over here
00:03:35| Nick all your base are belong to us stop I was talking to someone about that the other day but mm-hmm anyway so what what what is the stock was when's it become a stock was it like
00:03:49| I can buy Google like a my Apple no one knows what that means do they what's the stock what is your stock well let's go to Wikipedia favorite supplier of information would
00:04:01| you just call this podcast Wikipedia expanded Excel no it's so if you have a company and you expand really fast you put your company on the public market so the public market allows other people to
00:04:13| invest in your company and it's typically through an IPO anyone its I'm serious no idea initially its brokers who value your company at a certain amount it's a valuation and you get a
00:04:27| group of them to buy into your company and then they use their shares to buy it to lower people which are usually accredited investors which is their certain income
00:04:36| requirements or they're used usually stipulations based on how many how close in with the broker they are you need to meet your request snick II I didn't know that there are
00:04:48| rules of that like you can't be BFF with the broker you can be BFF of the broker that's the thing is okay if you are like a preferred customer you get a shot at the IPO which is initial public offering
00:05:00| public that's so funny I actually knew what an IPO was but I didn't know what it meant so it's like the first shot at the stock is that what that is yeah pretty much
00:05:10| that's not the main route that most stocks take to go public so they sell a portion of their company for a certain amount for it with its own hold on let's do it with the on panners okay we're
00:05:21| value campaigners is what do we value put like half a billion half a billion mean it's not do a nice even number so like a hundred billion no hit a hundred million ponder okay fine I'll be fair a
00:05:34| hundred million this is a startup here and I own so we're kind of it 70 I'm giving you over half okay this is a barter system yeah the my lawyer has he's nodding he's saying yes he's
00:05:50| naughty this is okay acceptable yeah all right fair can you worm you won't list oh I can't do math like that already percent need a calculator anyway no no what I'm saying is so we
00:06:06| decide to go public the same thing and who do I talk to Hey IRS we're going public is there a company we go to is this exchange investors like you would go down to you
00:06:16| you make it so that people knew so the brokers now grab people with the money that's public knowledge they call it a roadshow so like you go on this road show and
00:06:25| then everyone company show for the other hand there is a show I'm gonna wear that that pair of underwear you got me hahaha that's how you gonna make your money we're gonna garner some attention tell
00:06:38| ya that we got attention on Wall Street so you got a road show and every one of money every investor every broker will look at what you trying to sell and then they'll buy a certain amount and you can
00:06:47| slightly shake myself at them and say hey what do you think we're worth trial it probably not a hundred million probably not yeah so they so then mm-hmm they will invest
00:07:02| in your company give them a certain percentage of stock and on a certain day your stock goes public everyone else starts trading it and what does that mean
00:07:09| sure so the price of a stock is dictated by what supply and demand yeah pretty that it yeah you have a noble price in a bid price and they meet in the middle and that's the price that I see cool
00:07:23| that makes sense it actually does make sense you know how much people want it where's this how much you're offering it for hey you're you're you're pricing it way too much so you got to bring it down
00:07:34| or hey this isn't great set it says so much demand people you want people I want everyone there's so much hype involved they view their their Quarterly's are off the charts they got
00:07:46| so much volatility it's perfect time to jump in right now I'm telling you Oh Gossett baby they're gonna miss this train it's gonna ride you a way to sugar town so so who's making the money here
00:08:00| the investors and brokers early getting guys who are buying and selling if they're selling high or slow yeah if it's if it's an IPO and it's in a period of prosperity there are certain IPOs
00:08:13| that are like if you buy in right it's a lot at the time that it is like right the day before which is like the brokers and cost of going in a stock you can sure like 10x your money in a short
00:08:25| amount of time like it's wild within a few months mmm it has happened so it's crazy so then what happened so um John Q public I'm sitting at home my favorite podcast is the unmanned doors I friggin
00:08:40| watch it every week it's wicked good that's not a part I guess that's not a Chicago that's my kid good wicked let's say he buys 10 shares let's say he has enough
00:08:50| to have 1% of the company by the way the shares are broken up by houses random at the shittiest episodes first 10 shitty apples in a real scenario if someone buys stock and something like our
00:09:07| company what would they be getting just say in our like what are they buying into actually they're buying in our revenue so nurture future revenue they're expecting us to continue
00:09:18| podcasting they're expecting as I grow the key there any money there they own part of the content technically and they own the brand if we were to merchandize anything or gain advertising bucks that
00:09:31| would be do they have any say and anything we do it depends how much they own so if so if it's under 50 it's like yeah well you could have if it was like I put my shares up for public use then
00:09:45| it could be like 30 30 40 and they could have a controlling interest because they'd have a luxury bath usually it was the highest amount controlling amount correct oh yeah but usually it's like
00:09:56| I'll just say to people company versus other people because you would probably side with me hopefully because I'm we win 6040 technically but if they had 51% or 50/50 then they can dictate what
00:10:09| happens they could fire us and replace us with whoever they wanted you people at home you in Chicago god bless you oh my god so wait can you force your way to buy something and
00:10:24| destroy it uh-huh like if you're a billionaire and you see a stock and it's you really hate the UMP Anders you could buy like 60% of their stock and hope that this me and you who were priority
00:10:38| shareholders would sell I mean there's a price for everything to take off so then he would yeah so he takes over and then he fires us because he hates us yeah I mean does that preclude us from
00:10:48| starting another podcast or how's that work I'm sorry there's a pool you know I don't know what that would mean you would probably give his turn to say you
00:10:55| two can't be together for a podcast for at least you know two years whatever he would stipulations on buying us out and everything you know can they kick us to
00:11:02| the curb and then nobody do with a brand just sink it because he hates us maybe he sees something in it that we're not doing no no I think he just did it because he needs us so you're gonna play
00:11:13| it off better yeah yeah better for us worship I just hope he doesn't ruin the podcast and give us a billion dollars each okay terrible so why haven't you invested oh I don't have a disposable
00:11:27| income if you did would you invite net I would think about it it's one of those things where I'm COSO I am cautious but it's not just caution it's I don't like fake money is that a thing can I talk
00:11:42| about something you can't hold they can't touch in your hands we talked about this and they didn't even see this episode that yeah that's correct so my father always hated my science facts I
00:11:52| was always into science hey dad did you know Venus can get to 500 degrees Celsius at night and negative 200 in the morning or whenever and he'll be like who told you that and I'd be like it was
00:12:03| in this book it got published I might be like how do they know and I always feel like it's in the book dad you have to respect the book anyway my favorite subject is science
00:12:16| I love outlandish facts I love crazy stuff I like to habit always just look at me whenever I told me say GU thing how do you know because my dad's a very you got to feel it
00:12:26| you got to be there you got to put your hands on it I'm gonna make first night like I can touch the burgers we're gonna make burgers like you mean we're gonna cook it
00:12:34| don't touch my burger he makes really bur my dad's a great cook actually I give him full credit that's one of the secret talents that didn't rub off on me getting better at it but that's my thing
00:12:47| like to this day I think I still don't believe in money I can't touch investments because you think someone's gonna take it you know look back at your account and I'll be gone I think so a
00:12:58| little bit and and another thing like I can't there's no one I can talk to there's no it's not like I'm handing my money to Jim Jimmy Fox Oh 107 and baling hay Jimmy Fox Oh house I think doing
00:13:12| he's like it's doing goodnight the other day we made 1.1% I'm just telling you there's no one to tell me that I'm just looking at numbers on a website or a computer screen and hoping
00:13:24| that this money wherever the flying hell it is it's making me more money and it's gonna come back to me and as as an individual who doesn't make a lot of money doesn't have a lot of breaks
00:13:36| doesn't have disposable income I feel like everything's out to get me and usually anytime I invest in something that gets screwed so now does that make sense I understand your fear and that's
00:13:54| it is what it is I also I don't have money to throw around experiment with so if I did maybe I'd go off sometimes it works sometimes it doesn't this makes sense so see I don't say you
00:14:05| had 10 grand to put in and okay 1 grand to put in just let's make it 1 let's make it 1 grand this is a ridiculous number anyway but ok and you're 30 ish now I'll just say 30 say
00:14:22| you held it until you're 40 now that's it stop yeah cuz they say SP 500 is an index of the top stocks in I think the United States think they're American ok it might be right now 500 top 500 so say
00:14:40| your lesson that the historical return is 7% so that means in 10 years and is that hold on it's at the top 500 stocks you kind of divvy up your money into them so now you don't there it's called
00:14:52| it's a fund index fund so an index fund will take the top stocks at the time and distribute your money for you because they hold positions yeah based on how the market cap which is the total value
00:15:04| of the company is at that time so they'll divvy it up based on that and then it will be auto shuffled around based on what stocks are are coming up for dropping out this is the [ __ ] that
00:15:16| bothers me basically one auto shuffle like I'm like a little bit like this don't trust it I really don't not fearful I know if someone gets screwed
00:15:28| it's a guy with the lowest amount of money cuz no one cares about them I can't sue like I'm I'm literally the guy I'm him I'm the one who if it doesn't go right and they have to cut
00:15:41| someone it's me see right I'll say it right now there's I'm not saying they will cut me I'm saying if something goes wrong I've been involved in stocks where something went wrong and there are clash
00:15:51| acting class action lawsuits because they didn't treat stock of the same class the same okay so if there's something that goes wrong someone with more money will sue on your behalf and
00:16:02| then the class-action lawsuit will come back I've gotten like seven dollars out of clash of the class-action lawsuits and it actually was a benefit of one that had to do with school loans I think
00:16:11| they're giving out phone numbers or something and don't even know how is in that collective or that I got harassed by phone calls but I took the 17 dollars I got 17 on that one berth to the bank
00:16:23| look for me you can sue me back also look getting it I'll cover class of stock there's different classes and you can determine who has voting rights so part of that like majority owner depends
00:16:35| on your class of stock you can create stock that doesn't have any voting rights which means they will never take ownership of your company so it's just like revenue stock or something is I
00:16:44| Class A B and C in stock that is just for dividends as well as gains which is the increase nice jeans don't you want these gains baby mm-hmm so if you held a thousand dollars
00:17:02| in an S&P 500 index fund for ten years you would double your money so that means if and this is inflation adjusted if you were thirty and put it in there by 40 you'd have two thousand by 50
