Episode 96: 350 Million People Will Be Able To Buy Bitcoin
We’re back! This episode is short but sweet—we talk about PayPal and Venmo opening up about crypto buying, protecting yourself when you’re doing your own research amidst Bitcoin forks, and Viva Las Vegas!
For News Break, PayPal and Venmo are opening up about crypto buying as PayPal is feeling the pressure from Square, the payment platform by Jack Dorsey, CEO of Twitter. How will it affect the cryptocurrency? Listen to this episode to find out.
In Token time, we talk about the different coins especially since bitcoin forks are introduced to make sure that new buyers won’t be confused. What is the difference between hard fork or soft fork? How do you protect yourself when you’re doing your own research? Remember: the word Bitcoin does not make anything more reputable.
For Manspreading, it’s about gambling styles in Las Vegas. We talk about the Lady Luck, experiencing hotels in Vegas and the craziness gambling creates even during this pandemic.
We have a new segment sponsor for News Break. It’s bestchange.com—a directory of selected trusted and reliable exchanges. Their website shows you where to buy, sell, and exchange dozens of popular crypto currencies or purchase them with debit or credit cards. Visit bestchange.com for more information.
2:43 News Break
8:13 Token Time
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 MonarchToken.io
Unite the Crypto Community!
We now have a way for you to show your love for who is your favorite host. We have Team JChains and Team BitBoy shirts. Check out the Merch on beardsandbitcoins.com—just click Merch on the top right side of the website and show us some love.
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.
Get your daily dose of crypto wisdom on Twitter: @BeardsBitcoins
Read more about cryptocurrency on our website: BeardsAndBitcoins.com
Join us as we take the discussion further on Telegram: https://t.me/beardsandbitcoins
Connect with us on Twitter!
Episode 96: 350 Million People Will Be Able To Buy Bitcoin
Hey friends, we’re glad you tuned in to this episode of Beards and Bitcoins, a Crypto Podcast for the man’s man, and all you beard-loving ladies. In this vast kingdom of nerdy incels, two men stand out as different from the crowd. BitBoy and JChains were both voted least nerdy in high school and most likely to have a better than mediocre podcast. Join them each week as they discuss all the hottest topics in cryptocurrency as well as the fan favorite segment, Manspreading. So, make sure to hit subscribe and turn on those downloads. Here are the dudes, Ben and Justin.
BitBoy: Hey everybody, welcome back to Beards And Bitcoins crypto podcast for the man’s man and the ladies who love them. Joined as always by my co-host JChains. We took a week off last week. I was in Vegas, we’re going to talk about that later. But Tom, what’s on tap for the show today, J?
JChains: Absolutely, man. Hey, it is good to see you. For News Break, let’s talk about these rumors about Venmo and PayPal opening up crypto buying and selling. That could be huge. On Token Time, I think we want to talk about really safeguarding yourself about not buying the wrong coin when you think you’re buying Bitcoin, like for instance, a Bitcoin Diamond. So, we’ll get into some of these things on kind of just protecting yourself when you’re doing your own research and then for Manspreading, like my boy, my man, Ben said he was just in Vegas. We got some more stories to talk about and let’s talk about our favorite gambling styles. Manspreading is going to be fun.
BitBoy: Yeah, absolutely. Definitely can’t wait. We’re going to talk about different games we can play and things like that. And I’m going to tell you guys how I hit it big in Las Vegas. Very excited to tell you guys about that. Definitely, definitely a winner. So, let’s go ahead and get the show started here. Let’s talk about Monarch real quick.
That’s right guys. 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 right, Ben. The team at Monarch are working very hard to bring you the best one app to access all crypto services. These guys believe in delivering tech, not hype.
BitBoy: Yeah, with the Universal decentralized Monarch Wallet. You can buy, store, spend and earn crypto. With Monarch Pay, you can set up and accept recurring crypto payments.
