In this episode, I talk about how people get into FAD or PWM (people without money) markets.

For example, Bitcoin was a FAD market. In 2018, the hysteria was insane. You had people making podcasts, videos, etc….and they all fell for it. Sure, Bitcoin still exists today, but the hysteria has gone away and the voices are now silent.

I read a post on FB yesterday that someone I knew once tried creating a business for new grads. Well, if you just graduated from university, more than likely you’re in debt — therefore, you’re in a PWM market. I’m not lucky, but when I entered the ESL space, I knew that this was a billion-dollar industry with a massive opportunity to go to AR/VR in the future with an insane amount of collaborations. So, because I’m worldwide, I’m not reliant on economies that have deteriorated (Thailand and probably have the countries on planet Earth). There are economies that are surging, at the moment, and because I’m a trainer and have specific skill-sets, I attract those individuals because I have assets.

I’m in a People-With-Money market. This is something you need to consider before starting a business.

Tune in!

The Future of Technology (1/2)

It’s already been 10 years since The Great Recession of 2008.  It caused a massive lay off and it just swept the world into global panic about the future, especially the young and ambitious millennials unable to get their first employment. However, it gave way to the unconventional financial services which emerged and are disrupting the traditional financial services like crowdfunding, P2P funding and Kickstarter.  Now millennials are able to invest their capital into meaningful projects, sparking a new trend of investment like a social investment.

According to the giant audit firm, PricewaterhouseCoopers (PwC), they came up with a recent report showing what traditional financial services would need to keep up with the disruptions.  Kickstarter and Indiegogo already disrupted the traditional mortgage services and venture capitalists to invest in startups and other social enterprise projects as well as raising funds for your medical bills with Indiegogo.  By the year 2020, financial technology will be the future.

With the rise of the robo-adviser like Stashaway and Smartly, which allows its users to invest a small amount of money, you can expand your wealth and even build your investment and wealth portfolio based on the algorithms.  They are highly based on individual customisation which is the preference of the millennials and Generation Z. Those two financial technology firms are startups looking for their niche where most probably the millennials, who preferred cheaper, are in the higher income brackets based on the international survey by WEF. Also, the newly elected Malaysian government leverage the power of crowdfunding which was the P2P lending to allow millennials, or the ‘homeless generations,’ to purchase their first home. According to one Senior Vice President of J.P Morgan, he stated that the financial technology would eliminate a lot of manual work which is done by the teller clerks and the mortgage service processing clerks.

The most intriguing technology will be the blockchain. No one really knows about blockchain, which is the foundation of Bitcoin. When Satoshi published his white paper, his agenda was clear, to break off the monopoly of the centralised financial system at the Central Bank — the bank that allows rich and powerful CEOs to do as they want. 

The power of blockchain has gone up since the Bitcoin boom; and shortly after that, people wanted a piece of the pie, even the traditional banking system like J.P Morgan. They wanted to invest in blockchain just like Goldman Sachs also wanted to invest in blockchain and a platform for crypto trading where it was enough to crash the Bitcoin and other crypto prices. Luckily, that turned out to be a hoax.  Blockchain is a distributed ledger network and a decentralise network, however, bear in mind that not many distributed ledger technologies are built on ledgers or blocks like blockchain is. 

Season 3: Episode 1 – Cryptoassets – Intro Part II

Just like most people thought the plane, cars, and everything that was technologically advanced (at the time) would fail — they were wrong.  The same was with the author of this book.  He was convinced that Bitcoin would fail when it debut almost a decade ago.

Somewhere on the internet is him railing against Bitcoin and it becoming the “next big thing” because he was a skeptical trader.

Boy, was he wrong!

“Since those unenlightened days, I’ve come to realize that bitcoin — and the blockchain beneath it — is a technological advancement that has the potential to revolutionize financial services the same way email did to the post office.

If we look at an even more micro scale, everything is being replaced.  Toys R’ Us collapsed after selling everything to Amazon.  Blockbuster and other stores in respective countries had thrown in the towel to Netflix (which was another very skeptical app when it first launched).  Don’t you just seeing the changes?

The beauty of this book is that it it’s going to take you and I on a journey from the beginning of bitcoin’s perception in the ashes of the Great Financial Crisis (2008) to its role as a diversifier in a traditional investment portfolio.

Valuing cryptoassets is done unlike traditional investments; they typically do not have revenue or cash flows and thus present a conundrum for those evaluating their merits. One of the most fascinating outcomes of the blockchain revolution is how cryptoassets are disrupting the disruptors.

