1 00:00:11,041 --> 00:00:11,708 Hi, Andy, 2 00:00:11,708 --> 00:00:12,916 welcome to Honest Money. 3 00:00:12,958 --> 00:00:14,166 Thanks for having me. 4 00:00:15,041 --> 00:00:16,250 Hello. 5 00:00:16,666 --> 00:00:17,833 I noticed recently 6 00:00:17,833 --> 00:00:19,083 you were on Sean's 7 00:00:19,083 --> 00:00:20,375 Good Day podcast. 8 00:00:20,833 --> 00:00:22,958 So anyone who's interested 9 00:00:22,958 --> 00:00:24,000 in getting to know more about 10 00:00:24,000 --> 00:00:25,416 you can watch that as well. 11 00:00:25,833 --> 00:00:27,666 But I wanted to start 12 00:00:27,666 --> 00:00:29,583 with your origin story. 13 00:00:29,625 --> 00:00:31,375 We met over Twitter 14 00:00:31,375 --> 00:00:33,666 and became friends and. 15 00:00:34,375 --> 00:00:35,500 Yeah, like you, 16 00:00:35,500 --> 00:00:37,083 just someone from Victoria 17 00:00:38,250 --> 00:00:39,333 who's in our community. 18 00:00:39,333 --> 00:00:39,875 And I found it 19 00:00:39,875 --> 00:00:40,625 very interesting 20 00:00:40,625 --> 00:00:41,416 that you haven't 21 00:00:41,416 --> 00:00:42,875 been to a Bush bash, 22 00:00:43,208 --> 00:00:44,500 which I'm going to roast you 23 00:00:44,500 --> 00:00:45,750 for during this session. 24 00:00:46,375 --> 00:00:49,000 And I don't know 25 00:00:49,000 --> 00:00:50,208 if you've also been to any 26 00:00:50,208 --> 00:00:51,458 of the local meetups 27 00:00:51,458 --> 00:00:52,625 in Melbourne. 28 00:00:52,916 --> 00:00:53,500 You know what? 29 00:00:53,500 --> 00:00:55,875 So, it's funny 30 00:00:55,875 --> 00:00:57,083 you say that and, 31 00:00:57,208 --> 00:00:59,875 I mean, I've, 32 00:00:59,875 --> 00:01:01,083 going back to, 33 00:01:01,333 --> 00:01:02,166 how I first 34 00:01:02,166 --> 00:01:03,083 got into Bitcoin. 35 00:01:04,125 --> 00:01:06,000 It was into 2014. 36 00:01:06,541 --> 00:01:07,541 So at the 37 00:01:07,541 --> 00:01:08,541 time we just come 38 00:01:08,541 --> 00:01:09,750 out of the GFC. 39 00:01:10,083 --> 00:01:11,416 I was probably working 40 00:01:11,416 --> 00:01:12,666 my second professional job, 41 00:01:13,583 --> 00:01:15,333 and, I was into, 42 00:01:15,375 --> 00:01:16,791 you know, training, lifting, 43 00:01:16,791 --> 00:01:17,708 eating, dieting, 44 00:01:17,708 --> 00:01:18,541 all that sort of stuff 45 00:01:18,541 --> 00:01:19,708 and had been since, 46 00:01:19,958 --> 00:01:21,416 you know, the mid 2000 47 00:01:21,416 --> 00:01:24,041 and had a lot of friends, 48 00:01:24,041 --> 00:01:25,625 that I would train with. 49 00:01:26,458 --> 00:01:27,125 And one of them 50 00:01:27,125 --> 00:01:28,375 was like me 51 00:01:28,375 --> 00:01:30,958 and into lifting 52 00:01:30,958 --> 00:01:33,375 and eating, 53 00:01:33,375 --> 00:01:36,708 and he was also into finance 54 00:01:36,708 --> 00:01:37,833 and accounting like myself. 55 00:01:37,833 --> 00:01:39,541 So I'd done a, 56 00:01:39,583 --> 00:01:41,041 bachelor's degree, 57 00:01:41,541 --> 00:01:42,416 in accounting 58 00:01:42,416 --> 00:01:44,583 and finance, 59 00:01:44,583 --> 00:01:46,208 and he, 60 00:01:47,000 --> 00:01:47,500 I was 61 00:01:47,500 --> 00:01:48,750 always under the impression 62 00:01:48,750 --> 00:01:50,291 that, you know, 63 00:01:50,291 --> 00:01:51,791 property was the way to go. 64 00:01:52,083 --> 00:01:53,833 I was saving for a deposit. 65 00:01:53,833 --> 00:01:55,083 I hadn't actually, you know, 66 00:01:55,375 --> 00:01:56,583 owned anything, 67 00:01:56,916 --> 00:01:58,000 and I was saving. 68 00:01:58,000 --> 00:01:59,333 And as any, you know, 69 00:01:59,416 --> 00:02:01,000 B20 sort of person, 70 00:02:01,291 --> 00:02:02,833 even now, 71 00:02:02,833 --> 00:02:04,375 I guess, go through 72 00:02:04,375 --> 00:02:04,750 is you 73 00:02:04,750 --> 00:02:06,208 kind of go through that cycle 74 00:02:06,208 --> 00:02:07,500 where you try and save enough 75 00:02:07,500 --> 00:02:08,708 for a deposit to live. 76 00:02:09,458 --> 00:02:10,291 It just gets 77 00:02:10,291 --> 00:02:11,458 really, really difficult. 78 00:02:12,416 --> 00:02:13,625 So he 79 00:02:13,791 --> 00:02:15,041 I remember he was emailing me 80 00:02:15,041 --> 00:02:15,958 one day during the day 81 00:02:15,958 --> 00:02:17,375 and he mentioned to me 82 00:02:17,375 --> 00:02:18,333 that, there's 83 00:02:18,333 --> 00:02:19,500 this thing called bitcoin. 84 00:02:19,958 --> 00:02:22,625 And to buy it, 85 00:02:22,625 --> 00:02:24,000 and it's going to be 86 00:02:24,000 --> 00:02:25,291 the coin of the future. 87 00:02:25,791 --> 00:02:27,666 Well, I guess 88 00:02:27,666 --> 00:02:28,291 at the time 89 00:02:28,291 --> 00:02:28,791 there was probably 90 00:02:28,791 --> 00:02:30,000 a handful of coins. 91 00:02:31,500 --> 00:02:32,458 I remember 92 00:02:32,458 --> 00:02:33,375 choosing from was 93 00:02:33,375 --> 00:02:35,416 between Bitcoin and Litecoin. 94 00:02:35,708 --> 00:02:36,458 They were the two 95 00:02:36,458 --> 00:02:37,791 that sort of stuck out to me. 96 00:02:38,333 --> 00:02:39,125 And he told me 97 00:02:39,125 --> 00:02:40,333 just to buy one of them 98 00:02:40,541 --> 00:02:42,041 as one of them will take off. 99 00:02:42,041 --> 00:02:43,250 And it's the coin 100 00:02:43,250 --> 00:02:43,958 of the future. 101 00:02:43,958 --> 00:02:46,583 So, so I did 102 00:02:46,666 --> 00:02:47,541 I bought Bitcoin, 103 00:02:47,541 --> 00:02:49,500 and luckily, in hindsight, 104 00:02:49,833 --> 00:02:51,333 but why I bought 105 00:02:51,333 --> 00:02:52,500 Bitcoin was, 106 00:02:52,708 --> 00:02:53,500 just 107 00:02:53,500 --> 00:02:55,208 on a whim, on his advice. 108 00:02:55,250 --> 00:02:56,833 Now he was someone who was 109 00:02:57,291 --> 00:02:58,208 definitely not 110 00:02:58,208 --> 00:02:58,833 someone that was 111 00:02:58,833 --> 00:02:59,416 into property. 112 00:02:59,416 --> 00:03:01,625 He was always anti property, 113 00:03:02,041 --> 00:03:03,250 if anything. 114 00:03:03,250 --> 00:03:04,416 And he was renting 115 00:03:04,416 --> 00:03:05,750 in the CBD. 116 00:03:07,083 --> 00:03:09,000 So for him it was 117 00:03:09,000 --> 00:03:09,541 kind of, 118 00:03:09,541 --> 00:03:11,041 honestly at the time, 119 00:03:11,416 --> 00:03:12,333 I don't know 120 00:03:12,333 --> 00:03:13,625 if he had done his research 121 00:03:13,625 --> 00:03:14,791 or anything like that, but, 122 00:03:15,208 --> 00:03:16,750 he saw it as a good thing. 123 00:03:16,750 --> 00:03:18,500 And that was kind of 124 00:03:18,541 --> 00:03:20,000 I kind of respected him, 125 00:03:20,458 --> 00:03:21,750 as a person 126 00:03:21,750 --> 00:03:23,458 and as, 127 00:03:23,750 --> 00:03:24,916 you know, someone in 128 00:03:24,916 --> 00:03:26,125 finance. 129 00:03:26,333 --> 00:03:27,000 Yeah. 130 00:03:27,000 --> 00:03:28,208 I mean, I bought 131 00:03:29,458 --> 00:03:30,333 some coins 132 00:03:30,333 --> 00:03:31,708 at the time, 133 00:03:32,750 --> 00:03:33,208 yeah. 134 00:03:33,208 --> 00:03:35,791 And then I just kept buying, 135 00:03:35,791 --> 00:03:37,333 I guess I've been in Bitcoin 136 00:03:37,333 --> 00:03:38,666 for 11 years now, 137 00:03:38,666 --> 00:03:39,916 and I haven't 138 00:03:39,916 --> 00:03:41,125 gone to any meetups. 139 00:03:41,250 --> 00:03:42,625 I haven't been active. 140 00:03:43,916 --> 00:03:45,500 It's ridiculous, I know. 141 00:03:46,083 --> 00:03:46,833 In fact, 142 00:03:46,833 --> 00:03:48,041 I've only been on 143 00:03:48,250 --> 00:03:49,458 the Twitter slash 144 00:03:49,500 --> 00:03:52,791 X community since, 145 00:03:52,791 --> 00:03:55,208 I think probably, 146 00:03:55,208 --> 00:03:56,833 early mid last 147 00:03:56,875 --> 00:03:58,083 year, you. 148 00:03:58,583 --> 00:03:59,625 So yeah, 149 00:03:59,625 --> 00:04:00,083 I think 150 00:04:00,083 --> 00:04:01,333 I had a Twitter account 151 00:04:01,333 --> 00:04:03,458 back in back during Covid. 152 00:04:03,458 --> 00:04:04,625 I signed up, 153 00:04:04,625 --> 00:04:05,583 but for some reason 154 00:04:05,583 --> 00:04:06,375 I was banned. 155 00:04:06,375 --> 00:04:06,833 I like 156 00:04:06,833 --> 00:04:07,125 I never 157 00:04:07,125 --> 00:04:08,375 actually haven't commented 158 00:04:08,375 --> 00:04:10,041 nothing, but I was banned 159 00:04:10,041 --> 00:04:11,750 and I didn't like 160 00:04:11,750 --> 00:04:12,958 I couldn't use my account, 161 00:04:13,166 --> 00:04:14,916 so I just never went on, 162 00:04:15,291 --> 00:04:17,125 which is which is a shame. 163 00:04:17,166 --> 00:04:18,333 I would have met, 164 00:04:18,500 --> 00:04:19,416 a lot 165 00:04:19,416 --> 00:04:20,958 more people a lot sooner, 166 00:04:21,125 --> 00:04:22,291 during my journey. 167 00:04:22,291 --> 00:04:24,875 So, Yeah, it's it's 168 00:04:24,875 --> 00:04:26,166 it's it's quite funny, but 169 00:04:26,458 --> 00:04:27,666 like, like I've told you, 170 00:04:27,666 --> 00:04:28,708 I'm looking to 171 00:04:28,708 --> 00:04:30,291 to change it and sort of 172 00:04:30,291 --> 00:04:30,791 get myself 173 00:04:30,791 --> 00:04:31,458 out there a little bit 174 00:04:31,458 --> 00:04:32,708 more and make the people. 175 00:04:32,750 --> 00:04:33,000 It's. 176 00:04:33,000 --> 00:04:33,291 I think 177 00:04:33,291 --> 00:04:34,500 the community is actually, 178 00:04:34,916 --> 00:04:37,041 yeah, it's great community. 179 00:04:37,041 --> 00:04:37,416 It's one of the 180 00:04:37,416 --> 00:04:38,375 best communities 181 00:04:38,375 --> 00:04:39,541 I'll be part of. 182 00:04:39,708 --> 00:04:40,541 I'll be part of the 183 00:04:40,541 --> 00:04:41,458 lifting community. 184 00:04:42,625 --> 00:04:43,083 That's very 185 00:04:43,083 --> 00:04:44,791 segregationist, I guess. 186 00:04:45,250 --> 00:04:46,333 And I can 187 00:04:46,333 --> 00:04:47,583 you can assume that, 188 00:04:47,583 --> 00:04:47,958 you know, 189 00:04:47,958 --> 00:04:48,958 or you could say that 190 00:04:48,958 --> 00:04:50,166 the cryptocurrency 191 00:04:50,541 --> 00:04:51,000 space 192 00:04:51,000 --> 00:04:52,583 is also very segregationist, 193 00:04:52,583 --> 00:04:54,000 but I kind of don't really 194 00:04:54,000 --> 00:04:54,458 look at that. 195 00:04:54,458 --> 00:04:55,083 I just look at the 196 00:04:55,083 --> 00:04:56,375 Bitcoin community, which. 197 00:04:56,833 --> 00:04:58,083 Yeah, from the surface 198 00:04:58,083 --> 00:04:59,958 it looks very wholesome and 199 00:05:00,416 --> 00:05:01,291 and fun. 200 00:05:01,291 --> 00:05:02,500 But, 201 00:05:02,958 --> 00:05:04,333 but yeah like I do join 202 00:05:04,416 --> 00:05:05,625 Twitter spaces. 203 00:05:06,750 --> 00:05:08,333 But like I do join 204 00:05:08,458 --> 00:05:09,875 a few of them Aussie ones. 205 00:05:09,875 --> 00:05:10,208 I join 206 00:05:10,208 --> 00:05:11,541 a lot of the American ones. 207 00:05:11,833 --> 00:05:12,916 It's great, 208 00:05:12,916 --> 00:05:13,375 I love it, 209 00:05:13,375 --> 00:05:13,583 and I 210 00:05:13,583 --> 00:05:14,625 just love talking 211 00:05:14,625 --> 00:05:15,250 about Bitcoin. 212 00:05:15,250 --> 00:05:16,458 As you can tell. 213 00:05:17,541 --> 00:05:18,750 I will tell. 214 00:05:19,875 --> 00:05:20,583 Do you talk about 215 00:05:20,583 --> 00:05:21,750 Bitcoin at your work? 216 00:05:22,958 --> 00:05:24,166 Look. 217 00:05:26,208 --> 00:05:27,125 It's a good question. 218 00:05:27,125 --> 00:05:28,291 It's a good question. 219 00:05:28,541 --> 00:05:30,208 Can I just like 220 00:05:30,208 --> 00:05:31,041 sometimes I kind 221 00:05:31,041 --> 00:05:35,166 of remove myself from from, 222 00:05:35,666 --> 00:05:37,083 I don't know, from my lens. 223 00:05:37,500 --> 00:05:38,166 And I look at it 224 00:05:38,166 --> 00:05:39,541 from someone else's lens, 225 00:05:39,958 --> 00:05:41,708 and I feel like 226 00:05:42,208 --> 00:05:43,333 you can come across 227 00:05:43,333 --> 00:05:44,791 as very preachy. 228 00:05:45,333 --> 00:05:46,833 You can come across it. 229 00:05:47,500 --> 00:05:48,750 You know, people often 230 00:05:49,041 --> 00:05:50,041 don't like a Jehovah's 231 00:05:50,041 --> 00:05:50,791 Witness to come 232 00:05:50,791 --> 00:05:52,000 knocking on their front door. 233 00:05:52,083 --> 00:05:53,375 I kind of feel like 234 00:05:53,375 --> 00:05:54,125 sometimes it's 235 00:05:54,125 --> 00:05:55,333 a bit like that. 236 00:05:55,333 --> 00:05:55,833 So 237 00:05:56,916 --> 00:05:58,333 people know I love Bitcoin at 238 00:05:58,333 --> 00:05:58,708 work, 239 00:05:58,708 --> 00:05:59,375 especially my 240 00:05:59,375 --> 00:06:00,625 immediate work colleagues. 241 00:06:00,958 --> 00:06:02,583 So I'll only talk about it 242 00:06:02,583 --> 00:06:03,666 when they talk about it. 243 00:06:03,666 --> 00:06:04,750 Right? 244 00:06:04,750 --> 00:06:07,083 Or I'll, 245 00:06:07,083 --> 00:06:08,458 I'll try and legitimize 246 00:06:08,458 --> 00:06:09,125 it somehow. 247 00:06:09,125 --> 00:06:10,208 Like for example, it's 248 00:06:10,208 --> 00:06:11,083 it might 249 00:06:11,083 --> 00:06:12,291 it's a bias in itself. 250 00:06:12,625 --> 00:06:14,250 So that kind of gets 251 00:06:14,250 --> 00:06:15,458 people thinking, oh, 252 00:06:16,458 --> 00:06:16,916 you know, 253 00:06:16,916 --> 00:06:17,750 they, they, 254 00:06:17,750 --> 00:06:19,416 they associate stupa 255 00:06:19,625 --> 00:06:20,833 as being a legitimate 256 00:06:21,125 --> 00:06:23,375 way to, or, 257 00:06:23,458 --> 00:06:25,250 fund for your retirement, 258 00:06:25,875 --> 00:06:26,625 you combining it 259 00:06:26,625 --> 00:06:27,833 with Bitcoin, 260 00:06:27,958 --> 00:06:29,375 it sort of sort of sparks 261 00:06:29,375 --> 00:06:29,833 their interest. 262 00:06:29,833 --> 00:06:31,291 And they do ask questions. 263 00:06:32,500 --> 00:06:33,333 Yeah. 264 00:06:33,333 --> 00:06:34,166 And obviously 265 00:06:34,166 --> 00:06:35,583 the majority of the people 266 00:06:35,583 --> 00:06:36,791 think of it as, 267 00:06:38,750 --> 00:06:40,416 as just a trading 268 00:06:40,416 --> 00:06:41,625 cryptocurrency 269 00:06:41,916 --> 00:06:43,166 degenerate sort of, 270 00:06:43,625 --> 00:06:44,958 tool 271 00:06:44,958 --> 00:06:46,166 to make money. 272 00:06:46,250 --> 00:06:47,458 273 00:06:47,541 --> 00:06:48,750 I do like, yeah. 274 00:06:49,291 --> 00:06:49,833 Like sometimes 275 00:06:49,833 --> 00:06:51,541 I might wear a polo 276 00:06:51,541 --> 00:06:52,833 with a little logo on a 277 00:06:52,833 --> 00:06:54,041 or I'll get, like, 278 00:06:54,041 --> 00:06:55,208 one of my miners 279 00:06:55,208 --> 00:06:56,500 sent to the office. 280 00:06:56,500 --> 00:06:57,208 And a lot of people, 281 00:06:57,208 --> 00:06:57,958 I'll just have it 282 00:06:57,958 --> 00:06:59,166 sitting on my desk 283 00:06:59,333 --> 00:07:00,541 and it invites people. 284 00:07:01,166 --> 00:07:03,333 So it's not me going out 285 00:07:03,333 --> 00:07:04,458 and telling them about it. 286 00:07:04,458 --> 00:07:05,333 Invite them 287 00:07:05,333 --> 00:07:06,541 to talk to me about it. 288 00:07:06,541 --> 00:07:06,750 And I 289 00:07:06,750 --> 00:07:08,125 found it very effective. 290 00:07:08,125 --> 00:07:08,708 So, 291 00:07:10,083 --> 00:07:10,416 I will 292 00:07:10,416 --> 00:07:11,583 keep doing it that way. 293 00:07:11,666 --> 00:07:12,958 Until Bitcoin. 294 00:07:13,333 --> 00:07:14,208 You know what's funny? 