Craig Wright (AKA Satoshi Nakamoto: Creator of Bitcoin) Fireside Chat on BSV: Bitcoin for business クレイグ・ライト（さとしなかもと：ビットコインの作成者）BSVでのファイアサイドチャット：ビジネスのビットコイン。

On Monday evening October 21, 2019, I was lucky to hear Dr. Craig S. Wright, speak in person. It was at Tokyo American Club, in a small scale Fireside chat format with 65 people in attendance. He explained his thoughts on how and why he helped create Bitcoin, and where he wants to see it go in the future. I took some personal notes below to share some of the highlight points.

* Dr. Craig S. Wright started out as an Auditor with BDO. He saw many corporate entities that could bend rules slightly, and others that broke them totally.

* Craig was part of a small team that developed Bitcoin, and brought most of the audit and payment permanence to the project. At least 3 other creators seem to have been involved. US courts will resolve if as the last remaining member, he has full ownership rights to the Bitcoin legacy.

* Bitcoin is about transparency. It is not about anonymity for criminals. He wanted to help end corporate and criminal abuse of payment systems using cash.

* His first major personal surprise was how Bitcoin was abused from the start. He thought that a product like Marijuana in British Columbia, Canada, legal, but could not be banked, would be a perfect fit. 

* Sadly however, SilkRoad chose it as a platform for Heroin & Cocaine. What he consider as " pure poison for humanity". Not the best use case result that he had hoped for originally.

* Luckily though, Bitcoin use on the Blockchain can also be used for good, even when used by criminals. Over 357 people were recently arrested this month, in multiple locations all connected to a pedophile ring started in South Korea.

* He has 827 patents to date and 6500+ papers published. He would like to have at least 10,000 papers completed before retirement. The United States is under the notion that the “first to invent” will receive the patent, but in other countries, it is the “first to file” that will earn the patent. Realistically, international patents are a gamble because they are simply intended to intimidate infringers. 

* Electronic Data Interchange generates one trillion transactions a year. WalMart, and many other retailers will follow with more EDI in future. If Visa card charge 15-30 cents per transaction via EDI, why not compare these first world credit card charges to emerging countries?

* Why not minimize this and cut it down to a fraction of a cent via Bitcoin? The larger volume of transactions then possible, may help more underdeveloped economies more quickly. Especially those largely unbanked in Africa.

* Craig said he spent over AUD1.1M, then mortgaged his farm & house, and even went into further debt for over AUD1M by 2013. It has not been a smooth financial ride from the start. 

* He has strong views on a lot of subjects including economics. He feels that using GDP as an economic point is like using a machete to do fine surgery, so not good.

* He currently has found a limit of 340 transactions per second for BTC. His goal is to have 1 million transactions per second. 

* Compare this to Google which does 63,000+ searches per second right now. In the far future, he would like to see 1 billion transactions per second.  This will be years away.

* The ultimate scalability goal is to have 50 transactions, per second, for every person on planet earth. At 7 Billion people today, that is 350 Billion transactions per second. That is a very high number indeed.

The Top 3 Takeaways from this book that impact any reader are:

1) It was a very informative evening with a lot of facts & figures discussed. Surprisingly, very little mention of the new Bitcoin SV was really discussed in detail. Even though it was the title of the Fireside chat. I guess we will have to wait for details on "Satoshi's Vision" at another chat. 

2) I know that Craig claims to be the main driver of Bitcoin, but there was an odd point. If you write a paper, like "The White Paper" on Bitcoin, most true authors would say my paper, but Craig kept saying the paper.

3) I came away with the feeling that Craig certainly seems near the center of Bitcoin, but may not be the only center. However many really created the full code may not matter, if the others are no longer living. If Craig wins his US court case, and gets 1 Million BTC, now valued at US$7500 each, that would mean a fortune of US$7.5 Billion. Good luck to him!

