November 16, 2021 • 12 mins
Our very own Money Moves Correspondent, Mara Hall, was on the streets of Greenwood inquiring the people about Cryptocurrency on the value of this new digital space.
Mara Hall sits in with Tanya to break down some much-needed information on all things crypto.
Host IG: @itstanyatime
Corresponded: @mara_hall
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey Money Movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the Kingdom
of financial stability, wealth and abundance. Hey money Movers, welcome back.
(00:20):
So we're going to continue our deep dive into understanding
how we can build financial literacy and abundance and wealth
through cryptocurrency and to find out what it is that
people truly need to know and how to just sell
any misconceptions. In Miss, we have our lovely Miss Marra
Hall that went to the streets of Tulsa, Oklahoma to
ask you all your pressing and burning questions and get
(00:41):
down to the truth. Hi Mara, and welcome back. Hi
day you. Thank you for having me. It's great to
have you here, so good to be back. But I
found out as a people, thinking about what we're leaving
behind for generations beyond what we see is a pretty
new thing for us when we're still trying to get
our feet wet. Bringing in technology and crypto and all
(01:01):
that takes it to another level of foreign but at
the most basic level, being able to even pass down
these new financial methods are to our children, will help
us better prepare them for the future. So our financial
legacy isn't just about money, it's about knowledge, and it's
looking like we need a little bit of help. We'll here,
let's see what they're saying. That's right, Hi maraw Hall
(01:30):
here with the Money Moves Podcast live from Greenwood. We're
here on the streets of Greenwood and we want to
see what the people have to say. Let's see how
their money is moving for them. Yes. So, cryptocurrency it's
a currency that's based on a blockchain, which is a
public ledger that has appeared to peer infrastructure that makes
it work. I have very limited knowledge about what cryptocurrency is. UM.
(01:54):
But what I do know, or at least what I
believe I know about cryptocurrency is it's essentially a currency
that exists in a decentralized system, so it's difficult to
regulate in the other ways that traditional currencies are UM.
And it's also I think traded and bought through a
(02:16):
cryptography methodology or something of that nature of cryptocurrency. I
don't know what cryptocurrency is. I have no knowledge of cryptocurrency.
When you when I hear that, I'm thinking of cryptocurrency
maybe something like a bitcoin maybe, and uh, I believe
those are transferable cryptocurrency is a different form of currency
(02:40):
that you can purchase and use for investments and uh
other forms of financial gain. World to my understanding, cryptocurrency,
if it's anything like big coins is is all on paper.
(03:03):
As far as my understanding, Blockchains are various machines that
are owned by people their personal devices that verify various
transactions that happen put them onto a public ledger. That
basically makes a bank per se um sort of moot
because instead of having an institution that verifies every transaction,
(03:25):
people can do it with their devices. Cryptocurrency can be
used similar to credit cards many on paying for you
have it in pocket, you're out of I have heard
of it, but I don't know I'd never listened to
it for details. Cryptocurrency can be used as a form
(03:47):
of saving or invested in different businesses as far as
just somewhere to put your money other than in a thing.
It's just like me, like if I scrolled on the
Internet or something, I've seen someone talking about cripto currency,
but I didn't really listen to the pools you can
invest on various apps such as coin based robin Hood
cash app just different places that allow you to funnel
(04:08):
your funds into the cryptocurrency market. Cryptocurrency can be used,
I imagine as a way to um a mass wealth,
and Elon Musk with Bitcoin seems to be doing a
very good job with that. I think one of the ways,
and I could be wrong, but one of the ways
in which it's convenient or beneficial to amassing wealth rather
(04:28):
quickly is that it is decentralized. And from my understanding,
a decentralized method of trading means that it's not as
regulated or at least regimented is other forms of currency.
Cryptocurrency is a way UM. It's it's like money, but
(04:48):
it's not really money is in the digital sense, UM,
and it's a little bit more secure than actual money.
At the leading of my brother, UM, he told me, uh,
which cryptocurrency I should do, and he suggested doge coin.