295 00:07:14,208 --> 00:07:16,250 Because Bitcoin recently 296 00:07:16,291 --> 00:07:17,708 has hit the mainstream news 297 00:07:18,041 --> 00:07:19,291 and people come to me 298 00:07:19,291 --> 00:07:20,500 to talk about it, 299 00:07:20,708 --> 00:07:21,541 you know, 300 00:07:21,541 --> 00:07:22,791 so and half the time 301 00:07:22,791 --> 00:07:23,333 because I don't 302 00:07:23,333 --> 00:07:26,250 read much of the news 303 00:07:26,250 --> 00:07:28,416 they're showing me articles 304 00:07:28,416 --> 00:07:29,750 that I've never seen before. 305 00:07:30,125 --> 00:07:31,500 So but to me the 306 00:07:31,541 --> 00:07:32,250 the articles are 307 00:07:32,250 --> 00:07:33,125 not a surprise. 308 00:07:33,125 --> 00:07:34,500 I know Bitcoin's inevitable, 309 00:07:34,625 --> 00:07:35,708 but to these people it's 310 00:07:35,708 --> 00:07:37,125 kind of like, yeah, 311 00:07:37,500 --> 00:07:38,416 oh it's it's over 312 00:07:38,416 --> 00:07:39,833 100 K now us 313 00:07:40,541 --> 00:07:41,166 what's this? 314 00:07:41,166 --> 00:07:42,000 What's going on? 315 00:07:42,000 --> 00:07:43,291 And yeah, it's, 316 00:07:43,291 --> 00:07:44,291 it's it's 317 00:07:44,291 --> 00:07:45,291 gotten to that stage 318 00:07:45,291 --> 00:07:46,125 where people come to me 319 00:07:46,125 --> 00:07:47,000 and talk about it. 320 00:07:47,000 --> 00:07:48,000 And I prefer that 321 00:07:48,000 --> 00:07:49,208 to be honest. So. 322 00:07:49,500 --> 00:07:50,708 So yeah. 323 00:07:50,916 --> 00:07:51,500 Yeah. 324 00:07:51,500 --> 00:07:53,708 Compared to previous cycles, 325 00:07:53,708 --> 00:07:54,416 how do you feel 326 00:07:54,416 --> 00:07:55,625 this cycle like 327 00:07:56,083 --> 00:07:57,125 obviously you've been in it 328 00:07:57,125 --> 00:07:58,291 for a while. 329 00:07:58,291 --> 00:07:59,541 I find being 330 00:07:59,541 --> 00:08:00,458 part of the community 331 00:08:00,458 --> 00:08:01,208 so important 332 00:08:01,208 --> 00:08:02,375 because every time 333 00:08:02,583 --> 00:08:03,875 I get emotional 334 00:08:03,875 --> 00:08:04,625 or I'm not sure 335 00:08:04,625 --> 00:08:05,250 about something, 336 00:08:05,250 --> 00:08:06,833 I can always ask 337 00:08:06,833 --> 00:08:07,666 someone who's been in it 338 00:08:07,666 --> 00:08:08,291 for longer. 339 00:08:08,291 --> 00:08:10,208 And sometimes I find that I, 340 00:08:10,833 --> 00:08:11,583 I have moments 341 00:08:11,583 --> 00:08:12,791 where I'm like, is 342 00:08:12,791 --> 00:08:13,291 this really 343 00:08:13,291 --> 00:08:14,583 like going to work out? 344 00:08:14,583 --> 00:08:15,541 Are there any risks 345 00:08:15,541 --> 00:08:16,333 that I'm forgetting? 346 00:08:16,333 --> 00:08:16,708 And then 347 00:08:16,708 --> 00:08:17,625 I just have to, like, 348 00:08:17,625 --> 00:08:19,041 sit down with myself 349 00:08:19,041 --> 00:08:19,583 and remember 350 00:08:19,583 --> 00:08:20,791 just how fiat works 351 00:08:20,833 --> 00:08:21,916 and how bitcoin works? 352 00:08:21,916 --> 00:08:23,166 I'm like, oh yeah, I'm safe. 353 00:08:23,166 --> 00:08:24,333 Like I'm good. 354 00:08:24,875 --> 00:08:25,625 But like, 355 00:08:25,625 --> 00:08:26,875 how do you think 356 00:08:26,875 --> 00:08:28,375 this cycle is compared to 357 00:08:28,375 --> 00:08:29,250 others? 358 00:08:29,250 --> 00:08:29,666 Are more 359 00:08:29,666 --> 00:08:30,625 people are interested 360 00:08:30,625 --> 00:08:31,833 or you think it's quieter? 361 00:08:33,250 --> 00:08:34,416 It's definitely quiet. 362 00:08:34,416 --> 00:08:35,750 It's definitely quiet. 363 00:08:36,208 --> 00:08:37,666 We don't have that same, 364 00:08:38,208 --> 00:08:40,083 parabola 365 00:08:40,083 --> 00:08:42,333 as, the 2021, 366 00:08:42,875 --> 00:08:45,000 or the around 367 00:08:45,000 --> 00:08:46,958 that 2017, 2018 368 00:08:47,208 --> 00:08:48,416 cycle. 369 00:08:49,000 --> 00:08:49,583 I mean, 20 370 00:08:49,583 --> 00:08:51,125 when I first bought 2014, 371 00:08:51,125 --> 00:08:52,333 it was just like 372 00:08:52,875 --> 00:08:53,208 I remember 373 00:08:53,208 --> 00:08:55,125 I was buying for $500 374 00:08:55,125 --> 00:08:56,416 Australia at the time, 375 00:08:56,416 --> 00:08:58,000 and it was just like bubbling 376 00:08:58,000 --> 00:08:59,833 and it went down to half 377 00:08:59,833 --> 00:09:01,208 that went up a little bit 378 00:09:01,625 --> 00:09:03,791 and it was sort of a nothing, 379 00:09:03,791 --> 00:09:04,625 and obviously 380 00:09:04,625 --> 00:09:05,500 there was no money in it. 381 00:09:05,500 --> 00:09:06,875 So it was very different. 382 00:09:07,375 --> 00:09:08,166 To really compare 383 00:09:08,166 --> 00:09:09,583 that cycle to today, 384 00:09:09,625 --> 00:09:11,375 I'd say today 385 00:09:11,375 --> 00:09:12,000 you can sort of 386 00:09:12,000 --> 00:09:13,625 compare it to the Covid 2020 387 00:09:13,625 --> 00:09:14,833 or 2021 sort 388 00:09:14,833 --> 00:09:16,208 of, area. 389 00:09:16,208 --> 00:09:17,375 But it's funny because, 390 00:09:17,583 --> 00:09:18,666 only August 391 00:09:18,666 --> 00:09:19,958 last year we were at we, 392 00:09:19,958 --> 00:09:21,750 I think we bought him that 57 393 00:09:21,750 --> 00:09:22,958 cake with the Japanese. 394 00:09:22,958 --> 00:09:23,916 And Kari tried 395 00:09:23,916 --> 00:09:25,083 and it was so much fear 396 00:09:25,083 --> 00:09:26,250 in the market. 397 00:09:26,583 --> 00:09:27,041 I mean, we'd 398 00:09:27,041 --> 00:09:28,541 hit a high end around that. 399 00:09:28,875 --> 00:09:29,875 I think it was Feb, 400 00:09:29,875 --> 00:09:31,875 March, April area when we 401 00:09:32,958 --> 00:09:34,250 low 70s, I think it was. 402 00:09:34,750 --> 00:09:35,125 And then we 403 00:09:35,125 --> 00:09:36,416 dropped down to 57. 404 00:09:36,416 --> 00:09:37,625 I mean, where, 405 00:09:38,000 --> 00:09:38,916 where, you know, 406 00:09:38,916 --> 00:09:40,416 we hit 120 4k 407 00:09:40,416 --> 00:09:41,125 and we're currently 408 00:09:41,125 --> 00:09:42,000 at about 107 409 00:09:42,000 --> 00:09:43,208 and a half came out. 410 00:09:43,541 --> 00:09:45,541 We were more 411 00:09:45,541 --> 00:09:46,708 than, you know, 412 00:09:46,833 --> 00:09:48,000 it's more than half it. 413 00:09:48,000 --> 00:09:50,125 It's it's 50% difference. 414 00:09:50,458 --> 00:09:51,000 Like people 415 00:09:51,000 --> 00:09:52,208 like the volatility 416 00:09:52,708 --> 00:09:54,041 all that shit I like it. 417 00:09:54,041 --> 00:09:54,541 But then when I 418 00:09:54,541 --> 00:09:55,750 experience it, 419 00:09:56,083 --> 00:09:57,000 even for people that have 420 00:09:57,000 --> 00:09:58,333 been in since, 421 00:09:58,333 --> 00:09:59,541 you know, 20, 20, 422 00:09:59,958 --> 00:10:01,625 they just can't handle it. 423 00:10:01,625 --> 00:10:02,083 They, 424 00:10:02,083 --> 00:10:02,625 they know what 425 00:10:02,625 --> 00:10:03,416 they're in for, 426 00:10:03,416 --> 00:10:04,041 but they can't 427 00:10:04,041 --> 00:10:05,250 handle that kind of thing. 428 00:10:06,708 --> 00:10:07,958 So it is really weird. 429 00:10:07,958 --> 00:10:09,541 And I guess Covid, 430 00:10:10,541 --> 00:10:11,250 the whole 431 00:10:11,250 --> 00:10:12,375 distrust of government 432 00:10:12,375 --> 00:10:13,708 was sort of in your face. 433 00:10:14,708 --> 00:10:15,250 So again, 434 00:10:15,250 --> 00:10:16,458 it was very different. 435 00:10:17,583 --> 00:10:18,541 I mean, it 436 00:10:18,541 --> 00:10:19,708 it has the hallmarks 437 00:10:19,708 --> 00:10:20,916 of previous cycles, 438 00:10:21,333 --> 00:10:21,875 but I think 439 00:10:21,875 --> 00:10:23,958 it's very quiet today 440 00:10:24,291 --> 00:10:25,500 to what it was 441 00:10:26,125 --> 00:10:27,166 in that late 442 00:10:27,166 --> 00:10:29,291 stage of 2020 and 2021, 443 00:10:29,625 --> 00:10:30,666 especially when we double 444 00:10:30,666 --> 00:10:32,458 topped, our at 20 445 00:10:33,000 --> 00:10:33,750 mid 21. 446 00:10:34,916 --> 00:10:35,541 I think it's a 447 00:10:35,541 --> 00:10:36,750 healthy I 448 00:10:36,750 --> 00:10:37,375 think it's healthy 449 00:10:37,375 --> 00:10:38,166 at the moment. 450 00:10:38,166 --> 00:10:39,333 We're at these levels. 451 00:10:39,500 --> 00:10:40,666 It stayed quiet. 452 00:10:40,666 --> 00:10:41,875 I mean I'm getting 453 00:10:42,000 --> 00:10:42,750 I'm getting people 454 00:10:42,750 --> 00:10:43,333 messaging me 455 00:10:43,333 --> 00:10:44,541 saying it's done. 456 00:10:45,875 --> 00:10:46,916 I'm like, 457 00:10:46,916 --> 00:10:47,916 have you been eating Bitcoin 458 00:10:47,916 --> 00:10:49,625 for five minutes at this? 459 00:10:49,625 --> 00:10:50,041 Like, 460 00:10:50,041 --> 00:10:50,583 this is when 461 00:10:50,583 --> 00:10:51,375 you should be getting it. 462 00:10:51,375 --> 00:10:53,041 You know, when Warren Buffett 463 00:10:53,041 --> 00:10:53,916 says, you know, buy 464 00:10:53,916 --> 00:10:54,291 when there's 465 00:10:54,291 --> 00:10:55,500 blood in the streets, 466 00:10:55,583 --> 00:10:56,625 people say, oh yeah, that's 467 00:10:56,625 --> 00:10:57,916 easy to do, I'll do that. 468 00:10:57,916 --> 00:10:58,833 But I mean, blood 469 00:10:58,833 --> 00:10:59,583 is in the Straits 470 00:10:59,583 --> 00:11:00,958 now relatively 471 00:11:01,166 --> 00:11:02,458 to, you know, a month ago 472 00:11:02,500 --> 00:11:03,791 we had 120 4k 473 00:11:04,208 --> 00:11:05,333 and people think it's over. 474 00:11:05,333 --> 00:11:07,250 Like how short is your memory 475 00:11:07,250 --> 00:11:08,291 kind of thing. 476 00:11:08,291 --> 00:11:09,708 So yeah, 477 00:11:09,708 --> 00:11:11,000 it's, it's 478 00:11:11,666 --> 00:11:13,291 the only constant exchange. 479 00:11:13,625 --> 00:11:16,458 So I think it has 480 00:11:16,458 --> 00:11:17,166 the hallmarks 481 00:11:17,166 --> 00:11:18,375 of prior cycles, 482 00:11:18,791 --> 00:11:20,625 but it's very similar. 483 00:11:20,625 --> 00:11:21,625 And there's still a bit 484 00:11:21,625 --> 00:11:22,833 of volatility. 485 00:11:23,000 --> 00:11:24,208 It's obviously down. 486 00:11:24,458 --> 00:11:26,041 But I it 487 00:11:26,041 --> 00:11:28,000 this is why I love Bitcoin. 488 00:11:28,375 --> 00:11:29,583 It, it, 489 00:11:29,625 --> 00:11:30,458 I can see where it's 490 00:11:30,458 --> 00:11:32,041 going in the highs. 491 00:11:32,458 --> 00:11:33,125 But then when it hits 492 00:11:33,125 --> 00:11:34,708 the lows it enables me 493 00:11:34,708 --> 00:11:36,166 to double down on my thesis 494 00:11:36,166 --> 00:11:37,750 and and to stack even more. 495 00:11:37,916 --> 00:11:39,166 So it's kind of like a gift 496 00:11:39,166 --> 00:11:40,416 to me you know, 497 00:11:40,416 --> 00:11:42,708 like if I'm buying a spy 498 00:11:43,083 --> 00:11:44,250 or something like that, 499 00:11:44,750 --> 00:11:46,583 there's no there. 500 00:11:46,625 --> 00:11:46,916 I mean, 501 00:11:46,916 --> 00:11:47,875 there are opportunities 502 00:11:47,875 --> 00:11:49,083 to buy dips, 503 00:11:49,166 --> 00:11:50,375 but they're not as 504 00:11:50,791 --> 00:11:51,750 big as the dips 505 00:11:51,750 --> 00:11:52,958 in Bitcoin. 506 00:11:53,166 --> 00:11:54,375 Yeah I love it. 507 00:11:54,750 --> 00:11:55,166 Yeah. 508 00:11:55,166 --> 00:11:57,000 It's it's just Bitcoin 509 00:11:57,000 --> 00:11:58,458 has always resonated with me 510 00:11:58,458 --> 00:11:59,666 very well. 511 00:11:59,666 --> 00:12:00,791 I've never lost that 512 00:12:00,791 --> 00:12:02,166 resolution to buy more. 513 00:12:02,458 --> 00:12:03,916 I know I've watched stacked 514 00:12:03,916 --> 00:12:05,041 and I'll continue to stack 515 00:12:05,041 --> 00:12:06,208 even when the price is 516 00:12:06,333 --> 00:12:07,083 $1 million. 517 00:12:07,083 --> 00:12:08,375 I'll continue to stack. 518 00:12:09,250 --> 00:12:10,791 It suits my personality. 519 00:12:10,958 --> 00:12:11,375 I guess. 520 00:12:13,291 --> 00:12:13,625 Yeah. 521 00:12:13,625 --> 00:12:15,583 So speaking of spy, like, 522 00:12:15,583 --> 00:12:16,166 I know that 523 00:12:16,166 --> 00:12:16,875 you're in property. 524 00:12:16,875 --> 00:12:17,250 I know that 525 00:12:17,250 --> 00:12:17,916 you're in Bitcoin. 526 00:12:17,916 --> 00:12:18,916 Are you also in equities? 527 00:12:18,916 --> 00:12:20,541 In other asset classes? 528 00:12:21,125 --> 00:12:22,500 Well, I used to be like 529 00:12:22,500 --> 00:12:23,708 you can call 530 00:12:23,750 --> 00:12:24,958 being in super 531 00:12:25,000 --> 00:12:26,625 super easy. 532 00:12:26,708 --> 00:12:27,583 I mean by default 533 00:12:27,583 --> 00:12:28,041 you're going to 534 00:12:28,041 --> 00:12:29,250 be in equities. 535 00:12:29,375 --> 00:12:31,541 So in a way I had 536 00:12:31,541 --> 00:12:32,083 and it's funny 537 00:12:32,083 --> 00:12:32,750 you mentioned that. 538 00:12:32,750 --> 00:12:35,333 Ehm, so in 20 539 00:12:36,041 --> 00:12:37,666 I think it was 2015, 540 00:12:38,833 --> 00:12:39,791 one of my friends told me 541 00:12:39,791 --> 00:12:41,000 about a penny stock 542 00:12:41,041 --> 00:12:42,250 to buy a penny stock. 543 00:12:43,791 --> 00:12:45,208 And I did buy, 544 00:12:45,208 --> 00:12:46,416 a lot of this penny stock 545 00:12:46,416 --> 00:12:48,041 and it went 546 00:12:48,041 --> 00:12:49,000 I bought it at one point, 547 00:12:49,000 --> 00:12:50,250 I think it was $0.20 548 00:12:50,250 --> 00:12:51,458 at the time, 549 00:12:51,541 --> 00:12:54,333 and I wrote it up to $0.31. 550 00:12:55,625 --> 00:12:56,666 And then I thought, oh, yeah, 551 00:12:56,666 --> 00:12:57,958 this is going to go to $1. 552 00:12:57,958 --> 00:12:58,708 This is, you know, 553 00:12:58,708 --> 00:12:59,833 this is a great thing. 554 00:12:59,833 --> 00:13:01,291 It's a biotech company. 555 00:13:01,291 --> 00:13:02,500 It's doing good things. 556 00:13:02,750 --> 00:13:03,750 Problem is 557 00:13:03,750 --> 00:13:04,958 they try to you know, 558 00:13:05,125 --> 00:13:06,250 they tried to do what 559 00:13:06,250 --> 00:13:08,000 MSCI does at the moment. 560 00:13:08,000 --> 00:13:09,916 And issue 561 00:13:09,916 --> 00:13:11,166 more stock 562 00:13:11,833 --> 00:13:13,041 instead of to buy 563 00:13:13,166 --> 00:13:14,375 investments. 564 00:13:14,625 --> 00:13:15,333 And they used it 565 00:13:15,333 --> 00:13:16,083 to fund their, 566 00:13:16,083 --> 00:13:16,416 you know, 567 00:13:16,416 --> 00:13:17,583 their research development. 568 00:13:18,125 --> 00:13:18,708 But their research 569 00:13:18,708 --> 00:13:19,208 and development 570 00:13:19,208 --> 00:13:20,958 never really materialized. 571 00:13:21,500 --> 00:13:22,708 And it went, 572 00:13:22,708 --> 00:13:23,750 you know, I sold out 573 00:13:23,750 --> 00:13:25,166 at a huge loss. 574 00:13:25,166 --> 00:13:26,458 I think I put like, yeah, 575 00:13:26,458 --> 00:13:27,833 I put like 30 grand out. 576 00:13:28,333 --> 00:13:30,125 And when I wrote 577 00:13:30,166 --> 00:13:30,750 all the way down 578 00:13:30,750 --> 00:13:31,250 to about two 579 00:13:31,250 --> 00:13:32,458 and a half grand, 580 00:13:32,458 --> 00:13:33,708 and at the time 581 00:13:33,708 --> 00:13:34,625 I was still in Bitcoin, 582 00:13:34,625 --> 00:13:35,416 I was still buying 583 00:13:35,416 --> 00:13:36,375 bits of Bitcoin here 584 00:13:36,375 --> 00:13:36,916 and there because 585 00:13:36,916 --> 00:13:37,541 it was cheap. 586 00:13:38,875 --> 00:13:39,125 And I 587 00:13:39,125 --> 00:13:40,291 thought, you know, 588 00:13:40,500 --> 00:13:41,708 I'm not going to be 589 00:13:42,125 --> 00:13:42,875 on a whim 590 00:13:42,875 --> 00:13:45,291 of someone of a, of a board, 591 00:13:45,291 --> 00:13:46,333 of a corporation, 592 00:13:46,333 --> 00:13:47,541 of a person, 593 00:13:47,791 --> 00:13:49,083 of a research 594 00:13:49,083 --> 00:13:50,291 and development team. 595 00:13:50,291 --> 00:13:51,750 This has none of that. 596 00:13:52,166 --> 00:13:53,291 It performs well. 597 00:13:53,291 --> 00:13:54,541 It's come from nothing. 