Welcome to the Business
to helping you enrich your
bitcoin, the hardest money on
I'm your host, Josh Friedeman
friend Anaya, who is actually
I did this interview for an
of called Bitcoin is Better,
class families about bitcoin.
I'll be sure to include the
in the show notes.
Luke Broyles and others have
channel and I think you might
The entire focus of this
who are not yet bitcoiners and
about bitcoin.
I'd love to get your feedback
so feel free to leave a
was interesting or what I
or better.
We're going to get to our
this.
Anaya, welcome.
This is going to be one of a
Is better of talking with
just about bitcoin.
Any questions they might have.
We've already had some of
looking forward to hearing
I don't want to steal too much
additional things, but would
who you are so listeners know
Yeah.
So my name is Anaya.
Like Josh said, I'm a fitness
graduated college, looking for some.
Been thinking a lot about
So yeah, just looking forward
I can.
Learn about it for sure.
And for listeners, context,
two or three times probably
bitcoin, but to my knowledge,
on bitcoin.
Right.
So we'll probably talk about
You have brought some
to kick it over to you to
is you want to start with.
Yeah, so the first one's
How does it work?
Explain it to me like I'm five
Okay.
So I guess the simplest
you can go kind of further
of money or maybe a system of
or corporation created.
And most of our money today is
So this money is not only not
corporation, but it can't be
And so it's basically a money
anyone else in the world.
It's free, open, and there are
about it, but once you do
as well.
So I don't know if that
but hopefully a five year old
bit of that.
Are there other things, like,
that would be helpful to know
Okay, so if it wasn't, who was
If it wasn't created.
Okay, who was it created by?
Let's start there.
Yeah.
So you may have heard the name
name of the person behind bitcoin.
We don't know who that person
a group of people, but satoshi
launching before it launched,
he started bitcoin.
And basically what bitcoin is
communicate with each other
sure that everything on the
So at first it was him and
over time, it's grown to where
network which has made it much
But that's been a long process
So it officially launched at
getting towards 2025.
So we don't know who satoshi
Some people have theorized,
Nakamoto.
And basically, if anyone hints
they might know who, a lot of
really want to hear much about it.
And part of that's because a
of ride on the coattails of satoshi.
But also today, it doesn't
is, because bitcoin is what it
that today.
So it's kind of taken on a
any changes to bitcoin in
the majority of the network,
the world, have to agree that
So basically nothing is going
doesn't want it to happen.
So it's is that, that's why
It's technically possible, but
ever take bitcoin over.
And the more security there
the less and less likely it becomes.
So like even if the United
other countries, it would just
over the network, get the
like 10 or 20, 30 minutes.
So that kind of goes down like
than is worth talking about now.
But that's a little bit about
matter all that much who
Yeah, yeah, I just was like,
based money.
Would you say it like that?
Yeah, yeah.
So I'm trying to think of the
it's a bunch of.
It's, it's the largest
all of these computers are
by the rules and they are
as it's supposed to operate.
So then that's where it comes into.
And I don't know if you have a
mining, basically what mining is.
Yeah, there are a couple
First of all, there is the
are issued.
You may have heard that there
And that's like all the way
the last bitcoin, or actually
be mined.
And right now the block reward
So it's, you know, every 10
And so whoever, whatever
3.125 bitcoin.
And frequently these days a
pool because let's just say
miner operating in your home,
They the best use case for
Is honestly just like it's,
that specializes in this
and it produces a lot of heat.
So I have interviewed people
the heat from bitcoin miners
greenhouses, different things
But like a single miner would
mining power on the network
mine a block with your miner.
So usually what people do is
And so whenever a miner from
to finalize this next minute
3.125 bitcoin, the block
everyone in the pool.
So the more people you have in
to win a block.
And so it kind of all evens
But the block itself is a
And like I said, on average
And it's, you know, whatever
be kind of next in line based
pay, they will be finalized.
And then there's, you can go
For anyone listening right
of the blocks or all of the
be finalized in a block.
And if you want to pay more
you can get your transaction
And if you're a little more
conscious, then you can pay
bit more time for your
So that's what, that's what
And I don't know if you have
want to go to the next one.
Yeah, so it's like a block
is just like.
That's a good point.
