Paul Hadden is an expert at Cryptocurrency. I first had the pleasure of meeting Paul in early 2017. I had heard all about Paul & Josh’s 2015-2016 mining project (which we get into) and after the large Bitcoin spike in Feb, it was time that I took it seriously too and got involved with Paul.
Paul first pitched a digital currency idea to Domain when he was at Fairfax in 2007. It wasn’t until 2012 that he was given the go ahead, being tasked with developing a similar concept. Paul saw advertising as currency which spurred this idea.
Paul has gone on to build several data centres mining a range of coins including Bitcoin, Ethereum, Litecoin, Dash & Sia. He has also focused on trading these Alt coins with a method that his the capital constantly growing. Paul now owns a part of every coin in the top 100 – ready for the unicorns that take off.
Hear Paul’s summary of early Bitcoin, mining tips, lessons learned, trading strategy, predictions for the future and plenty more.
For such a complicated topic, Paul tried to pack as much information as he could in the short time that we had. Paul is open to anyone contacting him to continue the conversation further too!
If you’re wondering what that slight noise is in the background, we took this opportunity to test out some new mining equipment, so I got to see Paul in action. Paul has definitely found his passion and is now adding value to many others with his knowledge and experience in the crypto world.
Please enjoy this conversation with Paul Hadden.
My Biggest Take-Aways
- The tech guys who got into Bitcoin from the very early days and became very wealthy were able to use that wealth to build better systems and alt coins and have advanced/ are advancing Cryptocurrency and the technology that surrounds it
- There is only going to be 21 million Bitcoin in total
- Every 14 days there is a difficulty adjustment to ensure that the transactions are being validates every 10 minutes
- If you want to get involved in mining, the first place to start is cloud hashing
- Paul believes that Bitcoin will be worth 6 figures in 2-5 years
- Ethereum does for computing what Bitcoin did for currency
- Have the biotin that you buy and hold separate to the Bitcoin that you trade with (or purchase alts to trade with)
- With the Australian dollar, if the Australian government makes a bad decision or some Australian companies do badly, that has a direct affect on the Australian dollar which affects everybody in Australia. But because Bitcoin’s global, it can both absorb and be enhanced by a lot of little actions from all the countries around the world
2:10 The first brush with digital currency
4:40 Why did digital currency make sense to you in 2007?
7:15 What are the platforms now replacing traditional media?
9:55 When Bitcoin started
14:25 How do you describe Bitcoin in a sentence
18:10 It takes $31 billion USD to counterfeit 1 Bitcoin
18:50 What is a Quantum computer?
22:50 Decentralised and the mining
28:05 How do we purchase a mining machine?
29:20 Paul’s first mining experience
33:40 How are you mining differently now to the first time?
36:30 Just how high is Bitcoin going to go?
39:00 What is an Alt coin?
44:30 How does one purchase a Bitcoin?
49:00 The Cryptocurrency stock exchanges
50:00 Paul’s trading strategy
55:50 The Big 5
- The first pitch to senior management re creating a digital currency in 2007
- Playing live in a band
- Receiving the mentorship and concept development program
- The first Bitcoin project including receiving investment from Josh Guiliani
59:40 What is your favourite quote?
‘I don’t pay my staff well because I have a lot of money, a have a lot of money because I pay my staff well’ – Robert Bosch
1:02:30 What are the best books & blog-posts that you’ve ever read?
A Brief History of Everything by Bill Bryson
The Art of War by Sun Tzu
1:05:25 Best Movies, TV Shows & Documentaries?
The War Against The War On Drugs
01:10:15 What are your predictions for your industry in the next 5 to 10 years?
Proliferation and integration
1:13:45 Did you achieve your goals that you set yourself over the last 12 months?
Yes. The kid’s still alive!
1:16:10 What goals have you set yourself over the next 12 months? Are there any that you’re willing share with us that we could help by keeping you accountable?
Building the foundation, branching out into managing crypto investments for other people.
One future goal: When I die, I want to be put in a pod and sent out into space.
If you set yourself an impossible task that you’re working towards, everything else kind of falls into place on your pathway to get there.
1:21:50 Who are you looking to connect with?
Anyone who is willing and interested to connect in the crypto space
1:25:10 Where can people reach you?
3:35 Solid State Hard Drives
7:40 Gary Vaynerchuk
10:45 $10,000 Bitcoin for 2 large pizzas
19:05 Justin Trudo’s explanation of Quantum computing
27:55 Ant Miner
30:20 Josh Giuliani
39:00 Alt coin
42:15 Smart contracts
44:55 BTC Markets
54:00 Tondo Digital
59:45 Robert Bosch
1:01:55 Dov Charney
1:02:10 American Apparel
1:02:10 Los Angeles Apparel
1:02:15 Start-Up Podcast by Gimlet
1:19:00 Elon Musk
This episode is brought to you by our good friends at Tondo Digital.