598 00:13:55,125 --> 00:13:57,166 So why am I wasting my time 599 00:13:57,166 --> 00:13:58,458 in a stock in a penny 600 00:13:58,458 --> 00:13:59,666 stock of all things? 601 00:14:01,083 --> 00:14:02,291 So, I mean, if you 602 00:14:02,791 --> 00:14:03,875 if you're better suited 603 00:14:03,875 --> 00:14:05,083 to those, you know, 604 00:14:05,333 --> 00:14:07,166 those slow, consistent 11%, 605 00:14:07,708 --> 00:14:09,375 annualized gains, 606 00:14:09,750 --> 00:14:10,958 then that's fine. 607 00:14:11,375 --> 00:14:13,291 But for me, I'm not, 608 00:14:13,500 --> 00:14:14,916 I'm it doesn't suit 609 00:14:14,916 --> 00:14:16,125 my personality. 610 00:14:16,708 --> 00:14:19,083 My, my why, 611 00:14:19,500 --> 00:14:20,416 I guess I'm 612 00:14:20,416 --> 00:14:21,666 someone who's, you know, 613 00:14:22,083 --> 00:14:23,250 anti the system. 614 00:14:23,250 --> 00:14:24,500 I would opt out of the system 615 00:14:24,791 --> 00:14:26,083 and buying a spy doesn't. 616 00:14:26,333 --> 00:14:28,166 It doesn't fit my narrative. 617 00:14:28,375 --> 00:14:29,375 Right. 618 00:14:29,375 --> 00:14:30,875 I have friends 619 00:14:30,875 --> 00:14:32,083 who are in the spy. 620 00:14:32,291 --> 00:14:33,291 If they'll very well, 621 00:14:33,291 --> 00:14:34,500 they'll continue to buy. 622 00:14:34,833 --> 00:14:36,625 And when I'm sort of 623 00:14:36,875 --> 00:14:38,250 when people ask my advice, I 624 00:14:38,250 --> 00:14:40,500 don't offer Bitcoin as a, 625 00:14:41,875 --> 00:14:43,083 as a first off, 626 00:14:43,083 --> 00:14:44,166 I always tell them maybe 627 00:14:44,166 --> 00:14:44,583 they should look 628 00:14:44,583 --> 00:14:45,791 at buying a spy, 629 00:14:45,916 --> 00:14:47,166 which I did in 2020. 630 00:14:47,166 --> 00:14:48,375 I was working with someone. 631 00:14:48,750 --> 00:14:49,625 Price had crashed 632 00:14:49,625 --> 00:14:50,208 and I told them 633 00:14:50,208 --> 00:14:51,958 to buy the index and he did, 634 00:14:52,416 --> 00:14:53,583 and he talked to me 635 00:14:53,708 --> 00:14:54,583 about a year later 636 00:14:54,583 --> 00:14:55,166 and he said, 637 00:14:55,166 --> 00:14:56,166 my one regret was 638 00:14:56,166 --> 00:14:57,375 not buying more. 639 00:14:57,375 --> 00:14:58,208 So imagine if I, 640 00:14:58,208 --> 00:14:59,250 you know, told him to buy 641 00:14:59,250 --> 00:14:59,708 Bitcoin 642 00:14:59,708 --> 00:15:00,083 would have been 643 00:15:00,083 --> 00:15:01,208 a different story altogether. 644 00:15:01,208 --> 00:15:01,708 I mean, 645 00:15:01,708 --> 00:15:02,208 it would have been 646 00:15:02,208 --> 00:15:02,833 the same story, 647 00:15:02,833 --> 00:15:03,541 but he would have 648 00:15:03,541 --> 00:15:04,958 been so much better off. 649 00:15:06,208 --> 00:15:07,791 So like I don't knock it. 650 00:15:07,791 --> 00:15:09,125 But again, I, 651 00:15:09,125 --> 00:15:10,916 I'm very it's may it's 652 00:15:10,916 --> 00:15:11,666 sort of like the 653 00:15:11,666 --> 00:15:13,125 gateway to bitcoin. 654 00:15:13,500 --> 00:15:14,791 If you like a spy. 655 00:15:15,083 --> 00:15:16,333 And you want to 656 00:15:16,791 --> 00:15:18,083 you want to go, 657 00:15:18,125 --> 00:15:19,666 you want to outperform it. 658 00:15:20,166 --> 00:15:20,916 Then there's, 659 00:15:20,916 --> 00:15:21,958 there is something else 660 00:15:21,958 --> 00:15:23,208 that out there right. 661 00:15:24,000 --> 00:15:25,625 And I've also 662 00:15:25,625 --> 00:15:26,250 been in property 663 00:15:26,250 --> 00:15:27,583 and all of them very well 664 00:15:27,583 --> 00:15:28,791 in residential property, 665 00:15:29,250 --> 00:15:30,916 but to me, like 666 00:15:31,208 --> 00:15:33,083 so I own a property 667 00:15:33,666 --> 00:15:34,791 in the, 668 00:15:34,791 --> 00:15:36,708 in the Melbourne suburbs. 669 00:15:36,708 --> 00:15:37,416 Right. 670 00:15:37,416 --> 00:15:38,458 It's about 15km 671 00:15:38,458 --> 00:15:39,666 north of the CBD. 672 00:15:40,291 --> 00:15:41,458 And I bought it, 673 00:15:41,458 --> 00:15:42,458 you know, at a 674 00:15:42,458 --> 00:15:43,666 at the high high 675 00:15:43,750 --> 00:15:44,958 to be five hundreds. 676 00:15:45,000 --> 00:15:45,791 It's now worth. 677 00:15:45,791 --> 00:15:47,458 And this was in mid 2023. 678 00:15:48,208 --> 00:15:49,416 It's now worth 679 00:15:49,750 --> 00:15:52,750 there's thousands equivalent 680 00:15:52,750 --> 00:15:54,333 then sold for 730 681 00:15:54,333 --> 00:15:55,750 K around New York. 682 00:15:55,750 --> 00:15:56,166 Right. 683 00:15:57,416 --> 00:15:57,958 And you look at 684 00:15:57,958 --> 00:15:59,166 on the surface and obviously 685 00:15:59,166 --> 00:16:00,375 I've done pretty well. 686 00:16:01,625 --> 00:16:02,541 But during that time 687 00:16:02,541 --> 00:16:03,833 there's been so much cost 688 00:16:03,833 --> 00:16:05,041 obviously the loan. 689 00:16:05,250 --> 00:16:06,500 And people always say that 690 00:16:06,916 --> 00:16:07,833 because you can leverage 691 00:16:07,833 --> 00:16:08,333 a property, 692 00:16:08,333 --> 00:16:09,541 you can exponentially 693 00:16:09,541 --> 00:16:10,416 grow your wealth, 694 00:16:10,416 --> 00:16:11,625 which is true. 695 00:16:11,791 --> 00:16:12,916 But, 696 00:16:12,916 --> 00:16:14,458 I've modeled out 697 00:16:14,458 --> 00:16:15,166 the performance 698 00:16:15,166 --> 00:16:17,583 of one Bitcoin and today's 699 00:16:17,583 --> 00:16:18,750 prices versus 700 00:16:18,750 --> 00:16:19,958 my property. 701 00:16:20,083 --> 00:16:22,083 Given my launch value ratio 702 00:16:22,083 --> 00:16:24,208 on that is about 60%. 703 00:16:24,750 --> 00:16:27,000 And all the expenses 704 00:16:27,333 --> 00:16:28,250 and the income 705 00:16:28,250 --> 00:16:28,875 and the growth 706 00:16:28,875 --> 00:16:29,208 of what 707 00:16:29,208 --> 00:16:29,916 I think that's 708 00:16:29,916 --> 00:16:30,541 going to achieve 709 00:16:30,541 --> 00:16:31,750 over the next ten years. 710 00:16:32,125 --> 00:16:34,083 And ChatGPT 711 00:16:34,083 --> 00:16:35,166 has actually said 712 00:16:35,166 --> 00:16:36,916 that I'll be 400 K better off 713 00:16:37,416 --> 00:16:38,708 owning one Bitcoin today 714 00:16:39,208 --> 00:16:40,416 and DCA 715 00:16:40,458 --> 00:16:41,666 a thousand bucks a month. 716 00:16:42,166 --> 00:16:43,958 So so to me 717 00:16:43,958 --> 00:16:45,000 the leverage means nothing 718 00:16:45,000 --> 00:16:46,208 because 719 00:16:46,333 --> 00:16:47,541 unless you're super rich 720 00:16:47,833 --> 00:16:48,875 and you can 721 00:16:48,875 --> 00:16:49,541 buy a property 722 00:16:49,541 --> 00:16:50,833 in cash, right, 723 00:16:51,541 --> 00:16:52,666 then you have to fund it 724 00:16:52,666 --> 00:16:53,333 and it's going to cost 725 00:16:53,333 --> 00:16:54,250 you interest 726 00:16:54,250 --> 00:16:55,291 and a 5.5% 727 00:16:55,291 --> 00:16:57,666 interest and a kegger of, 728 00:16:57,666 --> 00:16:59,000 you know, 7% growth. 729 00:16:59,000 --> 00:17:00,208 While the typical 730 00:17:00,208 --> 00:17:01,416 Australian house 731 00:17:01,875 --> 00:17:02,958 that it doesn't 732 00:17:02,958 --> 00:17:03,750 really make sense, 733 00:17:03,750 --> 00:17:04,500 you're not even really 734 00:17:04,500 --> 00:17:06,125 beating inflation, right. 735 00:17:06,125 --> 00:17:07,291 You're just keeping up. 736 00:17:07,708 --> 00:17:08,375 Not to mention 737 00:17:08,375 --> 00:17:09,375 that you've got to put up 738 00:17:09,375 --> 00:17:10,583 with the vacancy period. 739 00:17:11,208 --> 00:17:12,333 You've got to put up with 740 00:17:12,333 --> 00:17:13,500 the heat is broken 741 00:17:13,666 --> 00:17:15,333 or the children have, 742 00:17:15,625 --> 00:17:16,958 shut the door, 743 00:17:16,958 --> 00:17:17,666 the back door 744 00:17:17,666 --> 00:17:18,666 really, really hard 745 00:17:18,666 --> 00:17:19,416 and it's locked. 746 00:17:19,416 --> 00:17:20,291 And you have to get a lock 747 00:17:20,291 --> 00:17:21,541 me down, right? 748 00:17:21,541 --> 00:17:22,833 Or a fence is broken 749 00:17:22,958 --> 00:17:25,208 or a tile has, you know, 750 00:17:25,625 --> 00:17:27,333 a roof tile has come loose 751 00:17:27,333 --> 00:17:28,041 and there's rain 752 00:17:28,041 --> 00:17:28,750 getting in the ceiling 753 00:17:28,750 --> 00:17:29,625 and your whole range, 754 00:17:29,625 --> 00:17:30,791 your ceiling is 755 00:17:30,791 --> 00:17:31,625 completely broken. 756 00:17:31,625 --> 00:17:32,041 These are not. 757 00:17:32,041 --> 00:17:33,250 I'm not making this up. 758 00:17:33,500 --> 00:17:34,416 I've got a friend 759 00:17:34,416 --> 00:17:35,458 who has experience 760 00:17:35,458 --> 00:17:36,500 exactly that. 761 00:17:36,500 --> 00:17:37,416 One of these investment 762 00:17:37,416 --> 00:17:38,250 properties, 763 00:17:38,250 --> 00:17:39,458 the whole ceiling caved in 764 00:17:39,833 --> 00:17:40,750 because it 765 00:17:40,750 --> 00:17:41,375 right down 766 00:17:41,375 --> 00:17:42,583 in the set of cuts. 767 00:17:42,583 --> 00:17:43,375 Right. 768 00:17:43,375 --> 00:17:44,291 So then you think, 769 00:17:44,291 --> 00:17:44,750 oh no, that's 770 00:17:44,750 --> 00:17:45,625 not going to happen to me. 771 00:17:45,625 --> 00:17:46,833 But you'd be wrong. 772 00:17:46,958 --> 00:17:48,791 Like it actually does happen. 773 00:17:50,375 --> 00:17:51,541 People look 774 00:17:52,291 --> 00:17:53,625 especially Aussies are sold 775 00:17:53,625 --> 00:17:55,000 on the whole bricks 776 00:17:55,000 --> 00:17:56,000 and mortar thing. 777 00:17:56,000 --> 00:17:58,291 But this bitter effort 778 00:17:58,291 --> 00:17:59,625 is absolutely 779 00:17:59,625 --> 00:18:00,416 bitter out there. 780 00:18:00,416 --> 00:18:01,625 And, you know, 781 00:18:02,250 --> 00:18:03,458 I don't I don't 782 00:18:03,625 --> 00:18:04,375 I don't make bold 783 00:18:04,375 --> 00:18:05,041 predictions, 784 00:18:05,041 --> 00:18:05,500 you know, 785 00:18:05,500 --> 00:18:06,583 overzealous predictions 786 00:18:06,583 --> 00:18:07,291 or anything like that. 787 00:18:07,291 --> 00:18:08,041 I'm probably the most 788 00:18:08,041 --> 00:18:09,416 conservative person 789 00:18:09,416 --> 00:18:11,041 in Bitcoin community space. 790 00:18:11,583 --> 00:18:14,166 I do genuinely believe 791 00:18:14,166 --> 00:18:16,583 that we will see one average 792 00:18:16,583 --> 00:18:18,125 Australian house to be worth 793 00:18:18,125 --> 00:18:19,333 less than one Bitcoin 794 00:18:19,625 --> 00:18:20,333 that will happen 795 00:18:20,333 --> 00:18:21,541 in our lifetime. 796 00:18:21,666 --> 00:18:23,250 So like one day 797 00:18:23,250 --> 00:18:24,916 you'll be able to buy streets 798 00:18:24,916 --> 00:18:26,125 with one bitcoin. 799 00:18:26,416 --> 00:18:29,000 So yeah, I mean 800 00:18:30,125 --> 00:18:31,291 I like to 801 00:18:32,125 --> 00:18:33,666 it's in summation, 802 00:18:33,666 --> 00:18:34,958 I guess I like to show people 803 00:18:35,250 --> 00:18:36,458 this is the gateway. 804 00:18:37,000 --> 00:18:38,250 If you want to outperform 805 00:18:39,208 --> 00:18:40,666 then there is something 806 00:18:40,666 --> 00:18:42,750 that risk adjusted 807 00:18:42,750 --> 00:18:44,708 I believe will outperform 808 00:18:44,708 --> 00:18:45,375 the S&P. 809 00:18:45,375 --> 00:18:46,708 I believe with Bitcoin 810 00:18:46,708 --> 00:18:47,916 over the next ten years, 811 00:18:48,208 --> 00:18:48,750 you could 812 00:18:48,750 --> 00:18:49,625 you could 813 00:18:49,625 --> 00:18:50,833 compare it with the cookie. 814 00:18:50,916 --> 00:18:51,666 The Nasdaq. 815 00:18:52,958 --> 00:18:53,583 You can compare 816 00:18:53,583 --> 00:18:55,625 it to spy. 817 00:18:56,291 --> 00:18:57,500 Compared to Australian 818 00:18:57,583 --> 00:18:58,583 real estate. 819 00:18:58,583 --> 00:18:59,708 You can compare it to 820 00:18:59,708 --> 00:19:00,916 the ASX. 821 00:19:01,125 --> 00:19:02,333 Any basket 822 00:19:02,333 --> 00:19:03,250 it will outperform. 823 00:19:03,250 --> 00:19:03,625 Obviously 824 00:19:03,625 --> 00:19:04,833 there's going to be like 825 00:19:04,833 --> 00:19:06,958 outliers for example, 826 00:19:07,041 --> 00:19:10,708 semiconductor, 827 00:19:10,708 --> 00:19:12,666 semiconductor, broad based 828 00:19:12,833 --> 00:19:13,958 funds 829 00:19:13,958 --> 00:19:14,958 have outperformed Bitcoin 830 00:19:14,958 --> 00:19:15,208 over the 831 00:19:15,208 --> 00:19:16,416 last couple of years. 832 00:19:16,541 --> 00:19:17,500 But that's sort of like 833 00:19:17,500 --> 00:19:18,708 picking and choosing. 834 00:19:18,916 --> 00:19:19,416 And you have to 835 00:19:19,416 --> 00:19:20,250 do your research 836 00:19:20,250 --> 00:19:20,666 and you have 837 00:19:20,666 --> 00:19:21,875 to believe in it. 838 00:19:21,875 --> 00:19:22,916 Whereas Bitcoin is kind of 839 00:19:22,916 --> 00:19:24,375 like you said forget. 840 00:19:24,375 --> 00:19:25,583 And you go out, you know, 841 00:19:25,833 --> 00:19:27,041 and video off 842 00:19:27,625 --> 00:19:28,791 most people 843 00:19:28,791 --> 00:19:30,125 mom and dad investors, 844 00:19:30,125 --> 00:19:31,041 they've got kids. 845 00:19:31,041 --> 00:19:32,708 They've got yeah obligation. 846 00:19:32,708 --> 00:19:33,875 They got to go to work. 847 00:19:34,208 --> 00:19:34,875 They can't be 848 00:19:34,875 --> 00:19:35,958 looking at a stock. 849 00:19:35,958 --> 00:19:36,375 Well that can't 850 00:19:36,375 --> 00:19:37,583 be looking at the 851 00:19:37,708 --> 00:19:39,083 whether a stock 852 00:19:39,083 --> 00:19:40,333 is overbought overpriced 853 00:19:40,333 --> 00:19:41,083 I can't keep up 854 00:19:41,083 --> 00:19:42,291 with the news. 855 00:19:42,291 --> 00:19:43,291 You know 856 00:19:43,291 --> 00:19:44,833 if you want to risk 857 00:19:44,833 --> 00:19:46,166 adjusted outperform 858 00:19:46,291 --> 00:19:46,875 and not have to 859 00:19:46,875 --> 00:19:47,458 worry about it. 860 00:19:47,458 --> 00:19:49,041 To me personally, I believe 861 00:19:49,041 --> 00:19:50,125 Bitcoin is the best way 862 00:19:50,125 --> 00:19:50,875 to go. 863 00:19:50,875 --> 00:19:51,916 And I stand by that. 864 00:19:53,125 --> 00:19:54,625 Yeah, 100%. 865 00:19:54,625 --> 00:19:56,208 Prior to Bitcoin 866 00:19:56,208 --> 00:19:58,208 I was a huge fan of S&P 500 867 00:19:58,208 --> 00:19:59,583 because I like, 868 00:19:59,583 --> 00:20:01,583 investments that I understand 869 00:20:01,958 --> 00:20:03,375 and that feel safe. 870 00:20:03,375 --> 00:20:04,583 So for me, 871 00:20:05,083 --> 00:20:06,208 it was very much like Warren 872 00:20:06,208 --> 00:20:06,958 Buffett was 873 00:20:06,958 --> 00:20:08,166 my favorite investor. 874 00:20:08,166 --> 00:20:09,375 And I think 875 00:20:09,375 --> 00:20:10,583 like 90% 876 00:20:10,875 --> 00:20:12,750 broad index fund, 10% 877 00:20:13,083 --> 00:20:14,583 something like fixed interest 878 00:20:15,125 --> 00:20:16,083 and not 879 00:20:16,083 --> 00:20:17,250 overcomplicating things, 880 00:20:17,250 --> 00:20:18,500 not buying individual stocks. 