00:17:15| you'd have four thousand and by sixty eight of eight thousand dollars no exciting a long long wait to add a thousand dollars but this is compounding exciting that is compounded yeah because
00:17:29| you're saying it cool compounds in Iran itself if you high a hundred grand you'd have eight hundred grande by the end of that round that's pretty good yeah that's what people Bank
00:17:41| on it's the financially independent retire early movement that's people in their 20s putting in as much money as they can because after that it matters that much less which is a waste arable
00:17:52| way to put it but if you're in your 40s in retiring or trying to retire early and you don't any savings the compounding interest doesn't help you as much as if it was in your 20s it's a
00:18:04| time thing yes hmm value growth with some virtue interesting I don't like it so there are pieces that there like people that are alpha alpha traders they try to like
00:18:21| seduce you into buying into a stock they kind of suggest that oh it's it's the right time it's got a MACD it's got an EMA you're gonna do all these sort of crazies like the throwing acronyms bell
00:18:32| oh yeah look at that it's gonna it's gonna bounce right up it's gonna hit off the bottom and you just gonna pop it's gonna pop they throw out these terms yeah I'm like Candlestick indicators
00:18:42| it's got it I know G is three white soldiers is you Black Crowes black crowes Black Crowes you just wanted buy buy buy just get in right now those people pissed me the [ __ ] off I hate
00:18:51| those people so hold on also for the for the listener you want to buy something when the stock is shitty you want to buy with this cheaper growth ahead of you and there's hype growth and hype sure so
00:19:07| the idea is buy it when it's worth less than it will be worth later I have that's a terrible way of saying it by below and sell it when it's highs what they say yeah
00:19:20| or if you have cryptocurrency just hold on hold on oh damn we're getting into [ __ ] oh crap oh you go cryptocurrency of course I'll go cryptocurrency so we get rollin way to buy mm-hmm only way to
00:19:35| buy what only one of my black pie on the black market don't you want some pie yeah Paul's been illegal for 10 years MA imagine pie was illegal in Britain and then you had to buy it on
00:19:51| the black market you have to use cryptocurrency so what is cryptocurrency ultimately it's supposed to be a form of currency it's essentially indelible so you have this really long number that
00:20:05| raise your wallet and you have this really long number which is the key to that wallet and it's pretty much unbreakable and then every transaction you do gets folded into a giant
00:20:15| blockchain that means that it's on a ledger it's saved and that is indelible so you and everyone can see the block pain correct yes they can mine through it and look at it and it's so here's my
00:20:30| question even put it in Dumber terms okay it's fake money yep it was given a value okay we'll say each cryptocurrency is worth a thousand dollars value is different than price which I felt was
00:20:46| wild when I was researching this so value is the inherent worth of something the price is what it is being traded at correct so it's sold at a price sorry let's say let's say Bitcoin that's the
00:21:01| big one right yep is that's a number one right a bit bitcoins number one that one of the earliest two it was I think is a the original it was started by was this name Nick Satoshi Nakamoto yeah this is
00:21:15| a march on Campbell 170 trillion dollars holy [ __ ] that sounds like a lot doesn't it so what he did or he or they because no one knows who this is because it could it was anonymous technically they
00:21:30| created some computer code that essentially did all the mining the generation and the ledger and the checking out of transferring of money pretty much made it so that it didn't
00:21:42| need human people to be involved in the transactions or the treatment everything's gonna be regulated but what it is is this is you buy into this you get an X amount of these tokens will
00:21:54| call them coins Bitcoin as it said it's you buy it at X amount of price the more people that buy in the more people that start using it more transactions or the more companies that
00:22:07| start saying okay we'll accept Bitcoin the more its value increases and so it's worth more on the market it's a message the juice is supposed to be the value but I think it's really being used as
00:22:18| gold I gave you're hoarding gold a little that thing that you can't for some reason gold is always valued I don't it has uses yes but I think Bitcoin it
00:22:28| has its value in being permanent is that once you have a Bitcoin it's yours regardless of whether you lose your house whether the market goes down it's still one goal it's not volatile because
00:22:41| it's not regulated by the market see the value downside is the change exactly what's interesting I thought is that most money and currency is backed by a government it's it's regulated it has
00:22:56| inflation affects it Bitcoin etc does not Bitcoin is not regulated by banks no I lose you're mining they're mining Bitcoin so that is an inflation that's a different kind of inflation that's not
00:23:09| inflation of the economy but that's exactly what the government does is they print more money in thats inflation the economy also has other values - model goods but you don't know that I
00:23:21| would still say that Bitcoin has inflation built into it but not enough apparently because it's going crazy right now all right like that's what they're doing
00:23:29| right now so hold on let's say it started in 2009 I think right so it's officially released and you could buy Bitcoin for like five what you could do five bucks are you serious yeah I'm
00:23:43| serious wow that's wow so you could literally buy a one Bitcoin and have it be worth what's I don't know what the multiple is on five dollars to $20,000 well you're
00:23:57| talking about at at a day is that what's up two thousand now we can to program ten thousand dollars right now okay ten thousand seems to be is hovering price if I were to say so I was myself and
00:24:06| I'll compare it to Lisa Walsh yeah Wall Street the first New York Stock Exchange was made in 1792 so this idea of having stock in something is not new
00:24:18| I said Bitcoin has a hundred and seventy trillion dollars behind it the New York Stock Exchange has 30 trillion dollars damn son I'm just making you could be right I
00:24:35| think I am right yeah as one hundred seventy billion dollars traded daily that's a la yeah but bitcoin has thirteen trillion dollars traded daily that's the ones that did I write that
00:24:49| right did I maybe know how to sell probably this that sounds like value overall 170 billion market cap for Bitcoin and thirteen billion volume I say true meaning remove me
00:25:03| there's too many numbers in this goddamn hey listen I hate baths too let me really rephrase those because I feel horrible for getting the wrong Bitcoin 170 billion daily trade 13
00:25:16| billion New York Stock Exchange 30 trillion daily trade 170 billion heist could Lord so the the New York Stock Exchange's what like ten times our draw five hundred times well that's also
00:25:30| thousand times it's also it's also how many different companies more like that's a lot in that's a lot of different value housings more thousands worth um yeah everyone's gonna be so mad
00:25:46| if you have so hahaha so Bitcoin the other idea behind it I think is with the the blockchain is the idea that everyone could see all the transactions everyone can see what's
00:25:59| going on you can't fake it in quotes I mean who knows but the idea behind this money was that it was not regulated by any government
00:26:11| you couldn't fake it it was super permanent you could have it forever it's not subject to government inflation other inflation's well yeah when war laugh for and you can use that
00:26:22| money to do anything with I mean by the old thing in back in 2010-2011 that you could buy drunks with it you could buy houses with it and people spend because like a Bitcoin on a
00:26:35| pizza and now they're like good thank ya damn that's why they like watch it so what happened to who except there's that Pizza Bitcoin someone somewhere that's a pizza delivery delivery driver who made
00:26:51| a lot of money in the end they have you this does he know that what does he do with it like is it sitting on a USB Drive somewhere in his car
00:26:58| yeah probably if he never actually cash it out he might have it there's actually like Bitcoin hunters that look for like the the USB keys and stuff for the wallets that hold the Bitcoin there are
00:27:10| people like Sir Simon a loser is there any way to find out where they all are listen you know more they all generated it once or does every time you make a transaction it generates a new number
00:27:20| and a new key is they I don't know there's so many memories I want to keys then it's like impossible to get the same number twice okay so it creates them at that time and it's so you yours
00:27:32| my other question there was a big thing about environmental issues were like so how do you mind bitcoins because you can actually use your computer to solve puzzles solve mathematics and earn you
00:27:49| Bitcoin like point zero five Bitcoin a week or something yeah it's hashing so like somehow all the numbers add up to make it equal so you're looking for these like ridiculously long numbers to
00:28:02| equal something at the end so that all balances out and it mathematically solves a block and that's when you're mining you are putting so much energy and work in that eventually you solve a
00:28:16| block and you get that small reward in the end here's my thing who made that puzzle Satoshi no he didn't his machines did right this is cryptographic 101 okay so go ahead break it down that's here's
00:28:33| where I get real conduce so you can mine for crypto currency you can use in video cards which were why they were so expensive because video cards can the most processes per second maja I
00:28:45| think it's more like it's spreading out and solving simple problems over and over and over and over and over and over to get a key is that the idea yeah pretty much so okay if you're
00:28:59| thinking about like making something so it's cryptic say you had the wind hello and then you shifted every letter up one to make it so it didn't look like hello but your key is actually just shift a
00:29:13| letter differently shift it one down now imagine taking hello and then shifting it via five different digits so that you needed the five digit code in order to unlock it five digit code for H five
00:29:26| digit code for e five digit code for this I'm talking about like one letter has one different number one unique number to it and then it would be like H is shifted by this number E is shifted
00:29:38| by that number L the other novell the other number o the other this is called o1 shifts right because we're only ship everything once oh my god and then take something like I think that coin uses
00:29:49| like sha 256 so 256 yeah encryption yes oh for each digit yeah it uses the same length of wallet number with the crypto number so that's like 256 bit times 256 bits which is what they say it's like it
00:30:15| would take eons to solve someone's wallet by doing it via brute force it would take all the computing power on earth and it would still take like hundreds of years so what are these
00:30:26| video cards doing that are short cutting it the video card is used because it's a simple like for every pixel you have it's like calculating very simple water to you want to one or two on or off on
00:30:38| off on off on off it does over and over faster than any other device we have I think it's doing alpha RGB which is red green blue so it's giving you color and then opacity so it's taking those
00:30:52| elements and then combining with crypto so that's like 24 bits or 32 bits it's giving you simplistic reactions one three options two three options off three options one it's still
00:31:04| it's it's a simplistic so you just ruined it but now like the value that they they're calculating for video is the similac it's very similar 32-bit for crypto so it's using the simple like
00:31:21| crunching of numbers for like a single pixel that is happening for your calculations on the blockchain okay does that solve it I believe you you no no no but I mean but but I will take your word
00:31:35| for it and we've gone as far as we can go into it without getting into the actual numbers other processes are designed for more complicated things that are unnecessary for hashing I'm
00:31:44| sorry that way okay okay so wasting time and effort with energy so that's why video cards are so expensive mm-hmm and by mining it you're actually producing transactions and
