{"id":14711,"date":"2020-01-14T17:35:21","date_gmt":"2020-01-14T17:35:21","guid":{"rendered":"http:\/\/mediashower.com\/blog\/?p=14711"},"modified":"2020-01-14T17:35:21","modified_gmt":"2020-01-14T17:35:21","slug":"how-to-educate-old-finance-about-blockchain-investment-opportunities","status":"publish","type":"post","link":"https:\/\/www.mediashower.com\/blog\/how-to-educate-old-finance-about-blockchain-investment-opportunities\/","title":{"rendered":"How to Educate “Old Finance” About Blockchain Investment Opportunities"},"content":{"rendered":"

Shortly after I published my book BLOCKCHAIN FOR EVERYONE<\/a>, I received a sales call from a financial advisor. Instead of listening to his pitch, however, I decided to tell about the multitude of investment opportunities in the blockchain space.<\/p>\n

Here’s what happened!<\/p>\n

When Old Finance Calls “New Finance”<\/h2>\n

\u201cHello John. This is Bobby from [FAMOUS FINANCIAL FIRM] Wealth Advisors. Did I catch you at a bad time?\u201d<\/p>\n

I kicked myself for picking up. \u201cBobby, is this a sales call?\u201d<\/p>\n

\u201cI thought you might be interested in hearing how [FAMOUS FINANCIAL FIRM] can help you manage your assets.\u201d<\/p>\n

When I\u2019m tricked into answering a sales call, I have a little trick of my own: I flip the script and try to sell them<\/em> something.<\/p>\n

\u201cListen, Bobby. I just released a new book, BLOCKCHAIN FOR EVERYONE<\/a>. It\u2019s already an Audible bestseller. How much do you advise your clients on blockchain investing?\u201d<\/p>\n

Long pause. \u201cWhat is blockchain investing?\u201d<\/p>\n

\u201cBlockchain investing,\u201d I repeated. \u201cBitcoin, altcoins, cryptocurrencies. A new asset class. They\u2019re blowing away the stock market.\u201d<\/p>\n

He snorted. \u201cThat\u2019s all speculation.\u201d<\/p>\n

\u201cToday you call it speculating, tomorrow you\u2019ll call it investing. How much have you grown your clients\u2019 wealth portfolios over the last four years?\u201d<\/p>\n

\u201cMy clients are doing just fine.\u201d\u00a0<\/p>\n


\n\"Stock
\n<\/center><\/p>\n

I had my numbers ready to go. \u201cLet\u2019s say your clients invested $10,000 in a plain vanilla portfolio of stocks and bonds in 2015. Today you\u2019d have about $12,000. That\u2019s an increase of how much? I\u2019m bad at math.\u201d<\/p>\n

\u201c$2,000,\u201d he responded stiffly. \u201cTwenty percent.\u201d\u00a0<\/p>\n


\n\"Stocks,
\n<\/center><\/p>\n

\u201cNow if you had put just a tiny slice of that into bitcoin — just 2.5% — your clients would have doubled<\/em> those returns. $10,000 would now be worth $24,000. In four years!\u201d<\/p>\n

\u201cRight, and bitcoin has cut its value in half since 2017. I\u2019m not signing my clients up for that kind of roller coaster.\u201d<\/p>\n

\u201cThat why you hedge risk by only buying a small amount. Isn\u2019t it even riskier to leave all this money on the table?\u201d<\/p>\n

\u201cNo,\u201d he shot back.<\/p>\n

\u201cNow, let\u2019s say you had put 10 percent of your $10,000 into the top 10 altcoins \u2013 the top 10 cryptocurrencies \u2013 four years ago,\u201d I continued, undeterred. \u201cJust $1,000 invested in bitcoin, Ethereum, Ripple, and so on. The rest in stocks and bonds. Do you know how much you\u2019d have?\u201d<\/p>\n

\u201cLook, I don\u2019t have all day\u2014\u201d<\/p>\n

\u201c$200,000!\u201d I shouted jubilantly. \u201cYour clients\u2019 $10,000 would have grown into TWO HUNDRED THOUSAND DOLLARS.\u201d\u00a0<\/p>\n


\n\"Stocks,
\n<\/center><\/p>\n

\u201cLook, you can mint your funny money all you want,\u201d he cut me off. \u201cYour \u2013 what are they called? \u2013 your tokens. Your coins. Real money is printed by sovereign governments.\u201d<\/p>\n

\u201cNot true,\u201d I replied. \u201cWe can use anything as money, as long as we all trust and agree on it. All covered in my book.\u201d<\/p>\n

\u201cThis is nothing new. I heard about this bitcoin stuff back in 2014\u2026\u201d<\/p>\n

\u201cDid you buy any?\u201d<\/p>\n

\u201cWhat? No!\u201d Preposterous.<\/p>\n

\u201cWhy not?\u201d<\/p>\n

\u201cI buy real things, like gold. My clients who bought gold ten years ago bought it at $1,000. The price of gold is now over $1,500.\u201d<\/p>\n

