Crypto & NFTs are all the rage these days, but it’s hard to tell which direction things will go.
This Friday at noon I’m super pumped to have Ryan Baptiste on the show to venture down the black hole on these markets.
He’s been in the game since first learning about Bitcoin in 2013 and has lately been entrenched in several companies doing groundbreaking work in the space.
He’s also got some exciting ventures of his own on the horizon….I’m going to try to be like a sponge and absorb as much as possible from Ryan’s expertise!
Jeremiah introduces his message of the week, “bitcoin does not compete against currencies” which comes from his guest, Ryan Baptiste, who is an expert in Crypto and has been working with Bitcoin since 2013. Ryan goes into his background with Crypto, and how he learned about different programs that allowed for NFT (Non-fungible Token) to be written in Bitcoin itself. Even though NFTs have gained a sudden increase in popularity in 2021, they have been around since 2015, and Ryan explains the different possible factors behind why NFTs have become a current craze. Jeremiah and Ryan discuss blockchain, which is essentially a non-reversible database, and isn’t always currency based, as blockchains can be used for informational purposes as well. The two discuss the main purpose of blockchain, and how it is for record checking purposes in most cases. Jeremiah and Ryan continue to discuss crypto currency in general, and whether or not it competes with the formal US paper currency.
Jeremiah and Ryan discuss other uses of cryptocurrency and the bitcoin wallet, specifically through marketing purposes. The two discuss what the future could hold for Crypto in terms of fractional investments on physical objects. Ryan explains how NFTs and physical items can be either integer or divisible, and how physical items are newer to the Crypto investment community. Jeremiah and Ryan discuss how prevalent fraud is in the Crypto world, and the different ways that fraud arises within Crypto and NFTs. The two discuss El Salvador, and how recently they have been working towards using Bitcoin as a legal tender within the country, and what their reasoning behind this decision might be. Ryan also explains why Crypto is known as the “digital gold” after Jeremiah asks if precious metals play any part to Crypto levels.
The two discuss Ryan’s NFT business, and how it runs and operates. Ryan goes in depth on how selling a NFT works, and how physical objects like baseball cards come with a NFT token, and the physical object would not be worth the amount it is without the NFT token attached to it. Ryan explains how collecting NFT tokens is like collecting anything else, like physical baseball cards, and even though digital NFTs are digital, only a set amount of people can own it, allowing someone to own a bit of Crypto. The two discuss the liquidity of selling cryptocurrency and NFTs, and how one can “cash out” after they gain wealth through selling Crypto and NFTs. Jeremiah and Ryan discuss the craze behind buying NFTs at the level of those sold by Gary Vaynerchuk, where he draws animal sketches and sells them as NFTs. Ryan explains in cases like Gary Vaynerchuck the NFTs he makes sells quickly due to his own popularity and his fans, and people are buying his NFTs due to their association with him rather than the actual content of the NFT.
Jeremiah and Ryan discuss a recent NFT tweet Jeremiah saw on his timeline, about someone who bought a facemask NFT, a tweet that showcases how NFT and Crypto, while still a new industry that is currently used for trading between parties, has a bright future as an industry. Ryan explains the goals he has for his company in the future and how he plans to make use of Crypto when buying and selling his NFTs. Jeremiah compares Ryan to a financial advisor in terms of Crypto, and Ryan explains where the best place for someone to invest their money in Crypto to get growth out of their investment, as well as what amount would be a good amount of money to invest into Crypto.
00:00:31.200 --> 00:00:41.790 Jeremiah Fox: what's up party people in the House so welcome back you're in for another edition of the entrepreneurial web i'm your host Jeremiah fox got a hot one for you today, before I bring my guest on.
00:00:42.120 --> 00:00:47.670 Jeremiah Fox: The message of the week just some food for thought, this is something from my guest Twitter feed and it just stood out to me.
00:00:47.910 --> 00:00:57.810 Jeremiah Fox: And we'll get to tear this apart, a little bit hopefully have a better understanding of it all, by the end of the show, and it is bitcoin does not compete against currencies.
00:00:58.800 --> 00:01:08.940 Jeremiah Fox: Which is it's a pretty deep thought so with that i'd like to welcome to the show Ryan Baptist he's a he's a bit of an expert in the field he's been dealing with.
00:01:09.690 --> 00:01:19.440 Jeremiah Fox: crypto since 2013 when he first learned about bitcoin and is he's been a part of some exciting projects and he's got some new stuff coming up that we're going to learn about today so welcome to the show Ryan.
00:01:20.790 --> 00:01:22.020 Ryan Baptiste: hey JEREMY thanks for having me.
00:01:22.410 --> 00:01:40.020 Jeremiah Fox: awesome man Thank you so we first connected in lance knobs there's the afternoon clubhouse room, which is always a always a great room and if a couple weeks ago, you were dropping some pretty serious knowledge on crypto and NF tease it kind of made my head do that emoji.
00:01:41.220 --> 00:01:51.930 Jeremiah Fox: Where the brain is like it's funny because I was on my way to the bank, when we were having that discussion, I was going to like deal with some money and I just walked into the Bank, and I was like this is all going away.
00:01:53.760 --> 00:02:10.110 Jeremiah Fox: Such an odd odd feeling um so just real quick I don't want to spend too much time on background I really want to get down and dirty on on nfc bitcoin crypto wallets you know the future but just give everybody like a quick background just have your your experience with with crypto.
00:02:10.980 --> 00:02:14.130 Ryan Baptiste: yeah so I learned about bitcoin in 2013.
00:02:15.690 --> 00:02:27.840 Ryan Baptiste: From there I learned about a protocol code counterparty which rights, data into bitcoin which allows you to create and if teaser non fungible tokens inside bitcoin itself and then from there.
00:02:28.860 --> 00:02:41.580 Ryan Baptiste: i'm creating a card company like almost like topps baseball cards with their bitcoin and if T cards and any every card has a physical bitcoin address and and if T inside it so that's where i'm at right now.
00:02:42.120 --> 00:02:58.260 Jeremiah Fox: Now, in a tease have been a hot topic just you know 2021 um when when did that association start to begin were like i'm counterparty was creating that you know this inclusion for an empty is how far back does that go.
00:02:58.710 --> 00:03:12.870 Ryan Baptiste: yeah so the counterparty protocol was founded by three guys in 2014 and they burn 2140 bitcoin so by burning I mean they send it to an expendable address that no one can recover and the issue, the token scp.
00:03:13.500 --> 00:03:27.780 Ryan Baptiste: Which is the anti spam mechanism for creating estes inside bitcoin or creating financial tokens inside bitcoin they're equally secure as bitcoin itself and then in 2015 the first and FT art.
00:03:28.860 --> 00:03:33.630 Ryan Baptiste: was issued, and it was by spells of Genesis and it was called the sd card.
00:03:34.830 --> 00:03:36.810 Jeremiah Fox: So this is going back to 2015.
00:03:37.590 --> 00:03:44.730 Ryan Baptiste: yeah so I believe crypto punks came out or crypto kitties was 2017 or theorem and that kind of took it mainstream.
00:03:45.360 --> 00:04:01.560 Ryan Baptiste: But before that there was a group of Community called rare pepe so the curated different pep a's and fts and I think security like 16 or 1700 and probably say at least five or 600 of them were created before any theory amenities.
00:04:02.130 --> 00:04:14.940 Jeremiah Fox: Okay um and so why, like all the sudden now it just became super hot, is it simply because of like Gary van der chuck or is there is there something else behind like its current popularity.
00:04:15.720 --> 00:04:18.900 Ryan Baptiste: um well definitely the financial aspect.
00:04:20.100 --> 00:04:30.870 Ryan Baptiste: People started buying it to started speculating on them and making lots of money guy named people made a $69 million every day, and if T that was purchased by a hedge fund I believe in Dubai.