00:31:56| verifying transactions so you're being paid to verify the transactions on the blockchain so that's the other thing that's weird so these transactions happen on the daily
00:32:05| someone might trade their Bitcoin four times or use it three times and get a new one so someone has to verify this take this long string place it onto the blockchain is that kind of what's
00:32:18| happening and you're verifying it it's the sharing of like two different keys and the keys get combined and then it gets put the blockchain but someone has to share that information so it's you
00:32:29| the miner you're not revealing what your private key is there's a public key that is allowing different section happen but you're you're transcribing the public key potentially are you yes okay that's
00:32:43| very so you're doing work for the blockchain sort and that's where you're getting paid for a little bit yeah let's just sum up is yes okay that's fine I don't I don't know the details that's
00:32:56| why I'm asking but I do know this much so really you can work for Bitcoin in the blockchain and doing the work because there's no one here there's no bank there's no people and
00:33:07| pull correct so it's like self-employed a little bit yeah anyone can download the code and just start doing it it's the people that have been there from the
00:33:16| beginning and earned more Bitcoin because it was more valuable back then or Bitcoin was less the price a bit lower in the beginning but it had more as I was worth making yeah yes yetiz
00:33:29| transaction it's more Bitcoin for what you were doing so now you're kind of wasting your time there is the other question yeah I understand used is like fueling a small country so the energy
00:33:41| used are we creating more co2 because [ __ ] like I've seen articles like that now it's from really no definitely huh no [ __ ] cuz where did you send me above them you sent me a motherboard they had
00:33:53| like 19 slot oh [ __ ] yeah that a real thing that's a real thing it's wild so hello you can buy a motherboard that's ready for bit mining and it holds 19 music Lots yeah does
00:34:07| anyone has anyone ever made a computer that's insane at most you need to sometimes it's like oh this one only has one it's like I'll deal with it this one is too it's like wow that's a bonus this
00:34:19| one has 19 that's insane yeah what if I put like a 1080 T I like to work am I wasting my money sort of it's like overkill right there certain ones that are good at the base
00:34:35| yeah there's some mentoree like you're wasting your money if you have an advanced video card right it's like almost like you need a decent to middling video card there aren't worth
00:34:45| it I've no idea I've heard that if you're using a video card it's a little bit inefficient because they have these other machines called ASIC machines which are specifically designed to do
00:34:54| hashing so they're actually energy efficient to a point where it makes more sense and those machines when Bitcoin was going crazy they could not be bought they were already bought and the people
00:35:07| had them and the people had them were willing to pay way more than anyone else who did not have them so you cannot buy them you could my sister is a man folks were back at supply and demand
00:35:18| interesting yeah you want to talk about go ahead I guess the way we talk about crashes you entire what crashes how about the Bitcoin price up and down on the up and down safe
00:35:32| goings wild because so cryptocurrency is like everything it's like 18 million different startups it's like litecoin flight coin Ethan Corinne XRP III um suck my dick
00:35:44| coin the only u.s. coin butthole lickers coin there's like so many og coins miss dou G they made a joke currency like with the doll oh really within it wait do g GE dog don't do it doji like
00:36:05| the issue Raju where everyone's trying to find where that is I don't know it's a shoe by shoe but I could find anyway um anyway you can literally invest in all these different
00:36:15| bitcoins essentially but they're called cryptocurrency and it's very clear you know a forty million dollars and og coin so that's only 340 million yeah so here's the wild thing some of them get
00:36:30| started up overnight I have a real web address and a real startup everything don't they disappear overnight isn't that like a story that happens sometimes so in that craze there was a
00:36:42| currency that came along and allowed you to invest and it gave you contracts so when you invested it was indelible the contract that was given to you for that particular startup coin and the startup
00:36:54| coins had no legal authority in any state to make sure that they were doing anything productive with that money so they cuz they're not an unregulated and anywhere they can make them sound
00:37:06| fantastic I was actually involved in with somebody who tried to start a coined and failed they didn't garner enough hype and attention and they didn't use enough key
00:37:17| terms in a logical way so they failed off because let me say who was I think it was a I think was called mind coin this is kind of like ridiculous it was on craft that's weird
00:37:29| it would have mind am i ND oh it was supposed to store your knowledge on the blockchain so that you could go back to it and share it with other people I feel like that's
00:37:43| exaggerated hey so yeah there was a huge crash because so many people get so fervent about it and they get everyone that doesn't know that doesn't know anything about it they get on the train
00:38:01| they have a fear of missing out and they just throw money at it they say hey this is going up and up and up we're starting unpinned coin right i'm panicle say let's just say no panda what are the
00:38:14| rules like everyone sends us money we're getting ready we're gonna IPO we're gonna release soon folks couldn't we take the 400 million people sent us and startup money and just walk with it as I
00:38:29| work that would be a moral Nick that would be a terrible thing or is it is it illegal I don't know it's a hit for a you could send it through various channels and the money would come out
00:38:48| clean on the other side that's now I know my father's hated Planet X Oh why's that cuz it sounds like [ __ ] you think because I hate Bitcoin facts well a
00:39:05| Bitcoin go over the price up and down a Bitcoin because I think that's interesting sure so that brat you have it up alright good yeah that was back in 2017
00:39:17| December it was up to 19 I'm sorry just a five bucks ish wait wait wait let me get to you after all yeah I swore to the starting point it's interesting good story it's like so
00:39:29| whoa what it is interesting story so the earliest one they have on here is 2013 which I guess is when the steps I started 100 bucks up in hundred bucks by Bitcoin for 100 bucks it's like I'm
00:39:46| buying in it's like stock I got it yeah and then like hookahs with this for four years later ish four and a half years later $19,500 so the rotella on that would be
00:40:02| what Nick that's a large number so one hundred to nineteen thousand yeah that's like a five percent increase 19% 1,900 I was ninety one hundred ninety times so that's like I cannot even like nineteen
00:40:23| thousand percent or something Oh nineteen as a percentage god damn that sounds ridiculous when he came and say it because it's doesn't make sense it's a logical anyway it spiked and then
00:40:36| it dropped down down to like six thousand mmm almost seven thousand when one was this question when was this crash because this is important three months later you want to reiterate when
00:40:49| didn't okay day before Chinese New Year was it because all over reddit there were people who were like I convinced my wife I wanted to buy into Bitcoin and then they bought it when it was like in
00:41:04| like AP thousand or whatever yeah it's just about the peak and then three weeks months days and months three months later it's worth less than half one third about my third bath RS about a
00:41:20| third so if you put your life savings into it you're convinced your wife you can do it boom you're done to a third of your money money just it was just funny because it does you're trying to you're
00:41:36| trying to state your case that it's no no I'm just saying hold on do as many people make money as lose money in the stock market is that an accurate statement yes for someone to make money
00:41:47| someone has to lose money correct yeah so when you're making money on the AP AP top 50 SMP code sure I think standard and puzan who's losing money
00:42:01| probably the people who don't know what the hell's going on which is majority people apparently who's gaining money who do you think is getting then everyone has money is gaining money and
00:42:12| the people who are analyzing it using computers like quants quants mm-hmm you can break that down for me further do you have any programs you'd like them yeah so I am a quant I have never made
00:42:28| any money with it because it has your homework other and what's drawn do I make you sick Nick you like this Nick huh you did so it's analyzing past trends creating
00:42:43| historical knowledge via computer which then analyzes it and determines the profitability and the odds of the outcome of buying a stock at a certain period of time really no I'm gonna tell
00:43:00| my dad this exact sentence is not gonna like it what the hell would you say to me don't fight I'm gonna make burgers next week are you sure
00:43:10| yes like that listen it's speculation based on probably and based on mmm current trends in the market anything really you say that's me again we all know fistfight so the whole thing is
00:43:26| that there are a lot there's a lot of computing power for determining what's gonna happen and not all of it is probabilistic but there's a majority of it that people are getting screwed out
00:43:38| of money because a computer is trading against them mmm simply you're fighting a computer you like that Nick the computers are wetting weird no they're not winning this is the weird part think
00:43:56| about this as those computers are suddenly going to be competing against other computers once they become readily available and affordable and guess what they're not
00:44:07| gonna be able to predict them the same way they predict people it's true because peach people are emotional mm-hmm but they can't react fast enough for a supercomputer you talk about fast
00:44:22| enough there's a weird thing where if you find out what's happening with the stock before anyone else you can make a lot of money but butta butta butta big insider trading
00:44:31| oh are we going there so you're cheating the computers out of their money which is a fantastic idea that's what you're saying it's a great idea let's screw those computers all over computers and
00:44:42| the other people who don't know anything yeah those people too sorry people so if you were associated with computers I'm sorry if you own a majority of stock which is like more
00:44:53| than 5% of a company then you are dictated by the SEC which is the government that you are required to report what you're about to trade so you're gonna lure this is a whole [ __ ]
00:45:10| you're not a government act get out my donation so you can but you have to wait a certain period correct you're not allowed to I don't know how many wait Martha Stewart she waited two days yeah
00:45:26| yeah yeah hold on this is the craziest part since no one calls me and says hey Nick big fan of panders the Ravens but you've been at midnight and you better have my buddy my buddy from Chicago just
00:45:41| bought a lot of stock let me tell you this it's not gonna work out too good are you guys gonna take a bigot cuz he's a child molester I know excuse me I know yeah you just
00:45:56| made the news is molesting kids and I say hallelujah our sir I don't know who bought my stock I don't care everyone could have my stock he says well this guy's diddling kids all I'm saying it is
00:46:10| it's gonna hit the see you Nick and he clicks hangs up there you go oh [ __ ] I better sell my negative stock exactly what I mean is it illegal to
00:46:23| sell my stock at that point yes he's gonna be arrested why that's insider trading you're not allowed to act on private information so I'm supposed to sit there let let the world know some
00:46:40| diddler bought my Stiles would hold your your finger open the whole place until it comes out on the news what's that what if which news station like CNN first one like first one is that true
00:46:56| yes are you sure yeah break public information so are there new stations that are in on it probably yeah and wait wait and hold on are like low-profile like they make them a month before would
00:47:11| it be worth it to make a new station a month before have them publish four things because I'm sure the news regulation must be like must publish four things and then release the
