071: Bitcoin, Cryptocurrency, and Curiosity with Joel Comm

On this episode of Build Your Network, Host Travis Chappell interviews Joel Comm, New York Times Best Selling Author, professional keynote speaker, social media marketing strategist, live video expert, technologist, brand influencer and futurist.

Here’s what Travis and Joel discuss in this episode:

  • About Joel Comm:
    • Over two decades harnessing the power of the web.
    • Co-host of the Bad Crypto Podcast.
    • Started going down the “Bitcoin Rabbithole” in spring of 2016.
    • He’s now asked to speak around the world about blockchain and cryptocurrency.
    • Curiosity has made his career.
      • There doesn’t have to be a delineation between work-life and play.
    • What is Bitcoin?
      • A decentralized digital currency.
      • Not owned by any bank or entity.
      • Bitcoin represents rugged independence from the system.
      • It’s backed by computer processing power.
      • There are only 21 million Bitcoin in existance.
      • Bitcoin is digital gold, the new store of wealth based on blockchain technology.
    • What is blockchain technology?
      • The technology that makes Bitcoin useful and valuable.
      • A distributed, decentralized ledger.
      • It’s a way of placing all transactions into a ledger that’s anonymous, but public.
      • Backed by computers that are on the network that confirm these transactions.
      • A new way of tracking everything we do, not just payments, but any kind of contract.
    • Is Ethereum a better long-term hold than Bitcoin?
      • Joel is not a financial advisor and doesn’t give advice on this.
      • Cryptocurrency is very risky.
      • Ethereum is the number two blockchain platform.
      • Ethereum has a lot more applications to actually solve problems.
      • Bitcoin has a market cap currently.
    • BitConnect just went under, it used a multi-level marketing strategy.
      • A lot of people lost a lot of money with this.
      • Wanting to make a lot of money is the wrong reason to invest in cryptocurrency.
    • What are some qualifying factors you look at before buying cryptocurrency?
      • What’s the tech?
      • What’s the timeline?
      • Who’s on your team?
      • How does the token operate?
      • When you invest in it, how many tokens do you get?
      • Who’s your competition? How are you doing this better or different?
      • It doesn’t hurt to look at the supply and know if the demand is going to be strong enough.
    • What does Shipchain do?
      • Have you ever purchased a game that has in-app currency?
        • The way the tokens are based in Shipchain, all the transactions are paid for with the tokens rather than in dollars, or euros, or pounds, etc.
      • You can’t use Shipchain with Bitcoin, you have to use Ship tokens.
    • What are some other coins that you’ve looked at that will solve a big problem.
      • Horizon State and the decision token.
        • The problem is integrity in voting.
        • They intent to blockchain voting, this solves the problem of voting fraud completely.
      • Those who don’t pay attention to cryptocurrency will become the Blockbuster’s and Sears of the world.
    • Joel believes that cryptocurrency is going to happen and be successful, it’s just a matter of when.
      • He would bet everything he has that blockchain is going to transform business and government.
      • Research blockchain technology by itself.
    • Do you believe that what you know or who you know is more important, and why?
      • Yes, it’s a combination.
      • If you’re an expert at what you do, then who you know becomes important.
      • If you don’t know your stuff, then you’re not going to bring value to people.
    • If you were back at the beginning of your career and you were going to take 2018 to double down on networking or gaining knowledge, which would you do?
      • If I’m learning something new, then I’d better learn something as I’m networking.
      • While I’m learning, I would show up at events with people I want to learn from.
    • Tell us a story about a time in your life that you accomplished a goal because of a connection.
      • It’s happened again and again, usually it happens because he wants to accomplish something, and he opens himself up to opportunity.
      • He shows up with the mindset of bringing value to others.
      • Made a connection with someone that ended up with them producing an internet reality show.
        • It was a combination of the apprentice and YouTube.
      • Why do so many people fail to network?
        • People are scared, they’re told they need to work, work, work.
          • There’s a time for that, but the nonsense of “hustle and grind” needs to die.
          • You might end up making a lot of money, but you’re going to shorten your life.
          • If he reverse engineered all of his success, the times he was willing to take risks or made the right phone call or took the right leap of faith were the most successful, not the times when he was working overly hard.
        • If you had to boil it down to one quick tip about networking, what would it be?
          • Give first. People make the mistake of “what can I get” and that’s the wrong mindset.
          • So many times people start the conversation with “what can I sell you?” and that repels people.
          • If you go up to somebody and you ask them what they need, once they tell you then you go from there.
        • Why do you think people come up and sell or pitch themselves?
          • People are trying too hard or coming from a scarcity mindset.
          • It’s okay is someone doesn’t want to work with you, other people will want to work with you and devote their time.
          • There’s no shortage of people and need out there.
        • You can’t plan your successes, they’re a result of curiosity and taking risks.
          • If you want to be successful, you have to be willing to take risks.
          • People have short-term vision, they’re not looking at long-term results.
        • What are you waiting for?
          • You don’t know how long you have, take the chance, go try.
          • Go live your dream and do what you want to do, because you don’t get another chance.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?
    • Rockstar with a dream voice.
  • If you could sit on a park bench for any hour with anyone past or present, who would it be?
    • Weird Al Yankovic
  • How do you like to learn best, books, blogs, podcasts or video?
    • Podcasts
  • One of your favorite podcasts?
    • The Instance
    • Overwatchers
    • The Bad Christian Podcast
    • Mike Rowe Podcast
  • Give us a glimpse of your morning routine:
    • Wake up when he’s ready – he’s a night owl.
    • If it’s nice out, go take a walk.
    • If there’s something urgent he’ll go into the office.
    • He flows.
  • What is your go-to pump up song:
    • Something pop like Train, Tom Petty or Mumford and Sons.
    • Follow him on Spotify for his fun music playlist.
  • What are you not very good at?
    • Most things.
  • Find him on Facebook @JoelComm everywhere on social.

Tweetable Quotes:

  • “Crypto empowers people.”
  • “If you want to be successful, you have to be willing to take risks.”

Resources Mentioned:

Buildyournetwork.com – Podcast website

BYN.media/fb – Facebook Group

Castbox

The Bad Crypto Podcast – Joel’s Podcast

The Fun Formula – Joel’s upcoming book

Bitcoin

Ethereum

Shipchain

Horizon State

The Instance Podcast

Overwatchers Podcast

The Bad Christian Podcast

The Way I Heard It – Mike Rowe Podcast

 

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