#718 – The Expat Files: Cryptocurrency, Business, and Life in Latin America

Automatically transcribed from the original recording; names and wording may contain errors.

[00:00] South of the border down Mexico way That's where I fell in love when the stars above came out to play and now as I wonder Hello there all you expat wannabes. I'm Johnny Mueller and you're listening to the expat files living in Latin America The show that tells you just what it's like to live work play and or retire down here in Latin America It's a mix of the good the bad the ugly and the great and it's all right here. So let's get started Hey, you know at all my expat insider seminars. I have a couple of surprises Well at my upcoming seminar which kicks off in about a month starts January 6th. It'll be no exception We've got as announced famous Bitcoin Dan

[00:45] What the world's experts on cryptocurrency the guy that taught the very first university course on cryptocurrency and Bitcoin in the world Yep, he came down to my second seminar about five years ago now and he helped or you could say kind of Kick-started a number of seminar attendees and gringos and expats in the area to the point that there's a vastly disproportionate number of Bitcoin millionaires within a stone's throw of the places we visit at the seminar So there are plenty of gringos and expats down here in Central America who owe a great debt to Bitcoin Dan Who when he first came down and started explaining to me about Bitcoin and I remember it was around 10 or 11 bucks Man those are the days and it died a thousand deaths since then and now it's at 12,000 as I do this broadcast

[01:30] Now that's not to say like any commodity or financial instrument It can't take a big hit to could easily take a big hit like it has in the past took many hits But it always seems to go higher next time Hey, like I said, the cryptocurrency market is the Wild West So if you're in you need to have a thick skin and as they say ride them cowboy But you know sooner or later, it's gonna find its market value. It's gonna stabilize Like other commodities kind of hang there and not move much But since we're in the very beginning of a brand new financial instrument class You have to expect it's gonna shoot all over the place now some of you might be bored But we really have to talk about this stuff Why? Because so many people that come down to my seminar as well as people who don't and just send me emails or come down With boots on the ground themselves

[02:16] They want to know how to make a living here in Latin America once they've settled in and started their plan B That's the million dollar question for at least half of the people who come down and the other half with a big nest egg Who don't need to make any money. It's a funny thing They usually end up doing some kind of business or charity work to hey, you know You're gonna have a lot of time on your hands So you have to keep busy or as old John Galt would say either stay busy or stay drunk and it's usually better to stay Busy, so how do you do that? Especially if you don't have a lot of money? Well, if you're gonna do it the brick-and-mortar way, it'll take some time, you know Oh, it'll be cheap All right compared to starting a business up in the first row probably a fifth of what it would cost you to do the same Thing up in the States and the bureaucracy and permits. Well, that's a lumbering process down here, too But also very cheap compared to cost in the first row

[03:05] However, once you've got those permits and your doors are open you might never have a visit or inspection from a government official again But you know brick-and-mortar businesses have their drawbacks you're stuck at a location generally You got to deal with the help and salaries inventory utility security rent and all that then there's the easy way that would be doing business Online and you know at my last seminar We had a very special guest a man with a very interesting claim to fame a Google Ads Specialist who sold more than a hundred million dollars in products and services using Google Ads. In fact, he was number one with Google Oh and his presentation and stories thoroughly captivated my last seminar audience And he put together a fantastic PowerPoint presentation that he gave out to everyone

[03:52] Showing them dozens of ways on how they too could make money on the internet and with an internet business your startup costs are Nothing near what it would cost for a brick-and-mortar startup. Now, like I said in the upcoming seminar We've got Bitcoin Dan peeling the layers of the onion in the cryptocurrency space and Mandas He have some inside information out that's playing out. But what about making money with cryptocurrency? There's a lot of diverse ways to do that. Well, that brings us to our next surprise guest Another early seminar attendee very very smart guys been down here five years or so himself He's another one who came down to the seminar and never left. He's promised to a segment at the seminar, too Well, why would he do that? Well, how about this for a coup you've heard of those cryptocurrency miners, you know Bitcoin miners and such

[04:40] Well, that's what he does. That's how he makes money. He's mining Cryptocurrencies right down here. In fact, just a stone's throw from where I'm doing this show right now So how do we get him on board for the seminar? Well, just a few weeks ago I visited his house and I noticed in his unused maids quarters a couple little boxes with fans and fins about Shoe box size man, they were whirring and putting out a lot of heat and he said I'm mining cryptocurrency In fact, I'm mining a couple of the most popular ones aetherium light coin Then he went on to explain the whole thing to me and he said he's got a couple of different online Schemes where he makes money off of cryptocurrency mining and other things related Then he said he was waiting for some more of those crypto mining hardware boxes And right now he's setting up the electrical so that he doesn't blow any circuit breakers and his condo complex

