0:00

Imagine paying only 4%

0:02

taxes to the government for your business

0:04

income. And now imagine paying

0:07

zero capital gains taxes

0:09

for all of your crypto gains.

0:11

Well, I don't imagine it. I

0:13

live it legally. Sir

0:15

Laura Travis is super busy today. So you've

0:17

got me and my guest, Devin Michaels,

0:20

here to discuss how the tax situation

0:22

that I mentioned is real life

0:24

and how you can surround yourself

0:27

with high performers that may help

0:29

set you up for a very profitable

0:31

future by joining us on the high

0:33

seas. Ya sound exciting.

0:36

Ahoy, matey. Come along with us on this ride

0:38

for episode number 693.

0:43

Of the Bad crypto podcast.

0:44

Five. Four, three,

0:48

two, one, zero.

0:51

Listen, who's

0:53

bad? I.

1:13

Welcome to the crypto podcast, Sir Joel.

1:16

I'm here with you. Travis is

1:18

getting ready to do some globetrotting

1:21

and he's got a lot of stuff to do.

1:23

He's very busy right now and so

1:25

I'm rolling solo today, but not

1:27

truly because I've got a guest

1:29

with me. He's an old friend, and

1:32

we're just going to jump right into the interview

1:34

because there's two things that I want

1:36

you to walk away with as you listen.

1:38

Number one, how to

1:40

pay less taxes

1:42

legally and not just crypto taxes,

1:44

but any type of gains taxes

1:47

on your stock portfolio,

1:49

taxes on your precious metals

1:52

gains, crypto and more.

1:54

And I want to invite you

1:56

to come along with us on

1:58

a vacation on the high seas.

2:01

You're going to love this. Let's listen in.

2:07

As you know, sir, Lord Travis and myself

2:09

have been living in Puerto Rico

2:11

now for over two years.

2:14

It's it's been really interesting,

2:16

meeting ton of incredible

2:18

people. But one of the gentlemen

2:21

who is responsible for

2:23

me being here is an

2:25

old friend. His name is Devin Michaels.

2:28

Devin's an entrepreneur. He's

2:30

a crypto guy. And

2:32

he was on episode number

2:34

382 of

2:36

this podcast a little more than

2:39

three years ago. But you might not

2:41

know it because he was on the same show

2:43

as Dr. Ron Paul. Doctor

2:46

Paul, of course, was the headliner. And then

2:48

there was like, Oh, also Devin

2:50

and I wanted to give him the spotlight

2:52

today because we've got a lot of really interesting

2:54

things to talk about. Devin Michaels Welcome

2:56

back to the Republic of Bad Cryptopia

2:59

sir.

3:00

Mr. Joel, my dear friend

3:02

of almost 15 years. It's great to be

3:04

here with you, Mika.

3:06

I think it might be longer than that.

3:08

I think it might be too.

3:08

If we had met around 2007.

3:11

It's, it's 16 years now.

3:13

Yeah. Yeah.

3:14

We just taken it your way from me.

3:16

Sorry about that. We just celebrated the 15th

3:18

year of one, two, three employee. I was shooting a commemorative

3:21

video for our employees. So that's 15

3:23

years there. Wow.

3:25

And for those of you watching the video

3:27

version on YouTube, Rumble

3:29

or Odyssey, that is a real background.

3:32

Devin lives really a

3:34

big stone's throw away from me right

3:36

on the harbor here in Palmas, Del Mar.

3:38

And it's a beautiful

3:40

day. It's a hot day. But you know,

3:43

it's mind boggling to me is here we

3:45

are closer than the rest

3:47

of the states to the equator,

3:49

and they've been having a worse heat

3:51

wave than we've been having.

3:53

Yeah, not too bad here. Not too bad. Nice

3:55

breeze. Beautiful Paradise

3:57

all year long. Yeah.

3:59

So for those of you that really

4:01

want to go deep on the Puerto

4:03

Rico connection and the

4:05

tax benefits, I recommend

4:08

you go back to the episode we recorded

4:10

three years ago. It's bad cosine

4:13

forward slash 382. We'll

4:15

have that in the show notes for this particular

4:17

episode as well. But I want to touch

4:20

on it, Devin, before we get into

4:22

some other things today, including

4:24

we're going to be talking about. So you guys want to stay tuned

4:26

for this and interesting opportunity

4:29

to go on a cruise

4:31

with us in April.

4:33

That's a little teaser for you. Let's

4:36

let's start out with the the

4:38

overarching benefits of

4:40

why Americans

4:43

are moving to Puerto Rico.

4:44

Yeah, absolutely. So Puerto Rico is

4:47

a territory. And if you

4:49

are a US citizen and

4:51

you jump through the legal hoops and you make

4:53

Puerto Rico your legal home, in other words,

4:55

you live here at least half the year, then

4:58

you essentially pay almost no tax.

