Episode 89: Bitcoin and Ethereum Go Crazy

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Episode 89: Bitcoin and Ethereum Go Crazy

In this episode, we discuss—mobile phone mining, a top 3 coin, basics of bitcoin investing, and open-flame cooking medium.

In News Break, we talk about phone manufacturer HTC, allowing users to mine Monero (XMR) through its blockchain phone, Exodus. Users will be able to mine Monero through the DeMiner App, developed by Midas Labs, available for download in Quarter 2 of 2020.

For Token Time, we talk about Ethereum. We discuss the numbers, why the numbers are important, and what this means for all of us.

We answer Jenny’s question in WhatchaThinkin’: I’m a college student and I am willing to invest in bitcoin. Where do you think I should start?

Listen to our answer to Jenny’s question in this episode as we go back to the basics. You can ask us a question, too (and become a Beards & Bitcoins Celebrity) by sending us an audio message at ask.beards.live

In Manspreading, we talk about grills—propane, hardwood, charcoal.

Time Stamps of Segments
06:47 News Break
14:00 Token Time
21:41 Whatcha Thinkin’ (New Segment!)
28:23 Manspreading

This episode is sponsored by Monarch Wallet. Rule your own financial kingdom from the palm of your hand.

A team at Monarch is working hard to bring you the one app to access all the best crypto services. They believe in delivering tech, not hype. With the universal decentralized Monarch Wallet, you can buy, store, spend, and earn crypto and with Monarch Pay you can set up and accept recurring crypto payments.

Monarch Wallet and Monarch Pay are designed to make receiving and paying recurring crypto payments safer, faster, and easier for consumers and merchants alike.

For more information, check out and download Monarch Wallet on App Store or Google Play or head over to https://monarchwallet.com

Unite the Crypto Community!

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Thanks for tuning into this week’s episode of Beards and Bitcoins—the podcast bringing you news, information, and stories to spread awareness about cryptocurrency. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show, and leave us a rating and review. Help us spread the word by sharing your favorite episodes on social media. And don’t forget to visit our website, grab your favorite Beards and Bitcoins merch, and follow us on LinkedIn and Twitter!

Please also note we do not provide financial advice. Always do your own research when investing or making financial decisions.

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BitBoy: @BitBoy_Crypto

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TRANSCRIPTION

Episode 89: Bitcoin and Ethereum Go Crazy

 

BitBoy: Hello everybody and welcome back to another episode of your favorite podcast Beards and Bitcoins, a Crypto Podcast for the man’s man and the ladies who love them. As always, I am your co-host BitBoy crypto joined by my compadre my partner in crime, but not Financial Crimes, JChains what is going on J-dog?

JChains: Another day in the life, man. Living the dream, living the nightmare, doing it all.

BitBoy: It’s definitely feeling a lot more like a dream than a nightmare today. What do you think about that?

JChains: Absolutely. I think everyone was pleasantly surprised to wake up and see the state of the markets. We’re seeing green candles; which I don’t think we’ve seen in a while like this. So, it’s very exciting.

BitBoy: Just pierced 8600 at the time of this recording, by the way. It’s weird by the way.

JChains: We were talking just a few minutes ago, before we started recording and I think we were still in the 84. So, it’s a good it’s a good feeling it puts a smile on your face, let me tell you.

BitBoy: So hopefully by the time everybody’s listening to this, we’re still ripping and we’re still going up. So, it’s good, we’re leading up to the bitcoin halvening. We’re not too far away from that, just a matter of weeks now, less than two weeks until the halvening and we’re starting to get some excitement. Bitcoin Ethereum, both of them are absolutely pumping doing great. We talked about last week, you had to join the audience– like honest for the audience here, J, for just a second.

JChains: Yeah. Let’s do it. I think full transparency is good.

BitBoy: Let’s talk about your little fumble you had, with your stable coin fiasco, which I think is important for the audience to understand.

JChains: It’s an important lesson, it’s an important lesson. One of greed, one of paying attention, one of doing your research and kind of learning the market conditions. So, I was going to buy a motorcycle, it ended up getting. So, it got sold underneath me some guy, whatever. That’s beside the point, but in order to do so, I was going to sell some bitcoin to buy the bike, ended up not. So, I was going to buy the bitcoin back, I’m literally in the middle of all this is when it went from like 70? or like 69 or 70 or 7000, like up to 7500, like in the blink of an eye. So immediately I’m like, shoot! I just lost out on some sats. It’s okay, I’ll get it. So, I tethered off waiting for it to get back to where it needed to be. Well, long story short, it never really got back to the entry that I wanted. But yesterday early, I did market buy back in. Again, I lost a bunch of sets of what I had previously, but I’m back in the game. So, don’t flip and try to scoop if you don’t know what you’re doing.