The block reward is kind of
would get or a miner.
There's a person behind every computer.
So right now, since bitcoin is
over $300,000 that the miner
Also though I'd mentioned fees
has fees associated with it
the last, like in the last
where the fees from the
Than the block reward itself.
So like, I guess the reason I
years there's something called
of a programs time where the
originally it was 50 bitcoin
You know, I've said before
2009, I could have used my new
bitcoin network because it's
have mined bitcoin and
a day or two.
But I had no idea about it
And now there's so much more
it doesn't even make sense for
or a PC, to try to mine
the hash page should be so uncompetitive.
That's why you have to have
So you do have the block
fees attached to it.
And really the fees are based
I mean, it's a total free
The Bitcoin network is always
to someone over bitcoin, then,
then you can do that.
You'll have to pay a fee.
And sometimes the fees are
to transact on the network at
But sometimes the fees are
So it sort of, you know,
as to how high the fees are.
But in the future, people
greater than the block reward
And so I don't.
I think that should probably
Some people, like, one last
okay, when, when the final
or so, what does that mean for bitcoin?
Will it still be secure?
Will there still be people
And what really, what mining
new bitcoins, but it is
fees for that.
And by that point in time, the
the fees will be so much
even after the last bitcoin is
and people will just continue
So I think that probably
I don't know if there's any
to go to the next one.
So what makes Bitcoin like, trustworthy?
Well, so a couple things.
First of all, like I said,
network in the world and all
are paying attention to make
operating by the rules.
And if someone's not playing
participate.
So that's one positive thing
Another thing is that Bitcoin
anyone can see the code.
Technically you could get the
your liking.
That gets into a different conversation.
But you know, you could create
have done that in the past,
to use your version of Bitcoin.
They'd rather use the version
using because they can
it.
So you'd want to use the, the
So those would probably be
say is just it's already
network and you can verify the
at the code.
I mean, you and I are probably
particularly techy and if we
be able to see too much.
Yeah, but you can verify
also run your own node and
the rules you care to enforce.
So if someone else did try to
or play by different rules in
they were doing because
rules, which is the rules
So I think that's probably the
is trustworthy and secure.
Some people are concerned by
What I would say is that
probably seen that humans are
to excessive money printing
Like our, we don't need to
have been so many new dollars
years, and anytime someone has
they're going to.
Well, the rules of Bitcoin are
It's following its code and
million Bitcoin.
And so at least when it comes
you can have confidence that
see in the code that it will
Whereas when it comes to the
politicians, they might say
they get into office or to get
office, they.
They can kind of do whatever
So I would say that the
nodes on the network is much
it is today, than people
doing whatever they want when
Gotcha.
So you talked a little bit
What is.
Like, what does that look like?
Like one bitcoin.
Like, how do you.
What is that worth?
Yeah.
So right now, first of all,
It's been volatile to the
volatility does give some
That said, bitcoin has just
coin.
And right after it did that,
as of this recording.
And then the next day, it fell
back up over $100,000 again.
So that's what it's worth.
Right now.
The question that a lot of
be worth in the long run?
And that's the big question.
Yeah, I don't know if you want
now, one bitcoin is worth
What Bitcoin will be worth is
Some people think that it will
A lot of those people haven't
bitcoin.
One of the critiques that I've
United States will shut it
to the dollar.
With the new administration
seems like currently that's
were feasibly possible.
But like I was saying earlier,
and they can't control it, as
used to governments being able
But the reason they can do
our world are centralized.
And so whoever can call up
we want you to do.
Or there are going to be some
But with bitcoin, that's not
all these nodes running around
No one country can shut them
And we even saw back in 2021,
2020, yeah, I think 2021, when
of the miners, not all of
in China.
And quickly they started
world because you can just
So I'm not too concerned about
any government.
But then it's like, what is
to anyone, that anyone can
around the world?
What is something like that worth?
No government can shut it down.
And that's.
I mean.
I mean, I think there's a ton
Actual numbers.
A lot of people believe that
across the next year.
This is traditionally the year
having, which just happened in
The most significant time for
And then following that, the
a significant correction where
80%.
There's some question as to
time.
And, you know, it's anyone's
200,000 to well above that if
strategic reserve asset.