881 00:20:18,500 --> 00:20:21,958 So I went for Ivy, not spy. 882 00:20:21,958 --> 00:20:22,958 I compared the two, 883 00:20:22,958 --> 00:20:23,875 if I remember correctly, 884 00:20:23,875 --> 00:20:25,083 and I chose Ivy, 885 00:20:25,333 --> 00:20:26,541 and that has done 886 00:20:26,541 --> 00:20:27,208 well for me. 887 00:20:27,208 --> 00:20:28,833 Like I did get good returns, 888 00:20:28,833 --> 00:20:29,833 but what I didn't know 889 00:20:29,833 --> 00:20:32,458 at the time is that the S&P 890 00:20:32,458 --> 00:20:34,000 500 is just a proxy 891 00:20:34,000 --> 00:20:35,208 for inflation, 892 00:20:35,458 --> 00:20:36,583 like you are just 893 00:20:36,583 --> 00:20:38,041 keeping up with inflation, 894 00:20:38,041 --> 00:20:38,250 you know, 895 00:20:38,250 --> 00:20:39,875 not outperforming it. 896 00:20:39,875 --> 00:20:41,416 So essentially 897 00:20:41,416 --> 00:20:42,666 all the money that I earned 898 00:20:42,666 --> 00:20:43,875 I just kept 899 00:20:43,958 --> 00:20:45,583 you know and and 900 00:20:45,708 --> 00:20:46,791 yeah that was a big, 901 00:20:46,791 --> 00:20:48,291 big Eye-Opening moment 902 00:20:48,291 --> 00:20:48,666 for me 903 00:20:48,666 --> 00:20:49,875 when I got into Bitcoin. 904 00:20:50,708 --> 00:20:52,500 And I think I'm doing 905 00:20:52,500 --> 00:20:53,833 well with the volatility. 906 00:20:54,708 --> 00:20:55,875 The biggest drawback 907 00:20:55,875 --> 00:20:57,333 I've had since I entered 908 00:20:57,333 --> 00:20:58,416 was 30%. 909 00:20:58,416 --> 00:20:59,458 And I do remember 910 00:20:59,458 --> 00:21:00,708 getting a little bit nervous 911 00:21:00,708 --> 00:21:02,041 and reaching out to, 912 00:21:02,458 --> 00:21:02,791 you know, 913 00:21:02,791 --> 00:21:03,750 the Sydney community 914 00:21:03,750 --> 00:21:04,541 at the time. 915 00:21:04,541 --> 00:21:05,791 And they were like, oh, 916 00:21:06,625 --> 00:21:06,875 you're 917 00:21:06,875 --> 00:21:08,333 you're worried about 30%. 918 00:21:08,375 --> 00:21:10,416 Oh like cute 919 00:21:11,208 --> 00:21:12,666 like welcome to Bitcoin. 920 00:21:14,750 --> 00:21:15,958 So be interesting 921 00:21:16,666 --> 00:21:17,125 too. 922 00:21:17,125 --> 00:21:18,666 It's it's funny 923 00:21:18,666 --> 00:21:19,916 when you mentioned Warren 924 00:21:19,916 --> 00:21:21,125 Buffett. Right. 925 00:21:21,458 --> 00:21:24,041 So I believe 926 00:21:24,375 --> 00:21:26,583 but you have to critically 927 00:21:26,583 --> 00:21:28,000 think is 928 00:21:28,000 --> 00:21:29,250 a skill in itself. 929 00:21:29,791 --> 00:21:30,833 It's it's 930 00:21:30,833 --> 00:21:31,500 not it's 931 00:21:31,500 --> 00:21:32,708 you're not born with it. 932 00:21:33,333 --> 00:21:33,958 It's I think 933 00:21:33,958 --> 00:21:35,166 believe it's it's something 934 00:21:35,166 --> 00:21:36,458 that is very much 935 00:21:36,458 --> 00:21:37,666 learned over time. 936 00:21:38,125 --> 00:21:40,625 And in accounting, part of, 937 00:21:40,958 --> 00:21:42,416 you guys are unique 938 00:21:42,875 --> 00:21:44,291 part of, 939 00:21:45,333 --> 00:21:45,875 being, 940 00:21:45,875 --> 00:21:46,208 you know, 941 00:21:46,208 --> 00:21:47,250 there's been counter 942 00:21:47,250 --> 00:21:47,791 there's someone 943 00:21:47,791 --> 00:21:49,041 who adds value. 944 00:21:49,625 --> 00:21:50,458 Part of my job 945 00:21:50,458 --> 00:21:51,041 is to be 946 00:21:51,041 --> 00:21:52,166 professionally skeptical. 947 00:21:52,166 --> 00:21:52,791 Right. 948 00:21:52,791 --> 00:21:53,750 So not just take 949 00:21:53,750 --> 00:21:54,791 I used to be an auditor. 950 00:21:54,791 --> 00:21:55,875 So it's not just to take 951 00:21:55,875 --> 00:21:56,375 the client's 952 00:21:56,375 --> 00:21:57,083 word for something 953 00:21:57,083 --> 00:21:58,333 at the time, right? 954 00:21:58,625 --> 00:22:00,208 So listen to what they say. 955 00:22:00,208 --> 00:22:00,875 But then do 956 00:22:00,875 --> 00:22:01,708 your own research. 957 00:22:01,708 --> 00:22:02,500 Right. 958 00:22:02,500 --> 00:22:03,458 So when you go 959 00:22:03,458 --> 00:22:05,041 back to one and I mean, 960 00:22:05,083 --> 00:22:06,250 I go back to 961 00:22:06,333 --> 00:22:06,791 in the body 962 00:22:06,791 --> 00:22:07,666 building community, 963 00:22:07,666 --> 00:22:08,375 there's so much 964 00:22:08,375 --> 00:22:09,666 misinformation, right? 965 00:22:10,208 --> 00:22:11,250 Just because 966 00:22:11,250 --> 00:22:12,791 someone's huge 967 00:22:13,250 --> 00:22:14,458 and, you know, 968 00:22:14,500 --> 00:22:15,666 they look like they know 969 00:22:15,666 --> 00:22:16,833 what they're doing, 970 00:22:16,958 --> 00:22:17,875 it doesn't mean 971 00:22:17,875 --> 00:22:19,083 anything, right? 972 00:22:19,458 --> 00:22:20,583 Yeah. For sure. 973 00:22:20,583 --> 00:22:21,875 When you you got to see 974 00:22:21,875 --> 00:22:23,208 why they're actually, 975 00:22:23,208 --> 00:22:24,541 like, what they do, why 976 00:22:25,208 --> 00:22:26,500 they might think that the 977 00:22:26,541 --> 00:22:26,916 what they're 978 00:22:26,916 --> 00:22:28,083 doing is correct, 979 00:22:28,125 --> 00:22:28,666 but it's actually 980 00:22:28,666 --> 00:22:29,708 the other things 981 00:22:29,708 --> 00:22:31,333 that is enabling them 982 00:22:31,333 --> 00:22:32,125 to be successful. 983 00:22:32,125 --> 00:22:33,291 Right? 984 00:22:33,291 --> 00:22:34,291 It's like you 985 00:22:34,291 --> 00:22:35,458 look at, 986 00:22:35,541 --> 00:22:37,750 football teams, 987 00:22:38,375 --> 00:22:39,125 coaches, 988 00:22:39,125 --> 00:22:40,083 the good coaches 989 00:22:40,083 --> 00:22:41,291 usually are not 990 00:22:41,625 --> 00:22:42,541 great 991 00:22:42,541 --> 00:22:43,708 football players. 992 00:22:43,708 --> 00:22:44,416 Right? 993 00:22:44,416 --> 00:22:45,250 Michael Jordan, 994 00:22:45,250 --> 00:22:46,791 he would be a good coach. 995 00:22:47,291 --> 00:22:48,375 He was a great player. 996 00:22:48,375 --> 00:22:49,833 But whether it's a coach, 997 00:22:50,500 --> 00:22:51,500 you don't know 998 00:22:51,500 --> 00:22:53,291 James Hird not a great coach, 999 00:22:53,500 --> 00:22:54,458 great player. 1000 00:22:54,458 --> 00:22:55,625 Mike Vos 1001 00:22:55,833 --> 00:22:56,583 great player. 1002 00:22:57,750 --> 00:22:58,625 Horrible coach. 1003 00:22:58,625 --> 00:22:59,541 Right. 1004 00:22:59,541 --> 00:23:00,625 It's the good coaches 1005 00:23:00,625 --> 00:23:01,916 that have won four 1006 00:23:01,916 --> 00:23:03,666 premierships or 1 or 2 1007 00:23:03,916 --> 00:23:05,791 that were average players. 1008 00:23:05,791 --> 00:23:06,166 Alister 1009 00:23:06,166 --> 00:23:07,416 Clarkson, average player. 1010 00:23:07,416 --> 00:23:08,583 Right. 1011 00:23:10,000 --> 00:23:11,166 So to me 1012 00:23:11,166 --> 00:23:12,750 it's like Warren Buffett, 1013 00:23:12,791 --> 00:23:14,000 he's a great vista. 1014 00:23:14,166 --> 00:23:15,166 But when he comes 1015 00:23:15,166 --> 00:23:16,500 out and calls Bitcoin 1016 00:23:16,500 --> 00:23:17,791 rat poison squared, 1017 00:23:18,250 --> 00:23:19,458 it's like, well, 1018 00:23:19,708 --> 00:23:21,083 why do you call it that? 1019 00:23:21,083 --> 00:23:22,166 Right. 1020 00:23:22,166 --> 00:23:23,291 There's there's a reason 1021 00:23:23,291 --> 00:23:24,500 usually because, 1022 00:23:24,750 --> 00:23:25,208 you know 1023 00:23:25,208 --> 00:23:26,250 you and I both know 1024 00:23:26,250 --> 00:23:27,250 he doesn't need Bitcoin. 1025 00:23:27,250 --> 00:23:28,458 He doesn't need you know 1026 00:23:28,708 --> 00:23:29,833 the Bitcoin community 1027 00:23:29,833 --> 00:23:31,041 says he's got you know 1028 00:23:31,291 --> 00:23:32,750 100 billion cash or something 1029 00:23:32,750 --> 00:23:34,041 because he sold out majority 1030 00:23:34,041 --> 00:23:35,250 of his Apple stake. 1031 00:23:35,500 --> 00:23:36,708 But it's like 1032 00:23:37,375 --> 00:23:38,041 whether he goes 1033 00:23:38,041 --> 00:23:38,708 from 100 billion 1034 00:23:38,708 --> 00:23:39,708 to 200 billion 1035 00:23:39,708 --> 00:23:40,458 he doesn't care. 1036 00:23:40,458 --> 00:23:41,666 You're right. 1037 00:23:41,750 --> 00:23:42,333 In the next 1038 00:23:42,333 --> 00:23:44,333 6 to 12 months for him. 1039 00:23:44,625 --> 00:23:45,166 It's not 1040 00:23:45,166 --> 00:23:45,583 he doesn't 1041 00:23:45,583 --> 00:23:46,708 want to buy bitcoin. 1042 00:23:46,708 --> 00:23:48,041 He doesn't need bitcoin 1043 00:23:48,458 --> 00:23:48,875 for him. 1044 00:23:48,875 --> 00:23:50,750 It's he he does what he does 1045 00:23:50,750 --> 00:23:51,958 well which is he 1046 00:23:51,958 --> 00:23:53,250 buys undervalued companies 1047 00:23:53,250 --> 00:23:54,416 as a value investor. 1048 00:23:54,416 --> 00:23:55,208 Right. 1049 00:23:55,208 --> 00:23:58,000 So I've learned 1050 00:23:58,458 --> 00:23:59,291 never to, 1051 00:24:00,291 --> 00:24:01,125 to to 1052 00:24:01,125 --> 00:24:02,583 to always question 1053 00:24:03,125 --> 00:24:04,291 seasoned 1054 00:24:04,375 --> 00:24:05,208 people that have done 1055 00:24:05,208 --> 00:24:06,333 well why even Dell 1056 00:24:06,333 --> 00:24:06,916 Markets goes 1057 00:24:06,916 --> 00:24:07,666 the same with property 1058 00:24:07,666 --> 00:24:08,833 investors. Right. 1059 00:24:08,833 --> 00:24:09,666 You could talk to those 1060 00:24:09,666 --> 00:24:12,000 old Italians, that old Greeks 1061 00:24:12,166 --> 00:24:13,583 that own 20 investment 1062 00:24:13,583 --> 00:24:14,250 properties. 1063 00:24:14,250 --> 00:24:14,833 Right. 1064 00:24:14,833 --> 00:24:16,125 This strategy today 1065 00:24:16,125 --> 00:24:17,250 to buy those 20 investment 1066 00:24:17,250 --> 00:24:19,166 properties, back then 1067 00:24:19,416 --> 00:24:20,625 do not hold today. 1068 00:24:21,208 --> 00:24:21,666 Right. 1069 00:24:21,666 --> 00:24:22,833 So they will sell you 1070 00:24:22,833 --> 00:24:24,041 what they did. 1071 00:24:24,291 --> 00:24:25,666 But you can't do that, right? 1072 00:24:25,666 --> 00:24:27,166 Because the landscape 1073 00:24:27,166 --> 00:24:27,666 has changed. 1074 00:24:27,666 --> 00:24:28,708 Funding has changed 1075 00:24:28,708 --> 00:24:29,666 since the GFC. 1076 00:24:29,666 --> 00:24:30,875 Right. 1077 00:24:31,416 --> 00:24:32,583 You could be able to, 1078 00:24:32,625 --> 00:24:33,833 you know, back in the day 1079 00:24:33,833 --> 00:24:34,416 you could buy a 1080 00:24:34,416 --> 00:24:35,708 property for 200 grand. 1081 00:24:35,708 --> 00:24:36,916 It goes up to 400 grand. 1082 00:24:37,208 --> 00:24:37,708 You use that 1083 00:24:37,708 --> 00:24:38,916 200 K difference. 1084 00:24:38,916 --> 00:24:39,958 You can't buy another one. 1085 00:24:39,958 --> 00:24:41,666 You can keep doing that 1086 00:24:41,958 --> 00:24:42,708 endlessly 1087 00:24:42,708 --> 00:24:43,375 even though you don't 1088 00:24:43,375 --> 00:24:43,958 have the income 1089 00:24:43,958 --> 00:24:44,625 to service it. 1090 00:24:44,625 --> 00:24:45,458 Right. 1091 00:24:45,458 --> 00:24:46,958 Or today the banks cap 1092 00:24:46,958 --> 00:24:48,333 you at one of two properties, 1093 00:24:48,500 --> 00:24:49,625 and that's literally all 1094 00:24:49,625 --> 00:24:50,791 you can borrow, right? 1095 00:24:51,291 --> 00:24:53,375 So yeah, 1096 00:24:53,375 --> 00:24:54,583 it's it's 1097 00:24:54,833 --> 00:24:55,625 I've and that's why 1098 00:24:55,625 --> 00:24:57,000 Bitcoin has resonated with me 1099 00:24:57,000 --> 00:24:57,541 so much. 1100 00:24:57,541 --> 00:24:58,833 It's why do people hate it. 1101 00:24:59,083 --> 00:25:00,000 Right. 1102 00:25:00,000 --> 00:25:01,833 What why people say 1103 00:25:01,833 --> 00:25:03,125 volatility is scary. 1104 00:25:03,458 --> 00:25:05,541 But why is scary. 1105 00:25:05,541 --> 00:25:06,583 Is it because you can't ride 1106 00:25:06,583 --> 00:25:07,791 the world coaster? 1107 00:25:08,250 --> 00:25:08,916 Is it because you're 1108 00:25:08,916 --> 00:25:10,208 too attached to short 1109 00:25:10,208 --> 00:25:11,375 term guidance? 1110 00:25:11,541 --> 00:25:12,500 You know, you going 1111 00:25:12,500 --> 00:25:12,916 to work out 1112 00:25:12,916 --> 00:25:13,916 what your why is my 1113 00:25:13,916 --> 00:25:15,166 why is 20 years out? 1114 00:25:15,166 --> 00:25:16,375 Why do I care if it drops 1115 00:25:16,375 --> 00:25:17,583 50% today? 1116 00:25:17,750 --> 00:25:18,875 You can't. 1117 00:25:18,875 --> 00:25:19,708 And I always ask. 1118 00:25:19,708 --> 00:25:21,208 I always tell friends 1119 00:25:21,208 --> 00:25:22,416 who are very new to it. 1120 00:25:22,416 --> 00:25:23,583 I always tell them, oh, 1121 00:25:23,916 --> 00:25:24,208 I mean, 1122 00:25:24,208 --> 00:25:25,250 they came to me this morning. 1123 00:25:25,250 --> 00:25:26,708 It's 108 K, we're going 1124 00:25:26,708 --> 00:25:27,875 below 100. 1125 00:25:27,875 --> 00:25:28,666 I'm like, well, 1126 00:25:28,666 --> 00:25:30,000 so you know, 1127 00:25:30,000 --> 00:25:30,541 you're down 1128 00:25:30,541 --> 00:25:31,250 on your investment 1129 00:25:31,250 --> 00:25:32,458 that you bought a month ago. 1130 00:25:32,958 --> 00:25:34,375 Oh, are you in it 1131 00:25:34,375 --> 00:25:35,750 for the next six months. 1132 00:25:35,750 --> 00:25:37,208 Well are you yes 1133 00:25:37,208 --> 00:25:38,416 or no ten years. 1134 00:25:38,625 --> 00:25:39,791 One you can 1135 00:25:39,791 --> 00:25:40,875 but I know it's going to 1136 00:25:40,875 --> 00:25:42,666 be $1 billion in my opinion. 1137 00:25:42,750 --> 00:25:43,125 Right. 1138 00:25:44,416 --> 00:25:46,416 So if I get 187 1139 00:25:46,416 --> 00:25:48,541 50, 120, 200 K 1140 00:25:49,208 --> 00:25:49,958 is a, it's a it's 1141 00:25:49,958 --> 00:25:51,125 a bit of a misnomer. 1142 00:25:51,541 --> 00:25:52,750 Like I said, 1143 00:25:52,833 --> 00:25:53,791 you need, 1144 00:25:53,791 --> 00:25:55,083 I think, to outperform. 1145 00:25:55,083 --> 00:25:55,666 You need to 1146 00:25:55,666 --> 00:25:57,125 swallow the short term. 1147 00:25:57,416 --> 00:26:00,416 The short term fluctuations 1148 00:26:00,416 --> 00:26:01,625 and work out what you're 1149 00:26:01,625 --> 00:26:02,083 why these 1150 00:26:02,083 --> 00:26:02,458 I think you're 1151 00:26:02,458 --> 00:26:04,041 why it's very important. 1152 00:26:04,583 --> 00:26:05,500 It all should be like 1153 00:26:05,500 --> 00:26:06,125 your mission 1154 00:26:06,125 --> 00:26:07,333 statement on the wall 1155 00:26:07,416 --> 00:26:08,375 every time, you know, 1156 00:26:08,375 --> 00:26:08,791 you go through 1157 00:26:08,791 --> 00:26:09,958 a 30% drawdown, 1158 00:26:10,208 --> 00:26:11,750 you look back on why, 1159 00:26:11,750 --> 00:26:12,666 and you kind of don't 1160 00:26:12,666 --> 00:26:13,916 really listen to the noise. 1161 00:26:14,708 --> 00:26:15,250 I found that 1162 00:26:15,250 --> 00:26:17,375 to be extremely effective 1163 00:26:17,666 --> 00:26:18,875 today, right. 1164 00:26:18,875 --> 00:26:20,416 So but that's. 1165 00:26:20,583 --> 00:26:21,750 Yeah. 1166 00:26:22,125 --> 00:26:22,541 Yeah. 1167 00:26:22,541 --> 00:26:24,250 No, I believe 100% 1168 00:26:24,250 --> 00:26:24,875 what you're saying, 1169 00:26:24,875 --> 00:26:26,083 even in, in, like, 1170 00:26:26,125 --> 00:26:27,375 you know, friends that invest 1171 00:26:27,375 --> 00:26:28,708 in, like, the S&P 500, 1172 00:26:28,708 --> 00:26:29,458 they don't even look 1173 00:26:29,458 --> 00:26:30,333 at that investment 1174 00:26:30,333 --> 00:26:31,375 as long term. 1175 00:26:31,375 --> 00:26:32,666 It's more like five years 1176 00:26:32,666 --> 00:26:33,833 an amount. 