Jefferson: Live
from BTC manager world headquarters. This is one confirmation with Jeff and
Dave. I’m Jeff
Dave: I’m Dave.
Jefferson: And holy cow what another exciting week it’s always something going on in the crypto world. And if you blink you might miss it. Bitcoin is $11,500 and Ethereum seems to be breaking out at over $400 and then this Chainlink thing comes out of the blue and it’s at $16. What is going on in this market.
Dave, what do you think is going on?
Dave: This is like changing the whole word. I would say that in the economy and Bitcoin is really it’s a good thing. It seems like it’s a drain coming through to invest in Bitcoin. Ethereum
is also doing good. So I think they are doing a magnificent job, they’re doing really good.
Jefferson: Yes, I know.
It seems like there’s a lot of people taking an interest in cryptocurrency. And maybe that’s
because the US dollar is continuing to depreciate, there’s a word that they’re going to be printing somewhere between another $1 and $3 trillion, which is only going to serve to deflate the currency even more.
So yes, I’d say then, on top of that Ethereum is about to come up with all kinds of amazing new technologies. So that’s one thing I wanted to point out about Chainlink. Chain link at $16. a share I know a friend of mine, he’s like, “Oh man, I should have bought in whenever it was like, $0.5 or something.
But Dave, have you ever heard of Chainlink?
Dave: I have heard it, but not much on
- Because I’m more looking into PayEm, Bitcoin. And there’s two more often but the Chainlink not much.
Jefferson: Yes.
Well Chainlink, it looks like they took some of the ideas around the Ethereum, and they bolted it into their protocol and released it. The thing is the guy that’s behind it, I believe his name is Brock. But he’s released several other projects, which have all had problems. So this is seemed to be the latest one. And on top of that, there’s actually a community out there called 4chan. And they heavily, heavily promoted this Chainlink thing. I really got to wonder about the longevity of this. This time, especially considering that when an Eheruem fully releases all of their updates, it’s really going to I think obsolete Chainlink is not going to be worthwhile. So the question, is it a chain link for utility, is it a place to store value?
There are just so many questions that I have about how the Chainlink systems all fit together and about the people that are behind it. And that’s why many analysts have actually said that is probably a good idea to avoid Chainlink.
In here it seems like chain link is getting out there. David, have you talked to any of your friends have any of them ever heard of Chainlink?
Dave: Well, in our conversation.
I’m just looking at the Chainlink and I’m looking the trend we are making from the last one or two months and I really just saw that they are doing really good in the last few weeks. It’s good it’s something like came on top just like Bitcoin it goes quite up. They are also doing good in the last few weeks.
Jefferson: Yes, well Ethereum has really broken out there up to now $424 today and it appears that it’s probably going to go even higher as adoption continues to increase. See, Etheruem is the backbone of all the decentralized finance systems. So if you want to place a bet for against even Chainlink, you’re going to do it through Etheruem. So I think Etheruem will continue to maintain their strong position for a long time because especially with the Etheruem too.
So yes, it’s really interesting how that’s been developed. And on top of that, there are a few other really interesting things going on. Coin base has introduced a lending feature along with a square setup will allow you to follow Dollars against Bitcoin. So that is to say you could put up you know, for example, .1 Bitcoin., right. A fraction of a Bitcoin and currently that’s first like $1,000 and then you can follow $100 against that though lock up your Bitcoin and they’ll give you your $100 at a very low-interest rate. And then when you want you can pay it off and then you can get your Bitcoin back. So Dave, do you think you would you might take advantage of this crypto lending feature at some point?
Dave: Well, yes,
I am and from last a couple of months, I was like more into it investing my lot of money on it,
maybe probably 1 million rupees I have invested in the last one month in this crypto and as you can see that they are doing really good. So I’m more interesting than this more on it.
Jefferson: So that’s a thing.
Now if you wanted to, if you had, for example, .1 Bitcoin, you
can now borrow, some rupees against it to maybe buy some food or buy some gas.
So is that something that you would might want to take advantage of over say
payday loans?
Dave: Yes, absolutely.
Jefferson: Yes, much lower interest rate ove payday loan. Payday loans in America, you’ll end up paying sometimes as much as 500% more than you bought. So for example, some people that I’ve done payday loans they about $100 they have repaid $500. It’s pretty crazy.
Dave: Yes, it seems like really crazy
500 times
[overlap] in a dream.
Jefferson: Yes, that’s something like that should be illegal, but it’s not. It’s actually completely legal in America. And you compare that to crypto lending where you can have their highest interest rate is 8% per year.
Amazing, huh?
Dave: Yes, that is amazing.
