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Jim Crider

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2024-04-03
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2024-04-03
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  1. “Anyways, if you want to throw a minute on my calendar, the website is a mouthful. It's intentional living FP as in financial planning. So intentional livingf.com. My calendar's there. Happy to chat. Even if it's just like, hey, I have a quick question. Yeah, like that's what I do. Here to help.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  2. “Because of frustrations, seeing if they're going pretty much anywhere else, they're going to be thrown in a 60-40 portfolio and totally ignored on this stuff. So because of that, it's like my parents actually were the catalyst. They need a new financial planner. I couldn't find anyone to help them. I was like, fine, I'll work with them. And if I can't send my parents somewhere else, how can I in good conscience send other people somewhere else?”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  3. “I'm on Twitter. It's at Jim CryderTX in Texas. My financial planning company. I worked specifically, like for the first two years, I didn't allow anyone over the age of 45. So only young families. Last spring, I started allowing older people, traditional, we'll call them. And then right now I'm actually heavily pushing. And I'll take younger clients, but I'm actually really pushing heavily into more traditional retirees and pre-retirement.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  4. “Whatever. I love that. And you could pull that out. They're like, what are you talking about? But it's using it in good ways. You know, we've got a Swiss army knife of memes and education. Like understand how to use it. You're trying to go in there and help somebody to get a splinter out or whatever. You're not trying to go and stab them and shank them to death. And I think that's what happens a lot. People walk away hurt and bitter because they were just shanked a bunch. And it's like, why didn't you listen? It's like, well, man, like, use the tools you have to help not to poke too much. There's a place of, there are people like the financial planners. I poke a lot because sometimes they just can be poked. But most people, they just need to come in and it's like, hey, come here. I need a, let me help you get this thing off you.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  5. “They crack me up. But in my head, I'm like, wow, I'm a walking meme. But we, I think those are, they can be very punctual ways of highlighting problems or solutions, but we need to be aware of how we're using those tools. I love the one. I think it's Lynn who shares this one pretty often. It's the Morpheus of So what you're saying. So you're saying that one day I'll be able to sell my Bitcoin for millions. No one I'm saying is what when you're able to, you won't have to.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  6. “That is frustrating, but just recognizing that was me once. Like, wow, that's crazy. That was me. Or like the one of the party. And it's like they don't even know. I feel like that every time Bitcoin's pumping, I'm like walking the sidewalk. And it's like in my head. It's like, I'm the guy at the party. They don't even know that Bitcoin's pumping or they don't even know that the dollar's trash.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  7. “Is funny. I feel like I do live in a meme world. Right now, that meme of, wow, that's crazy. Hey, did you catch the game last night?”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  8. “Can we talk about maybe buying more Bitcoin? And then it's like, hey, I want to own this thing directly. And we talk through like how to custody and all that fun stuff. But for grandma's sake, like maybe you have time to sit down with grandma and she trusts you to actually sit down and like, all right, grandma, we're going to hop on River and we're going to buy Bitcoin and move it over to a cold card. She's like, at that point, you are buying it with her money. Let's just admit it. That's what you're doing. Maybe that's the case. Or grandma's not going to own any and you're not going to give her exposure at all because you're too consumed with she has to own in the most pure way versus like, look, just get your toes in. And I would rather go that way. And maybe that's wrong of me. But it's like, I'd rather have you get you exposure in some capacity than just like, well, too bad until you can really, until you've got laser eyes maxi, you're not going to own any of this. It's like, I mean, I first stepped into this through GBTC. Like, yeah, okay, but that forced me to keep learning more. Yeah. I think there's a lot of people out there.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  9. “Misconceptions. So good. I share that in a few more, like the Parker Lewis of Bitcoin's not a hedge, those sorts of things. I send it to them and maybe a copy of the Bitcoin standard, stuff like that. And then it's inevitable that within a few months they reach out. It's like, hey, Jim.