Never before have we seen any technology that’s as disruptive as blockchain and bitcoin.  Early in the year, Gates and Buffet took to the stand and berated how terrible Bitcoin was.  His argument was “if you buy a stake in real estate, a home, etc…that’s hard.  It’s real. You can touch it.  Bitcoin you can’t touch.”

When the author first started working in Wall Street, the Internet was something on a computer at the end of the trading desk.  Amazon, eBay, and Google did not exist — but within five years, these companies had changed the world.

He also went on to say that you would never see a once-in-a-generation type of investment opportunity like the internet, but then came blockchain, which will soon be one of the most important innovations in the history of finance.

It is changing the way we transact, distribute capital, and organize our companies.  If you’re like me and missed investing in the Internet, take advance of this, which is the biggest investment since the internet.

Introduction

Books, TV shows, and movies have been making futuristic predictions for decades, many of which were originally considered absurd.  Star Trek featured several that proved to be not so outlandish: the indispensable handheld communicators have become today’s smartphones, the personal access display device is now our tablet, and a universal translator exists, of which there are several apps to choose. In three short decades between now and the twenty-first century, million of ordinary, psychologically normal people will face an abrupt collision with the future.” – Author of the book.

I’ll leave you with that for this weekend, just so you have the opportunity to leave your mouth watering for more.

Podcast

Cryptocurrency Regulations In Thailand

According to the Bangkok Post, the Thai Security and Exchange Commission already issued regulatory guidelines for market participants in digital assets.

The regulatory was meant for regulating the digital assets and transactions to ensure unnecessary fraud and ponzi schemes. The regulatory would be expected for 10 cryptocurrency exchanges while others can be firms and brokerages. Even the initial coin offerings (ICO) aren’t being left out, too, from this guideline as well as Bitcoin, Ethereum, Bitcoin cash and Ethereum classic.

During the course of the meeting among the Thai SEC, they agreed that the digital assets and digital tokens were defined as cryptocurrencies after they came with several rounds of public hearings. They used credibility and consensus as part of their assessing criteria for a digital token and digital currency.

With the public issue of guidelines by the Thai SEC, they are expecting digital currency assets firms, brokerage, ICO issuers and other cryptocurrencies to be registered and will be assessed by SEC within 90 days. Also, the participants must register with the authority to get an approval by the Ministry of Finance when they want to conduct a digital asset business.

An ICO issuer must state clearly the type of token being issued and investment information to receive approval from the SEC. However, the ICO investment will be a cap at 3000,000 baht for retail investors or not more than 70%. Also, they are allowed to offer institutional and ultra – high – net – worth – investors with an unlimited investment amount. Furthermore, the ICO portals are required to look for at least one year of ICO with a minimum registered capital of 5 million baht.

Many governments were facing a huge problem of states’ revenue since the collapse of oil and other commodity prices. To add to the fiscal burden, the rise of digital economy, like ECommerce and Marketplaces, the world governments are looking for ways to sustain and increase their revenue to make it more sustainable as being the UN Sustainable Development Initiative.

My two cents….

It was a matter of time before this happened.  You could take one side and say that it’s to help or hurt the crypto markets here in Thailand.  Nonetheless, banks are wanting in on the pie, as well as everyone else such as governments.  Regulations are being implemented and that’s probably why Cryptomarkets are heading down the pipe….for now.

The Volatility of The Cryptocurrency Exchange Wallet (longread)

By Jiun Ting Yong

The price of Bitcoin and its other cryptocurrency competitors will plummet; and after a few weeks, the price of Bitcoin will increase. These trends are normal for people who are involved in trading Bitcoin and other alternative cryptocurrencies, unlike investors who invested in Bitcoin for its value.

The major reasons why cryptocurrency is so volatile is because of bad news (which isn’t always true) that stops people from adopting Bitcoin. Trading in Bitcoin is unlike trading in stocks because Bitcoin is volatile to bad news — just recently, the American FBI had closed a criminal organisation that stored their assets in Bitcoin that took the American FBI years to track them down in the dark internet market for their drug trade. When the FBI shutdown the Silk Road marketplace, it caused the prices of Bitcoin to plummet. Then people wondered about the trust of Bitcoin among the investors.

As the prices fluctuated based on free market forces, the bad news lead to uncertainty, which lead to traders receiving the news and end up losing a lot of money.  However, some people recognised that the drop in prices was an opportunity to buy Bitcoin at low prices, then sell it with a huge amount of money when prices are ripe for them to sell.

