0:00: Insurance on the crypto is a little bit of an interesting topic.

0:03: We even see the biggest exchanges in the world, Buyabit, Coinbase regularly losing, you know, hundreds of millions of dollars of Bitcoin, and it's very hard for the insurers to assess the risk and manage the risk around that.

0:15: A lot of the insurance that we see platforms have is more for the purposes of marketing than actually meaningful.

0:21: The Treasury Department from the Federal Government.

0:24: Has drafted legislation, particularly around custody.

0:28: It looks like those that want to hold custody need to have $10 million of net tangible assets, like in cash reserves, cash equivalents.

0:37: In the US they're bringing out some legislation called the Clarity Act that is going to bring a lot of attention to market structure and how markets should function in the crypto ecosystem, and I suspect that a lot of those.

0:48: Frameworks are going to trickle down into other jurisdictions.

0:51: I'm Matthew Fraser and this is Crypto Collective.

0:54: After making millions with Amazon and e-commerce, I realized that if I was starting again today, crypto would be my first choice.

1:03: I'm here to help you take your first steps and build real wealth.

1:07: Ready to set yourself up for life?

1:09: Let's go.

1:10: Hey, Blake Cassidy, CEO, Of Bamboo and co-host of Crypto Curious.

1:15: Welcome to the Crypto Collective.

1:18: Thank you, Matt.

1:18: So excited to be here and, thanks for the invite.

1:21: Yeah, no, it's amazing to have you on because I've been following the Crypto Curious podcast for so long.

1:26: You guys are absolutely crushing it in that space, so well done on that.

1:30: But I actually want to talk a little bit about bamboo, just, just for your knowledge.

1:34: I came across bamboo, oh, a couple of years ago now.

1:37: And I shared it with my online community way back then.

1:39: I was like, guys, look at this.

1:41: This is a way for you to stack more crypto, and it's so simple.

1:44: But I, I just want to highlight it cos I think it's just so amazing that, you know, you're the guy behind this.

1:48: Can you explain to the people who don't know about Bamboo what it does and how it benefits people in the crypto space?

1:54: Yeah, so Bamboo at its essence is a micro saving application.

1:58: So we really help people with their first step into crypto and to make it very easy for, People to dollar cost average.

2:05: So we're mobile native and what you do is you connect your bank account to the Bamboo app, and that allows us to, round up the spare change from your daily transactions, like buying a coffee or going to the grocery store, and if your coffee is $4.50 if you can find a coffee for $4.50 we, yeah, we would round up the spare change to $5 and you would invest the 50 cents denominated change and,, yeah, so it's, it's an easy way for incrementally for people to save and invest into crypto without noticing it too much, and then we also have other investing strategies just like dollar cost averaging, like payday or end of month or whatever to allocate a fixed amount.

2:47: , into crypto to, you know, help people achieve their financial goals, and what we tend to see people using Bamboo for is to achieve those medium-term savings goals.

2:57: So at the end of the year, they've been DCing all day, all, all year, sorry, and they have enough to pay for their holiday or pay for their gifts for the family or buy a new couch for their girlfriend or, or these kind of medium term things that you don't expect or, or you need a bit of extra cash for.

3:12: So it's really great seeing, helping people achieve those sort of goals.

3:16: That's really interesting.

3:17: I never thought about those sort of short to medium goals.

3:19: I was just always thinking about long-term generational wealth, because I do a lot of calculations, Blake, with, you know, different strategies.

3:27: So I come from a mortgage brokering background, so I talk a lot about how to manipulate mortgages to allocate into Bitcoin or change from principal and interest repayments to interest only on your, mortgage, and then put the, the difference into Bitcoin, for example, right?

3:41: That's what I love to do, so that's why I love Bamboo because it's so simple, and anyone can do it.

3:47: Yeah, so simple.

3:48: And what we've seen, you know, the reason that we built bamboo in this way is so many people come to the crypto ecosystem, and they invest at the wrong time, they invest too much, and they invest into all sorts of speculative assets.