That's the Elon Musk cryptocurrency. And so UM, I just
invested some money. UM, I have a pretty healthy savings account,
(05:11):
so I had a little bit money. If if I
lost it, I was okay with losing it. So I
invested that money in the cryptocurrency and an AMC stock
UM and through the robin Hood app, that I use
UM just for signing up that give you free money
to invest already, So I invested that in some other
stuff and a local company in Kentucky where I'm from,
and UM They're ups and downs and that's just kind
of part of the game. But it's been a very
(05:33):
interesting process to learn about. I think anytime a person
invest in cryptocurrency, they can pass it on to an
air So you gotta just gotta have it in a wheel,
or you gotta have some way of letting uh, the
source that you used to buy the cryptocurrency know who
to pass it on to an event that you pass
away or dark. I don't know about blockchain. I don't
know a lot about blockchain, so I don't know. People
don't know what they don't know and kind of are
(05:54):
fearful of what they don't know. So it just takes
learning and someone breaking it down on to the level
that you can understand. Because that's what I had had
had to happen for me because I want to do cryptocurrency,
but I didn't know. It just seems so Amalga's like
and so I just started bit by bit. The robin
Hood app is very helpful. My brother has taught me
a lot in his research, and then I just start
researching on my own. You know, what is it? What
(06:15):
actually is it? Is it physical? Can I see it?
How can I spend it? And things like that nature.
So I think it's education. Education is key when we're investing,
when we're learning about Money Moves. Thank you so much,
Saylah for talking to us today. My name is Mara Hall.
I'm with the Money Moves podcasts and you are live
from Greenwood. Thank you, Okay, Mar, I mean that was
(06:37):
super fascinating, but there's a lot of confusion there. We
saw all different types of people who want to do right,
they want to get involved, but there's a fundamental disconnect
on some of the knowledge and the information they have.
What do you think are some of the most important
things that we need to address from what we saw
on the clip. Well, first of all, people believe that
because cryptocurrency isn't tangible, it can't be passed down, we're inherited.
(07:00):
So what I've found out from Google in the US,
cryptocurrency is considered property, which means it can be passed
down and inherited. And what let's stop there and talk
about this because what we're talking about is building generational wealth.
We are so passionate about that at Banqueenwood, and this
is a huge thing. I think this is going to
be one of the new waves of the future. And
(07:21):
if people are hesitant because they don't have a proper
understanding that this is an asset that can be passed
on generation after generation that will grow in value, we
need to get the word out there so that people
have a firm understanding of how important this is to
build wealth in our community. Absolutely, and cryptocurrency can be
passed down for generation to generation, and it can create
(07:42):
generational wealth. So it's pretty much a wonderful, wonderful, wonderful
process and thing to happen. You know, I don't mean
to make light of this, but I always think about
how people talk about, Hey, you know, my great grandmother
died and you know, we went to her house and
they found out she had, you know, money stuffed under
a mattress. That could absolutely be overlooked. And I think
this is one of the things that blocked and cryptocurrency
will help us avoid. There's no more money in shoeboxes.
(08:04):
It's a digital record that we know can exist forever
and ever and ever. Absolutely. But the one thing that
you have to remember is that if you're going to
pass this on to your kids, your your grandkids, you
have to they have to have access to it. So
you have to let someone know the codes and the
passwords for them to have it, because if you don't,
you will not be able to access it. So that's
the most important thing that I found. Listen, We're going
(08:25):
to talk about the state planning and passing on passwords
and a whole another episode, but you definitely hit on
something that we should absolutely return to share the passwords.
Please tell us where the shoe box is. I know
it makes sure you look under the mattress. Just there. French,
the French, the French. Absolutely, what is wrong with us?
All right? Mara? What are some other points that people
(08:47):
had that you saw well. People were also confused about
whether or not cryptocurrency equates the actual wealth. Basically they
think that once they purchase it, it can be transferred
back to actual currency. What I really found out that
cryptocurrency can definitely be a valuable inheritance. Consider that if
the market continues to rise, it is an inheritance words
more than what was initially given to you, it's the
(09:10):
one that has the potential to self grow. So cryptocurrency
can be sold or exchanged, like converting foreign currency to
US dollars. So yes, it can go back to actual currency. Yeah,
and that's really good that people understand that it's not
locked up in this digital cloud that people don't understand.
You can actually convert it. And here's the thing is
we talked about earlier. It actually has a value in
(09:31):
your in a burger king in other places, many many
more establishments or accepting cryptocurrencies as a form of payment.
