Ducatus’ Chief Finance Officer, David Putnam, joins Ronny and shares his unconventional thoughts on digital money, Warren Buffet and Ducatus’ runaway advantage compared to other major players in the industry. David also gave his witty responses to pretty random questions. Watch it. #MondaysWithRonny
Today’s episode is all about money, something that I know you all care most about.
MONDAYS WITH RONNY
Today I would like you guys to meet David Putnam, the CFO of Ducatus Global, who also oversees the legal aspects of the company. Trust me, when it comes to cryptocurrencies and navigating the regulatory and financial systems, there is no better guy than him.
THOUGHTS ON THE CURRENT VALUATION OF MAJOR CRYPTOCURRENCIES
Towards the middle of last year, cryptocurrency started to enter into the mainstream and when a new asset class does that, it attracts what they call institutional money.
So professional investment money, big money starts to come into the sector and because there are so few good coins, because the liquidity and the volume in the market is so low, even just what was on institutional level a very very small amount of money comes into the market, it kicks the price way up and then inevitably people started taking profits and the same people who had decided this was the latest greatest thing and they had to be part of it, they all panicked, and they all headed for the door, and at that point, the price crashed.
Of course, we ended at a level that was five or six times the level we were when that whole movement started, but all people can think about is the price is down 75%, rather than the actual baseline where the price is up 500% but it is what the media make of it and a Bitcoin crisis is more newsworthy than Bitcoin still kind of interesting.
THE DUCATUS COIN ADVANTAGE
There are thousands of cryptocurrencies. 999 out of every thousand coins is gonna be famous for 15 minutes and then it’s gonna disappear. And the thing that makes us different is we are real, we’re a proper company, we have management, we have experience, we know what we’re doing, we use very good advisors, and we understand the importance of regulation, we understand the importance of good governance, of transparency, all of these things, all of the things which makes any company in any sector successful.
THOUGHTS ON WARREN BUFFET’S SCEPTICISM ABOUT CRYPTOCURRENCIES
Warren Buffett has said many things. One of the things he says a lot is that he never ever gets involved in something that he doesn’t understand. And my interpretation of his comment is very simply that he doesn’t understand cryptocurrency, he doesn’t understand what it is or what we’re trying to do. So he talks about cryptocurrency as an asset and that’s what cryptocurrency is but cryptocurrency is a currency, therefore, it is trying to do what other currencies are trying to do.
RONNY AS A LEADER
He’s a very genuine guy. He will not give you any bullshit. He will tell you what he wants, and how he wants it.
WHAT PEOPLE DON’T KNOW ABOUT RONNY
Okay, so the first thing, I mentioned it before, he is a terrible terrible person. That you need to remember.
The second thing, also very important, and not many people know this, he really really likes stuffed animals. And so I would like to announce a competition. I am willing to give 1000 Ducatus Coins to the first person who will present Ronny with a stuffed toy at an official Ducatus event.
But there are conditions.
Firstly, we need video evidence. That has to be captured on film.
The second thing is, the animal must be pink. It doesn’t have to be bright pink, but it does have to be pink.
And the third thing is we want the animal to be at least one meter tall so that it can show up in the video.
So if you can fulfil those three important conditions, and send me a video, the first person to do that will get a transfer to their Ducatus wallet of of 1000 Ducatus Coins within 24 hours.
HOW WILL YOU RESPOND?
Question: If you woke up and had 2,000 unread emails and could only answer 300 of them, how would you choose to answer?
David Putnam: The first one is, I check for Ronny’s emails because he’s the guy that can cause me most trouble.
Second one is I look for some of the blog postings which are often quite interesting and entertaining.
Question: A 7-year old asks you if Santa Claus is real. What would you say?
David Putnam: Two things – first one is yes, obviously, Santa Claus is real because how else do you get Christmas presents, and the second thing is, and not many people know this, Santa Claus accepts Ducatus Coins. That’s why he wears a red outfit.
Question: What is the best piece of advice about ICOs you’ve ever received?
David Putnam: Doyle Brunson, the famous poker player once said, if you look around the poker table and you can’t tell who is the sucker, then the sucker is you.
Question: If you could have dinner with someone from the past who would it be and why?
David Putnam: Easy answer. Who? Satoshi Nakamoto. And why? Because I want the transaction password to his Bitcoin wallet.
Question: Why are manhole covers round?
David Putnam: Two things. Firstly, the real answer is so they don’t fall down the hole because if they’re square they can fall down the hole. But the second thing is when I was at university in Beijing, they didn’t have working streetlights on most of the roads so when you’re riding along a road on your bicycle and you see a round black shape in the road, you go around it rather than across it.
And that’s it again for today. Thank you David for all your insights.
As usual, keep your comments coming via Twitter, Facebook or Instagram using the hashtag #MondaysWithRonny or send me an email at MondaysWithRonny@gmail.com.
Montage sind großartig, Ihr seid großartig.
Mondays are great, you are great.
And I would see you all of you again next week.
Ronny Tome is the CEO of Ducatus Global. Ducatus Global Pte Ltd is a Singapore-based company that is the administrative heart of the Group worldwide. Our globally distributed management team provides management and professional support for the whole Group. Centurion Global Limited, based in the Cayman Islands, is responsible for the production and global distribution of the coins through the Ducatus network. Additional group of companies in Dubai and Singapore are responsible for charity projects, education and training, e-commerce, franchise cafés, health, travel and property. For more information, visit https://ducatus.net