00:47:24| information to no one because no one follows them but it's like how your master plan is to screw over the computers and people who are not on the know with money that you don't have that
00:47:38| is not investable in a couple of we will never again oh I'm assuming I assume I'm assuming I have money Jesus Christ I wouldn't do any of this [ __ ] I believe take my money
00:47:50| you goddamn robots I hate you yes yes yes yes oh I just imagine people running around and giant bags of money on their backs feel like I want up this with the money sign yeah how many time
00:48:12| I know there's ways to game it another space to play it I know there's smart things to do I don't know what they are flash crashes you know talk about that no no no what - Wow well that's too bad
00:48:29| Nick because we're gonna go into it what's a flash crash a flash crash there one that happened I forgot the stock name but somebody mistyped at a zero and they sold ten or a hundred times more
00:48:44| stock than they intended and they owned a lot of it so they caused the price of the stock to drop when the stock of the when the price of the stock drops over like 30% then the exchange takes notice
00:48:56| and pauses trades they'll actually reverse trades and they correct what happened ah they'll fix that over 30 yeah I think we're selling balloons in value or DoD values seriously what if
00:49:09| seriously the president of the company is a kid diddler and it drops then I guess that's a staff I'd change so you're not get your money back I don't I don't know Nick are you why would you
00:49:28| invest in a kid diddler I didn't I didn't know he was it was called unban ders it was um pan or Dan and I thought I put all one money in so the same thing happened but black Monday I think you
00:49:43| think all black Tuesday October in 1929 the [ __ ] you talkin about percentage change the market lost 23 4% of its value in two days that's a rough two days it's like a twenty folks so this is
00:50:06| it I love the Great Gatsby because it focuses on this era where people are so self indulgent and exuberant and when it pops the richest of the rich have been living so highly and on money that is
00:50:19| essentially not abrogated yeah it's in the name and then they they crashes and everything falls apart the Roaring Twenties ends hmm wait that one does the
00:50:33| Great Depression yeah that's the beginning of the Great Depression because so many people had leveraged themselves into the stock market because it was so fruitful that when it got
00:50:42| destroyed they had nothing the richest people went to dust so what I said earlier strong shoes well your money comes from somewhere right comes from corporations which are valued on the
00:50:58| stock market I come from somewhere whether it's people being screwed out of money or people being flam flus old or bamboos old or or it could be an honest business that just makes money in
00:51:11| general like no way I'd be providing a shirt or the house you're living in are the drums behind you are those pillows or that crappy Cheeta decorative throw you have on that ottoman right there
00:51:26| that's the ottoman itself oh I'm sorry don't I am very sorry so what do you think about noises right now you gotta keep going there are among my which weren't has been very proud of show we
00:51:47| got close because no finish up does make you piss your psyche on camera it's not even piss it's my head is like exploding because I don't agree with these you know regulations like good money in
00:52:04| soccer you know I cool so I don't gonna talk about me let me talk about me got money I was able to save money throughout my 20s and I have a decent amount of money now I have lost on
00:52:17| certain trades tens of thousands of dollars maybe god damn it that's not even a number I've even seen ok yeah there's certain ones that I feel like there are stocks out there that are
00:52:32| intended to take your money as their probabilities my fricker yes so hold on there are socks literally out there that get created to suck you in take your money and disappear and
00:52:45| that's how they make their money correct yeah I think so that's how I feel about every goddamn stock in the world buddy okay but what about like Exxon which is like the
00:52:54| largest company the most no I think Exxon is gonna disappear tomorrow if I put money in it yeah that's how I feel bro could you tell me on your children's lives that Exxon stock is gonna be fine
00:53:10| tomorrow I would probably buy consumer goods stock such as like prime no no no no no no I would die no part the Cameron Bure perfect a recession a profit nobody buy whatever I buy it's probably gonna
00:53:26| go out on boys during a recession no I worked in the consumer goods and cleaning materials and Procter & Gamble's pretty good company they buy a lot of good stuff I mean I will not
00:53:38| disagree with them hmm you just got arrested tell I don't know honey thanks dad two or three days so buy this by the time this episode airs I will maybe own some by the time this episode
00:53:52| airs you will have bought it and sold it but I'll mm-hmm so have you ever looked at it stock chart with candles no no what do I look like Richie Rich have you ever heard the really wealthy people
00:54:12| drive by in their really wealthy cars and say stock market go Oh every day the other day a guy drove by rolled down his [ __ ] window and said you have any Grey Poupon quick clean my windows and I
00:54:30| said Grey Poupon this house paper buddy paid off Greg the ones like five bucks at the grocery store why would you have to be rich death my blood so the other kind of must reason what's the kind of
00:54:44| mustard no yellow no yellow trenches and French as that's called for just but think of this alright so a jar French is cost you like 399 or something Grey Poupon cost you five tiny knife or
00:54:59| a smaller a mammal huh it's not that much more than you make the rich joke that's true it's also a great company invest in stop they make French energy do that yes they
00:55:20| do wait McCormick that's French aha interesting I am well yeah actually would yeah they've been around freely thousand years I'd put playing family
00:55:40| you know usually folks had in 2009 need to have four times if I did it in 1928 let's say let's say let's go back to the beginning say I put money in 1928 because I knew
00:55:57| their family is gonna be good didn't I don't know that I see I don't know if it existed back then did it it didn't but I'm saying if I offered them money in everyone was following along until then
00:56:19| was founded actually 30 years ago interesting we it was founded 1928 I'm just saying they were around it's like I need a time machine to go suck someone's dick it's like hey what are you taking
00:56:39| on you that's insider trading I think you need to stop the sec guy goes with Dan's make sure you do not it cuz I guess that big is that he's I'm not swallowing I didn't swallow
00:56:55| oh wow so if you actually ride all day you'd have 162 times whatever you put in there so god damn I be rich something that you might be able to retire on that dick what I'm saying gang is that we're
00:57:19| we're talking about fake money I literally hate fake I literally can't stand it I can't uh dander dan he loves fake money hmm it's his favorite thing wasn't make a
00:57:31| machine that could make you think that he mined money I can think it it exists we're talking about people who mined money using video cards I don't give a [ __ ] folks do you give a [ __ ] I tried
00:57:47| this I didn't make anything I didn't solve a block mm-hmm maybe your video cards weren't good enough so I'm sighs me I would agree so what am i he realize right now really you know
00:58:03| officially yeah we are it broke through the highest level it's ever been some would say that we're at a peak and it might fall off that peak price to earnings ratios Cape Shiller how do you
00:58:22| know it's a word candlestick candlestick no Cape Shiller is cyclic sickly cyclically adjusted price to earnings ratio holy [ __ ] so what you're talking about good for you the value of a stock
00:58:38| which is its actual price is the highest it's ever been people are paying so much for stocks right now that it's just absurd [Laughter]
00:58:53| huh holy crap so you shouldn't invest right now Nick save your money or the money you don't have because you shouldn't invest right now it's a terrible time hmm but I will say that if
00:59:06| you had invested equally in the past along the whole span of history you would make out pretty well but right now probably not you're out can you figure out what um I would have made right now
00:59:22| if I invested in ancient China gold I don't know what you mean by that ancient Chinese gold hmm the value of gold from the beginning of time is what you're asking for
00:59:35| yeah sure this sir machine that doesn't that's great the second day I guess if you were to invest in gold to the first time at which trade it was in 1985 in the whole arc exchange
00:59:54| I hope not that here I'm sure don't well this is the first one that shows up but it's done I don't think shows up the show was on square I'm starting to sleep fish what it swims up the shore from
01:00:12| there shoal because it's evolving buddy it's about a grow into something big like a you here's a real quick point I um let's say ahead billion dollars - yeah put it in there why would you put
01:00:28| it in there I just felt so foot powder yeah folks Jesus Christ I can't do any more this technical stuff I can't do theoretical money I can't do stocks I can't do any of that [ __ ] I hate Dan
01:00:51| I hate theoretical stocks I hate all the most fun I've ever had I love saying you hate something I just honestly like you like I get it yeah because honestly if I can't lift a
01:01:06| hammer and hit it if I can't pick it up and put it into a truck if I can't physically touch it for it I'm not real it's not for tough it's not for real Williams what I'm saying folks is
01:01:24| investigate it in your own times if this pio ever goes public i'm panderers we will actually let anyone who's watched this episode or previous force tips we call that the iso IPO I
01:01:41| asked P IPs oh no I want to keep this going because he's gonna just fall asleep at the corner no I'm afraid to goddamn end the episode I was like had anyone to recapture let's do a recap I
01:02:04| gotta get in now cuz it's gonna go to the moon I'm bearish this we get um stock martyrs - Parrish accident yeah crypto start marketing only or as far as I can go 3p mmm like only gonna put
01:02:19| there hmm Oh like holding positions it seeks him alpha this one bought the volatility candlesticks all those patterns [ __ ] hope hyped Hodel growth stock buybacks
01:02:32| we didn't cover that oh we didn't cover that let's see why it's so high right now another episode compound interest high-frequency trading computers high-frequency coax cables oh
01:02:46| my god and that's it Wow hasn't be covered at all this can come in our episode was great it covered everything you guys wanted to talk about the stock exchange what really happens like the
01:03:05| turds and nitty gritty if you guys have any other questions like please feel free to reach out to us we will absolutely get back to you we will even give you tips and tricks on
01:03:19| how to make your money back Nick will even dig rats at 40 I'm fully into his mouth but I like you in a respectful manner people all of you like yeah we like you a lot respectfully you
01:03:38| need to brush off your top let's on that to our friend of every guest oh my god thank you yes
00:00:19| we're gonna ride it all the way to the top I'll ride that bull until it multiplies so you're gonna get a 10 20x return on this investment you're gonna ride these stocks until they go to the
00:00:30| moon Hodel cuz this is gonna be a wild ride so I'm Dan Oh Nick folks for old friends dissecting one topic at a time people technology meeting you've got it all
00:00:47| covered discussion here deep dive indoors perspective taboo jeez they're all on the chopping block baby we don't pander to popular opinion Mike you can get a little bit dirty
00:01:02| morning this podcast may contain mature language and sexual content and is for entertainment purposes only so join us have a good time okay let that resonate in your chest folks hey feel it hey hey
00:01:36| oh hey so we're gonna talk about hey Doc I'm Dan Nick and thanks for joining us yeah why can't believe they're good they're still here yes they've watched us for over a hundred episodes if this
00:01:53| is the surfer series second series is pure episode today Nick is also drinking wildly tonight to cover his depression he's masking it he's hard we don't call that depression we actually call it bull