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  10. “Is grandma never going to buy it or like I have a fair amount of clients who right now we have not gone and bought Bitcoin directly and moved it to cold storage the majority have But there are lots who have not yet because it's like, hey, Jim, I agree. I need to have exposure to this thing, but like, we'll get there. It's like, cool, let's just get exposure right now, like baby steps. Let's just get there and they'll continue learning. It's inevitable. We go through, we have that conversation. I'll walk you through earlier. And then afterwards, like, hey, let's, I want you to keep learning some more. And then I'll send them like, like, I love your first episode with Breed Love on.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  11. “So good. Is it riskier? The question here is is it riskier to have a 6102 or something like that or to just not have exposure to Bitcoin at all? That's the question.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  12. “I advocate to own Bitcoin directly. Like if you're going to own Bitcoin, you probably want to own Bitcoin. Yeah, we start with that. Like, it's the way of”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  13. “Phantom taxes, the phantom taxes are going to be hilarious. I didn't sell anything. It's like, oh, it's because we sold Bitcoin 19 times in August.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  14. “I believe that by the end of next year, we will see those not just in Canada, but in the US with Fidelity funds. And it would not surprise me if we see 1% to 5% allocation in Fidelity's target date funds. That means there are going to be an incredible amount of people who own Bitcoin inside of their 41k plans just by opting into the 2060 Target8 fund, because that's what I'm going to retire. And then suddenly, you know, institutions, Fidelity is not going to be trading this like some bro that leads these massive ebbs and flows of these hype cycles, they're more long-term informed holders. So I totally agree. I'm just really curious to see to what extent retail versus institutional is able to impact these things. Again, I would argue it's going to be massively reduced, but still noticeable. And maybe I'm projecting that I just hope it's there because, man, I hope it's there, you know, how to save all these questions.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  15. “That is, I would agree. That's my thesis. And with the adopters, like, I mean, we're seeing that already. Like, for instance, the whole, the fidelity mutual funds up in Canada, you know, there's like the total. Allocation funds. So, like their conservative has 1%, they're moderate to 2%, their aggressive is three, I believe.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  16. “I agree, yes, I actually completely agree. I know it doesn't sound like that, but I believe there will still be some correlation of the having with what we've seen, with this like whatever, 1520x followed by 70 to 80% drop. I do not believe, and again, I'm totally guessing here, I don't believe the drop will be 80% this time around. I think it'll be drastically reduced and then it'll be reduced again next halving cycle. And then again, the 2032 cycle because of dispersed education plus just the stock to flow impact where like the having just doesn't make as much impact from the again from a stock to flow perspective. Those two things coinciding. I think it'll be like really boring ebbs and flows of price with the having cycles. I've got a weird.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  17. “It's going to be an understanding of Bitcoin. Like, I personally, I'm probably wrong. But for right now, I think that we will continue to see to some extent these ebbs and flows of the price movement dictated or highly correlated with the having cycles. But I think we'll see a massive decoupling from that in the 2032 cycle. I think there's two reasons that would lead to that conclusion. One of those is more broad deep education and adoption. Again, educated adoption is what's going to build strong hands and long-term conviction versus this hype. I mean, that's the hype that fuels all the speculative mania. So broad understanding and education. And I think we need more time. Again, like right now, the adoption rate, educated adoption rate of Bitcoin's like 1% of the population. But it's picking up massively.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  18. “The things that I own are probably the most valuable in Bitcoin terms that they'll ever be right now. And yeah, that's someone who's super ingrained in Bitcoin. And it's that, again, I love the simple things. Just reminding yourself of that. It is the money.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  19. “This is going to seem super simple, especially to most of your listeners who are super familiar with Bitcoin. But recognizing that Bitcoin, it's not a company, it's not a stock. It is the denominator in these equations. You have to go there. And that then informs so much. Like there's not going to be stock splits of Bitcoin. There's not going to be arbitrarily more units created. It's not competing against the NASDAQ or a particular company. It is the thing that those things are going to be priced in. That's something that is so profound that on a regular basis, I have to remind myself of that. When you're thinking through, again, like if it's like, oh, should I buy this real estate property? Or even owning my company? I was talking Jesse Myers. You've had Jesse on your show, I believe. Yeah. I was talking with Jesse recently and he was like, look, man, I've come to terms that it's most likely.