Are you curious what question I get asked most these days is? “Krisstina, what do you think of Cryptocurrency?” 6 months ago I was rarely asked this question.
You’d have to live under a rock to not know that Cryptocurrency, especially Bitcoin, has been exploding. That, had you purchased one coin a year ago at $3000, you’d see that investment being worth about $40K today. So, where historically Bitcoin and cryptocurrency has been something we’ve known exists, it’s seemed to be of little consequence so we paid no attention to it. Well, it now has our attention!
Why has Crypto, out of nowhere it seems, skyrocketed in price and therefore awareness?
There are many complex reasons that are above my pay grade. To sum those explanations up into one ‘at the end of the day’ reason is that major institutional investors with millions and billions of dollars, who have never before invested in the blockchain, are now moving their fiat currency (government-backed) to this new land of opportunity. The sentiment has become, “if those smart cookies are moving their money there, well, maybe I should too.”
What is cryptocurrency in a nutshell and is it safe?
It is a newer way of decentralizing our financial system that allows for full transparency. “Decentralized” meaning there is no central authority that manages the records or has any say in the network. The government-controlled US dollar is reaching record highs of inflation and devaluation. Old forms of retirement funds and investments are becoming less and less reliable as a way of saving for your future.
So, for those who see the current financial system as fragile due to the current state of affairs (printing dollars like monopoly money), crypto is fast becoming the new marketplace to transact and store money (among many other cool things).
As a result, it’s becoming easier and easier to transact using a token like bitcoin. Payment processors such as Square’s Cashapp and Paypal give the option to buy and sell bitcoin in their apps. These bigger institutions are starting to recognize that cryptocurrency is here to stay and they don’t want to miss the boat.
Blockchain technology is considered radically disruptive in that it has the capability to transform every trust-based interaction of our lives, from financial services to identity, from health care to our election system. There are endless possibilities for the framework that cryptocurrency is built around. So, blockchain technologies are considered highly disruptive and expected to radically change life as we know it. Like trying to remember the day pre-internet, there will be a day in the not so far away future where we’ll try to remember life before cryptocurrency.
What about cryptocurrency as an investment?
Cryptocurrency may become a leading place to steer investment dollars. If you ask my Crypto-genius friends they wholeheartedly believe that the BlockChain and Cryptocurrency IS the future. It’s just a matter of time. And where it was believed to be a way out, it’s now believed that the time is now.
What is the difference between Blockchain and Cryptocurrency?
This was one of my first questions when I was trying to understand the basics of this new landscape.. The two terms were often conflated and used interchangeably which caused me to think they were the same thing. One doesn’t really exist without the other, but they are different. To over-simplify, think of Cryptocurrency as “virtual money”. It’s considered a digital asset that functions as a medium of exchange (like cash in digital form). The “technology” behind the cryptocurrencies are called Blockchains — which serve as a shared ledger that records all transactions and is controlled by a global network of computers (not people).
New decentralized “solutions” are being built using the blockchain to give more freedom and privacy to those who value these two things. For example, if you wish to use a search engine to post your information and/or search information and not be censored, retargeted, or see Ad-based and/or Google censored rankings, you can find a blockchain-based startup called Presearch. It’s a decentralized search engine in direct competition with Google. This is an early-stage startup so who knows. But for me, it’s something I’m curious about because I for one am sick of Google monitoring my every move. And, I can’t imagine I’m the only one.
Okay. That’s my download on Cryptocurrency. I hope that made some semblance of sense! If so, and you’re now thinking “what next…”
Here’s what next:
I’d like to introduce you to my good friend and Crypto-coach, Boris Peysakhov. He’s been my Crypto guru, mentor, teacher, and advisor. I’ve put six-figures into Crypto so far this year (yes 2021) with the guidance of Boris. And, so far so good! Thank you Boris <3.
After working with and coaching me (and a few others) he’s put together a Beginner’s guide to Cryptocurrency. It will teach you everything you need to know to get you comfortable with and acclimated to the Crypto world. You’ll be able to meet friends out for dinner and sound like you know what you’re talking about! 🙂 And, you’ll get Boris’ allocation spreadsheet as a guide to help you place your first investment — that I have no doubt you’ll want to do after watching his program. Even if it’s just $100, you’ll finish knowing the basics and be able to say that you made your first investment into Cryptocurrency.
We talk about all things investing in this episode such as
* What is Cryptocurrency
* What is BlockChain Technology
* Why To Invest In Digital Currency
* Fraud Happening With Traditional Retirement Funds
* Taking Back Sovereignty Of Our Retirement
* What Other Applications The Technology Is Being Used For
* Why Gold & Silver Are A Great Investment As Well
PS: Boris is hosting a Campus Lab for all Campus Members on February 22nd, at 3:00 pm CST. Mark your calendars. We will be sending more information out regarding the lab later this week. To attend, you’ll need to make sure you are a Campus Member. Join for just $1 today!
This transcription was made by using Otter.ai so it is not 100% accurate.
