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Getting Started with Crypto with Daniel Hall

George Grombacher July 7, 2022

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Getting Started with Crypto with Daniel Hall

LifeBlood: We talked about getting started with crypto investing, how to think about the asset class, what the proper time horizon is, and how to get started, with Daniel Hall, best-selling author, speaker, coach and trainer!

Listen to learn why lending your crypto could make financial sense!

You can learn more about Daniel at ThePlanRocks.com

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Our Guests

George Grombacher


Daniel Hall

Episode Transcript

Unknown Speaker 0:00
Come on

Unknown Speaker 0:11
we’re left with this is George G and the time is right to welcome today’s guest struggle powerful Daniel Hall. Daniel, are you ready to do this? I’m ready to rock and roll. All right, let’s go. Daniel is a Wall Street Journal and USA Today best selling author, he is a speaker, consultant, a coach and attorney and nurse. He is the host of the Daniel Hall YouTube channel and he is the author of one coin to coin what coin Bitcoin annual excited to have you on, tell us a little bit about your personal life more about your work and why you do what you do?

Unknown Speaker 0:44
Well, a little bit about me, you’ve kind of read through the the list, you know, went to nursing school. And then I went from nursing school directly into law school practice law for seven or eight years. And then about 2004, I started my own publishing company and left the practice of law. And I basically have been doing that since and in sort of that world where you get to meet a lot of different,

Unknown Speaker 1:09
very, very interesting and astute people that is in the authorship niche. That’s basically it’s opened up so many doors to me, including this in the crypto world. So that’s a bit of background on me. Is that responsive?

Unknown Speaker 1:26
Does present I appreciate that. So

Unknown Speaker 1:31
I appreciate that. So, I mean, I think I feel like I’d be remiss is it is is nursing was that just how how did you come upon that first?

Unknown Speaker 1:42
Well, I always I always knew that I wanted to go to law school. But I thought it would be a very good idea to you know, put a firewall in place and have an additional professional degree. And since I had had to have a four year degree to get into law school, I thought maybe I should get a degree that would allow me to make money if the law thing didn’t work out, or if I didn’t like it. And so I have a natural affinity for the sciences are pretty, pretty easy for me. So I just thought this would be a good thing. Plus, I was working at Mayo Clinic in Jacksonville and my my wife who I met there was a was a nurse some very it was very,

Unknown Speaker 2:22
very comfortable in that milieu. Got it. I appreciate that. It’s very pragmatic as well. So well, it turned out to be pretty, pretty good shot. Yeah, it was it turned out to be a good thing. Awesome. And how about authorship? These are the love of science is certainly one thing. And then I imagine that you probably learned a lot going through law school from a writing perspective, and being an attorney, I think involves a lot of that, but it’s probably a little bit different. How is that? Tell me a little bit about your passion for writing?

Unknown Speaker 2:53
Yeah, sure. I very early on, figured out that if if I could write well, that even though even though I may not have the mastery of the material in classes, if I could express myself in such a way via the written word, I still did very, very, very well. Even though perhaps my, my knowledge base was not really what it should be. But I could because I could write

Unknown Speaker 3:19
I was able to essentially do very, very well in school. And that trance sort of transferred into law school into the practice of law. And then into my first book that I published myself was called speak on cruise ships, eight easy steps to a lifetime of free luxury cruises, which is another thing I used to do. Nice. All right, again, pretty pragmatic right there. So love it. And now here we are in a

Unknown Speaker 3:51
brave new world where people are certainly now made aware of what cryptocurrency is the world of NF T’s and web three, five and six and seven and everything else. Talk to me a little bit about why it is you decided to write a book on on on crypto.