5:00

So we pay 4% federal

5:03

income tax. We pay 0%

5:05

capital gains, we pay 0%

5:08

in dividends. And it is truly

5:11

a game changer. A dear friend of both yours

5:13

and mine and neighbor of so many years,

5:15

John Lee Dumas, who is an unbelievably

5:18

successful podcaster, always

5:21

says, I work 4% of the

5:23

year for the federal government and 96%

5:26

of the rest of the year for myself, he said. He works the first

5:28

couple of weeks of the year for the government and then that's

5:30

it. And that's

5:32

that's a big game changer. So we lived

5:34

in LA where we were paying between,

5:37

you know, corporate and federal

5:40

and state, and I think I was paying about

5:42

63% in taxes and

5:44

it was just absolutely ridiculous. And

5:46

so we first moved to Vegas,

5:49

got rid of the state tax, and then eventually moved here

5:51

and got rid of most of it. But there's

5:53

so many more benefits, too.

5:56

So, for example, one of the greatest

5:58

benefits is is deal flow. And you were talking about

6:00

that a few minutes ago, the amazing people

6:03

you meet here because you got to be a mover and shaker

6:05

to to do this. You know,

6:07

you have a tax situation, right? You need to save

6:09

money. You're doing well in addition to that,

6:12

to to pick up and move to a

6:14

territory, you have to

6:16

be a pioneer, which you are

6:18

such a pioneer. And you and I both have

6:20

that pioneering spirit, as does everybody

6:22

over here. And then what happens is you

6:25

have to spend at least a

6:27

half a year in Paradise. It just sucks,

6:29

right? I mean, look, look at this. It's just that's

6:32

so hard, you know? So it's gorgeous

6:34

here all year long. There's great food, great

6:36

people. And the actual

6:38

people who live in Puerto Rico, actual Puerto Ricans

6:41

are some of the loveliest people in

6:43

in the world. They will just give the shirt off

6:45

their back for you. They are so nice,

6:47

so wonderful. And I'll give you an example.

6:49

You just walk down the street and people are saying, good day

6:51

to you. Good day, good day, good day. Well, we leave.

6:54

We travel and and people aren't speaking to us

6:56

like saying like greeting us on the street. We're like, gosh,

6:58

you know, you get used to this, right? And

7:00

then we greet people and they look at us like we're crazy.

7:03

But there's also a lot more

7:05

benefits than. Just tax benefits.

7:07

So. So the way

7:09

all this works is, as Puerto

7:11

Rico is a territory,

7:13

they have their own tax authority.

7:15

And it's not the IRS, it's Hacienda.

7:18

And so if you're a bona fide resident of Puerto Rico,

7:20

that's who you're paying your taxes to. You're

7:22

letting the IRS know what you're up to, but you're paying

7:25

Hacienda, and

7:27

there's all these other programs that are available, too.

7:30

They used to be a whole bunch of different acts. They've now put

7:32

them under an umbrella called Act 60.

7:34

When Joel and I got into this, it was called Act 2022,

7:37

and we were just two of those acts. But now

7:39

Act 60 brings them all together. And

7:42

just to give you some examples of some of these

7:44

acts, I have a car

7:47

that is a plug in hybrid. It

7:49

only gets 19 miles

7:52

on a charge. Okay? It's just it's

7:54

just a token thing. But because it has

7:56

a plug, I was able to import

7:58

it here tax free and save 30% in

8:00

taxes. There's an

8:02

entertainment tax here. My

8:05

cousin Danny was just here shooting

8:07

a pilot for Amazon. She

8:09

got a 40% tax break

8:12

of which you can cash in that tax break

8:14

at 97 to 90 to $0.99

8:16

on the dollar. So it's essentially cash back.

8:19

There is a hospitality credit.

8:21

If you have like an Airbnb that has

8:23

at least I think it's 7 or 8

8:25

beds and baths, you

8:28

get 40% back over

8:30

four years. Many of you

8:32

who might live in the US might be familiar

8:34

with opportunity zones where

8:37

you get amazing tax benefits, while

8:39

98% of this entire island

8:41

is an opportunity zone. And this

8:43

list just goes on and on. I learn about all

8:46

these new incentives every day, and I

8:48

don't know all of them. But in a few

8:50

minutes, we're going to talk about one way that I'm going to

8:52

both you and I are going to learn all about them. And by the

8:54

way, Joel, my guess is

8:56

you don't know about all of them either.

8:58

No, I don't. I know you know

9:00

XD that's that's what I'm here

9:02

on and you know what you say is so true. I

9:04

came for the tax breaks and

9:07

I did have friends already. I knew you

9:09

and I knew Jld and

9:12

had visited. In fact, I think

9:14

that we. You're recording

9:16

the last time you were on the show was

9:18

when I first visited you in

9:21

February 2020. The episode came out

9:23

the the following month and we were

9:25

going to move to that

9:27

May and then Covid hit and everything

9:29

became more complicated and we put

9:31

it off for another year.