So it is payment. Absolutely, it's absolutely payment. It's transferable,
and it's equal, so you can use both either cash
or cryptocurrency. One of our experts that we had on
referred to it as digital gold, which really hit with me. Yeah,
I got it. We get gold in this community. Gold
(09:54):
is king. So another fact that I've found this smart
contracts are just a series of cute programming code to
do exactly what they're written to do. Okay, So it
can't think or consider if something is right or wrong.
It just processes and execute. And because it can't think
or execute, it can't tell if something is illegal or not.
(10:15):
So the only thing making it binding is that the
smart contract does not have the encoding to differentiate between
right and wrong, legal or illegal. Yeah, and so I
feel like what this is it's an absolute absolute. It's
an absolute. There's not you know, family members who are
putting their two cents in, or there's no right or wrong.
It's an absolute. And so it's executed based on that absolute.
(10:36):
And that is the power of computing um and the
blockchain and all these records that are confirmed over and
over and over again, and not a lot of mistakes either.
So that's that's really really amazing. Yeah. No, I love
this alright, Mara, So tell me more. Do we have
some other Yeah? So pretty much, if you enter in
a smart contract that has illegal terms, even if the
deal is carried out, our courts can reverse that decision. Okay,
(10:59):
hold up, because we were talking about absolute. But there
is some sort of human presence that can potentially change
things in here. Okay, Okay, that makes me feel good.
You know, you never know what could go in a contract.
You really don't, mar Thank you for bringing all that
information with you. Hello, Google, You're so good at it. Google.
(11:23):
We all worry about what we'll leave behind when we
go and with the changing world, it's absolutely dizzying. So
you helped us to get both beat planted on the
ground and I feel very good about this. Thank you
so much, Marrow, and we'll see you again soon, no problem.
Thank you for having me. Thank you so much for
tuning in Money Moves audience. If you want more or
a recap of this episode, please go to the Bank
(11:45):
Greenwood dot com and check out the Money Moves podcast blog.
Money Moves is an I Heart radio podcast powered by
Greenwood Executive produced by Sunwise Media, Inc. For more podcast
on I heart Radio, visit the i heart Radio app,
Apple Podcasts, or wherever you get your podcasts from MHM
Hey Money Movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the Kingdom
of financial stability, wealth and abundance. Hey money Movers, welcome back.
(00:20):
So we're going to continue our deep dive into understanding
how we can build financial literacy and abundance and wealth
through cryptocurrency and to find out what it is that
people truly need to know and how to just sell
any misconceptions. In Miss, we have our lovely Miss Marra
Hall that went to the streets of Tulsa, Oklahoma to
ask you all your pressing and burning questions and get
(00:41):
down to the truth. Hi Mara, and welcome back. Hi
day you. Thank you for having me. It's great to
have you here, so good to be back. But I
found out as a people, thinking about what we're leaving
behind for generations beyond what we see is a pretty
new thing for us when we're still trying to get
our feet wet. Bringing in technology and crypto and all
(01:01):
that takes it to another level of foreign but at
the most basic level, being able to even pass down
these new financial methods are to our children, will help
us better prepare them for the future. So our financial
legacy isn't just about money, it's about knowledge, and it's
looking like we need a little bit of help. We'll here,
let's see what they're saying. That's right, Hi maraw Hall
(01:30):
here with the Money Moves Podcast live from Greenwood. We're
here on the streets of Greenwood and we want to
see what the people have to say. Let's see how
their money is moving for them. Yes. So, cryptocurrency it's
a currency that's based on a blockchain, which is a
public ledger that has appeared to peer infrastructure that makes
it work. I have very limited knowledge about what cryptocurrency is. UM.
(01:54):
But what I do know, or at least what I
believe I know about cryptocurrency is it's essentially a currency
that exists in a decentralized system, so it's difficult to
regulate in the other ways that traditional currencies are UM.
And it's also I think traded and bought through a
(02:16):
cryptography methodology or something of that nature of cryptocurrency. I
don't know what cryptocurrency is. I have no knowledge of cryptocurrency.