Unknown Speaker 4:09

Unknown Speaker 4:11
I’m sort of I’m very much a crypto Bull. I believe that this is the future the future of money and not just the future of money, but the future of technology visa vie the blockchain. And as I know that when I sort of dipped a toe, it was not easy to figure out and it was actually kind of scary and I don’t scare very easily, but it was my my own money. And, you know, this book basically grew out of

Unknown Speaker 4:43

Unknown Speaker 4:45
That journey that I took with with my partners, Dan Hollins and Elaine Wilks, who Co Co wrote the book with me. And essentially, I wanted to provide a or we wanted to provide it

Unknown Speaker 5:00
easy step by step can very, very consumable way to dip a toe into that world and so the book, we explain things, you know step by step very easy the whole sort of premise of the book is it was kind of like Dr. Seuss teaches you cryptocurrencies and Bitcoin. So it’s there’s Ryan’s in it. There’s lots of pictures. Another one of our

Unknown Speaker 5:28
another one of our partners, is Lisa Rothstein. And Lisa is a cartoonist for The New Yorker magazine. So we have all kinds of great, you know, explainer cartoons in it essentially, that make the make the book fun and, and easy and not intimidating in a very short read. So I think it’s 105 106 pages, or what, about 100 to 506 pages, or so. So it’s a very, very quick read. And then the other thing that we wanted to do

Unknown Speaker 5:58
is in crypto, you must know, what your passwords are, what your seed phrases are, it’s real easy to, to kind of lose track of all that plus lose track of where your funds are. So the other thing that we included in the book is essentially a kind of a journal. It’s a it’s a, it’s a journal where you can put in all your, your past codes, your what the funds that you’ve invested all of that, just again, to make it easier to enter this world and keep things straight.

Unknown Speaker 6:36
I love it. I think that that makes a ton of sense. I’ve been spending a good amount of time thinking about how to take confusing, intimidating ideas and make them easy to understand. And certainly we’re so visual as human beings. So the more that we can link up something that’s fun and approachable. That’s, that’s, that’s all for the better. And once you start doing that, it seems obvious. But what was it? Is that something you’ve learned along the way of of expressing different kinds of ideas? How did you decide to do it this way?

Unknown Speaker 7:09

Unknown Speaker 7:11
so as I said, one of my partners is Lisa Rothstein, and Lisa and I have another course together that because I’m basically a course creator, as well as an author, and we did a, my brand is real fast. So I have real fast book real fast audio book real fast doodle profits, which is what I’m going to talk about right now,

Unknown Speaker 7:33
in real fast doodle profits is essentially a course that Lisa Rothstein and I did to show people how to use the very kind of crude sketches to explain ideas very, very quickly. So that there’s, you know, there’s a lot of sort of impedance when when you’re trying to explain something merely in words, but when you marry words, with pictures,

Unknown Speaker 8:04
it basically, you know, snaps right into place, and it just so much easier to to understand what’s what’s going on and to, and to grasp a concept or grasp an idea, that’s, that’s really the reason why we did it the way we did, we want it to be approachable, not scary.

Unknown Speaker 8:21
Right, which certainly, the space the crypto industry is because there’s so much, you know, uncertainty, and it’s a new thing. So, exactly, I appreciate that. All right. And I also appreciate that it has that practical journalistic sort of workbook element to it, because I always want my work to be useful as

Unknown Speaker 8:42
showing how smart I am to other people. So, all right. So when when, when somebody picks it up, what is what what what was your goal in writing it

Unknown Speaker 8:54
the goal in writing that was to serve the the crypto curious and the crypto newbie. So, which there are literally, you know, millions and millions of people in you know, in that particular market, who are interested in cryptocurrencies interested in buying Bitcoin, but they’re, they’re afraid, and, and it goes back to that whole idea of we’re trying to make this accessible, and and not

Unknown Speaker 9:27
not are easy to understand so that they’re like, oh, okay, this is the way this works. And I have this sort of step by step book, that kind of allows people to to kind of walk through the process and get some get some cryptocurrencies into an account and, and really kind of start huddling it or are holding it huddled as a sort of a word that was developed in the industry, by the way, it’s H H O D L, which somebody misspelled way back when

Unknown Speaker 10:00
And they went from holding right? To hold to Hodel just because of the juxtaposition of the letters at any rate. So that’s another thing that the book does is it is it helps you to, you know, to to Hottel or hold money or cryptocurrencies. So hopefully in the in the future, it will go up in value. And it’s, it’s, you know, a pretty good bet, I would say, increasingly a good bet that over time, that it will really, really serve people well. Now, on the other hand, I don’t have a crystal ball, I don’t know exactly what’s going to happen in that market. And that’s the other thing that we try to stress is that people should not invest any more in crypto than they can afford to lose. Super important point. Because there there are some, you know, it’s a challenge out there. There’s great opportunities, but there’s also great risks.