4:00: So we've really tried to create an environment where it's very hard to mess it up when you're using bamboo.

4:06: so in that sense, it's really great for those that may not be crypto native.

4:10: May not be really tech, savvy, to be able to get exposure and safely invest into the ecosystem.

4:17: Yeah.

4:18: And would you say like that, like the number one crypto, let's call it, it would be Bitcoin.

4:23: Are most people who use Bamboo DCA into Bitcoin?

4:27: That's right.

4:27: So we only have 4 assets on the platform, Bitcoin, Ethereum, gold, and silver, and, you know, Even, yeah, we often get a lot of requests for additional coins, but as we've seen, yeah, yeah, as we've seen over the past 4 years, it's, it's incredibly hard to outperform Bitcoin, unless you really have your head in the market.

4:48: Yeah, that's so interesting that you said that because a couple of things on that.

4:52: One is that, Kevin O'Leary has just recently announced that he got rid of head.

4:57: About 26 different, I guess, altcoins, or cryptos, got rid of all of them, and went into two, which were Ethereum and Bitcoin only.

5:06: That's how he's sort of dematerialized into that.

5:09: And of course, you just had JP Morgan come out just recently too, saying that they will now offer, lending against collateral in Bitcoin and Ethereum, which is interesting, and that's the top two that you do.

5:21: Blake, you're really big into the, I guess the, The regulations and legislation arena, that's sort of something that you really specialize in, I don't want to go too deep into the detailed detail from from an exchange point of view, but how do you think some of these potential new regulations that are going to be rolled out in Australia or perhaps some that are talking about that have been spoken about, how will they benefit the everyday consumer or Bitcoin in Australia?

5:47: Yeah, there's really two key parts to this.

5:50: Firstly, there's been, you know, a recent release of some policy guidance from ASIC, which is the financial regulator here in Australia, and that, is ASIC's interpretation of the current laws and how crypto fits within them.

6:05: And they've given a heap of examples and said that, you know, wrapped tokens are derivatives, stablecoins are financial products.

6:14: And they've made provisions that they believe that much of what happens in the crypto ecosystem are financial activities and therefore require a financial services license like, you know, an investment fund, a wholesale investment fund might need, and, and with that comes a whole heap of compliance, auditing annually by third party independent audits, compliance, you know, responsible managers on the license, different sorts of insurances, and I think that those things are all designed to, for consumer protection and to, you know, make sure,, that the consumers are being looked after, so that's really the first kind of area that's developing at the moment.

6:57: ASIC have made some guidance on, you know, when everyone has to transition across to, into, you know, those sort of frameworks, which is, the middle of, 2026, or at least apply for their licenses by 2026.

7:11: , the second kind of, change that is happening is that the Treasury Department from the Federal government has drafted legislation, for digital asset platforms, and the, the description of what a digital asset platform is, is quite, quite broad, and basically it's any platform that holds or manages crypto on behalf of, customers, and.

7:38: That is going to require licensing as well, and that has, some small but key differences, particularly around custody.

7:46: Now, in that circumstance, now, there is draft legislation, but it hasn't been finalized yet, but it looks like, those that want to hold custody need to have $10 million of net tangible assets, so an additional $10 million on their balance sheet, so Blake in.

8:05: Cash reserves or yeah, cash or cash equivalents, so we, you know, there's many different interpretations of what cash equivalents are, but we don't have to get into that, and that would result in, firstly, the, you know, the big exchanges being able to easily do that, but then, it'd make it a bit more challenging for smaller players where they would have to then outsource their custody to a custody provider.

8:31: A larger exchange.

8:32: Interesting.

8:33: Now there are some exceptions for very early stage companies as well to innovate, and there's some criteria like if you have, you know, less than, I think it was 5000 or 10,000 customers and, you know, the average portfolio balance was under $500 or something like that, then you would be exempt for these rules to allow you to, you know, test your, you know, start to build out your business without being burdened by these kind of large compliance costs.