00:04:32.790 --> 00:04:38.910 Ryan Baptiste: So that's one reason and then there's more mainstream like top shots and tops is coming out with that T so.
00:04:40.260 --> 00:04:41.910 Ryan Baptiste: that's bringing people into it too.
00:04:42.180 --> 00:04:44.250 Jeremiah Fox: When did when did the people sail go down.
00:04:46.020 --> 00:04:48.720 Ryan Baptiste: pick the people say went down, maybe, six months ago.
00:04:48.900 --> 00:04:50.970 Ryan Baptiste: Over 9 million look somewhere around there.
00:04:51.300 --> 00:04:58.230 Jeremiah Fox: So that really like was the catalyst for like current craze and everybody else kind of jumping on board.
00:04:58.740 --> 00:05:11.490 Ryan Baptiste: yeah I would say um you know it's become easier and there's like private block chains now so it's not as technical for people to get it say it, and if T, but not on entities are created equal you know they're only secures the blockchain is protected on.
00:05:12.030 --> 00:05:21.750 Jeremiah Fox: So let's talk about blockchain from an A I had a guest on right before everything shut down she was one of my last in studio guests here and in the city.
00:05:22.230 --> 00:05:28.620 Jeremiah Fox: she's she's based out of DC but her husband grew up here and they were like coming to visit family she was like i'll actually be in New York.
00:05:29.580 --> 00:05:33.120 Jeremiah Fox: And i'd love to come on your show and talk about blockchain and it took literally like.
00:05:33.420 --> 00:05:41.550 Jeremiah Fox: Two thirds of the show for me to understand exactly how blockchain work because she kept saying all these crazy things like she was like I could you know, have you right.
00:05:42.540 --> 00:05:47.340 Jeremiah Fox: You know, create a competitor to Facebook like through blockchain we can do it like tomorrow.
00:05:48.330 --> 00:06:02.850 Jeremiah Fox: So, can you just like for the layperson that really doesn't get it, I mean I feel like by the end of my show with her, I kind of understood, but I haven't picked back up with it sense, just like basic inner workings of blockchain and how it supports something like an ftp or cryptocurrency.
00:06:04.170 --> 00:06:08.430 Ryan Baptiste: let's see maybe the easiest way to describe it for non technical person.
00:06:08.670 --> 00:06:10.050 Jeremiah Fox: yeah like elementary school kids.
00:06:10.860 --> 00:06:18.090 Ryan Baptiste: really good non erasable database basically so blockchain is basically a database, but it's not controlled by one central party.
00:06:18.360 --> 00:06:29.010 Ryan Baptiste: Or at least that's the goal of having a decentralized blockchain is not to have one central party, be able to control it, many of these blockchains nowadays are centralized so they're not even really true blockchains but i'm.
00:06:29.730 --> 00:06:39.270 Ryan Baptiste: A non reversible database that people verify their the records of past records and they would be like the miners are proof of stake, and they would just secure the block chain itself.
00:06:39.540 --> 00:06:48.510 Jeremiah Fox: So what's a good example of like a you know, one of the seasonally control blockchains right now that, like most people would would know of.
00:06:49.380 --> 00:06:51.330 Ryan Baptiste: Essential say a centralized blockchain.
00:06:51.360 --> 00:07:00.900 Ryan Baptiste: yeah um any new coins launching that are that are just distributing their coins on a centralized blockchain.
00:07:02.640 --> 00:07:10.650 Jeremiah Fox: Like doesn't have to be doesn't have to be currency is it all, I mean they are the only currency related sometimes it's just information based right yeah.
00:07:10.680 --> 00:07:11.160 Correct.
00:07:12.420 --> 00:07:21.120 Jeremiah Fox: So it kind of could be any worse, but it's like the difference between centralized government it's like Liberals versus conservative.
00:07:21.840 --> 00:07:31.500 Jeremiah Fox: let's just make this fucking political now let's not do that um but but is that is that a good way of kind of describing that where it's like.
00:07:31.950 --> 00:07:42.840 Jeremiah Fox: it's almost like the big government version of blockchain where i'm decentralized is more like like free market and and a lot more crazy things can happen.
00:07:43.500 --> 00:07:48.570 Ryan Baptiste: yeah it was just saying there's more participants participating in a decentralized blockchain so.
00:07:49.080 --> 00:07:55.350 Ryan Baptiste: bitcoin has a lot of different mining pools, so not one pool controls the whole block chain where, if you have say.
00:07:55.800 --> 00:07:58.770 Ryan Baptiste: Top shots I don't wanna say top shots in particular, but if someone owns.
00:07:59.160 --> 00:08:07.950 Ryan Baptiste: If it's proof of stake, the majority of the tokens and they can do whatever they want with the blockchain since they control it, whereas if tokens of proof of stake are distributed to a lot of different parties who only.
00:08:08.370 --> 00:08:14.610 Ryan Baptiste: own a small percentage of it um you know you got to get greater than X percent to make a change on the blockchain.
00:08:14.640 --> 00:08:28.740 Jeremiah Fox: gotcha makes sense, so almost like board of directors kind of I there's just a lot more a lot more people involved in the decision making process rather than just almost more like dictatorship versus democracy.
00:08:29.310 --> 00:08:30.060 Ryan Baptiste: yeah 100%.
00:08:30.330 --> 00:08:32.730 Jeremiah Fox: gotcha that makes a lot more sense to me now.
00:08:33.840 --> 00:08:36.090 Jeremiah Fox: I had another really good question it just slipped my mind.
00:08:37.980 --> 00:08:45.300 Jeremiah Fox: And then Oh, I know it's good as well, so kind of my understanding is like blockchain is essentially verification.
00:08:45.780 --> 00:08:59.640 Jeremiah Fox: it's really just like a series of verifications that that evaluate something whether it's information based whether it's currency based the blockchain is what really supported and and it's like it's backing this this Foundation is that true.
00:09:00.060 --> 00:09:02.340 Ryan Baptiste: yeah correct it's all signatures are very yeah.
00:09:02.730 --> 00:09:21.240 Jeremiah Fox: Right right um now, especially in your Twitter feed, I noticed like scroll through a little bit and and you're really into this idea of arm the US attaching the dollar to is it just bitcoin or is it crypto in general that you're you're keen on.
00:09:21.960 --> 00:09:24.330 Ryan Baptiste: Just just bitcoin pretty much yeah.
00:09:24.660 --> 00:09:26.430 Jeremiah Fox: And then go ahead, for your sake.
00:09:26.970 --> 00:09:35.760 Ryan Baptiste: yeah so i'm not attaching I was saying that digital dollar so recently I think trump made comments that the bitcoin competes against the dollar.
00:09:35.910 --> 00:09:44.940 Ryan Baptiste: Right I kind of take out the opposite stance, where I believe the majority of bitcoin is owned by United States citizens and.
00:09:45.630 --> 00:09:56.610 Ryan Baptiste: bitcoin doesn't necessarily compete against the US dollar, but rather it supports it, so I believe the more bitcoin inside our borders, the stronger it makes your dollar.
00:09:57.330 --> 00:10:02.730 Jeremiah Fox: Right and that's why I chose that quote because it kind of it struck me, you know is.
00:10:03.240 --> 00:10:11.100 Jeremiah Fox: I always just kind of read everything is that you've got all these competing currencies when it doesn't really have to be that way um.
00:10:11.820 --> 00:10:18.660 Jeremiah Fox: And there's no doubt that we're going in the direction of digital currency and that paper money is going to be a.
00:10:19.170 --> 00:10:33.510 Jeremiah Fox: distant memory we're going to like have it just mounted on our wall and like laugh about it one day i'm within the different Christos you know what there's there's dodge there's bitcoin what are what are some of the top ones right now.
00:10:33.900 --> 00:10:39.120 Ryan Baptiste: Well, a theorem would be number two on them market CAP under stone and then there's a.
