023. Cryptoassets and the Age of Anomaly w/Andrei Polgar

Why is caring about economics important? Because whether we like it or not, we’re making economic choices every day. We may be choosing what to buy or how much to save. Consciously or unconsciously we choose what to spend our money on and how much of it to spend, whether we save some or go into debt, whether we invest in stocks or put all of our money in cash under a mattress. All of these choices are choices – and Andrei’s primary goal for us as consumers is that if we’re going to be making these choices, we might be better off, making educated ones.

When it comes to investing in cryptos, Andrei has some really sage advice around how and where he invests and why he thinks Bitcoin is a smart asset. We also talk about ICOs and pump and dump schemes and what he has to watch out for when it comes to his YouTube videos around these kinds of cryptos.

And although the focus of our interview was on financial planning, investing and economic preparedness, Andrei talks about his quick success as an entrepreneur until he hit his rock bottom. He shares what it was that helped him get back on his feet and what he thinks it takes to find success ultimately.

Andrei hails from Romania, so from his perspective, where there weren’t a lot of opportunities for him in the offline world.

He shared a great story about imagining we were from a country like Syria and that with our hard-earned family wealth, we owned a house and a car, but needed to flee the country. We wouldn’t be able to take our house, and probably wouldn’t be able to get the car out either, but we would be able to cross borders with zero issues with Bitcoin. All we would need to do is remember a few simple words in order to carry it with us.

Andrei’s excels in financial education. We discuss his book “The Age of Anomaly: Spotting Financial Storms in a Sea of Uncertainty”  and his incredibly clever short animated videos on his YouTube Channel “One Minute Economics” and he shares the reason why he wrote his book with a great analogy. Imagine you’re in a car speeding down a road headed toward a brick wall. Why is there a brick wall at the end of this road you ask? I have no idea. But back to the car, if we put the brakes on too soon, we’ll be OK. We may be far from the wall, but our spleen will still be in place. If we hit the brakes too late… well, we get spleen soup all over the sidewalk. Andrei wants to save a lot of spleens. He just wants us to think about the decisions we’re making and educate ourselves and he’s figured out a way to make important concepts digestible and easy to understand.

Andrei’s book is on sale for only 99 cents USD on Amazon.com this week! Plus he’s giving away a whole Bitcoin and some other amazing prizes. Check out this page for more info: http://oneminuteeconomics.com/