As the founder and CEO of Gokshtein Media, David Gokhshtein is not only a successful entrepreneur but is also a highly sought after consultant in the Blockchain Industry. His expertise is focused on marketing, branding, and start-ups working with digital assets, NFTs, institutional finance, and many more aspects of the industry. David’s presence is notable with a large following on Twitter, and other social media platforms as well as a public appearances and contributions to Fox Business, Sky News, industry events, and more. In addition to his entrepreneurial journey, we talked about the following subjects:
- The ‘Ric Flair’ Of Crypto
- Marketing & Branding In Web 3
- Understanding The Web 3 Community
- The Essence Of Branding In Web 3
- Bored Ape Yacht Club
- NFT’s & Real Estate
- Simplifying The Real Estate Transaction
- Free Market vs. Regulation
- Trillion Dollar Player
- XRP vs. The SEC
- Ethereum 2.0
- Ethereum Will Flip Bitcoin
- Vitalik Buterin & Ethereum
- The Crash Of Terra Luna
- What Is Web 3?
- Always Bet On Yourself!
Every week, the RUN GPG Podcast aims to provide inspirational stories from people who made a mark in entrepreneurship, entertainment, personal development, and the real estate industry. It is produced by the GREATER PROPERTY GROUP to help the audience grow and scale their business and their life.
Contact David Gokhshtein
Website – https://www.gokhshteinmedia.com
Instagram – https://www.instagram.com/davidgokhshtein
Twittter – https://twitter.com/davidgokhshtein
Contact David Morrell
Instagram – https://www.instagram.com/thegreaterdavid
Twittter – https://twitter.com/fearofdavid
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David Gokhshtein - Podcast Transcript
Buying a house is honestly madness. What if all this can be done within instead of 90 days? What if it can be done in a day’s time? If you had the opportunity to embed NFTs into the entire real estate process? So much easier. Listen, I don’t wanna compare this space to the internet cause it’s so much different.
It is so much different. And if you don’t like it, don’t gotta have, You don’t have to follow me. I’m like the Rick Flair of, Of this space. Yeah. You go like me or you are not and I’m okay with it. But you know what? When you see me at those conferences, you shake my hand. So it’s all good.
As founder and CEO of Gokhshtein Media, David Gokhshtein is not only a successful entrepreneur, but is also a highly sought after consultant in the blockchain industry. His expertise is focused on marketing, branding, and startups working with digital assets. NFTs. Institutional finance, and many more aspects of the industry.
David’s presence is notable with large following on Twitter, other social media platforms as, as well as public appearances and contributions to Fox Business, Sky news, industry events and more. David, welcome to the RUN GPG podcast. What’s going on? Dave? Pleasures to be on here. Thank you very much for inviting.
Yeah, well, happy to have you. Excited to have you because the, the timing of this couldn’t be, more perfect. You know, so much has happened in the world of crypto, blockchain, NFTs, and of course web three. But before we get into the current state of the Union, as I was saying, I want to give some context to the discussion.
So I wanna go back to the beginning, if that’s okay. How and when did you get into the crypto industry? Into tech, and what was the genesis of Gokhshtein? I would say I got into tech at a early age. Forget about like, I guess crypto then and blockchain. I got into tech really early cuz I had family members that were, you know, coders.
So I was like always interested in, I mean, I had a Commodore 64, if anybody goes back to that. Yeah, it just showed my age. So like I was working on that. I thought I was, doing something. I was actually doing nothing and I had that Atari and stuff and I would try to doodle and fix it up on my own kind of thing.
But yeah, I was always into tech. I love tech. And then, you know, at 14, like I started building stuff forms so I can have conversations with people outside of aol. Oh my god. Really showing my age. But outside of aol, chat rooms we’re long in the tooth. David. We’re long in the tooth. Yeah. Right. so like, yeah, I remember those AOL chat rooms.
Only 23 people can fit in and stuff. And we’re talking about modems here. Okay. We’re not talking about T1 lines. but yeah. And. You know, I, I slowly, 10 years ago, got into this industry and, I was really interested in blockchain at first, and then it led kind of into Bitcoin and then everything else came along with it.
So, I appreciate this space a lot. I’ve learned a lot from finances to economics. this space has taught me a. and it continues to teach me. Yeah. So about 10 years ago you said you got into crypto, right? Yeah. roughly. You know, that’s, that sounds about right for anybody who is, you know, been involved in this space for a long time.
First time we, we heard about it, was many years ago. Whether we dipped our toe in the water back then is, is, you know, it’s very rare to find the people that did maybe 10 years ago. But, so what was the, what was the genesis of, of Gossing Media? How did that start and what was the mission of that company from the.
So like being in the industry, there was a time where like, you know, a lot of people would come into this space and everything’s broken down to them and c plus C plus plus, basically everybody’s speaking code and most people don’t unders like, I don’t even wanna say most people, but I would say like 95% of the people coming in don’t understand what you’re saying.
Nothing’s being broken down on layman’s terms, and I’m like, there’s not a lot of, a lot of media companies out here, or even news outlets just breaking it down in simple terms at the, at the ground floor. I was like, You know what, let me just go ahead and start a magazine. Let me start a magazine and break it down for people that are just coming into the space so they can at least onboard themselves.