BitBoy: And this is something I tell my audience on my channel all the time is a lot of people have this idea that you’re going to get out of a position and get into a stable coin or whatever. But the truth is that most of the time when you’re reading making those moves, the market is kind of anticipating those moves because as a retail investor, I mean, you’re really just flying by to see your pants doing what you think somebody else tells you, you should or you’re watching the chart, whatever it may be, you don’t have the money to move the market. So when the price goes down, in a lot of ways, it’s just better to huddle through it and let it go up if you don’t really know what you’re doing. Because when you’re feeling FOMO and you’re wanting to jump in, that’s usually a good sign that the markets are about to go down. And when you’re feeling scared and you want to jump out, that’s usually a good time the markets about to go up because it does opposite of what retail investors think it’s going to do all the time.

JChains: Absolutely. And again, I know better I’ve been in this position, maybe not with this kind of amount before. But I know myself. I’m a bad trader. When I start doing stuff like this to try to make moves, I mean, I don’t know if sometimes I get bored or what it is but I want to make some moves. I want to do some scoops, always. What happens when I buy, it drops. When I sell, it pumps. So, if anybody’s listening if you need something to pump, let me know. I will sell it and it will pump for you.

BitBoy: I have something I want you to pump right now.

JChains: The show?

BitBoy: Yeah, pump the show, pump the show. Tell them what we got on you today.

JChains: Awesome. I like that. I love—just really quick before we get into kind of the what we got going on today in the show. I love your– if you listen to the last three weeks of the show your segue are getting better and better and better. I’m proud of you. I’m proud of you, man. Alright, but anyway, today we’re going to be talking on News Break. We’re going to talk about some mobile phone mining. It’s on the way. It’s coming Quarter 2 2020. But is it going to be worth it? So we’ll talk about that on Token Time. This top three coin is pumping. It is pumping right alongside of bitcoin for what you’re thinking, again, we’re answering your questions, so please, please keep giving them to us and we’ll pick the best one that we get. We’ll answer that on air.

BitBoy: We got a good one today, for a new person that wants to know, how do you invest in Bitcoin?

JChains: Oh, that’s very good. Hey, sometimes you just get back to the basics, right?

BitBoy: Absolutely.

JChains: Yep. So, we’ll have some we’ll have some good answers for you there and then on Manspreading, we are going to discuss open flame, cooking mediums and if you don’t know what that means, come back for Manspreading or stick through the whole show.

BitBoy: Absolutely, absolutely. So, before we get too in depth on the show, we do need to give a shout out to our show sponsor Monarch Wallet. So, the Beards and Bitcoins Crypto Podcast is brought to you by Monarch Wallet. Rule your own financial kingdom from the palm of your hand.

JChains: That is absolutely right, Ben. The team at Monarch, they are working hard to bring you the one app to access all the best crypto services from the palm of your hand. They believe in delivering tech and not hype.

BitBoy: With the universal– with the universal not universalized with the universal, the Centralized Monarch Wallet, you can buy, store with, and earn crypto with Monarch Pay you can set up and accept recurring crypto payments.

JChains: How nice, how nice. Well if you need more information make sure you check out monarchwallet.com or monarchtoken.io today

BitBoy: Yeah, absolutely and we got a special offer for you guys with crypto.com if you guys visit mco.beards.live to sign up for a free crypto.com account. We both get little chicken, we get a little chicken, you get to eat a little chicken you know? We get 50 bucks worth of chicken for free. So, look at looking forward to seeing you guys sign up for that and get some free money. Let’s jump into News Break.

 

06:47 NEWS BREAK

JChains: Alright. So, HTC is coming out with, they’ve got their blockchain phone right? And so, they are actually launching an app in conjunction, it’s called the Deminor App and it’s being developed by Midas Labs is scheduled to launch quarter two of 2020. So, coming up pretty soon here in just a few weeks, but that is going to be mobile mining right there on your phone. But the question is, is it even worth it?

BitBoy: Well, according to this article here, HTC’s blockchain phone takes over a century to mine enough crypto to pay for itself.

JChains: Yeah, so that comes to like, I think the value is just like $1 and 38, something like that a year is if you got this thing running, like all year long, that’s what you’re going to make. Doesn’t really sound like a profitable, I mean, it’s better than nothing. But-

BitBoy: That’s saying though, at the same time though, that if the price were stayed the same where it’s at right now, if the price goes to 100k and X’s, hey, we’ll take 10 years pay for that phone.