Krisstina Wise [0:00]
Hi and welcome back. In this episode I talk with Forrest pastukhov. Boris is the owner of the alternative strategy a cryptocurrency and blockchain research and investment firm. In 2017, Boris left Wall Street and the traditional investment space to focus on the blockchain cryptocurrency and other alternative investments like gold and silver. For us is my personal crypto coach and advisor. As a blockchain beginner. I’m learning the basics of investing in cryptocurrencies by working with Boris, since working with him, I’ve invested a good amount of my investment dollars into crypto. I must admit I’ll be it a little scary. It’s a lot of fun. And with Boris’s help, I’m excited to report that my returns so far are seriously outperforming my other assets. In this episode, you’ll listen in on the asking to beginners beginner questions like what is cryptocurrency? What is blockchain technology? Why is it a good time to invest in digital currency. We also talk about the fraud that’s happening on Wall Street these days, as well as the idea of taking back our financial sovereignty and freedom and being in more control of our over our future self retirement. We discuss what other applications these types of blockchain blockchain technologies are being used for. And we even chat a little bit about gold and silver. So if you are new to the cryptocurrency space and wish to learn the basics, you’ll want to listen in, please enjoy my conversation with Boris, pitch shaqab. Boris, welcome to the Wealthy Wellthy podcast.
Oh, my goodness, we’re gonna have so much fun today. So for everybody listening, we know each other, we were introduced through our mutual friends, Lee and Ani, and what a great day that I got to meet you. And so you all knew each other from New York City. And so to get started, I know like originally, you’re from Russia, and you have quite a history. So for everyone listening before we say what you do, let’s learn who you are. And tell a little story about Boris.
Boris Peysakhov [1:57]
Sure. Well, my family immigrated from a small country called Azerbaijan, which used to be part of the Soviet Union when I was 10 years old, so 1992. And we moved to San Francisco and then migrated to Boston, which is where I went to middle school, high school, college. And after college, I moved to New York to work in finance, banking, commercial real estate investments, where I spent about 14 years in that space. And here I am now. And everything that I’ve kind of learned throughout that time with banking and finance has kind of brought me here. I’m really grateful for it. And it’s allowed me to understand really well what I do now, because the economy, global economy, macro economics. So that’s how I got here,
Krisstina Wise [2:48]
in short, and location wise here in Austin from Manhattan.
Yes. Excellent. Excellent. And so what what were you doing when you were in finance in in Manhattan? What did you do? What was that background? What were you doing like on a day to day basis.
Boris Peysakhov [3:06]
So throughout the 14 year period, I’ve had many different positions. I started as a financial analyst at a subsidiary of Doshi post bank, we worked in the commercial real estate lending department where we finance commercial real estate projects for acquisition and development all over the country, a minimum of $25 million and up and while I was there, my team finance about $2 billion in a matter of three and a half years. So that was my first job. But then I worked in way and worked at a private equity fund. That owned quite a bit of commercial real estate and Class A office buildings in Manhattan, I was a broker for them, doing office leasing space and investment sales. And from there on, I went out and started my own consulting company where I worked with high net worth. Investors helped them identify investment properties all over the world. Hotels, office buildings life or development, multifamily properties, and on and on. And as I was doing all of that, I’ve kind of my own personal interests aside from real estate, I’ve always been finance and macro economics and kind of what’s going on with the dollar was happening with the central bank. So what’s happening with our economy here locally and globally? That’s led me to do a lot of research on different types of investments from real estate to gold and silver and eventually when cryptocurrencies in the digital space in the Bitcoin came about, I was very lucky to get involved in that and about what it was about 2016 and that’s how I ended up here.
Krisstina Wise [4:50]
I love it. Well, for everybody listening Boris is my cryptocurrency coach because that’s where I’m going next is you know, as a money coach, and as educator and an investor myself, and someone very focused on net worth and building my net worth Empire. I believe crypto is the next place to go. So I’m learning and studying and I’m working with Boris to teach me all the ins and outs and I’m very much a beginner and nervous about this new, this new venture that I plan to, you know, move into. That’s where I thought as I’m learning and growing and moving into this new space, I thought my listeners might want to tag along a little bit in this learning journey. So that’s why we’re having this conversation today. So let’s just let’s just chat a little bit from a very much beginner naivete standpoint. What is cryptocurrency?