That was really the mission. I’m going to hire a few people. I’m gonna start this magazine and allow people to get in on the ground floor. I didn’t charge anybody. It was all outta my pocket. And if anybody knows anything about magazines, it’s not a money maker. It it, I’m talking about you bleed out. Till like you really bleed out your till on magazines.
But to me it was more more about, you know, bringing adoption to this space. Like I was really, I’m really serious about bringing people into this space and giving everybody the same opportunity that I was given. And I was given this opportunity by a guy who consistently, you know, I say 10 years, but it was, you know, I could.
12, 13 years. Because there was a guy literally telling me, Get in, get in, get in. And I was like, No, you’re you’re crazy. Like this is, this is crazy. But that’s only because we were stuck in this whole narrative. Of here’s the fiat system, you’re programmed into it. enjoy it. and here, here’s how you know, you, it is great that you have potential, but you’re just limited here.
And then when you finally get woke to this whole, you know, situation at hand, and especially look at that economy and all that, you start to understand, okay, that guy really wasn’t crazy. He was onto something. So, yeah, the magazine then led into the media company, which, you know, Which at this point, you know, I feel is one of the top 10 media companies in this space.
providing constant content. And it’s not just, we’re just throwing out content. We’re out there in the trenches talking to people as they come in. I don’t care how many followers I have, I don’t care how much, how big we are. I. 20 years, 30 years down the road, I will continue to be in these spaces in the trenches to bring adoption and give people the opportunity to get in.
So yeah, that’s what the media company’s about. And shout out to, you know, my partner Ross McDonald over there, who works hours upon hours to go ahead and make sure that everything goes through without a hiccup. Yeah, Ross is doing a great job. thanks for the breakdown there. Now, it’s really interesting.
One of the things I like about, what you do specifically in Gokhshtein Media is it’s no nonsense caught to the chase, you know, very blunt in a lot of ways. As we were saying, you know, before we just had, Ty Lopez on, we were talking about the pseudo intellectuals in the space. Everybody’s got something to say and you can debate in, you know, long form conversations about, you know, everything.
Web three, blockchain, cryptocurrencies. However, it’s nice to have. You know, an outlet like yours where we just, get to the. We just get to the point, was that deliberate or was that organic? Is that, That was just my personality, Dave. Like my personality is like, bleep bleep, and this is how I feel and this is what you’re going to get.
It’s raw. There’s no filter on this mouth. It’s just like my show, like there’s no filter. Like I’m going to tell you how I feel. I can be right, I can be wrong, but like if I’m wrong, then let me know and I’ll, We’ll, we’ll have a discussion and I’ll be open minded to learning about it. I’m, I’m here to, I don’t have a narrative and that’s how G Media is.
Like, we don’t have a narrative. We’re gonna present you the news. We’re gonna present you all the, that educational material, take it upon yourself now to figure out which side you’re going on, if you’re going to the left or to the right. We don’t have an agenda, and I feel like mainstream media does, like every single time I go onto a news show, they have an agenda and that.
How can we sort of, number one, they don’t even understand the space, but they’ll, they’ll, How do we go ahead and beat down this space? I, I’m not with. I’m like, no, that this is not going to be the narrative and we need to present this to the public to where they understand, and I go back to the education part and to dumb it down at the ground floor to allow people to understand.
So yeah, I’m gonna, I’m gonna speak my truth and if you don’t like it, you don’t have to follow me. I’m like the Rick flare of, Of this space. Yeah. Yeah. Like me or you are not. And I’m Okay. Don’t care. You can cuss me out, but you know what? When you see me at those conferences, you shake my hand. So it’s all.
Love it. I love the philosophy and you know, as we were saying in a lot of ways, you know, marketing and branding for startups and, and projects and blockchain and crypto, it’s a relatively new industry. It really is. Now, you know, we’re involved in an NFT project and I’ve learned a lot myself over the past, you know, couple of years, but it’s.
Pretty incredible to think that there’s actually not a lot of companies that specialize in marketing and branding for a lot of these projects. So many times the team’s just thrown together with no idea where to begin or what works. So the question is, why is that? Like why is marketing and branding sometimes the last thing that these projects think about?
And besides, you know, hiring your company, what should they be thinking about maybe. I think a lot of business owners, because I, that’s what I call them, you are a person who is building a business within a web three space. Number one, I think people have the wrong perception of marketing. First time business owners, most of them.
We, at gMed, we try to build out marketing campaigns or branding campaigns the same way that Nike or Apple does. There has to be a story to why you went ahead and build this. What’s the. Does it go outside of this space too? Like does it work outside of this space? A lot of people have this thinking of like, Okay, we’re in this space and in this space only.
No, I’d like to see projects get out of this space and have, let’s say, Microsoft, or if you’re talking about real estate, have some of these big real estate companies use the tech that you’re building. Number one, benefit you and benefit themselves. Marketing companies that come from web two into web three, they don’t underst.
The crowd in web three. So they think it’s, Oh, this is the same crowd that we market to, or we do branding for in, you know, the centralized world. It’s not, First of all, there are a bunch of apes and alligators running around here. You don’t know their real names and you don’t know their, the, the way their psyche’s set up.
I do, I, I, I live this, like, I breathe it. I know the pulse. I know what the people want, and the people want transparency and honesty and the way we present projects that come and sign deals with us, for us to go ahead and be an extension of their marketing company or of marketing department, excuse me. We just know how to build.