Unknown Speaker 10:59
Yeah, it’s interesting to me, I really, I think we’re probably cut from the same cloth. But I think that it’s going to be a really transformational and very useful technology for more reasons than probably many people have even considered or thought about. And I think it could also go to zero, so there is the potential, or all of this exactly, it’s a it’s a very wide

Unknown Speaker 11:24
you know, probability cone, I guess, you might call it, but I don’t think it’s gonna go to zero, I don’t think it’s gonna go to zero. I just because as the like, the price of Bitcoin

Unknown Speaker 11:38
goes down, you’d have a lot of what are called whales in the industry.

Unknown Speaker 11:43
And whales, for those folks that don’t know are basically

Unknown Speaker 11:48
holders of cryptocurrencies in very large wallets, very, they have a lot of cryptocurrency, and sometimes they will, they will come in, especially as the price dips, and they will buy the dip, which if you look at the metrics online, right now, as we, as we record this, that a lot of that is happening as the there’s a price to kind of, as we’re as we’re recording this, we’re about $30,000 per Bitcoin, more or less, and if it kind of goes down, really much lower than that you you see a lot of whales come in and actually buy, buy it up, which then of course raises the price back up. And then when you when you figure that in the next couple of years, there’s going to be another Bitcoin halving, which I don’t entirely understand myself, what what goes on there, but over the last four times three or four times that his heart is always spiked, like way up. So

Unknown Speaker 12:47
that’s one of the other things that we you know, we really want to do is we want to put people in a in the position to potentially do very, very, very well in advance of that the next Bitcoin halving.

Unknown Speaker 13:01
So how are you? How do you think about time horizon? We talked about holding?

Unknown Speaker 13:06

Unknown Speaker 13:10
As far as what’s what the market is going to do, as me as somebody who is crypto curious, say, okay, yeah, I’ve got a little bit of money sitting around. I’ve got $10,000. And I’m curious about this. Is this something that I should be looking to make transactions on or it is buy and hold? It’s going to be dependent on my financial situation, obviously, but what are your thoughts on that?

Unknown Speaker 13:37
We so

Unknown Speaker 13:39
we, that is Elaine Wilk, Stan Hollins. And myself, we wrote this book. And basically, I was taught everything that I know, at least initially by Dan, and then we put out this this course called the plan. And one of the things that we teach within the plan is that you should be huddling

Unknown Speaker 14:03
a certain percentage, I think it’s 20 30%. Of of all of your funds should be huddled in the to get to your time frame question. When we tell folks to do that, it is like a minimum of a year, a minimum of year, you should not even look at it for a year. And then after the end, a you know, after that year expires, then perhaps do something else with it if you don’t like the way the market is going, or perhaps keep it in there another two or three years and that sort of thing. So it’s

Unknown Speaker 14:42
we really, really want to to be safe. We are super risk adverse. So pretty much everything that that we do and everything that we teach is geared toward that while at the same time

Unknown Speaker 15:00
You’re setting yourself up to do very, very well, in sideways markets and in up markets essentially. Well, I appreciate that I think anytime we are doing something new, that’s that can be scary or nervous setting the parameters of I’m going to hold this for at least, whatever the time frame is, so that when I do get cold feet, or should I get cold feet that I say, okay, you know, what, I made an agreement with myself, that I was going to hold this for at least this amount of time, and that will help us actually do some of those tricks that we play on ourselves with our brains. So, man, you just hit on a super hot button issue there because it is a

Unknown Speaker 15:41
it is a very emotional, or it potentially can be in a very emotional

Unknown Speaker 15:47
thing to be, you know, watch your stuff go way up, and then come way down, and then way up, and then way down on the way up. And, and that that takes a toll on a lot of people’s psyche.