00:10:41.640 --> 00:10:48.810 Ryan Baptiste: there's ripple their stellar there's there's just cosmos Solana there's there's a lot of them.
00:10:49.320 --> 00:10:59.940 Jeremiah Fox: And there, I mean do you see them as competing against each other for like the top the top, you know wrong in in the digital like the digital dollar.
00:11:01.740 --> 00:11:07.170 Jeremiah Fox: or will they all just level out and kind of be quantified similarly.
00:11:08.640 --> 00:11:13.710 Ryan Baptiste: So so i'm not really sure where it takes us so obviously we're going to need different blockchains for.
00:11:13.950 --> 00:11:21.030 Ryan Baptiste: For different capacity, like obviously there's only a certain amount of information that can be or certain amount of transactions that can go on these blockchains a certain amount of time.
00:11:21.450 --> 00:11:36.420 Ryan Baptiste: So say you wanted to see realize every single pencil in the world bitcoin would not be the place to do it, so you might want to a different blockchain that doesn't need X amount of security and return to store say coupons or or information like that.
00:11:36.990 --> 00:11:47.250 Jeremiah Fox: Right so splitting it up like this is for currency and it's a little bit more specific versus I will talk about it a little later after we're going to take our first break in just a minute um.
00:11:47.820 --> 00:12:02.250 Jeremiah Fox: I am curious to get your take after we come back on on the use of an NF t's and and, like the bitcoin wallet for for marketing purposes, where it's not attached necessarily to.
00:12:03.540 --> 00:12:14.280 Jeremiah Fox: A piece of art or currency, but more like an exclusive experience, perhaps, have you heard of people utilizing and tease and and crypto that way.
00:12:15.540 --> 00:12:25.290 Ryan Baptiste: um I think it's getting there so they're starting to build others a crypto boxes, where you can build your own real estate and you can build museums and then you can put your energies inside these virtual.
00:12:26.310 --> 00:12:31.230 Ryan Baptiste: places so so that's cool so yeah I think it's coming it's not quite there yet, but it's it's going to come for sure.
00:12:31.260 --> 00:12:38.160 Jeremiah Fox: Well, and and that's another conversation, want to have because when we got into that conversation and lance's room, I really got excited um you know.
00:12:38.880 --> 00:12:48.060 Jeremiah Fox: So that is like you know actually having a token connected to a building or a business, which is a whole nother thing.
00:12:48.420 --> 00:13:01.740 Jeremiah Fox: Someone was talking to me recently about just strictly using it for marketing purposes, where say you have this business, and you have a very exclusive tier like kind of a VIP service.
00:13:03.180 --> 00:13:06.120 Jeremiah Fox: And maybe you only create like five tokens for it.
00:13:07.290 --> 00:13:14.460 Jeremiah Fox: And people you know they have to purchase these tokens or you give them away, however, you want to you know, however, you want to use it, but.
00:13:14.970 --> 00:13:22.530 Jeremiah Fox: When they redeem they're not getting a piece of your business or anything physical or tangible it's literally like an.
00:13:22.800 --> 00:13:31.770 Jeremiah Fox: It could be like an experience with you so say like take care of vintage shop, for example, instead of him issuing you know I do these things in the past where he'd have these contests and people got to.
00:13:32.760 --> 00:13:46.710 Jeremiah Fox: I got to common like hang with him for a week and you know be be part of the team and and get all that expertise as it applies to their business kind of utilizing a an nfc and that way, have you heard of anybody doing that yet.
00:13:48.840 --> 00:13:54.630 Ryan Baptiste: No, not not really I mean I guess there's this this big cloud or it's kind of like a fans.
00:13:54.810 --> 00:13:57.000 Jeremiah Fox: Social network that so.
00:13:57.060 --> 00:14:08.640 Ryan Baptiste: yeah it's really cool and it's going to be really cool things that like you know issue a token and I by the token from a dispenser or whatever, and I can call it my favorite celebrity and talk to 15 minutes or something so yeah absolutely.
00:14:08.640 --> 00:14:14.700 Jeremiah Fox: Right right yeah you just using it kind of exclusively exclusively for marketing, as opposed to.
00:14:15.480 --> 00:14:28.500 Jeremiah Fox: Investment, you know where like you're trying to get investors and to you know buy into your building or to your business or whatever so okay cool well let's pick up that with that and just a moment we're going to take a quick break everybody hang tight we'll be right back.
00:17:01.260 --> 00:17:11.910 Jeremiah Fox: Welcome back everybody if you're just tuning in you're listening to the entrepreneur web i'm your host share my thoughts talking with Brian Baptist today getting the dirty in deep on nfl teams cryptocurrency and bitcoin.
00:17:12.630 --> 00:17:21.240 Jeremiah Fox: We were talking earlier in the show just kind of the foundational aspects of crypto and an empty blockchain and how it supports.
00:17:22.050 --> 00:17:31.500 Jeremiah Fox: These these these markets these whatever however you describe it, these spaces these at the real existences in the universe.
00:17:31.830 --> 00:17:45.480 Jeremiah Fox: um but we were just starting to discuss how, aside from it just being you know, a currency or an empty attached to something like a baseball card or a piece of art, even a business i'm.
00:17:45.990 --> 00:17:49.170 Jeremiah Fox: also being used for marketing purposes and some of the I really.
00:17:49.710 --> 00:18:08.340 Jeremiah Fox: And it came up in lance's room also, unlike the got me super excited like the myriad of ways, that this is really that it could be used we're really just scratching the surface of all the different ways that that NF tease and and the bitcoin wallet can be used in terms of securing.
00:18:09.570 --> 00:18:16.320 Jeremiah Fox: You know just distribution of things, even down to an experience like you were just saying you could you could purchase.
00:18:16.680 --> 00:18:23.880 Jeremiah Fox: An empty to like speak to one of your favorite you know actors or or sports icons I mean think about is already.
00:18:24.360 --> 00:18:35.850 Jeremiah Fox: being connected to it man, if these guys get on that trip where it's like you know baseball cards or basketball cards or whatever like whoever's hot hot hot they get offered in empty for like.
00:18:36.870 --> 00:18:39.360 Jeremiah Fox: a phone call or like a.
00:18:40.440 --> 00:18:49.980 Jeremiah Fox: lesson, you know come to come to the ball field and, and you know see how they train right like it could really the lid could really blow on this.
00:18:51.060 --> 00:18:55.560 Ryan Baptiste: yeah absolutely it's gonna be it's gonna be really cool experience to see what see what happens right.
00:18:55.950 --> 00:19:02.400 Jeremiah Fox: And then, one thing that came up in our discussion was the idea of real estate and then fts in real estate so.
00:19:02.760 --> 00:19:06.990 Jeremiah Fox: Again i'm asking like lay person questions, because this is just like my initial thoughts on it.
00:19:07.350 --> 00:19:14.850 Jeremiah Fox: But just tell me if i'm completely way off on this so say like you take a block, I mean I live in a pretty you know expensive part of brooklyn.
00:19:15.780 --> 00:19:22.350 Jeremiah Fox: You know a lot of classic old homes but they go, you know 12 foot wide homes go for over a million dollars here it's crazy.
00:19:22.800 --> 00:19:42.390 Jeremiah Fox: um so take like a block in my neighborhood where there's you know 25 realms they're all you know go on for a million or more, and say you have like 500 grand to invest in real estate um instead of just putting that into one building if.
00:19:43.920 --> 00:19:58.860 Jeremiah Fox: All of those homes had tokens available almost like monopoly, you could invest in each one of those homes, instead of just putting your money into one is that is that, like feasible, is that is that kind of at least part of the way it could work.
00:19:59.340 --> 00:20:04.020 Ryan Baptiste: yeah I think I think absolutely, so I think the blockchain is going to fractionalized a lot of asset investing.