JChains: Well, that’s true. Well, this mines Monero. So that’s what it’s mining.

BitBoy: Okay, okay.

JChains: But I think that you know, there’s still as bitcoin rises.

BitBoy: It’s interesting because they’re mining Monero.

JChains: Yeah.

BitBoy: Wow, that’s interesting. I didn’t know that.

JChains: Yep. So, it said you could pay off the phone, you could actually pay off your phone, you know, 170 years. Now that doesn’t include any of the electricity costs or anything it costs, you know, to operate your phone, any kind of maintenance, you know, all that stuff, obviously, whatever, but 170 years to pay off your phone if you just want to get it just to mind.

BitBoy: Cool. Will they set it up for 170 yearly payments?

JChains: Yes.

BitBoy: So, when I go get the phone and be like, okay, I’ll leave it a dollar 50 today, you know, $150 deposit

JChains: For the rest of the term? Yeah, I mean, I think probably by the time we get to 2050 there’s going to be some magic there. Yeah. 2050 there’ll be some magic pill that lets you live forever.

BitBoy: Very possibly. I would not rule that out by using imagination. But how do you think are they going to do population control?

JChains: Viruses.

BitBoy: Viruses and vaccine. You know this is interesting because this brings up like a really like an argument that a lot of people are making about crypto, which is like microtransactions like where you have, like, let’s say you have your cell phone, you have your computer browser, you have other wireless devices, your iPad, your iWatch, whatever. And all of these devices internally, since they’re all on Wi-Fi, including things like maybe in your thermostat are all working together to mine like little micro transactions. So, you’re just bringing in a little fraction of Satoshis everywhere from all these different places and I guess over time, like all those together could give you a decent amount. Do you think that’s a legit thing? I don’t know.

JChains: I don’t know if it is but I’m sure it could be set up. And I mean, I think that I would probably take advantage of that if there was some kind of, I don’t want to say reward because the Satoshi is the reward for it, but I mean, some kind of incentive for me to say, ‘Okay, yeah, I will. I’ll hook my house up’ I think, like, isn’t Holochain, that’s kind of like one of the fundamentals of what they work on. Right? It’s using computing power from people on the network to power stuff, right? And it’s like–

BitBoy: Yeah, there’s a few projects that are like that, Siacoin might be the one you’re thinking.

JChains: Maybe, yeah.

BitBoy: I don’t think Holochain but I could be wrong. But Siacoin, we talked about that on the show, maybe that’s what you’re thinking of?

JChains: Maybe. I’m just getting so many projects, I’m getting

BitBoy: But maybe Holochain is, I forgot.You know it’s funny, like, I’ll look at a project, I’ll be like, ‘what is this project do exactly?’ and then I’ll find a review two years ago on my channel of that project and be like, ‘I don’t remember anything about this project, other than like, it was fast or you know, how it has a catchy logo’

JChains: Yeah. I mean, it stays relevant because it’s one of those tokens that goes from like, four to five Satoshi. So, every time it does it, it’s like a 25% gain or whatever. So, it’s like, okay, like this shouldn’t be news-worthy, like keep this out of the gainers.

BitBoy: Yeah, but yeah, you were saying like something like Siacoin or some other projects?

JChains: Yeah, if I could put my house up to it, because right now, my oven and my thermostat are all Wi-Fi enabled, I got an app to control everything. Yeah, if they can use their extra power that while I’m not cooking anything in the oven, maybe while I don’t have my air or my heat on, it’s using the power that it has within its computer mainframe, that sounds like a nerd speak that I don’t even know what I’m saying. So-

BitBoy: Nerd alert.

JChains: Nerd alert. But I would sign up for that.I mean, I don’t think that I would use my computers or my phone or my watch. But I would let my house do the mining stuff, for sure.

BitBoy: Yeah. Okay, I know you and I are pretty similar about stuff, like I just know like, we like to spend money, we like to do things simple, like if there’s something that can be done or wasn’t paid for and get somebody to do it, whatever it is, you know, not like manly stuff you should be doing at home. But I mean, like in general, that’s kind of our attitude about stuff. I just wonder if people from other countries like third world countries like India, you know some other countries in Africa, and they just have totally different perspectives of this, we look at microtransactions and we look at the amount that comes in from that, were like, ‘that’s nothing’. But I got guys in my Telegram group that have $64 in crypto that think they’re going to become millionaires from that, you know, they think that’s a huge amount of money, you know? Or equivalent to a millionaire in their country. I mean, I understand a million dollars, a million dollars. But I just mean, in America, like a million dollars can still get you pretty far, you know, it but in other countries $10,000 can get you far, you know?