JChains: Nice. So, if you need more information, check ‘em out on the web, monarchwallet.com or you can go to monarchtoken.io. Read all about it. DYOR, baby.
BitBoy: Yeah, that’s right now we’re going to get into newsbreak here and very excited. We got a new sponsor for the News Break segment. So, we’re going to tell you about that here in just a second.
2:39 NEWS BREAK
BitBoy: That’s right guys. For News Break today, we got a new segment sponsor for News Break. It is bestchange.com. And at the end of News Break here, in this segment, we’re going to tell you a little bit more about BestChange but Welcome aboard BestChange, we are so glad to have you. So, tell them what exactly is going on with PayPal and Venmo?
JChains: Alright, so rumors are swirling and they actually sound pretty legit, that they’re going to start, you can start to buy and sell crypto through their platforms. That’s PayPal and Venmo. Now they said that they would probably host a few coins. Not really sure any other details. Really, it’s something that we know has been a long time coming. They need to kind of stay in the game or stay up to date with Cash App. I mean, what is the number? I think last year they made like $350 million in Bitcoin sales.
BitBoy: I think somewhere there.
JChains: 150 million, is that what it was?
BitBoy: Interesting you bring this up because this was actually a direct tie-in with the CoinDesk and Cointelegraph articles that came out about this, which is that PayPal is feeling the pressure from Square. Square is the company behind Cash App, Jack Dorsey CEO Twitter, Founder of Twitter, CEO of Square and they are feeling the pressure because they are really making waves. In the crypto space now, here’s where it gets interesting is that Jack Dorsey is a Bitcoin maximalist. And so Cash App is only going to have Bitcoin and now you got PayPal coming out saying that they’re going to have both. And if you didn’t know, Venmo while a lot of people think it’s like a more free alternative to PayPal, it’s owned by PayPal, they bought it a few years ago. So, it’s basically the same company. But this is huge and do you know, when they’re talking about rolling this out?
JChains: Like real soon, they were talking within the next three months. So, this has obviously been in development. So, if there’s something they’re going to do, and I’d like to see it, obviously, Ethereum, the Litecoin folks would love to see them be able to do that on those because that’s I think, probably the better payment token between that and Ethereum. So, we’ll see what, what they load up in there, but it’s huge. So, the 350 million number that I was throwing out, I believe that is the user base of Venmo. That’s why it’s a huge thing because you immediately have 350 more people that have access to buying cryptocurrency.
BitBoy: PayPal and Venmo.
BitBoy: Yeah. 350 million. That’s so many people and it’s just so crazy like you may not know this but PayPal has actually been talking about Bitcoin and cryptocurrency since 2014 and even as late as 2018 I think one of their executives said that the world wasn’t ready for Bitcoin yet and it just makes you wonder, just the timing of everything so crazy like we’re about to start this bull run, we all know it, Bitcoins probably going to be over 10 k next week. This thing is coming like we are finally here and it is exciting. And now you’re seeing all these people jumping on the bandwagon and here comes PayPal, here comes Venmo and it’s good for our space. Bring it.
JChains: Bring it on.
BitBoy: Bring it. We were here first, okay, you mother.
JChains: It’s going to be good man. Like I was looking at some things today you’re seeing some candles. My Chainlink candle was huge today which I loved it, love to see that double-digit popper
BitBoy: Well, it’s altcoin season right now. I mean it is Altcoin season right now. We’ve been talking about it forever when’s it going to happen? It is happening right now we had compound is a decentralized money token and it went 10x this week it’s in the top 20 now out of nowhere it went from 30 to $330 like 11x really, and it stayed you know right now it’s hanging tough
JChains: It’s not a pumping and dumping?
BitBoy: No. I mean we saw Kyber do like 800% or maybe it was 0,000% something like that, 1,000% then what is the other one? Theta Token did like a 900%.
JChains: Theta and T Fuel like went off too.