8:56: I think the number one thing that, Most people are probably concerned about when it comes to exchanges, who custody their, their crypto, is, is it protected, right, and so was there anything that was spoken about perhaps like you know, in some countries, for example the UK and I think in the in the US there's some, protections like as far as like insurances, like for example like a $250,000 payout, if it was not, if the, if the funds were lost or there was some fraudulent activity, So was that sort of anything like that on the cards?

9:26: Yeah, under both regimes, the exchanges would need to be audited and by third parties so they can prove that the assets are there.

9:36: Annually, and secondly, insurance on the crypto is a little bit of a, interesting topic because, you know, it's very hard to get full suite of insurance on cryptocurrency for exchanges, and there's often a lot of caveats involved in that insurance, and therefore, you know, a lot of the insurance that we see platforms have is more, for the purposes of marketing than actually meaningful.

10:05: , and because it is very risky, we even see the biggest exchanges in the world, Bit, Coinbase, and others regularly losing, you know, hundreds of millions of dollars of Bitcoin, and it's very hard for the insurers to assess the risk and manage the risk around that, particularly for, even, you know, second or third tier businesses.

10:26: Hm.

10:27: What about things like, I mean, you could obviously argue that, The crypto landscape is the wild west still, particularly in trading, and of course, October 10th saw this mass liquidation, in the industry, and there really seems to be just no, I guess, safeguards for for the average consumer out there.

10:47: If if this was done, I mean this couldn't be done in the stock market cause then people would be locked up in jail.

10:52: Right, so are there, is there anything that the government perhaps was talking about in Australia that they would have to implement in exchanges to prevent stuff like that happening?

11:01: Yeah, that's probably a little bit above my pay grade, but I know in the US they're bringing out some legislation called the Clarity Act, and that is going to bring a lot of attention to market structure and how markets should function in the crypto ecosystem, and I suspect that a lot of those frameworks are going to trickle down into other jurisdictions, you know, The derivatives market for crypto isn't that big in Australia, you know, all of the, derivatives markets for crypto, at least the large liquid derivatives markets are offshore, and, you know, even if there was regulation here in Australia, I doubt that, you know, these platforms would be looking to comply with Australian regulation, yeah.

11:43: It sounds a bit like the, the social media companies, right, they're gonna just we're not doing it.

11:48: Whatever Australia says, they don't really seem to care, do they?

11:51: Yeah, that's right.

11:51: I mean they're so big.

11:52: Yeah, exactly right, and as for DFI, you know, a lot of the innovation happens there, and I think it would be a mistake from any jurisdiction to regulate decentralized finance too quickly because it could very quick, very easily stifle.

12:08: Innovation and force force those jobs and innovators and entrepreneurs offshore.

12:13: What about, like, I just spoke to somebody else recently about this, and this is the, the new EU laws that have been proposed.

12:20: If you know if you familiar with the EU laws around crypto, they're trying to ban, privacy coins like Monaro, and, and ZCash, and my fear, Blake, is that Australia will adopt these, Draconian type laws where they're kind of really remove any,, privacy, right, cos I guess as a Bitcoin, I love the idea of privacy and sovereignty with Bitcoin, but it seems that governments now starting in the, in the EU which is opposed to America, are trying to push these draconian laws.

12:53: What do you, what do you make of that, and do you think that Australia will end up adopting more of a US style free market or go more down the other way through the EU?

13:01: Well, I think already, privacy coins have been pretty much banished from all Australian exchanges.

13:06: , the reason for that is that we have something in Australia that exchanges have to comply by called KYCAML rules and regulations to ensure that there's no money laundering happening through the exchanges, and with the privacy coins, it's really hard to tell where the money has come from and where it's been, for the exchanges here to be compliant.

13:25: So, I believe that, already we've seen that and it will be.

13:33: The case that, particularly with the larger exchanges, they're going to do what the government wants in order to keep their businesses running, and I don't think they're going to risk, you know, going outside of the mandate.

13:45: Now, you've been in this crypto space for so long, you're probably one of the only person I've spoken to who's, who's been in this, who's seen so many cycles, so it's actually quite great to talk to you because you've got, you've got so much history there.