[05:31] So yes, he's making money a dozen different ways off the internet off the cryptocurrency thing and from being a miner Cryptocurrencies and Bitcoin are very very hot topics right now though Most people don't own any and very few people know of anyone who's actually used this stuff though. It is catching on fast I bet you never met anybody who's an actual miner. Well, you will at the seminar Oh, and by the way Oscar the cryptocurrency miner does not speak a lick of Spanish You see you don't need to in the cryptocurrency world though It certainly would give you a leg up if your clients happen to be Latin Americans Bottom line no matter where you are in your plan B If you have to make some money once you land in Latin America, and you have a very low startup budget

[06:16] Man, you won't want to miss our back-to-back speakers That would be Bitcoin Dan and expat Oscar our local cryptocurrency miner. Yep Every neighborhood should have one but they don't oh, they're out there All right, but they're rare as hen's teeth now We've all heard about these Bitcoin and cryptocurrency miners But you know, they're kind of an elusive and mysterious group of guys now Of course, you've probably seen pictures of gigantic Bitcoin mining farms where there's rows and rows and racks of hardware That's the kind of large-scale Bitcoin and cryptocurrency mining you've all heard about But I'm here to tell you there are lots of different ways You can mine cryptocurrencies and you don't need a big setup and at the seminar You'll find out all about that stuff from a guy who's actually doing it right down here in Central America and making money at it

[07:05] Like he said to me just yesterday Johnny I'm gonna tell him the good the bad the ugly and the great about Personal cryptocurrency mining and how to get into it and what to look out for and where you can really clean up And like he said, you don't have to be a techie or genius or even know how the hardware is doing it But he'll get into all that of course at the seminar So the point is when you finally get down here and get that plan be going if you need to make money You won't want to miss these two guys at my next seminar I mean look at least half the emails I get these days are from younger people Wanting to get their plan be going sincerely wanting to become expats and since they're young and not close to Social Security or pension Age not yet. Anyway, they don't expect it to be there when they are and you know, they all give me a version of Johnny

[07:50] You know, I got a decent nest I couldn't last me a couple of years down Latin America But I really do need to do something to make some money so I can keep on living in the style I'm accustomed then they generally ask me for suggestions and I tell them you'll never know till you get your boots on the ground down Here you'll see those opportunities with your own eyes However, everyone knows where the big and easy money is these days It's on the internet at least easy in the respect that you hardly have to put any capital into a business like that So with all that money being made in IT these days There's nothing like getting it from the horse's mouth from expats that are already doing it You had another reason to come down to the seminar to get the inside track on how expats are making money down here, too Why do you think it's called the expat insider seminar? And there's still time to sign up

[08:38] Just go to www.thenewexpat.com click on Johnny's seminar link and it'll take you right to the information page Oh, and once again, we'll be talking about lots and lots of things. We just can't discuss on the radio or in podcasts Why well, there's a lot of information. We don't want the rest of the world to know Oh and why all this talk about Bitcoin in crypto currencies? Well, because I get a lot of emails on the subject more and more every day And it's really not all about investing or speculating in crypto currencies though. That's part of it It's more what crypto currencies can do for you It's smart people and astute expats who understand it's very wise to get your assets out of the US and first-world countries and transferred into Foreign jurisdiction or foreign bank from there Of course, you could buy assets gold real estate boats cars land open businesses start brokerage accounts

[09:28] Whatever anyone with half a brain knows it's no good to keep big money in a bank Not these days. Anyway, when all first world banks are on the edge of well disaster however, most people have to keep some cash in the bank and up for a couple of months to hold you over in case of a catastrophe like for example What happened in Puerto Rico and what you're about to face up in the first world when the system crashes? Which is why it's also wise to have a couple of months of physical cash around Hidden somewhere in your house and people who have foreign bank accounts or foreign investments know when they transfer money around it Goes through the New York Swift system and they take a giant chunk out of you Whereas Bitcoin and cryptocurrencies are virtually anonymous if you take precautions and your transactions clear practically

[10:16] instantaneously compared to banks Even better crypto transaction fees are miniscule compared to bank fees and you can ship Millions if you want without filling out reams of paperwork and going through that bank know your customer crap In fact, you cut the banks out completely. That's why they hate cryptocurrencies like Bitcoin and would love to see them die But you know what? They've passed the point of no return. They're too big. They're here to stay notice I'm not giving you any investment advice here. That's what the experts are for like expat Oscar and Bitcoin Dan Oh, and this will make you laugh. You know at last seminar when Bitcoin was around 2000 to 2500 that was last July. Well some attendees got in at that price After talking to some expat Bitcoin orders and Bitcoin Dan he was at the last seminar, too