9:33

But I'm really glad that I pulled the trigger

9:36

when I did. I came for

9:38

the tax breaks, but I'm staying

9:41

for the community. I

9:44

have never in my life

9:46

and I'm approaching 60 ever

9:48

being in a community like this

9:50

of high performers,

9:53

of creative people, of

9:55

good hearted people. And

9:57

you have everything in where

10:00

we live in Palmas Del Mar, from

10:02

thousand heirs to billionaires

10:04

and from hanging out with people. You

10:06

wouldn't know the difference of who you're hanging out with

10:08

because it seems like the egos

10:10

are largely checked at the gate

10:12

and people were all here kind of for the

10:15

same reasons. Yeah, it's a yeah

10:17

for sure.

10:18

Sorry to interrupt, but yeah, it's like kind of a flip

10:20

flop and t shirt community, right? So how

10:22

are you going to be flexing? You know what I mean? So it's

10:25

nice. It's nice. People do check their egos

10:27

at the door. I think for the most.

10:28

Part, there's all of these groups

10:30

that we're in and signal and what's happened. There's

10:32

always something going on. You know, I've become a

10:35

pickleball enthusiast since I've moved

10:37

here. Aaron is a big golf enthusiast.

10:39

And, you know, we we live on

10:42

the golf course. So Holes five and six

10:44

of the Palms course are right behind our condo

10:46

and the beach is right outside the door.

10:49

And so it's just there's always

10:51

something to do. Yeah, we're going

10:53

somewhere tonight. Are you are you joining us tonight?

10:56

What's going.

10:56

On tonight?

10:57

I don't know. I have to ask Aaron. All

10:59

right, cool.

10:59

Cool. You check with your social director.

11:01

I'll check with mine. Yeah, but like

11:04

you said, I've never experienced

11:06

anything like it except on, like, television,

11:08

Right? These little, you know, these

11:10

TV shows that take place in this little small

11:12

town. Everybody knows each other, and they're all like,

11:15

best homies. But I've never experienced

11:17

in real life until moving to Puerto Rico.

11:19

I think part of it is, you know, when you're in the

11:21

city, like we came from Denver

11:24

to orchestrate somebody's calendar

11:26

with yours in multiple couples

11:28

calendars, you get together, it's a big deal.

11:30

It's an event here. There's so

11:32

many people and so many friendly people

11:35

that it's like, Hey, what are you doing for dinner tonight? Hey, we're having,

11:37

you know, karaoke at our place this weekend.

11:39

We're going to the Beach Club on Sunday.

11:41

And and people just continue to get

11:43

together to the point where we have

11:46

now had two since we've

11:48

been here, vacations

11:50

with groups of people

11:53

from here. So we basically just pack up

11:55

Puerto Rico and we put it on a cruise ship and

11:57

taken on the road. And we'll talk a little bit more about

11:59

that here soon. By the.

12:01

Way, are you going to Rusty's root

12:03

beer float party.

12:04

Tomorrow? Yes, I am going.

12:06

To hit that, too. But we have another party. Simultaneously.

12:09

So we're going to be jumping back and forth. Yeah.

12:12

So let's you know,

12:14

we kind of hit on the governmental

12:16

programs, the things that are available here. And

12:18

we'll try and find a website for you guys that has

12:20

all of the different acts so

12:22

that you can take a look at those. Let's

12:25

talk a little bit about some of the services

12:27

on the island and the things that people

12:29

are working on.

12:31

Yeah. So what's interesting

12:33

is, well, okay, so let me start with my own

12:35

personal experience. So I always

12:38

I felt that when we came here, we were going to approach

12:41

this as we are a guest in this territory.

12:45

And and so I don't,

12:47

you know, try to push my opinions

12:49

or agenda on anybody.

12:51

And my goal was to make

12:53

this place a better place

12:55

than when I got here, right. To to make a difference

12:57

and make an impact. And I like, I

13:00

kind of an impact junkie. So I really

13:02

like that. And a lot of people are doing the same

13:04

thing here. And, you know,

13:06

you can you could actually come here and say, I'm not going

13:08

to do any of that. I don't want to have any impact. I'm just going

13:10

to do my time and so on and so forth. And you would still

13:12

impact the economy because you'd hire a ton of people

13:15

to help you with a bunch of different stuff and you put a lot of

13:17

money into the economy.

13:19

And so

13:21

I'm involved in a lot of projects here.

13:24

One of my favorites is I

13:26

am a member of Partnership

13:29

for Modern Puerto Rico, which is the think

13:31

tank that was created by Alberto Barco,

13:33

who's the former secretary of

13:36

commerce to Puerto Rico. And

13:39

he actually, if you came in on our program,

13:42

Act 20, 22, several years ago, he would

13:44

have signed the decree because it was he and his

13:46

regime, if you will, that that ushered

13:48

in Act 2022. And

13:51

it has had such a huge impact on the

13:53

on this island. So

13:56

many things are happening. I'll give you an example. In this enclave

13:58

that we all live in, there has not

14:00

been new development here in two decades,

14:02

in 20 years, because it was overbuilt

14:04

in the heyday prior to 2008.

