For someone who devotes much of his life to bitcoin and finance – and who has made a small fortune and lost it twice now – podcast writer Peter McCormack doesn’t seem to care much about the money.
“I’ve had a lot of money in my life many times,” says the 42-year-old on a call from his home in Bedford. “But the wealthiest time of my life was the most miserable. I had a company in London that earned over three million a year. Great team. Money in the bank, good salary.
“My marriage exploded and I wouldn’t have been in a worse place. Money didn’t make a difference. Even if I was really rich, I still had panic attacks and anxiety. I would still be miserable.”
McCormack is doing much better now, and the anxiety has long since subsided. He is looking fitter and healthier than he has been in years, having stopped drinking and riding his Peleton bike around digital courses for miles and miles while in lockdown.
It has also become one of the most popular encrypted podcast authors in the industry, with What bitcoin did It had 7.2 million downloads in total, including a record 569,000 times in January alone. As a true believer in the Bitcoin philosophy, he communicated with him transparently Finance online, Shows the company – including other podcast Defiance – to turn in $ 71,000 a month and $ 16,000 in earnings.
“We are not rich, we don’t have a flash car, we don’t have a big house. But we have everything we need. Everything else is like, more things.”
While still amassing piles of bitcoin, McCormack places a much higher value for his time and independence than he does in making money – the ability to do what he loves, when he loves, and spend his days doing the creative and satisfying work.
“Time is your most important resource,” he explains. “I wake up every day and decide what I want to do.” After we meet him, he’ll go out for a personal training session in the middle of the day, then maybe pick up the kids at 4 PM and hit the stores. (He has a 16-year-old son who lives with him and a 10-year-old daughter who shares custody for her.)
“I just do what I want – this is the best thing you can have, total control of your time. Will I exchange that for more money? No, I will not do that at all. I also really enjoy my work. I also love what I do. So I’m satisfied.” I mean, regardless of I have a good wife, I have everything I need in life, and money will not get me more of what I need. “
There is a host of contrasts apparent when it comes to McCormack. It is a big muscular bitcoin with Tats and a beard yet sees major benefits in yoga, meditation and vegetarianism.
It appeared like Bitcoin Maximum, but when it is Hosted discussion Between Blockstream’s Samson Mow and Ethereum’s Vitalik Buterin, he goes too far to try to be neutral and fair. Personally, he’s thoughtful and thoughtful, while on Twitter he’s aggressive, or a bit “pessimistic” as he describes it.
“I just filter people,” he says. “I just think Americans don’t understand humor.” McCormack says he also uses Twitter as a soundboard to work through his thoughts.
“People often say on Twitter Personal Not like my podcast – that’s because my podcast is me. My Twitter is just a tool. Twitter tool. “
I can’t resist: “You are a tool on Twitter?”
He laughs, “I’m definitely a tool on Twitter.”
Not left, right, or center
It is also difficult to define politically. Despite his sympathy for liberalizing cryptocurrencies, he can see arguments in favor of lockdowns, especially given that the UK has one of the worst death rates in the world. Describing himself as a socialist in his youth, he says he “went through a phase of being conservative” and now says he is It takes each issue based on its merits.
“This kind of relationship with people is because I’m conservative on some issues and I’m liberal on others. It’s just my way of thinking. I’m a little pessimistic because I see a lot of nonsense.”
He’s willing to change his mind, too. A year or two ago, he wrote on Twitter that he would likely vote for Trump if he were American. But by the end of Trump’s term, he had put A. A podcast series called Mayhem About the utter disaster that was his presidency. He says he was initially drawn to Trump as a loose cannon, defying the status quo and trying to drain the swamp.
“What I realized over time is that he is not a sufficiently stable or rational person to deal with the nuances. For example, there are problems with the media, but calling all media that does not agree with you is fake and then retweeting Breitbart’s articles, this is not Really honest attitude… when i started looking at me [former Treasury Secretary] Stephen Mnuchin I realized it didn’t drain the swamp, it did exactly the same. Now I realize it’s just a complete stupid. ”
Of course, this kind of attitude is disproportionate to eating red meat, guns and the bitcoin culture of freedom and says his anti-Trump stance has lost him as many as 500 followers a week. “What I realized is that there are a lot of secrets Bitcoin Trump fans. Now it seems that the people I thought were anarchist admired Trump. “
He attributes this to a distrust of institutions and the media, which enables seemingly rational people to believe conspiracy theories about the stolen elections. They were easily debunked. But people do not trust so much that they will believe any nonsense. “
A mini-music magazine mogul
McCormack got an early start in the media as a teenager, directing his own music with friends and attempting to whip it at concerts. He even recorded interviews with Korn, Pantera, Biohazard, and Skunk Anansie, but closed Mag after four cases due to workload.
When he started his Music Management course at University College Buckinghamshire Chilterns at the turn of the millennium, he thought of reviving it as a website. Unable to afford to buy a site, however, he spent the summer working in a bar during the day for £ 3 an hour and learned to build his own sites from a book at night.