[11:03] Anyway, just recently I got an email from one of those attendees who'd made 500% on his investment in four months First he thanked me for having all those Bitcoin experts around and said he'd never would have gotten in had he not been in On those great discussions. However at the end of his email, he had a caution. He said Johnny, you know what? Bitcoin is not female friendly He said my advice Johnny if you're gonna get into Cryptocurrencies like Bitcoin or whatever by all means inform your wife for your other half But if you try to explain everything and tell her too much You could end up like me getting into a fight almost every night for a while because you see when I was at the June Seminar I bought at around 2000 and of course my wife knew it and when it hit 4000 time to get out. She said we doubled our money in just two months

[11:50] Fantastic and I said no. No, you didn't hear those Bitcoin guys at the seminar They're thinking it's gonna go up to eight or even ten thousand be patient and she said, oh no We've been through that before and other investments Let's get out now while we're ahead and you know what it caused a lot of fights But I held my ground. In fact when it hit six thousand, she pestered me so much to sell I said look, here's the deal. We'll both get treasure wallets You can have half and I'll take half you spend yours and I'll sit on mine, but that's yours to spend Don't ask me for any of mine So we got into that discussion Not just once a number of times and each time she walked off in a huff and I won the argument just barely Let's see Wasn't it Mark Twain that once said if you win an argument with your wife

[12:36] The very last word you say is the first word of the next argument And now that the price is hovering around eleven thousand But happy as a clam as she plans our next boots on the ground somewhat deluxe trip to Central America because you know Expedia Takes Bitcoin Johnny if you think that just happened in my family I've got a brother and another good friend here in my town They both watched me get into Bitcoin and jumped right into and when I told him that story about my wife Both of them told me very similar stories about their wives Yes, they got into arguments about selling Bitcoin early too and my brother he caved when Bitcoin hit 3,000 He took a big chunk out He said to remain on speaking terms with his wife and now he's kicking himself and his wife is kicking him too saying

[13:26] I know I told you to sell but if you just want to held your ground so he can't win either way Which is why our emailer said Johnny if you're investing in cryptocurrency by all means tell your wife or your other half But be prepared because females are not Bitcoin friendly. All right, me Johnny here I think he's got a point there still that begs the question then what about LGBTQs Bitcoin friendly or not Alright one more thing about Bitcoin and cryptocurrencies before we move on a lot of countries and banks hate Bitcoin it disrupts things, you know the way governments and banks have traditionally had everyone by the huevos and cryptos Bitcoin let coin aetherium Side-step all that that's why they're called peer to peer just you and another person doing a deal

[14:15] Back to the purest and cleanest form of capitalism, which really doesn't exist in any other market today Unless we're talking about bartering or rummage sales where you want to buy something and you hand over the dough No government or bank in between. Of course now the US IRS even taxes rummage sale dough Man, am I glad I don't live up there anymore Anyway, since most governments and banks hate Bitcoin and cryptocurrencies in general Since they know if peer-to-peer networks like that get too big it'll put them out of business Some governments have actually tried to outlaw the use of it though Some forward-thinking governments like Japan have embraced it completely. In fact, there are 250,000 different businesses in Japan that take Bitcoin and then you've got the seven or eight countries in the world out of around

[15:03] 200 countries that have banned Bitcoin completely. In other words, if you're caught using it, you could go to jail Can you guess which once they are number one China which did have the biggest Bitcoin Exchanges in the world at one time and everybody thought that might kill Bitcoin. It didn't Took a nice hit for a couple of weeks and most smart people said it was a time to buy on the dip and those Who did made a lot of money because it soon popped back and headed for the stratosphere same thing when that corrupt weasel Jamie Diamond said Bitcoin was a fraud. It took a big dip now They're buying opportunity and headed for the stratosphere again Meanwhile while that Halitosified maggot brain dickhead was making that statement people at JPMorgan Chase's own corrupt organization were buying on the dip behind his back Or perhaps that was the plan, but you knew that already, right?

