Comments
Transcript
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KGWhere is the info on the crypto course & certification that Ric Edelman says he offers?
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AD"Those in the crypto space have to learn how to connect with the advisory space. The advisors have to understand what this is, how it works and why it is a value to clients, how to incorporate it into their practice. The advisory space has to connect with the crypto space. We need to bring the two together." As long as the answer is not "Charge a 3-6% front load fee and then charge a 1% 12B-1 fee, and then a 1-3% account fee, and then a 2% sales fee." because that is not an option any more.
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MBRaoul, ever consider a briefing on the various ways to custody BTC and their limitations? Perhaps have an expert on. Trezor scares the shit out of me sometimes. Coin base has easy to use wallet for your phone. Is it secure? Winklevoss (good interview) or Gemini now offer cold storage on their site for a fee? If I died what is the chance my heirs will be successful with my Trezor. Many many issues to consider.
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OMEdelman...the person who charges you a fee to get index funds LOL. I guess he sees some profit potential in selling crypto with a fee wrapped around it. Sad.
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btGood as usual, came across a fund on the TSX, closed end fund. QBTC.U Giving exposure to bitcoin. Benchmark Index: MVIBTC Still reading into how all this works.
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RKThis guy and this interview misses the point of bitcoin (self custody - no third parties to trust) because the entire RIA industry is not serving the best interests of individuals - they would lose a lot of business. Sovereign Individuality is the cornerstone of bitcoin. Sure, the masses will generate demand price increase and us early adopters and key holders will benefit. But I find it somewhat disappointing we don't educate people to be self sufficient and hold their own money as was the intention of a peer to peer cash. My 75 year old parents have bitcoin and so do my college age children. I would be a failed parent and son if I did not teach them how to self custody. It is so easy now. CashApp - buy bitcoin. Transfer to a cold card wallet. done.
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HTWhy is every one trying to set up EFT for Bit Coin? The futures markets are what have destroyed returns on most products Grain, Gold . It ends up the tail waging the dog , they get so big. I understand that the 21 million limit on Bitcoin is the advantage. EFT and Futures will make it as common as paper money.
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BHThere is a BTC ETF on the Toronto Stock Exchange for Canadians. An Ethereum one starts this week by the same company. It allows me to have BTC in my wife's RSP which I self direct through the TD Bank.
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GLReally interesting. Enjoyed the video. Did I get this right?" 1% in a 60/40 portfolio equaled a 25% return"
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JOTo your Excel and Lotus 123 comment - it was first Visicalc and its slash key commands.
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RNDoesn't Greyscale or something like a MSTR act much like a BTC ETF right now?
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LHThe ironic perspective I got from within this interview is Bitcoin doesn't need financial advisors, financial advisors need Bitcoin. Next step is educating financial advisors as to why and most importantly, given the acceleration of tech, what comes next. Cardano is leaps and bounds ahead of Ethereum. It'll be interesting to see how fast we'll all see the digital asset option within the milk toast 401K. Exciting times ahead :)
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LHThe ironic perspective I got from within this interview is Bitcoin doesn't need financial advisors, financial advisors need Bitcoin. Next step is educating financial advisors as to why and most importantly, given the acceleration of tech, what comes next. Cardano is leaps and bounds ahead of Ethereum. It'll be interesting to see how fast we'll all see the digital asset option within the milk toast 401K. Exciting times ahead :)
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EARegarding bitcoin certification, one already exists: https://cryptoconsortium.org/certifications/CBP/
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VFCan someone answer a simple question I haven't heard a response to: When the BTC ETF launches, does GBTC crash? GBTC has a 2% fee, which an ETF won't have. Or am I missing something?
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THRaoul, you screen is a mirror image, made me dizzy. Great video but couldn't watch the picture - haha
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JJ24:14 the self serving POS showed his hand “why would I tell a client to do something that isn’t in MYYY best interest” that’s a break breach of his fiduciary responsibilities It would’ve been nice if Raul called him on that
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NFI run a fund and an RIA. Very easy to buy/custody BTC in the fund. Nearly impossible on the RIA side (unless you want paper BTC). We have found no prime broker in our research that will custody BTC that also connects to any of the major portfolio accounting systems. You can find 3rd party custodians but no RIA is going to open hundreds of individual custody accounts in client names with a 3rd party custodian, xfer cash out, and manually shadow account the asset in their portfolio accounting system. Several broker/dealers are working on this but are 12-18 months out. When it happens it is a path to BTC's second comma.