JChains: Yeah, that’s an interesting comparison and how microtransactions to some people are more equitable. It’s like to some people like they get excited about finding a penny on the street, whereas I wouldn’t even pick it up.

BitBoy: No, not at all. I would struggle to pick $1 up like no offense to people that love dollars, but-

JChains: I don’t need that dirty Fiat.

BitBoy: No, no, no. Get out of that. Get out of that. So yeah, guys are checking out our website before we move on here because we want to let you guys know that we do have our 21 Best Bitcoin Practices Guide. It’s a PDF. It’ll help you if you’re trying to get started in bitcoin or cryptocurrency, absolutely free. All you got to do is head on over to beardsandbitcoins.com and just insert your email address on the little pop up, they’ll come up and you will get that for absolutely free and you’ll get our weekly newsletter which is not a selling you stuff. It’s just us telling you what the podcasts about every single week so you guys are definitely going to want to check that out.

JChains: Yeah, when you’re sitting on the throne one morning, it usually comes out what on like Thursday or Friday morning? While you’re sitting on the throne, that’s reading material, man.

BitBoy: Absolutely. That newsletter and then you get to click and listen to the podcast straight from that, so definitely cool stuff. Well speaking of sitting on the throne, in the next segment for Token Time, we have the number two most royal crypto of all, let’s check it out.

 

14:00 TOKEN TIME

BitBoy: Alright guys, so now for Token Time, we’re going to be talking about Ethereum aka AKAA, I don’t know what that is, that sounded like ‘also known as anonymous’ or something.

JChains: Or also known as with a stutter, also known A-as,

BitBoy: Ethereum ETH, make sure you got a good ETH dealer, you’re definitely going to want to find one, because that price is now $217 as of this recording,

JChains: That’s important.

BitBoy: It is.

JChains: That’s important.

BitBoy: J, why do you think these numbers for bitcoin, like Ethereum 200 and then bitcoin AK like, what do you think these are important numbers for people to see the price at?

JChains: They’ve been heavy resistance just below, it’s been heavy resistance for quite some time, I think until like break through that resistance during a global pandemic while we’re still in it. You know, while we’re still kind of being conscious of some of these things, and while we’re still seeing the landscape of our society changing. To see these resistance-levels kind of get broken, I think is a major thing, especially kind of in tandem, because usually it’s bitcoin and then you see Ethereum, but I think, you know, Ethereum pumped last night, whereas bitcoins pumping today, so or more today than it did last night. So, I think that’s important that they’re doing it together versus, number one first versus number two.

BitBoy: Yeah, I agree. I think these are psychological numbers and you know what’s really interesting? Is I almost feel like, we have psychological numbers for those people that are in crypto, but then there’s like a whole another set of psychological numbers that’s outside of crypto. I was just thinking recently about back in 2017 when I was like preaching about bitcoin and preaching about cryptocurrency and people are saying it’s a Ponzi scheme, or it’s this or it’s that. And those people have been feeling pretty good over the last couple of years, you know? By telling me that it was never going to be successful because it’s going down and since then, So it’s almost just like Chicken Little’s ‘Sky is falling’ or like, the ‘Boy who Cried Wolf’ thing is how I feel sometimes to my friends and family cause I’m like, ‘No, you guys don’t understand like, this is coming, I promise this is really happening’ because I’ve been saying this for so many years. So internally in the crypto community like 208,000, those are key numbers for us to get to when it comes to Ethereum and Bitcoin. But there’s other numbers outside of that like for my friends and family to consider like Bitcoin not to have been a bubble, like it’s going to have to get to all-time high and that’s when people will start really fumbling back in on it.

JChains: But why wouldn’t you want like if you know about it, if you’re like, well, I’m going to wait for it to get back to all time high before I get in. That just doesn’t make sense.

BitBoy: Well, it’s because they don’t think it’s ever going to get there.

JChains: Okay, okay.

BitBoy: They think they think this whole thing’s a joke. You know, like I said to someone the other day, I was telling them about the Chinese cryptocurrency which, I mean, is a pseudo crypto because it’s nationalized is a national centralized crypto, but I was saying like, ‘Yeah, China is  completely changing over to cryptocurrency for the way that they spend their Yuan, it’s going to the digital yuan.’ And just a reminder like I said on my channel you know one bitcoin equals one bitcoin but one Yuan equals one Yuan. Nobody else probably thinks that’s funny but me, and the person was like, ‘Really? Huh? I didn’t know that.’ And like there’s this whole world going on that is about crypto that we all are privy to but your average person doesn’t give a rip.