00:02:10| he's uh I'm bearish on Nick's attitude right now barish I'm bear I'm in bear mode right now big bear big so it's weird because there's different people in my community
00:02:22| some are hairier than others some are the bottom some are the top some are powerful some are the bear some are hairless they're Twinkies we call them twinks you're gonna fly everything
00:02:34| away beginning you need to I need you to be a better joke joke couldn't handle being called the bear you are very funny I am someone's that but I trim my body air yeah okay stock and growth stocks
00:02:54| folks stocks ding ding ding ding ding mad money we're talking Kramer here have you come to us for advice we cannot give it to we hold positions in certain of certain holdings that may
00:03:07| or may not be will swayed by the outcome of this podcast I don't know if it's gonna be worthwhile I might be negative actually I should sell right now I should sell it's going down is so very
00:03:18| pail no bye bye now bye bye bye yeah snow um when he's getting at folks is he's got money in the stock I don't show anything he says doc don't trust a word the man says trust your guy over here
00:03:35| Nick all your base are belong to us stop I was talking to someone about that the other day but mm-hmm anyway so what what what is the stock was when's it become a stock was it like
00:03:49| I can buy Google like a my Apple no one knows what that means do they what's the stock what is your stock well let's go to Wikipedia favorite supplier of information would
00:04:01| you just call this podcast Wikipedia expanded Excel no it's so if you have a company and you expand really fast you put your company on the public market so the public market allows other people to
00:04:13| invest in your company and it's typically through an IPO anyone its I'm serious no idea initially its brokers who value your company at a certain amount it's a valuation and you get a
00:04:27| group of them to buy into your company and then they use their shares to buy it to lower people which are usually accredited investors which is their certain income
00:04:36| requirements or they're used usually stipulations based on how many how close in with the broker they are you need to meet your request snick II I didn't know that there are
00:04:48| rules of that like you can't be BFF with the broker you can be BFF of the broker that's the thing is okay if you are like a preferred customer you get a shot at the IPO which is initial public offering
00:05:00| public that's so funny I actually knew what an IPO was but I didn't know what it meant so it's like the first shot at the stock is that what that is yeah pretty much
00:05:10| that's not the main route that most stocks take to go public so they sell a portion of their company for a certain amount for it with its own hold on let's do it with the on panners okay we're
00:05:21| value campaigners is what do we value put like half a billion half a billion mean it's not do a nice even number so like a hundred billion no hit a hundred million ponder okay fine I'll be fair a
00:05:34| hundred million this is a startup here and I own so we're kind of it 70 I'm giving you over half okay this is a barter system yeah the my lawyer has he's nodding he's saying yes he's
00:05:50| naughty this is okay acceptable yeah all right fair can you worm you won't list oh I can't do math like that already percent need a calculator anyway no no what I'm saying is so we
00:06:06| decide to go public the same thing and who do I talk to Hey IRS we're going public is there a company we go to is this exchange investors like you would go down to you
00:06:16| you make it so that people knew so the brokers now grab people with the money that's public knowledge they call it a roadshow so like you go on this road show and
00:06:25| then everyone company show for the other hand there is a show I'm gonna wear that that pair of underwear you got me hahaha that's how you gonna make your money we're gonna garner some attention tell
00:06:38| ya that we got attention on Wall Street so you got a road show and every one of money every investor every broker will look at what you trying to sell and then they'll buy a certain amount and you can
00:06:47| slightly shake myself at them and say hey what do you think we're worth trial it probably not a hundred million probably not yeah so they so then mm-hmm they will invest
00:07:02| in your company give them a certain percentage of stock and on a certain day your stock goes public everyone else starts trading it and what does that mean
00:07:09| sure so the price of a stock is dictated by what supply and demand yeah pretty that it yeah you have a noble price in a bid price and they meet in the middle and that's the price that I see cool
00:07:23| that makes sense it actually does make sense you know how much people want it where's this how much you're offering it for hey you're you're you're pricing it way too much so you got to bring it down
00:07:34| or hey this isn't great set it says so much demand people you want people I want everyone there's so much hype involved they view their their Quarterly's are off the charts they got
00:07:46| so much volatility it's perfect time to jump in right now I'm telling you Oh Gossett baby they're gonna miss this train it's gonna ride you a way to sugar town so so who's making the money here
00:08:00| the investors and brokers early getting guys who are buying and selling if they're selling high or slow yeah if it's if it's an IPO and it's in a period of prosperity there are certain IPOs
00:08:13| that are like if you buy in right it's a lot at the time that it is like right the day before which is like the brokers and cost of going in a stock you can sure like 10x your money in a short
00:08:25| amount of time like it's wild within a few months mmm it has happened so it's crazy so then what happened so um John Q public I'm sitting at home my favorite podcast is the unmanned doors I friggin
00:08:40| watch it every week it's wicked good that's not a part I guess that's not a Chicago that's my kid good wicked let's say he buys 10 shares let's say he has enough
00:08:50| to have 1% of the company by the way the shares are broken up by houses random at the shittiest episodes first 10 shitty apples in a real scenario if someone buys stock and something like our
00:09:07| company what would they be getting just say in our like what are they buying into actually they're buying in our revenue so nurture future revenue they're expecting us to continue
00:09:18| podcasting they're expecting as I grow the key there any money there they own part of the content technically and they own the brand if we were to merchandize anything or gain advertising bucks that
00:09:31| would be do they have any say and anything we do it depends how much they own so if so if it's under 50 it's like yeah well you could have if it was like I put my shares up for public use then
00:09:45| it could be like 30 30 40 and they could have a controlling interest because they'd have a luxury bath usually it was the highest amount controlling amount correct oh yeah but usually it's like
00:09:56| I'll just say to people company versus other people because you would probably side with me hopefully because I'm we win 6040 technically but if they had 51% or 50/50 then they can dictate what
00:10:09| happens they could fire us and replace us with whoever they wanted you people at home you in Chicago god bless you oh my god so wait can you force your way to buy something and
00:10:24| destroy it uh-huh like if you're a billionaire and you see a stock and it's you really hate the UMP Anders you could buy like 60% of their stock and hope that this me and you who were priority
00:10:38| shareholders would sell I mean there's a price for everything to take off so then he would yeah so he takes over and then he fires us because he hates us yeah I mean does that preclude us from
00:10:48| starting another podcast or how's that work I'm sorry there's a pool you know I don't know what that would mean you would probably give his turn to say you
00:10:55| two can't be together for a podcast for at least you know two years whatever he would stipulations on buying us out and everything you know can they kick us to
00:11:02| the curb and then nobody do with a brand just sink it because he hates us maybe he sees something in it that we're not doing no no I think he just did it because he needs us so you're gonna play
00:11:13| it off better yeah yeah better for us worship I just hope he doesn't ruin the podcast and give us a billion dollars each okay terrible so why haven't you invested oh I don't have a disposable
00:11:27| income if you did would you invite net I would think about it it's one of those things where I'm COSO I am cautious but it's not just caution it's I don't like fake money is that a thing can I talk
00:11:42| about something you can't hold they can't touch in your hands we talked about this and they didn't even see this episode that yeah that's correct so my father always hated my science facts I
00:11:52| was always into science hey dad did you know Venus can get to 500 degrees Celsius at night and negative 200 in the morning or whenever and he'll be like who told you that and I'd be like it was
00:12:03| in this book it got published I might be like how do they know and I always feel like it's in the book dad you have to respect the book anyway my favorite subject is science
00:12:16| I love outlandish facts I love crazy stuff I like to habit always just look at me whenever I told me say GU thing how do you know because my dad's a very you got to feel it
00:12:26| you got to be there you got to put your hands on it I'm gonna make first night like I can touch the burgers we're gonna make burgers like you mean we're gonna cook it
00:12:34| don't touch my burger he makes really bur my dad's a great cook actually I give him full credit that's one of the secret talents that didn't rub off on me getting better at it but that's my thing
00:12:47| like to this day I think I still don't believe in money I can't touch investments because you think someone's gonna take it you know look back at your account and I'll be gone I think so a
00:12:58| little bit and and another thing like I can't there's no one I can talk to there's no it's not like I'm handing my money to Jim Jimmy Fox Oh 107 and baling hay Jimmy Fox Oh house I think doing
00:13:12| he's like it's doing goodnight the other day we made 1.1% I'm just telling you there's no one to tell me that I'm just looking at numbers on a website or a computer screen and hoping
00:13:24| that this money wherever the flying hell it is it's making me more money and it's gonna come back to me and as as an individual who doesn't make a lot of money doesn't have a lot of breaks
00:13:36| doesn't have disposable income I feel like everything's out to get me and usually anytime I invest in something that gets screwed so now does that make sense I understand your fear and that's
00:13:54| it is what it is I also I don't have money to throw around experiment with so if I did maybe I'd go off sometimes it works sometimes it doesn't this makes sense so see I don't say you
00:14:05| had 10 grand to put in and okay 1 grand to put in just let's make it 1 let's make it 1 grand this is a ridiculous number anyway but ok and you're 30 ish now I'll just say 30 say
00:14:22| you held it until you're 40 now that's it stop yeah cuz they say SP 500 is an index of the top stocks in I think the United States think they're American ok it might be right now 500 top 500 so say
00:14:40| your lesson that the historical return is 7% so that means in 10 years and is that hold on it's at the top 500 stocks you kind of divvy up your money into them so now you don't there it's called
00:14:52| it's a fund index fund so an index fund will take the top stocks at the time and distribute your money for you because they hold positions yeah based on how the market cap which is the total value
00:15:04| of the company is at that time so they'll divvy it up based on that and then it will be auto shuffled around based on what stocks are are coming up for dropping out this is the [ __ ] that
00:15:16| bothers me basically one auto shuffle like I'm like a little bit like this don't trust it I really don't not fearful I know if someone gets screwed
00:15:28| it's a guy with the lowest amount of money cuz no one cares about them I can't sue like I'm I'm literally the guy I'm him I'm the one who if it doesn't go right and they have to cut
00:15:41| someone it's me see right I'll say it right now there's I'm not saying they will cut me I'm saying if something goes wrong I've been involved in stocks where something went wrong and there are clash
00:15:51| acting class action lawsuits because they didn't treat stock of the same class the same okay so if there's something that goes wrong someone with more money will sue on your behalf and