00:20:05.130 --> 00:20:06.930 Ryan Baptiste: I don't know if you ever heard of the company rally road.
00:20:07.860 --> 00:20:08.670 Jeremiah Fox: can say I have.
00:20:08.880 --> 00:20:19.500 Ryan Baptiste: So they do fractional investing and like baseball cards and any type of memory be earlier cars or ferrari's you know what I mean, so you can buy like a half a percent of Ferrari.
00:20:19.830 --> 00:20:22.410 Ryan Baptiste: And if you don't even you don't even have the whole baseball card.
00:20:22.770 --> 00:20:31.980 Ryan Baptiste: Right correct so it's actually I think I believe they for each asset, they own into its own llc or company and that's how they're able to do it.
00:20:32.310 --> 00:20:43.050 Jeremiah Fox: Right right so How does that How does that work in this whole in this whole scenario so you'd have to have I mean their taxes being paid on this like, how is it going down.
00:20:44.040 --> 00:20:48.300 Ryan Baptiste: For well, while rally real doesn't actually use the blockchain so um.
00:20:49.590 --> 00:20:59.400 Ryan Baptiste: I don't I don't exactly know of any investments, right now, where you can fractionalized real estate on the blockchain decentralized because, especially in the US, because there's so many kyc.
00:21:00.150 --> 00:21:09.060 Ryan Baptiste: And in time monitoring laundering laws, so I think in the US it's kind of there's a lot of regulation so we'll see how that plays out.
00:21:09.570 --> 00:21:17.160 Jeremiah Fox: Well, like there's so there's a lot of regulation in certain aspects of this, but then like none and others, so you were you were describing how.
00:21:18.330 --> 00:21:23.070 Jeremiah Fox: Some cards in particular have had multiple tokens issued for them.
00:21:24.870 --> 00:21:35.700 Jeremiah Fox: Right like there's certain like high profile things or just or maybe even just things you've been involved with in were like multiple tokens and been issued so who's like who's the real SLIM shady you know.
00:21:35.970 --> 00:21:37.200 Ryan Baptiste: yeah exactly.
00:21:37.860 --> 00:21:38.100 Jeremiah Fox: yeah.
00:21:38.670 --> 00:21:48.270 Ryan Baptiste: Go ahead yeah so tokens can be can be an integer or divisible So if you have one token someone might be able to have a token or a quarter token or attend to the token.
00:21:49.380 --> 00:21:53.670 Ryan Baptiste: So the person who issues, the token usually has full control over the token.
00:21:54.780 --> 00:22:05.580 Jeremiah Fox: But has there been some fraud within the issuing of tokens like, especially for enough to like attached to like a physical like say it's like don mattingly these tops rookie card.
00:22:06.390 --> 00:22:15.780 Ryan Baptiste: Yes, so that, so the end if teas and physical items are somewhat new so um no one was really doing them and now it's starting to pick up steam so there's a lot of different physical items starting to be attached.
00:22:16.440 --> 00:22:22.620 Ryan Baptiste: To tokens but before it's just mostly just digital token trading in the platform itself.
00:22:23.880 --> 00:22:28.140 Ryan Baptiste: And yeah there's been a lot of a lot of fraud cases and then, especially with define a theorem.
00:22:29.850 --> 00:22:43.680 Ryan Baptiste: A lot of a lot of sketchy things they called red rock pools, where the price might be $100 and people providing liquidity specially the person who issue the tokens and then they go and sell their tokens and the price will go from $100 down to 50 cents in a matter of minutes.
00:22:44.400 --> 00:22:50.400 Jeremiah Fox: And is that part of the reason for some of the fluctuate the fluctuations in in the value of cryptocurrency.
00:22:51.300 --> 00:23:01.740 Ryan Baptiste: I think it's mostly well, a lot of it, I think, like a bitcoin is a little more stable, even though it's gone from 4000 60,000 to 34,000 So if you want to call that stable but.
00:23:03.420 --> 00:23:04.920 Ryan Baptiste: i'm not so much.
00:23:06.090 --> 00:23:14.670 Ryan Baptiste: bitcoin per se, but some of the smaller ones where majority of tokens are held by large folders absolutely comb whales in the in the crypto world.
00:23:15.990 --> 00:23:22.770 Jeremiah Fox: um and I think was it you that was describing this scenario is like imagine you know you're at home and you realize, you need milk.
00:23:23.160 --> 00:23:34.350 Jeremiah Fox: And you look up the price of milk before you leave and then by the time you get to the store the prices like skyrocketed and you're like shit I don't want to buy milk anymore back home, and the new book is that galaxy you that was painting that I.
00:23:34.350 --> 00:23:40.470 Ryan Baptiste: know that that wasn't me but that's actually the case for the digital dollar and the more creating greater demand for it.
00:23:40.710 --> 00:23:41.970 Ryan Baptiste: it's not all Salvador the.
00:23:42.450 --> 00:23:49.020 Ryan Baptiste: Big recently this month made bitcoin legal tender in their country, and I believe El Salvador and majority of people.
00:23:49.950 --> 00:23:59.280 Ryan Baptiste: Hold US dollars, as their currency, and now they start use bitcoin but, like, I was saying, if bitcoin goes from 60,000 to 30,000 that doesn't really help the people.
00:24:00.000 --> 00:24:12.720 Ryan Baptiste: short term, they just lost half their money so right to get the United States, issued a digital dollar people would use bitcoin it would create greater greater demand for the dollar for for stability in other countries.
00:24:13.230 --> 00:24:22.950 Jeremiah Fox: And you know y El Salvador chose to do that, I mean what's going on in their social, political environment right now that would would encourage them to do that.
00:24:24.090 --> 00:24:28.830 Ryan Baptiste: i'm not i'm not 100% sure why why they did it, but what they did it.
00:24:30.360 --> 00:24:36.060 Ryan Baptiste: And I think it's because they're the currency collapse and and that they will attract new new tech to.
00:24:36.720 --> 00:24:46.590 Ryan Baptiste: To their country so so they're trying to they're trying to get more bitcoin inside their borders and that they believe bitcoin inside their borders is going to make their currency more valuable that.
00:24:46.710 --> 00:24:57.450 Jeremiah Fox: they're trying to piggyback off the stability of the US dollar because their own currency collapsed and just it's another way to reinforce that instead of just like hoarding actual physical dollars.
00:24:58.200 --> 00:25:05.880 Ryan Baptiste: yeah correct and obviously what you see what's going on with the Federal Reserve and how much money's been printed recently, you know how how secure is the US dollar itself.
00:25:06.150 --> 00:25:06.660 Ryan Baptiste: So.
00:25:06.690 --> 00:25:21.060 Ryan Baptiste: You know, I think, El Salvador saying you know if we can get bitcoin inside or or borders that will bring more value inside our borders, which will create more economic activity, which in turn will create more taxes for us and help people build better services, so they can live better.
00:25:21.690 --> 00:25:25.320 Jeremiah Fox: And what's your take on how like do you think.
00:25:27.120 --> 00:25:34.170 Jeremiah Fox: Creating a digital dollar will help stabilize um you know, like in the face of what the feds doing, especially like.
00:25:34.620 --> 00:25:50.340 Jeremiah Fox: Over the last 15 months I mean they've just had to do like massive bailouts on on super small level to like the super huge level if they don't make a decision like this if they don't take a step like this do you think it's going to impact the economy in the US dollar negatively.
00:25:51.360 --> 00:25:54.330 Ryan Baptiste: Oh yeah absolutely 100% eggs if they don't do it someone else is going to do it.
00:25:54.780 --> 00:25:59.520 Ryan Baptiste: And if someone else is holding another dollars and that creates Gary demand for their dollars and not our dollars.
00:25:59.790 --> 00:26:09.120 Ryan Baptiste: So a lot of bitcoin maximalist they don't necessarily like the US dollar or they say it's bad or this net you know I i'm US citizen and I like to US dollar because.