[15:52] Anyway, the countries that have banned Bitcoin and crypto you've got China number two Morocco. Who cares? Number three Nepal, who cares number four? Bangladesh to bed such a lovely place Bangladesh number five Krizik Stan. Oh, what a shame. There goes that Bitcoin beach house purchase I was so hot on hell if you could even spell the place you deserve a free Bitcoin Number five and this should concern us Bolivia Yep in June of 2014 the Bolivian Central Bank Banned any coin or currencies that aren't regulated by the government. Well, that doesn't bode well for expats living in Bolivia But then again, they've got a tiny government and nearly half the economy does everything with cash

[16:39] So obviously there's very weak enforcement of laws Which still makes Bolivia a pretty good place for expats if you don't mind a heavy dose of Hugo Chavez style Socialism that is by the way when you use crypto currencies like Bitcoin or a theory and whatever How in the hell is the government gonna find out about it? Anyway, unless you're actually mining it and have equipment set up unless someone titles like a jealous neighbor pissed off xy for a mistress That's just not gonna happen unless you consistently burn out the neighborhood power transformer Otherwise, everything else is on the net in the ether. All right, there's one last country that's banned Bitcoin and cryptos Can you guess? Well, it's another nail in the coffin for Ecuador so Ecuador's government announced in July 2014 that they will be banning Bitcoin in all other digital currencies

[17:27] While that said they were gonna lay the framework for their own creation of new state-run crypto currencies In other words, the government can make its own crypto, but no one else can use theirs Let the games begin. Good luck with that. Like I said for expats Anyway, another nail in the coffin for Ecuador then there's Venezuela unofficially bitcoins sort of illegal At least it seems Bitcoin mining is since there's been a lot of arrests and raids lately on Bitcoin miners where the government mostly cops Will come in and confiscate the equipment and the Bitcoin miner and use him to mine Bitcoin for them Privately do using a cops or bureaucrats house. You've been hearing a lot of stories like that lately Alright moving on, you know, a lot of you listeners want to come down to my seminar

[18:14] But you don't have enough money your time. You can't work it into your schedule, whatever So I know many of you come down getting boots on the ground yourself now if you do that It's just fine Especially if you got a lot of time in your hands and a nose for exploring course You'll won't be drinking from the fire hose You won't get a head start on having your plan B here in Latin America But you will meet people and it will make you feel more comfortable the next time you come down That said I get a lot of people who do phone consultations with me You've heard me mention that before Every one of them of course working towards that plan B and in those phone calls and I've done hundreds of my help people out With their own plan B's give them lots of options and suggestions hook them up with people places and things they'd never find otherwise give them some of my personal contacts and such and many of my hookup with

[19:01] Expat concierge service because they can pinpoint and arrange ahead of time exactly what you're looking for doctors rentals the right neighborhoods schools insurance internet plans They'll even hook you up with gringles and expats with businesses contacts You might need when you come back down the next time it's true A lot of people come down do the boots on the ground thing there themselves after they listen to some of my shows sometimes A couple hundred of my shows and most when they do it that way on their own We'll do a couple phone consults with me For example Dave who just wrote this email so listen up what he says is Especially meaningful for those of you on a tight budget who can't exactly go first class and don't mind roughing it just a little bit Not backpacker style a couple of steps above that. I mean nobody wants to do that again

[19:49] You got to be nuts broke or a university student to wanna eat street food sleep in a fleabag hotel and share a bar of soap In a bathroom that's impregnated with pubic hairs that aren't yours. Yep. You gotta have standards in mine are a lot higher than that But again for those of you with a plan B You want to do it pretty much on the cheap, but don't want to do it backpacker style Listen to this email and again, I'll paraphrase skip around comment and skip the boring stuff. Here goes This is from Dave. He says dear Johnny. I arrived at the Guatemalan Airport, May 18 2017 it was the very first time I ever traveled outside the US in my 49 years of life I had arranged to live at a place you recommended an apartment in Lake Atitlan the most beautiful lake in the world and was able to hire a private driver to take me there from the airport as I was

[20:38] Nervous a nervous expat for sure I remember seeing Guatemala City all its traffic and how chaotic it was reminded me of a crappier version of New York City Alright me Johnny here again The lake at titlan regions are good three to four hours away from Guatemala City and when you're driving through Guatemala City You don't hit any of the real high-end wealthy neighborhoods So you see none of the good stuff all that's in the other direction towards El Salvador Then he says so as we travel to the lake region I got to see all the things you talk about such as top floors of houses not being completed rebar sticking out everywhere. I Was taken aback as we drove through chimal tenango as it just looks scummy So when we got to the lake I called the owner and we met at a gas station and we followed him to the apartment

[21:27] By the way, let me insert here that the person the gringo expat from Florida By the way, he too did a number of phone consultations with me and never came down to the seminar He came down with boots on the ground ended up in the lake region And his idea to make money was to build a couple of apartments for gringos and expats And that's why I hooked him up with Dave because I know the apartment owner and landlord From those phone consults and meeting him personally, etc. And I know he was a good guy and did things right Then Dave says I followed him to the apartments and this is where I freaked out I had to walk through a dirt path to get there along the way I saw wild dogs and shanty buildings and pile of garbage in places It reminded me of the south bronx in the 1970s