The second reason why Bitcoin will fall is a breach of security of cryptocurrency wallet exchanges like the recent breach of security in the Ethereum wallet exchange company that caused the prices of Ethereum drop significantly — just like the Hong Kong bitcoin exchange, Bitfinex, that created a turbulent wave of confusion. It caused many traders to panic and sell off their cryptocurrency with the right prices to minimise their risk of losses. These breaches only became a cause of concern by people who questioned the protocols. As a result, people seem to be less confident about the usage and hampered them from adopting them as a form of currency for day to day transactions. This is because Bitcoin and other cryptocurrencies were built on open source software. Therefore, the protocol allows other independent software developers to change the source code of a protocol for a cryptocurrency.

Another major reason will be the tax treatment of an authority against Bitcoin and other cryptocurrencies, which are also affected by the volatility, too. This is because the governments began declaring that investing in cryptocurrencies and Bitcoin will be considered an asset. Therefore, they are subjected to taxations and those cryptocurrencies exchange wallets, like the London based cryptocurrency exchange wallet company, Luno, was subjected to Malaysian Inland Revenue Board for tax evasion investigations. However, offshore banking hub like Switzerland is massively adopting cryptocurrency as an instrument of investment and blockchain into their financial services system by incorporating new types of investment companies like a cryptocurrency assets management firm because they aspired to become the centre of cryptocurrency investments and blockchain. This move isn’t new because Dubai, UAE and Malta were adopting blockchain technology just like their counterparts, Japan, South Korea, as well as American banks in Wall Street.

Furthermore, the volatile of cryptocurrencies in the market was caused by foreign direct investments in high inflation countries like Argentina. This is because people can use Bitcoin to offset the high inflation rate by denominating them into Argentine Peso from outside of Argentina. Therefore, funders could earn a higher yield return on their investment. Also, the Venezuelan government did denominate their own cryptocurrency known as the ‘Petro dollar’ to raise some funds for to pay for their country’s debts that drove the country into a state of chaos; because the country was on the verge of bankruptcy due to excessive wastage of state’s finances.

Overall, all of these are the causes of what’s happening and what will probably continue happening, but it doesn’t really hamper people from adopting Bitcoin and other cryptocurrencies. This is because when you look closely, many people are adopting Bitcoin and other cryptocurrencies in a slow and fast pace dating a few years back after Brexit had gone viral, there were Bitcoin ATM machines popping up in London as well as in some parts of Australia. They are on the way to becoming mainstream where it will be denominated to the USD and it is going to happen as soon as we thought! The future is exciting and filled with massive innovation.

What Is Blockchain?

Written by content writer of The Arsenio Buck Show – Jiun Ting Yong

What is blockchain?

Blockchain was a technology to power the Bitcoin back in 2008. You’re hearing about Blockchain now because Bitcoin boomed since the recession of 2008. The boom is caused by Japanese and Chinese investors. The concept is simple, but when you look deeper, it is a little bit complex.

Blockchain was built based on peer to peer network where every transaction is recorded like banking, medical, purchasing and others. Every data will be recorded, and a new block is created and added to the chain — thus giving it the name blockchain.

Unlike records that you’ve come along both online and offline, blockchain will encrypt the data so that no one can hack or steal from you. However, it can be complex each time a transaction happens, it requires to solve a complicated math problem. People who solve this problem will be rewarded with cryptocurrency through ‘mining’.

If you own a cryptocurrency, you will have a private key (a long password) as an address to the blockchain. With this key, you can withdraw your money for daily to daily expenses. However, when you lose the key, then you cannot access your money.

Information of the blockchain will be publicly available and it is decentralized. This means it doesn’t rely on single player or computer network to function. Therefore, any transaction will be available to anyone and visible to the public.

Blockchain is a public ledger

If you have Bitcoin and use it regularly, that information will make available to the public, but rest assured, the other party wouldn’t know your identity because of encryption. However, both parties know the value of the transaction.

Many people considered the blockchain as an alternative to the traditional banking and middlemen for money transfer like Moneygram and Western Union. With the transaction verifiable by blockchain that would disrupt middlemen like Western Union and Moneygram as well as the banking institution.

This is very interesting to say at the very minimum.  First, I want to say BIG THANKS to my content writer for writing this, and it seems extremely complex, too.  If the security about blockchain can become even more secured, that way your identity or wallet isn’t jeopardize because of the exposure, there’s an excellent chance that banks will go away.

Further News on Blockchain – Ethereum #1…According To China.

China’s ministry of industry and Information Technology released its public blockchain ratings, ranking various blockchain projects like Ethereum in the global cryptocurrency sector based on three criteria: technology, application, and innovation.