It was a clever move, leading to contracts worth 1,000 pounds a week to build websites, and eventually to setting up his own web building, social media and marketing agency with a friend, McCormack and Morrison in 2007. Sales grew to reach 2.7 million pounds in 2007. The year is at its peak. “It did well, growing to 35-40 employees with a large office in Covent Garden,” he says.
Crash and Burn
But in 2014, his life was amazingly derailed. Three months after he married the mother of his two children, he discovered that she had been in love with his best friend for a year. “The breakup of my marriage was horrific,” he says. “I haven’t had another relationship since then and that was seven years ago.”
He experienced intense anxiety for two years after that – best described as feelings of existential dread and dread accompanied by panic attacks where you are sure you will die. “These panic attacks were horrific,” he says. “Like every time you think you are dying. Like once you collapsed on a tube, I thought I was dying:
“Any slight pain in your stomach feels like I have cancer. This is it. It was horrible, I had it for two to three years, really bad.”
Medicines will fix it
McCormack also fell into a rabbit pit from drinking heavily and Cocaine use. He first used Bitcoin to purchase drugs via Mail Order from Silk Road, and scanned reviews for quality equipment.
“It was Amazon Pharmaceutical and it was great. I remember being very excited when the package came in,” he says. One time a parcel arrived in the middle of the day, and he thought he’d just try a cheeky streak to see if that helped.
“I ended up doing it all, about three grams a day, and I was messy,” he says. He was taken to hospital in an ambulance, and his heart was beating at a speed of 200 beats per minute with a suspected heart attack. Fortunately, supraventricular tachycardia was the least dangerous that resulted from the next level of drug use.
But this was the rock bottom point he needed to change his life. He remembers lying in a hospital bed and thinking that he was married six months ago, was in charge of a company and that everything was fine.
“Now I didn’t get any of it. I’m basically a drug addict and an alcoholic, a terrible father and my company is falling apart. And yes, the company ended up, but then everything started to improve.”
“I cleaned my job right away.”
Reluctant to take medication, he asked his doctors for alternatives and suggested running, meditation, and yoga. So he got addicted to it instead and pretty well vegan.
“I ran a lot every day for a year, lost a lot of weight, and was in very good shape, running 40 miles a week,” he says. “Now I’m not worried, I mean, sometimes, maybe, once every six months, something happens but it’s so simple.”
His mother fell ill from cancer and volunteered at the hospital. While purchasing some hashish as a medicine on the Silk Road, he rediscovered Bitcoin.
“I was about to prepare for what I was going to do next in my life. Then bitcoin happened, it was just a strange chain of events.”
It was December 2016, and he invested £ 23,000 in bitcoin and cryptocurrencies over the following year which grew to $ 1.2 million during all-time highs and suddenly his fantasies seemed to be about buying the Bedford Town Football League and turning their fortunes around. Prominently possible.
He admits that his conversion to Bitcoin came simply because he was making a bank. “I was making a lot of money. That was really it. It was only when I started creating a podcast that I started going over the money side, and I was really excited about what that meant.”
Ice man ordering
Of course, everything collapsed in Crypto Winter and he ended up committing Maxi-blasphemy by selling most of his Bitcoins for his business. Unsurprisingly, he does not want to talk about any of this, after he was ruthlessly poached for an article he wrote about in Watchman.
In that regard, he also doesn’t want to discuss Satoshi’s attorney, Craig Wright, who is suing him for defamation, for fear of giving Wright’s attorney more ammunition. “I am suffocating them on purpose,” he says. “I’m fine. It’s just another thing on my to-do list that I have to think about every day.”
What Bitcoin did came about through his friendship with it Vegan Rich Roll Podcast, Whom he met as a vegan retreat in Italy. The first episode was released in November 2017 and he has recorded over 300 episodes now with everyone who’s anyone in the Bitcoin universe, from Brian Armstrong to Andreas Antonopolous and cypherpunk pioneer Whitfield Diffie. He stopped covering cryptocurrencies after feeling very sad to interview Peter Rison of Bitcoin Unlimited in April 2019.
McCormack also has more ambitions than just talking about cryptocurrencies, and it has branched out into other areas with him the challenge A podcast series, covering everything from the war on drugs, to the job opportunities of former inmates. He also narrated the fallout from a fatal accident in which The Ghost Inside participated in a podcast of 1,333 days and investigated Jesslyn Maxwell and Stephen Mnuchin.
“I think Bitcoin is great. But I have a creative curiosity to work on other ideas.” We have journalists and storytellers. And then you have this weird place in the middle where you can be a bit of the two.
“The series was, I think, one of the first great podcasts to do that. It was journalism, but it was also entertaining. I kind of like those things. I’m really drawn to doing that. You learn, trying to craft a story in a way that gets people to interact with it, I find A real challenge. “
The ultimate goal is to move towards filming documentaries, and he has made “mini documentaries” in Venezuela and Turkey Immediately before closing.
“I want to make movies,” he says. “I don’t know if I can jump into it. That’s the goal. That’s what I’ve always wanted to do, I can see a path to it – but it gets there.”