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  20. “Yeah, but you cannot go there until you've asked these questions. I think that's sort of why Bitcoin's easy for me because for these conversations, because they're super similar. I have these questions of like life. What's important to you in life? Your money is just a means of helping you do what's important to you in your life. Oh, and they'll move to Bitcoin. What is money? Like, what is Bitcoin? We're not talking about Bitcoin as the solution to a problem. We have to go deeper than that. Like, what's the problem here? What's the thing we're trying to address? And it turns over to each other the conversation type super simple, like simply. And people start connecting the pieces of why and how these things work. And actually how they work in tandem.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  21. “Again, like if you are not being informed by what's important to you, you can have a goal, but that goal is going to be way off. You think you want a house, you want time with your family. You think you want retirement? You want time to do what's important to you. You think you want lots of money? No, you want options to be generous and to give and do.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  22. “I missed it. And I break, you know, people break down tears all the time recognizing that, like grown men making a fortune, realizing the whole reason I did this is so I can spend time with my family. And man, it's gone. That's why I'm very cognizant of my job. Like, again, I want financial freedom. One of those reasons is so I can spend a lot of time with my family. Thing is, again, I have four young kids. My kids right now want for me to read them at night. They want me to sword fight with them in the afternoons. They want me to be present. I can't say, hey, Atticus, sorry I can't be around. Don't worry though. We'll get a house and tell your ride in 10 years. Then we can hang out. You know, in 10 years, like, forget you, dad. Where were you when I wanted you to read to me and cuddle me?”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  23. “And we didn't have good clothes. We didn't have great food. We never went on trips. And I just heard them bicker all the time. And I decided when I was 12, I wanted my kids to have a better childhood than I had. Man, that's amazing. And clearly, you're able to provide them for them in a different way. How was it? How is being a parent? How were y'all's kids' childhood? Was it able to be what you hoped it would be when you were a kid? And man, I've had so many occasions where they just stop and realize for the first time, like, I don't know. I was at work too much.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  24. “I've had countless conversations that lead to tears for people who are like super successful. Or people who totally missed the mark And what happens a lot? So, for a while, I did, I worked particularly with physicians who are about to or just retired. So these people usually make in half a million to two million a year. And in their 60s, early 70s, and we would sit down and we would talk about their family and those sorts of things. And we'd look at their money. It was like, wow, y'all were wildly successful financially. I'm really curious, like, what made you want to do this? What made you want to be a anesthesiologist and do these sorts of things? And the answers so often. It's so sobering. It's well, when I was a kid, my parents fought about money all the time.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  25. “A function of these things. And that's where again, I live in this weird dichotomous world of like who didn't CFP stuff and like, okay, that point do we take change. And you're going to be taxed at $18.3% long term cap gains. Like, you better hope that you time that dip by at least 18.3% dip to buy that thing to break even on a post-tax basis. Yeah, it's lots of fun conversations.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  26. “And now it's 41%. And we talk through like, okay, like I would assume at the end of this bull run, like totally guessing, obviously, but I would assume it's going to be like 90% of your total investable assets.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  27. “That's the meeting I had last night. It was okay, right now, I think we bought in it. Bitcoin was like 5% of their total investable assets. Maybe.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  28. “That's the problem with, like, that's why people get frustrated is because you don't get it, you don't get it. It's like, well, they never have the understanding of why they should get it. I have the privilege, I recognize it, of people wanting to have these conversations with me and trusting me versus like, you know, a drive-by Bitcoin that you're, yeah, you're less apt to get an adoption from that because you don't have that trusted relationship and the ability to have those conversations.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  29. “It's like I'm not saying that's the end case right now, but like, okay, at that point, like there's a 2% allocation in gold makes sense. Does a yeah, so it's all about education and informing deep, you have to go there. There's no shortcuts to this.