Boris Peysakhov [5:48]
So cryptocurrency, when people refer to first loan, most people refer to cryptocurrency most people talk about Bitcoin. And that’s not the right way to refer to cryptocurrencies, because there are over six books, there are over 6000 blockchain projects out there, and probably out of those 6000 or 10 different types of cryptocurrencies, which means that there are projects that are built on a blockchain and I’ll talk about what that is a little bit later, that have the capacity to allow us to transact with one another peer to peer and can be used as actual currency. And someone can also be used as store value of siphoned currency. So why don’t why kind of give you a, a little bit of a an understanding for your viewers who are not familiar with Bitcoin is because Bitcoin is the king of cryptocurrency as far as anyone’s concerned? The cryptocurrency space right now is about 350 billion, and Bitcoin controls about 62% of that market share. So the entire market, fortunately, and unfortunately, revolves around Bitcoin. So if Bitcoin goes up, the market typically reacts with a direction that follows Bitcoin, at least in a big picture. If Bitcoin goes down, same thing. So Bitcoin is a new form of digital money and a store of value. It was built on a highly secure and highly intelligent piece of software called the blockchain. And the blockchain is something is basically a software that utilizes cryptography, which is a method by the CIA in the early 50s, or 60s. It’s highly secure. Bitcoin has never been hacked by anyone. There are rumors out there and people say, well, hasn’t Bitcoin been hacked? Because the media has reported on it. Bitcoin itself has never been hacked, the exchanges some of the exchanges that store and process Bitcoin happened and if you store your Bitcoin on an exchange that’s not reputable isn’t secure, then certainly can use it can lose it. I call Bitcoin money 2.0 because it’s what it is, it’s why don’t I kind of talk about some of the attributes of Bitcoin and what really makes it special compared to what we have right now, which is our Fiat system. It’s fully decentralized, completely peer to peer, and there are no intermediaries that are needed to to transact for you and I, which means no bank. So you and I, you can be in a small country in Africa, as long as you have an internet connection, and I can be in New York City or an Austin, and you and I can transact any day of the week. There are no banking hours, no business hours, no holidays, Bitcoin is available 20 473 65. And the costs for transacting are a fraction compared to what it is to use the swift system for banking or PayPal or anything else. It’s open and transparent, is borderless, which makes it global, and it’s not tied to any specific country or economy and there’s never anything, it’s existed anywhere in the history of our modern economy that’s been global, where people can use the same exact currency in different parts of the world. So being on the same level, really, it’s amazing. Each Bitcoin is divisible into 100 million pieces called satoshis. So once Bitcoin becomes more and more popular, it’s going to be much easier to transact with it. It can never be confiscated, as long as it’s in your possession, which is, you know, you and I’ve talked about sovereignty and how that’s very, very important to us. We work hard, we pay our taxes, and we want to be able to have control of our money. We don’t want anyone to be able to tell us what to do with our money, how we can and can’t spend it, and most importantly, when and when we can’t spend it. I want to be able to transact in a Sunday afternoon or Without having to wait for my transaction to clear Monday. And as long as I’m not doing anything illegal or hurting anybody, I don’t think anyone should tell me how to use my own money. And most important with regards to Bitcoin is that it’s a deflationary asset, the way it’s designed versus an inflationary asset, and I can go into that. So an inflationary asset is something that can be created in infinite amounts. So for example, a US dollar is an inflationary asset. By his definition, it has no ceiling, no cap.
In fact, you know what, one of the things that’s happened, a lot of people may or may not know this, but we’ve printed more money in the last six months the US government than we have in the last 100 years. And that has significantly further devalued our currency, I mean, the dollar has lost over 90% of its value, purchasing power in the last 100 years. So what $1 can buy 100 years from now is completely different than it is today can’t buy anywhere close to that. Bitcoin operates the other way around, because Bitcoin has a cap amount that can ever be created. And that means that that amount is 21 million. It’s written in a protocol, it can never be changed or altered unless the majority of the users and miners and developers that revolve around it, which is millions at this point, although and that’s not going to happen. So it’s super stable. We, for example, we have no idea how many dollars are in circulation at this particular moment. We don’t know how much in dollars are going to be created this week, this month, this year, the Federal Reserve tells us but we really don’t, there’s no way for us to audit the balance sheet, or to see what’s happening. We don’t know how many dollars are going to be created in a year from now, five years from now 10 years from now 100 years from now, with Bitcoin, we know all of that to the teeth of the plenty. We know that 900 Bitcoin are added into separate circulation every single day, we know that the last Bitcoin will have been added into circulation by 2140. So when you have all this information, it makes the currency much more stable, much more predictable. And even though Bitcoin has been quite volatile since its inception, 10 years ago, it is in its infancy, and we’re seeing it stabilized as more and more major funds, institutions come in and invest billions and billions and billions of dollars into it continuously. So that’s kind of my brief description of what Bitcoin is.
Krisstina Wise [12:43]
So the way you’ve described it, to me, it’s um, there’s Bitcoin but as far as the cryptocurrencies themselves, there’s, there’s different functions. One is the ability to transact meaning it’s a it’s a currency, and it’s instead of trading dollar for dollar, we’re trading coin for coin, and we’re buying through the exchange of coins, basically, right? The second thing is that it’s an investment that can go up in value so that you can actually buy coins of a Bitcoin or other types. And if they go up in value, you can sell those and, and cash in on them. So that’s two and then three, is that they, they really aren’t, what did you call them? Are they like assets, where you can buy different, not just the coins themselves that can appreciate it that you could sell, but there’s actually companies that you can invest in that they’re kind of like they have their own shares, if you will, you can buy those tokens. So instead of shares it’s tokens. So you really can do the same thing that we can do kind of let’s say, here in the real world, if we’re buying stocks at companies, or we’re transacting dollar from dollar, maybe we’re buying things or maybe you know, we invest in, you know, in the future value of the currency, that everything that exact same things possible on the blockchain, right?
Boris Peysakhov [14:10]
Pretty much. Yeah. And it’s becoming easier and easier to use. on a monthly basis, as more and more applications are coming up more and more different exchanges or apps on your phone or on your computer. This This field is literally evolving by the minute.
Krisstina Wise [14:29]
So describe, maybe choose maybe, let’s say, three to five companies whose tokens you could buy, for example, as an investment, like what’s an example of a crypto company, a blockchain company of what they might do and why you might want to invest in their tokens.