14:06

Now there's new construction here.

14:09

Um, and people are benefiting. One

14:11

of the things that is included in

14:13

the Act 60 program, not in my decree,

14:15

but in the current decree

14:17

is that you have to buy a property

14:20

within two years. So you can come here, you can rent a place,

14:22

you can check it out, see if you like it, but

14:24

eventually you have to buy something that is so great

14:26

for the economy. You know, it's fantastic.

14:30

You can see it. You can see things

14:32

changing here and you can see

14:34

that there's a lot of collaboration

14:36

between, you know, people that grew up in Puerto Rico

14:39

and us transplants. And it's

14:42

pretty cool to to see it in real time.

14:45

Um, I happen to be involved with

14:47

several charitable projects. We gave 1500

14:50

toys to the orphans last year. Um,

14:53

and I'm working on something really cool.

14:55

Matter of fact, I think we should talk about this. So. Yeah,

14:58

I think it's making news.

14:59

Here we go.

15:00

For the big reveal. What's up? So we

15:02

moved to Puerto Rico five years ago,

15:04

five months after Maria. We

15:06

first. And if you don't know what Maria was,

15:08

it was a once in a hundred year hurricane.

15:11

There's such a thing as a Cat six. That's what

15:13

hit Puerto Rico. As a matter of fact,

15:15

when it came onshore, it came onshore

15:17

right here, right here in Palmas,

15:19

Del Mar, right behind me, 210 mile

15:22

an hour winds. Unbelievable. And

15:24

it was it was devastating for Puerto Rico.

15:26

It was interesting, though. I was in a meeting yesterday

15:28

with Alberto and Luis Lumba,

15:31

and we were talking and they said,

15:33

you know, one great thing about

15:35

Maria is they put us on the global map.

15:37

People didn't know about Puerto Rico until

15:39

Maria. Now, a lot of people think that Puerto

15:42

Rico still doesn't have power and it was knocked

15:44

out by Maria and that that's not the

15:46

case at all. But I guess it did draw

15:48

attention to to Maria. So

15:50

our two Puerto Rico excuse me. So

15:52

anyways, when I moved here, nobody was here.

15:55

The lights were out. Um, and

15:58

I started a little cigar club.

16:00

Um, and later

16:02

it just became a social club. We, you know, cigars

16:05

were kind of optional. Um, and

16:07

we would have maybe 5 or 6 people that would show

16:09

up and we do them once a month.

16:11

Fast forward five years later,

16:14

we have almost a thousand people in the San

16:16

Juan Social Club and we do

16:18

events once a month, a curated locations

16:20

across the island. And my whole vision

16:22

for that, it was not complex

16:25

at all. It was basically I wanted to bring Puerto

16:27

Ricans together with transplants, people like

16:29

us, and just to to have cocktails

16:31

and break bread and get to know each other and have a dialogue

16:33

and have fun. And I'll tell you,

16:35

I would like to take full credit for that inspiration.

16:38

But actually it was somebody else's.

16:40

So we used to live in

16:42

LA and I used to have this friend, Brian

16:44

and Brian had this networking group

16:46

and I think it was called like Networking at

16:48

Night or After Dark or something like that. It

16:50

was like a happy hour, a thing. And

16:52

he would really build this as this serious

16:55

networking group. And we used to make fun of

16:57

him because what it really was, was a bunch

16:59

of young professionals getting together to like hook up.

17:01

I mean, but it was super successful.

17:03

It was like he would he put it in nightclubs and he'd

17:06

pack them out and it was great.

17:08

And we would just poo poo on him.

17:10

But he was one smart cookie.

17:12

And. And fast forward

17:14

decades later, he has the biggest incubator

17:17

in Los Angeles that was born

17:20

out of that. And so so

17:22

I just started doing these events. I didn't charge

17:24

for him. It's just, you know, fun

17:26

getting people together, knowing that, you know,

17:29

it would it would create some cool stuff on the island.

17:31

So anyways, you know, now

17:33

we get a lot of people that show up to the events and

17:35

it's super awesome. And I had

17:37

another inspiration that I can't take credit for.

17:39

So Joel, as you know, for the last

17:41

decade, I've spoken on a cruise called

17:43

The Marketer's Cruise. You never came along, right?

17:46

Never try to get you right. Okay. So the marketers

17:48

Cruise is all the top marketers from all over

17:50

the world. They get together on a cruise once a year, about 450

17:53

of us. And I would speak on that cruise every year. And

17:55

the byproduct of that was three things.