00:26:09.390 --> 00:26:15.090 Ryan Baptiste: You know that's that's who we are and that's what made our country and we've been very lucky to have the US dollar compared to all these other countries where.
00:26:15.330 --> 00:26:28.350 Ryan Baptiste: US dollars, the global reserve, so I think the Fed has to do something and I think they should issue US dollar so people abroad who trade digital currencies, instead of holding on the stable coins can hold the US dollar.
00:26:29.760 --> 00:26:37.380 Jeremiah Fox: very interesting um and does this like precious materials like gold play into this at all.
00:26:37.950 --> 00:26:52.530 Ryan Baptiste: Well bitcoin a lot of people refer to it as a digital gold i'm sure so um you know what I mean like no one argues that having more gold inside your borders is is creating a devalued dollar creating competition against it, so why would digital gold be any different.
00:26:52.680 --> 00:26:56.940 Jeremiah Fox: Right, I mean there's the Bank of England still set the price of gold it's still there racket.
00:26:57.810 --> 00:26:59.280 Ryan Baptiste: i'm not i'm not sure about that.
00:26:59.520 --> 00:27:08.370 Jeremiah Fox: They did for a while it's been a while, since i've looked up any of these things, as well as kinda like fascinated with it like 10 years ago, but I think at least like as recently as 10 or 15 years ago.
00:27:08.730 --> 00:27:20.280 Jeremiah Fox: They were still setting the price of gold, but most others are not attached to precious metals anymore it's it's based on something else, but just trying to understand all this a little bit deeper.
00:27:21.480 --> 00:27:31.260 Jeremiah Fox: Very cool all right let's take another break just kind of process all this let's try to come up with some more challenging questions on the next segment hang tight everybody will be right back.
00:30:24.390 --> 00:30:29.070 Jeremiah Fox: Alright, I thought of it, I got a great question what is X or.
00:30:30.750 --> 00:30:44.880 Ryan Baptiste: So so exercise is my is my card company name but that's my telegram handle name X and X CP is the Sep protocol so you're not allowed to issue a assets inside the protocol so.
00:30:45.420 --> 00:30:57.690 Ryan Baptiste: Anything that starts with an A So if you want to make an atom and if you couldn't you couldn't do that on the counterparty protocol so you got to put an x before it so you'd have to do X and so that's why my name is extra Nice.
00:30:57.720 --> 00:31:00.630 Jeremiah Fox: dope name he'll tell us about this company and what's going on.
00:31:01.470 --> 00:31:15.780 Ryan Baptiste: yeah so what we're doing is we had physical cards printed and we added a bitcoin key on the back of the card that's like a scratch off lottery ticket and they hold some of the original bitcoin and if he's ever so.
00:31:16.380 --> 00:31:21.900 Ryan Baptiste: there's some of the earliest, and if tease that ever existed in bitcoin or or digital history.
00:31:22.830 --> 00:31:25.080 Jeremiah Fox: And, and what kind of cards, have you printed.
00:31:26.250 --> 00:31:43.080 Ryan Baptiste: So we have spells of Genesis and we have rare epic cards so a whole lot for you, so this is actually the, this is the scp card right here and that's the spells of Genesis card, and this was issued in 2015 and there's total supply but thousand of them.
00:31:44.700 --> 00:31:54.510 Jeremiah Fox: And when like i've seen the boxes, like in the pictures that you sent me and there's like packs is that just one card and they're sealed.
00:31:55.320 --> 00:32:03.030 Ryan Baptiste: yeah so we have the we have the card so every card, sealed and so box and then we're going to be selling packs of them and there's four four cards inside the box.
00:32:03.270 --> 00:32:08.130 Jeremiah Fox: And what what's what's a msrp this.
00:32:09.000 --> 00:32:11.220 Ryan Baptiste: yeah, so I think a pack of cards go start at.
00:32:11.220 --> 00:32:14.550 Jeremiah Fox: 1299 $12 and 99 cents.
00:32:14.580 --> 00:32:15.510 Ryan Baptiste: Know 1200 90.
00:32:15.540 --> 00:32:16.050 yeah.
00:32:18.990 --> 00:32:21.150 Jeremiah Fox: it's not it's not a packet don Ross right.
00:32:23.430 --> 00:32:32.700 Ryan Baptiste: yeah so some of the some of the nfl teams in counterparty selling between 30 and $50,000 for you, so if you throw that inside of card.
00:32:33.210 --> 00:32:45.450 Ryan Baptiste: it's still worth at least 30 to 50,000 and then you have cheaper ones where you can start collecting for for a few dollars a card i'm just the nfc is not the physical extra cards right so yeah people should check it out.
00:32:46.020 --> 00:32:47.190 Jeremiah Fox: And i'm.
00:32:48.240 --> 00:32:57.960 Jeremiah Fox: Is the hope that these turn investment like and an increase with in price over time, like the way fine wine ages.
00:32:59.160 --> 00:33:08.640 Ryan Baptiste: I would think that would happen, but i'm not gonna tell people that's a speculating investment you and me it's more just for the love of the cards and then, if to us and the owner piece of history.
00:33:09.120 --> 00:33:12.330 Jeremiah Fox: Right so right now it's more like just establish Namaste.
00:33:13.170 --> 00:33:17.040 Ryan Baptiste: yeah it's just like I almost don't even want to sell the cars, because I just want to model myself.
00:33:19.470 --> 00:33:20.850 Jeremiah Fox: Well then, how are you going to make money.
00:33:21.840 --> 00:33:23.490 Ryan Baptiste: So you know I want to spread the wealth, so I.
00:33:23.610 --> 00:33:30.030 Ryan Baptiste: started making these cards because using the counterparty protocol or right bitcoin if Jesus is somewhat difficult and cumbersome.
00:33:30.360 --> 00:33:37.770 Ryan Baptiste: You know just for someone new to pick it up and start doing it it's it's not going to happen, so if you can get a piece of bitcoin history or piece of.
00:33:38.070 --> 00:33:45.690 Ryan Baptiste: bitcoin art, one of the first ever and it can show up right at your doorstep, and you can display it on your in your House or on your shelf I think that's really cool.
00:33:46.530 --> 00:33:58.770 Jeremiah Fox: And you were saying and lance's room that some people just they just collect the tokens and keep them in their wallet and don't even worry about the physical the tangible piece until like later on down the road right.
00:33:59.190 --> 00:34:07.770 Ryan Baptiste: you're correct so most of the diffusers no physical piece for it so so my cards The nfc book The code is then of tea and the cards just represents that token itself right.
00:34:08.190 --> 00:34:12.720 Jeremiah Fox: So without the without the actual token, the card is pretty valueless.
00:34:13.410 --> 00:34:15.000 Ryan Baptiste: yeah I don't think it's that cool without the token.
00:34:15.060 --> 00:34:17.190 Jeremiah Fox: yeah then we're talking like 1299 like.
00:34:17.400 --> 00:34:19.470 Ryan Baptiste: yeah exactly that sense um.
00:34:19.590 --> 00:34:27.750 Jeremiah Fox: So what are some of the then then explain a little further what are some of the things people hold tokens, for that is like not even tangible what What would it be then.
00:34:28.320 --> 00:34:37.800 Ryan Baptiste: it's it's hard to explain it's just it's like collecting it's like collecting something you love you know what I mean you just get new tokens you get excited about it and what's cool is it's really transparent so.
00:34:38.040 --> 00:34:42.120 Ryan Baptiste: You can see what other people have, and you can you can trade them back and forth so.
00:34:42.840 --> 00:34:49.380 Ryan Baptiste: it's just kind of a fun aspect, but you know I think in the future, you hold these tokens people will be like wow you know what I mean.
00:34:49.710 --> 00:35:01.410 Ryan Baptiste: You hold this token you know I I hold a couple of the first nfc art pieces ever like literally number one so it's kind of cool just to say you have because you know it is scarcity, is based on on.