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MONassim Taleb loves bitcoin! When can we have him at RV?
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TSThis guy obviously knows his stuff and is highly successful. However, continuing to listen to him, I wonder if getting RIAs and related investors involved is really necessary for bitcoin. Sure, it will add some breadth and depth to the crypto market but bitcoin has done fine so far without this base of investors. Contrary to his statement, BTC is available to the average investor. No one is denying access to investors. If you can't figure out how to buy and store it, maybe you shouldn't get involved. Does it need to be dumbed down for clients ? Does every investment have to be available to every investor ? I've got to believe that most RIA managed accounts are not the "common" man but tilted to those with a reasonable amount of assets. This is just another way for RIAs and Wall Streeters to take over and make money off people. I suppose the only way for me to make money is to front run these guys.
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CPRaoul, something is wrong with your living room ;)
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DRHad anyone else noticed the video controls don’t work anymore?
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WTA suggestion to the RV producers; Can you guys please do a sound check before your interviews because terrible audio can really ruin what otherwise would be a very good interview. No band would ever hit the stage before doing a thorough sound check....test test one two, one two, test! PLEASE.
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PLGents great interview. But here’s the thing. Here in the U.K. until recently we had two Bitcoin ETFs available to buy. Recently the FCA/BOfE effectively made them impossible to buy via increased regulation. Therefore cutting the little guy and the IFA (RIA) out of the market. Real Vision has a huge amount of positive crypto content, maybe it is time to get some regulators on here to explain why they are making the decisions that they are?? I’d love to hear from the FCA on this. Pete
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JBAt 28:20 he mentions potential players who will come out with a BTC ETF. One is Bitvise, what was the other one? Couldn't quite understand it with the audio. :)
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SRGentlemen, I need some assistance in "crossing the crypto chasm." I am a private investor who, like Mr. Edelman, fell prey to an unscrupulous or incompetent advisor when I was in my 20's (why does my portfolio balance stay the same as the market goes up?). I decided to leave the world of investment advisors and invest in real estate and small businesses. Thirty five years later, I have sufficient passive income to no longer need to work. My investing philosophy became "I get paid every month from my assets." I drank the realvision kool-aid on precious metals (tasty kool-aid) and consider them to be a currency and hold them as "cash" (1% of my wealth, but growing). Based on the "crypto series," I see the crypto currencies as the same thing - with advantages and disadvantages. I don't consider either precious metals or cryptos to be an "investment" because there is no yield. I have an empty coinbase wallet, so the mechanics of acquisition are not a concern. What is your take on the "yield" problem?
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TPMr Edelman "gets it", and it is refreshing to see. Boiling down the argument to its essence: "The obsoleted industry has no standing to make demands to what replaces it." I'm sure carriage makers would've loved to enforce restrictions on early cars to be more "horse friendly", or lamplighters be able to restrict the usage of electric bulbs -- but it doesn't work that way. The financial industry has two choices - adapt, or go out of business.
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NMAnyone familiar with a modeling tool that looks at historical price action at the time of new ETF launches? They mentioned inflows to gold following the gold etf launch....wondering what a tool like that could say about a BTC etf launch?
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CFThis needs to be on YouTube for other RIAs to see
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YBKnow that is right on the spot !!!! Seems very logical that mutual fund don’t want people to get them self custody of their own assets because what is the point of them after that ! Great interview! Thx Raoul for getting with us in this extraordinary world that is crypto 🙏
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TTThis is a joke. You don't need financial advisors or rent collectors to invest in Bitcoin. The next generation isn't going to pay a monkey to manage their money. The whole point behind Bitcoin is avoiding advisors and unnecessary coin clippers. Bitcoin doesn't need money from rent collecting financial advisors. Raoul is right about BTC's price going up, but he doesn't get the technology's nuance and disruption of the old guard, including dinosaur financial planners.
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JTIt looks like there's a Binance logo on the far left about the height of Ric's head LOL. Coincidence I'm sure. But fun.
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JTRic Edelman. Wow. I remember reading his book 'The Truth About Money' in 2001. I still use the term 'Don't be SNIOPed' (Susceptible to the Negative Influence of Other People).
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DWGreat!