Boris Peysakhov [14:46]
Yeah, so there, like I said, there are over 6000 different projects out there. And just like with the.com, boom, probably 85 or more percent of those companies will not succeed. Just how the businesses, but the other 15, give or take percent will go on to revolutionize the way how we do business just like the internet, just like Google has. Amazon has Facebook and on and on and on and on. There are a multitude of projects. Many of them are funny and silly, and many of them are amazing. For example, one of my favorite ones is iosd. It’s a company that allows you to move voting onto a blockchain. And we, you know, a lot of us have concerns about the viability of voting today, how much corruption there is, and how much rigging there is. This, this, this program basically completely takes care of all those concerns. That’s one project. Um, there are defi apps, which are becoming really, really popular right now. And it’s kind of in the boom in the last six or so months. What’s d phi d phi stands for decentralized finance. So individuals can go and deposit their Bitcoin on an exchange or a platform app, and they can actually earn interest on their money. And their what they’re doing is they’re parking their cryptocurrencies in Bitcoin or aetherium, whatever it is, whatever that app is looking for, and that app goes up and lends that money, it gives them a piece. So that’s one of them. There’s a company called Celsius, which is one of my favorite companies. They’re basically cryptocurrency bank, and also a wallet. So I keep quite a bit of my cryptocurrencies on Celsius, and I make 5% a year, and I can borrow against my portfolio. at any minute, I can probably take out a loan in under 120 seconds anytime I want, with lower interest rates than most conventional lenders. And when I’m not using my money, it’s sitting there safely, a company that’s done over a billion dollars in transactions in the last 15 months, and has reputable owners and I get to earn interest. Also, you know, Celsius has many different options. They serve many different types of cryptocurrencies, and something called stable coins, for example, what an individual can do, instead of having their US dollar sit in their bank of america or JP Morgan bank account right now, and lose money due to inflation, they can actually go and transfer that money into something called usdc, which is USD coin, which is a mimic that follows and mirrors US dollar, the US dollar, but with Celsius, they can make like 50% a year on that money. Where else in this world can you make 50% on your currency right now? So there are crypto banks out there, they’re coming up with different projects, there are decentralized streaming services that basically mimic some of what YouTube does. Except there is no there are no restrictions. But there there are, but they’re not depending on the protocol. There is no there are no issues with freedom, freedom of speech and freedom of expression. There are so many different projects coming up with there. Yeah.
Krisstina Wise [18:14]
So it’s almost as though our real world is just going to move over to this blockchain world that I mean, like you said, it will completely change the way we bank the way we do business, who we how we transact who we transact with.
Boris Peysakhov [18:28]
Yeah, absolutely. It’s going to I think, within the next 10 to 15 years, once blockchain technology really becomes more and more applicable, and more integrated into our society, it’s going to change a lot. I mean, my goal, and I talked about this with many of my friends is, I would love to see the Internal Revenue Service be put on a blockchain because the blockchain is the most transparent ledger, like an accounting spreadsheet that there is, any citizen can go or an individual in the world can go onto the blockchain and verify any single transaction any minute of the day. And they may not know who the individuals are, that are transacting, but they can see the code. And if they every individual has their own address. Basically, a blockchain that’s how the blockchain works has its own address, which is a long, long set of letters and numbers. It’s a it’s like a code. And, for example, if I know your code, and you know, Michael, you and I can go and verify our transaction. So with regards to the blockchain and IRS, we can really keep them accountable as to where every single one of our pennies our tax dollars, goes, which project when, to whom, why, and that’s going to really, really incentivize us to pay taxes and my feeling is that the result will be in us having to pay less taxes because we know what every single penny is And everything will be accounted for.
Krisstina Wise [20:03]
Yeah, I mean, when things are transparent, it radically changes things. Right. So I think that’s what you’re saying one of the beauties of the blockchain is is completely transparent. I mean, you can’t hide shit. No, you can’t you can’t be in a kind of slipping the cronies the the money back door.
Boris Peysakhov [20:21]
Yeah. And you know, the one before Bitcoin first came out the mainstream media and all the banks are like well, Bitcoin is what is used for, you know, underground and shady transactions because it can find fun, terror and on and on and on. There is no currency out there that’s funded more terror, more drug trade and more shady activity than in the US dollar. And in fact, the furthers that the opposite is true for Bitcoin and cryptocurrencies. There are private cryptocurrencies out there that can’t be tracked. There’ll be a market for those. But Bitcoin and many of the main cryptocurrencies themselves are fully transparent. And you, you can’t perform any legal illegal activity and expect to get away with it.