BitBoy: Yeah, the Theta Fuel. Yeah. So, there’s a lot of stuff popping off right now and I think Venmo and PayPal are definitely trying to take advantage of that. I mean, really PayPal, a lot of different co-founders, Elon Musk, Peter Teal all these guys are bullish on crypto. So definitely going to be cool.
But let’s take this moment to thank our sponsor BestChange.com. That’s right guys, BestChange.com is a directory of selected trusted and reliable exchanges. Their website shows you where to buy, sell, and exchange dozens of popular crypto currencies or purchase them with debit or credit cards.
JChains: Nice and The Monitor is one of the programs and protocols that they have. It’s really easy to use. You need no special knowledge or skills and it’s really got an intuitive interface and exchanging is as easy as eating some pie.
BitBoy: Oh, eating some pie. I suppose you can say baking a pie. I can’t bake a pie.
JChains: I can’t bake a pie.
BitBoy: But with over 2.4 million users per month, and a ton of great reviews left by real customer, they help you choose an exchanger for your crypto visit BestChange.com today for more information and thank you, BestChange for sponsoring News Break segment.
JChains: Thank you.
BitBoy: Thank you. All right, well let’s jump into Token Time.
8:10 TOKEN TIME
JChains Alright, man. So, for Token Time today, let’s talk about some different Bitcoin forks because I think it’s really important either you’re new to this space or you’re kind of getting really excited, you may be moving so fast. You want to make sure what you’re buying, what you’re looking at is what you should be buying and what you should be looking at right? So, you don’t want to buy, for instance if you’re trying to buy bitcoin and you hurry up and buy Bitcoin Diamond or E Bitcoin or Bitcoin Gold, what else?
BitBoy: Pizza Bitcoin I remember that one. Yeah, that was my favorite one. Bitcoin private, Bitcoin Diamond, Bitcoin gold. I’m sure, there’s a Bitcoin silver, Pizza Bitcoin or Bitcoin Pizza, one of those.
JChains: You don’t want to piss too many people off but there’s BSV, the BBC, BBD, You and me.
BitBoy: Whoa whoa whoa! Well the thing about it is more people start entering our space, some people are going to be like “Oh my gosh! Bitcoin Cash look at this, it’s a 10th of the price” or might less than that I guess probably about 20 of the price right now I think or somewhere thereabouts maybe I’m totally off but that’s not Bitcoin, people might think they’re getting a discount on Bitcoin but now of course we had Roger Ver on the show, he would tell you that is Bitcoin but the whole thing is, you’ve got to be careful when you see the word Bitcoin. There was even a scam a few years ago called Bitcoiin. You remember that one?
JChains: Oh, with the two “i”?
BitBoy: Yeah, Bitcoiin. Steven Seagal was behind that or was the face of that whole thing.
JChains: Oh, really?
BitBoy: Yeah, he got in trouble over it for sure. The SEC went after those people, I think? I don’t know if they went after him specifically, but they did go after Bitcoiin at some point or some regulator went behind them. So, when it comes to Bitcoin, you have these forks now, I learned something interesting this week so you have hard forks and then you have soft forks. Okay, so hard forks are just total change the code, you’re doing something drastically different like when Bitcoin cash forked its code, they went to bigger block sizes that had a dramatic effect on the network or whatever. But do you know what Litecoin is considered?
JChains: Is that a soft fork?
BitBoy: It is not a soft fork. It is also not a hard fork. So, this is where like forks get a little–
JChains: But Litecoin is basically just a bolt off the original Bitcoin, right?