00:35:02.160 --> 00:35:07.920 Ryan Baptiste: On math on the blockchain so uh only X amount of people can own that token ever it's not going to change.
00:35:08.340 --> 00:35:11.730 Jeremiah Fox: Have you seen the value of some of those increase recently.
00:35:12.240 --> 00:35:18.150 Ryan Baptiste: Oh yeah hundred percent I mean people kind of started off with the $69 million sale, and I think that's drastically overpriced but.
00:35:18.390 --> 00:35:26.460 Ryan Baptiste: But whatever but um yeah 100% they're starting to they're starting to come back so cards, you could have bought for say five or $10 are now selling for four or $500.
00:35:26.790 --> 00:35:28.320 Jeremiah Fox: Right, just because of.
00:35:29.430 --> 00:35:31.560 Jeremiah Fox: The token attached to it, just like.
00:35:32.100 --> 00:35:34.560 Ryan Baptiste: The token, and it really helps to be in a bull market.
00:35:34.590 --> 00:35:42.090 Ryan Baptiste: Because when people start making a bunch of money and crypto and the price goes from 4000 to 50,000 now they have all this newfound wealth and spread it around.
00:35:43.020 --> 00:35:49.260 Jeremiah Fox: And then, whatever I know like with with certain Christos extraction is is not as easy.
00:35:50.910 --> 00:35:56.370 Jeremiah Fox: In some scenarios is Is that true within fts also.
00:35:57.120 --> 00:35:57.270 Where.
00:35:58.350 --> 00:36:04.470 Jeremiah Fox: You just like accumulated all this well, through it, but like now, how do you how do you if you want to cash out how do you do that.
00:36:05.040 --> 00:36:13.440 Ryan Baptiste: yeah so I mean it's really all about the liquidity of being able to sell your token so i'm look coded he's always going to be there for any investment to cash out.
00:36:15.420 --> 00:36:27.000 Ryan Baptiste: And there's so many different change now in different wallets it's it's it's it's it's a lot of work to keep track of everything, and I think eventually it's all going to come together and be in the same spot where you can you can do transfer from one team to another.
00:36:27.360 --> 00:36:32.820 Jeremiah Fox: Right, but right now, you kind of gotta jump through hoops and some people, just like can't even get it done is that.
00:36:33.180 --> 00:36:36.360 Ryan Baptiste: Is that true yeah yeah major hoops absolutely yeah.
00:36:36.930 --> 00:36:39.750 Jeremiah Fox: The almost like a country hopping to try to.
00:36:40.770 --> 00:36:42.300 Jeremiah Fox: To try to catch your checks.
00:36:42.540 --> 00:36:47.910 Ryan Baptiste: yeah and then you, and then you lose your if you lose your code then your your assets are all gone, you can never recover them so.
00:36:48.540 --> 00:36:51.090 Jeremiah Fox: Right you meant, you mentioned that like if you're if you're.
00:36:51.210 --> 00:36:54.870 Jeremiah Fox: If the codes get exposed, then the whole thing is valueless.
00:36:55.380 --> 00:37:00.660 Ryan Baptiste: Correct yeah so I mean I like to call bitcoin the currency of digital security.
00:37:02.430 --> 00:37:10.050 Ryan Baptiste: Because you know, the only reason bitcoin has any values, because it's secure so blockchain it's not secure has zero value whatsoever.
00:37:11.580 --> 00:37:14.550 Jeremiah Fox: So it's it's kind of click ish and away.
00:37:16.920 --> 00:37:17.880 Ryan Baptiste: We mean by click ish.
00:37:18.120 --> 00:37:28.350 Jeremiah Fox: Like it's it's in like you got to be in the crowd you got to be in the club and and you gotta like it's like fight club like can't talk about it and that's what keeps it secure.
00:37:29.610 --> 00:37:41.400 Ryan Baptiste: yeah well well the north Dakota so will the mind right blockchain secure, but the code itself yeah that's like the number one rule yeah if you have to fight club or blockchain club rule we don't share your your past fraser key.
00:37:41.520 --> 00:37:42.240 Jeremiah Fox: hundred right.
00:37:42.390 --> 00:37:56.370 Jeremiah Fox: So you got you got the code which stored in the wallet but then that pass code or key is what you really want to hold sacred, because if somebody can get in and they have access to all of your codes and once those codes are are visible.
00:37:57.810 --> 00:38:00.180 Jeremiah Fox: There goes your that goes all your hard earned money.
00:38:00.510 --> 00:38:15.030 Ryan Baptiste: yeah 100% so that so that sort of the car the extra car to the physical card actually holds the pass rate to the law itself so each card has its own wallet and then and if teachers sits inside the wallet So if you can open up that wallet you can send it, and if you somewhere else.
00:38:15.180 --> 00:38:16.620 Jeremiah Fox: Right and then it's gone.
00:38:17.580 --> 00:38:17.760 Jeremiah Fox: yeah.
00:38:17.790 --> 00:38:18.810 Ryan Baptiste: No, no, no, read.
00:38:19.170 --> 00:38:29.520 Jeremiah Fox: or or or valueless completely and and we discuss to people like you know you've got people like Gary van der chuck who just started like drawing like.
00:38:30.270 --> 00:38:43.020 Jeremiah Fox: You know, animal figures on wax boards and issuing an empty forum and people are like you know, trying to kill for these things, what what's the story behind something like that, I mean at least people's like a real artists.
00:38:45.750 --> 00:38:53.880 Jeremiah Fox: Why is this, like all the craze why they're like the hundreds of thousands of people like tuned into this thing and it's just like stick figures I don't get it.
00:38:54.750 --> 00:39:08.520 Ryan Baptiste: Yes, so um so Gary I mean it's a real inspirational signature like people look up to him, so much so, I guess that they can say Oh, I have this token that Gary made and it gives them a connection to Gary and and this that's pretty much it.
00:39:08.910 --> 00:39:13.800 Jeremiah Fox: And it so it's just like his reputation it's literally like his fame that is backing it.
00:39:14.700 --> 00:39:23.790 Ryan Baptiste: yeah I would, I would say so it's just like you know what I mean everything's perception so right even even money anything's perceptions based on something what something's worth.
00:39:24.060 --> 00:39:41.400 Jeremiah Fox: So, in a figurative kind of way his all of his fans are like the blockchain for the value of what he's issuing I mean I know not not actually but, just like the fact that these all these people like look up to him that's like that's the that's like the currency.
00:39:42.420 --> 00:39:51.030 Jeremiah Fox: The popularity currency behind what he's doing and his ability to issue tokens for his stick figures.
00:39:51.660 --> 00:39:51.930 In.
00:39:53.190 --> 00:39:53.550 Ryan Baptiste: 100.
00:39:54.840 --> 00:40:00.480 Jeremiah Fox: i'm not trying to bash him I love him, just like I see this shit i'm scratching my head and i'm just going like.
00:40:01.350 --> 00:40:01.950 Jeremiah Fox: I don't know I.
00:40:02.130 --> 00:40:03.990 Ryan Baptiste: I bought, I have a funny story about that so.
00:40:04.020 --> 00:40:04.530 Jeremiah Fox: Go for it.
00:40:04.560 --> 00:40:12.240 Ryan Baptiste: Go so Gary a couple years ago he he was he was rolling the baseball card collecting you still is, or whatever and.
00:40:12.960 --> 00:40:17.910 Ryan Baptiste: He was shown, and I was like Gary I treated the first tone is Wagner baseball card token ever.
00:40:18.330 --> 00:40:28.230 Ryan Baptiste: And I posted it to him and he didn't even like you didn't like it, he and saying to it that's like oh come on Gary you gotta you know, give me a like at least and nothing, and then a couple days ago is washing his and if he's on.