Big shout out to Jerry David Chan, Regional Manager, Bitcoin Association for Japan & South Korea. I hope the Fireside Chat series continues. It was well organized and well attended. For more news and full background details about Satoshi's Vision: The Art of Bitcoin, go directly to Craig's website https://craigwright.net/

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance! 

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バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてください。ティエムジェィパートナーズをLinkedin Instagram またはTwitterでフォローしてください！ 世界中のTwitterで第1位のリクルーター、50,000以上のフォロワーを既に持っています！クリックしてください。

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.
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      Mark  Pink                               Shinichi Nagasawa
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Friday Feature Book Review: The 100 Rules of Money : by Richard Templar - できる人のお金の増やし方: (100のお金ルール) リチャード・テンプラー

This great international best seller is focused on "how to have a millionaire mindset". Imagine if George Soros or Richard Branson gave you financial advice as a personal mentor. Would they know patterns or behaviours that could help teach you to grow wealthy? My guess is yes, most likely. Happily, this is just one of over 8 books in the "Rule series" of international best selling books by the author.

The author Richard Templar, does a really splendid job of explaining his 100 rules for making more money, and building personal wealth. It will help any person to be in the right mental mindset. It will help you see clear income opportunities. Help you to understand them, and finally benefit from them financially. It is indeed a process. It may be unsaid, but it is clearly there.  

The entire list of lessons vary in importance, but many are outstanding, and really stand out. These 100 rules act as a wealth coach for anybody wanting to become more financially independent. Personal favorites include the ones that focus on how to control your emotions on personal spending habits as income grows. Wealth is not often helpful if not properly prepared for. If you fail to plan for higher wealth, your wealth once in place, may cause you to fail. 

Wealth should be a friend not an enemy (rule 8). He explains how unexpected large money decisions can be stressful without answers or action at the ready. Understanding the true relationship between money and happiness (rule 14) is not an easy one. Neither is the related wisdom on how money, if only seen as a solution, can often become the problem (rule 11).

The most difficult lessons involve discipline. It is harder to manage yourself than to manage your money (rule 18). Knowing where you are and having a clear plan (rule 19 & 20). Deciding your risk appetite (rule 24) are not easy decisions. In fact, your risk appetite can change over time along with your life cycle circumstances. You have to work hard early in order to make enough wealth to not work hard later (rule 29). 

The most basic rule is spend less than you earn (rule 36). The many get rich quick schemes are also to be avoided (rule 60) while borrowing money from friends (rule 86) gives a lot of insight into how to deal with such situations. With children, allowing kids to know about poverty as a motivator (rule 95), does have a very productive benefit. It is not really best to shelter children from it. Having direct participation with volunteering experiences, and meeting the homeless or poor who are directly helped by these volunteering efforts is important. It can help change them for the better, the kids who help when they are young, are able to best understand the full impact of their actions in any community service.

The Top 3 Takeaways from this book that impact any reader are:

1) Surprisingly, these very time tested lessons are not difficult to understand, they are just difficult to follow long term for most who read them.

2) Motivation seems to be a very strong driver for many actions needed long term to achieve wealth goals. The higher the motivation, the longer the time possible needed to achieve any goals.

3) Boot strapping startups with your own funds is fine, but when you also borrow funds from friends & family it can be negative. Too often, those same friends and family need to be paid back earlier than possible. There is often permanent friction with those relationships long term.

No matter what your income level, business owner or new employee, these 100 rules of money are all worth reviewing. It all helps in trying to build any future career and wealth plan. All of these rules are reasonable and need to be answered by each person individually. This is important in order to build a solid foundation for any person's financial wealth plan, no matter what the starting size. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or Twitter. We are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたがアジアや日本のセールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてください。ティエムジェィパートナーズをLinkedin Instagram またはTwitterでフォローしてください！ 世界中のTwitterで第1位のリクルーター、50,000以上のフォロワーを既に持っています！クリックしてください。

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.
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      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday Feature Book Review: Laughing at Wall Street (with 2800% stock returns!) by Chris Camillo ウォール街で笑います (2800％の株式リターン!) クリスカミッロ

The world of finance can be scary for some, and this book tries to erase that impression. The author Chris Camillo shows in his online trading statement between September 2007 and April 2010, He proves that professionals are not always needed. He turned his US$83,752 trading account into US$2,388,311 in under 3 years. That is a 28 fold increase on his capital! Every investor's dreamed about bottom line. Clearly, Bitcoin like dream results can exist with simple stocks too.

Results matter, and readers find out what basic observation methods he uses to make such amazing trading returns. This is not a highly skilled day trader with a cutting edge algo program. This is just an amature investor who pays attention to the consumer trends around him, and connects the dots to make big money returns. 

It all seems so simple, but the genius is in learning to recognize the patterns. We learn that he tried the usual route of following analysts on CNBC, Bloomberg or other media. He followed buy and sell reports of various analysts, but then changed. He learned to follow his own advice on insights to see the big trade early, before the analysts had it on any radar.

To be clear, the author is not usual, he is sharp and his personality is always on a hunt for market value. We learn that he enjoyed recycle markets, yards sales, tag sales, garage sales or whatever term you may use. He would get up early, and often notice that women were often in charge of pricing various items. Dolls, clothes and home items were often well priced, but male themed items often had a wider price range, an opportunity for a better price! 

So how does a man going off to yard sales make real money in markets? One single style, observation of the world around you. He often liked to drink ice tea, and Snapple was his favorite brand. At the time the brand was everywhere, and easy to find. One day he noticed that the shelf space at his local convenience store was no longer as wide in selection for his favorite beverage. In fact, it was only 20% of what it was before the change in shelf space. 

Could this be a sign of a peak in the Snapple brand's popularity? The stock price was still high, so he checked at various stores, all the same.  Less shelf space meant less sales, so earnings would disappoint, so he put on a short. That is the process on how he discovered his trades and made a killing. Always use information that you discover before the market. That simple action as a clear early mover is often an advantage. When you go to any store regularly, ask yourself "what has changed in selection?" Does this mean there could be an opportunity in a single stock?

The Top 3 Takeaways from this book that impact any reader are:

1) Surprisingly, there is a process that any individual can learn that will give an investor a personal edge. It comes down to observation not luck or insider information.

2) Like the Matrix movie series, you can see the world as it hopes, and rely on experts to pay financial fees to forever. Alternatively, you can see for yourself, and avoid paying fees forever after.

3) Social Media, Shopping Malls, local neighborhoods all contain the core basics of human behaviour. When you learn how to see, you can see market opportunities all around you everyday.

We learn about various other trades with a similar theme. Keep your eyes open and notice what people buy and sell, or throw away. Check out what is in your neighbour's garbage. It could give real market insight into what is popular now or is no longer. That informational mindset is what the author does a great job at explaining. Very well explained, and very easy to replicate with any product or service today or tomorrow. This is not a stock picking strategy that will be obsolete in a short time. You learn how to open your eyes and really see trading opportunities all around you. It can be a very profitable way of life. It can work long term, so it is Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or Twitter. We are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたがアジアや日本のセールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてください。ティエムジェィパートナーズをLinkedin Instagram またはTwitterでフォローしてください！ 世界中のTwitterで第1位のリクルーター、50,000以上のフォロワーを既に持っています！クリックしてください。

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.
Tokyo                                          Tokyo

      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday Feature Book Review: Jardine Matheson, Traders of the Far East (Hong Kong History): Robert Blake ジャーディンマセソン, 極東のトレーダーたち (香港の歴史)：ロバート・ブレイク

A long time ago I heard, "When Jardine Matheson does well, Hong Kong does well". This was a quote from over 100 years ago. What kind of legendary trading firm was this? I had no idea until I went to Hong Kong, for the first time in 1989. I saw its dominant head office building with its famous round windows 30 years ago. Impressive for sure, as I grew up reading James Clavell's Taipan, Noble House, even Shogun. To later learn that Jardine Matheson, was the original inspiration for these great stories attracted me instantly. I kept on reading into it and digging for more. Hong Kong protesters are in the news now, but has often been the center of political tensions.