When you when I hear that, I'm thinking of cryptocurrency
maybe something like a bitcoin maybe, and uh, I believe
those are transferable cryptocurrency is a different form of currency
(02:40):
that you can purchase and use for investments and uh
other forms of financial gain. World to my understanding, cryptocurrency,
if it's anything like big coins is is all on paper.
(03:03):
As far as my understanding, Blockchains are various machines that
are owned by people their personal devices that verify various
transactions that happen put them onto a public ledger. That
basically makes a bank per se um sort of moot
because instead of having an institution that verifies every transaction,
(03:25):
people can do it with their devices. Cryptocurrency can be
used similar to credit cards many on paying for you
have it in pocket, you're out of I have heard
of it, but I don't know I'd never listened to
it for details. Cryptocurrency can be used as a form
(03:47):
of saving or invested in different businesses as far as
just somewhere to put your money other than in a thing.
It's just like me, like if I scrolled on the
Internet or something, I've seen someone talking about cripto currency,
but I didn't really listen to the pools you can
invest on various apps such as coin based robin Hood
cash app just different places that allow you to funnel
(04:08):
your funds into the cryptocurrency market. Cryptocurrency can be used,
I imagine as a way to um a mass wealth,
and Elon Musk with Bitcoin seems to be doing a
very good job with that. I think one of the ways,
and I could be wrong, but one of the ways
in which it's convenient or beneficial to amassing wealth rather
(04:28):
quickly is that it is decentralized. And from my understanding,
a decentralized method of trading means that it's not as
regulated or at least regimented is other forms of currency.
Cryptocurrency is a way UM. It's it's like money, but
(04:48):
it's not really money is in the digital sense, UM,
and it's a little bit more secure than actual money.
At the leading of my brother, UM, he told me, uh,
which cryptocurrency I should do, and he suggested doge coin.
That's the Elon Musk cryptocurrency. And so UM, I just
invested some money. UM, I have a pretty healthy savings account,
(05:11):
so I had a little bit money. If if I
lost it, I was okay with losing it. So I
invested that money in the cryptocurrency and an AMC stock
UM and through the robin Hood app, that I use
UM just for signing up that give you free money
to invest already, So I invested that in some other
stuff and a local company in Kentucky where I'm from,
and UM They're ups and downs and that's just kind
of part of the game. But it's been a very
(05:33):
interesting process to learn about. I think anytime a person
invest in cryptocurrency, they can pass it on to an
air So you gotta just gotta have it in a wheel,
or you gotta have some way of letting uh, the
source that you used to buy the cryptocurrency know who
to pass it on to an event that you pass
away or dark. I don't know about blockchain. I don't
know a lot about blockchain, so I don't know. People
don't know what they don't know and kind of are
(05:54):
fearful of what they don't know. So it just takes
learning and someone breaking it down on to the level
that you can understand. Because that's what I had had
had to happen for me because I want to do cryptocurrency,
but I didn't know. It just seems so Amalga's like
and so I just started bit by bit. The robin
Hood app is very helpful. My brother has taught me
a lot in his research, and then I just start
researching on my own. You know, what is it? What
(06:15):
actually is it? Is it physical? Can I see it?
How can I spend it? And things like that nature.
So I think it's education. Education is key when we're investing,
when we're learning about Money Moves. Thank you so much,
Saylah for talking to us today. My name is Mara Hall.
I'm with the Money Moves podcasts and you are live
from Greenwood. Thank you, Okay, Mar, I mean that was
(06:37):
super fascinating, but there's a lot of confusion there. We
saw all different types of people who want to do right,
they want to get involved, but there's a fundamental disconnect
on some of the knowledge and the information they have.
What do you think are some of the most important
things that we need to address from what we saw
on the clip. Well, first of all, people believe that
because cryptocurrency isn't tangible, it can't be passed down, we're inherited.
(07:00):
So what I've found out from Google in the US,
cryptocurrency is considered property, which means it can be passed
down and inherited. And what let's stop there and talk
about this because what we're talking about is building generational wealth.