13:58: I want to bring you to some more sort of current events.

14:01: This year has really seen Bitcoin fairly flat.

14:04: We've now seen it jump from 126 down to around 95,000 in the past month or so.

14:09: What, what do you sort of reflect on in this past year now?

14:12: You know, there's really, a lot of differences and a lot of similarities throughout the cycles.

14:17: there's time-based metrics that everyone has looked at these 4 year cycles that, many people speak about, particularly those that have been in the ecosystem for a longer period of time and,, more recently there's a new, new school of thought around, you know, the macro environment, you know, being more responsible for the crypto ups and downs, as opposed to just the time-based, metric based on the Bitcoin halving.

14:43: Now it's really hard to tell which narrative is going to play out, but I think both are true to a certain extent, you know, there are influences from the four year Bitcoin halving market cycle and the changes in the macro economy with liquidity and, And those sorts of things, so, yeah, it's really interesting to watch play out, but, as I say, to our team and and our customers, is that this is really short-term, changes, and I don't think, really affects the long-term in any way.

15:18: Well, it's just interesting because you've been here for so long.

15:20: Do you still, when the, when the price drops from 126 now, and drops down to 95, how do you feel, you know, having been in for so long, are you completely immune or are you like, oh, Bitcoin.

15:31: Yeah, it obviously hurts every time, but, you know, these, these ups and downs come and go, and you can try and trade the markets, but, unless you're really, really focused on this, it's probably not the best thing to do, and taking a long-term view, I think, it makes it far more manageable and I think that these dips also create an opportunity if you are DCAing into crypto, week on week, month on month, you know, you're getting your Bitcoin at a 30%.

15:59: 10% discount right now which pulls your average buyer price down and will help you in the long-term.

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17:01: Now, back to the episode.

17:03: Just on DCA what do, what do you think for people who are watching who are who are brand new, who haven't really jumped into the market, how, why is DCA so important?

17:13: Hm, yeah, so getting an average buy price or investing incrementally, is really important because it allows you to not buy tops of market.

17:26: Or into FOMO and gives you a more sensible, you know, entry price over a period of time.

17:32: it allows people to invest what they can afford.

17:35: Not everyone has $10,000 to $100,000 to invest.

17:39: They might only have, you know, $100 or $1000 so it allows them to build their position over time and build confidence in this market.

17:45: What we tend to see is that people, invest, start investing smaller amounts, and then as they learn the ecosystem and, and we help guide them through with education.

17:54: , they become more confident and happy to allocate, you know, a larger percentage of their investing portfolio to digital assets, which, is an important step, and, there is, you know, of course, another way of investing what you would call lump sum investing.

18:08: , so just buying at a point in time, and you know that could, that also has its risks because often what we see is when people do that, if the market does drop by 20 or 30%, they would become emotional, and then selling sell their losses and lock in that loss, which is a hard lesson for anybody, and then they would probably churn from this ecosystem.

18:31: , they're gonna have a bad experience with crypto, a bad experience with Bitcoin, and that's not what we wanna see.

18:36: We wanna see people achieve their financial goals.

18:39: Have you ever done something like that, Blake, where you've, you've sold Bitcoin but then later regretted it?

18:43: Is that part of your story?

18:45: Yeah, I think that happens to most people, yeah, buying at the wrong time and, and selling at the wrong time, and, you know, I help, you know, and I think this helps just inform.

18:54: Long-term view that, you know, unless you're a trader, you know, buying and holding is the best strategy or, or DCA.

19:01: Yeah, I just heard a, a great little, saying, just, just today actually, and they said 90% of traders lose 90% of their money within 90 days.

19:12: Yeah.

19:13: Now, is that true, or is, or do you find that there's actually traders that actually do make money?

19:17: 95 to 98% lose money.

19:20: You know, these markets are incredibly challenging and, you know, the best, you know, just looking at the data from the investors on our platform, the ones that have done best of, you know, just been investing small amounts incrementally, over 456 years, like $50 a week, $100 a week, they've, they've done the best.