That narrative and that brand and how to break it down for the average normy that comes into the space. That’s awesome. That’s a, that’s a really good breakdown because it is true. The last thing they think about is marketing. They, you know, they come up with a great concept and they go, Now we gotta tell people about it.
So how do you do that? Right. And do, do you wanna spend the money that that’s. That’s the biggest issue because then like I could break it down to you, and I believe it in my heart. I can brand the hell out of anything, but it comes down to money and people feel like, Oh, but marketing shouldn’t cost that much, you know?
But marketing is one of the most tedious. Jobs on the planet to, to actually develop a storyline, to break down everything and to educate people about your brand. It is tedious. I have to learn what your brand is about and sometimes I have to question you, Hey, like, did you notice you have a flaw in your brand?
Maybe correct us before we go out there. People don’t want to. Constructive, you know, feedback or criticism. And right away it’s like, Oh, well I’m not gonna pay this amount of money to have somebody tell me about my project. I’m just gonna go get somebody to say buy it. And then they come back to us anyway, so it doesn’t matter.
I like it. And, and you know, the other part of it is, you know, the other part of it that’s, you know, somewhat challenging or unique is that, You’re actually building a community, which is the essence of branding in a way. Like, you know, it’s not like you, You make a widget and you come up with an ad campaign to sell a widget.
You know, in this space, you’re actually building a community of people that you know believe in the project, the founders utility or whatever. So it’s different and a lot more, as you say, tedious, laborious, whatever it might be. So what should projects be doing to build a community?
So what should projects be doing to build a community? First of all, it starts with, what you say, community. What they should be doing is actually engaging with their community. You know, you have a lot of people that have their nose in their air. They don’t make time at all to speak to the people that are supporting them.
Like that’s right off the bat, like, like I would never support a project that doesn’t have the founders or anybody in upper management come out and speak on a daily basis. Like I make time every single day. To come out there on a Twitter space, on a clubhouse and engage with the community like I, and it’s not because I’m forcing myself to, it’s cuz I want to, I wanna get feedback.
If I am somebody who’s building something, I wanna have something out there every single day talking to people. What? It could be repetitive. I don’t really care, but I want to talk to the people out there because something within that hour’s time, something might. And I might have that aha moment and say, You know what?
I might be doing something wrong. Let me correct it. All I need to do is just turn the doll a little bit here and my project goes from here to here. Like the people really do have really good feedback and sometimes, sometimes the Com community knows more than the owners themselves. Yeah, that’s, That’s well put.
That is true. Sometimes they see a flaw that you don’t, which I think is important. Now when we think about this, what’s been some of the most effective marketing and branding you’ve seen over the past few years? Anything that stood out to you in terms of a project board? Apes? Yeah. UL Labs. Like what guy has been able to do shout outs?
A guy, he has been able to put together a roadmap and execute. You talk about execution, Huga Labs has executed, you know, the board apes were created and essentially to me, the punks being really high in. So here comes the apes from my side is, hey, we’re lazy apes and we just got rich. So we’re just laying back and we’re just chilling.
And you had people that went into it and then the roadmap began. It was just like, now we’re gonna have mutant apes. So those who missed out on the board apes. So you could still get in. And now we’re coming out with a metaverse. If in if anybody has experienced their meta. Oh my God. Next time they come out with something, I’m in, like I’m first in line.
They’ve made the roadmap enticing for people, even people like myself to jump into. If you wanna look at a project that’s really done a great job executing their roadmap, it would be Yuga Labs. The board Apes, listen, they started and the punks were here and now. The apes they hear and they own the punks.
A hell of a story. It should be on Netflix. No, absolutely. I think it, it might be at some point. I mean, they’re even partnering with M and MSS now. I don’t know if you saw that. IP ownership, . That’s pretty incredible brand. Building a brand. I mean, it’s a case study. Absolutely, 100%. The thing about them is that they made sure to tell you, look, you own your ip.
You own the IP to your nf. You have people taking the r i P making deals. You had that burger shop in Cali, which opened up a burger joint with the board eight. Right at the top of the store, packaged on all of, whatever, all of, the cups and drinks, whatever, like it was all, all Board Ape. I don’t know how much they paid for it to use the ip, but still that’s passive income.
I talk about that all, all the time as well. Passive Income Board Apes, man, I am going to build something. I am looking at Yuga Labs and the board apes and I’m trying to figure out how they went ahead and put everything together because that is a successful. Yeah. Unbelievable. and, and I think it’s true, you know, it’s getting more and more important to describe or explain what you’re getting right.
In this space. Like, you know, we’re in the age of utility. That’s a fact, right? With NFTs. And as predicted, a lot have failed, right? Some are struggling, some are just getting started. Some are thriving, like board Abes and crypto, and crypto punks as we mentioned. But, where are we with NFTs right now in this space?
In your opinion? Like where are things going short term, long term? Long term? I think it’s. I’ve said this so many times since I, I, and I’ve been saying this since 2017, 18, I think we are hopefully at the phase where we start implementing the technology, the NFT technology into real estate. I’ve been saying that for a really long time.