JChains: That’s a good point. That is a good point. All right, let’s bring it back to ETH. What do we know? Okay, what I think we should do sometime in the future is probably have Vitalik on the show, if we can do it. I mean, we’ve had Cz on, we’ve had a number of big-name guests. I think we should get Vitalik on here to talk to him. I think that that would be very interesting. I’m not sure that I’m particularly– I like to laugh at all those pictures of him wearing unicorn shirts and picking his nose and wiping boogers on the wall.

BitBoy: Are we going to slap the nerd alert on him while he’s on the show?

JChains: 100%.

BitBoy: We have to. I mean, Vitalik is the king of the nerds, right? I can’t imagine a nerdier person than Vitalik.

JChains: I’m like speechless because you’re absolutely—there’s nothing else to say.

BitBoy: I mean, who else would it be? You know? It’d be cool to have him on the show, I think. I’ll get him on.

JChains:  So, he’s like a Russian-Canada, right?

BitBoy: He embraces it. So, I think you could joke around with him, I think you’d be fine with that.

JChains: Yeah. So, if you know him, tell him to come on the show.

BitBoy: Yeah, let’s get him all. Let’s get him on. But what do you think? So, I really think Ethereum has had quite the resurgence over the last year. I mean, I think there was a time where even though it was number two, number three, going back and forth with XRP that I didn’t really know if it was ever going to—I thought maybe some things were going to pass it and now it’s really turned back into this kind of world where it’s Ethereum’s world and everybody else is just living.

JChains: I agree with you there. I mean, there was there was a period where it was kind of like, Alright, Ethereum is on its way out. Yeah, it’s number two because it’s legacy and it built up that market cap from kind of the last bull run, but there’s no way that it would sustain there because they weren’t developing anything, nothing new was coming out. I mean, the whole thing was like, I want to bring up crypto kitties, but that was I was quite some time ago. I mean, just like destroying its network. It’s like, okay, like, what do you actually have, but I think in the last, what, year and a half? Maybe 18 months or so, that’s a year and a half.

BitBoy: Yes, it is.

JChains: Little quick fact check out there.

BitBoy: Let’s just check your math. It’s correct.

JChains: That is correct, sir. I think that they’ve done a pretty good job. I mean, you see that they stayed pretty, pretty relevant with kind of some updates that come out and some things but–

BitBoy: All the DeFi Binance things.

JChains: Yeah, the DeFi. I mean, to come out that was huge because that became a huge buzzword, you know, at all the conferences before they all got shut down or went to Virtual.

BitBoy: Yeah.

JChains: Lame. Well, I think personally, that Ethereum has a very bright future. But there was a time where all of these coins—Tron, Cardano, EOS, where they were all coming off of Ethereum chain and starting their own chains. And it was like, Okay, well, these projects are going to be the next Ethereum because now they’re aren’t seeing any of these projects come close to Ethereum yet not a single one. There were times where like, okay, their transactions are closed or user base is closed. But just overall, nothing’s been able to touch Ethereum and I don’t think it’s probably going to.

JChains: I think it’s a lost cause at that point, right?

BitBoy: Yeah, I think so.

JChains: I mean, when you go to a Coin Market cap, if you look at market caps, I mean, Bitcoin, obviously, you know, the king with $158 billion market cap, you got Ethereum with a $24 billion dollar market cap. The next closest is XRP with 9.9. So, I mean, they’re less than half or they’re more than half away from it.

BitBoy: Yeah, and you see what’s happening with XRP and it’s had a surge recently. But I mean, there was a time where it was number two. And it actually passed Ethereum and now Ethereum is really taking a stranglehold on that number two spot

JChains: As it should. XRP is trash.

BitBoy: Oh God. If you want us to talk about your coin, tell them how they can do it, J.

JChains: Well, if, if you want us to talk about your coin, there’s really one thing you got to do. You got to visit our Telegram channel, join it. It’s t.me/beardsandbitcoins. Come chat with us. Let us know what projects you want us to talk about and hey, we may use it for the next Token Time segment. You never know.

BitBoy: Absolutely. All right. Well, let’s check out a question from the audience

 

21:41 WHATCHA THINKIN’

BitBoy: Alright, so we got a question from the audience here. Jenny is going to ask us about what you can do as a college student, to get into Bitcoin?

Jenny: Hey guys, I’m a college student and I am wanting to invest in Bitcoin. Where do you think I should start?

BitBoy: Alright, so you heard her, J. She wants to know: how can she invest in Bitcoin? And this is a question I get all the time from people in real life and in my Telegram group on Crypto Twitter, what people want to know? How do you invest in Bitcoin? Well, what do you think is the simplest way to tell her this?