Krisstina Wise [21:10]
So let’s talk a little bit about when you and I met last, and, you know, I was just sharing with you my balance sheet and, and you know, where my investments lie, and you were saying, you know, what I would like to see you Christina, is that, that big percentage of your, your pie, that’s real estate and some of these alternative investments, I’d like to, first we need to have at least a small piece of the pie in kryptos. But I’d like to see that become a much bigger percentage. Why? So tell me why, like, what is it about, let’s say more legacy? investments, like real estate, or stocks? Or, you know, or any number of things? What is it? Why do you think it? Why are you moving your money out of more of those types of investments into cryptocurrency or into the blockchain? Sure, it’s
Boris Peysakhov [21:55]
a good question. Well, number one, it has a lot to do with the fact of how much money the government is printing, which causes significant inflation. I mean, there’s a gentleman by the name of Michael sailor who is a CEO of MicroStrategy, is at $1.2 billion company. And he’s been all over the digital crypto news in the last several weeks, because what he did is he moved 520 plus million of the 500 million in cash into bitcoin. And he did it because he ran the numbers and realized that the last several years, we’ve had an inflation rate of seven to 10%. So he’s sitting there and saying, I have $500 million sitting in my bank account in cash. And I’m losing between seven to 10%, which said 10% a year, that’s $50 million a year, he’s sitting Cody, I’m sitting in a melting ice cube. And with what’s happening right now, with regards to printing, unemployment numbers that are going to be close to Great Depression by the end of this year. decreases in revenue in all the different companies out there significant decreases, we’re going to be going into a place where inflation is going to really ramp up and it’s probably going to be closer to 20% in years to come. Which means that the money that you have sitting in your legacy assets in your dollars are going to be decreasing, the value is gonna be decreasing by 20%. So the $100,000 or $100 million, that you have, that you say $100,000 you have in your bank account is going to have the purchasing power of $80,000 by the end of next year, or highly likely. The same thing with real estate, you can purchase a piece of property for a million dollars. And let’s say that best case scenario, it goes up 10% next year in terms of value. Sure, but with a deflation, when you put that in, if you’re going to lose 20% of the value in the dollar, you just lost 20% so at the end the day your net losses 10% versus with cryptocurrencies and also golden silver is another one that I talked about. And I’m a big fan of I’m not just a cryptocurrency guy, I have a tremendous amount of respect for golden silver as well. Historically, when the markets shake, when there’s uncertainty when there’s inflation when there are collapses, and when there are high numbers of unemployment, intelligent institutional, and non institutional, high net worth investors flocked to assets that have been stable for years and have shown stability. Golden silver has been around for 1000s of years, and have always been used as insurance into that our currency has to be backed by gold until 1972. So many investors are going to flock to gold and silver. But now there’s another asset class that has only been around for 10 years, but it’s outperformed every single asset class However, I think I could probably use that term. And you could probably look at those numbers and confirm that. I mean, Bitcoin came into existence approximately 10 and a half years ago, 10 years ago, when it first came into existence, the price of a Bitcoin was a fraction of a penny. Today, as you and I speak right now, the price of bitcoin is around 11,500. And because there’s a finite amount, and seems like the demand is going up exponentially, year over year, on an institutional side, on the retail side, and the amount that can be created is fixed. You can only see that it is deflationary, meaning the value can only go up as long as there’s demand for it. And we have no reason to believe that it won’t be any demand for it.
Unknown Speaker [25:48]
Got it. So
Unknown Speaker [25:49]
Boris Peysakhov [25:50]
So the numbers are, you know, the numbers when you compare it to make in 10% a year in real estate in terms of appreciation, or even cash flow. They don’t even compare, really, I mean, they don’t, and I’m, I used to be a real estate guy for the longest time. For me, if you ask me four or five years ago, Boris, what’s the best investment I can buy? I would say go buy a multi family property, a multi unit property, collect rent on it, you know, collect appreciation and appreciation and all that stuff. Beautiful today. Real estate is not even an option for me. I think that within 24 months from now, when we’ve hit real inflation, and the unemployment numbers are really realized as to what they are. I mean, look at it this way. One third of Americans over 32% of Americans, Mr. mortgage payment in July, these are real statistics. What does that tell you about where we’re heading. So if you can use those numbers to really see where the breadcrumbs are leaving, leading, you go into alternative investments. And there are really two sets about tournament investments, as far as I’m concerned that gold and silver and our cryptocurrency and then it’s up to you to do your research to see what percentage of your portfolio you want to allocate to each one of these two pockets.
Krisstina Wise [27:09]
Unknown Speaker [27:10]
Krisstina Wise [27:10]
let’s shift it just a tad just to share a little bit more what’s going on, you know, in the marketplace that a lot of people are probably not aware of just what is what are you seeing you’re you’ve shared a little bit, but just with globally. So I mean, money is being printed? Like it’s never been printed before unemployment numbers at all, are at all time highs. And what does that what does that impact in? What do you see happening in the economy? I know, you’re you’re a little bit of an economist that way?