I think real estate’s where it’s at titling like the nft, NFT Tech, our real innovators get their hands on it. They can make transactions so much more easier to go. Than what we currently have today. And that an example would be if you went to buy a car, like it takes like 40 minutes to get out of dealership, cuz you gotta sign those, those papers.
Well if you, if you went ahead and used NFTs, take you five minutes, you’re in and out, have a nice day, paperwork’s all transferred onto your wallet and you’re all good to go. Same thing with real estate, like there was a transaction on properly, which literally Michael Aing. Shout out to him. Went ahead and sold his condo in Ukraine within five minutes, like title transfer done.
Buying a house is honestly madness like, it’s frustrating. It is a frustrating process. But what if, what if all this can be done within instead of 90 days? What if it can be done in a day’s time and then like you’re happy. It’s a first time purchase. Everybody’s on, on nerves. But I feel like if you had the opportunity to embed NFTs into the entire real estate process, so much easier.
People will be, I think you’d have more sales. I think people would have more. I think real estate agents should be, they should be going crazy and saying, We need to implement NFTs because they would have a way more sales. And you know what? Sellers would be able to sell their houses a lot. Yeah, we’ve been saying it for years.
You know, as a, as we were talking about, you know, we, our brokerage does transact in crypto and it’s, it’s really interesting. We sold a house for Ethere not too long ago, and the process was so quick, you know, wallet to wallet, it was unbelievable. And it was actually a, a banker sitting at the table relative of the purchaser, and they said, you know, in the banking world, this would’ve taken days, if not weeks.
To move this around and here we were sitting at a table getting it done, you know? Sure. So I, I truly believe that is the next frontier and we’re trying to lead the charge with that as well. And shout out to November 15th where David Gokhshtein will be speaking on a panel, but web three. Cryptocurrency, blockchain, and real estate.
That’s gonna be a fun one. Anyways, let’s talk about cryptocurrencies specifically now for a minute. It’s been an absolute roller coaster this year. Of course. it’s usually tied to the price of Bitcoin as we know. thoughts on what we’ve seen this year with the crash. Why did it happen? What do you see happening over the short and long term now with crypto curr?
So people will say he’s, he’s into conspiracies. I’m not. It’s just, Well, we did, Well, we went all the way to 69. From 35 we went to 69. So I wouldn’t say that’s, I wouldn’t say it’s bad at all. And all the major institutional players. And corporations essentially, like people leave out corporations, they’re not, The institutions of corporations are two different things.
So Apple hasn’t gone in yet with their 300 mil or billion, excuse me, dollars and real cash. But once they start coming in, you know, the $69,000 number is going to look funny and people will be scratching their heads and saying, Man, I wish I would’ve got in at this point. But obviously do the economy. I, I feel like also, A lot of manipulation within the markets by the big boys.
like, you know, Black Rock, which I despise and Fidelities of the world. they went ahead and got the price to go down and, you know, they bought their bags back. They’re ding and they’re buying their bags cheaper, and that’s how the big boys play. You also had a lot of companies that were over leveraged as well.
You know, they were new to the in. They overleverage and, and they, you know, you have the CELs and you have three acs and Voyager that all got destroyed because, you know what? They played their hands wrong, so blocky as well. I, I, I think we make a huge comeback though, because I think the next run. You will see everybody in and you’ll see more regulation.
And who does reg regulation benefit? It? It benefits the corporations and the institutions. It doesn’t benefit somebody like myself or, you know, the regular person walking out there in the street today using the Robin Hood app. It doesn’t benefit them. it benefits those big companies that are going to come in here and they, they’re all know that they are protected.
My only problem with this Davis is that I came into this. And we chanted. Free market. Free markets, free markets. That’s what we were looking for. That was the reason why Bitcoin was created to begin with. Free market. Every time we go up, everybody’s screaming. Free markets, no regulation. Every time we go down, everybody’s screaming, including Mark Cuban is screaming for regulation.
Pick one. It has to be one or the other. My biggest thing is that if we don’t figure this out, we are going to lose the best innovators in the space to other countries that are more, more open to having people create really dope things. So, I, I’m, I’m scared for that. I’m really scared that we’re gonna lose a lot of innovators from the United States to other countries.
So I hope that the United States gets their stuff together. stop the narrative. Let’s get something that’s super crypto friendly and allow people to build. And then, you know what, you know, the Safe Harbor Act, which, one of the s e c chairs wants to, you know, put out there which order to allow a company to build for the next three.
Then they can classify it as a commodity or a security. That’s probably the right approach. Let people build, If they can’t build something that’s an actual utility within the next three years, then okay, label it as security and then that company will have to go about things with the S E C and all that, all that good stuff.
But I, I think. The next run. Not to get away from it, but the next run is going to be, I think it’s going to 50 times whatever we experience on the last one. I really do believe so. Yeah. It’s interesting, you know, in talking about institutional adoption, you mentioned BlackRock, their trillion dollar player, and they’ve partnered with Coinbase now.
Right? I don’t know if that gives you, like, gives validity to the space now, but what are your thoughts on that partnership? Like that’s, Well, Black Rock’s already been here, like they just made the announcement. It’s like they’ve been looking at this space because they’re, again, like all these institutions are smarter than us and I’ve, I will always say that we are goldfish, They are sharks.
