Popping the NFT bubble

In this episode of Magic Internet Money, host Brad Mills invites fellow podcaster Jordan Harbinger onto the show to discuss NFTs, second passports, taxation, and money laundering. Both parties agree on the speculation that NFTs are a tulip style bubble, but are here to stay. The duo share their experiences paying taxes in the cryptocurrency space. Jordan explains how tax evasion is nearly pointless with Bitcoin, since the point of the blockchain is accountability. Jordan also offers his experiences in scam busting, and explains how NFTs could be a new gateway for money launderers akin to money laundering in the art collecting business. Finally, the two discuss the possibilities of second passports in the event of government overreaching for crypto assets. Timestamps00:00:34 - Show start/Collectable value00:12:38 - Asset allocation with Bitcoin and related assets00:19:25 - NFT bubble speculation00:26:39 - Current Bitcoin trend, what it would take to change it00:33:03 - How circumstances affect how deep into Bitcoin you should go00:36:18 - “The demise of the stock market” and speculation about the fed00:39:45 - The value of diversifying assets and self investment00:44:40 - How the podcast market shifted during the pandemic00:48:34 - Who’s talking about NFTs?00:58:35 - Jordan’s story about Ethereum01:03:00 - Measuring in Bitcoin terms01:13:05 - Taxation and Bitcoin01:18:55 - Speculation about “government overreach”01:24:08 - Closing remarks and social linksLinks to Mentions in the ShowWhat is an NFT?ICOs and why they’re importantClubhouseCassius MarshArt sales money launderingDogecoinJohn McAfeeFind Jordan HarbingerJordan Harbinger.comJordan Harbinger TwitterFind Brad MillsBrad Mills TwitterMagic Internet Money TwitterMagic Internet Money FacebookMagic Internet Money Instagram