Help Me Understand Cryptocurrency Investing with Tai Zen

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By Brad Costanzo. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Cryptocurrency and Bitcoin investing is NOT an area I understand well... yet. A few years back I placed about $5k into some coins and watched them go up and then back down.

For the most part I ignored it. But after reconnecting with my friend and highly successful investor, trader & trainer, Tai Zen, he began showing me the macro case for having a portion of your assets in this market.

Especially now as it looks like we're re-entering the bull market. I invited Tai to the show for this epic 2.5 hour class where I pick his brain on the topics I want to know.

ATTENTION: This is a special VIDEO episode and you can watch at https://baconwrappedbusiness.com/taizencrypto

This isn't about how to be a professional trader like Tai is, but more of a primer on his philosophies and wise investment strategies with sound risk management.

Tai's backstory is equally as inspiring as his knowledge of cryptocurrency investing. We devoted a lot of time to it on purpose because it demonstrates what you can do when you take radical personal responsibility for your life.

From being born in a poor Vietnamese fishing village, to picking fruit in America, working in sweatshops as a pre-teen, growing up in a drug-infested ghetto, spending approximately 14 years in federal prison….

To getting out, working his way up from nightclub security to day trading student, educator and finally mastering the art of trading crypto currencies and showing others how to do it as well.

There is no hype here, no BS, no get rich quick.

But if you watch closely you'll get an amazing education in what it takes to succeed.

HIGHLIGHTS (click the timestamp to jump to the topic in the video)

  • 3:46 Tai explains how we originally met and what it meant to him (Brad blushes)
  • 7:45 Tai's tells his inspiring origin story starting in a Vietnamese fishing village to getting hijacked by Thai Pirates and immigration to America working as a migrant worker
  • 12:24 Moving to Houston and getting in trouble for drugs to spending 14 years in federal prison
  • 18:50 Freedom and first jobs
  • 27:20 Brad explains why Tai's story is so inspirational
  • 31:00 When Tai discovered Bitcoin
  • 44:24 A big misconception about Bitcoin's ability to overtake the US Dollar and Fiat
  • 51:00 The market cap case for Crypto
  • 52:26 Why Bitcoin may be better than Gold for a store of wealth
  • 58:20 Bitcoin and Altcoins
  • 59:22 Important: What is the VALUE of bitcoin and cryptocurrency?
  • 01:01:05 Real world use case for blockchain technology
  • 01:07:30 DEFI what is Decentralized Finance, what are the risks, why is it important?
  • 01:16:00 How to PROTECT yourself from the Major Risks in cryptocurrency: Pumps, dumps, front running and manipulation?
  • 01:19:00 THIS IS TAI'S 4 PART FRAMEWORK FOR PROFITING WHILE PROTECTING YOURSELF
  • 01:46:00 Short list of some of the most well capitalized/funded coins which protects their development, Tezos, NEO, Cardano, Filecoin, Ethereum…
  • 01:51:00 The EASY way to dip your toe into crypto. The 2 Taifu Crypto Indexes
  • 01:58:00 Potential tax consequences of rebalancing
  • 01:59:30 Tax Deferred Investing in a Retirement Account
  • 02:05:45 Tai's training resources and courses and what to watch out for from the Youtube influencers who simply make money from ads and affiliate marketing.
  • 02:14:29 How to avoid FOMO and chasing hyped up altcoins
  • 02:15:22 How will you exit your profitable positions and what will happen? “How would you unload $1mm worth of Bitcoins and what will happen if you try?”
  • 02:17:45 The ONE simple strategy to use if you're busy and want to take advantage of 80% of the growth of the crypto market with zero research.
  • 02:25:30 How EARLY are we in the crypto bullmarket???
  • 02:26:07 How the bull and bear cycles work in crypto
  • 02:28:50 REALITY CHECK! If you get a hypothetical 10x return, if you're able to pull out 30%, you're doing fantastic.
  • 02:30:03 Summary and Sharing the Love

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