07 The Drug Trader

The episode explores the intersection of cryptocurrency and illicit activities through an interview with "Jay," a drug delivery service owner and crypto enthusiast. Jay discusses his initial skepticism towards crypto, influenced by early encounters with Bitcoin in 2012, and his later adoption driven by the 2017 Bitcoin spike. He details his strategy of trading smaller coins and using margin, recounting a significant $50,000 loss due to a lost phone in Mexico. Jay also explains how he encourages his drug customers to use crypto by offering discounts, primarily for tax avoidance, and views crypto as an "economy of the people," similar to the weed industry, providing wealth opportunities outside traditional systems. He also touches upon using crypto to move large amounts of money and his plans to exit the drug business.