New Tech: Gloves for Messy Eaters, Charging Benches and More
Plus, how to start investing in bitcoin
Ric Edelman: It's Tuesday, July 23rd. On today's show, some really cool inventions I'll bet you would want to use. I've talked with you a lot about some really cool inventions coming over the next several years and into the next decade. It's pretty obvious that the future is going to be really cool. But you know what the future is really already here. We'd like to think of ourselves here in the US as being the technological leaders of the world. But the fact is a lot of other countries are doing some cool things that I only wish we had here. Let me give you just a few of these.
In South Korea, they sell gloves that only cover your fingertips. These are perfect for when you're eating messy food, like hot wings. You know here, when you're on the beach, there's a shower that sprinkles water so you can wash the sand off of you when you leave? Well, in Aruba, they have a machine that sprays sunscreen on you. You step in, and it rotates around you, so you don't miss any spots, and you don't have to get your hands full of lotion.
In Croatia, they have park benches that charge your phone. And in an elevator, have you ever noticed that the emergency call button is pretty low? Well, in the UK, that button's in the floor. Really? That's where it belongs. Tokyo has a shower that blows air on you to blow the pollen off your clothes. And don't you hate it when you're walking on the sidewalk and the person in front of you was walking really slow because they're staring at their phone. In Poland, they have a section of the sidewalk specifically for these people, so they don't get in your way.
Have you ever had somebody dent your car door by hitting your car with their car door? You know, they park their car next to you, and when they open their door, they bang into you. Well, in France, the parking spaces and parking garages are separated by dividers that prevent one car's doors from hitting another. How come we didn't think of that? And grocery stores in Italy have carts that are exclusively for your dog, so you can bring them with you into the store. And German shopping carts have a special place for beer. Well, of course they do. They also have machines that clean the cart when you're done with it, so everybody always gets a clean shopping cart. Now that's something we really need.
Have you ever run through a red light because you had trouble noticing it was red? We've got this big pole, but with a tiny red light on it. In Moscow, the entire pole lights up red. There's no way you can miss it. Yeah, the future's gonna be cool, and it'll be here even faster if we start using each other's great ideas.
Coming up next on the show, a question that I got from one of our listeners.
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Ric Edelman: Welcome back. The Truth About Your Future continues. I got an email from Alter of New Jersey. Here's what he wrote:
“I would appreciate your insights on bitcoin investments. Your enthusiasm for bitcoin, as evidenced in your podcast, intrigued me. Could you advise on the minimum investment amount for bitcoin? Furthermore, I am curious about the investment process. What are the potential returns, and is there a possibility for dividends, and how one can liquidate the investment when needed?”
Alter, you're asking all the right questions about bitcoin and your questions demonstrate that you are really brand new to this. So what I would suggest is that you take a step back, gain a little more knowledge and education before you proceed so you can make more of an informed decision. Then it appears at the moment you are attempting to do. I'd begin quite frankly, selfishly by saying, read my number one, Amazon bestseller, The Truth About Crypto. It'll give you the foundational basis you need as you begin your journey down the crypto rabbit hole.
To more directly answer your questions, there are a couple of fundamental ways you can buy bitcoin. You can open an account at a crypto exchange such as Coinbase, and buy your bitcoin there. Or you can simply buy a bitcoin ETF, that are offered by nine different ETF providers, Bitwise, Blackrock, Franklin Templeton, Invesco, Fidelity, several others. So, I would go about it in that way. You buy these ETFs in the same way that you buy any other ETF, through your brokerage account, familiar, simple, easy being ETFs. They're very low cost, a lot cheaper than if you open an account at Coinbase, a lot more convenient as well, a lot more familiar to you. On top of that, very tax efficient.
Bitcoin does not pay any income. It doesn't generate dividends. This is a growth-oriented investment idea. You are buying bitcoin because you believe it's going to rise in value. That's it. And if you don't have confidence that it's going to rise in value, then you shouldn't buy it.
How can you liquidate? Well, just like any other asset, you could sell whenever you want subject to current market prices. There's not going to be a huge amount of difference, whether you buy bitcoin at Coinbase or buy a bitcoin ETF in terms of your liquidity. The price you get is going to be dependent entirely on the price of bitcoin at the moment.
I will say this, if you open an account at Coinbase, that is available to you 24/7/365. So you could buy or sell anytime you want. If you go the bitcoin ETF route, you can only buy and sell during market hours. 9:30am-4:00pm, Monday through Friday, except holidays. So you have little better liquidity at Coinbase than you do via an ETF. That's about the only practical distinction I would think you need to be paying attention to.
Is there a minimum amount? No, not really. For practical purposes, you could do this with $5 or $10. So I don't think account minimums are an issue for you, but I do believe that you should get more education before you implement so that you have a better understanding of what it is you're doing and why you're doing it with a better idea of also the best way to go about it for your particular circumstance. Start with my book, The Truth About Crypto.
You can send me your question as well, just send it to AskRic@TheTruthAYF.com. The link is in the show notes.
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Ric Edelman: On tomorrow's show, Chinese drones.
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Ric Edelman: Well, finally, the SEC signed off on the paperwork and hallelujah, the Ethereum ETFs have started trading. Now more than ever, you really need to understand this asset class. I've given you plenty of advance notice to get the education you need. But it's not too late. That's the good news. Ethereum ETFs are just the tip of the iceberg. Bitcoin, Ethereum, NFTs, tokenization, the metaverse, DeFi, DePin, Decomp. Do you know what any of that stuff is? Crypto regulation? How about crypto taxation? All this is why you need to enroll in my CBDA course, become Certified in Blockchain and Digital Assets. It's the oldest and largest crypto education program in the world. The program's got a world class faculty and all the courses are online. So you can study at your own pace and then you get to display your CBDA designation. It's on FINRA's list of professional designations. And to celebrate the launch of the new Ethereum ETS, which have 25% as much money in them as bitcoin, you can enroll in the course right now and save, you guessed it, 25%. The links in the show notes. Use discount code ETH25. But hurry, this offer lasts for just two weeks. So hit that link today.
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Ric Edelman: Hey, it’s been a long time coming and today, spot Ethereum ETFs have finally started trading! You’ve heard me talk about Ethereum on the show but you might be asking yourself “what is Ethereum and why should I care?”. Well, tomorrow at 2:00pm ET, I encourage you to join me for an urgent webinar with Bitwise CIO Matt Hougan as we’ll explain why this is such a big deal. We’ll focus on the differences between Ethereum and bitcoin, whether you should own one or both, how to choose among the eight new Ethereum ETFs, the tax implications and more. You’ll be able to ask questions during the live event, too! Don’t miss this opportunity to expand your crypto knowledge. Register now at DACFP.com and earn 1 CE credit. The link is in the show notes.
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Ric Edelman: I’m glad you’re with me here on The Truth About Your Future. If you like what you're hearing, be sure to follow and subscribe to the show, wherever you get your podcasts, Apple, Spotify, YouTube – and remember leave a review on Apple podcasts. I read them all! Never miss an episode of The Truth About Your Future. Follow and subscribe on your favorite podcast app.
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Links from today’s show:
The New Ethereum ETFs: Answers to the Big Questions (7/24 Bitwise Webinar – Register Now!): https://dacfp.com/webinar-the-new-ethereum-etfs-answers-to-the-big-questions/
Become Certified in Blockchain and Digital Assets: https://dacfp.com/certification/
The Truth About Crypto: https://www.amazon.com/Truth-About-Crypto-Easy-Understand/dp/1668002329
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Brought to you by:
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