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  30. “At first, our average allocation for clients were like 10 to 20 percent. Right now, I'd say on average, our clients have 35% of their total natural assets in Bitcoin, which is managable. But in some senses, but like we are deeply talking through these things. Like you show someone a chart of post-World War I Germany, the gold versus German marks.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  31. “And if you've started there and you talk through my second definition of money is money is a means of communicating, storing, and transferring value across space and time. And then we've talked through Bitcoin. And I believe that Bitcoin is the best form of money we've ever had. And it's like, cool, money is this thing and it's this thing. Are you aligning your money with what's important to you? And is Bitcoin part of that? And if so, what role does it have? And then it's inevitable that we bring these clients who came to us looking for normal dude in a suit for a 60-40 portfolio arrive at, yeah, we should definitely own some Bitcoin. And usually that starts off for me conservative, for most people, absolute nuts. I guess people on Twitter would think it's still conservative, but normal people like.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  32. “These other things. It's like, okay, now we can move forward. And we are super apt to not change our minds. So when we had a client who joined in the all-time high, 69,000 prior all-time high. And they rode Bitcoin all the way down to 16. I didn't have a single client who sold Bitcoin at the bottom, not a single one. I had a lot of clients who we went and scooped up a whole bunch at 16 to 20. It's because your values didn't change. Your goals didn't change. The underlying role of our view of Bitcoin didn't change. Why would we change our plan? Of course, if you owned Enron and it's down to two cents, still sell it. But you have to understand like, why do I own this thing? And that's where we have to anchor into education. Yeah, that's sort of hard for me to answer. Like, how do we arrive at those conversations? But it's super easy if you start off on the same page. That's where, like, I mean, that's why I got into finance. Money's the number one cause of divorce. Basically every year these studies.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  33. “Once we've done all these things, then we can go to specifically in this case, like Bitcoin. And it's less of a Bitcoin conversation. We've already done the hard work. It's like, okay, cool. Now we just talk through the opportunity cost, the risks, the volatility.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  34. “So we have to start with clarity of vision. So, values, goals, decisions, finally action. So once we've gotten to this place of taking action, I know it sounds like a lot of like talking through allocations and Bitcoin and all these things, but really we've done all the hard work up front. Now we can go and we are less apt to waste resources, money, time, career choices, family choices because we have direction of what's important to us. Everything's being addressed or informed by that. So for now, it's like, hey, Bitcoin allocation. We already discussed the opportunity cost also have them do sort of a pre-mortem of like when we start working together, what's the most likely things? I paint this picture that's relatively grim in the future. And it's like, what things, what actions were taken or not taken? What things happened or didn't happen between now and then that got you to this point? So I allow them to inform me and themselves, what's probably the most likely cause of them being unsuccessful. So anyways.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  35. “So we have to go there. Once we've established that, then we go into what's the goals you have, recognizing like your goals are going to change, that your goals today are different than they were five years ago, and they're going to be way different five years from now. That's totally fine. The purpose of a goal is not to be arbitrarily tied to this thing you once said was important to you. It's to inform what's the best next step to take. Understanding as you take these steps, that goal will change, but if your goal is informed by the backdrop of those values, even as that goal shifts, you're still ultimately pursuing the underlying informative of that so values, goals, then we talk through decisions. So we talk through the opportunity cost, the things that you will have to decide upon. If you choose one thing, you are directly or indirectly giving something else. If we've gone through all of those things properly, finally take an action should be relatively easy. I forgot who said it. I heard it years ago on a podcast. When your vision is clear, the decisions are easy.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  36. “So when we start off with working with families, we have to go there. Like underlying base values for your family, what's important to you? That has to be past goals. If it's like, oh, yeah, we want to have a house in the mountains. Okay, that seems arbitrary. Why? Oh, we really want a place that we can gather as a family to create memories. It's like, oh, you don't want a house. You want memories with your kids? That's what you want. So we have to go there. You don't want retirement. You want freedom to spend the time with who you want to be with doing things that are important to you, not retirement. You want time freedom.