JChains: I would say, and I think what you just said, right, there was super key, right? What’s the simplest way because to bring most people over, especially if you’re not tech savvy, or really want to like, worry about a lot of the nuances of cryptocurrency and kind of the fear of buying, sending, storing—all that stuff, while you are just getting into it and if you’re just going to buy little bits at a time, my best recommendation is to use the Cash App. It’s super simple. Most college kids already have it, because that’s what they’re using to send money back and forth to each other. Use the Cash App. I mean, you literally can just go on there, send money from your bank account, to your Bitcoin, buy the Bitcoin, and then you just hold it there and then as you learn and if it’s some of you want to get into right away, it’s so simple, so easy. So, you can own Bitcoin. Do it now before it goes crazy and then like most of us, you start to learn. It’s an ongoing evolutionary process learning about cryptocurrency, blockchain, all that stuff. So, I mean, in my opinion, fastest, easiest way is through the Cash App.

BitBoy: Yeah, it’s definitely a learning process. I mean, you just continually learn things from me.

JChains: That’s so true.

BitBoy: Well to be fair, you have a real job.

JChains: Yeah, but I learned a lot about my crypto stuff from you. I mean, you’re in this full time. You’re in the game. You live this. I mean, we both live it. We’ve been doing it for a number of years. But you know, it’s your full-time gig. I do have a day job that I got to focus on most of the time. Right now, it’s really strange. Our industry completely shut down. So, I have more time to-

BitBoy: Yeah, long story there, if you been listening to the podcast, you know what’s going on with that. But yeah, so in all seriousness though, that was kind of joke but the thing is, I agree with you I think the coin for the Cash App is the easiest way. CoinBase is another easy way if you want to buy things other than Bitcoin, Coinbase is good, the fees on Coinbase are kind of high. Cash App fees are also not the lowest anymore. They used to be the lowest but Binance US is a good place you can get stuff, you know, pretty cheap. CoinBase Pro is like a deeper layer than your normal CoinBase app you get on the App Store. So that’s got really low fees. But I agree with you Chains, when you say, you know the important thing is to keep it simple. And so, if you’re a college student and you just want to ask me like, ‘How do I invest in Bitcoin?’ Cash App is going to be the easy way to do it. Most of you already have it is, you know, younger generation uses it, more than the older generation. But the other thing I want to say here that’s really important, is the biggest barrier I see to entry for your average college student to get into Bitcoin or cryptocurrency is that for some reason because they haven’t been educated at all on Bitcoin, they believe they have to buy a whole Bitcoin.

JChains: Don’t. You don’t. There’s a hundred million Satoshis in one bitcoin. You can buy as much or as little as you want.

BitBoy: Yeah, and I don’t know if you can actually buy one, it’s a fraction of a fraction.

JChains: You’re right, there are minimums. But-

BitBoy: Yeah, I mean, but you can buy 10 bucks, 10 bucks worth or whatever. You can set up automated buys on CoinBase, for instance, where you buy a certain amount every week or something like that. So, you can buy $5 every week, and then over a year, you know, might start adding up, you know, or whatever.

JChains: And do you want to know what that’s called? If we’re talking to new people, Dollar Cost Averaging, right?

BitBoy: That’s right, DCA.

JChains: DCA.

BitBoy: Yeah, there’s some really cool apps out that do DCA stuff for you, which we may be talking about one of those on the podcast in the future. But you can do that automate. I don’t know if you can do it through Cash App. I think you probably can? you definitely do it your Coinbase

JChains: You can. Yeah, so I’ve got It’s set up every week, I do just an automatic deduction.

BitBoy: From Cash App?

JChains: Yeah, but you know what, it goes from my bank account into the cash like the Fiat section and then from there, I just go over and buy it. So that’s how– I mean that’s yeah, there’s no automatic buy bitcoin that I’ve seen yet.

BitBoy: Yeah, there are some out there that are coming out, that’s going to make that even easier for people to dollar cost average in. But yeah, I’d say use a Cash App understand you don’t have to buy a whole Bitcoin at one time and I think that’s going to set you on a good path for investing in Bitcoin and importantly, very importantly make sure that you are researching and your research to just be listening to podcasts. If you’re investing a minimal amount, then you don’t have to get sucked into the nerd stuff that somehow, we find ourselves in every day. But, you know, make sure that if you are investing a substantial amount of money for sure you want to– like maybe you’re getting an inheritance or you’re thinking about putting your college student loans into crypto, whatever it is, in that case, you’re definitely going to want to make sure that you’re researching and understanding the evolution of the space and things like that. I mean, just a great for instance, is you did no research at all, you just threw money in Bitcoin, then in 2017, when the price peaked, you wouldn’t take any money out. And you would have ended up losing a bunch of money, because you didn’t know how to sell your Bitcoin for cash or get out of it or whatever. So, there are some really simple things you’re going to need to know how to do. So, make sure that you’re doing that. Buy it on Cash App. No, you don’t have to buy a whole Bitcoin at a time and do some research.

