For someone who devotes so much of their life to Bitcoin and finance – and who has now made and lost small fortunes twice – podcaster Peter McCormack doesn’t seem to care that much about money.
“I’ve had a lot of money a couple of times in my life,” said the 42-year-old when he called from his home in Bedford. “But the richest time of my life was the most miserable. I had a company in London that had $ 3 million a year. Big team. Money in the bank, good salary, ”he says.
“My marriage has failed and I couldn’t have been in a worse place. Money made no difference. Even if I had been really rich, I would still have had panic attacks and fear. I would still have been unhappy.”
McCormack is in a much better place now and the fear has long since subsided. He looks fitter and healthier than he has for years after giving up drinking and riding his Peleton bike for miles on digital courses.
He is also one of the most famous and successful crypto podcasters in the industry What bitcoin did The show was downloaded a total of 7.2 million times, including a record of 569,000 in January alone. As a true follower of the Bitcoin philosophy, he reports transparently about his Finance onlineThis shows that the company – including its other podcast, Defiance – is making $ 71,000 monthly and making $ 16,000 in profit.
“We’re not rich, I don’t have a lightning-fast car, we don’t have a big house. But we have everything we need. Everything else is like more stuff.”
While he’s still amassing tons of Bitcoin, McCormack places a lot more emphasis on his time and independence than on making money – being able to do what he wants, when he wants, and spending his days doing creative and rewarding work spend.
“Time is like the most precious resource you have,” he explains. “I can wake up every day and choose what I want to do.” After our interview, he does a personal training session in the middle of the day, then he might pick up the kids at 4 p.m. and go to the stores. (He has a 16-year-old son who he lives with and a 10-year-old daughter who he shares custody of.)
“I just do what I want – and that’s the best you can have, complete control of your time. Would I exchange that for more money? No, I wouldn’t at all. I enjoy my job a lot too. Like I love what I’m allowed to do. So I am satisfied. I mean, besides having a good wife, I have everything I need in life and money is not going to get me any more of what I need. “
There are a number of obvious contradictions when it comes to McCormack. He’s a tall, muscular bitcoiner with tatts and a beard who still sees great benefits in yoga, meditation, and veganism.
He acts like a bitcoin maximalist, but when he does held a debate between Samson Mow of Blockstream and Vitalik Buterin of Ethereum, he did everything to be impartial and fair. Personally, he’s thoughtful and thoughtful, while being controversial on Twitter or a little “punchy” as he describes it.
“I’m teasing people right now,” he says. “I just think Americans don’t understand humor.” McCormack says he also uses Twitter as a sounding board to work through his ideas.
“People often say my twitter personality is not like my podcast – it’s because I am my podcast. My twitter is like a tool. Twitter is a tool. “
I can’t resist: “And are you a tool on Twitter?”
“I’m definitely a tool on Twitter,” he laughs.
Not left or right or in the middle
It is also difficult to grasp politically. Despite his crypto-libertarian sympathies, he can see the arguments for bans, especially considering the UK has one of the worst death rates in the world. A self-described socialist in his youth, he said he had “gone through a period where he was how conservative” and now says he is fair takes each issue for itself.
“That kind of F-s with people because I’m conservative on some issues and liberal on others. It’s just what I think. I’m a little bit crazy because I just see through a lot of shit.”
He is also ready to change his mind. A year or two ago, he tweeted that he would likely vote for Trump if he were American. But at the end of Trump’s tenure, he had one Podcast series called Chaos about what a disaster his presidency had been. He says he was originally attracted to Trump as a loose cannon, challenged the status quo and tried to drain the swamp.
“Over time, I realized that he wasn’t stable enough or rational enough to handle the nuance. For example, there are problems with the media, but to label any media that disagrees with you as fake and then retweeted Breitbart articles, this is not a truly honest position. When I started investigating [former Treasury Secretary] Steven Mnuchin I realized that it wasn’t draining the swamp, but doing exactly the same thing. And now I realize he’s just a complete idiot. ”
Of course, that kind of attitude doesn’t go well with red meat eating, guns, and the Bitcoiners’ freedom subculture, and he says his anti-Trump stance has lost him up to 500 followers a week. “I realized that there are many secrets Bitcoin Trump fans. People I thought were anarchists seem to be Trump fans now. “
He attributes it to a lack of trust in institutions and the media, which enables seemingly rational people to believe conspiracy theories about stolen elections. “They are so easy to expose. But people just distrust so much that they believe any nonsense.”
Mini Mogul music magazine
McCormack got an early start in the media as a teenager, putting out his own music fanzine with friends and trying to beat it up at concerts. He even scored interviews with Korn, Pantera, Biohazard, and Skunk Anansie, but closed the magazine after four issues due to the workload.
When he started a music management course at Buckinghamshire Chilterns University College around the turn of the millennium, he considered reviving it as a website. Unable to afford to buy a website, he spent a summer working £ 3 an hour in a pub during the day and learning to create his own websites from a book at night.