And then other countries fall
If the United States wants to
Republicans in the Senate have
a lot of other countries are
Thousands.
There's only 21 million.
And so, like, what does it
clamoring to get a piece of
There's no more can be created.
So it's like, that's one of
about bitcoin, which is it's
you can't create more.
Even with something like gold,
you can go out and find more gold.
A lot of times people know
The gold price is just not
into the earth and getting it.
So I think that we could see
in the next year or so.
Now, it's also possible that
I don't think World War 3 is
tossed around.
And so if we go into some
or something like that,
And you know, bitcoin might
But there are a lot of people
years, maybe even less than
million dollars per coin,
where it is right now.
And I would tend to be in that camp.
How and when exactly, it's
But that's sort of the, the,
also.
And some other people have
percentage of the total assets
And then what, you know, where
So, for instance, would you
and is significantly
or would you rather hold real
but also has taxes that you
you have to worry about, tenants.
Potentially has a lot of other
Would you rather hold digital,
estate that has a bunch of headaches.
And so a lot of people think
taken from real estate, some
Some people might say instead
I'm actually going to put a
So take money from equities
If bitcoin siphons a little
each one, it's going to grow significantly.
That's not even talking about
like that.
And so there's a lot of
One of the memes that circles
divided by 21 million, which
of everything.
Like, there's no reason that a
high astronomical number.
There's going to be 21 million
think it's worth.
But if nations start piling
wants to get a piece of the pie.
There's only so much to go around.
So I guess the last thing I'll
think the number was there's
in the world to have about 0, 28.
So you know, some, somewhere
a bitcoin and that's just
And so like if the average
is better, is focused on
families, if the average
0.2 Bitcoin, which is like
for a lot of people.
You know, 0.1 Bitcoin right
But if you can start getting a
it in long term savings, then
probably be a whole lot more
So how do you have access to
Like how would you be able to
You know, we have like debit
you get that money?
Money out There are a lot of
Most people listening to this
If you have cash app, that's a
bitcoin.
And then right now, you know,
people place money in as a
First of all, it is a store of
Right.
You're putting your time, your
is, do you want to put it into
That may be volatile, but you
you're always going to have
available or across the years,
You know, in dollars.
When I was born in the early
it is today.
So probably more than that.
And so like across 30 plus
of what they used to be.
And if inflation continues to
kind of like optimal in
2% target is what people, I
Reserve likes.
If it stays higher than that
then the value of your dollars
Yeah, so a great thing to do
can.
Some people dollar cost
month, whatever, maybe it's
can turn some of that into bitcoin.
So also there are a couple
used or would recommend that
you use it on a day to day
Just as of the recording of
I don't know when this will be
who is the CEO of Strike, he
app, which is a way that you
You can turn it into dollars.
He basically lives, he has
bitcoin and he has enough
volatility.
But over time, you know, his
But he just released this
pay your bills so you can save.
And also Strike has this
has this feature where you can
and have some or all of it
And so, you know, just there
when bitcoin hit the cycle low
like 16 something.
But it was, it was in that,
you know, well, well less than
And I was just like, where do
buy bitcoin?
I bought bitcoin and it's more
held it there.
And so, you know, you think
know, $16,000.
When, when Bitcoin is worth
That $100 is more than 500 now.
And so that's crazy.
Like over the long term, if
the value of bitcoin.
But you can pay your bills
Just with the bitcoin in the
Strike.
Another great one is Fold.
And Fold has a debit card
similar features.
But you can save in bitcoin
your card in the form of
like you would a normal debit card.
So those are a couple
kind of interface with it in
and kind of easily transfer
it's most advantageous for you.
Another one, you know,
I host a podcast called
interviewing business owners
And frequently it's, you know,
sheet or they might be
There are some other things
more clever that may not be
you can accept bitcoin in your business.
Or like, you know, if I were
to sell me something, if we
in bitcoin.
And so there are practical
And that, that's where it kind
the second, I guess, level of
that's like cash today.
Like, everyone pays for things
Dollars are our medium of exchange.
And that is the future, I
There are some things that
You know, the base layer, a
every 10 minutes.
And so you're not going to pay
Maybe the fees are really high.
So it's like, you know, costs
You have to wait for 10
Like, that's, that's not practical.
No one's doing that.
It used.