Jefferson: So along with that, the last piece of news is that the feds have gone around and shut down yet another terrorist network that was operating within the crypto space. It seems like this time the markets have not reacted at all. I would say that this is the first time I have ever seen an announcement. like this, where the markets-if anything has continued to go up. Let’s see the federal government and it’s a network of like about five or six different three-letter agencies all got together and shut down a terrorist network that was accepting Bitcoins as donations for random terrorist deeds. They also arrested some 300 people in America that had donated to this terrorist network. And they said that just because you donate in Bitcoin doesn’t mean you’re anonymous. And this is true. If you buy Bitcoins for Coinbase, they do KYC AML and they can most certainly trace where your Bitcoin go. So it is true that Bitcoin is not completely anonymous. As we all know, it’s a public ledger. And the point of a public ledger is that you can track and verify your holdings, unlike with the banks, when you put money in a bank, who knows if you even have that money ever again, if you put money into cryptocurrency and you keep it on a web server somewhere. Yes, that can
absolutely be seized. But if you put money into cryptocurrency, and you keep it on a ledger, or you keep it in a cold wallet, that money cannot be seized very easily.
So the point is that you have control over your currency, you have control over your money, and the feds would have you believe that only they can control their money, which is not true at all, and not to even go into the more advanced uses of real money. And that’s where we get into what we talked about on prior shows. Things like programmingmatic money. The things you can do with programmatic money, like Etheruem, where you can actually design a way to compensate people for building ventilators, for example, and putting it into hospitals. That kind of architectural design cannot be done with our current monetary system very easily. And it can totally be done with Etheruem 2. And so there’s a lot of other things that can be done with programmatic money, which is one of the reasons why we intrigued when these True P&L guy came along and said, “Hey, we’d like to chat.”
So today we have Russ and Nick, are co-founders of True P&L on the line with us today. And how’s it going?
Russ: Hi, Jeff. It’s really nice to be
on the board here. So let me tell was True P&L is. True P&L is a corporate rating and public rating platform for crypto trading investors. And probably it’s also resolving the problem of fledging. I started my way in crypto about five years ago, about three years ago we helped to a lot of ICOS to get an investment another stop. And later we started our own crypto exchange. So recently, we sold out it and now we are writing the True P&L. So I’ve always been interested, how can I get additional income on my Bitcoin investments.
So True P&L is the corporate trading platform. It allows to give engineer to get assets to the professional trader for management and pay only for the success fee and small subscription model. Probably main interest and maybe if you have to pay analysis, you also will have control over your files. Because all the connection goes through the IP case of any exchange to use, for example, Biden’s for business.
Jefferson: That’s very interesting. So yes, I was looking at your website and your API and you do not notice there’s a lot more interest lately on people wanting to do trading, based on other trader’s successful trading habits. I’ve noticed, for example, within [unintelligible 00:12:49] wallet that you can actually buy into the different funds that very closely mirrored what other traders do. So if that’s something that could be done on your platform to where we can see what the trading patterns are, and how we can perhaps buy and sell and if you will make money on Bitcoin
Russ: Yes, it’s right.
We’re also focused on Euro trading and copper trading. But we are in early stage of development and at the moment, we are looking for professional traders on our platform. And we’ve started these analytical services to check your trading performance based on the RB case. And after we get a lot of professional traders, we will start to get and it will be focused on investor traffic. So we are about to look similar
Jefferson: Very, very interesting.
Yes, I’m looking at the like, I thought I was looking at your website under-it looks like you only currently work with Fitmax. Are you planning on connecting up other chain exchanges as well, perhaps like by Finance or others?
Russ: Yes, sure.
We started this business because it’s a lot of problems and most professional traders focused on the futures market is a moment like Beatniks or Jerrybeat. But in the future, we are going to connected bind the spot and bind the future also, as well. We are working on it at the moment. So probably in the months, it’ll be ready.
Jefferson: Yes, I could see that if somebody was wanting to create something that was, for example, a decentralized tool, they can also rely on your platform to connect it up to the exchange as well. Is that right?
Russ: Yes, it’s right, you just need to connect your IP case and at the moment, you can get a lot of statistics or and historical statistics, even with some professional indicators for traders, because at the moment to be honest, it’s like almost no one exchange, like top
five that doesn’t provide you a historical statistics and you even can check how successful you was. So we get all your trading data by culture all data provided by IP case, and make a lot of diagrams historical statistics, for example, like your performance for each month, maximum of down roof score and other stuff.
Jefferson: Yeah. That makes sense.