17:57

One, I made a lot of money from the deals

17:59

that I made to all

18:02

these joint ventures I did with a

18:04

global audience. They went back to their

18:06

respective countries and they were thought leaders

18:08

in those countries and they spread my word and kind

18:10

of made me a global brand in my space.

18:12

And then lastly, now

18:15

it's a decade later. There's not much money for me

18:17

to be made. I'm already doing business with

18:19

all of these people. There's a little fresh blood

18:21

every year, but that's about it. But now we just

18:23

go every year because now our best friends are

18:25

there and we know that if we didn't take the

18:27

cruise, we wouldn't see them. And that's

18:30

what happens when you have time

18:32

with people. Time equals depth.

18:34

The more time you spend with somebody, the more you

18:36

get to know them, the more money you can make with them,

18:38

the deeper your friendship and bond

18:40

becomes. And so I always wanted

18:43

to do a cruise. But five years ago, as soon

18:45

as I got to Puerto Rico, I had the idea. But the timing

18:47

wasn't right. Now, five years later,

18:49

we are launching the San Juan

18:52

Social Club cruise.

18:53

Remind me the URL, I'm going to go and pull

18:56

it up so we can show it.

18:57

Yes. If you go San Juan.

18:59

Social Cruise. Com. San

19:02

Juan Social

19:04

Cruise. Yep.

19:07

And so the

19:09

idea behind the San Juan Social Club

19:11

cruise. It's for residents of Puerto Rico

19:14

and people that are interested in Puerto Rico

19:16

that want to network, make friends

19:19

and learn about all of Puerto

19:21

Rico's amazing resources,

19:24

benefits and opportunities and those

19:26

resources, benefits and opportunities. I

19:28

kind of put it into three buckets. One is

19:30

governmental, which is a lot of the stuff that we talked

19:32

about today. Two

19:34

is all the cool stuff

19:37

that guys like you and I are doing all over

19:39

the island. Things from like investments to

19:41

like renewable projects to you

19:43

name it. And then lastly services,

19:45

all the different services that are offered on the islands,

19:47

banking services, accounting services,

19:50

hospitality, different services like that.

19:52

And so we set

19:54

sail April 13th of next year.

19:56

We announced it three weeks ago. We've already

19:58

had 150 people register and it

20:00

looks like we're going to cap it at 300.

20:03

I don't want to, but they don't have enough room

20:05

on the boat. They don't have an event space big

20:07

enough for us. So I think we're going to cap it at

20:09

300. We are on virgin

20:12

virgins. Brilliant lady, which is

20:14

not even in the ocean yet,

20:16

right? They drop it in December and then

20:18

Joel and I and a few friends are going to

20:20

go test it out in February. And

20:22

then in April we do

20:24

the big cruise. So we'll be on Virgin's

20:27

brilliant lady. If you're not, I mean, you've probably

20:29

heard about Virgin Cruises, but you may not know

20:31

it's the hottest cruise line on the ocean

20:33

right now. Everybody is raving about

20:36

Virgin. It's all adult. It's

20:38

super fun.

20:41

The ship the ship just looks absolutely

20:43

beautiful. I've done a lot of cruising and

20:45

I feel like Richard Branson is next level.

20:47

This stuff and this boat is going to

20:49

be sparkly, brand new. And I'm excited

20:51

because we leave from San Juan, which

20:54

is real fun. So wherever you're coming from, you just

20:56

fly into San Juan, spend the night downtown, maybe

20:58

get a little early, see Old Town,

21:00

San Juan, visit the fortress, right? Do

21:02

a little touristy stuff, and then we

21:04

take off. We spend a whole day at sea

21:06

on our way to Aruba. Beautiful

21:09

island. Then we bop over to Curacao.

21:11

I haven't been to Curacao since I was a little

21:13

boy, and I've been wanting to go back

21:16

ever since then because I remember it

21:18

just being a Paradise. And

21:20

then we're off to Martinique. You could practice your

21:22

France if you want to, and then

21:24

to Saint Kitts and Nevis, where

21:26

I am also a citizen of

21:29

I'm a saint. And so for me,

21:31

it'll be going home before I go home.

21:33

I think that's so cool. I think you need to use that passport

21:36

when you come over. So a few things to

21:38

note. If you haven't been to Puerto Rico

21:40

before, come a couple of days

21:42

early or stay a couple of days late. We're going to be

21:44

showing everybody around, so it'll

21:46

just be super fun. I have

21:48

to tell you, this is so funny, Joel. So

21:50

20, 25 years ago,

21:53

let's see, I measure in girlfriends

21:55

lives and I've been together 15 years before.

21:57

That in.

21:58

Girls. So. Yes, 20

22:00

years ago. Okay. This was in the Mariana

22:02

days, 20, 20 years ago.