JChains: Oh, and one other thing, really, if you’re a college kid looking to get into bitcoin, You don’t have to be a college kid, If you’re anybody just looking to get into cryptocurrency, head on over to our website, beardsandbitcoins.com and right when you log in, there’ll be a pop up, sign up for that. We already said this in the show, but again, sign up for the 21 Bitcoin Best Practices Guide. It literally is just a guide, whether you’re a newbie or you’ve been in this space. It’s just some good things to remember. It’s a good refresher to go over kind of some really good solid steps to take to keep your assets and your investments safe.

BitBoy: Yeah, and if you head over the website, you click ‘contact’, or you visit ask.beards.live, you could ask us questions; you might get yours answered on air.

JChains: That’d be fun.

BitBoy: Nice.

JChains: All right.

BitBoy: Let’s heat it up, real quick.

 

28:23 MANSPREADING

JChains: All right, heating up, we are doing. It is spring., I know. It’s probably warm. where you are, man. We’ve been in the 80s and 90s for a few weeks. It has been perfect grilling season. You and I talked earlier this week. You told me you got a new grill.

BitBoy: Yeah I did, I’m excited.

JChains: That’s like one of the most exciting things anyone, especially a man like us, you can do. Like that’s how you set your summer off, right? You got yourself a brand-new grill. Now let me ask you a question, because there’s three ways you can go about this, did you go propane? Did you go hardwood? Or did you charcoal?

BitBoy: I’d go propane.

JChains: Nice.

BitBoy: Yeah. I love Hank Kill, okay? King of the Hill. He’s real big on propane, okay? But in all seriousness, I think that for me, propane is just easier you just, you know *mimicks*

JChains: You flip, you twist, click, light and cook. It’s easy. I mean now, I understand that there will be some grilling maximalists that will say, ‘it’s a hardwood mixed blend with a little bit of charcoal and you can’t use any lighter fluid and yada yada yada’ but come on. It’s a–

BitBoy: Let me tell a little story. I mean, this may not be funny to anybody else but this to me, my whole life, this has stuck with me. So, when I was a kid, my dad, big griller or whatever. A better way to say it, my dad is a man like I am.

JChains: Yes.

BitBoy: Yes. My father and his father before him and his father before him.

JChains: Papa BitBoy.

BitBoy: Yeah, that’s it. Papa BitBoy. So, when I was a kid, he went bought a grill and he went bought this grill and he bought a charcoal grill and he brought it home and I was living my dad and my—well, I was visiting my dad’s house on the weekends at that point, my parents are divorced or whatever. But so he was living in an apartment at that time with my stepmom. And they had the grill out back. And all I remember right, I was probably six years old is my dad just trying to get that grill going with the charcoal, and he could just never get it exactly right. And for years, I’m talking about for years after this, he would walk right, every time we got time to grill, ‘Should’ve got a gas grill, should’ve got a gas grill, should’ve got a gas grill.’ And my dad said that when I was a kid probably a thousand times. So, I learned from that I had a charcoal grill at one time, But I think gas is the way to go. I mean, we’re living in 2020 here, you know? Let’s go ahead and take advantage of what we got. Ain’t nobody got time for wood chips. Okay, I got no time for that.

JChains: I mean like on the weekend if I’m going to use the smoker, that absolutely 100% I could throw a little bit of wood in there some lump, whatever, whatever you got to throw in there to get the smoker going. But when it comes to grilling, I agree with you, man.  I don’t necessarily care for all of the smells of the lighter fluid and all the stuff that’s associated with the charcoal Plus, if you don’t burn it off all the way then you’re going to cook that into your food yada yada yada.

BitBoy: There’s a big distinction in my opinion between a smoker and a grill. Like the process you’re going through. Like, when you’re grilling like you sometimes just want to go grab some burgers and throw them on the grill.

JChains: That’s it. I don’t want to spend 45 minutes getting the thing heated up to eat a burger, that’s going to take two minutes.

BitBoy: Right. Now, if you’re going to make a brisket or you like you want to do like some catering or you got family coming over like you know what? Pull out the smoker, that’s okay. But I bought a Weber so I bought, I’m feeling I did pretty good. It’s the first Weber I’ve ever had so I’m excited about that.