[22:12] It surely was culture shock if I had a way to be Helicoptered back to the airport ida left that same day However meeting the owner was the best thing for me here. Remember the owner's gringo expat from florida Perfect english and all that he helped me get acclimated and took me around to the stores that needed to go Even helped me buy a motorcycle I got to move to the top floor of his apartment the one that faces the lake. So my view was of three Magnificent dormant volcanoes. I stayed there for four months and got so acclimated to the area that I wanted to move to san Pedro which is a little town on the other side of the lake It wasn't until I moved that I realized how great my first apartment was with the expat from florida You see but one thing he's got whole house hot water with gas propane

[23:01] Which means I have hot water in both the kitchen and the bathroom sinks Not to mention the water pressure is great there, too Other things I took for granted were counter space and natural light The apartment I rented in san pedro has zero counter space a suicide shower. You know what that is, right? The wires hanging out and no hot water or pressure at the kitchen sink. Oh, yeah, you know what else? My first apartment had something that no one else has first world plumbing. Yes You can flush your toilet paper down the toilets in his apartment That was another culture shock for me when I first moved down Now i'm used to that and the suicide shower head, too By the way, what he's talking about is a point of use electric hot water head on the shower pretty ugly wires hanging out generally

[23:50] Unless of course, it's installed by a knowledgeable gringo Then it'll be nice and well odd looking but of course they do look odd But no noticeable electric wires wrapped around it are hanging out Now remember we're talking about pretty low budget here not backpacker style but not first world lads you and I are used to it And when he talks about not having hot water at the sinks Well, no middle or lower middle class latin house has hot running water in the house That's why they use those point of use shower head heaters. That's the only place there's hot water Then dave says as life would have it eventually I was dating one of the neighbors So I got to go back and take showers in that apartment and really got to make some comparisons I highly recommend that first place johnny that you told me about

[24:36] The apartment makes the transition easy and the owner's help makes assimilating very easy Now I consider him a friend and will stay in contact with him when I get back to florida at the end of january You see i'm a new grandfather and have to go back and deal with that. No You can imagine She's even been on jerry springer Oh man, you can't make this stuff up, huh? So anyway johnny, I want to thank you for recommending him to me as it made my time here Wonderful my original plan of staying here for six months while I saved money went to the wayside and I was basically on a long Term very nice vacation on I might add the most beautiful lake in the world

[25:23] I've even extended it by three months if I didn't have a grandchild. I probably would never leave Anyway, johnny. I hope to meet you sometime if you're ever in the area I was hoping to meet up with the next crop of your seminar attendees, but I may have ruined that Last time I met up with one of the expat concierge ladies and we met and I hate to say this johnny But I was so enamored with the anarchy of guatemala. I wound up helping a gringo get some weed in hindsight That was pretty dumb But I was so excited to be here and on a mental high So if you speak to your concierge lady, please tell her i'm sorry about that How was that a line and I know that oh and for your information johnny The owner you recommended is building another two-unit building and of course He's keeping it up to first world standards

[26:10] It's also in a better spot as the original one is right off the main street and it's kind of loud Sometimes because they're doing some construction and all the traffic moves through town and comes past that road Although the chicken buses blast by and honk horns at six in the morning I'm sure this will return to normal after the construction ends whenever that might be because you know here in latin america They're on manana time. Anyway, johnny. Thanks for everything the great advice the great hookup dave Signing off with sunrise and rebar here in san pedro right smack on the most beautiful lake in the world 6,000 feet above sea level with a million dollar view for 150 bucks a month All right There you have it from a guy who'd never been out of the us before Dave wanted to start his plan b on the cheap after doing just a few phone consults with me

[26:59] So I hooked him up by the way. I never met dave face to face We've only spoken over the phone and about that somewhat embarrassing little weed incident dave's referring to that's the first I heard of it Anyway, little by little they're legalizing it all over the place So who am I to judge though? The bottom line on that story is not about pot. It's about the fact We've got one happy camper living on the most beautiful lake in the world paying 160 bucks a month for a million dollar view. Hey, what's not to love about that? You got a plan b yourself What are you waiting for? This is the expat files living in latin america If you want me to help you out with your own plan b Just schedule a one-on-one consult send me an email the expat files at gmail.com

[27:45] And if you want to learn how to move forward with your own plan b from right up there in the states Go to www.expatplanb.com and check out my three videos. See ya nos vemos