They’ve been in the water watching as we’ve all been having this kumbaya session, and then they came in slowly just tapping the water. But now this whole Coinbase thing is, Hey, we’re officially in. It’s good for them though, because their clients are asking for this. Their clients want to participate in Bitcoin.
They want ownership of Bitcoin, They want it in their portfolios. So Black Rocks going to give it to them. Are they gonna jump in immediately and throw one or two or $3 trillion into the game? I don’t think so. They’ll slowly, I think, go into the market. But again, for. It’s all about regulation. Like they wanna make sure that their stuff is protected and not have themselves get destroyed.
Like some of these other institutions that got destroyed few months, or I would say two months back here during this, lovely, bearish, trend that we’re going through. Yeah. Interesting. And you, you know, speaking of regulation in the S E c, following the Ripple X R P case with the scc, what are your thoughts on that?
And I’m not gonna ask you to necessarily predict what happens there, but a lot of talk about that. I mean, this has been dragging out for a while now. The way the s e C went about was just wrong. There were a lot of people that went into X R P because it was available on exchange. Two or three or four exchanges went ahead and asked the SCC, well, is it okay for us to go ahead and list XRP on here?
Is it a security, a not? And they didn’t get an answer. Ripple goes to the scc, says, Well, how did Ethereum go from being a security to a non-security? They don’t get an answer. They get no clarity. And then eight years later after people, an arm and the XRP Army’s huge after X R P, is out there for eight years.
So many people invest into it. On the last day. John Clayton, the commissioner. He’s walking out, he throws a case of Ripple. Made no sense. Absolutely no sense. I think honestly speaking, they’re going to win and it’s either settlement, which is highly in their favor or a just complete victory, which then.
Would change the entire landscape of cryptocurrency because now you’re not under Howie Rules anymore. Now you’re under Ripple rules because then everybody will say, Well, look, look at Ripple’s case. And that would honestly benefit this entire space because there would be clarity. There are a lot of people, really cool people that do really dope things that don’t want to innovate because they don’t.
If they do something here, will they get smacked by the S E c? And that is holding back innovation. And I only speak for the United States. I know in Canada or in Portugal or in Aruba or Barbados. You can go out there and do whatever you want. El Salvador, obviously, you know how they went ahead and made Bitcoin legal tender.
You can. The United States is holding it up. It’s time to allow the noose to come off and allow these innovators to innovate. Also at the same time, this has to come from congress. Congress has to go ahead and say, Look, this is going to be the body that oversees. If you guys all want regulation, well this is the body that oversees crypto and it has to be one that is pro crypto, pro-innovation, and not one that literally stifles it.
Very interesting. I love your breakdown of that, and it’s well, well said. And you, you did bring up, Ethereum. So I want your thoughts on the merger there. What Ethereum’s doing there, for those that don’t know, maybe can explain what Ethereum is doing and give your opinion the big changes to Ethereum.
I like proof of work. This is probably the only thing I agree with, with Max’s from the Bitcoin side, the hornets, the cyber hornets that attack, but like they do say like proof of work. I, I, I really do believe proof of work is necessary until you can figure out something else. I think proof of stake will work out well though for Ethereum.
And we need something to go out there as big as Ethereum to see if, if it can work. If Vit gave a speech at futurists, blockchain futurists, he said that peer tope shouldn’t have all these fees associated with it. When you make a transaction, if Ethereum can somehow bring down their fees to 15 cents, 20 cents dollar, $2, even on a transaction, they will flip Bitcoin market cap wise.
Okay? Not number wise, cuz everybody gets that Com market cap. I can see them flipping Bitcoin just because Ethereum continues to build and people continue to build on Ethere so that is something that is not happening on the other side. You can say it’s happening, but how many people are building NFTs on top of Bitcoin?
Compare it to Ethereum. Ethereum is growing in, That entire ecosystem is growing. It is eventually going to happen a year, two years, three years from now. There will be a. Unless Bitcoin goes ahead and changes his own narrative. But I’m excited about it there. I don’t want to derail it, but I’m excited about what they’re doing with Vitalic.
He does not rush for anybody. And you know, Ross McDonald reminds me of this all the time. The co, the CEO of Goy Media, he’s constantly saying Vitalic will take his time before he puts something out there. And I agree with him. He doesn’t listen to the crowd. He’s going to make sure that once he puts something out, That it does work or that it needs minor fixing or maintenance to be done on it.
That’s it. So I’m okay with waiting. Even if they come out right now and say there’s a delay until 2023, I’m okay with it because I know that he is going to put something out there that will revolutionize our space. Yeah, I, The interesting thoughts, you know, he, he’s a very interesting guy and, and when I was listening to that whole speech about what they’re doing with Ethereum 2.0, you know, as a brand, Ethereum’s been really good and successful as a brand, actually.
Right. Vitalic is, he’s really revered in the space now because of it. And one of the things that I thought was really interesting is he started talking about how the energy consumption will be reduced. 99.9% now. Yeah. You know, and got a big applause. As a brand. People are like, Oh wow, that’s genius. The narrative is like, Oh my God, this is so much better than Bitcoin because of the energy consumption.
Again, branding and marketing. that’s all branding and marketing. It’s all branding and marketing. That’s why I said it, and that’s why I got the cheer, you know, his theory around that or what they want to accomplish or their mission around, you know, reducing fees. It’s, it’s, And if they accomplish it. I think, like you said, I think you’re absolutely right.