Boris Peysakhov [27:42]
Um, I mean, it really shifts the macroeconomics, you know, if unemployment numbers are rising, that is a reflection of how businesses are doing. I mean, look how many businesses have closed down since COVID, not just in the United States, but globally. Huge amount, you know, 50 plus percent in some areas. And one of the reasons is because these businesses are just not having the revenue to be able to support their cost of operations, whether it’s rent or debt, or whatever it is, look at our stock market. How interesting is it that the stock market value wise, is it the same place it was before COVID. And many of those companies don’t exist. And many of those companies in terms of revenues are down significantly. How is that happening? Well, it’s because companies are using their bailout money to go out and purchase their own stock to prop up the value of the stock. So it’s a very, very fictitious economy. And this is happening, not just the United States, it’s happening in Japan, it’s happening in Germany is happening in Italy is happening in Spain. It’s happening really everywhere. And as unemployment numbers keeping rising, these countries have no In my opinion, where I see all this going is, is going to basic universal income. And not just my opinion, but the opinion and many other individuals out there. I mean, China just this week announced that there are a lot they are launching an app that is going to be basically a basic universal income app. What is basic universal income. For those people who don’t know, it’s basically a check or deposit in a particular account that you get every single month or every single two weeks, because when a large percentage of your populace is unemployed, that’s very bad, because that can cause all sorts of different disorders, right, in terms of violence, insert, insert now in terms of you understand what I’m talking about. So the only way to keep the public Calm, is to keep feeding them money so that they’re not starving. So they’re not revolting in the streets. So they’re, you know, they’re not being they’re not, the crime isn’t going up and violence isn’t going up, etc. And while that while a lot of the public is happy with that what it does is actually takes a sovereignty away from the public. We don’t know this, but the way I see it, and many other people see this going is united states and most major countries apply basic universal income. But that comes with conditions. And those conditions are a particular type of a credit score or social credit score. If they want you to do something, if you want me to go get a vaccine that you may not want to get or do something that you may not do, you simply won’t get the deposit, you simply won’t qualify for assistance. That’s where I see it going. And there is really not much of a choice that the global economies have in terms of their Fiat systems, the banks are slowly fading. And one of the reasons why I’ve been speaking about cryptocurrencies gold and silver and alternative investments with my friends and family members and people in my communities, because right now I see the largest shift of wealth happening globally, where the central banks are not doing very well, the major banks are definitely not doing very well. And the currencies are being devalued at a rate that they’ve never seen before. And right now, the individuals who are positioned well, and leave the legacy system, at least that’s my opinion, and go into the new systems. cryptocurrencies, even gold and silver, they can actually build wealth and come out on top of what’s about to happen versus gold down with a sinking ship.
Krisstina Wise [31:59]
All right, yes, thank you. This
is all this information that you’ve given me is what’s really spurred me to, you know, really get serious about crypto and start doing my knowledge acquisition and start to move this direction. And, anyway, let’s talk about so thank you. Just a little bit more on that. Talk about some of the corruption that is happening, like you’ve sent me a lot of videos that just show what’s happening, you know, a lot of people have their retirements and their future set up and 401, K’s and these retirement vehicles and IRAs and they think that that’s the safe place to have the money and, and when there’s all sorts of nastiness that’s happening behind the scenes.
Boris Peysakhov [32:43]
Yeah. You know, the major financial institutions. What you’re referring to with regards to corruption, there’s a lot but the particular is, I think it was a week ago or two weeks ago, JP Morgan. There was a decision to find JP Morgan, it was a billion dollar fine. For securities fraud. They were basically placing trades, to manipulate different types of trades, particularly gold and silver, but never executed those trades, which is illegal. And they’ve done this for over a decade. And this is probably one of the main reasons why the price of gold and silver has is where it is today, actually the price of golden silver. Not just in my opinion, but the opinion of many well respected economists, it should be significantly exponentially higher than what it is today, because the value of it, that’s where it is. But these companies have been manipulating the price and making money off of it. So with regards to corruption, JP Morgan was fined $2 billion. It is estimated that they’ve profited between 20 and 30 billion on this. And why they while they did this, they actually accumulated physical precious metals in their vaults. And by the time all is said and done, they’ll probably profit over a trillion dollars. And that’s just an estimation for a billion dollar fine. And these companies are managing your 401 K’s or IRAs and our quote unquote, financial advisors to the people that have been misinformed about what your 401k is. I mean, there are financial advisors out there who are very intelligent, whom I respect, who actually understand inflation and deflation and are able to position their clients money in a very effective portfolio that will make them money. But the majority of the financial advisors out there and it’s not their fault. They are educated by these institutions, and they have a limited set of tools. But they can only offer to their clients or these phones that make them four or 5% a year. And then the fees are taken out, and they have to pay taxes are not toxic in the year. And with the inflation and the loss of their currencies. The clients, most of the people with their 401, KS and IRAs are actually losing money in terms of value in terms of buying power, and annual basis. So I’ve been teaching a lot of my friends and family members to you know, what I did, at least in they’ve been mimicking my my actions. And what I’ve done is I’ve liquidated all my retirement accounts on my 401, K’s, all my Roth IRAs, and all that. And good thing right now is just the Coronavirus of the penalty fees for liquidating early had been waived, at least as far as I know. And even if they are, it’s still worth it, and whatever the taxes that you have to pay on your gains is still worth it. And what I’ve done is I’ve repositioned all that money into cryptocurrencies and gold and silver, because that’s what is actually going to make you money in the next, you know, three to five years or 10 years, significantly more money than you were making these accounts.