22:04

I came to Puerto Rico for the

22:07

very first time. I'm on a cruise ship. We had a half day

22:09

here and it was beautiful. I

22:11

remember I just thought it was so cool. And

22:13

at one point I was on this balcony and I looked

22:15

out over Puerto Rico and

22:18

I said to myself. Who

22:20

the hell lives in Puerto Rico now?

22:23

I didn't mean like, who would live here. I just meant

22:25

who the hell lived here? It wasn't. Yeah,

22:27

it wasn't on my radar. I think I barely

22:29

knew it was a part of the US. And now

22:32

I live in Puerto Rico, and so do you. And

22:34

I think that's just so cool

22:36

because I just have fallen in love with Puerto Rico.

22:38

And the pictures you're seeing right here

22:40

are of old San Juan, which is the oldest

22:42

city in the US. It's

22:45

epic. And so, yeah, you know,

22:47

come early and check it out. And then the other thing I was going to say

22:49

on on Curacao, listen,

22:51

I've been in Curacao a bunch of times. We've been to all these ports

22:54

a bunch of times. We're going for the people, we're going for

22:56

the ship. But

22:59

Curacao is unique because I think it was

23:01

a former Dutch colony, I believe.

23:03

And so it looks it looks like

23:06

that It looks you know, so many of

23:08

these Caribbean destinations can kind of blend,

23:10

you know, blend, gel together.

23:12

Right. They're all beautiful blue beaches and what have you. But

23:14

Curacao is truly unique. And what's interesting

23:16

is we have some some really

23:19

top notch speakers, including Mr.

23:21

Joel, really, you know, top of their

23:23

game cutting edge speakers, which I'm very

23:25

excited about. John Lee Dumas will be joining us,

23:27

too. We have Alberto Barco, former

23:29

secretary of economic development

23:31

for Puerto Rico. Brock Pierce, crypto

23:33

billionaire Harry Dent, another one

23:35

of our neighbors prolific.

23:38

We have Michael Drew, the number one

23:40

book strategist in the world. Nobody on the planet

23:42

has more New York Times, USA Today or Wall

23:44

Street Journal bestsellers like 124

23:48

of them. Just unbelievable group.

23:50

Who else do we have? Let's scroll down.

23:51

Oh, John Lee Dumas is there.

23:53

Yeah. Oh, and then I was going to tell you this, too. So we

23:55

have Mr. Joel. We have Jerry Conti. And then

23:57

this is kind of interesting. So Derek Hogan Camp

23:59

is a dear friend of mine, lives

24:02

in Europe and lives in

24:04

Dubai, but actually

24:06

grew up in Curacao. He hasn't been back there

24:08

in forever and now he's going to be back there on the boat.

24:10

So. Very cool.

24:12

Excellent. Yeah. So, you know, this

24:14

is the

24:16

people that you're going to be rubbing

24:18

elbows with on this cruise.

24:21

I don't know where you are. You know, in

24:23

your life, those of you who are listening right now.

24:26

But if you're into crypto, you're going to find crypto

24:28

people. You're going to find a wide

24:30

swath of interests in the

24:32

blockchain space, in the NFT space,

24:35

in the metaverse. Yeah. In all of this

24:37

you're going to find high performers

24:40

and you don't know like I'm

24:42

going to say take a risk,

24:45

get on the boat, reserve

24:47

your room, get on the boat

24:49

and see what happens. Because

24:51

any time, you know, in my life showing

24:53

up is been the key to success

24:56

is putting myself out there. And

24:58

we already know there's over 125

25:01

people from the San Juan Social Club

25:03

that are going to be there, 150 and

25:05

and more to come. And,

25:08

you know, and I'll see you there. I'll be on the

25:10

boat. We'll say, hey, I'm on my way

25:12

to, you know, to the pool.

25:14

Exactly. Hey, um, I

25:16

was going to say to, um,

25:19

I can honestly say and I'm sure that you can

25:21

say this to all of your for

25:23

me, it's all but at least some

25:25

of your best connections always

25:28

come from events, right? My best connections,

25:30

my best amigos, my, my,

25:32

my highest yielding business contacts.

25:34

They all came from events. But now if you

25:36

go from one day or two day or three day event

25:38

to a one week long event, then you really

25:41

go deep and the benefits are huge. We're

25:43

going to we are definitely going to have some crypto celebrities.

25:46

I did want to kind of tell you guys a

25:48

little bit about, you know, what's involved and what

25:50

have you. So it's super easily

25:53

$300, you

25:55

know, locks in your crew. So basically you put down

25:57

a $300 deposit per person,

25:59

everything's double occupancy and

26:01

then we collect the rest of the money, or Virgin collects

26:04

the rest of the money from you throughout

26:06

the course of the year until December

26:08

1st. And

26:10

then we've negotiated some great perks

26:12

for you. So number one, $600

26:15

on board, carbon credit for

26:17

cocktails. And by the way, virgins cocktails

26:20

are super awesome and super inexpensive.