It becomes in some ways a lot more popular. I think Bitcoin maxes sometimes shoot themselves in the foot, you know, because they listen. I, I, we had a sometimes. Well, we had Syphoning Ams on recently, right on the show, the author of the Bitcoin Standard. And I tried to get him to bite on anything, not bitcoin, anything, you know, is there any, any type of utility, any use case that you can see of value And he would not do it.
You know, even when he brought up the question of like, what happens when all Bitcoin is mine? What happens then? Cuz now, now it’s not proof of work, right? Right. You’re gonna have to listen that episode to find out what he. But the point is, Bitcoin maxes talk about, you know, in some cases pseudo intellectuals, as we say, or whatever, or the cult-like thinking.
This space is evolving. You can’t ignore the utility behind some of these, these products and, and projects. Anyways. Fantastic thoughts. I appreciate you breaking that down. You know, o other headlines this year we’ve seen some pretty serious, you know, hacks and data leaks this year. Can you speak on the importance of security for anyone getting into the space?
You know, unfortunately we are in such a new space that, you know, these things will happen. I think, obviously, like Vitalic said, that bridging is a problem. it’s something super new and it wasn’t really created within the grand scheme. So, you know, we need, we really do need our best innovators, go back to our best innovators again, to figure it out, to make it safe to where you don’t have so many of these hacks happen.
You know, you had one with harmony. Harmony suffered a hundred million dollar hack on their bridge and a project that was stellar and had a lot to offer to the. Is now literally on its knees trying to figure out how to get back up again. And who knows if they ever will, It’ll take some time. It’s like, listen, I don’t wanna compare this space to the internet cuz it’s so much different.
It is so much different. But the internet also had its hiccups, you know, And anything in general that has been like, cars, planes, like they’ve all had their hiccups and so we’re going through that phase. But we are getting to, we’re, we’re living through. You know, the people that come in here or, or come into this space five years from now, they won’t go through it.
You know, they, you know, they, they’ll hear stories about it, but they, they’ll never go through it. We’ll be the veterans and the OGs that have gone through it. but that’s what happens with innovation and I’m all for it. Listen, good. Keep creating. Obviously the hacks really do suck. But I wish, I really do wish, and I said this, I say this a lot on my podcast and I say this on, on spaces or on clubhouse.
I wish these hackers would just find the exploit, show it to the protocol, because we’re all here trying to build, right? And you’re, if you’re already in this space and you know there’s a there’s an exploit, just show it to the project. And these projects should have rewards. I mean, big time rewards.
Hey, we’ll give you $3 million if you can go. Find an exploited albridge, for instance, if somebody does find that, give them the $3 million and hire them. Like if I am a protocol, I’m giving you $3 million. I’ll give you a $5 million signup bonus, and I’m hiring you to find something wrong within our protocol to make sure that our protocol can be attacked, and that’s something that these hackers should think about and not just go for that one time, you know, the one time payment, and try to go through tornado.
Which is no longer available to them. at this point, get a job man to make about $5 million annually. Not a bad gig to sit on an island and just type on a computer and figure out what code. Oops, sorry about that.
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You know, interesting too, you know, some of the other headlines, just with the alt coins this year, you know, Canada just came out with an announcement that they’re gonna be capping, you know, the amount of money, you know, an individual can spend on Alco, which is just shocking and not all provinces, by the way, is what I’m reading.
But, I think the capped it at 30 k I think in, in alt coins. But, you know, there’s been a. Weird, you know, things happen, you know, Luna, right? For example. What did you think of that, by the way? First thoughts that come to mind? you would have to bleep out this entire, section here in this podcast. I think that there is no way that you can actually maintain 20% a y Look, I’ll go stable coins.
You need somebody like vital. To work on it. Cause vitals, brain is just on a different, I think he’s an alien. If they would’ve bought Bitcoin at around 3000, 4,000, I think that, I don’t, I don’t believe Luna would’ve went. I think they would still would’ve survived being that they bought it at, I think at an average of 30,000, $32,000 and they tried to back a UST that hurt them badly as you saw, or deep peg and everything went to crap, and then people turned it into a mean token.
So yeah, it did hurt the industry because now the people that hate this industry will use all these things that happen to showcase why this industry can’t. Instead of saying, Here’s the fry percent that they’re showing you, but the 95% that, you know, the stuff that actually does work that won’t be showcased, you know, we’ll go talk about Bitcoin and it’s, you know, you mentioned about, you know, Bitcoin using energy and stuff, but how much energy does it really use?
Does it use more energy than the politicians flying in on G five? You know, to go ahead and get to their offices. you know, cows do they let off more pollution than, you know, than Bitcoin. Like, I can go ahead and name a bunch of stuff that people might cringe to as well, but like, at the end of the day, I don’t think that, you know, Bitcoin really, you know, with the type of stuff that Bitcoin is creating, they’re more energy efficient too.
Like there are a lot of people that are, that are. With energy efficiency in, in, in mind. So I think proof of work will still stay around. By the way, I just think I, I, I’ll be with you on this thing where you were mentioning it, on the last note, what happens when everything is minded like you, you’re going to have to change, and change needs to start now.
