Well, you're right the performance is lacking a bit haha and in the future you might be able to attract more viewers if your video gets right to the trick, instead of making people scroll through five minutes of exposition for a thirty second effect.
The effect is based on a lot of older ideas, I haven't seen anything exactly like it but the overall concept has been around for a while. A couple specific tricks come to mind, but I can't tell you what they are without revealing the method for said tricks haha. Definitely an interesting application of old ideas. However, I'd say you should'nt make the phone appear in the wallet because it becomes much easier to figure out that the 'phone' isn't a phone at all. Also definitely watch your angles more, you flashed a few times.