19:40: I say this, because I had someone come to me recently, Blake, and they said, Matt, I've just seen the fart coin.

19:46: I could, I could, I could 100x within a month or something like that.

19:49: I said, Liz, relax.

19:50: And this is someone who is fairly new to the space as well.

19:52: I said, relax, yeah.

19:53: Are you going to be the person that's gonna time the exact, bottom and the top and sell out and all the liquidity's gonna be there just for you, you know?

20:01: No, that's not gonna happen.

20:03: Why do you think people though, Blake, when they first get into Bitcoin or or into the crypto space, get so fascinated with these, I guess, meme coins and other sort of altcoins rather than just focusing on what I would say they should focus on, which is just purely a Bitcoin play.

20:17: Hm, that's right, well, you know, we all hear the stories of the guy that buys $100 in Fart coin and, you know, 1000 exit and makes a million dollars.

20:26: And, but you don't hear about the other, you know, 10,000 stories of everyone losing all their money along the way when they're investing into these highly speculative assets, and I think that skews the market perception of your individual punters that are on, you know, Instagram and TikTok and, and they see these things and they think that, you know, it, it skews what's possible, or what's likely, and, you know, they obviously want to chase these wins and, you learn.

20:50: Pretty quickly that that's, not the reality.

20:53: Yeah, yeah, absolutely.

20:54: I mean, I've, I put my hand up.

20:55: I have lost money in altcoins.

20:57: I've, I've sold Bitcoin at the wrong time.

20:59: I should've held more, but now I'm actually, dematerializing.

21:03: I'm not, I don't know if you know this, Blake, but dematerializing my assets into more Bitcoin cars and properties and things like that.

21:09: Tell me, Blake, what are you doing?

21:11: What are some of the strategies that you personally do?

21:13: , is it still allocating more Bitcoin to a DCA?

21:17: Is it selling property, or is there a different type of method?

21:20: So I continue to DCA into crypto, I continue to hold long-term Bitcoin and Ethereum, but you know, as time goes on, my strategy becomes more and more simple.

21:30: It used to be, you know, picking.

21:32: It's Picking, you know, start-up companies or new innovation and investing into new categories in crypto or, you know, flipping NFTs, but, you know, as things go on, I've become more focused on the business, at Bamboo, and, that has, you know, taken up more of my mindshare, than, you know, trading and, and trying to,, well, one of the guys who I follow, which I love watching is, is Jack Mallers.

21:58: And it reminds me, because he's probably similar age to yourself, and he's got a company as well, much as you've got a company, Bamboo, and he's, he says that people come to him with ideas all the time, but he said unless it's going to return a 40% rate in a year, he doesn't look at it.

22:16: And so is that something that you now look through the lens of, is it Bitcoin, more Bitcoin, or do I do a startup?

22:22: Hm, yeah, it's really interesting.

22:25: I think it's also really good to diversify, you know, having, having, you know, a certain amount in your, in your business, in, you know, in your crypto portfolio or property or whatever else, it's really important to be diversified.

22:40: that doesn't mean I don't believe in in crypto at all, but I think it's just good practice, as, yeah, as well as that, yeah, just continuing to, to to grow all of those portfolios, but, what I really like about, Bitcoin and other digital assets is that you can set and forget it, you know, you don't need to actively manage it, like other, you know, investments and so you can, you know, it gives you the, the, the headspace to focus on other areas of your life.

23:10: You mentioned Ethereum, it's something that I, I currently don't hold.

23:13: My second biggest holding is actually Solana, so the other one, right?

23:17: But tell me, I saw someone just yesterday, he said, he believes that Ethereum is going to 80, I think it was $80,000.

23:26: Do you think this is actually possible with, with something like Ethereum getting to those types of numbers?

23:31: , I'm not sure what that would put it as a market cap, but it does seem incredibly like $20 trillion or something.