Unknown Speaker 15:58
So one of the things that we do to ameliorate that or mitigate that effect, is we we say, hey, when you when you put your money in to Havlat, just already consider that it’s gone. You’ve lost it. So if you come from that standpoint,

Unknown Speaker 16:16
knowing that that there, you know, there’s a big bed on the table. And,

Unknown Speaker 16:22
you know, you get the it’s okay to walk away, which is again, going back to the donor for you know, don’t invest more than you can afford to lose. Yeah, like, that makes a lot of sense. Well, Daniel, the people are ready for that difference making tip? What do you have for them? Okay. Oh, my gosh. So what I really would say is super, super important, is that people really look and that what are called crypto savings platforms. Because most crypto savings platforms are

Unknown Speaker 16:56
better, or they give better interest rates than a bank. And I’m talking about I’m talking about a lot better, right? So if you put your money in a bank account, and you get it, you’re making what, one quarter of a percent, one and a half, one half percent or whatever, it’s just, it’s ridiculous. And there are lots of there’s lots of crypto savings platforms when they’re not bank. So I want to make sure that we’re clear on that. So they don’t have the same protections, in other words, but there are there are many of them out there that will pay you 234 Or five 6% on on your money, which is pretty doggone good. Especially when you look at the you know, the what is what is a CD at the bank, for example.

Unknown Speaker 17:47
I think that that is great stuff that definitely gets a Come on. There’s another area that I think we’re just kind of scratching the surface on and people aren’t aware of the fact that there is this whole new industry that is popping up lending cryptocurrency and borrowing and the interest rates you could potentially get. So it’s a neat area and

Unknown Speaker 18:05
more reason to, to, to sharpen your toolkit and to get educated. So I love it. Well, Daniel, thank you. So things were I’m sorry. That’s one of the things that we’re trying to that’s, you know, a basically a mission of what we do with with the plan as well as as with the book because we really want to kind of put people in the

Unknown Speaker 18:27
position them to take advantage when the opportunity does present itself.

Unknown Speaker 18:33
Well, Danny, thank you so much for coming on. Where can people learn more about you? How can they engage with you working to get a copy of one coin to coin what coin Bitcoin?

Unknown Speaker 18:42
Well, first, you can get it at wherever books are sold. So you can actually even go to your library and ask for it. And they’ll they’ll probably order it for you.

Unknown Speaker 18:53
But so wherever books are sold and the place that you can check out, because we just I mentioned the plan a little bit. And let me just give you a little thumbnail on what we’re doing there. Essentially, we are using automations to create income cash flow. So if you’re interested in learning how to earn cash flow with your cryptocurrencies in a relatively safe, there’s nothing nothing foolproof, there’s no guarantee. But it’s pretty good. It’s pretty, pretty impressive actually what what those automations are doing, the kind that we teach within the plan and if that’s something of interest to you, you want to head on over to the plan rocks.com The plan rocks.com And make sure I got that right. Yep.

Unknown Speaker 19:46
And there’s information on that page. I think there’s a little video of me and Dan and Elaine talking about you know what we’re doing there and and of course, one coin to coin book is available on Amazon

Unknown Speaker 20:00
Barnes and Noble and your local bookstore, this if they don’t have it, ask for it. They’ll order it. Love it. If you enjoyed as much as I did show Daniel your appreciation and share today’s show with a friend who also appreciates good ideas pick up a copy of one coin to coin one coin Bitcoin wherever you buy your books and then go to the plan rocks.com To learn more about Daniel’s work helping to demystify cryptocurrency. Thanks good, Daniel. Thank you, George. Appreciate it. And until next time, keep fighting the good fight. We’re all in this together.

Transcribed by https://otter.ai

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