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  37. “So to get to a place where we can have good communication and arrive at proper action steps, we have to go way back. So way back is not assigning portfolios or talking tax planning. It's also not talking about goals. Like we want to buy a lake house. We can't go there. We have to go back to the underlying values. What is important to you as a family? So I have sort of two definitions of money based off of the context. So one of those is that money is a tool or resource to help you do what's important to you in life. And my job is to help you use your money in the most efficient and effective manner for that purpose. That's what we do.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  38. “Sorry. No, it's like, yeah, Montana this fall, when we go out there for that Bitcoin retreat, like Kendra's going to come so she can go hang out in the mountains so she can talk about Bitcoin. That's totally fine. And that's how most of our couples we work with are.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  39. “And then I just prodded them some with like considerable volatility, consider sequence of return risks, things like this. Like what would be part of my job? And they both like, okay, yeah, I definitely want to go up. What about 25%? What about 35%? They just sort of bounce it back and forth. So my wife, Kendra, brought this up a few nights ago of like, she doesn't really care about Bitcoin. Like she goes along with it. She understands what she needs to know. But like I would assume she's a lot like your wife. Like your wife has a pot. She didn't have a podcast about this. Like, yeah, great. I trust you and I love you, babe. We're in this together. That's the least where Kendra and I are. That is exactly where.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  40. “I guess a few things to that. So I had a meeting last night. It was 10 o'clock, meeting with a family I've worked with for a few years now. And we just calculated like, all right, let's get updates where you are. We recognize that right now, 41% of their total investable assets are allocated to Bitcoin. And we were talking about one of their investment accounts. Should we increase, decrease, or keep the same towards your Bitcoin allocation there? And they said, Jim, what do you think? Said, well, let's hear what y'all think first. And I knew the husband was the question. I knew he wanted to increase.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  41. “Pipe just dumping in this toxic waste. Yeah, so it's being trying to be patient with people and recognizing like I did not know this all the time. I was fortunate enough to listen to you and listen to other people. And yeah, eventually you have to do the work yourself.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  42. “The dollar itself that you're buying that with went down in value. And I think people starting to wake up to this. That's why you're starting to see, I don't have TikTok, but I see these videos reposted of people just like sitting in their cars probably after a long shift recognizing like, why am I doing this? I go to the grocery store and I can't buy anything. And like I'm stressed at work. And I think people are starting to wake up to like something's wrong here. Why do I feel stressed all the time about my money? And why does it seem like it's not taking me as far? I have people all the time. I had someone put on my calendar yesterday morning that, hey, young family, they make good mount multiple six figures could have done like a few decades would have been undoing insanely well. They said make this much, but feel like we're constantly behind. And that's where I think people are just at. It's like, what's wrong? So they understand now there is something in the water going back to that terrible analogy about the fish. There's something in this water. It's getting murky. But what is it? They don't see this massive.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  43. “My house did not get 31% better at all. I have four young kids. It got worse. Definitely. Holes in our sheetrock to our kids running into the walls. Like, it got 31% worse. So you have to recognize some of that growth of value to real growth, to people coming in. The problem is most of that's nominal. And my house did not get 31% more valuable.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  44. “Yeah, that's so good. I love Sailor has an interview with Tucker Carlson, and he brings up that the inflationary basket of goods. And he mentions, like, look, if you live in your parents' basement and you eat domino's pizza, your inflation rate's going to be next to nothing. But if you desire scarce desirable goods, your inflation rate is something different. And that's where, like, so my house, I live in Texas, and a lot of people move to Texas, and especially our town. Like in 2021, the quote unquote value of my house went up by 31% during that year.