It can’t start right when you’re about to go ahead and mine out all the. Yeah. Yeah. Well, well said. Interesting thoughts. Now we can’t talk to you without talking about, web three. everybody’s moving to, or talking about anyways, Moving to Web three or having some involvement in, in it. You see, mainstream companies, big companies that are adjacent to it, talking about it.
Where are we with Web three? What are your thoughts on, the development of that space? I don’t even think anybody knows what Web Three means. Yeah, it’s possible. Every time I ask somebody, What’s Web three? Well, it’s web three. I’m like, Yeah, but what is it? I heard, I, I actually heard a really interesting quote about what web three is.
Web three is the internet of value, which I thought was good. Somebody finally got created with branding. You know, like, So to me, web three is it, is that, and also, I look at it as, centralized companies are coming into this space and it’s just a flip that’s happening currently right now cuz you have the Nikes, the Pumas, all them are coming into this space.
For me personally, I think they’re trying to build another revenue stream. And also trying to acquire more users. Once you build an nft, for instance, like you should be building your NFT with bringing more people to your brand and continuing to own your brand and likeness. That’s how I look at web three.
But there honestly, there’s real, there’s really no real definition of web three. You got Jack Dorsey. That’s. Came out with Web five. We’ve skipped Web four by the way. We went right to five and somebody’s gonna come out with 10. I just would really like a real, real definition of what Web three is, but to me it’s more so like, you know, just all these big companies coming in and using the technology that we have now built and, you know, positioning themselves into, I guess, Web five or Web seven or Web Nine or whatever it is.
We’re still, you know, honestly, Dave like. This is still the AOL stage. I, I if, if we want to go ahead and compare this space and what Web three is. Well, I think web three is probably what AOL was, when it allowed more than 23 people into a room and then you got your DSL modem instead of, using that.
Damn. Don’t. So that, that’s what I think it is. Yeah. You know, if anything, it’s, it’s a buzzword right now. You know, you got people talking about Web three or should we, And they don’t even, like you said, they don’t even know what it is or what the value would be to their company. You know, I had somebody talking to me about Web three the other day.
I said, It does nothing for you. Like, this is not, this is not what your company does. It’s not your brand. This is no point. It’s just a. You know, in a lot of ways it’s a buzzword and everybody’s talking about it. However, there are specific applications, to the technology that everybody’s talking, or in the ecosphere of web three as they relate to certain industries.
We, real estate’s, one of them, real estate’s, one of them. so anyways, okay, moving along. This is the, personal development section, David. Personal development section, we always like to ask successful entrepreneurs. what’s your daily routine look like? Oh, oh, oh, okay. So I wake up at, about six o’clock in the morning, and then I make sure to drink water.
I don’t drink, I don’t think this is true. I don’t think this is true at all. I like, Yeah, you should ask Ross . This is true. Ok. Ross has tried to get me drunk multiple times and I’ve just said no. Like, I will not take a shot of anything. I am, I’m an, I’m a fitness freak. I like to exercise. I will take two hours out of the day to make sure that I get, you know, Leg day in, I’m getting chest and shoulders, you know, shoulders and back.
I’m doing everything to make sure that I’m not just sh sitting in my chair and looking at charts, which I really don’t much, you know, I, I DCA all day. Every, those that are stuck looking at charts, they don’t get off their, you know, tails at all. I, I, I wanna make sure that like, with all these gains and everything that I’m doing, that I am alive and healthy and able to walk.
so I can. Participate and continue to participate within this space. But my daily routine, get up, drink. Well, you should brush your teeth too. put on some clothes that have gone into the laundry, and that are steamed. Right. And then I’m just working, I’m working not David, I’m just working nonstop.
Like I work nonstop. My brain doesn’t stop. I, I think about everything I’ll overthink sometimes, which I’m practicing now. Not to overthink too much, just to you. If I feel it in my gut, go with it. And if it doesn’t work out, there’s no plan B or C, it’s still plan A, just make a correction to it. And then, you know, I, I go to sleep probably at two o’clock and then again it rinse a repeats.
The cycle continues until, you know, until I can, I don’t know if I’ll ever stop, Dave, honestly, I kind of thought about, somebody asked me this question. They said, Once you get there, will you stop the insanity? And I said, I don’t know, like I should, but I don’t know if I ever will. I, I don’t know if I ever will.
I, I love this space too much. I have a good time here. I’m thankful that I no longer work in corporate. Corporate, for 15 years was hell. A lot of benefits. But when you wake up to it and you see that you really, you really do not have the freedom or the ability to really level yourself up. It, it’s really sad because it’s like you’ve wasted 15.
On not developing yourself, since we’re talking about developing, right? Mm-hmm. , you haven’t really taken the chance to, you know what? Bet on yourself. You should always bet on yourself. Give it a try. Worst case scenario, you feel and you go back to working wherever you were supposed to work, but step outside your comfort zone.
I, you know what, So many me, motivational and inspirational speakers speak about this, right? Step outside the box, take a chance on yourself, da da, da. It really is true. You gotta have that fear cuz fear allows you to go ahead and succeed. I really believe that like fear, having that fear will allow you to go ahead and succeed.
If you don’t fear n nothing, I think you’ll never, never, never level up. Well said. I, I really like that. That’s great advice for, you know, young entrepreneurs as well. what do you do for fun then? I know this is really tough for entrepreneurs to answer successful entrepreneurs because they get really stumped.