00:40:28.920 --> 00:40:39.840 Ryan Baptiste: You know, as podcasts i'm an excuse or something of that sort and usually I don't I don't give any hints of what i'm actually looking into at the time, so maybe he saw that and maybe maybe it got his mind going to use back then.
00:40:39.960 --> 00:40:52.320 Jeremiah Fox: yeah yeah i'm sure he's kind of felt that way like he sees something that's like he thinks gonna be valuable he's sharing he's going in now because he's already got the market cornered he's like I can do whatever I want you'll you'll never catch me.
00:40:54.510 --> 00:41:02.550 Jeremiah Fox: that's funny I mean I have like a checkered past with baseball cards, so the whole thing is kind of sensitive for me, I have a have a juvenile.
00:41:03.660 --> 00:41:06.810 Jeremiah Fox: Grand larceny felony stealing Facebook.
00:41:08.760 --> 00:41:09.630 Jeremiah Fox: This was like.
00:41:10.830 --> 00:41:20.760 Jeremiah Fox: What year was this who must have been like 1991 I was like 14 but we had some crazy crazy cards and we got busted you know course.
00:41:21.900 --> 00:41:40.590 Jeremiah Fox: Like people are talking about this i'm like I gotta I gotta turn my head the way, but people are also doing this in in like it's like sponge Bob cards and stuff like that right it's garbage pail kids if I am I crazy or did I see people like issuing tokens for garbage pail kids.
00:41:40.920 --> 00:41:48.510 Ryan Baptiste: yeah there's there's all kinds of art going on right now with the nfc space so yeah yeah I saw the garbage pail kids to kind of cool.
00:41:49.080 --> 00:41:56.040 Jeremiah Fox: So we're calling we're calling garbage pail kids and baseball cards are at this point is that what is that, where society is.
00:41:57.090 --> 00:41:58.770 Ryan Baptiste: everyone's an artist and then, if you are.
00:41:58.980 --> 00:42:11.160 Jeremiah Fox: Right exactly well that's kind of what I like getting at is like it like I can barely write my name, like my handwriting is garbage and i'm watching, like all these people they're like I just issued a nifty I just created it and i'm like.
00:42:12.990 --> 00:42:20.370 Jeremiah Fox: All right, I mean I like I like leveling the playing field, but you know it's a little it's just a little funny when you say it's like slightly funny.
00:42:20.760 --> 00:42:29.460 Ryan Baptiste: yeah it's there's there's so many now that's why i'm so bullish on the bitcoin entities in the rare pepys because they're they're originals they're like at first of the first so.
00:42:31.560 --> 00:42:32.310 Ryan Baptiste: You know.
00:42:32.490 --> 00:42:43.500 Jeremiah Fox: In between yeah I appreciate that I appreciate that you're attaching like some history and an emphasis on stability to the whole thing, as opposed to just like chicken scratch and.
00:42:44.820 --> 00:42:53.340 Jeremiah Fox: And how does it, we have to say one more break what is one more quick question, so I when I first learned about it, I was just I just assumed, it was um.
00:42:55.350 --> 00:43:09.900 Jeremiah Fox: It was it was going to apply more so to reusing repurposing someone's art digitally but that's not really the case, it has nothing to do with like you, you know, using somebody.
00:43:10.740 --> 00:43:20.400 Jeremiah Fox: art, for you know you're you know, not necessarily your website, but you know, like the banner on your Twitter page or it really has nothing to do with that.
00:43:21.930 --> 00:43:27.450 Ryan Baptiste: No, no, but I mean it could it could go their way obviously it's going to go that way where everything's organized.
00:43:27.690 --> 00:43:39.270 Jeremiah Fox: Right, so you wouldn't even be able to like embed an image that wasn't yours originally like that's kind of what I thought of it first and then everything took this like left turn on me, I was like Oh well, I really need to like.
00:43:39.720 --> 00:43:48.600 Jeremiah Fox: do some research on this and understand it, but I mean one thing that Gary says is that, like in fts are going to change the way the Internet works and that's kind of why I was thinking that like.
00:43:49.110 --> 00:43:52.920 Jeremiah Fox: At a certain point you're going to have to pay even like you said if is fractionalized.
00:43:53.250 --> 00:43:58.680 Jeremiah Fox: Is that kind of how you think it's you see it playing out where it's like I want to use this like this image.
00:43:58.950 --> 00:44:07.590 Jeremiah Fox: In something digitally that's just mine not not monetizing I just wanna I just want to you know I want to I want it to be there, like if you wanted to repost somebody.
00:44:08.130 --> 00:44:16.980 Jeremiah Fox: thing now, you can just take a screenshot of it, and the way you go you go to their instagram profile boom, but like do you think people are going to start to fractionalized especially like high performing posts.
00:44:17.460 --> 00:44:23.700 Jeremiah Fox: And like, if you want to reuse that you're going to have to you have to pay the pony up a little bit, and if you don't they're gonna be able to see you.
00:44:24.510 --> 00:44:33.330 Ryan Baptiste: yeah absolutely it's going to empower a lot of content creators, in the future for sure, no, you know if you want to read someone's post they might want five some token so.
00:44:33.540 --> 00:44:39.000 Ryan Baptiste: Right it's kind of cool and and it's going to bring a lot of new revenue streams for.
00:44:39.060 --> 00:44:48.330 Jeremiah Fox: yeah I mean, I have no problem with it kind of blows me away like when I first sending them an older dude you know, I was like kind of slow to the Internet, especially social media when I realized, it was like.
00:44:48.930 --> 00:45:03.270 Jeremiah Fox: You could just keep using people's stuff and they're not getting paid for it at all like that's crazy, you know and as long as you're not selling it you can't get sued so if you're coming from an artistic background, too, I think that's I think it's very empowering for artists.
00:45:04.290 --> 00:45:09.780 Jeremiah Fox: And they don't you know get screwed the way they do all the time now it's really crazy another eye opening.
00:45:10.920 --> 00:45:19.140 Jeremiah Fox: Little tidbit there cool, thank you for helping me clear that up i'm going to take one more break I will come right back, and I want to talk about like.
00:45:19.440 --> 00:45:27.990 Jeremiah Fox: The or like kind of your predictions for the future, where you where you think some of these things may take us all right so hang tight everybody and we'll come back to the future.
00:45:32.490 --> 00:45:33.210 And my scene.
00:47:50.130 --> 00:47:57.600 Jeremiah Fox: Alright case in point on the break I opened up Twitter and my boy Ryan lowes ryan's coffee house he's in Florida as well.
00:47:58.770 --> 00:48:01.920 Jeremiah Fox: Just posted this guy oh no where did it go.
00:48:04.200 --> 00:48:13.260 Jeremiah Fox: It just moved there he goes found a face mask in FT had to get it as a reminder of the pandemic and assemble of a crazy exciting changing year.
00:48:14.790 --> 00:48:25.590 Jeremiah Fox: that's where we're at people like what does that mean what does that mean for our future what where are we going I think that's a great tweet Ryan if you're listening, but.
00:48:27.660 --> 00:48:29.580 Jeremiah Fox: What what does that really mean.
00:48:33.390 --> 00:48:33.960 Ryan Baptiste: I don't I don't.
00:48:35.370 --> 00:48:35.550 Jeremiah Fox: know.
00:48:37.050 --> 00:48:45.030 Jeremiah Fox: What like how How is this going to impact our our lives going forward and, and I mean we talked about you know.
00:48:46.380 --> 00:48:54.870 Jeremiah Fox: Obviously cryptocurrency and bitcoin art fractionalized thing for investment purposes for real estate for banks for like passive income.
00:48:55.380 --> 00:49:11.550 Jeremiah Fox: marketing purposes, but like I just don't even know what that tweet means he found a face mask and empty and he had to get it just for memorabilia so it's just gonna like forever have this it probably will never like be valuable, but it's just like it's it's just like a collectible.