We are so passionate about that at Banqueenwood, and this
is a huge thing. I think this is going to
be one of the new waves of the future. And
(07:21):
if people are hesitant because they don't have a proper
understanding that this is an asset that can be passed
on generation after generation that will grow in value, we
need to get the word out there so that people
have a firm understanding of how important this is to
build wealth in our community. Absolutely, and cryptocurrency can be
passed down for generation to generation, and it can create
(07:42):
generational wealth. So it's pretty much a wonderful, wonderful, wonderful
process and thing to happen. You know, I don't mean
to make light of this, but I always think about
how people talk about, Hey, you know, my great grandmother
died and you know, we went to her house and
they found out she had, you know, money stuffed under
a mattress. That could absolutely be overlooked. And I think
this is one of the things that blocked and cryptocurrency
will help us avoid. There's no more money in shoeboxes.
(08:04):
It's a digital record that we know can exist forever
and ever and ever. Absolutely. But the one thing that
you have to remember is that if you're going to
pass this on to your kids, your your grandkids, you
have to they have to have access to it. So
you have to let someone know the codes and the
passwords for them to have it, because if you don't,
you will not be able to access it. So that's
the most important thing that I found. Listen, We're going
(08:25):
to talk about the state planning and passing on passwords
and a whole another episode, but you definitely hit on
something that we should absolutely return to share the passwords.
Please tell us where the shoe box is. I know
it makes sure you look under the mattress. Just there. French,
the French, the French. Absolutely, what is wrong with us?
All right? Mara? What are some other points that people
(08:47):
had that you saw well. People were also confused about
whether or not cryptocurrency equates the actual wealth. Basically they
think that once they purchase it, it can be transferred
back to actual currency. What I really found out that
cryptocurrency can definitely be a valuable inheritance. Consider that if
the market continues to rise, it is an inheritance words
more than what was initially given to you, it's the
(09:10):
one that has the potential to self grow. So cryptocurrency
can be sold or exchanged, like converting foreign currency to
US dollars. So yes, it can go back to actual currency. Yeah,
and that's really good that people understand that it's not
locked up in this digital cloud that people don't understand.
You can actually convert it. And here's the thing is
we talked about earlier. It actually has a value in
(09:31):
your in a burger king in other places, many many
more establishments or accepting cryptocurrencies as a form of payment.
So it is payment. Absolutely, it's absolutely payment. It's transferable,
and it's equal, so you can use both either cash
or cryptocurrency. One of our experts that we had on
referred to it as digital gold, which really hit with me. Yeah,
I got it. We get gold in this community. Gold
(09:54):
is king. So another fact that I've found this smart
contracts are just a series of cute programming code to
do exactly what they're written to do. Okay, So it
can't think or consider if something is right or wrong.
It just processes and execute. And because it can't think
or execute, it can't tell if something is illegal or not.
(10:15):
So the only thing making it binding is that the
smart contract does not have the encoding to differentiate between
right and wrong, legal or illegal. Yeah, and so I
feel like what this is it's an absolute absolute. It's
an absolute. There's not you know, family members who are
putting their two cents in, or there's no right or wrong.
It's an absolute. And so it's executed based on that absolute.
(10:36):
And that is the power of computing um and the
blockchain and all these records that are confirmed over and
over and over again, and not a lot of mistakes either.
So that's that's really really amazing. Yeah. No, I love
this alright, Mara, So tell me more. Do we have
some other Yeah? So pretty much, if you enter in
a smart contract that has illegal terms, even if the
deal is carried out, our courts can reverse that decision. Okay,
(10:59):
hold up, because we were talking about absolute. But there
is some sort of human presence that can potentially change
things in here. Okay, Okay, that makes me feel good.
You know, you never know what could go in a contract.
You really don't, mar Thank you for bringing all that
information with you. Hello, Google, You're so good at it. Google.
(11:23):
We all worry about what we'll leave behind when we
go and with the changing world, it's absolutely dizzying. So
you helped us to get both beat planted on the
ground and I feel very good about this. Thank you
so much, Marrow, and we'll see you again soon, no problem.
Thank you for having me. Thank you so much for
tuning in Money Moves audience. If you want more or
a recap of this episode, please go to the Bank
(11:45):
Greenwood dot com and check out the Money Moves podcast blog.
Money Moves is an I Heart radio podcast powered by
Greenwood Executive produced by Sunwise Media, Inc. For more podcast
on I heart Radio, visit the i heart Radio app,
Apple Podcasts, or wherever you get your podcasts from MHM
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