I know, that’s one area where I think there’s a lot of folks that simply have not considered that the US market for example, the stock market is some of these tools are only available to large scale traders. You know, there are people that can only, have more than $1 million in their account and have, you know, sometimes even certain licenses, and then they can affect take advantage of certain types of trades, for example, Quants. That Quant market is really, really large. When oil plummeted recently, one trader made more than we’d like $70 million in one day on very little money, he only put up like $0.5 million and he made $70 million on the fall of oil. And that’s the power of Quant. You know, if you can make a trade like that, like, if oil is just going to go through the floor, even into negative territory, you can really make some money. Now today, I think we’re platforms like yours, you can access Quants on any market, but if you’re looking at the exchanges, like if you’re on Bitmax, it’s like, you’re basically out on a trading floor, you can either buy or you can sell and you can see the bids, and you can see the ads, but it’s like, okay, now what, you know, where has Bitcoin bent. Where could it potentially be going? What are some of the quantitative analysis that you want to be able to do? So I think what you’re saying that your platform enables some of that analysis.
Is it alright?
Russ: Yes.
We start with the analysis for professional traders. And as you mentioned, you know it’s quite difficult to get your money to management for professional to professional traders because it’s required at least $1 million of capital to give some money some way into traders because for example, if you were to invest in the trader, it’s the optimal amount for you, it will be a process of your capital. And then at the moment like minimum entry cheque to for asset management is like 50K. So, it’s quite close for, almost for professional traders, and we try to make it open like for millions and for new common traders on the market. As you can see we can’t find that market of alternative investments is growing quite fast, like Robin Hood and Etoro and [unintelligible 00:19:16]
Jefferson: Yes, make sense.
I was just talking with a guy yesterday he was a financial analyst for the oil and gas industry. And he was a young kid. He’s probably about 26, 27, something like that. Basically just oiling gas jobs that he had booked the first job out of college. He was saying that he’s getting really tired. The oil and gas industry because it’s not going anywhere. It’s up-down. But he was really interested in cryptocurrency and even cryptocurrency trading. And I think he said he set aside a couple hundred thousand dollars in his IRA.
So what would you say to somebody like him that is potentially interested in getting into cryptocurrency trading, they already have a little bit of financial background. What would you say to him to try cryptocurrency trading?
Russ: Cryptocurrency trading is not competitive like traditional market trading. But it’s also started to be a big manipulating and competitive. So to be honest, the best strategy is really to buy and hold for unprofessional traders. But if he would to get to make to put into changing spirit into crypto, it’s probably better to you but from like, all won or alternative, because the almost ancient process of crypto investors lose money and it’s just general statistics on the market.
Jefferson: Yes, that makes sense.
I think there’s a lot of opportunities still today within the crypto space and it just really rolling up very quickly across just a lot of different trends. between, you know, the different if you will exchange-traded funds, these are basically privately created, exchange-traded funds that somebody can go on your platform and create a public portfolio and basically manage millions of dollars worth of trades at a time. I think that’s, that’s something really, really interesting going forward. Meanwhile, just turning our attention so how did you guys get your start and in the cryptocurrency space?
I’m curious.
Russ: Yes, sure.
It’s like I invested in cryptocurrency costly, maybe several years ago and I already six-year in the e-commerce business and the goal some of my acquaintances required me to help with that I saw. I found I was someone who was quite interested in that time and already for all it will be really prospective and in the future. So I help them with marketing and it can get quite successful. So later I bested a marketing agency named like the [unintelligible 00:22:57] and for a couple of years so we help about more 200 die sauce, was fundraising, marketing strategy, and other stuff. But later is that I found that it will be really great to start my own product because I already had experience in technology before because I face like an ecological university. And with my partner, we launched our crypto exchange Lucaya. But you know, as a crypto exchange, I see that it is quite a competitive business and there are no required like a lot of exchanges in the world. Because it’s not like five or 10. And recently we have like it for two years and maybe a couple of months ago we sold it and decided to build the infrastructure for the traders and investors and be over the exist in exchange and just increase the income or like boss traders and investors.
Jefferson: Yes.
I think that’s where a lot of attention has been placed lately is on actually making this type of trade more available rather than only available to a selected group of people, right.
I think it’s, it’s the democracy. The democratization of money, I think is really going to be one of the defining things about the 21st century.
Russ: It’s true. It’s fundamental
shifting paradigm into an investment, I think because a large number of people
from developing countries such as Russia, India, and China acting as a
substitute in the market.
Jefferson: Exactly.
Russ: Yes.
Jefferson: And I think that’s really where the attention shifts more into this space. I think more finally, oddly buying that money you get to centralize that are free up our time and energy and attention to do far greater things and you know what, we have already been doing.