Krisstina Wise [36:13]
Yeah, and, you know, I’ve never been a fan of more of these traditional investments anymore anyway, for a myriad of reasons. But another, just because of the fees, and by the end of the day, you’re not going to have enough money at your loss, it’s just with with inflation with these with taxes, and the advisors are making money, whether or not you make money. So there’s any number of reasons though, the one of the despite that, I don’t recommend these types of vehicles, because what it causes us to be we abdicate our money with this false belief that oh, you know, I do this 401k my retirement, my future self will be taken care of, without ever calculating the numbers without seeing how much money you’re actually making. All of the returns are usually inflated, you know, based on what the reporting because they can report all sorts of nonsense, that’s not the true return. And, and it doesn’t take out the fees and these other, you know, other things that actually really affect those numbers. But the end of the day, there’s just this belief, like, Oh, I’m my company’s matching, or I’m putting in this one 401k, or I have my money in the IRA in the market, and I get these retirement benefits, who knows what they’ll be in the future anyway. But it’s advocating meaning we don’t know what that money’s worth, we don’t, we’re not keeping track, we’ve not given any future value to these, our monies and these vehicles. So it’s just true abdication, you know, with a false belief and kind of this hope system that there’ll be enough that sometime in the future, which there usually isn’t, regardless, what I love, the idea of moving to crypto is because now it’s our money, like I can see it, I can feel it, I’m responsible for it, I can see if it’s going up or down, there’s minimal fees, if any, like nobody’s kind of quoting managing our money, our money’s in here. And it doesn’t have to be diversified in 10 billion different places, like where they own
Unknown Speaker [38:11]
Krisstina Wise [38:12]
So yeah, we don’t have a money manager, now we’re managing our own money, and we can see it and it’s actually not that difficult. It’s far simpler at the end of the day. So you know, that’s why I’m a big proponent of just getting out of these vehicles over here anyway, because by by automatic by nature of doing that, you’re going to be managing and responsible for your own money, which is, again, it’s a piece of sovereignty, sovereignty is responsibility. sovereignty has accountability. sovereignties mean, I own this, and I’m responsible and accountable, not like, Hey, I’m putting my life into somebody else’s hands and expect them to make sure I’m taking care of which they’re not because they’re taking care of their lives, not your life.
Boris Peysakhov [38:52]
Absolutely, yeah. And these are, you know, one of one of the things I want to add about these legacy systems, these 401, K’s and all these funds, as much as I don’t like to, to say it, they were designed to rob the general public. They were never designed to make you money. They weren’t. Some do, but most don’t, not for most people, especially when you factor in inflation. And a lot of people don’t know this, and a lot of people don’t want to believe it, because they don’t want to believe that their system is screwed them. But look at the result. I mean, 1% of the population of the world controls 90% of money for a reason. And that applies to education as well, right? How we’re educated about money, it’s something you teach, you teach about. And you basically help people to reverse their mentality and their point of view. What wealth is actually and how it is to think as a wealthy person and you know how to reorganize your life, to actually create wealth versus how you were taught. This particular
Krisstina Wise [40:02]
interest. Yes, exactly. Well, great. Well, thank you so much. So, if somebody says, All right, this has piqued my interest, what would you recommend them to do to get started and an inquiry?
Boris Peysakhov [40:17]
Oh, there are 1000s and 1000s of videos on on YouTube, different personalities talking about different cryptocurrencies, different aspects cryptocurrencies, different attributes of cryptocurrencies, how to invest, why to invest what to invest in, everyone has their own different opinion. There is so much information out there, and it’s beautiful. There are many, you know, one of my favorite personalities that I follow on YouTube. And to me, it’s like a, it’s like a morning routine as Anthony pompliano. They call him Paul. He is an educator and investor and a very well respected teacher, when it comes to Bitcoin, certainly go follow him, Go follow a gentleman called his name is Peter Schiff, Euro Pacific investments. Peter is not pro Bitcoin, but he is an economist and a very intelligent person. And I respect them. And he talks about golden silver, and he’s got his own agenda. But he lays out, the reason I like Peter so much is because he very clearly lays out what’s really happening in the global micro and macro economy, talks about the actual numbers, what’s happening. So these two individuals will allow you to educate yourself, and to inform yourself to a place where you are very well positioned to make an intelligent, well informed decision as to how you want to allocate your investments.
Krisstina Wise [41:44]
Thank you. I love that. And what I love about you too, and I just love working with you that you’re not selling anything, you’re you’re helping you’re doing this for yourself, you’re helping your friends and family, maybe working with a few like me, but ultimately, you’re just passionate about getting the word out.
Unknown Speaker [42:00]
Boris Peysakhov [42:02]
Yeah, well, one of the things I’m trying to accomplish by teaching and educating my closest friends, my family, my community, is that, as I mentioned to you, right now is the largest, we’re experiencing the largest shift of wealth transfer, it will never be, it will never happen again. I don’t think at least not in a long time. And I want to do everything I can to see my friends, family, my community and people I love and care about to be well positioned to actually come out on top of this, instead of getting robbed, which is what’s gonna happen to most
Unknown Speaker [42:31]
Krisstina Wise [42:34]
All right, well, let’s say that we’re coming close to our wrap up time. So what I like to do is I like to ask a few questions to bring us into the finish line. And the first thing I’d like to ask is, if I if you said, Christina, if you really, really knew me, you would know that what’s something that not many people know about you?
Boris Peysakhov [43:03]
I have a really, really hard shell, but a really, really soft heart.
Krisstina Wise [43:08]
I see that in you. I love that. Tell me a brag moment, what’s something you’re really proud of.
Boris Peysakhov [43:20]
I’m really proud of what I’ve been able to accomplish in the crypto space in terms of my portfolio, my investments, I mean, five years ago, four and a half years ago, as I was sitting there, and just starting out cryptocurrencies. I wrote in journal on my dream portfolio and being able to assemble that proposition in the various steps of cryptocurrencies. And I’m very proud of the fact that I am here today.
Krisstina Wise [43:49]
I left that, what would be on the opposite side of that coin, what’s something what’s a failure, that was one of your biggest learning lessons?