00:16:02| then the class-action lawsuit will come back I've gotten like seven dollars out of clash of the class-action lawsuits and it actually was a benefit of one that had to do with school loans I think
00:16:11| they're giving out phone numbers or something and don't even know how is in that collective or that I got harassed by phone calls but I took the 17 dollars I got 17 on that one berth to the bank
00:16:23| look for me you can sue me back also look getting it I'll cover class of stock there's different classes and you can determine who has voting rights so part of that like majority owner depends
00:16:35| on your class of stock you can create stock that doesn't have any voting rights which means they will never take ownership of your company so it's just like revenue stock or something is I
00:16:44| Class A B and C in stock that is just for dividends as well as gains which is the increase nice jeans don't you want these gains baby mm-hmm so if you held a thousand dollars
00:17:02| in an S&P 500 index fund for ten years you would double your money so that means if and this is inflation adjusted if you were thirty and put it in there by 40 you'd have two thousand by 50
00:17:15| you'd have four thousand and by sixty eight of eight thousand dollars no exciting a long long wait to add a thousand dollars but this is compounding exciting that is compounded yeah because
00:17:29| you're saying it cool compounds in Iran itself if you high a hundred grand you'd have eight hundred grande by the end of that round that's pretty good yeah that's what people Bank
00:17:41| on it's the financially independent retire early movement that's people in their 20s putting in as much money as they can because after that it matters that much less which is a waste arable
00:17:52| way to put it but if you're in your 40s in retiring or trying to retire early and you don't any savings the compounding interest doesn't help you as much as if it was in your 20s it's a
00:18:04| time thing yes hmm value growth with some virtue interesting I don't like it so there are pieces that there like people that are alpha alpha traders they try to like
00:18:21| seduce you into buying into a stock they kind of suggest that oh it's it's the right time it's got a MACD it's got an EMA you're gonna do all these sort of crazies like the throwing acronyms bell
00:18:32| oh yeah look at that it's gonna it's gonna bounce right up it's gonna hit off the bottom and you just gonna pop it's gonna pop they throw out these terms yeah I'm like Candlestick indicators
00:18:42| it's got it I know G is three white soldiers is you Black Crowes black crowes Black Crowes you just wanted buy buy buy just get in right now those people pissed me the [ __ ] off I hate
00:18:51| those people so hold on also for the for the listener you want to buy something when the stock is shitty you want to buy with this cheaper growth ahead of you and there's hype growth and hype sure so
00:19:07| the idea is buy it when it's worth less than it will be worth later I have that's a terrible way of saying it by below and sell it when it's highs what they say yeah
00:19:20| or if you have cryptocurrency just hold on hold on oh damn we're getting into [ __ ] oh crap oh you go cryptocurrency of course I'll go cryptocurrency so we get rollin way to buy mm-hmm only way to
00:19:35| buy what only one of my black pie on the black market don't you want some pie yeah Paul's been illegal for 10 years MA imagine pie was illegal in Britain and then you had to buy it on
00:19:51| the black market you have to use cryptocurrency so what is cryptocurrency ultimately it's supposed to be a form of currency it's essentially indelible so you have this really long number that
00:20:05| raise your wallet and you have this really long number which is the key to that wallet and it's pretty much unbreakable and then every transaction you do gets folded into a giant
00:20:15| blockchain that means that it's on a ledger it's saved and that is indelible so you and everyone can see the block pain correct yes they can mine through it and look at it and it's so here's my
00:20:30| question even put it in Dumber terms okay it's fake money yep it was given a value okay we'll say each cryptocurrency is worth a thousand dollars value is different than price which I felt was
00:20:46| wild when I was researching this so value is the inherent worth of something the price is what it is being traded at correct so it's sold at a price sorry let's say let's say Bitcoin that's the
00:21:01| big one right yep is that's a number one right a bit bitcoins number one that one of the earliest two it was I think is a the original it was started by was this name Nick Satoshi Nakamoto yeah this is
00:21:15| a march on Campbell 170 trillion dollars holy [ __ ] that sounds like a lot doesn't it so what he did or he or they because no one knows who this is because it could it was anonymous technically they
00:21:30| created some computer code that essentially did all the mining the generation and the ledger and the checking out of transferring of money pretty much made it so that it didn't
00:21:42| need human people to be involved in the transactions or the treatment everything's gonna be regulated but what it is is this is you buy into this you get an X amount of these tokens will
00:21:54| call them coins Bitcoin as it said it's you buy it at X amount of price the more people that buy in the more people that start using it more transactions or the more companies that
00:22:07| start saying okay we'll accept Bitcoin the more its value increases and so it's worth more on the market it's a message the juice is supposed to be the value but I think it's really being used as
00:22:18| gold I gave you're hoarding gold a little that thing that you can't for some reason gold is always valued I don't it has uses yes but I think Bitcoin it
00:22:28| has its value in being permanent is that once you have a Bitcoin it's yours regardless of whether you lose your house whether the market goes down it's still one goal it's not volatile because
00:22:41| it's not regulated by the market see the value downside is the change exactly what's interesting I thought is that most money and currency is backed by a government it's it's regulated it has
00:22:56| inflation affects it Bitcoin etc does not Bitcoin is not regulated by banks no I lose you're mining they're mining Bitcoin so that is an inflation that's a different kind of inflation that's not
00:23:09| inflation of the economy but that's exactly what the government does is they print more money in thats inflation the economy also has other values - model goods but you don't know that I
00:23:21| would still say that Bitcoin has inflation built into it but not enough apparently because it's going crazy right now all right like that's what they're doing
00:23:29| right now so hold on let's say it started in 2009 I think right so it's officially released and you could buy Bitcoin for like five what you could do five bucks are you serious yeah I'm
00:23:43| serious wow that's wow so you could literally buy a one Bitcoin and have it be worth what's I don't know what the multiple is on five dollars to $20,000 well you're
00:23:57| talking about at at a day is that what's up two thousand now we can to program ten thousand dollars right now okay ten thousand seems to be is hovering price if I were to say so I was myself and
00:24:06| I'll compare it to Lisa Walsh yeah Wall Street the first New York Stock Exchange was made in 1792 so this idea of having stock in something is not new
00:24:18| I said Bitcoin has a hundred and seventy trillion dollars behind it the New York Stock Exchange has 30 trillion dollars damn son I'm just making you could be right I
00:24:35| think I am right yeah as one hundred seventy billion dollars traded daily that's a la yeah but bitcoin has thirteen trillion dollars traded daily that's the ones that did I write that
00:24:49| right did I maybe know how to sell probably this that sounds like value overall 170 billion market cap for Bitcoin and thirteen billion volume I say true meaning remove me
00:25:03| there's too many numbers in this goddamn hey listen I hate baths too let me really rephrase those because I feel horrible for getting the wrong Bitcoin 170 billion daily trade 13
00:25:16| billion New York Stock Exchange 30 trillion daily trade 170 billion heist could Lord so the the New York Stock Exchange's what like ten times our draw five hundred times well that's also
00:25:30| thousand times it's also it's also how many different companies more like that's a lot in that's a lot of different value housings more thousands worth um yeah everyone's gonna be so mad
00:25:46| if you have so hahaha so Bitcoin the other idea behind it I think is with the the blockchain is the idea that everyone could see all the transactions everyone can see what's
00:25:59| going on you can't fake it in quotes I mean who knows but the idea behind this money was that it was not regulated by any government
00:26:11| you couldn't fake it it was super permanent you could have it forever it's not subject to government inflation other inflation's well yeah when war laugh for and you can use that
00:26:22| money to do anything with I mean by the old thing in back in 2010-2011 that you could buy drunks with it you could buy houses with it and people spend because like a Bitcoin on a
00:26:35| pizza and now they're like good thank ya damn that's why they like watch it so what happened to who except there's that Pizza Bitcoin someone somewhere that's a pizza delivery delivery driver who made
00:26:51| a lot of money in the end they have you this does he know that what does he do with it like is it sitting on a USB Drive somewhere in his car
00:26:58| yeah probably if he never actually cash it out he might have it there's actually like Bitcoin hunters that look for like the the USB keys and stuff for the wallets that hold the Bitcoin there are
00:27:10| people like Sir Simon a loser is there any way to find out where they all are listen you know more they all generated it once or does every time you make a transaction it generates a new number
00:27:20| and a new key is they I don't know there's so many memories I want to keys then it's like impossible to get the same number twice okay so it creates them at that time and it's so you yours
00:27:32| my other question there was a big thing about environmental issues were like so how do you mind bitcoins because you can actually use your computer to solve puzzles solve mathematics and earn you
00:27:49| Bitcoin like point zero five Bitcoin a week or something yeah it's hashing so like somehow all the numbers add up to make it equal so you're looking for these like ridiculously long numbers to
00:28:02| equal something at the end so that all balances out and it mathematically solves a block and that's when you're mining you are putting so much energy and work in that eventually you solve a
00:28:16| block and you get that small reward in the end here's my thing who made that puzzle Satoshi no he didn't his machines did right this is cryptographic 101 okay so go ahead break it down that's here's
00:28:33| where I get real conduce so you can mine for crypto currency you can use in video cards which were why they were so expensive because video cards can the most processes per second maja I
00:28:45| think it's more like it's spreading out and solving simple problems over and over and over and over and over and over to get a key is that the idea yeah pretty much so okay if you're
00:28:59| thinking about like making something so it's cryptic say you had the wind hello and then you shifted every letter up one to make it so it didn't look like hello but your key is actually just shift a
00:29:13| letter differently shift it one down now imagine taking hello and then shifting it via five different digits so that you needed the five digit code in order to unlock it five digit code for H five
00:29:26| digit code for e five digit code for this I'm talking about like one letter has one different number one unique number to it and then it would be like H is shifted by this number E is shifted
00:29:38| by that number L the other novell the other number o the other this is called o1 shifts right because we're only ship everything once oh my god and then take something like I think that coin uses
00:29:49| like sha 256 so 256 yeah encryption yes oh for each digit yeah it uses the same length of wallet number with the crypto number so that's like 256 bit times 256 bits which is what they say it's like it
00:30:15| would take eons to solve someone's wallet by doing it via brute force it would take all the computing power on earth and it would still take like hundreds of years so what are these
00:30:26| video cards doing that are short cutting it the video card is used because it's a simple like for every pixel you have it's like calculating very simple water to you want to one or two on or off on