JChains: That’s like the Cadillac or the Rolls Royce of grilling man, let me tell you like that. The heat distribution is fantastic, the flame consistency. Oh, it’s a great grill, man. You did well.

BitBoy: Well, let me tell you what the first thing I grilled on it was, you want to know?

JChains: Just so you know, that was my next question.

BitBoy: Okay, I’ve cooked one thing on it.

JChains: Ah, Shut up. Are you serious?

BitBoy: I made a TikTok video about some Twinkies on that thing.

JChains: Did they ruin?

BitBoy: Unbelievably good.

JChains: Really?

BitBoy: Unbelievably good.

JChains: I could tell you it is probably been at least 15 years, probably, yeah, at least 15 maybe closer to 20 years since I’ve had a Twinkie because I’ll be 38 tomorrow. So that means that I was 18 when I graduated high school, right?

BitBoy: Yeah.

JChains: 18. I was 18 when I graduated, so that means yeah 20 years ago, more than 20 years ago because I was probably a sophomore in high school probably when I had a Twinkie

BitBoy: When I head out there to Austin in Oregon, all those nice grilling spots and barbecue, whatever, you know? I’m going to have to break out the grilled Twinkies for you.

JChains: Dude, let’s smoke a Twinkie

BitBoy: Smoke a Twinkie?

JChains: Not like ‘this’ smoke a Twinkie.

BitBoy: Not smoke a Twinkie but so, I bought a grill– The reason why I went ahead and got the upgraded version, I got the Weber because I went to Home Depot specifically to buy a grill in order to make TikTok videos, like to grill like fun stuff on the on the grill.  I got there and I was like, ‘It’s time for me to just get a new grill.’ you know, so I was like, ‘You know what, I’m going to use it to make some Tik Tok videos and in addition, I’m going to have the Cadillac so I can make the best meats.’ So that’s why I got the Weber. So, I got the Weber. I grilled out the Twinkies and it turned– like I kind of did it as a joke for TikTok. I didn’t think they were going to be that great. But man, they were so crisp on the outside it was it Believe it or not, it was really good. So, this weekend I’m going to be whipping out some out. Well,

JChains: (inaudible) yay

BitBoy: this weekend. I’m going to be whipping out some meat.

JChains: Yikes.

BitBoy: What do you think the meat we could actually cook on that thing?

JChains: Oh, probably Flank steak.

BitBoy: Flank steak. Okay.

JChains: Oh, yeah. Yeah, give it a nice sear, lock in those juices, maybe do almost like a teriyaki-type marinade. Ooh.

BitBoy: Yeah. Well, let’s find out from our audience, what their billing setup looks like.

JChains: I think that’s a great idea, make sure that you check out our Twitter feed. We will post it after the show is live. Yeah and it’ll be a standard Twitter poll like we do every single week. So, don’t be afraid to join it. Don’t be afraid to give us an answer, it doesn’t cost you anything. It just lets us know what you like.

BitBoy: Yeah, we want to know. Are you going to be grilling? Charcoal, wood or propane? That’s what we want to know.

JChains: So yeah, visit our Twitter. It’’s in case you don’t know it’s @beardsbitcoins.

BitBoy: Absolutely can’t wait to find out what you guys are grilling with and please don’t downgrade my man scale because I grilled a Twinkie, first. Okay, we’re going to be putting some good meat on it this weekend and I’m going to be letting you guys know next week. Maybe we can touch base with how it turned out. I’m excited for cook.

JChains: Oh, pics or it didn’t happen. I’ll tell you that.

BitBoy: Yeah, pictures or it didn’t happen, absolutely. So alright guys. Well that is it. Send us out, J.

JChains: Absolutely. Guys, thank you for listening to another episode of The Beards and Bitcoins Crypto Podcast every week. We’re going to be bringing you news, information and stories, fun stuff to spread awareness about cryptocurrency

BitBoy: If you guys enjoyed this episode, please visit ratethispodcast.com/beardsbitcoins to leave us a rating interview and also help us spread the word by sharing your favorite Beards and Bitcoins podcast episodes on social media and I did also want to tell you guys that I will be sending out the $10 for the reviews on iTunes we’ve been talking about this month either today or tomorrow so you guys can be looking for those.

JChains: Yes, be on the lookout for that tomorrow. Wish me a happy birthday, it’ll make my day because I will be at home alone.

BitBoy: Yeah.

JChains: And don’t forget, visit our website beardsandbitcoins.com. Join our Telegram group and come talk to us, say hi. Ask us questions and we’ll answer them on air.

BitBoy: Absolutely. All right, guys. Well, that’s another show. We will see you guys later.

 

Episode 89: Bitcoin and Ethereum Go Crazy

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