26:22

Like they're doing this totally different

26:24

now. I think a beer is $5, a cocktail

26:27

is $9, which is like half the price

26:29

of like a Carnival cruise ship or

26:31

something. So very cool. Um,

26:33

so we negotiated $600

26:36

cabin credit. In addition

26:38

to that, your, your, your

26:40

single fee is going to cover your port taxes,

26:43

your your tips, everything

26:46

essentially. And

26:49

if you book this week when you see

26:51

this podcast will give you an extra

26:53

$100 credit as well.

26:55

So it just makes it so unbelievably

26:57

reasonable. Also, if you're thinking

27:00

of coming solo, not

27:02

a problem, you just simply

27:04

put in on your guest, you put TBD

27:06

and then you have some options. You

27:08

have until December to figure

27:11

out who's going to go with you. You can

27:13

replace a person like if you want to put somebody in

27:15

temporarily, we can change it up. Not a big deal.

27:17

Or you can have us help you find a roomie

27:20

and that's no problem at all. We're getting plenty of room. We.

27:22

Us and we have until December to do that.

27:24

So it's no big deal at

27:26

all.

27:27

So, you know, a lot of the the rooms

27:29

on cruise ships are small

27:31

or dated. This is a

27:33

brand new boat. And for those of you

27:35

that are watching the the

27:37

video version of this, the

27:40

the suites, they're really

27:42

beautiful. They're they're great rooms.

27:44

And this is you know, we're we are doing the

27:46

very same cruise twice

27:48

you and I are. Yeah. And

27:51

I have no qualms with that because

27:53

I feel like we're just going to be cruising

27:56

in style. And how long do people

27:58

have to to put down their

28:00

deposit and book to be sure they can get get

28:02

all the perks?

28:03

Yeah, we have a little time, but you want to take

28:05

advantage of the perks and jump in now to lock

28:07

into reservation. We will sell out soon

28:09

if you want to get the extra $100 credit on

28:11

top of the $600, then the time

28:13

to do this is now. Um,

28:16

and, um. Yeah,

28:18

I mean, it's super, super exciting. By

28:20

the way, if you happen to be foodies,

28:23

um, Virgin does things a little bit differently.

28:25

So normally you have,

28:28

um, you know, like a

28:30

big dinner room, if you will,

28:32

like a what's the word I'm thinking

28:34

of? Whatever,

28:37

an assembly place for dinner. And

28:39

then there's usually. Dining room. Dining room.

28:41

Thank you. Um, brain fart. But

28:43

then there's also usually a couple of specialty

28:46

restaurants. Virgin's totally different. They have

28:48

no dining room. It's all restaurants,

28:50

and they're all Michelin star inspired

28:52

menus. So if you're a foodie, yum,

28:54

yum. And if you like to drink, you

28:56

got a big fat credit that will cover basically

28:59

all the drinks you're going to want.

29:00

And no kids on the cruise.

29:02

Okay. It's no kids. And we know for some of you,

29:05

you know, that that could be a deal killer.

29:07

And.

29:08

You know, you put them off on grandma and grandpa

29:10

for the week. I mean, that's what they

29:12

love that That's what we did with our little.

29:15

Right.

29:15

Exactly.

29:16

Exactly. So there you go. The

29:18

links are in the show notes for everything. Yeah.

29:20

One last thing.

29:21

When you when you book,

29:23

there's a little dropdown who referred to you

29:26

and just click on bad crypto or

29:29

comm.

29:29

Okay, great.

29:30

And that way we can make sure that we put everyone kind of

29:32

in the same cool kids area and

29:34

we'll have everything all set.

29:37

Uh, excellent. I was

29:39

So that will be in the booking process.

29:41

That's where they do that. So yeah, just, I

29:43

think it's in my name. So just.

29:45

Just look, I put both on there.

29:47

Okay? So either one, we'll do the trick.

29:50

And those of

29:52

you that are bad kryptonians that end up

29:54

joining, you know what? We'll probably set aside

29:56

a little happy hour. Yeah. For us. I think.

29:58

We should. I think we should.

30:00

Hang out together and get to

30:02

know you guys a little bit and that'll.

30:03

Be. I think that's a great idea. How cool is that? You get

30:05

to hang out with Joel. Calm. Hello.

30:08

That's awesome. I mean, I get to hang

30:10

out with Joe all the time. I'm spoiled,

30:12

but, you know, you probably don't get to if

30:14

you're just a or if you're a listener on

30:16

the podcast.

30:17

But now on the high seas, maybe ya

30:19

we be pirates. So

30:22

Devin, one of the reasons

30:24

that, you know, I got into crypto,

30:26

which we went into length in the previous

30:28

interview three years ago, was because you were

30:30

the final nudge, you kind

30:32

of pushed me over the edge back

30:34

in spring of 2017,

30:37

and it was through

30:39

you that I finally took the leap.