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  45. “Two trillion dollars that was just passed over like a couple hours, a thousand Okay, this is odd. Something's got to be broken. I spent a couple of weeks going on these crazy long walks, listening to your podcast, reading books on gold mining and Bitcoin. And after a couple weeks of just like, that's all I did basically. I was like, all right. I'm going to go with Bitcoin, but I would not have gone there unless I recognized something's wrong with the apps like the foundation level of our structure. And most people don't know that yet.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  46. “Jesus died, so you can be saved. They won't understand that. The thing is, the Old Testament was thousands of years in the making of there was a law that was given to people. And the purpose of the law was to show that you can never fulfill the law. It was to show that you were absolutely broken and in need of something outside of yourself to save you. That was the role of the law. That way when the solution came, being Jesus came, you could recognize, okay, what I have I can't do on my own. I am absolutely broken. I need something outside of this to save me. So you have to be completely aware of your brokenness. I look at it in a very similar way. You have to be aware of the broken system. And if you're not aware of that, you don't have the need for solution. And again, most people just don't know the system's broken. And that's where, again, like educating our clients, showing them that bill that got passed this weekend of like the one point.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  47. “Yeah, yeah. They're like, you know, cream of the crop, finage planters, and you would hope you or your parents or grandparents go to. Like these type of people. Crazy smart people. And the problem is they pride themselves in thinking differently than like the other traditional Raymond James or Merrill Lynch guys. Like, okay, we're going to really do what's best for our clients. But they won't go there. And that's what frustrates me. But like, yeah, normal people, I can go with that all day. Because I remember I was one of them. I heard about Bitcoin in 2012. I didn't pay attention because the guy that I heard it from, I thought he was probably stoned most of the time. Like, all right, whatever. So I used to be that guy. I shouldn't expect some guy off the street to understand that like, oh, yeah, our money is absolutely broken and all these things. You have to pay attention to these things. So here, I, you mentioned earlier about the identifying the problem. This made me think. So I'm a Christian. And you can't, if you come to someone and say, like, hey.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  48. “Yeah, I did not want to come across as a jerk. And there's a point that was like I was viewed as a jerk for a very long time, but I was still bringing value. But I got to the point where it was like, I'm casting pearls before swine. I'm going to step away. I think I'm much more tolerant from normal people rather than financial planners because financial planners like, again, these are like super smart planners who like out of the system like these weird terms like fee only CFPs at super smart as long.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  49. “Anymore, so I can't see the conversations. A buddy sent me a screenshot probably two or three weeks ago, and it was a guy saying, hey, we're looking how we can allocate maybe 5% of a portfolio to something tactical to get alpha, looking at DFA funds. And any ideas. And all these people are posting things. And the guy commented said, this is where Jim Kryder would pop in and say you should buy Bitcoin. And then people are like, yeah, that guy, that guy. And then people started speaking. I was like, I actually sort of liked it. And this one guy chimed in and said, actually after his posts before he left, I went and I bought a little bit of Bitcoin's or of Fidelity's ETF. And it's gone up massively. He might be right. So I'm hoping the soil is getting better slowly. But yeah, that's, it's very interesting. Going back, you mentioned something earlier, like how do you?”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  50. “And took me up on it. So the final straw was February of this year. So last month, I went back. I screenshotted that and I posted again. Like, hey, I would love to talk with y'all. Also, here's an update on that wager I made. And if anyone's a update this, I will keep VTI's appreciation. I will wipe Bitcoin's slate clean. Anyone and it still is like, you're such a jerk. How could you? It's like, you hurt my feelings. And at that point, it was like, okay, at least people just think I'm rude and I don't want to say anything that would compromise my integrity. So I was like, okay, I'm going to step out. Funny enough, though, I stepped out and I did have several financial planners since then reach out to me directly and say, hey, I actually always appreciated your candidness and your post. I guess they're afraid to speak up because then they would be lumped in with being a lunatic like me. I don't know. But a friend of mine sent me a screenshot of, again, I'm not part of that.”

    2024-04-03 · We Study Billionaires · BTC176: Bitcoin and Traditional Finance in 2024 w/ Jim Crider (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT