How Digital Currency Is Rewiring Our Money Mindset

It's Not About The Money

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21d ago 30:37

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Episode Overview

In this follow-up episode to last week's conversation with Natalie MacNeil, I explore the psychological and emotional shifts required as we move into the digital currency era. Rather than focusing on technical aspects, this episode addresses the deeper questions about trust, safety, and completely rewiring how our brains think about money.

Episode Highlights:

The Physical vs Digital Money Mindset

Our brains are hardwired to equate real money with tangible things we can hold and count
Why Brits love property investing: it's "bricks and mortar" compared to US generations who prefer renting
Digital currencies ask us to place value in mathematics and community consensus rather than government
The challenge of trusting numbers on a screen that exist in cloud-based systems
How our nervous system was designed to equate safety with things we can physically control

Understanding Digital Currencies Simply

Digital currencies as numbers stored on a huge shared computer network
Unlike bank account numbers controlled by one institution, these are verified by thousands of computers worldwide
Bitcoin as "digital gold" - limited in supply and designed to hold value
Ethereum as a digital platform for building applications and communities
The key difference: controlled by mathematics and community, not governments or banks

The Generational Divide

Personal story of 11-year-old son naturally gravitating toward digital wallets
How younger generations view money as naturally existing "on a phone"
Older clients who still prefer printed bank statements
The comfort level with digital currencies often depends on how one grew up with technology

The Great Trust Transfer

Examining where we've been placing our trust: banks as the "safe option"
The 2008 financial crisis and recent bank failures like Silicon Valley Bank
COVID money printing diluting the value of every pound in bank accounts
The psychological shift from "the bank will look after my money" to "I am my own bank"
Why trusting ourselves feels riskier than trusting institutions that have failed us

The Pearl Analogy from Gene Keys

Richard Rudd's symbolism of the pearl as feminine metaphor for prosperity
How pearls form from pressure and irritation, not perfection
Wealth coming from responding with grace to challenges rather than ease
Digital currencies as the "pearl" - transforming financial friction into something beautiful
Moving from hoarding for ourselves to community and shared values

Practical Steps for Building Confidence

Using AI to create personalised learning courses about digital currencies
Starting with 2-3% portfolio allocation to learn gradually
The challenge of getting advice from traditional financial advisors due to regulatory constraints
Beginning with small enough amounts to sleep at night but large enough to genuinely learn
Treating it like learning any new skill - expecting a gradual comfort-building process

Educational Resources

Creating AI prompts to build beginner's guides tailored to individual situations
Recommendation for Natalie McNeil's AI Dream Team course for entrepreneurs
Catherine's book "It's Not About the Money" as foundational mindset work
The Get Investing Course for beginner investors with 50% discount code INVEST50OFF2024

Final Thought

This transformation is about trust, not technology. We're living through one of the biggest shifts in how humans relate to money since moving away from the gold standard. The key is giving yourself permission to start learning gradually and allowing your nervous system time to adjust, just as it did with online banking.

Chapters

00:00 Rewiring Our Money Mindset

04:21 Understanding Digital Currencies

10:03 Generational Perspectives on Money

11:59 Trust and Financial Institutions

15:19 The Pearl Analogy: Transformation in Wealth

21:30 Practical Steps for Building Confidence

28:19 Trust Over Technology: A New Approach

Resources:

Get my FREE book 'It's Not About The Money'

Take the Money StoryTypes® Quiz

Come to our Wealth Awakening Retreat

Become a Certified Financial Coach

Discover how to screen your investment portfolio with an ethical lens

Explore the AI Dream Team Course (Please note we are an affiliate for this course which means we may earn an affiliate commission for any purchases) I have personally invested and completed this course to help me save hours of time in my business.

Download your AI Prompt Playbook

Listen to podcast episode: Understanding your deep resistance to success through the lens of Gene Keys

Get Investing with my course - Use code INVEST50OFF2024 for 50% off as a podcast listener.

341 episodes