00:49:13.200 --> 00:49:20.790 Ryan Baptiste: Yes, so I think Paul Paul Graham always talks about how everything starts as a as a game on, and then it turns into something important so.
00:49:21.090 --> 00:49:21.390 Jeremiah Fox: I.
00:49:21.630 --> 00:49:24.900 Ryan Baptiste: I think right now everything's just been built on the different layers.
00:49:25.920 --> 00:49:34.350 Ryan Baptiste: And the protocols are being built to really make crypto useful in the future, but right now it's mostly just a trading mechanism and speculation and liquidity.
00:49:35.040 --> 00:49:43.200 Ryan Baptiste: platforms and that's what's being built out first and then the real world use cases will will come second, so I think and if these were the original.
00:49:43.830 --> 00:49:53.400 Ryan Baptiste: Like first mainstream use of the blockchain technology and now started being implemented in games and virtual realities and and I think that's that's where we're heading.
00:49:55.230 --> 00:50:06.510 Jeremiah Fox: crazy crazy crazy and then what what are your hopes, like, for your company, do you have other ambitions within a tease or this is you're just kind of going to hold on hone in on this.
00:50:07.440 --> 00:50:19.260 Ryan Baptiste: yeah so I I really liked the counterparty protocol, so I think I talked about it, but the rights of bitcoin data rich data inside bitcoin like to create empties and tradable tokens inside bitcoin itself so.
00:50:20.880 --> 00:50:41.940 Ryan Baptiste: part of my card company X or co is is just getting new users to counterparty and getting the be able to collect and fts physically and easier than then they would have to be digitally so I really hope that in the future as as the regulation, you know progresses.
00:50:43.980 --> 00:51:00.450 Ryan Baptiste: That that they use the counterparty protocol or bitcoin itself to secure valuable assets inside bitcoin so maybe you can secure bonds inside bitcoins stocks houses, you know anything super valuable would be the perfect place to store inside bitcoins.
00:51:00.990 --> 00:51:08.400 Jeremiah Fox: So do you envision that almost as like another company where you're you're you're almost like a financial advisor a.
00:51:09.420 --> 00:51:11.430 Jeremiah Fox: hyper focusing on that element.
00:51:12.390 --> 00:51:23.340 Ryan Baptiste: yeah so i'm not really 100% sure where it's going to go but i'm just going to keep keep plugging away and keep keep moving forward and try to progress the protocol so we'll just have to see what the future entails.
00:51:23.940 --> 00:51:37.920 Jeremiah Fox: And then one last question before we go if someone had some money to play with Where would you Where would you advise them to to go with it.
00:51:39.150 --> 00:51:39.480 Ryan Baptiste: hmm.
00:51:39.930 --> 00:51:52.590 Jeremiah Fox: It like, especially if they were interested less so, and just like collecting facemasks and fts for fun i'm actually looking for some kind of growth, out of it, some some sort of investment in return.
00:51:53.100 --> 00:52:02.460 Ryan Baptiste: So, so the safest place obviously is bitcoin right now so So if you wanted to put money in crypto bitcoin probably the most stable price.
00:52:03.420 --> 00:52:16.110 Ryan Baptiste: it's come down by 50% off its high so it's probably not such a bad place and then you can you can go into more speculative assets like mcp or be a little difficult difficult to attain if I can go to coin base in and buy similar coins, but.
00:52:17.310 --> 00:52:21.180 Ryan Baptiste: I would, I would just stick with bitcoin in order for a long term play anything else would be.
00:52:22.890 --> 00:52:26.970 Ryan Baptiste: If bitcoin is not enough speculation and then the next one, is to be even more.
00:52:28.530 --> 00:52:39.420 Jeremiah Fox: um and what would you think like a good a good investments amount would be to start with, for someone like what's what's kind of like a minimum and like where's the where's a good place to kind of play.
00:52:39.570 --> 00:52:40.380 Ryan Baptiste: there's there's.
00:52:40.710 --> 00:52:49.020 Ryan Baptiste: there's there's there's no minimum so um it's just whatever you can afford to lose where wouldn't affect you, you know your everyday living so that would be my suggestion.
00:52:50.220 --> 00:52:54.870 Ryan Baptiste: If you would do a speculative investment as the cash might be a good one on coinbase.
00:52:55.680 --> 00:53:01.560 Jeremiah Fox: gotcha um and then besides that one could you know work.
00:53:02.970 --> 00:53:14.400 Jeremiah Fox: On on collecting certain pieces of like could be baseball cards, it could be a particular artists that someone thinks is gonna is gonna pop I mean has this has this like into the music industry as well.
00:53:15.420 --> 00:53:21.660 Ryan Baptiste: Yes, and my buddy rare skill and you actually trade, the first music and if it ever has got DJ pepe and.
00:53:22.410 --> 00:53:28.560 Ryan Baptiste: It unlocked tracks back in the day on the red pepper a wallet So if you hold the token you get special access to its tracks.
00:53:29.010 --> 00:53:37.500 Ryan Baptiste: Inside the wallet so that was cool and I think a lot of the music platforms they're starting to come and I think that's probably the next big thing is the music for sure.
00:53:37.860 --> 00:53:58.200 Jeremiah Fox: Right and the same way, like we were discussing the kind of the fractional ization of art on the Internet same the same is going to be true potentially so like a platform similar to spotify could emerge and they're issuing in empties in exchange for access to music.
00:53:58.770 --> 00:54:04.170 Ryan Baptiste: yeah how killer that'd be if you can buy a token they get access to album forever that would just be incredible.
00:54:04.440 --> 00:54:18.480 Jeremiah Fox: Instead of them just playing like a subscription fee like you know, otherwise you gotta like know enough to you got to hear all our ads if you go the nfp route no ads and then also you get like this exclusive access to certain to certain music.
00:54:18.900 --> 00:54:25.440 Jeremiah Fox: Man it's too bad Prince died already he would fucking crush it with his you know, like you would just destroy it.
00:54:27.630 --> 00:54:44.490 Jeremiah Fox: Too bad i'm a huge Prince Prince fan that's crazy that's so crazy all right we're gonna wrap up if someone wanted to reach out to you, for if they want to learn more about your company or wanted to get some advice or just asking questions with Where would you like people to be directed.
00:54:44.970 --> 00:54:52.620 Ryan Baptiste: You go to Twitter at Ryan avenue that's my handle so yeah feel free to miss me you guys any questions or when check out the cards.
00:54:52.980 --> 00:54:55.470 Jeremiah Fox: And do you have like a website or anything for exercise.
00:54:55.770 --> 00:55:03.450 Ryan Baptiste: yeah so the extra marketplace, is still being built, but the trades can actually be the cars can be traded digitally, but I should have it up next week is extra Co.
00:55:03.870 --> 00:55:15.690 Jeremiah Fox: Okay awesome man well Thank you so much, I mean my mind is blown hopefully everybody listening got some some valuable information out of this is exciting to me but i'm just like I feel so ignorant I don't know where to start.
00:55:16.020 --> 00:55:22.800 Jeremiah Fox: But these conversations always help, like every time you come into lance's room i'm like I leave I feel a little bit more ignorant.
00:55:24.180 --> 00:55:29.190 Jeremiah Fox: But in a good way you know kind of the way, like martial arts makes me feel dumber The more I learned.
00:55:29.610 --> 00:55:37.410 Ryan Baptiste: everything's moving so fast, so no one's really an expert everyone just kind of going along and learning as as it's progressing so you know every day it changes.
00:55:38.250 --> 00:55:52.020 Jeremiah Fox: That, as does life cool man well Thank you so much, I really appreciate it, I look forward to catching some more glances rooms, all of you have a great weekend hopefully you got some great stuff out of this and have an awesome weekend we'll see you next week, everybody peace out.
00:55:52.770 --> 00:55:53.310 Ryan Baptiste: Make sure my.