The Pros and Cons of Cryptocurrency Investing Entrepreneur Aligned Podcast

Tiffany and Jarrod discuss the pros and cons of cryptocurrency and its merits as an asset class. 
What this episode is about: An overall summary of cryptocurrency, its positive and negative aspects and how it may redefine the future of finance. 
Welcome and Successful Sip [1:08] Introduction of the topic and an overview of cryptocurrency’s merits as an asset class, its use cases, its pros and cons, its associated risks, its opportunities and whether it will sustain its current momentum [4:19] Cryptocurrency pros and cons and a recommendation of a Tim Ferris podcast to aide in this analysis [7:26] Definition of Bitcoin, explanation of why it has value, explanation of the term “mining” in reference to it and and explanation of how and why it is a scarce good [8:59] Example using the mental image of an insect being sealed in layers of amber to explain Bitcoin ledger entries and security. Discussion of how its economic value is a result of scarcity due to security challenges [11:35] Discussion of Bitcoin as another store of value, its method of exchange and the pros and cons of its accounting method [13:16] Analysis of other cryptocurrencies such as Ethereum, which is designed to use different types of logic to allow what are called “smart contracts” for things like life insurance and property records. Do we need third party validation from the Federal Reserve and banks to agree on these types of records? [15:07] Discussion of cryptocurrency as a bearer asset and the drawbacks of instantaneous money sending. Refresher on bearer bonds as a way to illustrate that the loss of a Bitcoin “wallet” can have the same result as a bearer bond blowing out of your hand while walking down the street [16:08] Emphasis and gratitude for taking a moment to listen and learn about cryptocurrency with an open mind [18:58] People interested in more efficiency of transactions Speculators People who are curious and want to hop on the bandwagon People who are looking at price movements and very short time periods [20:04] Dialogue about cryptocurrency risks due to lack of regulation. Discussion about the vast variety of people interested in owning it and their reasons for doing so: Entrepreneur Aligned’s view of Bitcoin as a speculative asset with potential for tremendous upsides and downsides [24:49] Further discussion of the pros and cons of Bitcoin [26:17] What now? Where are we now with cryptocurrency? Discussion of possible outcomes and the idea that “money is a unit of labor that is frozen in time” and how that relates to cryptocurrency. Assertion that Bitcoin “could be our gold” in the future [32:19] Analysis of the speculative nature of investing in cryptocurrency and the idea that whatever one invests should be a small amount of their wealth, as in “the amount of money you could burn in your backyard without an emotional reaction” [36:37] Conclusion and emphasis that this podcast is not investment advice. Final thoughts on how cryptocurrency technology may create more efficient and free financial lives in the future [39:04] Connect with Entrepreneur Aligned: 
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