The network was fast enough
enough.
There was not as much
and it was a little more
chain, kind of the base layer
But now there are what you
to be developed, like the
The lightning network is a way
forth, basically at the speed
So it's a lot easier, it's a
hardly any fees involved.
That's how a lot of the medium
With bitcoin, there's some
that are being developed right now.
And then the final one is a
And the unit of account is
You know, when someone says,
And they say it's the latte,
They don't say it's, you know,
But when you get to the level
bitcoin, then that's a
because people are thinking in sats.
They're not thinking in cents,
are just little tiny amounts
Every bitcoin can be broken
sats.
And so, like, you don't have
I don't know if.
I think you probably know that
I think It's a thousand sats
Or a thousand sats for a dollar.
So 10,000 sats for $10.
Yeah.
So the math is a little bit
$100,000.
But you, you know, you could
to having to pay $100,000,
know, impossible.
So that's a long tangent, but that's.
Some of those are some of the
And I would highly recommend
if you wanted to kind of be
an easier way.
One other thing about Fold is
get a percentage back in
So those are some potential
use if they were interested.
I have both apps.
I use both to some degree, but
them more in the future.
So.
Any other questions or maybe
Oh, I know you mentioned fees
Or trading their bill or
Like, why would, why would you
Isn't it better for you to
That's the crazy thing about
everyone has different reasons
Some people are not nearly as
So you get to the
you want to sell because
it was $400, and whenever it
it's like, close enough you're
But I agree that, like, with
long term, keeping it in
very likely be incredibly
So there are, yeah, there are
these leveraged positions
down, they make a whole bunch
that are never selling.
But the more people that learn
the potential in bitcoin, the
And each, you know, each
high.
There's this whole new group
okay, I discounted this when I
time, or two times ago, or 10
But now it's clear to me that
so I should start taking it
And every time that happens,
buy bitcoin with the intent of
10, 20, 30 years or passing it
And when that happens, the
decreases.
You know, like, so let's say
end up getting purchased.
And they're like, people say,
It might be more than that
means there's only 6 million
Well, there's also a bunch of
not available.
Like, Satoshi has about a
those have not moved since he
earth.
And so those probably won't move.
And so, like, There are about
probably won't move because
reason.
And so you're getting to this
available to be traded or
tiny.
And that's the bitcoin people
That's the bitcoin they're
for.
And at a certain point in
I have this bitcoin and I
And that's when the price
this crazy crunch because
there's not enough to go
I mean, there's always enough
you know, let's say you got in
$1,000 a coin, you bought five
Well, those five are probably
You're saying, I went from a
There's no way I'm going to
it's going to go so much higher.
So.
Yeah.
Why do people buy and sell?
Who knows?
Everyone has a reason, but at
to do is to buy it, to hold it
term.
Yeah.
So I don't know if we've
Do you have some additional
or some additional things that
this conversation?
No, I think you, you pretty
Even the questions I didn't
So it's starting to, I think
now.
Yeah, I think I'm starting to
Well, any, you already know
and shares, who's not yet A
So you are going to get your
this recording.
And it's a good step in the,
the right direction.
But I would just would like to
if you have money that you can
a great way to do this.
Even now, you know, $100,000,
but they've said that, you
they've set it at a thousand.
People were selling at 400
it went up to 400.
You know, I'm just sort of
But people, people have sold
of their ways across the long term.
So anyone who does, especially
have a lot of extra money, if
term savings account or
what bitcoin could do for your
the long term.
So, and I, I'm going to kick
thoughts you may have before
No, this was good.
I'm probably, definitely gonna have.
I can't think of any more
into it and actually start
definitely have more questions
But that'll be offline, of course.
But this is great.
Yeah, I learned a whole lot more.
Well, now you can hopefully
there are going to be more and
across the next year as the
And now you probably know more
Maybe that's a little
more because you've actually
couple previous conversations
it.
And I think it's a little
now.
Hope my answers have been
Yeah.
Great.
Well, Anaya, thank you so much
It's been a pleasure.
Yeah, thanks for having me.
Well, friends, it's a wrap.
Thanks so much for listening
show.
Remember to check out the
and leave feedback about how
I'd love to hear what you have
As always, keep building, keep
living and leading.
Well.