This book is in fact, a history of the firm over time. It covers the origins(started in 1832 officially), its growth story, and historical background(first visit to Canton, China in 1802). It explains how after almost 200 years, it still thrives in the economies of Hong Kong and beyond. China trade with the UK really began with the importation of tea from China, but it was so popular, silver became scarce in the treasury of the UK. Another trade had to be found to help the imbalance and the first to fill this gap was opium. Due to the British Empire, India had great farms of opium at its disposal. This could be the perfect source to trade with China for the highly valued tea, and not deplete the UK treasury. 

Great trading houses were formed at the time, and Jardine Matheson, became one of the most dominant of all time. Opium was a morally difficult good, but did the job, so had to be considered a means to an end. When looking back at the trading volume into China over those early years, over 95% of trade was due to opium, not much else really mattered in global UK trade. By the 1880s, competition by many smaller rivals and the steamship made the business less profitable. It was then that a wide expansion took place across many new businesses now run actively today.

In the present day, Jardine Matheson runs many diverse businesses with over 50,000 employees around the world in  many countries generating over US$42 Billion in revenue annually. To say that this huge company has grown and been successful, is real classic British understatement. Hongkong Land was started in 1889, and is a key property developer that was an early spin off business for the group. It now runs over 5 million square feet of land (450,000 sqm) in the Central business and shopping district. Sir Paul Chater was the original founder in the business, along with William Keswick, a later Taipan. Chater House, Chater Road and many other buildings in the Central district of Hong Kong were named after him and are still used today. Within property, the Mandarin Hotel opened in Hong Kong as the first 5 star hotel in 1961 is also a key success for the company. Insurance, automotive, dairy and many other additional industries have all sprouted and flourished from this core company over time.

The Top 3 Takeaways from this book that impact any reader are:

1) Surprisingly, both William Jardine and James Matheson did not spend much of their lives in Asia or Hong Kong. They made their mark there, but both soon moved back to the UK, and grew the company from there.

2) The firm was a pioneer for trading and helped establish Hong Kong itself. However Dent & Company and later John Swire & Butterfield were fierce trading rivals at the time. Drama in business dealings of dubious natures was never in short supply.

3) The International Treaty of Nanking, and the two Opium wars left China in defeat. It left the UK with a strong Asian foothold in Hong Kong & Kowloon. All of these events were fully supported by the local head of Jardines, the "Taipan" as he was locally known.

It is curious to note that the Scottish roots to many of the top UK trading firms also influenced Japan. Jardines and Swires certainly are current today, but competitors have risen. Japanese trading houses like Marubeni, Itochu, Mitsui and of course Mitsubishi Trading all had strong Scottish influences during their global transformations. Mitsubishi Trading was driven in large part by the Scottish Samurai, Thomas Blake Glover. He originally joined Jardine Matheson in 1857 and went to Shanghai, China. He then went on to Nagasaki, Japan in 1859. 

After establishing Jardine Matheson in Japan, he went on to help Mitsubishi. His actions created JR Trains, Kirin Beer, and Mitsubishi Heavy Industries. He helped the founder of Mitsubishi group Yataro Iwasaki begin the company along with his brother Yanosuke Iwasaki, and all three were lifelong friends. Glover was in fact, the same person used as inspiration for Madame Butterfly. Glover was also the inspiration for James McFay, the core character of Gai-Jin by James Clavell. This book is highly recommended and very easy to read. It can be a bit dry in parts, so better taken in spurts for a few hours over a weekend or on a commute. Highly Recommended.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or Twitter. We are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたがアジアや日本のセールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてください。ティエムジェィパートナーズをLinkedin Instagram またはTwitterでフォローしてください！ 世界中のTwitterで第1位のリクルーター、50,000以上のフォロワーを既に持っています！クリックしてください。

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.
Tokyo                                          Tokyo

      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891