1177 00:26:33,833 --> 00:26:35,375 So I think people 1178 00:26:35,375 --> 00:26:37,000 these days are incredibly, 1179 00:26:37,000 --> 00:26:38,375 incredibly shortsighted. 1180 00:26:38,375 --> 00:26:38,791 They're always 1181 00:26:38,791 --> 00:26:39,708 looking to cash out 1182 00:26:39,708 --> 00:26:40,833 rather than continue 1183 00:26:40,833 --> 00:26:42,208 building their portfolio. 1184 00:26:42,875 --> 00:26:44,375 Yeah. 1185 00:26:44,375 --> 00:26:45,208 Because I think 1186 00:26:45,208 --> 00:26:46,375 even like with compound 1187 00:26:46,375 --> 00:26:46,750 interest, 1188 00:26:46,750 --> 00:26:47,916 the magic starts happening 1189 00:26:47,916 --> 00:26:49,708 after year seven and onwards. 1190 00:26:49,708 --> 00:26:50,916 Like the longer you're in, 1191 00:26:51,000 --> 00:26:52,208 the better you do. 1192 00:26:52,666 --> 00:26:53,875 Yeah. 1193 00:26:53,958 --> 00:26:55,166 But going back to your. 1194 00:26:55,166 --> 00:26:56,458 Why, Andrew, 1195 00:26:56,458 --> 00:26:57,458 I really want to know 1196 00:26:57,458 --> 00:26:58,250 because obviously 1197 00:26:58,250 --> 00:26:58,833 you mentioned 1198 00:26:58,833 --> 00:27:01,416 you got in in 2014 1199 00:27:01,416 --> 00:27:03,208 and that was on the advice 1200 00:27:03,208 --> 00:27:03,875 of you, a friend. 1201 00:27:03,875 --> 00:27:05,083 So at what point 1202 00:27:05,083 --> 00:27:06,291 did you feel like you 1203 00:27:06,958 --> 00:27:08,708 truly understood Bitcoin. 1204 00:27:10,000 --> 00:27:10,375 They went, 1205 00:27:10,375 --> 00:27:11,583 okay like I know 1206 00:27:11,583 --> 00:27:12,791 now what I'm holding. 1207 00:27:13,166 --> 00:27:14,375 Holy shit. 1208 00:27:14,625 --> 00:27:15,833 Why? 1209 00:27:17,958 --> 00:27:19,125 I think so. 1210 00:27:19,125 --> 00:27:19,958 I've always been 1211 00:27:19,958 --> 00:27:20,875 sort of skeptical 1212 00:27:20,875 --> 00:27:22,083 of the government. 1213 00:27:24,125 --> 00:27:24,541 Before 1214 00:27:24,541 --> 00:27:25,708 it was sort of 1215 00:27:25,875 --> 00:27:27,000 mainstream today 1216 00:27:27,000 --> 00:27:28,208 on social media 1217 00:27:28,791 --> 00:27:29,958 I could see it, 1218 00:27:29,958 --> 00:27:31,083 you know 1219 00:27:31,083 --> 00:27:33,208 pre I think for me around 1220 00:27:33,208 --> 00:27:37,416 that 2016, era. 1221 00:27:37,583 --> 00:27:38,916 Yeah, I've always 1222 00:27:40,500 --> 00:27:41,500 because I was so 1223 00:27:41,500 --> 00:27:42,708 when I was into property 1224 00:27:43,541 --> 00:27:44,166 obviously around 1225 00:27:44,166 --> 00:27:45,666 that 2010 ish looking to buy 1226 00:27:45,666 --> 00:27:46,833 my first property, 1227 00:27:46,958 --> 00:27:47,833 and Bill 1228 00:27:47,833 --> 00:27:48,833 shorten came out 1229 00:27:48,833 --> 00:27:49,541 and he's like, oh, 1230 00:27:49,541 --> 00:27:50,041 we got to get rid 1231 00:27:50,041 --> 00:27:50,958 of negative gearing. 1232 00:27:50,958 --> 00:27:51,625 And I, you know, 1233 00:27:51,625 --> 00:27:52,833 I was always like, 1234 00:27:53,041 --> 00:27:54,291 why are you trying 1235 00:27:54,291 --> 00:27:56,125 to get rid of something 1236 00:27:56,375 --> 00:27:57,541 like it's it almost 1237 00:27:57,541 --> 00:27:59,083 feels like you're trying to, 1238 00:27:59,333 --> 00:28:01,791 pull the ladder 1239 00:28:01,791 --> 00:28:03,041 from underneath to right. 1240 00:28:03,125 --> 00:28:04,416 You, you know, 1241 00:28:04,416 --> 00:28:05,541 look, you need to 1242 00:28:05,541 --> 00:28:06,750 utilize negative 1243 00:28:06,750 --> 00:28:07,958 gearing to your benefit, 1244 00:28:08,458 --> 00:28:09,208 and you got 1245 00:28:09,208 --> 00:28:10,458 your capital gains tax 1246 00:28:10,458 --> 00:28:11,875 discounts to your benefit. 1247 00:28:12,166 --> 00:28:13,208 Now, you telling me that 1248 00:28:13,208 --> 00:28:14,708 I can't use it, right? 1249 00:28:14,708 --> 00:28:16,416 So it was kind of like 1250 00:28:16,541 --> 00:28:17,708 one rule for you 1251 00:28:17,708 --> 00:28:18,916 and one rule for me. 1252 00:28:18,958 --> 00:28:20,791 It's it never really set 1253 00:28:20,791 --> 00:28:21,500 well with me. 1254 00:28:21,500 --> 00:28:22,625 Right. 1255 00:28:22,625 --> 00:28:24,875 And and then like 1256 00:28:24,916 --> 00:28:26,375 it's sort of stuck with me. 1257 00:28:26,375 --> 00:28:28,375 And then in 2016, 1258 00:28:28,375 --> 00:28:30,000 2017, 2018, 1259 00:28:30,375 --> 00:28:31,541 I kind of stuck 1260 00:28:31,541 --> 00:28:32,458 with that thesis. 1261 00:28:33,541 --> 00:28:35,083 And until Covid came, it's 1262 00:28:35,083 --> 00:28:36,541 sort of invert 1263 00:28:36,541 --> 00:28:37,750 my belief. 1264 00:28:37,833 --> 00:28:39,375 And that was when, 1265 00:28:39,541 --> 00:28:40,708 you know, 1266 00:28:41,166 --> 00:28:41,458 obviously 1267 00:28:41,458 --> 00:28:43,041 Bitcoin had gone from 500, 1268 00:28:43,041 --> 00:28:44,125 that $500 1269 00:28:44,125 --> 00:28:45,208 to a couple 1270 00:28:45,208 --> 00:28:46,416 of thousand dollars. 1271 00:28:47,375 --> 00:28:49,083 So I saw it as like, wow, 1272 00:28:49,083 --> 00:28:50,291 this is actually 1273 00:28:50,416 --> 00:28:51,750 yes, it's torn down. 1274 00:28:51,750 --> 00:28:52,041 Yes. 1275 00:28:52,041 --> 00:28:52,291 It's done 1276 00:28:52,291 --> 00:28:53,541 nothing for a while, but 1277 00:28:53,541 --> 00:28:55,083 it's really up before 1278 00:28:55,083 --> 00:28:56,250 my superannuation. 1279 00:28:56,875 --> 00:28:57,875 It's outperformed 1280 00:28:57,875 --> 00:28:58,416 any penny 1281 00:28:58,416 --> 00:29:00,666 stock at at Forbes property. 1282 00:29:01,166 --> 00:29:02,375 Everything right. 1283 00:29:03,083 --> 00:29:04,250 So even though 1284 00:29:04,250 --> 00:29:05,250 I still continue 1285 00:29:05,250 --> 00:29:06,666 to buy through at time, 1286 00:29:06,958 --> 00:29:08,291 it's not like I was stacking 1287 00:29:08,291 --> 00:29:09,375 like thousands of dollars 1288 00:29:09,375 --> 00:29:10,541 because you got to remember 1289 00:29:10,791 --> 00:29:11,916 it was a completely different 1290 00:29:11,916 --> 00:29:12,166 time. 1291 00:29:12,166 --> 00:29:13,375 There were no books, 1292 00:29:13,833 --> 00:29:15,833 there were no seminars. 1293 00:29:15,833 --> 00:29:18,541 There was it was very niche 1294 00:29:18,958 --> 00:29:20,125 and fringe. 1295 00:29:20,125 --> 00:29:21,583 I mean, you think it's fringe 1296 00:29:21,583 --> 00:29:22,916 now, but back 1297 00:29:22,916 --> 00:29:24,166 then it wasn't, 1298 00:29:24,166 --> 00:29:24,833 you know, 1299 00:29:24,833 --> 00:29:26,208 we'd gone through Blocksize 1300 00:29:26,208 --> 00:29:27,416 wars. 1301 00:29:27,833 --> 00:29:28,500 The block height 1302 00:29:28,500 --> 00:29:29,250 when I first bought 1303 00:29:29,250 --> 00:29:30,875 was like 300,000. 1304 00:29:31,208 --> 00:29:32,833 It was very uncertain. 1305 00:29:33,000 --> 00:29:33,958 Was this thing 1306 00:29:33,958 --> 00:29:35,166 going to stay around? 1307 00:29:35,333 --> 00:29:36,541 People look at it, 1308 00:29:36,541 --> 00:29:37,416 you know, 1309 00:29:37,416 --> 00:29:38,375 people saw that, 1310 00:29:38,375 --> 00:29:39,291 like you talked 1311 00:29:39,291 --> 00:29:40,541 to 90% of people 1312 00:29:40,541 --> 00:29:42,250 who buy from that time, 1313 00:29:42,625 --> 00:29:43,833 they sell out if they, 1314 00:29:43,833 --> 00:29:44,916 you know, forex 1315 00:29:44,916 --> 00:29:46,083 or something like that, 1316 00:29:46,208 --> 00:29:46,666 they'll look at it 1317 00:29:46,666 --> 00:29:47,333 and I'll be like, oh, 1318 00:29:47,333 --> 00:29:47,625 I don't know 1319 00:29:47,625 --> 00:29:48,833 where it's going. 1320 00:29:48,833 --> 00:29:49,958 I've four times 1321 00:29:49,958 --> 00:29:51,125 my money, I'm out. 1322 00:29:51,541 --> 00:29:52,708 So for me, 1323 00:29:52,958 --> 00:29:53,708 I didn't really 1324 00:29:53,708 --> 00:29:54,875 need the money. 1325 00:29:55,166 --> 00:29:55,916 Right. 1326 00:29:55,916 --> 00:29:57,291 I continue to work, 1327 00:29:57,291 --> 00:29:58,500 I continue to buy. 1328 00:29:59,166 --> 00:30:00,958 So it was never something 1329 00:30:00,958 --> 00:30:02,791 I had to draw down on. 1330 00:30:03,375 --> 00:30:04,750 So that's why I again, 1331 00:30:04,750 --> 00:30:06,208 I think I got fortunate 1332 00:30:06,208 --> 00:30:07,541 because I think 1333 00:30:07,541 --> 00:30:08,041 it's something 1334 00:30:08,041 --> 00:30:09,500 really drastically 1335 00:30:09,500 --> 00:30:10,708 happened to Bitcoin. 1336 00:30:10,958 --> 00:30:12,333 Then 1337 00:30:12,333 --> 00:30:13,208 I probably would have sold 1338 00:30:13,208 --> 00:30:13,958 my positions. 1339 00:30:13,958 --> 00:30:14,791 Right? 1340 00:30:14,791 --> 00:30:15,958 So, I mean, 1341 00:30:15,958 --> 00:30:17,833 it wasn't up until 2020 1342 00:30:17,833 --> 00:30:19,333 when all of my thesis 1343 00:30:19,333 --> 00:30:20,541 was confirmed 1344 00:30:20,916 --> 00:30:21,958 in my opinion. 1345 00:30:21,958 --> 00:30:23,250 You know, Covid wasn't 1346 00:30:23,250 --> 00:30:23,791 a psyop 1347 00:30:23,791 --> 00:30:24,958 or anything like that, but 1348 00:30:25,125 --> 00:30:26,333 I think they used it 1349 00:30:26,583 --> 00:30:27,666 to take advantage 1350 00:30:27,666 --> 00:30:28,833 and to control people 1351 00:30:29,041 --> 00:30:30,208 unnecessarily. 1352 00:30:30,541 --> 00:30:33,333 So, 1353 00:30:33,333 --> 00:30:34,916 I mean, yeah, they had to do 1354 00:30:34,916 --> 00:30:36,125 what they had to do, right? 1355 00:30:36,541 --> 00:30:38,708 And, yeah, for me, 1356 00:30:39,666 --> 00:30:40,500 separating my 1357 00:30:40,500 --> 00:30:41,791 money from, 1358 00:30:42,125 --> 00:30:43,333 you know, 1359 00:30:43,416 --> 00:30:44,791 what people control 1360 00:30:45,208 --> 00:30:46,791 is was very important. 1361 00:30:46,791 --> 00:30:48,000 And I really 1362 00:30:48,250 --> 00:30:49,291 I started to really 1363 00:30:49,291 --> 00:30:50,458 double down on my position 1364 00:30:50,458 --> 00:30:51,125 during Covid 1365 00:30:51,125 --> 00:30:52,625 and I think, like 1366 00:30:52,625 --> 00:30:54,125 when you talk to people on X, 1367 00:30:54,625 --> 00:30:56,458 it's not, 1368 00:30:56,958 --> 00:30:57,875 most people joined 1369 00:30:57,875 --> 00:30:59,041 around that time. 1370 00:30:59,083 --> 00:31:01,083 So again, it confirms 1371 00:31:01,083 --> 00:31:02,291 my thesis that, 1372 00:31:02,541 --> 00:31:04,416 that around that time was 1373 00:31:04,416 --> 00:31:05,250 when it was sort 1374 00:31:05,250 --> 00:31:06,458 of obvious that, 1375 00:31:07,208 --> 00:31:08,250 hang on, 1376 00:31:08,250 --> 00:31:09,291 the printing money 1377 00:31:09,291 --> 00:31:11,041 like it's nobody's business 1378 00:31:11,500 --> 00:31:13,375 and the S&P just going up. 1379 00:31:13,375 --> 00:31:14,500 But it's kind of like 1380 00:31:14,500 --> 00:31:15,208 it's not going to change 1381 00:31:15,208 --> 00:31:16,416 a lot. Right. 1382 00:31:16,625 --> 00:31:17,708 It's not 1383 00:31:17,708 --> 00:31:18,208 it's it's 1384 00:31:18,208 --> 00:31:19,291 not freedom technology. 1385 00:31:19,291 --> 00:31:20,458 It's not freedom money. 1386 00:31:20,750 --> 00:31:21,708 You're at the whim 1387 00:31:21,708 --> 00:31:22,666 of politicians. 1388 00:31:22,666 --> 00:31:22,833 You're 1389 00:31:22,833 --> 00:31:23,250 at the whim 1390 00:31:23,250 --> 00:31:24,291 of big corporates. 1391 00:31:24,291 --> 00:31:25,416 Right. 1392 00:31:25,416 --> 00:31:26,833 And yeah, it was 1393 00:31:26,958 --> 00:31:28,375 I started to read the books 1394 00:31:28,625 --> 00:31:30,416 around that time 1395 00:31:30,708 --> 00:31:31,833 and it just 1396 00:31:31,833 --> 00:31:32,875 and I mean, 1397 00:31:32,875 --> 00:31:33,791 I would have 1398 00:31:33,791 --> 00:31:35,708 thought my super hour earlier 1399 00:31:36,291 --> 00:31:37,500 if I had the books, 1400 00:31:38,083 --> 00:31:39,750 but if Covid was soon on. 1401 00:31:39,875 --> 00:31:40,708 Right. 1402 00:31:40,708 --> 00:31:41,750 So unfortunately 1403 00:31:41,750 --> 00:31:43,166 I didn't do that so recently. 1404 00:31:43,166 --> 00:31:44,250 Right. 1405 00:31:44,250 --> 00:31:45,666 Yeah. 1406 00:31:46,041 --> 00:31:47,041 So whilst I'm 1407 00:31:47,041 --> 00:31:48,958 not 100% in Bitcoin, 1408 00:31:49,541 --> 00:31:50,750 I would say 1409 00:31:50,750 --> 00:31:51,958 I'm probably 1410 00:31:52,083 --> 00:31:53,291 I'll probably be around 1411 00:31:53,291 --> 00:31:54,583 that 70 to 80%. 1412 00:31:56,083 --> 00:31:57,333 Once I 1413 00:31:57,333 --> 00:31:58,791 look to sell my property, 1414 00:32:00,000 --> 00:32:01,166 my investment, 1415 00:32:01,166 --> 00:32:03,375 then I'll be a lot higher 1416 00:32:03,375 --> 00:32:04,958 as a percentage I guess. 1417 00:32:04,958 --> 00:32:06,333 So, yeah. 1418 00:32:06,458 --> 00:32:07,625 It's, 1419 00:32:07,708 --> 00:32:09,125 Yeah, I didn't really go 1420 00:32:09,125 --> 00:32:09,750 down that rabbit 1421 00:32:09,750 --> 00:32:10,625 hole of being fully 1422 00:32:10,625 --> 00:32:11,833 supported in 1423 00:32:12,041 --> 00:32:13,666 or until around that 2020. 1424 00:32:13,666 --> 00:32:15,458 So, I think that was 1425 00:32:15,666 --> 00:32:16,291 an important step. 1426 00:32:16,291 --> 00:32:16,708 But again, 1427 00:32:16,708 --> 00:32:18,333 it suited my thesis 1428 00:32:18,833 --> 00:32:20,041 since 2010 1429 00:32:20,041 --> 00:32:21,458 that, you know, not 1430 00:32:21,458 --> 00:32:21,750 to be 1431 00:32:21,750 --> 00:32:22,958 trustful of the government. 1432 00:32:23,375 --> 00:32:24,208 Take what they say 1433 00:32:24,208 --> 00:32:25,041 with a grain of salt, 1434 00:32:25,041 --> 00:32:26,375 be professionally skeptical. 1435 00:32:26,791 --> 00:32:27,958 So, yeah, 1436 00:32:28,958 --> 00:32:30,208 it's a really until recently, 1437 00:32:30,208 --> 00:32:31,500 I think a half a decade 1438 00:32:31,875 --> 00:32:33,083 is quite recent for me. 1439 00:32:33,083 --> 00:32:33,708 Yeah. 1440 00:32:33,708 --> 00:32:35,041 I want to pick up on 1441 00:32:35,041 --> 00:32:36,666 you saying 80%. 1442 00:32:36,666 --> 00:32:38,791 So is someone who's not a bit 1443 00:32:38,791 --> 00:32:40,208 corner is listening to this. 1444 00:32:40,208 --> 00:32:41,458 They might be having like 1445 00:32:41,458 --> 00:32:42,666 a what 1446 00:32:42,791 --> 00:32:43,958 is this man 1447 00:32:44,916 --> 00:32:45,541 like? 1448 00:32:45,541 --> 00:32:46,791 How risky is this? 1449 00:32:46,791 --> 00:32:48,000 So 1450 00:32:48,125 --> 00:32:48,958 do we want to talk 1451 00:32:48,958 --> 00:32:49,750 about the risk? 1452 00:32:49,750 --> 00:32:51,000 Because I hear this and 1453 00:32:51,000 --> 00:32:51,416 I don't 1454 00:32:51,416 --> 00:32:53,208 have a reaction at all. 1455 00:32:53,208 --> 00:32:54,041 I think, you know, 1456 00:32:54,041 --> 00:32:54,791 like of course 1457 00:32:54,791 --> 00:32:55,958 like it's to me 1458 00:32:55,958 --> 00:32:57,333 Bitcoin is money. 1459 00:32:57,333 --> 00:32:59,458 It's my money of choice. 1460 00:32:59,458 --> 00:33:01,375 I, I feel that it is. 1461 00:33:01,375 --> 00:33:02,791 And I think that it is, 1462 00:33:03,958 --> 00:33:05,208 a like 1463 00:33:05,208 --> 00:33:06,958 pristine form of collateral 1464 00:33:06,958 --> 00:33:07,958 and the best money 1465 00:33:07,958 --> 00:33:08,791 you can hold. 1466 00:33:08,791 --> 00:33:11,375 And this isn't an opinion 1467 00:33:11,375 --> 00:33:13,833 that's just been based on, 1468 00:33:15,458 --> 00:33:16,208 you know, 1469 00:33:16,208 --> 00:33:17,875 nothing or whims or. 1470 00:33:18,458 --> 00:33:19,250 Yeah, like 1471 00:33:19,250 --> 00:33:20,833 I think there's definitely, 1472 00:33:20,833 --> 00:33:22,666 a lot of study 1473 00:33:22,666 --> 00:33:23,791 that has gone behind it. 1474 00:33:23,791 --> 00:33:25,416 And I'm very, very confident 1475 00:33:25,666 --> 00:33:26,875 with my, 1476 00:33:27,666 --> 00:33:28,666 holdings. 