00:30:38| off on off on off it does over and over faster than any other device we have I think it's doing alpha RGB which is red green blue so it's giving you color and then opacity so it's taking those
00:30:52| elements and then combining with crypto so that's like 24 bits or 32 bits it's giving you simplistic reactions one three options two three options off three options one it's still
00:31:04| it's it's a simplistic so you just ruined it but now like the value that they they're calculating for video is the similac it's very similar 32-bit for crypto so it's using the simple like
00:31:21| crunching of numbers for like a single pixel that is happening for your calculations on the blockchain okay does that solve it I believe you you no no no but I mean but but I will take your word
00:31:35| for it and we've gone as far as we can go into it without getting into the actual numbers other processes are designed for more complicated things that are unnecessary for hashing I'm
00:31:44| sorry that way okay okay so wasting time and effort with energy so that's why video cards are so expensive mm-hmm and by mining it you're actually producing transactions and
00:31:56| verifying transactions so you're being paid to verify the transactions on the blockchain so that's the other thing that's weird so these transactions happen on the daily
00:32:05| someone might trade their Bitcoin four times or use it three times and get a new one so someone has to verify this take this long string place it onto the blockchain is that kind of what's
00:32:18| happening and you're verifying it it's the sharing of like two different keys and the keys get combined and then it gets put the blockchain but someone has to share that information so it's you
00:32:29| the miner you're not revealing what your private key is there's a public key that is allowing different section happen but you're you're transcribing the public key potentially are you yes okay that's
00:32:43| very so you're doing work for the blockchain sort and that's where you're getting paid for a little bit yeah let's just sum up is yes okay that's fine I don't I don't know the details that's
00:32:56| why I'm asking but I do know this much so really you can work for Bitcoin in the blockchain and doing the work because there's no one here there's no bank there's no people and
00:33:07| pull correct so it's like self-employed a little bit yeah anyone can download the code and just start doing it it's the people that have been there from the
00:33:16| beginning and earned more Bitcoin because it was more valuable back then or Bitcoin was less the price a bit lower in the beginning but it had more as I was worth making yeah yes yetiz
00:33:29| transaction it's more Bitcoin for what you were doing so now you're kind of wasting your time there is the other question yeah I understand used is like fueling a small country so the energy
00:33:41| used are we creating more co2 because [ __ ] like I've seen articles like that now it's from really no definitely huh no [ __ ] cuz where did you send me above them you sent me a motherboard they had
00:33:53| like 19 slot oh [ __ ] yeah that a real thing that's a real thing it's wild so hello you can buy a motherboard that's ready for bit mining and it holds 19 music Lots yeah does
00:34:07| anyone has anyone ever made a computer that's insane at most you need to sometimes it's like oh this one only has one it's like I'll deal with it this one is too it's like wow that's a bonus this
00:34:19| one has 19 that's insane yeah what if I put like a 1080 T I like to work am I wasting my money sort of it's like overkill right there certain ones that are good at the base
00:34:35| yeah there's some mentoree like you're wasting your money if you have an advanced video card right it's like almost like you need a decent to middling video card there aren't worth
00:34:45| it I've no idea I've heard that if you're using a video card it's a little bit inefficient because they have these other machines called ASIC machines which are specifically designed to do
00:34:54| hashing so they're actually energy efficient to a point where it makes more sense and those machines when Bitcoin was going crazy they could not be bought they were already bought and the people
00:35:07| had them and the people had them were willing to pay way more than anyone else who did not have them so you cannot buy them you could my sister is a man folks were back at supply and demand
00:35:18| interesting yeah you want to talk about go ahead I guess the way we talk about crashes you entire what crashes how about the Bitcoin price up and down on the up and down safe
00:35:32| goings wild because so cryptocurrency is like everything it's like 18 million different startups it's like litecoin flight coin Ethan Corinne XRP III um suck my dick
00:35:44| coin the only u.s. coin butthole lickers coin there's like so many og coins miss dou G they made a joke currency like with the doll oh really within it wait do g GE dog don't do it doji like
00:36:05| the issue Raju where everyone's trying to find where that is I don't know it's a shoe by shoe but I could find anyway um anyway you can literally invest in all these different
00:36:15| bitcoins essentially but they're called cryptocurrency and it's very clear you know a forty million dollars and og coin so that's only 340 million yeah so here's the wild thing some of them get
00:36:30| started up overnight I have a real web address and a real startup everything don't they disappear overnight isn't that like a story that happens sometimes so in that craze there was a
00:36:42| currency that came along and allowed you to invest and it gave you contracts so when you invested it was indelible the contract that was given to you for that particular startup coin and the startup
00:36:54| coins had no legal authority in any state to make sure that they were doing anything productive with that money so they cuz they're not an unregulated and anywhere they can make them sound
00:37:06| fantastic I was actually involved in with somebody who tried to start a coined and failed they didn't garner enough hype and attention and they didn't use enough key
00:37:17| terms in a logical way so they failed off because let me say who was I think it was a I think was called mind coin this is kind of like ridiculous it was on craft that's weird
00:37:29| it would have mind am i ND oh it was supposed to store your knowledge on the blockchain so that you could go back to it and share it with other people I feel like that's
00:37:43| exaggerated hey so yeah there was a huge crash because so many people get so fervent about it and they get everyone that doesn't know that doesn't know anything about it they get on the train
00:38:01| they have a fear of missing out and they just throw money at it they say hey this is going up and up and up we're starting unpinned coin right i'm panicle say let's just say no panda what are the
00:38:14| rules like everyone sends us money we're getting ready we're gonna IPO we're gonna release soon folks couldn't we take the 400 million people sent us and startup money and just walk with it as I
00:38:29| work that would be a moral Nick that would be a terrible thing or is it is it illegal I don't know it's a hit for a you could send it through various channels and the money would come out
00:38:48| clean on the other side that's now I know my father's hated Planet X Oh why's that cuz it sounds like [ __ ] you think because I hate Bitcoin facts well a
00:39:05| Bitcoin go over the price up and down a Bitcoin because I think that's interesting sure so that brat you have it up alright good yeah that was back in 2017
00:39:17| December it was up to 19 I'm sorry just a five bucks ish wait wait wait let me get to you after all yeah I swore to the starting point it's interesting good story it's like so
00:39:29| whoa what it is interesting story so the earliest one they have on here is 2013 which I guess is when the steps I started 100 bucks up in hundred bucks by Bitcoin for 100 bucks it's like I'm
00:39:46| buying in it's like stock I got it yeah and then like hookahs with this for four years later ish four and a half years later $19,500 so the rotella on that would be
00:40:02| what Nick that's a large number so one hundred to nineteen thousand yeah that's like a five percent increase 19% 1,900 I was ninety one hundred ninety times so that's like I cannot even like nineteen
00:40:23| thousand percent or something Oh nineteen as a percentage god damn that sounds ridiculous when he came and say it because it's doesn't make sense it's a logical anyway it spiked and then
00:40:36| it dropped down down to like six thousand mmm almost seven thousand when one was this question when was this crash because this is important three months later you want to reiterate when
00:40:49| didn't okay day before Chinese New Year was it because all over reddit there were people who were like I convinced my wife I wanted to buy into Bitcoin and then they bought it when it was like in
00:41:04| like AP thousand or whatever yeah it's just about the peak and then three weeks months days and months three months later it's worth less than half one third about my third bath RS about a
00:41:20| third so if you put your life savings into it you're convinced your wife you can do it boom you're done to a third of your money money just it was just funny because it does you're trying to you're
00:41:36| trying to state your case that it's no no I'm just saying hold on do as many people make money as lose money in the stock market is that an accurate statement yes for someone to make money
00:41:47| someone has to lose money correct yeah so when you're making money on the AP AP top 50 SMP code sure I think standard and puzan who's losing money
00:42:01| probably the people who don't know what the hell's going on which is majority people apparently who's gaining money who do you think is getting then everyone has money is gaining money and
00:42:12| the people who are analyzing it using computers like quants quants mm-hmm you can break that down for me further do you have any programs you'd like them yeah so I am a quant I have never made
00:42:28| any money with it because it has your homework other and what's drawn do I make you sick Nick you like this Nick huh you did so it's analyzing past trends creating
00:42:43| historical knowledge via computer which then analyzes it and determines the profitability and the odds of the outcome of buying a stock at a certain period of time really no I'm gonna tell
00:43:00| my dad this exact sentence is not gonna like it what the hell would you say to me don't fight I'm gonna make burgers next week are you sure
00:43:10| yes like that listen it's speculation based on probably and based on mmm current trends in the market anything really you say that's me again we all know fistfight so the whole thing is
00:43:26| that there are a lot there's a lot of computing power for determining what's gonna happen and not all of it is probabilistic but there's a majority of it that people are getting screwed out
00:43:38| of money because a computer is trading against them mmm simply you're fighting a computer you like that Nick the computers are wetting weird no they're not winning this is the weird part think
00:43:56| about this as those computers are suddenly going to be competing against other computers once they become readily available and affordable and guess what they're not
00:44:07| gonna be able to predict them the same way they predict people it's true because peach people are emotional mm-hmm but they can't react fast enough for a supercomputer you talk about fast
00:44:22| enough there's a weird thing where if you find out what's happening with the stock before anyone else you can make a lot of money but butta butta butta big insider trading
00:44:31| oh are we going there so you're cheating the computers out of their money which is a fantastic idea that's what you're saying it's a great idea let's screw those computers all over computers and
00:44:42| the other people who don't know anything yeah those people too sorry people so if you were associated with computers I'm sorry if you own a majority of stock which is like more
00:44:53| than 5% of a company then you are dictated by the SEC which is the government that you are required to report what you're about to trade so you're gonna lure this is a whole [ __ ]
00:45:10| you're not a government act get out my donation so you can but you have to wait a certain period correct you're not allowed to I don't know how many wait Martha Stewart she waited two days yeah
00:45:26| yeah yeah hold on this is the craziest part since no one calls me and says hey Nick big fan of panders the Ravens but you've been at midnight and you better have my buddy my buddy from Chicago just
00:45:41| bought a lot of stock let me tell you this it's not gonna work out too good are you guys gonna take a bigot cuz he's a child molester I know excuse me I know yeah you just