So I am fascinated by this technology. It’s amazing. And the people that come to space, you know, so, in my case, I went to the Denver Bitcoin Meetups a few years back and I met some of the early pioneers that later went on to crypto Panama, you know, they later went on to, for example, salt lending money. They didn’t quite make it. I think salt lending led to others you know doing that as well which it now Felted Nexo, all those guys, and now coin base.
So considering that as time goes on the things are improved. What do you think is going to be coming next for this industry, what do you think it next?
Russ: No defies quite potential missions market and to continue since a market that pink centralizes financials it’s really great stuff and probably it’s next step and into crypto. I’m kind of waiting for the mass adoption of the Bitcoin or alternative coins like Etheruem that maybe. So, at the moment, we are focusing to make a copy trading more open for regular investors and for newbie investors and make the investment process much simpler and much effective. There are no required, like a couple of years to invest in your trading strategy. And you don’t need to be a professional trader to earn it. So it’s our main focus.
Jefferson: So, David, in India is it difficult to earn really good gains on your money there? For example, if you had, you mentioned a million rupees, could you go into a bank anywhere and earn for example, more than 100% interest in a year?
Dave: Well, there’s no such bank that gave you that much of interest.
Jefferson: Right, right.
Dave: But from an investment point of view I do a long line and like yes, I have investment and but the problem that I’m facing and I’m thinking is like this true P&L like two-time property going to help me to track my investment and to guide me where I should invest. Because I just see some friends and then I listed it right. Because I’m from the business I don’t have much time for this. But now if I have something that some tools that can guide me to help to invest where and how much to that would be I think a really great. Especially in the crypto, we have a lot of other tools that is available in the stock market, but that’s different because the stock market and crypto are two different things [inaudible 00:28:56] what I’m thinking.
Jefferson: Okay, so let’s look at that. You mentioned the regular stock market, and I know India has their exchange, could you with the million rupees buy some exchange-traded fund that would really do well there in India?
Dave: We can buy it in 2000.
That’s right. But you can have small money, you can buy it, you can spend
millions or billion rupees, that’s not a problem. But you won’t have your own
exchange. You just buy something from some company shares you will purchase it,
but that money and if the company grows, your money grows. The company goes down, your money is finished. It’s all around the world with a formula
Jefferson: For a thing. I mean, you might be able to buy something like the nifty 50 I think all it on the Indian market, but I’m looking at the history of it, and you’re today, you’re down 8%. So compare that to even Bitcoin, if you just simply bought Bitcoin at the beginning of the year you would be up tremendously. So let’s just consider that I mean, using True P&L are you saying you could even outperform just a straight buy a Bitcoin?
Dave: It’s for me?
Jefferson: It’s for Nick and Russ.
Russ: I’m sorry, could you repeat the question there?
Jefferson: Yes.
So, I was just comparing, for example, if you bought say, a million rupees worth of the nifty 50, you would actually be down 8% this year. So January 1st, you bought a million rupees on the Indian market, you would have lost 8% of your money. That’s pretty significant. That’s almost 100,000 rupees. But if you compare that to for example, buying Bitcoin, if you bought Bitcoin at the beginning of the year, January 1st today, you’d be significantly up considering that a grant fund something like 5000 to 11,000. So compare that to for example Ture P&L. I’m just wondering, could you on True P&L as a professional trader outperform even Bitcoin?
Russ: Yes.
We never compared like with our investments with the dollar investments. We’ve been focused to compare it to like these Bitcoin investments. For example, we hope to outperform it on the internet pitching process. When they’re like a developed country, your investments looks like a quite the risk to like invest in ETF funds or invest in Bitcoin and a lot of millennials and Generation Z investors prefer to invest in Bitcoins instead of the traditional market and our main purpose and to outperform a strategy just buy and hold. It depends on the successful trader. It will be some traders because I had the statistics of several traders and several traders has about 200 or 300 processes outperforming on the Bitcoin investment. So I think it’s quite great results but I think if get optimal analysis like it will be about the proper estimated goal and build like about pitch and process barrier outperforming Bitcoin investments.
Jefferson: Very, very cool.
Well, David, do you have any final thoughts or questions?
Dave: I think I’m good so far on this, and I’m excited to look into it, going forward.
Jefferson: Very, very cool. Any final
thoughts, Nick and Russ?
Russ: No, I have no.
It will be welcome to see you guys on our platform, just try and check through [overlap].
Jefferson: Very, very cool. Well, thank you
for joining us in the show today. If you want to check out their website, it is
truepnl.com.
That’s P as in Paul, N as in November, L as in Larry .com.
And again, thank you for joining us at one confirmation with Jeff and Dave. And I’m Jeff.
Dave: And I’m Dave.
Jefferson: Thanks for having us.
Russ: Thank you for inviting me.
Jefferson: Thanks
Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