1477 00:33:28,666 --> 00:33:29,416 What? 1478 00:33:29,416 --> 00:33:30,000 I'm not going to say 1479 00:33:30,000 --> 00:33:30,791 what percentage 1480 00:33:30,791 --> 00:33:33,458 they are, but, 1481 00:33:33,458 --> 00:33:34,666 what how would you 1482 00:33:34,916 --> 00:33:35,708 what would you say to 1483 00:33:35,708 --> 00:33:37,041 someone who's who's. 1484 00:33:37,041 --> 00:33:37,291 Yeah. 1485 00:33:37,291 --> 00:33:39,333 Coming in and hearing 80% 1486 00:33:39,833 --> 00:33:41,041 allocation to Bitcoin 1487 00:33:41,041 --> 00:33:42,250 of your entire net worth? 1488 00:33:42,250 --> 00:33:43,458 I think 1489 00:33:43,750 --> 00:33:44,666 so, yeah. 1490 00:33:44,666 --> 00:33:45,750 A lot of the people, 1491 00:33:45,750 --> 00:33:46,958 especially newbies, 1492 00:33:47,458 --> 00:33:47,750 they, 1493 00:33:47,750 --> 00:33:49,500 they see that on Instagram 1494 00:33:49,500 --> 00:33:52,083 and they look at coaches. 1495 00:33:52,416 --> 00:33:52,833 Right. 1496 00:33:52,833 --> 00:33:54,083 And to me it's like 1497 00:33:54,166 --> 00:33:55,375 that's not research. 1498 00:33:55,666 --> 00:33:56,708 Right? 1499 00:33:56,708 --> 00:33:59,583 You need to like the books 1500 00:34:00,000 --> 00:34:00,875 I wouldn't recommend. 1501 00:34:00,875 --> 00:34:02,291 So I don't recommend people, 1502 00:34:02,291 --> 00:34:02,916 you know, 1503 00:34:02,916 --> 00:34:04,083 look at Michael Sila. 1504 00:34:04,625 --> 00:34:06,750 Look at Natalie Brunel. 1505 00:34:07,166 --> 00:34:09,375 All those popular 1506 00:34:09,375 --> 00:34:10,583 Jack malas. 1507 00:34:10,750 --> 00:34:12,791 I tell people to 1508 00:34:13,083 --> 00:34:14,250 look at the people 1509 00:34:14,250 --> 00:34:15,625 that have done the research. 1510 00:34:15,625 --> 00:34:20,041 So, I mean, you can take 1511 00:34:20,041 --> 00:34:20,666 what people say 1512 00:34:20,666 --> 00:34:22,125 with a grain of salt, but, 1513 00:34:22,750 --> 00:34:23,125 I mean, there's 1514 00:34:23,125 --> 00:34:23,916 a handful of people 1515 00:34:23,916 --> 00:34:24,833 who I respect 1516 00:34:24,833 --> 00:34:26,041 in the industry, and 1517 00:34:26,208 --> 00:34:27,583 a few of them are Americans. 1518 00:34:27,583 --> 00:34:28,958 So I look at, 1519 00:34:28,958 --> 00:34:30,458 I follow a guy named Fred 1520 00:34:30,458 --> 00:34:31,625 Krueger who 1521 00:34:31,791 --> 00:34:32,750 he who has a, 1522 00:34:32,750 --> 00:34:34,208 PhD in mathematics 1523 00:34:34,208 --> 00:34:35,583 from Stanford University. 1524 00:34:36,000 --> 00:34:37,208 He talks about 1525 00:34:37,208 --> 00:34:38,583 how Bitcoin is on a parallel. 1526 00:34:39,125 --> 00:34:40,416 And I look at, 1527 00:34:40,458 --> 00:34:42,458 I really respect plant, 1528 00:34:42,458 --> 00:34:43,416 see and seen, 1529 00:34:43,416 --> 00:34:44,750 from 21st capital. 1530 00:34:45,333 --> 00:34:47,041 These guys, 1531 00:34:47,250 --> 00:34:49,666 incredible 1532 00:34:49,666 --> 00:34:50,875 bitcoin analysts 1533 00:34:51,083 --> 00:34:52,500 and they develop the plants, 1534 00:34:52,500 --> 00:34:53,333 they develop the 1535 00:34:53,333 --> 00:34:54,708 Bitcoin quantum method. 1536 00:34:56,750 --> 00:34:57,500 It's based 1537 00:34:57,500 --> 00:34:58,708 on, you know, 1538 00:34:58,833 --> 00:35:00,333 130,000 1539 00:35:00,333 --> 00:35:01,583 plus data points, 1540 00:35:01,875 --> 00:35:03,333 which every single data 1541 00:35:03,333 --> 00:35:04,583 point in Bitcoin's history. 1542 00:35:05,000 --> 00:35:06,541 And they have modeled it out 1543 00:35:06,958 --> 00:35:08,166 as a probability. 1544 00:35:08,250 --> 00:35:08,750 Right. 1545 00:35:08,750 --> 00:35:10,458 Where it's going to be ten, 1546 00:35:10,666 --> 00:35:11,666 20 years time. 1547 00:35:11,666 --> 00:35:13,625 So I think, I think the based 1548 00:35:13,625 --> 00:35:15,166 on the length of history 1549 00:35:15,166 --> 00:35:15,875 that we have now, 1550 00:35:15,875 --> 00:35:17,041 which is 16 years 1551 00:35:17,458 --> 00:35:18,291 in mathematics, 1552 00:35:18,291 --> 00:35:20,291 you can't really model out 1553 00:35:20,291 --> 00:35:22,000 further than ten years, 1554 00:35:22,000 --> 00:35:22,708 because anything 1555 00:35:22,708 --> 00:35:24,958 after that, it's just figure 1556 00:35:25,041 --> 00:35:26,250 in the air kind of thing. 1557 00:35:26,333 --> 00:35:27,291 So ten years 1558 00:35:27,291 --> 00:35:28,666 is kind of the optimal point 1559 00:35:28,666 --> 00:35:29,875 five, ten years. 1560 00:35:30,125 --> 00:35:31,291 And he has done that. 1561 00:35:31,291 --> 00:35:33,291 And it breaks up 1562 00:35:33,541 --> 00:35:34,666 the price, 1563 00:35:34,666 --> 00:35:36,083 range 1564 00:35:36,333 --> 00:35:37,958 into sort of probabilities. 1565 00:35:37,958 --> 00:35:38,916 Right. 1566 00:35:38,916 --> 00:35:40,958 And if it gets, you know, 1567 00:35:40,958 --> 00:35:42,166 to a point of, 1568 00:35:42,416 --> 00:35:43,375 a price point 1569 00:35:43,375 --> 00:35:45,458 where, he believes, 1570 00:35:45,666 --> 00:35:47,166 according to that time, 1571 00:35:47,583 --> 00:35:48,958 the Bitcoin's been alive, 1572 00:35:49,625 --> 00:35:51,625 how much time has bitcoin 1573 00:35:51,833 --> 00:35:53,166 been in that range 1574 00:35:53,250 --> 00:35:54,166 for its life 1575 00:35:54,166 --> 00:35:55,500 so obviously today. 1576 00:35:55,500 --> 00:35:56,708 But what did he say 1577 00:35:56,708 --> 00:35:57,958 $200,000. 1578 00:35:58,291 --> 00:35:59,208 Bitcoin has been 1579 00:35:59,208 --> 00:36:01,083 in that overheated area 1580 00:36:01,458 --> 00:36:03,500 for only 5% of its life. 1581 00:36:03,500 --> 00:36:04,166 And the inverse 1582 00:36:04,166 --> 00:36:05,166 can be true to 1583 00:36:05,166 --> 00:36:06,375 at the lower portion. 1584 00:36:06,583 --> 00:36:07,625 So it's based 1585 00:36:07,625 --> 00:36:08,708 on probabilities 1586 00:36:08,708 --> 00:36:10,000 and it's based on ranges. 1587 00:36:10,375 --> 00:36:12,666 So I respect people like that 1588 00:36:12,666 --> 00:36:14,166 that have done the research. 1589 00:36:14,541 --> 00:36:16,708 I can't tell you 1590 00:36:16,708 --> 00:36:18,333 how much research I have done 1591 00:36:19,166 --> 00:36:20,833 the thousands of hours 1592 00:36:20,833 --> 00:36:22,041 over my time. 1593 00:36:22,083 --> 00:36:23,791 And when people come to me 1594 00:36:23,791 --> 00:36:24,958 and they say, oh, you know, 1595 00:36:24,958 --> 00:36:26,166 these coaches 1596 00:36:26,208 --> 00:36:27,333 said it's going to drop. 1597 00:36:27,333 --> 00:36:28,375 And, you know, 1598 00:36:28,375 --> 00:36:29,875 it's it's a psyop. 1599 00:36:29,875 --> 00:36:31,833 It's it's by the CIA. 1600 00:36:32,250 --> 00:36:34,041 They just don't understand 1601 00:36:34,041 --> 00:36:34,666 Bitcoin. 1602 00:36:34,666 --> 00:36:36,041 They, they clicking on, 1603 00:36:36,083 --> 00:36:37,708 you know, clickbait titles 1604 00:36:38,125 --> 00:36:38,916 and they're not thinking 1605 00:36:38,916 --> 00:36:39,875 for themselves. 1606 00:36:39,875 --> 00:36:41,041 Right. 1607 00:36:41,166 --> 00:36:43,208 So and I compare you know 1608 00:36:43,208 --> 00:36:45,958 I compare the fiat system to 1609 00:36:46,250 --> 00:36:47,166 I think 1610 00:36:47,166 --> 00:36:48,000 Fiat's the biggest 1611 00:36:48,000 --> 00:36:48,750 Ponzi around. 1612 00:36:48,750 --> 00:36:49,583 Right. 1613 00:36:49,583 --> 00:36:50,833 So it's like which, 1614 00:36:51,125 --> 00:36:52,208 which Ponzi 1615 00:36:52,208 --> 00:36:52,833 do you want to be. 1616 00:36:52,833 --> 00:36:53,250 Do you want to be 1617 00:36:53,250 --> 00:36:54,458 in a fiat system 1618 00:36:54,666 --> 00:36:54,875 or do 1619 00:36:54,875 --> 00:36:55,291 you want to be in 1620 00:36:55,291 --> 00:36:56,166 the Bitcoin system, 1621 00:36:56,166 --> 00:36:57,333 which to me 1622 00:36:57,500 --> 00:36:58,250 looks like you want 1623 00:36:58,250 --> 00:36:58,708 to be part 1624 00:36:58,708 --> 00:36:59,916 of the Bitcoin system. 1625 00:37:00,083 --> 00:37:00,875 You just don't know 1626 00:37:00,875 --> 00:37:01,750 that, right? 1627 00:37:01,750 --> 00:37:03,000 You can't you don't have that 1628 00:37:03,000 --> 00:37:04,208 sort of that, 1629 00:37:04,708 --> 00:37:06,541 that way of thinking, 1630 00:37:06,541 --> 00:37:07,750 that skepticism, 1631 00:37:07,916 --> 00:37:09,250 skepticism 1632 00:37:09,250 --> 00:37:10,833 or that self-reflection. 1633 00:37:10,833 --> 00:37:12,333 So hey, Bitcoin 1634 00:37:12,333 --> 00:37:14,208 is actually suited 1635 00:37:14,541 --> 00:37:16,250 to my investing thesis 1636 00:37:16,250 --> 00:37:17,625 and my political thesis. 1637 00:37:17,625 --> 00:37:18,000 Right? 1638 00:37:19,708 --> 00:37:19,958 Yeah. 1639 00:37:19,958 --> 00:37:20,625 I think it's 1640 00:37:20,625 --> 00:37:21,458 also being a bit, 1641 00:37:21,458 --> 00:37:22,666 you know, self-aware 1642 00:37:22,666 --> 00:37:23,875 and realizing that. 1643 00:37:24,083 --> 00:37:25,250 And some people I don't know, 1644 00:37:25,250 --> 00:37:26,458 they just need to sort of 1645 00:37:27,125 --> 00:37:28,708 because traditional trad 1646 00:37:28,708 --> 00:37:30,458 fi is, is, is 1647 00:37:30,458 --> 00:37:31,666 is ingrained in us 1648 00:37:31,916 --> 00:37:33,000 everywhere. 1649 00:37:33,000 --> 00:37:33,750 It's what people 1650 00:37:33,750 --> 00:37:35,041 and you get that bias. 1651 00:37:35,041 --> 00:37:36,291 That is the first thing 1652 00:37:36,291 --> 00:37:37,333 people tell you to 1653 00:37:37,333 --> 00:37:38,541 to invest in. 1654 00:37:38,708 --> 00:37:39,833 So it's very hard 1655 00:37:39,833 --> 00:37:40,833 to break those trap 1656 00:37:40,833 --> 00:37:42,000 that that chain. 1657 00:37:43,208 --> 00:37:44,375 So I encourage 1658 00:37:44,375 --> 00:37:45,291 people to read the books. 1659 00:37:45,291 --> 00:37:46,083 I've got the books 1660 00:37:46,083 --> 00:37:47,250 and I give them to people. 1661 00:37:47,791 --> 00:37:50,208 And yeah, it's funny 1662 00:37:50,208 --> 00:37:50,791 because people who 1663 00:37:50,791 --> 00:37:52,291 read a few pages 1664 00:37:52,500 --> 00:37:53,708 and they come to me and they, 1665 00:37:53,833 --> 00:37:54,958 they take a snippet 1666 00:37:54,958 --> 00:37:56,791 at what sort of what they, 1667 00:37:57,458 --> 00:37:58,708 what came out to the most, 1668 00:37:58,708 --> 00:37:59,916 what spoke to the most. 1669 00:38:00,000 --> 00:38:01,125 And they'll, they'll say, oh, 1670 00:38:01,125 --> 00:38:02,333 this is what you believe. 1671 00:38:03,041 --> 00:38:03,958 I'm like, yeah, well, 1672 00:38:03,958 --> 00:38:04,708 think about it. 1673 00:38:04,708 --> 00:38:05,375 You know, don't 1674 00:38:05,375 --> 00:38:06,208 just listen to me. 1675 00:38:06,208 --> 00:38:06,458 Don't 1676 00:38:06,458 --> 00:38:07,625 just listen to the book. 1677 00:38:07,750 --> 00:38:09,166 Think about that sentence 1678 00:38:09,416 --> 00:38:11,541 and how it sort of it 1679 00:38:11,541 --> 00:38:12,750 resonates with you. 1680 00:38:12,750 --> 00:38:14,041 Does it doesn't resonate 1681 00:38:14,041 --> 00:38:15,000 with you at all. 1682 00:38:15,000 --> 00:38:15,750 Clearly it did, 1683 00:38:15,750 --> 00:38:16,125 because you're 1684 00:38:16,125 --> 00:38:17,291 highlighting it to me. 1685 00:38:17,291 --> 00:38:18,166 Right. 1686 00:38:18,166 --> 00:38:20,041 So, it's 1687 00:38:20,250 --> 00:38:21,583 it's people's behavior. 1688 00:38:21,583 --> 00:38:22,833 It's very interesting. 1689 00:38:22,916 --> 00:38:23,916 Yeah. 1690 00:38:23,916 --> 00:38:25,166 I've learned a lot 1691 00:38:25,166 --> 00:38:26,375 about people 1692 00:38:26,416 --> 00:38:27,333 and myself during 1693 00:38:27,333 --> 00:38:28,291 my Bitcoin journey. 1694 00:38:28,291 --> 00:38:29,500 So yeah. 1695 00:38:50,458 --> 00:38:51,166 Yeah, I 1696 00:38:51,166 --> 00:38:52,166 absolutely believe 1697 00:38:52,166 --> 00:38:53,458 that Bitcoin would align 1698 00:38:53,458 --> 00:38:54,666 with most people's 1699 00:38:54,833 --> 00:38:55,708 core values 1700 00:38:55,708 --> 00:38:56,666 if they took the time 1701 00:38:56,666 --> 00:38:57,875 to understand it. 1702 00:38:57,958 --> 00:38:59,666 I can't imagine that, 1703 00:38:59,666 --> 00:39:00,791 you know, the average person 1704 00:39:00,791 --> 00:39:02,166 I like out of 100 people, 1705 00:39:02,416 --> 00:39:04,916 I would probably say 97. 1706 00:39:04,916 --> 00:39:05,875 If they really understood 1707 00:39:05,875 --> 00:39:06,333 Bitcoin, 1708 00:39:06,333 --> 00:39:07,708 they would still be like, 1709 00:39:07,708 --> 00:39:08,958 yeah, this is a much, 1710 00:39:08,958 --> 00:39:10,166 much better system. 1711 00:39:10,375 --> 00:39:10,916 But what is it 1712 00:39:10,916 --> 00:39:11,916 going to ask you? Yes. 1713 00:39:11,916 --> 00:39:13,541 About the Paolo 1714 00:39:13,541 --> 00:39:15,000 and the quantile. 1715 00:39:15,291 --> 00:39:15,750 What is it called. 1716 00:39:15,750 --> 00:39:17,041 Quantile method or 1717 00:39:17,041 --> 00:39:18,208 quantile model. 1718 00:39:18,625 --> 00:39:19,791 Model. Yeah. 1719 00:39:19,875 --> 00:39:21,750 I don't follow models 1720 00:39:21,750 --> 00:39:22,416 because I 1721 00:39:22,416 --> 00:39:23,791 ultimately don't care. 1722 00:39:23,791 --> 00:39:26,250 If, if it's going to be 1723 00:39:26,250 --> 00:39:27,416 a more conservative 1724 00:39:27,416 --> 00:39:28,916 or a more bullish outcome. 1725 00:39:29,583 --> 00:39:30,166 Definitely not 1726 00:39:30,166 --> 00:39:31,041 for the long term. 1727 00:39:31,041 --> 00:39:31,791 I do have more 1728 00:39:31,791 --> 00:39:33,458 conservative estimates, 1729 00:39:33,458 --> 00:39:35,333 but the quanto 1730 00:39:35,416 --> 00:39:37,250 sorry, the Paolo myth. 1731 00:39:37,416 --> 00:39:37,708 Sorry. 1732 00:39:37,708 --> 00:39:38,875 The Paolo model. 1733 00:39:39,083 --> 00:39:40,041 Isn't that one quite 1734 00:39:40,041 --> 00:39:41,666 bullish from memory? 1735 00:39:43,416 --> 00:39:44,416 I think there's a few. 1736 00:39:44,416 --> 00:39:45,000 I think there's like 1737 00:39:45,000 --> 00:39:46,208 stock to flow. 1738 00:39:46,500 --> 00:39:48,416 And which is 1739 00:39:48,416 --> 00:39:49,625 extremely bullish. 1740 00:39:49,833 --> 00:39:50,916 And whereas 1741 00:39:50,916 --> 00:39:52,166 that has been debunked. 1742 00:39:52,375 --> 00:39:53,208 Yeah. 1743 00:39:53,208 --> 00:39:54,125 Like it's not really 1744 00:39:54,125 --> 00:39:55,416 well respected anymore. 1745 00:39:55,458 --> 00:39:56,458 Yeah. 1746 00:39:56,458 --> 00:39:57,541 Correct. Exactly. 1747 00:39:57,541 --> 00:39:58,791 Whereas the Palo 1748 00:39:58,791 --> 00:40:00,250 Alto things 1749 00:40:00,500 --> 00:40:01,708 like for example, 1750 00:40:01,708 --> 00:40:02,916 a network, 1751 00:40:03,083 --> 00:40:04,166 you can look at Facebook, 1752 00:40:04,166 --> 00:40:05,375 you can look at the internet, 1753 00:40:05,666 --> 00:40:07,500 and Bitcoin is one of them. 1754 00:40:07,958 --> 00:40:09,541 They all operate on a pelo. 1755 00:40:09,625 --> 00:40:10,541 Right. 