00:45:56| made the news is molesting kids and I say hallelujah our sir I don't know who bought my stock I don't care everyone could have my stock he says well this guy's diddling kids all I'm saying it is
00:46:10| it's gonna hit the see you Nick and he clicks hangs up there you go oh [ __ ] I better sell my negative stock exactly what I mean is it illegal to
00:46:23| sell my stock at that point yes he's gonna be arrested why that's insider trading you're not allowed to act on private information so I'm supposed to sit there let let the world know some
00:46:40| diddler bought my Stiles would hold your your finger open the whole place until it comes out on the news what's that what if which news station like CNN first one like first one is that true
00:46:56| yes are you sure yeah break public information so are there new stations that are in on it probably yeah and wait wait and hold on are like low-profile like they make them a month before would
00:47:11| it be worth it to make a new station a month before have them publish four things because I'm sure the news regulation must be like must publish four things and then release the
00:47:24| information to no one because no one follows them but it's like how your master plan is to screw over the computers and people who are not on the know with money that you don't have that
00:47:38| is not investable in a couple of we will never again oh I'm assuming I assume I'm assuming I have money Jesus Christ I wouldn't do any of this [ __ ] I believe take my money
00:47:50| you goddamn robots I hate you yes yes yes yes oh I just imagine people running around and giant bags of money on their backs feel like I want up this with the money sign yeah how many time
00:48:12| I know there's ways to game it another space to play it I know there's smart things to do I don't know what they are flash crashes you know talk about that no no no what - Wow well that's too bad
00:48:29| Nick because we're gonna go into it what's a flash crash a flash crash there one that happened I forgot the stock name but somebody mistyped at a zero and they sold ten or a hundred times more
00:48:44| stock than they intended and they owned a lot of it so they caused the price of the stock to drop when the stock of the when the price of the stock drops over like 30% then the exchange takes notice
00:48:56| and pauses trades they'll actually reverse trades and they correct what happened ah they'll fix that over 30 yeah I think we're selling balloons in value or DoD values seriously what if
00:49:09| seriously the president of the company is a kid diddler and it drops then I guess that's a staff I'd change so you're not get your money back I don't I don't know Nick are you why would you
00:49:28| invest in a kid diddler I didn't I didn't know he was it was called unban ders it was um pan or Dan and I thought I put all one money in so the same thing happened but black Monday I think you
00:49:43| think all black Tuesday October in 1929 the [ __ ] you talkin about percentage change the market lost 23 4% of its value in two days that's a rough two days it's like a twenty folks so this is
00:50:06| it I love the Great Gatsby because it focuses on this era where people are so self indulgent and exuberant and when it pops the richest of the rich have been living so highly and on money that is
00:50:19| essentially not abrogated yeah it's in the name and then they they crashes and everything falls apart the Roaring Twenties ends hmm wait that one does the
00:50:33| Great Depression yeah that's the beginning of the Great Depression because so many people had leveraged themselves into the stock market because it was so fruitful that when it got
00:50:42| destroyed they had nothing the richest people went to dust so what I said earlier strong shoes well your money comes from somewhere right comes from corporations which are valued on the
00:50:58| stock market I come from somewhere whether it's people being screwed out of money or people being flam flus old or bamboos old or or it could be an honest business that just makes money in
00:51:11| general like no way I'd be providing a shirt or the house you're living in are the drums behind you are those pillows or that crappy Cheeta decorative throw you have on that ottoman right there
00:51:26| that's the ottoman itself oh I'm sorry don't I am very sorry so what do you think about noises right now you gotta keep going there are among my which weren't has been very proud of show we
00:51:47| got close because no finish up does make you piss your psyche on camera it's not even piss it's my head is like exploding because I don't agree with these you know regulations like good money in
00:52:04| soccer you know I cool so I don't gonna talk about me let me talk about me got money I was able to save money throughout my 20s and I have a decent amount of money now I have lost on
00:52:17| certain trades tens of thousands of dollars maybe god damn it that's not even a number I've even seen ok yeah there's certain ones that I feel like there are stocks out there that are
00:52:32| intended to take your money as their probabilities my fricker yes so hold on there are socks literally out there that get created to suck you in take your money and disappear and
00:52:45| that's how they make their money correct yeah I think so that's how I feel about every goddamn stock in the world buddy okay but what about like Exxon which is like the
00:52:54| largest company the most no I think Exxon is gonna disappear tomorrow if I put money in it yeah that's how I feel bro could you tell me on your children's lives that Exxon stock is gonna be fine
00:53:10| tomorrow I would probably buy consumer goods stock such as like prime no no no no no no I would die no part the Cameron Bure perfect a recession a profit nobody buy whatever I buy it's probably gonna
00:53:26| go out on boys during a recession no I worked in the consumer goods and cleaning materials and Procter & Gamble's pretty good company they buy a lot of good stuff I mean I will not
00:53:38| disagree with them hmm you just got arrested tell I don't know honey thanks dad two or three days so buy this by the time this episode airs I will maybe own some by the time this episode
00:53:52| airs you will have bought it and sold it but I'll mm-hmm so have you ever looked at it stock chart with candles no no what do I look like Richie Rich have you ever heard the really wealthy people
00:54:12| drive by in their really wealthy cars and say stock market go Oh every day the other day a guy drove by rolled down his [ __ ] window and said you have any Grey Poupon quick clean my windows and I
00:54:30| said Grey Poupon this house paper buddy paid off Greg the ones like five bucks at the grocery store why would you have to be rich death my blood so the other kind of must reason what's the kind of
00:54:44| mustard no yellow no yellow trenches and French as that's called for just but think of this alright so a jar French is cost you like 399 or something Grey Poupon cost you five tiny knife or
00:54:59| a smaller a mammal huh it's not that much more than you make the rich joke that's true it's also a great company invest in stop they make French energy do that yes they
00:55:20| do wait McCormick that's French aha interesting I am well yeah actually would yeah they've been around freely thousand years I'd put playing family
00:55:40| you know usually folks had in 2009 need to have four times if I did it in 1928 let's say let's say let's go back to the beginning say I put money in 1928 because I knew
00:55:57| their family is gonna be good didn't I don't know that I see I don't know if it existed back then did it it didn't but I'm saying if I offered them money in everyone was following along until then
00:56:19| was founded actually 30 years ago interesting we it was founded 1928 I'm just saying they were around it's like I need a time machine to go suck someone's dick it's like hey what are you taking
00:56:39| on you that's insider trading I think you need to stop the sec guy goes with Dan's make sure you do not it cuz I guess that big is that he's I'm not swallowing I didn't swallow
00:56:55| oh wow so if you actually ride all day you'd have 162 times whatever you put in there so god damn I be rich something that you might be able to retire on that dick what I'm saying gang is that we're
00:57:19| we're talking about fake money I literally hate fake I literally can't stand it I can't uh dander dan he loves fake money hmm it's his favorite thing wasn't make a
00:57:31| machine that could make you think that he mined money I can think it it exists we're talking about people who mined money using video cards I don't give a [ __ ] folks do you give a [ __ ] I tried
00:57:47| this I didn't make anything I didn't solve a block mm-hmm maybe your video cards weren't good enough so I'm sighs me I would agree so what am i he realize right now really you know
00:58:03| officially yeah we are it broke through the highest level it's ever been some would say that we're at a peak and it might fall off that peak price to earnings ratios Cape Shiller how do you
00:58:22| know it's a word candlestick candlestick no Cape Shiller is cyclic sickly cyclically adjusted price to earnings ratio holy [ __ ] so what you're talking about good for you the value of a stock
00:58:38| which is its actual price is the highest it's ever been people are paying so much for stocks right now that it's just absurd [Laughter]
00:58:53| huh holy crap so you shouldn't invest right now Nick save your money or the money you don't have because you shouldn't invest right now it's a terrible time hmm but I will say that if
00:59:06| you had invested equally in the past along the whole span of history you would make out pretty well but right now probably not you're out can you figure out what um I would have made right now
00:59:22| if I invested in ancient China gold I don't know what you mean by that ancient Chinese gold hmm the value of gold from the beginning of time is what you're asking for
00:59:35| yeah sure this sir machine that doesn't that's great the second day I guess if you were to invest in gold to the first time at which trade it was in 1985 in the whole arc exchange
00:59:54| I hope not that here I'm sure don't well this is the first one that shows up but it's done I don't think shows up the show was on square I'm starting to sleep fish what it swims up the shore from
01:00:12| there shoal because it's evolving buddy it's about a grow into something big like a you here's a real quick point I um let's say ahead billion dollars - yeah put it in there why would you put
01:00:28| it in there I just felt so foot powder yeah folks Jesus Christ I can't do any more this technical stuff I can't do theoretical money I can't do stocks I can't do any of that [ __ ] I hate Dan
01:00:51| I hate theoretical stocks I hate all the most fun I've ever had I love saying you hate something I just honestly like you like I get it yeah because honestly if I can't lift a
01:01:06| hammer and hit it if I can't pick it up and put it into a truck if I can't physically touch it for it I'm not real it's not for tough it's not for real Williams what I'm saying folks is
01:01:24| investigate it in your own times if this pio ever goes public i'm panderers we will actually let anyone who's watched this episode or previous force tips we call that the iso IPO I
01:01:41| asked P IPs oh no I want to keep this going because he's gonna just fall asleep at the corner no I'm afraid to goddamn end the episode I was like had anyone to recapture let's do a recap I
01:02:04| gotta get in now cuz it's gonna go to the moon I'm bearish this we get um stock martyrs - Parrish accident yeah crypto start marketing only or as far as I can go 3p mmm like only gonna put
01:02:19| there hmm Oh like holding positions it seeks him alpha this one bought the volatility candlesticks all those patterns [ __ ] hope hyped Hodel growth stock buybacks
01:02:32| we didn't cover that oh we didn't cover that let's see why it's so high right now another episode compound interest high-frequency trading computers high-frequency coax cables oh
01:02:46| my god and that's it Wow hasn't be covered at all this can come in our episode was great it covered everything you guys wanted to talk about the stock exchange what really happens like the
01:03:05| turds and nitty gritty if you guys have any other questions like please feel free to reach out to us we will absolutely get back to you we will even give you tips and tricks on
01:03:19| how to make your money back Nick will even dig rats at 40 I'm fully into his mouth but I like you in a respectful manner people all of you like yeah we like you a lot respectfully you
01:03:38| need to brush off your top let's on that to our friend of every guest oh my god thank you yes
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