256: BTCGandalf Talks FTX, Crypto Storage & Why Bitcoin is King

In the wake of the FTX collapse, we invite BTCGandalf to the show. He is a mysterious supporter of Bitcoin under the guise of Lord of the Rings’ Gandalf. Gandalf talks about what happened to FTX, how healthy other exchanges may be, and the most secure way to store your coins. Derek reveals to Sam a major change in his crypto investment and seeks advice on what to do next in this wild market. In his previous life, Gandalf was a real estate broker and entrepreneur for a decade. He created his pseudonymous Twitter in early 2021 as he began to get interested in Bitcoin and now dedicates his full time-attention to Bitcoin both independently and through his work with Companies in the space. Listen to ILAB 256 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Moldova / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: ShopifyGet 14 days free and access Shopify’s full suite of features to get selling online today! Just go to Shopify.com/ilab to get started. Discussed: Twitter: @BTCGandalf Bitcoin, Not Blockchain - Unchained Capital Bitcoin Fundamentals: A Podcast on Bitcoin Don't Buy Bitcoin! | Andreas M. Antonopoulos & Simon Dixon | Bitcoin HARDTalk #5 only the strong survive | stuff by allen 21 Lessons FTX Super Bowl Don't miss out with Larry David  Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)*Johnny and Sam use all of the above services personally. Time Stamp: 10:30 – How did you come up with the persona of Gandalf? 13:50 – Should we be concerned about other crypto sites? 15:26 – Did you have any direct experience with FTX? 18:30 – What happened to anyone who was holding funds with FTX? 23:15 – How can you protect your money in crypto? 28:10 – What's the process for selling your crypto? 30:24 – Is Bitcoin your go to crypto currency? 33:09 – Do you think the drop in Bitcoin is connected to the FTX collapse? 36:47 – Any thoughts on the economies that embrace bitcoin as a currency? 38:51 – Do you see any restrictions being put on crypto currency? 41:30 – What happens when bitcoin “halves”? 44:45 – Patreon: Any action people can take who have investments in Celsius? 45:18 – Patreon: Is crypto a speculation or money remittance instrument? 46:53 – Are there any good indicators that tell you a coin will go up in value? If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!  Copyright 2022. All rights reserved. Read our disclaimer here.