1756 00:40:10,541 --> 00:40:12,208 And the palo 1757 00:40:12,875 --> 00:40:15,208 if developed say, 1758 00:40:15,208 --> 00:40:16,416 ten years ago, 1759 00:40:16,500 --> 00:40:18,000 is able to predict 1760 00:40:18,708 --> 00:40:20,041 the Bitcoin price 1761 00:40:20,041 --> 00:40:20,833 over the last, 1762 00:40:20,833 --> 00:40:22,208 you know, five, ten years. 1763 00:40:22,250 --> 00:40:22,583 Right. 1764 00:40:22,583 --> 00:40:24,125 It was able to do that using 1765 00:40:24,666 --> 00:40:25,791 the first 1766 00:40:25,791 --> 00:40:27,166 five years of its data. 1767 00:40:27,166 --> 00:40:28,291 It was able to then model 1768 00:40:28,291 --> 00:40:29,541 that the next ten years, 1769 00:40:29,541 --> 00:40:30,833 right to quite 1770 00:40:31,083 --> 00:40:32,166 very close precision. 1771 00:40:33,750 --> 00:40:34,958 It's 1772 00:40:35,375 --> 00:40:36,000 when you look at the 1773 00:40:36,000 --> 00:40:37,208 power law, 1774 00:40:37,291 --> 00:40:38,708 it's not to me 1775 00:40:39,250 --> 00:40:40,291 though, it's the way 1776 00:40:40,291 --> 00:40:42,541 when if you listen to Clancy 1777 00:40:42,541 --> 00:40:43,791 and when he, 1778 00:40:43,791 --> 00:40:44,791 when he does interviews 1779 00:40:44,791 --> 00:40:45,791 I listen to, 1780 00:40:45,791 --> 00:40:47,708 he's like, he's phenomenal. 1781 00:40:47,708 --> 00:40:48,166 If you want to 1782 00:40:48,166 --> 00:40:48,833 listen to someone 1783 00:40:48,833 --> 00:40:51,208 who is very well grounded 1784 00:40:51,541 --> 00:40:52,625 and he's not going to 1785 00:40:52,625 --> 00:40:53,875 post you or, 1786 00:40:53,875 --> 00:40:55,416 you know, be overzealous 1787 00:40:55,416 --> 00:40:56,625 with price prediction, 1788 00:40:56,958 --> 00:40:58,333 he's fantastic, 1789 00:40:58,333 --> 00:40:59,541 right? 1790 00:40:59,750 --> 00:41:01,791 So the way he describes 1791 00:41:01,791 --> 00:41:03,000 it is. 1792 00:41:04,625 --> 00:41:05,458 Enables 1793 00:41:05,458 --> 00:41:06,666 people to, 1794 00:41:06,833 --> 00:41:08,541 sort of double 1795 00:41:08,541 --> 00:41:10,125 down on their position. 1796 00:41:10,125 --> 00:41:10,875 Right. 1797 00:41:10,875 --> 00:41:11,541 You look at it 1798 00:41:11,541 --> 00:41:12,916 and say Bitcoin 1799 00:41:13,083 --> 00:41:14,458 hits 200 K today. 1800 00:41:15,083 --> 00:41:16,583 The the quantile method 1801 00:41:16,875 --> 00:41:18,125 will look at it and say, 1802 00:41:18,208 --> 00:41:18,958 well we're 1803 00:41:18,958 --> 00:41:19,875 we're overheated 1804 00:41:19,875 --> 00:41:20,458 at the moment. 1805 00:41:20,458 --> 00:41:21,500 It's probably the best. 1806 00:41:21,500 --> 00:41:21,833 It's not the 1807 00:41:21,833 --> 00:41:23,041 best time to buy. 1808 00:41:23,083 --> 00:41:24,333 Don't sell your position 1809 00:41:24,333 --> 00:41:25,791 right, because it's obviously 1810 00:41:25,791 --> 00:41:26,125 going to be 1811 00:41:26,125 --> 00:41:27,375 a lot higher in the future, 1812 00:41:27,375 --> 00:41:28,000 but it's 1813 00:41:28,000 --> 00:41:29,250 probably not the best time 1814 00:41:29,250 --> 00:41:30,833 to continue to do it yet. 1815 00:41:31,166 --> 00:41:31,958 Right. 1816 00:41:31,958 --> 00:41:32,791 And then it will tell you 1817 00:41:32,791 --> 00:41:33,958 on the inverse, where 1818 00:41:34,375 --> 00:41:35,541 there is value, 1819 00:41:35,791 --> 00:41:36,958 there is opportunity. 1820 00:41:36,958 --> 00:41:38,125 Now is probably the good time 1821 00:41:38,125 --> 00:41:39,333 to really stack 1822 00:41:39,750 --> 00:41:41,166 and for 1823 00:41:41,166 --> 00:41:42,375 most of Bitcoin's life, 1824 00:41:42,375 --> 00:41:43,583 like where we are today, 1825 00:41:43,583 --> 00:41:44,000 we're kind of 1826 00:41:44,000 --> 00:41:45,416 in that sort of transition 1827 00:41:45,416 --> 00:41:46,541 middle zone. 1828 00:41:46,541 --> 00:41:47,500 It's the yellow zone 1829 00:41:47,500 --> 00:41:48,916 where it just opens. 1830 00:41:48,916 --> 00:41:50,291 It's kind of take it's 1831 00:41:50,291 --> 00:41:51,583 it's in the take up zone. 1832 00:41:51,583 --> 00:41:53,250 It could go up or go down, 1833 00:41:53,250 --> 00:41:54,458 but at the moment 1834 00:41:54,833 --> 00:41:56,583 I think it will go to 1835 00:41:57,083 --> 00:41:58,291 the upside in the next 1836 00:41:58,583 --> 00:41:59,791 3 to 6 months. 1837 00:42:00,291 --> 00:42:02,166 So to me it's 1838 00:42:02,166 --> 00:42:03,750 not a, it's 1839 00:42:03,750 --> 00:42:04,916 not okay. 1840 00:42:05,291 --> 00:42:05,666 I know 1841 00:42:05,666 --> 00:42:06,500 we're going to be higher. 1842 00:42:06,500 --> 00:42:07,375 It's not 1843 00:42:07,375 --> 00:42:07,791 are we going to be 1844 00:42:07,791 --> 00:42:09,000 $10 billion in, 1845 00:42:09,000 --> 00:42:10,125 you know, five years time? 1846 00:42:10,125 --> 00:42:12,083 It's not it's not telling. 1847 00:42:12,125 --> 00:42:12,791 I don't really care 1848 00:42:12,791 --> 00:42:13,916 about the price. 1849 00:42:13,916 --> 00:42:14,333 I know 1850 00:42:14,333 --> 00:42:15,541 it's going to be higher. 1851 00:42:15,625 --> 00:42:16,166 Right. 1852 00:42:16,166 --> 00:42:17,458 I just want to see where 1853 00:42:17,458 --> 00:42:18,708 I'm going to get my value. 1854 00:42:19,083 --> 00:42:19,958 And it's sort of 1855 00:42:19,958 --> 00:42:21,750 when we drop, say, 50%. 1856 00:42:22,500 --> 00:42:24,708 Then I think again, 1857 00:42:24,708 --> 00:42:25,916 it sort of 1858 00:42:26,083 --> 00:42:27,333 I don't have to talk 1859 00:42:27,333 --> 00:42:28,916 to people and sort of confirm 1860 00:42:28,916 --> 00:42:30,000 my own bias. 1861 00:42:30,000 --> 00:42:31,291 I can just look at the data 1862 00:42:31,291 --> 00:42:32,375 and I can say, hey, 1863 00:42:32,375 --> 00:42:33,750 we've been in this position 1864 00:42:33,750 --> 00:42:35,125 before, right? 1865 00:42:35,750 --> 00:42:36,458 And it was, 1866 00:42:36,458 --> 00:42:36,958 it was 1867 00:42:36,958 --> 00:42:37,916 it was a perfect time 1868 00:42:37,916 --> 00:42:39,208 to continue to stack 1869 00:42:39,375 --> 00:42:40,125 more Bitcoin. 1870 00:42:41,166 --> 00:42:41,541 So we're 1871 00:42:41,541 --> 00:42:42,750 going through it again now 1872 00:42:42,958 --> 00:42:44,166 then I know that 1873 00:42:44,166 --> 00:42:45,166 in five years time 1874 00:42:45,166 --> 00:42:46,291 we're going to be high up. 1875 00:42:46,291 --> 00:42:47,500 The price doesn't matter. 1876 00:42:47,708 --> 00:42:49,791 You know it could be 300. 1877 00:42:49,791 --> 00:42:50,625 It could be 500. 1878 00:42:50,625 --> 00:42:51,541 It could be 250. 1879 00:42:51,541 --> 00:42:52,250 Whatever 1880 00:42:52,250 --> 00:42:52,625 I know it's 1881 00:42:52,625 --> 00:42:53,333 going to be higher. 1882 00:42:53,333 --> 00:42:54,666 So it's perfect time to 1883 00:42:54,958 --> 00:42:55,958 continue to stack. 1884 00:42:55,958 --> 00:42:57,208 So that's the way 1885 00:42:57,208 --> 00:42:58,083 I look at it. 1886 00:42:58,083 --> 00:43:00,541 I mean it does say 1887 00:43:00,583 --> 00:43:03,291 if I, you know, 2034 1888 00:43:03,541 --> 00:43:05,625 that will range between, 1889 00:43:05,916 --> 00:43:07,500 you know, 801.2 1890 00:43:07,500 --> 00:43:08,708 million 1891 00:43:09,125 --> 00:43:11,375 around that sort of 20, 34, 1892 00:43:11,416 --> 00:43:12,833 2032 area. 1893 00:43:13,291 --> 00:43:14,458 And that's US 1894 00:43:14,458 --> 00:43:15,625 dollars. 1895 00:43:16,083 --> 00:43:17,291 So it's me, like, 1896 00:43:17,583 --> 00:43:18,708 you can call Michael, say 1897 00:43:18,708 --> 00:43:19,208 like, you know, 1898 00:43:19,208 --> 00:43:22,333 like grifter or, a seller 1899 00:43:22,333 --> 00:43:22,875 or whatever 1900 00:43:22,875 --> 00:43:24,083 you want to call him. 1901 00:43:24,833 --> 00:43:26,041 And he, 1902 00:43:26,125 --> 00:43:26,791 he's right 1903 00:43:26,791 --> 00:43:28,000 when he says, you know, 1904 00:43:28,125 --> 00:43:29,125 we're getting a 1905 00:43:29,125 --> 00:43:30,541 90% discount today, 1906 00:43:30,666 --> 00:43:32,458 which I believe is true 1907 00:43:32,791 --> 00:43:33,625 because I know 1908 00:43:33,625 --> 00:43:34,791 it's going higher. 1909 00:43:34,791 --> 00:43:36,166 The level of adoption 1910 00:43:36,166 --> 00:43:37,375 will continue 1911 00:43:37,500 --> 00:43:38,458 as more people 1912 00:43:38,458 --> 00:43:39,666 say it right? 1913 00:43:40,375 --> 00:43:41,958 So so, so, 1914 00:43:42,000 --> 00:43:43,791 so I just use the power law 1915 00:43:43,791 --> 00:43:45,000 and the quantile method 1916 00:43:45,291 --> 00:43:46,291 to, to basically 1917 00:43:46,291 --> 00:43:47,458 just confirm 1918 00:43:47,625 --> 00:43:48,625 when it's 1919 00:43:48,625 --> 00:43:49,916 when I'm getting more value 1920 00:43:49,916 --> 00:43:51,458 for my, for my dollar. 1921 00:43:51,583 --> 00:43:52,333 Right. 1922 00:43:52,333 --> 00:43:53,041 And that's the best. 1923 00:43:53,041 --> 00:43:54,333 I mean, so 1924 00:43:54,958 --> 00:43:57,208 I mean this is no worse 1925 00:43:57,208 --> 00:43:57,541 time, 1926 00:43:57,541 --> 00:43:59,333 no bad time to buy Bitcoin. 1927 00:43:59,625 --> 00:44:00,625 But if you want more 1928 00:44:00,625 --> 00:44:02,125 bitcoin for your dollar 1929 00:44:02,375 --> 00:44:03,791 then it will give you the 1930 00:44:03,791 --> 00:44:05,291 best time in my opinion. 1931 00:44:06,416 --> 00:44:06,833 Right. 1932 00:44:06,833 --> 00:44:08,041 That's interesting. 1933 00:44:08,500 --> 00:44:09,750 So is it fair 1934 00:44:09,750 --> 00:44:11,583 to assume that you don't do 1935 00:44:11,875 --> 00:44:13,708 DCA or do you, 1936 00:44:13,708 --> 00:44:15,958 do you wait for Bitcoin 1937 00:44:15,958 --> 00:44:16,916 to go on sale 1938 00:44:16,916 --> 00:44:17,416 or do you have 1939 00:44:17,416 --> 00:44:18,958 like a strategy where you, 1940 00:44:19,291 --> 00:44:19,666 you know, 1941 00:44:19,666 --> 00:44:20,625 a certain percentage, 1942 00:44:20,625 --> 00:44:22,458 a certain percentage 1943 00:44:22,458 --> 00:44:23,916 you leave aside for those, 1944 00:44:24,750 --> 00:44:25,958 you know, 1945 00:44:26,666 --> 00:44:27,208 quick tips? 1946 00:44:27,208 --> 00:44:28,416 1947 00:44:29,500 --> 00:44:30,666 So right now 1948 00:44:30,666 --> 00:44:31,875 I'm kind of, 1949 00:44:32,416 --> 00:44:34,083 I'm out of fear, right? 1950 00:44:34,625 --> 00:44:35,875 Because I believe 1951 00:44:35,875 --> 00:44:38,250 getting in at 100 K or 90 K 1952 00:44:38,250 --> 00:44:39,750 120 K, 1953 00:44:41,083 --> 00:44:42,333 we're so far 1954 00:44:42,333 --> 00:44:43,708 from where this is going 1955 00:44:43,708 --> 00:44:45,041 that I'm happy to, 1956 00:44:45,041 --> 00:44:46,250 you know, to 1957 00:44:46,500 --> 00:44:47,500 just buy 1958 00:44:47,500 --> 00:44:48,625 whenever I get money. 1959 00:44:48,625 --> 00:44:49,833 Right. 1960 00:44:49,833 --> 00:44:51,791 It's only, I think for me 1961 00:44:51,958 --> 00:44:52,583 personally, 1962 00:44:52,583 --> 00:44:53,833 I'll probably stop 1963 00:44:54,333 --> 00:44:55,625 once we hit around 1964 00:44:55,625 --> 00:44:57,166 that 150 over the next. 1965 00:44:57,500 --> 00:44:58,666 So time and price 1966 00:44:58,666 --> 00:44:59,875 is very important. 1967 00:45:00,541 --> 00:45:01,375 What you see 1968 00:45:01,375 --> 00:45:02,583 in three months 1969 00:45:02,583 --> 00:45:03,791 time is very different 1970 00:45:03,791 --> 00:45:06,291 to 152 year time. 1971 00:45:07,041 --> 00:45:07,375 Right? 1972 00:45:08,916 --> 00:45:10,750 So if we get 150 the 1973 00:45:10,750 --> 00:45:12,125 next 3 to 6 months, 1974 00:45:12,125 --> 00:45:13,333 I'll stop. 1975 00:45:13,500 --> 00:45:14,291 I'll stop. 1976 00:45:14,291 --> 00:45:14,583 If it's 1977 00:45:14,583 --> 00:45:16,541 when everyone else is going 1978 00:45:16,541 --> 00:45:17,916 in, that's when you stops. 1979 00:45:18,416 --> 00:45:19,541 Correct? 1980 00:45:19,541 --> 00:45:20,750 That's 100%. 1981 00:45:20,833 --> 00:45:21,125 You know, 1982 00:45:21,125 --> 00:45:22,333 when we had multiple silos, 1983 00:45:22,333 --> 00:45:23,333 100 K party 1984 00:45:23,333 --> 00:45:24,541 at start of the year, 1985 00:45:24,583 --> 00:45:26,041 I was like, 1986 00:45:26,041 --> 00:45:26,791 this is getting a be, 1987 00:45:26,791 --> 00:45:28,000 you know, 1988 00:45:28,333 --> 00:45:29,541 a bit hey, you doing 1989 00:45:29,625 --> 00:45:31,000 bit too overzealous here 1990 00:45:31,000 --> 00:45:31,625 I think. 1991 00:45:31,625 --> 00:45:33,166 So I pull back my visit, 1992 00:45:33,291 --> 00:45:35,041 my boy, I'm still buying. 1993 00:45:35,041 --> 00:45:35,875 I still bought early. 1994 00:45:35,875 --> 00:45:37,041 Yeah, right. 1995 00:45:37,041 --> 00:45:38,291 And lo and behold, 1996 00:45:38,791 --> 00:45:41,041 you know, we hit mid 70s. 1997 00:45:41,041 --> 00:45:42,750 I think we hit 73. 1998 00:45:42,750 --> 00:45:43,958 Came around 1999 00:45:44,416 --> 00:45:45,375 I think it was around 2000 00:45:45,375 --> 00:45:46,750 March each time. 2001 00:45:47,291 --> 00:45:48,500 So yeah, 2002 00:45:48,500 --> 00:45:49,708 I like I, 2003 00:45:49,916 --> 00:45:50,958 I used to five by 2004 00:45:50,958 --> 00:45:52,083 but I don't anymore. 2005 00:45:52,083 --> 00:45:53,333 And I always tell people 2006 00:45:53,583 --> 00:45:54,916 even when we hit 120 2007 00:45:54,916 --> 00:45:55,500 I had a friend 2008 00:45:55,500 --> 00:45:56,666 come out to me say, oh, 2009 00:45:56,708 --> 00:45:57,541 I'm missing out. 2010 00:45:57,541 --> 00:45:58,583 I said, hey, relax. 2011 00:45:58,583 --> 00:46:00,208 I said, we'll consolidate. 2012 00:46:00,291 --> 00:46:01,458 We'll come back down. 2013 00:46:01,458 --> 00:46:02,125 And here we are. 2014 00:46:03,833 --> 00:46:05,041 Because the fair value 2015 00:46:05,083 --> 00:46:06,750 currently predicts 2016 00:46:06,750 --> 00:46:07,916 Bitcoin at a 2017 00:46:08,083 --> 00:46:08,500 the power 2018 00:46:08,500 --> 00:46:09,958 that has Bitcoin 2019 00:46:09,958 --> 00:46:10,458 at a fair 2020 00:46:10,458 --> 00:46:11,833 value of 100 K today. 2021 00:46:12,291 --> 00:46:14,458 So yes, we did 120 2022 00:46:14,458 --> 00:46:15,625 which was 2023 00:46:15,625 --> 00:46:16,791 which is great. 2024 00:46:16,791 --> 00:46:18,375 But I mean we're still over 2025 00:46:18,375 --> 00:46:20,208 fair value at 107 K today. 2026 00:46:20,375 --> 00:46:20,791 So people 2027 00:46:20,791 --> 00:46:22,041 looking at the guy way down. 2028 00:46:22,041 --> 00:46:23,625 Well we're not really 2029 00:46:24,416 --> 00:46:25,708 well over fair value. 2030 00:46:25,708 --> 00:46:26,583 And this thing could be, 2031 00:46:26,583 --> 00:46:27,791 you know, a 100 K 2032 00:46:28,000 --> 00:46:29,875 or it could go down to 98 K 2033 00:46:30,208 --> 00:46:31,375 in September 2034 00:46:31,708 --> 00:46:33,083 and we'd still be around 2035 00:46:33,083 --> 00:46:34,291 that fair value. 2036 00:46:35,000 --> 00:46:36,166 I mean we could just go. 2037 00:46:36,166 --> 00:46:37,708 We would teleport from 90. 2038 00:46:37,708 --> 00:46:38,666 I don't have to 30 2039 00:46:38,666 --> 00:46:39,833 K in a matter of a week. 2040 00:46:39,958 --> 00:46:40,833 Right. 2041 00:46:40,833 --> 00:46:41,958 We both know these. 2042 00:46:41,958 --> 00:46:42,750 We've been in Bitcoin 2043 00:46:42,750 --> 00:46:43,958 long enough to, 2044 00:46:44,333 --> 00:46:45,666 to to understand that it 2045 00:46:45,958 --> 00:46:47,208 you know bitcoin folds 2046 00:46:47,541 --> 00:46:49,375 it's best 2047 00:46:49,375 --> 00:46:51,791 it makes 90% of its move in 2048 00:46:51,791 --> 00:46:53,083 like 10% of the year. 2049 00:46:53,083 --> 00:46:54,416 Not even probably 11 2050 00:46:54,416 --> 00:46:55,208 days of the year. 2051 00:46:55,208 --> 00:46:55,916 Right. 