23:37: Yeah, it seems incredibly high, you know, what we've, you know, an observation that I've made is we've, you know, these, These kind of public good things that have, you know, it's like general computing purposes, where you can do, you know, all sorts of things on them is that, they become like that, they becomes more of a the network becomes more of a sunken cost, and it gives everyone else the opportunity to build on top of it, kind of like power lines, railway lines, or, or the plumbing that we see in the streets now.

24:08: , it just because, it doesn't go up in value doesn't mean it's not valuable, to everybody else in the ecosystem, and, you know, it could be the case that, you know, we see lesser price, price appreciation, on the token, but, it becomes more important in the, in the, you know, ecosystem more generally, so, we've kind of seen that a little bit with some of the decentralized exchanges and money.

24:35: Markets like Ave, and Uniswap, they're incredibly important, some of the biggest platforms in our whole ecosystem, but, you know, the utility token associated with it hasn't appreciated, in accordance with the value that it's accrued, from, you know, a fundamentals point of view.

24:54: So there, there is a divergence there, that people need to pay attention to.

24:58: You spoke recently, I'm, I'm sure it was you, Blake, that were saying, That you believe that layer twos are gonna play a bigger role into the future as opposed to layer ones.

25:08: What did you mean by that?

25:09: Yeah, well, you know, there was always a lot of speculation if Ethereum was doing the right thing by taking this dual layer approach to scaling, whereas other platforms like Bitcoin and Solana have focused on having, you know, one chain, and you know, different chains for different purposes, I understand that, but we have seen quite a lot of adoption through this, Layer one and layer two kind of ecosystem where it gives businesses an opportunity to build out a second layer that is secured by Ethereum, but they're able to customize some of the business logic and the qualities of that that blockchain to their business needs, and I think it's a scalable model because they don't have to invest in decentralization and security, and they can just focus on what they're good.

25:57: At what they need the chain for.

25:59: Now, I think it was Alipay came out a couple of weeks ago, payment processor in China, 1.4 billion customers, they said, you know, this model works for us and this is where we want to build.

26:13: Now, of course, that business decision might not be for all businesses, but we are seeing, large, you know, institutions in the finance and payment space looking at that as a viable option.

26:23: Now.

26:24: It could be the case that somebody else, you know, wants, doesn't want that model and wants to just use Solana or just use the Bitcoin network, but we've also seen layer two's in, in, in Bitcoin, you know, like the Lightning network, I know it's not formally a layer two, but, it has similar qualities, and there's also, you know, a big push for, some, you know, layer two-esque, chains on Bitcoin to allow more functionality to, occur there.

26:51: Mhm.

26:52: So can I push you a little bit more, Blake?

26:55: Yeah, of course.

26:56: What do you think then are the ones to look out for?

26:59: If, if from an investor point of view, right, we've got some of these big layer ones, Ethereum, Solana, and what have you, what are the ones that people should be looking out for from, from the investor point of view in layer twos?

27:11: Yeah, well, a big question is to ask, does the value.

27:14: Is the value going to accrue within the layer two?

27:17: You know, some of the models that we've seen come out from a layer two ecosystem is like base where, you know, there is no, there is no token, but the base chain is incredibly valuable, nonetheless.

27:29: so I think it really comes down to the unit economics of how they're using their utility token in their ecosystem.

27:35: And the team behind those that are designing those unit economics because, what we've seen historically is that, they change over time, the teams, the communities decide to change those, those tokenomics, that's one great thing about Bitcoin is that the the unit economics haven't changed and you know what you're in for well into the future, but, With these smaller projects, yeah, it can be a lot more challenging.

28:03: So, you know, I'm not here to give financial advice in any way, but, you know, people just have to look at the fundamentals of the technology, and I thought, I thought Blake Cassidy, he might, he's, he's the co-host of the number one podcast in Australia, Crypto Curious.

28:19: He's gonna know something.

28:21: Get it out of him.

28:21: But no, you're right, I think, you know, these, the way I see things though is everything is a speculation.