BitBoy: Yeah, Okay, so there’s a difference between and– Look, guys, y’all know, go ahead smash nerd alert on me. We’re getting nerdy right here, okay? Nerd alert. But the thing is I am not a developer. I don’t know a lot about code, obviously. And if I did, I would probably look even nerdier than I do now. But the thing is, there’s a difference when it’s a hard fork and a soft fork, and then a strictly fork of the code. So, whatever that means that’s what Litecoin is, Litecoin took the code and forked it without forking the chain, I guess is the best way to say that. So Litecoin is not a hard fork or a soft fork, believe it or not. But here’s what Litecoin did that was so genius. They named themselves Litecoin, they didn’t call themselves Bitcoin 2.0 or Bitcoin cash or, whatever.
JChains: I feel like, and Litecoin people correct me if I’m wrong, but Litecoin could be the sex change of Bitcoin.
BitBoy: Yes. Litecoin is the Caitlyn Jenner of our crypto generation. Yes, that’s why they call him Satoshi light. Because he was chopped. Charlie, I’m sorry. That’s a joke. Okay, that’s a rumor, Charlie, I’m sure he’s… I don’t even know where to go with this. Okay.
JChains: Let’s just get back on track.
BitBoy: They had a fork in Caitlyn Jenner. Huh?
JChains: Let’s just get back on track.
BitBoy: Yeah, we’re getting we’re getting way off track. But yeah, so the whole thing is when it comes to forks when it comes to token time here, we just want to really communicate to people who are new to space like, be careful, the word Bitcoin does not make something more reputable.
JChains: Right. I think that’s the key takeaway. Just because it has the word Bitcoin in there doesn’t mean that it represents anything, when you look at CoinMarketCap, CoinGecko, CoinPaprika, anything that you’re doing your research on. Bitcoin, the number one as far as market cap, it has no relation to any of these. So just remember that.
BitBoy: Yeah, absolutely. Now also, one thing for you to remember is that we do have a website and telegram group, we’d love for you to come join, come visit our website BeardsAndBitcoins.com and get your 21 Best Practices, Best Bitcoin Practices Guide if you’re new to crypto you gotta do is just go to the website and sign up for a little pop up for an email there. And then also we have a telegram group so make sure you guys come to that t.me/BeardAndBitcoins, we are getting a lot more chats in there. So you guys come on if you want to tell us about your coin, if you want us to talk about your token, whatever it might be—you can definitely come on in there and hit us up.
JChains: You can chill but don’t send me links. We’ll delete the links, just chill.
JChains: The only link in here is in Chains’ bag.
JChains: That’s right.
BitBoy: All right, let’s Manspread.
JChains: Alright, so we are back to our favorite subject.
JChains: One of them at least, gambling, Vegas. Welcome back. Tell me all about it. How’d you do?
BitBoy: Well, I did pretty good. So, I was not having the best trip. I was down a little bit. But on the way out of the casino on Saturday morning, heading to the airport. I happen to throw 100 bucks on my little roulette number black 33 and I hit it. Hundred bucks. Boom. I’m going to be honest I put 200, I put 100 down and I lost in the second time I hit it, okay? So I won 3500 bucks on that. So that was definitely pretty good. I’ve hit some roulette numbers before, $50 and $25. That’s either my first or second time ever putting 100 on it, winning.
JChains: To me the story of the final bit on the way to the airport hitting the one like there’s no greater sweet story of Vegas than that, because you just get sucked in the whole time you’re there and on the way out, said Lady Luck saying *JChains mimics kiss sound* gives you a kiss and says “come back and visit me baby.”
BitBoy: Well, it’s good as it was at the Venetian. A few years ago, at the Venetian I lost $6,000 on the way out the airport. I was up 10 grand and our flight got canceled. And we had to go back to Vegas for an extra night and the next morning on the way out the airport trying to get back about 400 bucks I lost from the 10, I was 10k even, I lost 400 bucks. I was trying to get it back on the roulette wheel, doubling up red, doubling up red or black, whatever it was, and I lost six grand so they paid me a little bit of that back. So that was definitely a positive thing. By the way, Venetian, by far, the best hotel I’ve ever stayed in. I’ve been there eight times to Vegas. And the Venetian by far was the best.