Cryptocurrency Podcast #1 – Litecoin & Smaller Market Coins To Invest In + Crypto-guide For Beginners

As promised, I’ve brought Steve Pipe back on for our second podcast, but our first podcast in Cryptocurrency.

As of late, Crypto has been extremely turbulent and fluctuating like crazy.  I want to deep-dive and ask Steve some questions about Crypto going forward before getting into what’s in the title.  Tune in, everyone!

By the way, I’ll try keeping it short.

Q:  The Crypto market is fluctuating and all of these “investors in wallstreet” are saying to stay away.  Are they scared?

A: (Arsenio) – Wallstreet is scared because now they can’t keep it all to themselves anymore.  It’s easier for millennials to make money now and they’re not happy about it, being that they’re from a generation that loved hoarding all the wealth.

(Steve) – people are pulling out and some are investing heavily.  This is what causes large fluctuations.

Q: Walk us through on how to start an account.

A: (In the podcast)

 

I decided that I didn’t want to make an extensive blog on what he talked about because it would be one hell of  transcription, so tune in below instead!

Podcast Update (Slotting In Crytocurrency Investor & A Trainer)

 

After chopping it up on a sweltering day outside of a delicious delicious vegan restaurant in Bangkok featuring a gorgeous Brazilian girl, a rooster, and so many passerbys – with Steve Pipe – I had a huge idea.

Now, with the amount of directions I’m getting shoved in at the moment and the potential number of excellent companies coming on board, I will need to find a way to not only slot Steve Pipe, A.K.A Muay Thai Phenom fighter in, but also my main man Rich Cohen.

I’m trying to bring as much great content to all of you out there so you guys can learn, grow and earn.  Cryptocurrency, which has been making shockwaves since last year, is the talk of the town.  Sitting across from Steve this very afternoon and hearing him chat about excited me.  So many people, including my African Warrior Colleague, has been asking me about it quite a bit.  I’ve been contemplating in doing it for a while…..of course another colleague mention it probably 4-5 months ago, but I never got into it.

If you’re in it for the short-term or long-term, I’ll be doing a set schedule every Thursday (twice a month) with Steve with all the latest cryptocurrency news, what to do, and what not to do.  I’m ecstatic!

Be sure to follow me on my podcast and down below are the two recent podcast interviews I’ve done thus far.

Interviewee #6: Steve Pipe on Muay Thai & Cryptocurrency

I went to Benjakiti Park right outside Asoke Station, which is a BTS skytrain stop here in Bangkok, and there was a meet-up of a lot of people for a community workout.

This was one of the very first days, which then turned into a many of days, where I just rebelled against going into work early – only to make the same salary again….something I’ve been doing far too long.

I came across this guy – Steve.  He’s a kiwi (for those Americans who don’t know, he’s from New Zealand), and within the matter of what seemed like seconds, we were talking about the universe, overcoming the odds, and we exchanged details almost immediately.

During a nap sometime last week, I woke up and told myself to ask the CEO of The Lab, Rich Cohen, for a podcast interview.  A couple days later, I did my first ever interview and it was fascinating to say the least.  On that same day, I asked my main man, Steve Pipe, for an interview – which was also a big success.

So here I am today giving you ANOTHER podcast interview!

Get in touch with Steven Pipe

 

Links:

 

 

Things we discussed:

  • What was his job in New Zealand before his move to Australia?
  • Muay Thai in Bangkok and how he seized the opportunity.
  • Income earning and teaching, as well as sharing about his training and working in The Lab.
  • Personal development, goal setting and visualization.
  • Fear of fighting and winning the match.
  • Differences between boxing and Muay Thai.
  • What kind of mental grit there is in Muay Thai.
  • The monster opponent.
  • Mentality before the biggest fight of his life.
  • What’s Steve’s training regime.
  • How to diet as a Muay Thai fighter.
  • Introduction to Crypto and how he got started.
  • Blockchain technology.
  • Alternative cryptos and how to win.
  • Wallet exchanges and crashes in the cryptomarket.
  • Strategy to earn some quick return in investments.
  • How much he has made from investing in Cryptocurrency.
  • Negative news on Bitcoin and cryptocurrency investment.
  • Sharing about how to develop cryptocurrency investment strategy, research, learn about the projects and learn about the system.
  • Main goals and plans.
  • Upcoming book.

Podcast

 

Thank you for listening!

 

Thank you so much for tuning in!

 

Links:

Twitter: https://twitter.com/arseniobuckshow?lang=en