\u201cSome people call bitcoin digital gold,\u201d I went on. \u201cSame qualities, but much better returns. All covered in my book.\u201d<\/p>\n

\u201cLook, I\u2019m not going to buy into this [EXPLETIVE].\u201d I couldn\u2019t believe the wealth manager from the famous financial firm was now swearing at me. \u201cIt\u2019s a fad.\u201d<\/p>\n

\u201cA ten-year fad?\u201d I asked.<\/p>\n

\u201cIt\u2019s a bubble, like Pokemons or tulips. Maybe you\u2019re right. Maybe I should know more about this stuff, but I\u2019m too busy making money for my clients.\u201d<\/p>\n

This was the opening I needed. \u201cYou\u2019re right that you need to know more about this stuff. To make money for your clients, you\u2019ve got to be at the top of your game. And that requires learning. You\u2019ve got to be a lifelong learner.\u201d<\/p>\n

\u201cWell, time is money,\u201d he said, trying to wrap up the call. Now he\u00a0<\/em>was the one who wanted to hang up.<\/p>\n

\u201cI am willing to come to [FAMOUS FINANCIAL FIRM] and give your team a training session on blockchain investing,\u201d I offered. \u201cNo charge. I want to help you learn.\u201d
\n


\n\"Blockchain
\n<\/center><\/p>\n

\u201cMaybe I\u2019ll get the book,\u201d he countered. \u201cWhat\u2019s it called again?\u201d<\/p>\n

\u201cBLOCKCHAIN FOR EVERYONE<\/a>. Now, listen Bobby. Learning is literally your job. Your clients are paying you to learn, so you can help them separate the good investments from the bad.\u201d<\/p>\n

\u201cThat\u2019s why I got my clients into silver,\u201d he began. \u201cOver the last four years\u2026\u201d<\/p>\n

\u201c\u2026the price of silver barely moved,\u201d I continued. \u201cThat\u2019s because it\u2019s a METAL. You dig it out of the GROUND, with a SHOVEL. Did you also advise your clients to invest in FOSSILS?!\u201d<\/p>\n

This was too much for him. \u201cI don\u2019t need any of your [EXPLETIVE] bitcoin, your cryptos, to make money. You know, maybe I should have bought some. Maybe I don\u2019t know what I\u2019m talking about. But maybe this is all going to come crashing down.\u201d<\/p>\n

\u201cAnd maybe the stock market will come crashing down,\u201d I responded coolly. \u201cIt will happen eventually. And then your clients will be looking for alternative investments. Don\u2019t you think you should learn something about blockchain investing?\u201d<\/p>\n

\u201cWell, time is money,\u201d he repeated. \u201cI\u2019ve got more phone calls to make today, so\u2026\u201d<\/p>\n

\u201cWhat do you say, Bobby?\u201d I asked him, looking him up on LinkedIn. \u201cYou\u2019re an SVP at [FAMOUS FINANCIAL FIRM]. Can I offer you a free training session for your team?\u201d<\/p>\n

\u201cWe\u2019ll think about it,\u201d he responded. \u201cBut really, I have to go. Thanks for the spirited debate.\u201d<\/p>\n

\u201cIt wasn\u2019t really a debate,\u201d I told him. \u201cI was just explaining facts.\u201d<\/p>\n


\n\"Facts.\"
\n<\/center><\/p>\n

Old Finance Needs Blockchain Education<\/h2>\n

Our conversation was a perfect snapshot of my experience with the financial services industry. We\u2019re paying these guys (mostly guys) to advise us on new investing opportunities, and they\u2019re unwilling to learn about new investing opportunities<\/em>.<\/p>\n

To teach more financial services professionals about blockchain investing, Bitcoin Market Journal ran a free giveaway of my book to BMJ newsletter subscribers who work in the financial industry. Two financiers actually took us up on the offer!<\/p>\n

Let’s hope more will follow in their footsteps and learn about investment opportunities in the blockchain industry.<\/p>\n

Sign up here to get more bitcoin intelligence and insight in our free weekly newsletter.<\/em><\/a>\u00a0<\/em><\/p>\n

<\/p>\n

<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Shortly after I published my book BLOCKCHAIN FOR EVERYONE, I received a sales call from a financial advisor. Instead of listening to his pitch, however, I decided to tell about the multitude of investment opportunities in the blockchain space. Here’s what happened! When Old Finance Calls “New Finance” \u201cHello John. This is Bobby from [FAMOUS… Read More…<\/a><\/span><\/p>\n","protected":false},"author":109,"featured_media":14712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[459],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/posts\/14711"}],"collection":[{"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/users\/109"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/comments?post=14711"}],"version-history":[{"count":7,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/posts\/14711\/revisions"}],"predecessor-version":[{"id":14719,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/posts\/14711\/revisions\/14719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/media\/14712"}],"wp:attachment":[{"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/media?parent=14711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/categories?post=14711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mediashower.com\/blog\/wp-json\/wp\/v2\/tags?post=14711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}