Boris Peysakhov [44:08]
I can’t really recall any one particular failure because I’ve, I used to look, I’m an entrepreneur, I’ve had five different businesses in the last 10 years, while I was working in the real estate space, different websites, different ventures, I run a debt restructuring company, etc, etc, etc. And many of them did not succeed, and were quote, unquote, failures. Some of them did, and were quote, unquote, successes, but there were nuggets and strengths about myself that I learned and kind of came into that are priceless to me. Yeah, I can’t really think of any particular one though.
Krisstina Wise [44:51]
All right. Well, let’s have the final question is to do a little myth busting. Is there a big fat lie out there that you’d like to call out from your own point of view?
Boris Peysakhov [45:03]
I mean, since we’re talking about Bitcoin, as I mentioned, initially, the mainstream media and mainstream banking experts, one of the, you know, one of their things about Bitcoin is that they’ve talked about how Bitcoin is, has been hacked. And it’s not a very secure means of exchange, not very secure software. And the truth is that Bitcoin itself, that technology has never been hacked, and there is no technology that currently exists that can hack it. Because in order to hack Bitcoin, you would have to hack millions of computers simultaneously, globally, and there’s nothing that exists like that, because Bitcoin is built on cryptography, and it’s a code that changes every 10 minutes. So Bitcoin can never be hacked. What can be hacked? Again? It’s important for people to know especially if you’ve been investing in cryptocurrencies are the exchanges. exchanges can be hacked, I don’t recommend if you do purchase cryptocurrencies, I don’t recommend storing them on the exchanges, because, again, they have been hacked, they can be hacked, they’re better exchanges out there, there are more secure ones less secure ones. But Bitcoin itself is the most secure piece of software that has ever existed so far.
Krisstina Wise [46:27]
All right. Well, thank you so much for us. And so for everybody listening if you’ve if your interest has been piqued, and if you’re in a similar place that I am, like thinking after talking with Boris. Alright, I’ve been putting this off. And I’ve been I’ve heard this cryptocurrency thing, and I know some people that are, you know, pretty geeky about it, but not sure it was for me. But yeah, I’m thinking I better check this thing out. Boris and I are going to be having more conversations and the campus which is an online community that, that I’ve put together as part of Wealthy Wellthy and sovereignty Academy. So we’re just gonna be doing more teaching and education there. Again, Boris has just offered to coach me and, and help me so that we can help lots of others, like you said, being this transfer of wealth. And if our friends and family and followers can be part of growing wealth during this changing time, then we’re all the better for it. So Boris, thank you so much for your friendship, your coaching for your advice, for your enthusiasm to me personally, then again, just your passion to get the word out, you know, to everyone else.
Boris Peysakhov [47:33]
Thank you. Thank you so much for having me. It was a absolute pleasure chatting with you and I, I hope that some of your viewers are going to really take this seriously and go and do more research and go learn about this. Again, there’s so much information out there. And this is power. This is real power, real sovereignty. It’s yours. It’s right in front of you got a ticket. I love it.
Krisstina Wise [47:57]
That’s a perfect place to end. So thank you so much for us.
Unknown Speaker [48:01]
Krisstina Wise [48:03]
If you enjoyed today’s show, there are a few things you could do as a way to say things. First, simply hit the subscribe button to the Wealthy Wellthy podcast. By doing so it helps both of us. You’ll never miss an episode and it helps me and my ratings. Second, if you’re so ambitious, please leave a review while you’re at it. Third, just keep doing what you’re doing and continue to share the Wealthy Wellthy podcast with your tribe of friends and colleagues. On another note, although you likely listen to the podcast when remote keep in mind that there are links to the guests and their work in the show notes that you can find at WWE podcast.com You can also find a ww podcast.com. The latest information on my upcoming events and other things I’m creating to serve you in our mutual quest to live a Wealthy Wellthy life. Thank you so much for listening. See you next time.
What We Covered
[1:50] Who is Borris?
[2:55] What were you doing in finance?
[5:38] What is cryptocurrency?
[12:45] There are lots of different functions for cryptocurrency and we can invest in them like other assets?
[14:30] choose 3-5 companies people should be watching.
[18:15] So is the real world going to start transitioning and integrate into more of a blockchain world?
[21:10] So why should I be investing my money in cryptocurrency?
[27:14] Can you share with us what is happening with the economy and how that is affecting us overall?
[32:15] Talk about some of the corruption going on in the financial system.
[36:14] Traditional 401ks have been taking away our financial sovereignty and have been forcing us to abdicate our financial responsibility.
[40:10] Who are some experts that you would recommend following to learn more and stay abreast of what is happening in the world of cryptocurrency?
[41:45] You are so passionate about educating as the bottom line.
[42:40] Krisstina if you really really knew me you would know that?
[43:10] Tell me a brag moment.
[43:50] Tell me one of your biggest perceived failures.
[44:52] Bust a Myth for us.
“There are over 6000 blockchain projects out there, and probably out of those 6000 or 10 different types of cryptocurrencies”
“The cryptocurrency space right now is about 350 billion, and Bitcoin controls about 62% of that market share. ”
“A lot of people may or may not know this, but we’ve printed more money in the last six months in the US government than we have in the last 100 years. And that has significantly further devalued our currency.”
“We don’t know how many dollars are going to be created in a year from now, five years from now 10 years from now 100 years from now, with Bitcoin, we know all of that.We know that 900 Bitcoin are added into separate circulation every single day, we know that the last Bitcoin will have been added into circulation by 2140.”
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