– Nathan introduces Tom to the show 02:31 – There’s a market of new old coin tokens and there’s little information about it 03:12 – “This is liquid venture capital” 03:15 – The tokens represent an exposure to startup projects 03:25 – As people know, investing in startups is about qualitative information rather than quantitative 03:45 – Tom decided to apply the distributing models in building companies 04:50 – Tom shares the common way to build companies 05:10 – Blockchain ecosystem has a technology that is a combination of 4 different technologies 05:15 – The technology allows secure transfer of value on the internet even without a third-party approval 05:28 – Blockchain is a secure transfer layer that overlays on your internet 06:06 – You can track the activity on the blockchain because it’s an open source 06:16 – The tricky part is to identify who’s doing what 06:46 – Every time there’s a transaction on bitcoin blockchain, you’re leaving clues to who you are and what you’re up to 07:43 – The best use case of bitcoin blockchain is a stored value 08:22 – The issue with bitcoin blockchain is that it’s not yet as trusted as gold 08:27 – Tom believes though that bitcoin blockchain will be as trustworthy as gold 08:38 – As an investor, you want to be diversified across multiple blockchains 08:56 – Every one of these tokens is the unit of currency within a blockchain 09:32 – Bitcoin is a unit in a chain with 21M units 09:38 – Tom uses the analogy of a train with several carts to explain bitcoin and blockchain 10:08 – Ethereum is a place you can go to build blockchains and host them 10:45 – If bitcoin becomes as trusted as gold, it can be worth billions of dollar 10:55 – “You can never prove that any blockchain is secure because there’s always a bug they might find in the future” 11:03 – The longer you wait to find the bug, the more trusted it becomes 12:07 – Tom believes that the way blockchain is built is the way companies will be built in the future 12:15 – For investors interested in technology, go to Coinbase.com which is a mutual friend of Tom’s 13:01 – Coinbase has different types of cryptocurrencies or tokens 13:05 – Tom recommends buying bitcoins on Coinbase 13:09 – Then open up a Poloniex.com account where you can buy whatever you want using bitcoins 13:54 – The people who took advantage of the gold rush didn’t look for gold, but created something that can be of use for gold 14:50 – In the crypto world, you can design a microeconomy with incentives 14:55 – The people will join your microeconomy and work for you to get the incentives 15:08 – The incentives are the bitcoins 15:51 – Walter is creating an army of people who contribute data in exchange for a reward 15:55 – The people are getting paid with tokens 16:29 – Crypto businesses are difficult 16:52 – The easiest way to get good returns in the space is to buy tokens which are units of currency in micro-economies 17:14 – Tom uses the analogy of buying Facebook IPO 19:20 – There are games where you can earn cryptocurrencies and online casinos for cryptocurrencies 19:53 – When you buy cryptocurrencies, you are already in a crypto economy where you need to do your due diligence 20:33 – Ethereum is one of the currencies that you need to run apps 21:21 – A token is like a packet (in relation to IP protocols) 21:54 – Blockchain is the protocol layer upon which tokens are transferred around 23:33 – Tokens are also called cryptocurrencies 23:15 – A miner is someone who runs an algorithm on his own piece of hardware that checks for activity within a blockchain 24:48 – The ways that you can contribute data varies 25:51 – It’s the first time in history that you can have liquid venture capital in the industry 25:58 – There’s an extreme demand, but with a limited supply 26:44 – Tom believes that now is a good time to participate in cryptocurrencies 27:31 – Tom shares to Nathan the questions that Nathan can ask a guest who is into investing in cryptocurrencies: 27:40 – What are tokens? How do you make a venture capital investment? 28:06 – Do you have a personal relationship with MetaStable and Polychain? 29:35 – What is the history of cryptocurrencies? 30:12 – Another question can be their strategy of trading 31:00 – Why people should use Walter: 31:05 – All of us in the space need to support a good project and invest in the right projects so we can all have a good return 31:21 – Walter is building a global community of contributors who are researching the space and gathering information in exchange for incentives 31:42 – “Get involved and join the conversation” 33:18 – The Famous Five 3 Key Points: Bitcoin may not be as trusted as gold, but it will be in the future. Building a crypto business isn’t easy, but the demand is here. Study and research an industry before jumping in, and know the RIGHT questions to ask. Resources Mentioned: The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences GetLatka Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more Klipfolio – Track your business performance across all departments for FREE Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books Show Notes provided by Mallard Creatives