It was a smart move that resulted in £ 1,000 a week contracts building website and eventually founding his own web building, social media and marketing agency with a friend named McCormack and Morrison in 2007. Sales rose to £ 2.7 million a year at its peak. “It went pretty well and grew to 35 to 40 people with a large office in Covent Garden,” he says.
Crash and fire
But in 2014 his life took a spectacular turn. Three months after marrying the mother of his two children, he discovered that she had been having an affair with his best friend for a year. “My breakup from marriage was terrible,” he says. “I haven’t had another relationship since then and that was seven years ago.”
A few years later, he suffered from severe anxiety – best characterized by feelings of terror and existential fear combined with panic attacks that you are sure you will die. “These panic attacks were terrible,” he says. “Like every time you think you are dying. As if I collapsed on a tube, I thought I was going to die:
“With a little stomach ache, it’s like having cancer. That’s it. It was horrible, I had it pretty bad for two to three years.”
Drugs will fix it
McCormack also fell into a rabbit hole with heavy drinking and drinking Cocaine use. He first used Bitcoin to buy drugs by mail order from the Silk Road and scour reviews for the highest quality equipment.
“It was Amazon for drugs and it was brilliant. I remember being so excited when a package was coming, ”he says. Once a package arrived in the middle of the day and he thought he was just trying a naughty line to see if it was something good.
“I ended up doing the whole lot, about three grams a day, and I was a bloody mess,” he says. He was rushed to the hospital in an ambulance, his heart beating at 200 beats per minute when a heart attack was suspected. Fortunately, it was the much less severe supraventricular tachycardia that was caused by his next-level drug use.
But this was the low point he needed to change his life. He remembers lying in a hospital bed thinking that six months earlier he had been married, was in charge of a company, and everything had been great.
“And now I don’t get any of it. And I’m essentially a drug addict and an alcoholic, and a terrible father and my company collapse. And yes, in the end the company worked out, but then everything got better.”
“I cleaned up my plot immediately”
He didn’t want to take any medication and asked his doctors about alternatives. They suggested running, meditation, and yoga. So instead he got addicted to it and became a fair bit of vegan.
“I ran every day for a year, lost a lot of weight, was in great shape, and ran 40 miles a week,” he says. “Now I don’t get scared, I mean, very occasionally, maybe once every six months, something happens, but very slightly.”
His mother became very ill with cancer and he volunteered at her hospital. While buying their cannabis as a drug on the Silk Road, he rediscovered Bitcoin.
“I was about ready for what I was going to do next in life. And then Bitcoin happened, it was just a strange chain of events. “
That was in December 2016, and he plowed £ 23,000 into bitcoin and crypto over the course of the following year, which grew to $ 1.2 million during its all-time high. Suddenly, his fantasies of buying the Bedford Town football league and flipping its fortune seemed perfectly possible.
He admits that his switch to Bitcoin came about simply because he went bank. “I made a lot of money. It really was. It wasn’t until I started doing the podcast that I went over the money side and was really excited about what that meant. ”
The ice cream man is coming
Of course, everything collapsed in Crypto Winter and he eventually committed maxi blasphemy by selling most of his bitcoin for his business. Unsurprisingly, he doesn’t want to talk about any of this, as he has been mercilessly searched for an article in which he wrote about it The guard.
By the way, he doesn’t want to talk about Satoshi petitioner Craig Wright, who is suing him for defamation for fear of giving Wright’s lawyers more ammunition. “I purposely choke them,” 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 vegan podcaster rich rollthat he got to know vegan in Italy. The first episode came out in November 2017 and he has now recorded over 300 episodes featuring everyone who is someone in the Bitcoin world from Brian Armstrong to Andreas Antonopolous and the pioneering cypherpunk Whitfield Diffie. After interviewing Bitcoin Unlimited’s Peter Rizun in April 2019, he stopped reporting on altcoins.
McCormack has bigger ambitions than just talking about crypto, too, and has branched into other areas with his In spite of Podcast series that covers everything from the war on drugs to employment prospects for former inmates. He also told the story of a fatal crash with the band The Ghost Inside on the 1333 Days podcast and investigated Ghislaine Maxwell and Steven Mnuchin
“I think Bitcoin is great. But I’m just creatively curious to work on other ideas, ”he says. “We have journalists and storytellers. And then you have this weird place in the middle where you can be a little bit of both.
“I think Serial was one of the first great podcasts to do it. It was journalism, but it was also entertainment. I kind of like that stuff. I’m really drawn to it. You know, when I try to make a story so people get involved, I find a real challenge. “
The ultimate goal is to make documentaries, and he made a few “mini documentaries” in Venezuela and Turkey immediately before locking.
“I want to make films,” he says. “I don’t know if I can make the leap there. That’s the goal. It’s what I’ve always wanted to do, I can see a way there – but it will get there.”