30:41

And so you are a big

30:43

crypto guy and I

30:45

want to know your take the lay of the

30:47

land right now. You know, time stamp this.

30:50

It's mid-August 2023.

30:52

Bitcoin has been hovering in the 29,000

30:55

realm. The SEC is coming

30:57

down hard on everything they can throw

31:00

mud at. How do you see

31:02

this all fleshing out? And do

31:04

you believe personally enough financial advice

31:06

that 2024 is going to be

31:08

the bull run that puts us on

31:11

the same cycle that we've always seen?

31:14

Boy, that's a really great question. And I

31:16

would honestly say that my crystal ball

31:18

is a little murky. But,

31:20

um, the consensus

31:23

with the people who know is

31:26

that the, the this

31:29

bear period is over. Um,

31:31

and obviously

31:33

the number one driving force

31:36

is, is BlackRock,

31:38

right? And so you're going

31:40

to see a insane

31:42

amount of money flood

31:45

into the market. So,

31:47

you know, it seems like, um, you

31:49

know, we should be back moving again.

31:52

Um, I think it's enough to move the

31:54

needle. It should be, um,

31:58

you know, I looked at like this, um,

32:01

during the last bear market.

32:03

What. What brought us back

32:06

was a few things.

32:08

It was Michael Saylor, PayPal

32:11

and Elon Musk. So

32:14

when we went into this last bear phase,

32:16

I was like, What? How are you going to top

32:18

that? You know, but, but BlackRock

32:21

ETFs that

32:23

would do that mainstream adoption.

32:25

That's, you know. Right. What we're looking for.

32:27

Yeah. Yeah. So it I

32:30

thought this bear market would be a lot longer.

32:32

I really did. So you know

32:34

they're not been these most recent announcements

32:37

I would have said you know maybe maybe years still

32:39

but I think the odds

32:41

are pretty good that we

32:43

could be back in business in 2024.

32:46

Yeah, I would agree.

32:48

Let's go. We're all hanging on. So another

32:50

reason to get on the cruise, to prep yourself,

32:52

to make some connections, meet some people

32:54

that'll help.

32:56

These are movers and shakers. People, people

32:58

on the inside. Yeah, absolutely. So, I

33:00

mean, and you you guys may not know

33:02

this, but they call Puerto Rico crypto Rico

33:04

because the US crypto guys

33:07

and gals came down here because

33:09

you know, they make a lot of money in the crypto

33:11

space.

33:12

So and this is how, you know, we've

33:14

managed to legally pay

33:17

far less taxes. I mean,

33:19

it's almost a negligible, a negligible

33:22

amount legally, folks, legally.

33:24

And once you stop paying

33:26

30, 35%,

33:28

40% in income taxes,

33:31

the magic of compounding

33:33

is really something amazing.

33:35

That's when you really start to see it.

33:37

Yeah. And you know, you have more money for

33:39

whatever you want in your life. I find

33:41

that money intensifies everything. So if you're

33:43

a good person, if you're philanthropic,

33:46

you're going to be more philanthropic. And I know I certainly

33:49

am here. I mean, I give a lot

33:51

of money. We're doing a lot of things. And and

33:53

it's great. It's a great feeling. So

33:55

that's pretty cool.

33:56

Excellent. Well, Devin, thanks for for coming

33:58

on today. Really encourage you guys to

34:01

to go to the website for the San

34:03

Juan Social cruise if you just go to

34:05

San Juan Social cruise

34:08

is that right?

34:09

Yeah that one's fine.

34:10

Then you can get there also SJ Social

34:12

Club will get you there. The links are

34:14

in the show notes for this episode and

34:16

probably under the videos if you're watching there.

34:19

Bad code and for forward

34:21

slash 693

34:24

is what it's going to be all about. On our next

34:26

episode, Travis Wright will be back.

34:28

He is doing some globetrotting

34:30

trotting the globe and I might

34:32

be somewhere else in the world as well. But that's the beauty

34:35

of, you know, podcasting is

34:37

you can do from wherever you are.

34:40

Awesome. Awesome. Joel Thanks so much for

34:42

having me, Amiga.

34:43

Absolutely. And I almost called you

34:45

Travis. I did call you Travis. Gavin, Do

34:47

you know how we end the show? You know

34:50

how we end the show.

34:51

I guess. Stay

34:53

back.

34:54

Oh, that's it. Bad.

35:14

Who's bad?

35:16

The Bad Crypto podcast is a production

35:18

of Bad Crypto LLC. The content

35:21

of the show, the videos and the website

35:23

is provided for educational, informational

35:25

and entertainment purposes only. It's not

35:27

intended to be and does not constitute

35:29

financial investment or trading

35:32

advice of any kind. You shouldn't make

35:34

any decisions as to finances, investing,

35:36

trading or anything else based on this information

35:39

without undertaking independent due

35:41

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35:43

financial advisor, Please understand

35:45

that the trading of bitcoins and alternative

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