28:27: , I'm, I'm a fundamental believer in Bitcoin, and you know, I have Solanas and I've got a whole bunch of other, other coins as well, but for me they're a small portion of my overall portfolio and just something that I, they, if they go to zero, it's not gonna matter.

28:41: I, but I'm like you though, Blake, I'm actually moving more and more into just I probably will end up fundamentally with probably just Bitcoin.

28:48: That's where I think things will head in the next probably 33 years or so.

28:52: Like, I wanna bring it back to something that, something that I always ask people about because you, you would know probably far more than most people.

28:59: This is about banking in Australia, and the banks seem to be from the outset, opposed to, Bitcoin, let's say, but you know we had AMP they purchased $26 million of Bitcoin, it was either the beginning of this year or last year.

29:17: Do you have any insight into the banking landscape?

29:19: Do you think, well, fundamentally that they will ultimately end up, either selling Bitcoin or custody Bitcoin in the future?

29:29: I think banks will end up selling and custody Bitcoin in the future, we've already seen that from big banks in the US like JP Morgan's moving in that direction and,, no doubt the Australian banks will follow suit, but I think there is a massive opportunity, in the fintech space for entrepreneurs and startups to be able to disrupt them.

29:49: This technology is so powerful, we can build, you know, people are already building, you know, auxiliary, financial systems and products, that run, you know, not necessarily inside the traditional, you know, Tradef world, and, you know, this technology gives.

30:05: The opportunity for entrepreneurs to build on top of it and build businesses that disrupt the incumbents because they're using old tech, they're inefficient, they're massive, they're slow, which is all contrary to how blockchain works.

30:17: Yeah, there was just a report that just came out recently and it talked, I think it was Core Data brought out the report, you may have seen it, Blake, and it talked about how, crypto is now the 3rd biggest asset or investment class for people outside of, property.

30:34: So it's like it was like super, then stocks, then then crypto, so people are actually turning away from investing in property.

30:41: Why do you think, I know why it is, but why do you, what do you think, why do you think people are doing that in the Australian landscape, and what sort of impact do you think it's gonna have now on the property market as people turn away from it?

30:52: Yeah, I think obviously the barrier to entry for crypto is a lot lower than property is, and, you know, a lot of people even use crypto, in order to, you know, gather enough wealth for a deposit for a property.

31:07: So it could, you know, be forming a first step.

31:11: people, you know, instead of putting their money in the bank and, you know, it, eroding in value, for 5 or 10 years or however long it takes to save.

31:20: Deposit could, you know, use crypto, get 30% compounded return on average, and, you know, achieve their financial goals quicker.

31:28: It, it is very interesting and are people turning away from property for crypto?

31:33: It could be the case, yeah, but definitely a younger cohort, I, I believe.

31:38: I think that is the right answer.

31:41: I think it was under 40s, predominantly Blake that they did the survey on, who predominantly had moved away from property, and I think because now,, another report I just saw was, Sydney is now the 2nd highest property price in the world, right, most unaffordable I think it was under, under Hong Kong.

32:03: What do you think is happening, or what do you think the landscape of Australia will see in the future, like what are your predictions as far as like crypto and how the world will change, what are, what are your thoughts on that?

32:13: Hm, well, you know, if I was a young if I was a younger person, you know, you're young.

32:20: Thank you, thank you.

32:22: if I was, you know, coming out of uni, looking, you know, in Sydney, looking at the property prices, you know, I would want to check out of, you know, the traditional system.

32:30: And look for alternatives, you know, there's no way that, you're going to be able to save, to, to get a deposit for, you know, an entry level price of a billion dollars or $1.2 million and, I think more and more young people are going to look at alternatives and crypto is a great alternative for people to check out of your, more, your, a system that's been used historically and start building their own new system.

32:57: Yeah.

32:58: What's it like, Blake, now?

32:59: Do you ever see people who you said to invest into Bitcoin, you know, I said, you know, like years ago, I said, Oh, you should get into Bitcoin, cause everyone's got those people, right?

33:07: You know, I've lost a lot of friends.