JChains: Nice. I always like going in there to play. It’s one of those quality resort casinos that you get to go.
BitBoy: There’s two sides. There’s the Palazzo, and there’s the Venetian. It’s the same building. But, check this out, a guy that works there at the Venetian in the marketing department. He’s kind of, I guess, a casino host. He recognized me from TikTok and he gave us a grand tour.
JChains: Shut up.
BitBoy: Yeah, he recognized me as an entertainer. He took us out to dinner. We ordered appetizers or we did the whole nine yards. We really did it up there. He took us to the back rooms or we got to see like the private gambling rooms. We got to see a guy’s personal elevator who spends like, 100 million dollars in the casino every year, something crazy like that.
JChains: Cheeze the whiz.
BitBoy: Yeah, no idea who it is. But there is a guy that does that. So, he took us on the grand tour. We saw everything. It was definitely really, really, really fun.
JChains: Nice, dude. That sounds like a-
BitBoy: It was cool. Yeah, it was phenomenal. It is the first time I’ve ever been given celebrity treatment somewhere. That’s not a crypto conference.
JChains: Vegas is the place to do it, man.
BitBoy: Yeah, he pointed out when you go to Venetian, there’s two sides. But like, but when you’re there, you don’t notice the difference. But he pointed out and now I’ll never not see the difference again. On one side, it’s like old world Italian. Everything looks very old, kind of like architecture. And on the new one, it’s all like bright lights and new architecture and very modern. It’s like, I would never have noticed in a million years once you pointed out you can never not see it. But anyway, I love the Venetian for sure. We’re definitely going to go back there.
JChains: Nice. Nice. Hopefully there’ll be some conferences coming up in the next, I don’t know maybe a year? I’d go for their conference in a year.
BitBoy: The guy was trying to get some Bitcoin conferences out there. I might have to talk to some people. Venetian’s pretty pricey, though. I mean, it’s more expensive than a lot of the place, I don’t think it’s probably more expensive than Aria, which we were at a couple years ago for the World Crypto Con.
JChains: Where was it at the next year?
BitBoy: The Cosmopolitan.
JChains: That’s right. That’s right, it sucks.
BitBoy: Ain’t got a poker room like Cosmopolitan is not– like it’s a nice place. But compared to the other place in Vegas. I mean, it can’t hold a candle. It did have a secret pizza place though, which I liked.
JChains: Oh, the secret pizza place, that was great, man.
BitBoy: Yeah, I love that.
JChains: I remember. For me, that was the first time I ever got the secret treatment at the Vegas, man. That was good.
BitBoy: Yeah, it was good. So, we want to know guys, we want to know for our Twitter Poll this week, like what is your favorite way to game? I played poker and I’m going to tell you in just one second about the crazy experience it was playing during a pandemic. But we want to know from you guys, what is your favorite game to play? Is it poker? Is it slots? Is that the sportsbook? Or is it table games like blackjack, so I don’t really like blackjack a lot, but I love the other table games. So, I mean, we just start table games there. We want to know which one is your favorite this week.
JChains: Mine for sure is blackjack. When I go on cruises, man, I am sitting at the table playing blackjack from the time I wake up until the time they shut it down. I just can’t get enough of it. And that’s one of those games you can just grind, grind, grind if what you’re doing in grind all day and make a ton of dough. I mean, you can also lose it. I also really love roulette.
BitBoy: That’s my vice.
JChains: That’s my horror story too.
BitBoy: Me too. Well, I really like ultimate Texas Hold’em. It’s a table game. It’s not poker, it’s a table game. I really like that one. But then of course, my guide in the Venetian was like, “You know, that’s like the worst odds in all casinos?” I was like “I always do well at it. I feel like I have good odds” I hate blackjack. I can’t stand blackjack. I can’t sit there and play blackjack for more than like five or six hands. To me, it’s just the same thing over, it’s like automated moves like I want with some excitement where I got a chance to, I might lose everything but I might win big. And blackjack is just a 50-50 you know?