I say, What do you do for fun? And they go, you know, cause they. You know, they work. I fun. I, I don’t know, like, I wish, like fun. I, this, this is fun. I guess, me being able, you have an audience, I have an audience we can speak about, you know, the things that you do in the, in, in your industry. Things that I do, I, for me, I like to No, you, I’ll tell you what’s fun.
What’s fun is I know that I am building something that will help people. Get out of their current situations. And then at a certain point I’m going to go out there and do things that other people say that they do. And that is build workshops for people that are not in the position to be able to study.
I want people, more people to get into this space and get some sort of certificate to where they can work for one of these c. And, you know, make a hell of a living and enjoy their families and be comfortable. Cuz that’s really all that we seek. Right? Does it, do you need $50 million to be comfortable? No, I don’t believe so.
You can, Some people just need $50,000 to go ahead and live the life that they’re looking for. So to me that is probably what’s fun for me. Is, is that aspect. Very cool. two questions left. this one’s gonna really make you think, David, this one’s gonna make you. And you go see steam come out. This is a tough one, but it’s a fun one.
If you could have dinner with any three people in history, past or present, who would they be and why? Gotta pick three. Gotta pick three. Pastor. Present, right? Pastor, present. So I would definitely pick, Muhammad Ali. Good pick. Good pick. Because the mindset, I don’t know if, if you’ve ever watched any of his.
He was so quick, forget about on his feet and fighting. He was just quick mentally, you know, with the things that he said. And his thought process to me was, you know, like he put on this act. But you can see this man was super intelligent and I would’ve loved to picked his brain on a lot of things, besides boxing.
I would love, would’ve loved to speak to. Tesla because I think this man was just, I don’t even think it’s just proven that he was ahead of his time and I would just would love to know where was he getting these ideas and it was he from this planet. Because some of the things that are still out there, like people still can’t create and it’s literally, if you could create it, it, it would revolutionize or bring things to this world that would be freaking amazing.
The last one, I’m gonna go with Kobe. Ooh. I like it. You know, God bless him. you know, rest in peace, Co. But, I, the mindset, his mindset, he was so determined, you know, to be the best. Like I didn’t say Jordan, I could’ve won with Jordan cuz I, because I, I, I mean for all intent purposes, people compare those two, they’re like, Kobe was like Jordan Light kind of thing, but Kobe was so determined to.
And he wasn’t happy or satisfied even when he won the championships that he won to me. Like I study Kobe Bryant. I read his stuff, I watch his stuff. Still, that’s a mindset that I’ve developed that mumba mentality of like, No, there is no quitting. And, and you can’t, like you have, you can’t be high or you can’t be too low.
It just has to be middle. I’d love to go ahead and speak to him, especially the stuff that he was saying after retiring. It made so much sense and like he. Finished with basketball, went on to a different career, which she was, so he was getting there. He was so successful. Wanted, wanna Oscar? I mean like, would’ve loved to sat down with all three gentlemen and have a have a talk with them.
Yo, what a dinner table. So we got Muhammad Ali, Ola Tesla, and Kobe Bryant. Wow. What a dinner table. okay, final question. When all is said and done, David, what do you want to be known for? What is the David Gokhshtein G Media legacy? What does that look? I, I want to be known in this space as, you know, I, This show is ama, this is like, I’m gonna cry.
No. I, I really want to be known as somebody who helped, Pave the Way, or one of the people that paved the way for the younger generation to get in and to really understand money because we didn’t have, we weren’t afforded that opportunity. I really didn’t know what money was. Until I got a hold of Bitcoin.
I just want that young generation to have the same I wanted, I want their path to be easier. I want us the OGs to pave the way, pave that road for them to just get their cars and just drive on a freeway without no potholes and to continue to build, you know, this phenomenal. If I can help with that, I feel like my legacy’s good.
And I also just, again, I want to help people as much as I can. The people that we always state that we’re going to help, we never help. So I, I’d like to be somebody who goes around. And actually puts these programs into place and again, helps people that are less fortunate or aren’t in the position of having a way to get in and just be comfortable within their lives.
Well, put fantastic thoughts. I, I really appreciate the way you broke that down. And David, I want to thank you, immensely for joining us today. It was good to hear your story of co, of course, your thoughts and. Perspectives on the current state of the Union and blockchain, crypto, web three, all of that stuff.
really, really fascinating stuff. where can the people find you or where do you want them to follow you and connect with you? You can follow me on my personal account. go, David Gokhshtein at David, Go on Twitter. Same thing for Instagram. Same thing for TikTok. I’m doing those dance I’m doing, I’m trying to do, I’m just kidding.
But you could follow me on TikTok. and then we have, and. Gokhshtein Media. They’ll all verified. So, Gokhshtein Team Media, please follow us on Gokhshtein Team Media. We do work hard, to provide content that is literally straightforward. There’s no agenda, there’s no narrative. tune into us and go team media.com and we, have a hell of a team, led by some incredible people and they deserve to go ahead and.
A tremendous platform and only you, the community can go ahead and give them that. So tune in to us. we are here for the people and that’s why we do call ourselves the People’s Blockchain. Perfect. Thanks for joining us today, David. Really appreciate it. Thank you so much, Dave.