33:09: It's like, Oh, no, there's that Matt guy, he's gonna talk to us about Bitcoin, run that way.

33:12: But do you have people that, you know, you spoke to, like, years ago, who are now looking at you going, Far out, how come you've done so well?

33:18: What did I do wrong?

33:19: Yeah, you know, I think there's great opportunities out there across.

33:22: All industries and this is just one pathway for, you know, I think that people that that believe in the vision of cryptocurrency and you know, the ideology around it, you know, lots of friends, you know, invested what they could and and have also done well, but others have done well in property, you know, property's done incredibly well in Australia.

33:42: Shares, you know, people can make 20% compounded, per year on shares.

33:48: So if they have an interest in investing, I think, you know, crypto pay is an important part as a balanced portfolio, but, people might have specific interests.

33:57: Well, I went against all of that because I'm now going more into Bitcoin, so I'm getting rid of shares, I'm getting rid of properties, getting rid of just anything that is just sitting there doing nothing, including my exercise bike, that's gone.

34:09: I just want, I just wanna buy more Bitcoin, Blake, that's all I really care about right now.

34:12: Yeah.

34:13: Look, as we get closer to wrapping up this episode, Blake, I'd love to find out from you, who are some of your most, I guess inspirational people that you seek knowledge and advice from within the Bitcoin space over the years?

34:26: Yeah, there's really a lot of people that I get the inside word from, and those that have been around the ecosystem, since very early on, they're not in the limelight, they build businesses and.

34:40: To different groups, about, you know, digital assets, crypto and blockchain, that have a really, how do you say, fundamental view on the importance of the technology and what it means for the broader, not just economy but society, and you know, I often, get lost in building a business, you know, on the day to days of, you know, accounting and you know.

35:07: Technology and all of those things, and it's always really valuable to come back to those core principles, to realign, you know, what we're doing and what I'm personally doing, in this ecosystem.

35:17: Oh well, you, you brought it back to the business then I'd love to know what, what, what sort of future plans have you got for bamboo?

35:22: Are they, are they going to go down like some some sort of a custody type, I don't know, like lending license or something like that?

35:28: What do, what do you see?

35:29: Yeah, we've want to continue building out features and functionality.

35:33: To help people achieve their financial goals, whether that's through gamification, you know, goal setting, more dynamic DCA strategies, just a simple example of one that I thought of this morning was every time there's a death cross, in the crypto ecosystem, you know, it executes an automated buy of a, of a denominated amount.

35:53: so these sorts of things, I think, yeah, people want and, they don't want to have to.

35:59: Think about, like, if you're not in the ecosystem, you're not looking at these indicators and you, you don't want to have to make a decision every time, these things happen in real time.

36:07: So, yeah, really excited about that and, you know, this technology has so much power, new and exciting use cases will emerge and, you know, we'll look to innovate where we can.

36:17: Yeah, awesome.

36:18: Well, Blake, I think we're gonna wrap it up there.

36:19: I just wanna say, thank you so much for joining me on this episode.

36:23: You've been absolutely incredible.

36:24: I wanna leave a show.

36:26: Notes for, Bamboo, of course, which have already spread throughout my community in the crypto Collective, and of course, everyone should tune in to Crypto Curious and hear exactly what Blake and Tracy have to say about crypto into the future.

36:40: So Blake, any final words?

36:42: Thanks so much, Matt, for having me.

36:43: I'd love to have you on the Crypto Curious one day and run through the weekly news where we can talk about what's happening.

36:49: and yeah, thanks again for having me.

36:50: Awesome.

36:51: Thanks so much, Blake.

36:52: Take care.

36:54: Cool.

36:54: Hey, thanks for tuning into Crypto Collective.

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37:04: It really helps me to create more content just for you.

37:09: Also, if you're ready to level up your crypto journey, make sure to check out CoinStash.

37:14: It's the platform that I trust to buy, sell, and hold crypto with ease.

37:19: You can also find more of me.

37:21: At I'm Matthew Fraser on all social media platforms.

37:26: Take care.