SaaS Interviews with CEOs, Startups, Founders
796: Crypto: Kim Jong-un Crypto Funded Nukes vs. Billions Out of Poverty
28 Sep 2017
Chapter 1: What is the main topic discussed in this episode?
He is well known as really one of the leading, if not the leading, thought leader in Bitcoin and crypto space. Two books published so far, loads of speaking engagement. Again, you know, his thesis, which is an interesting one and a good one, is look, decentralization, it's gonna have its ups, it's gonna have its downs, but for people like his mother trapped in Greece,
Chapter 2: What are the current challenges facing cryptocurrency investments?
It just proves as really the only resource for her to maintain her value instead of losing it all and kind of the banking thing that's going on there right now. So very interesting conversation. This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per talk. Five and six million.
Chapter 3: What is the significance of cryptocurrency for developing nations?
He is hellbent on global domination.
Chapter 4: How does cryptocurrency provide financial security in unstable economies?
We just broke our 100,000 unit sold mark. And I'm your host, Nathan Latka. Many of you listening right now don't have time to listen to every B2B SaaS CEO that I've interviewed.
Chapter 5: What are the implications of cryptocurrency for government control and corruption?
If you want to get access to the database I've created, with year-over-year growth rates, customer accounts, margins, and many, many other data metrics and data points, you can go to getlatka.com. Here's the thing, though. This database, I keep it to myself.
Chapter 6: How does Andreas Antonopoulos view ICOs and their future?
It's so freaking valuable. And to preserve the quality of the data and make sure that the people that have access to it have a true advantage, I'm only letting 10 companies on each month. So we're full this month, but you can go to getlatka.com to get on the waiting list for next month.
Chapter 7: How can individuals earn cryptocurrency instead of buying it?
And look, there's big people on the waiting list. I mean, the biggest VCs you've ever heard of. You've probably heard of them. They're big, private equity, billions and billions under management. So it's an impressive waiting list.
Chapter 8: What are the potential risks associated with cryptocurrency funds?
Go get on now at getlatka.com. This is episode 796. Coming up tomorrow morning, Irv Shapiro with Dialogue Tech joins me and tells me how he did $30 million in 2016 revenue and will hit $40 million this year for a SaaS company. Hello, everyone. My guest today is Andreas Antonopoulos. He is a technologist and serial entrepreneur.
He's become one of the most well-known and well-respected figures in Bitcoin. He's the author of two books, Mastering Bitcoin, published by O'Reilly Media, and considered the best technical guide to Bitcoin and the Internet of Money, which is another term that he coined. And it's also another book about why Bitcoin matters. Andreas, are you ready to take us to the top? Yeah, absolutely.
Okay, good. So listen, we're having a lot of folks on in the crypto world. A few days ago, I had on a gentleman who created Firstblood. They did an ICO back in September 2016 when Ether was around 11 bucks. They sold 465,000 Ether, which came to a value of a little over 5 million bucks in total value.
In order to fund the software development and the salaries of the CEO, et cetera, they immediately liquidated 80% of that. So they have 4 million bucks in their bank account now, right? Their BB&T bank account. If that whole business goes to shit, they have $4 million and everyone else has nothing. Walk me through, do you see issues with that? And if so, how will crypto solve that problem itself?
No, I mean, with the current level of volatility in cryptocurrencies, it makes sense for most businesses to convert their raised funds into fiat temporarily. You know, the thing is, cryptocurrencies are still quite volatile. This is really the early days. So we see a lot of these ICOs will convert, you know, 60, 80% of their funds into fiat, which then drives the price down.
ironically, for those investors who just invested in an ICO.
So one of the things that I hear is that people who believe in crypto are against that kind of liquidation process. They say, well, why would you do that if you believe in crypto? If you stay in crypto, the value should increase over time. So you're cheating the system, basically. How would you respond to that?
I would respond with rational actors implementing market economics and their own incentives is how the system works. And, you know, there's no cheating the system or you should, or, you know, if you want to do that with your money, go ahead, be prepared for losses.
If I was running a business like that, I would certainly diversify my holdings beyond the single cryptocurrency, just as I do as my personal investments. in this space. This is not a matter of ideology. It's a matter of being a rational actor.
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