JChains: I want to get so much better at craps. But to me it’s just too much learning right now.
BitBoy: Yeah, well, I keep telling my friend, who goes to Vegas with me all the time like, we got to go get up in the morning early one day and go do that little craps class. I’ve never done it before
JChains: I feel the same way. I always say that, but then you stay up too late.
BitBoy: Yeah. Well, I’ll tell you this. It was weird out there. It was very empty. There were times on the strip in the middle of the day when there were zero people like not a single soul.
JChains: Oh, really?
JChains: D they have like the plastic barriers at the tables?
BitBoy: Okay, so at the Venetian they do not have any plastic barriers. But what’s interesting is the second day we were there; they actually made a casino rule change. So, they actually required people if you’re playing a table game or playing poker, not slots but if you’re playing casino table, or a table game or slot or– I can’t talk right now. A table game or poker, you have to wear a mask.
JChains: Oh, wow, that seems weird to wear a mask. Can’t you be like mouthing things?
BitBoy: Oh, that’s interesting. I should have done that.
JChains: Like with a microphone?
BitBoy: Dang, that’s good. I like that. I really like that.
JChains: Ace of Spades.
BitBoy: Ace of Spades is there. So, they have that now the Bellagio open their poker in the second day now poker at the Venetian was only 500 max. They were originally 4 when it first opened but they moved up to 5. Now, the Bellagio opened and it’s 6 hand max which is a much better, 6 hand we were playing 5-10 we were like really rolling in that dough out there. And it was fun. I never played 5-10 before I played a lot of 2-5, but 5-10 was like, I’ll probably never go back now. I love that game. But the poker tables had Plexiglas in between them. So, you were in a bubble.
JChains: So, it will be like you were sheltered with your table?
BitBoy: Yes. Wait, you were sheltered in your spot at the table.
JChains: Oh, okay.
BitBoy: Yeah, your spot. So, like you had a glass coming here and glass coming here and then they actually had those up for the table games for craps, for blackjack, everything in the Bellagio. But at the Bellagio, you didn’t have to wear a mask so it was kind of a trade-off like either way you can hardly hear anybody with those masks on. I wore masks most the time I was out there got some cool Falcons once in a while. Yeah it is what it is we’re about it we’re probably about to get shut down again
JChains: Are you guys spiking?
BitBoy: Yeah, they’re spiking big time right now, hospital stays are spiking. I’m at this point now with it where just like we just did in Vegas. Like Don’t let it stop you from doing anything fun, if you want to do it go do it, just be careful. Wear the mask, wash your hands. We can’t live in a bubble forever, guys.
JChains: You can’t and the smallest things will get you.
JChains: Get a little germy but be safe.
BitBoy: Get a little germy. Alright guys. Well, that is going to wrap it up for the show today. Thank you, guys, so much for watching. Don’t forget to answer our Twitter poll. We missed you guys next week. We got a bunch of huge interviews coming up on the channel in the next month or so we got Charlie Shrem on the channel. Hopefully it looks like we’re getting John McAfee on soon. We got Alex Alexandrov from Coin Payments on the show soon. So, we’ve got a lot of big interviews coming up soon. So definitely you guys are not going to want to miss that and that’s all we got. See you guys on the next one.
JChains: See you.
Thank you for listening to the Beards and Bitcoins Crypto Podcast. If you enjoyed this episode, please make sure you are subscribed on your favorite podcast platform and help us spread the word by sharing your favorite Beards and Bitcoins podcast episodes on your social media. Also, make sure to follow us on Twitter @BeardsBitcoins to participate in the weekly poll, chat and share fire memes. Oh, and don’t forget to visit our website beardsandbitcoins.com for more episodes, information, and Merch today. See you next time.
Episode 96: 350 Million People Will Be Able To Buy Bitcoin