2052 00:46:55,916 --> 00:46:57,000 So I'd rather 2053 00:46:57,000 --> 00:46:58,208 have my money team 2054 00:46:58,416 --> 00:46:59,625 than not have my money. 2055 00:46:59,666 --> 00:47:00,458 Right. 2056 00:47:00,458 --> 00:47:01,500 But I just know when I'm 2057 00:47:01,500 --> 00:47:02,833 getting more value 2058 00:47:02,833 --> 00:47:03,750 for my money. 2059 00:47:03,750 --> 00:47:05,083 So that's that's literally 2060 00:47:05,083 --> 00:47:06,291 all I use these models 2061 00:47:06,291 --> 00:47:07,541 for people, you know, 2062 00:47:07,708 --> 00:47:08,875 look at them as gospel. 2063 00:47:09,291 --> 00:47:10,583 I kind of don't really do 2064 00:47:10,583 --> 00:47:11,250 that. 2065 00:47:11,250 --> 00:47:11,875 And it's worked for me. 2066 00:47:13,000 --> 00:47:14,166 Yeah, 2067 00:47:14,166 --> 00:47:15,041 I've noticed 2068 00:47:15,041 --> 00:47:16,666 certain behavior in myself 2069 00:47:16,666 --> 00:47:17,458 and in others 2070 00:47:17,458 --> 00:47:18,625 when once you have 2071 00:47:18,625 --> 00:47:19,166 that moment 2072 00:47:19,166 --> 00:47:20,375 that Bitcoin clicks in 2073 00:47:20,375 --> 00:47:21,583 for you 2074 00:47:21,583 --> 00:47:24,041 and you want to buy some, 2075 00:47:24,041 --> 00:47:25,333 most people what they do 2076 00:47:25,333 --> 00:47:25,791 and I did 2077 00:47:25,791 --> 00:47:27,875 the same thing is like I, 2078 00:47:27,875 --> 00:47:30,000 I FOMO in I 2079 00:47:30,375 --> 00:47:31,458 you know, I remember 2080 00:47:31,458 --> 00:47:31,833 I bought 2081 00:47:31,833 --> 00:47:33,083 just before the halving 2082 00:47:33,083 --> 00:47:33,750 and thinking, 2083 00:47:33,750 --> 00:47:34,041 you know, it's 2084 00:47:34,041 --> 00:47:34,750 going to go crazy 2085 00:47:34,750 --> 00:47:35,625 after the halving. 2086 00:47:35,625 --> 00:47:36,708 And that didn't happen. 2087 00:47:36,708 --> 00:47:37,916 And if I had just 2088 00:47:37,916 --> 00:47:39,416 DCA and relaxed, 2089 00:47:39,416 --> 00:47:39,833 I would have 2090 00:47:39,833 --> 00:47:41,083 gotten much more Bitcoin 2091 00:47:41,083 --> 00:47:41,708 for my money. 2092 00:47:41,708 --> 00:47:42,416 Instead of trying to 2093 00:47:42,416 --> 00:47:43,583 like lump sum 2094 00:47:43,708 --> 00:47:44,875 buy my way in. 2095 00:47:45,083 --> 00:47:46,166 I don't 2096 00:47:46,166 --> 00:47:47,041 regret it, obviously. 2097 00:47:47,041 --> 00:47:48,291 Like, significantly 2098 00:47:48,291 --> 00:47:49,500 up, but 2099 00:47:50,333 --> 00:47:51,541 do you have advice for people 2100 00:47:51,541 --> 00:47:52,791 who are like, you know, 2101 00:47:53,166 --> 00:47:54,416 some people 2102 00:47:54,416 --> 00:47:55,791 got like 500,000 2103 00:47:55,791 --> 00:47:56,916 to to spending. 2104 00:47:56,916 --> 00:47:58,708 They want to buy now, like, 2105 00:47:58,708 --> 00:47:59,708 what's your advice 2106 00:47:59,708 --> 00:48:00,916 for those folks? 2107 00:48:01,208 --> 00:48:02,666 That's a good question. 2108 00:48:03,125 --> 00:48:03,833 Personally, 2109 00:48:03,833 --> 00:48:05,333 I had 500 K today. 2110 00:48:05,875 --> 00:48:07,291 Again, it 2111 00:48:07,291 --> 00:48:08,333 comes back to your why? 2112 00:48:10,333 --> 00:48:11,125 Are you even 2113 00:48:11,125 --> 00:48:12,708 to make a short term buck. 2114 00:48:12,708 --> 00:48:14,250 If you are Bitcoin 2115 00:48:14,250 --> 00:48:15,375 it's going to be several 2116 00:48:15,375 --> 00:48:15,833 other things 2117 00:48:15,833 --> 00:48:17,208 that are going to outperform 2118 00:48:17,250 --> 00:48:17,583 Bitcoin. 2119 00:48:17,583 --> 00:48:18,750 I mean you could buy 2120 00:48:18,750 --> 00:48:19,458 you could probably buy 2121 00:48:19,458 --> 00:48:20,666 Nvidia 2122 00:48:20,791 --> 00:48:21,916 or you can buy 2123 00:48:21,916 --> 00:48:23,125 you know for coin. 2124 00:48:23,541 --> 00:48:24,750 Or there's another one 2125 00:48:24,750 --> 00:48:26,833 called SP 69,000. 2126 00:48:28,000 --> 00:48:29,708 You could buy those coins 2127 00:48:29,958 --> 00:48:30,291 and they'll 2128 00:48:30,291 --> 00:48:31,916 probably outperform Bitcoin 2129 00:48:32,083 --> 00:48:33,583 over the next six months. 2130 00:48:33,750 --> 00:48:34,958 So go buy that. 2131 00:48:35,791 --> 00:48:36,125 To me 2132 00:48:36,125 --> 00:48:37,333 it comes down to my wife 2133 00:48:37,583 --> 00:48:39,708 and I made this long term 2134 00:48:40,250 --> 00:48:41,458 my 500 cat. 2135 00:48:41,458 --> 00:48:42,500 Like if I'm investing 2136 00:48:42,500 --> 00:48:43,708 500 K today 2137 00:48:44,041 --> 00:48:46,208 I know that 2138 00:48:47,375 --> 00:48:47,750 according 2139 00:48:47,750 --> 00:48:48,416 to the research 2140 00:48:48,416 --> 00:48:50,375 I've done personally, 20 2141 00:48:50,375 --> 00:48:52,833 in 2034 in that time 2142 00:48:52,916 --> 00:48:54,333 we're going to ten x, right? 2143 00:48:54,666 --> 00:48:56,208 To me it's you could see 2144 00:48:56,208 --> 00:48:57,416 over the next six months 2145 00:48:57,958 --> 00:48:58,625 or you could just love 2146 00:48:58,625 --> 00:48:59,875 between now and just kind of 2147 00:48:59,875 --> 00:49:01,166 like sit back and chill. 2148 00:49:01,375 --> 00:49:02,791 But if again 2149 00:49:02,791 --> 00:49:04,041 if someone's you know, 2150 00:49:04,083 --> 00:49:05,333 doesn't have their bitcoin 2151 00:49:05,666 --> 00:49:06,750 and we go from, 2152 00:49:06,750 --> 00:49:08,125 you know, 100 2153 00:49:08,125 --> 00:49:09,375 107 K 2154 00:49:09,375 --> 00:49:10,750 down to 50 K tomorrow, 2155 00:49:11,166 --> 00:49:11,458 you know, 2156 00:49:11,458 --> 00:49:12,333 are they going to freak out? 2157 00:49:12,333 --> 00:49:13,500 I often ask people that 2158 00:49:13,500 --> 00:49:14,333 before they do it. 2159 00:49:14,333 --> 00:49:15,708 Would you freak out if you 2160 00:49:15,750 --> 00:49:16,041 if you. 2161 00:49:16,041 --> 00:49:17,250 Yes, then 2162 00:49:17,791 --> 00:49:18,541 I wouldn't 2163 00:49:18,541 --> 00:49:19,458 advise you to buy. 2164 00:49:19,458 --> 00:49:20,208 Right. 2165 00:49:20,208 --> 00:49:22,291 I mean, I 2166 00:49:22,708 --> 00:49:23,875 at the beginning of the year, 2167 00:49:23,875 --> 00:49:24,750 I because 2168 00:49:24,750 --> 00:49:25,208 I don't like 2169 00:49:25,208 --> 00:49:26,250 to sell my properties 2170 00:49:26,250 --> 00:49:26,875 and this 2171 00:49:26,875 --> 00:49:27,541 again is not 2172 00:49:27,541 --> 00:49:28,750 advice to anyone, 2173 00:49:28,791 --> 00:49:30,000 but I, 2174 00:49:30,375 --> 00:49:34,708 I refinanced my properties 2175 00:49:34,916 --> 00:49:35,458 and I took, 2176 00:49:35,458 --> 00:49:36,541 I extracted equity 2177 00:49:36,541 --> 00:49:37,583 and it was, you know, 2178 00:49:37,583 --> 00:49:38,791 it was over six figures. 2179 00:49:39,166 --> 00:49:40,333 And at the time, 2180 00:49:41,291 --> 00:49:42,625 I just loved it. 2181 00:49:42,625 --> 00:49:43,833 It's Bitcoin straight away. 2182 00:49:44,000 --> 00:49:45,083 I think I did it in 2183 00:49:45,083 --> 00:49:46,291 two parts, 2184 00:49:46,291 --> 00:49:47,458 literally, 2185 00:49:47,583 --> 00:49:48,541 a day apart. 2186 00:49:48,541 --> 00:49:49,541 Right. 2187 00:49:49,541 --> 00:49:50,333 Because of the banks, 2188 00:49:50,333 --> 00:49:51,125 they would let me do it 2189 00:49:51,125 --> 00:49:52,250 all at once. 2190 00:49:52,250 --> 00:49:53,166 That's an authority, 2191 00:49:53,166 --> 00:49:54,375 right. 2192 00:49:55,166 --> 00:49:55,791 So to me, 2193 00:49:55,791 --> 00:49:57,208 it was again, 2194 00:49:57,375 --> 00:49:58,583 kind of that's my wife, 2195 00:49:59,208 --> 00:49:59,666 like, 2196 00:49:59,666 --> 00:50:00,916 and I remember at the time 2197 00:50:00,916 --> 00:50:02,125 I bought it for 2198 00:50:02,125 --> 00:50:03,000 I think it was around 2199 00:50:03,000 --> 00:50:03,833 that sale up 2200 00:50:03,833 --> 00:50:04,791 just before the sale of 2201 00:50:04,791 --> 00:50:05,875 100 K party. 2202 00:50:05,875 --> 00:50:07,041 So I bought it around 2203 00:50:07,041 --> 00:50:07,916 high 98. 2204 00:50:07,916 --> 00:50:09,125 So I think it was. 2205 00:50:09,291 --> 00:50:10,791 And then it dropped to 70 K. 2206 00:50:11,083 --> 00:50:12,416 So my six figure, 2207 00:50:13,791 --> 00:50:14,333 my six 2208 00:50:14,333 --> 00:50:15,541 figure investment 2209 00:50:16,333 --> 00:50:17,666 went down by 30%. 2210 00:50:17,916 --> 00:50:19,125 Right. 2211 00:50:19,333 --> 00:50:20,041 That I can 2212 00:50:20,041 --> 00:50:21,291 honestly I 2213 00:50:21,416 --> 00:50:22,291 what I can tell 2214 00:50:22,291 --> 00:50:23,458 you hand on heart, 2215 00:50:23,625 --> 00:50:24,958 I did not care 2216 00:50:25,875 --> 00:50:26,250 and you know, 2217 00:50:26,250 --> 00:50:27,625 want to know something I'm 2218 00:50:27,625 --> 00:50:28,375 a glutton 2219 00:50:28,375 --> 00:50:29,666 to put like my family. 2220 00:50:29,708 --> 00:50:30,291 I said, 2221 00:50:30,291 --> 00:50:30,750 you know, that's 2222 00:50:30,750 --> 00:50:31,500 six figure sum. 2223 00:50:31,500 --> 00:50:33,083 I put it I've lost 30%. 2224 00:50:33,333 --> 00:50:34,791 They're like freaking out. 2225 00:50:35,666 --> 00:50:37,125 And I couldn't care less. 2226 00:50:37,125 --> 00:50:38,125 Like I wore, 2227 00:50:38,125 --> 00:50:39,291 like, a badge of honor. 2228 00:50:39,375 --> 00:50:41,000 I actually wanted it to drop 2229 00:50:41,000 --> 00:50:42,208 even more. 2230 00:50:42,500 --> 00:50:43,583 I don't know why. 2231 00:50:43,583 --> 00:50:44,208 Because I'm 2232 00:50:44,208 --> 00:50:45,416 the type of person that 2233 00:50:45,500 --> 00:50:46,666 if everyone's investing 2234 00:50:46,666 --> 00:50:47,291 in something, 2235 00:50:47,291 --> 00:50:47,791 I don't want to 2236 00:50:47,791 --> 00:50:48,416 be part of it. 2237 00:50:48,416 --> 00:50:49,583 I want to be different. 2238 00:50:49,916 --> 00:50:50,458 Right? 2239 00:50:50,458 --> 00:50:51,000 Which is why 2240 00:50:51,000 --> 00:50:51,750 I got into Bitcoin 2241 00:50:51,750 --> 00:50:52,791 in the first place. 2242 00:50:52,791 --> 00:50:53,291 So I can't. 2243 00:50:53,291 --> 00:50:54,833 I'm kind of sad whenever, 2244 00:50:55,166 --> 00:50:56,333 you know, I meet someone 2245 00:50:56,333 --> 00:50:57,833 who I consider a normie 2246 00:50:58,166 --> 00:50:59,041 and they've dabbled 2247 00:50:59,041 --> 00:50:59,875 in bitcoin, they've got 2248 00:50:59,875 --> 00:51:01,041 oh yeah, I have Bitcoin. 2249 00:51:01,291 --> 00:51:02,750 I'm kind of like right. 2250 00:51:03,000 --> 00:51:04,291 Like it's 2251 00:51:04,291 --> 00:51:04,875 getting out there 2252 00:51:04,875 --> 00:51:06,041 in that mainstream now. 2253 00:51:06,041 --> 00:51:06,625 Right. 2254 00:51:06,625 --> 00:51:07,875 So I like it. 2255 00:51:07,875 --> 00:51:09,083 They bring 2256 00:51:09,416 --> 00:51:10,125 I like that 2257 00:51:10,125 --> 00:51:11,666 the volatility scares people 2258 00:51:11,666 --> 00:51:13,125 I love it. Right. 2259 00:51:13,500 --> 00:51:14,458 So for me 2260 00:51:14,458 --> 00:51:15,625 it just suits me. 2261 00:51:15,708 --> 00:51:17,291 It's like what 2262 00:51:17,375 --> 00:51:18,625 I cannot have enough 2263 00:51:18,666 --> 00:51:20,333 I sold my 2264 00:51:20,333 --> 00:51:21,666 my Rolex watch 2265 00:51:21,791 --> 00:51:23,041 and I bought more bitcoin. 2266 00:51:23,041 --> 00:51:24,291 I'm selling things 2267 00:51:24,291 --> 00:51:25,125 just to buy more 2268 00:51:25,125 --> 00:51:26,791 bitcoin at okay 2269 00:51:28,333 --> 00:51:29,333 I don't FOMO 2270 00:51:29,333 --> 00:51:30,666 because I know 2271 00:51:30,666 --> 00:51:33,208 that if I 520 k I'm 2272 00:51:33,208 --> 00:51:33,625 not going to get 2273 00:51:33,625 --> 00:51:34,958 as much bitcoin for my dollar 2274 00:51:35,000 --> 00:51:36,166 and my goal 2275 00:51:36,166 --> 00:51:37,791 is more bitcoin right? 2276 00:51:38,125 --> 00:51:39,291 So why would I five buy 2277 00:51:39,291 --> 00:51:39,916 when I can just 2278 00:51:39,916 --> 00:51:41,208 relax and chill? 2279 00:51:41,625 --> 00:51:42,583 I know the price 2280 00:51:42,583 --> 00:51:43,791 is going to come down 2281 00:51:43,916 --> 00:51:44,666 and I'll be able to get 2282 00:51:44,666 --> 00:51:45,333 more bitcoins. 2283 00:51:45,333 --> 00:51:45,625 I'm like, 2284 00:51:45,625 --> 00:51:46,291 oh I'm greedy, 2285 00:51:46,291 --> 00:51:47,041 I love bitcoin, 2286 00:51:47,041 --> 00:51:48,000 I want more bitcoin, 2287 00:51:48,000 --> 00:51:49,000 I just want more Bitcoin 2288 00:51:49,000 --> 00:51:49,583 and everyone else 2289 00:51:49,583 --> 00:51:50,041 in the world. 2290 00:51:50,041 --> 00:51:50,875 Right? 2291 00:51:50,875 --> 00:51:52,041 So 2292 00:51:52,500 --> 00:51:53,875 so so 2293 00:51:53,875 --> 00:51:55,375 yeah it's yeah it's 2294 00:51:56,041 --> 00:51:56,666 that's why I love it. 2295 00:51:56,666 --> 00:51:57,291 I just 2296 00:51:57,291 --> 00:51:58,583 everything about bitcoin 2297 00:51:58,791 --> 00:52:00,000 from the volatility 2298 00:52:00,208 --> 00:52:00,958 to the thesis 2299 00:52:00,958 --> 00:52:02,166 to the white paper 2300 00:52:02,500 --> 00:52:04,500 to the end of anonymity 2301 00:52:04,500 --> 00:52:06,208 to how quick it is 2302 00:52:06,750 --> 00:52:08,250 to the revolution. 2303 00:52:08,250 --> 00:52:09,000 It just 2304 00:52:09,000 --> 00:52:10,708 it just suits me personally. 2305 00:52:12,291 --> 00:52:13,625 I'm kind of sad that I 2306 00:52:13,625 --> 00:52:15,208 have property as well. 2307 00:52:17,458 --> 00:52:18,750 But we'll 2308 00:52:18,750 --> 00:52:19,666 we'll solve that issue 2309 00:52:19,666 --> 00:52:20,875 in the future. 2310 00:52:21,291 --> 00:52:24,625 But you mentioned 2311 00:52:24,625 --> 00:52:25,333 your family. 2312 00:52:25,333 --> 00:52:26,791 I'm very interested to know 2313 00:52:26,791 --> 00:52:28,291 what your inner circle of, 2314 00:52:28,291 --> 00:52:29,333 like, family and friends. 2315 00:52:29,333 --> 00:52:30,583 What are their opinions 2316 00:52:30,583 --> 00:52:31,250 on Bitcoin now? 2317 00:52:31,250 --> 00:52:31,916 Have you managed 2318 00:52:31,916 --> 00:52:33,208 to successfully orange 2319 00:52:33,208 --> 00:52:34,416 peel? 2320 00:52:34,791 --> 00:52:36,000 Good question, 2321 00:52:36,041 --> 00:52:37,250 good question. 2322 00:52:38,250 --> 00:52:39,541 My immediate family, 2323 00:52:40,041 --> 00:52:41,875 my mom sort of goes 2324 00:52:41,875 --> 00:52:42,916 with what I go with. 2325 00:52:42,916 --> 00:52:44,791 So she likes Bitcoin. 2326 00:52:45,500 --> 00:52:47,166 Yeah. 2327 00:52:47,375 --> 00:52:49,250 So she obviously she doesn't 2328 00:52:49,250 --> 00:52:50,875 have any bitcoin. 2329 00:52:51,666 --> 00:52:52,291 I'm trying 2330 00:52:52,291 --> 00:52:53,458 to get my little niece, 2331 00:52:53,833 --> 00:52:55,166 into bitcoin. 2332 00:52:55,500 --> 00:52:57,208 And you know, her coming in 2333 00:52:57,208 --> 00:52:58,666 looking at my monies and, 2334 00:52:59,041 --> 00:53:00,291 and building the Lego 2335 00:53:00,291 --> 00:53:01,500 blocks together, 2336 00:53:01,625 --> 00:53:02,625 getting 2337 00:53:02,625 --> 00:53:04,250 stickers, putting it on a 2338 00:53:04,250 --> 00:53:05,708 you know, on a bench top 2339 00:53:05,708 --> 00:53:06,916 next to her bed. 2340 00:53:07,125 --> 00:53:09,916 It it's kind of like, 2341 00:53:10,041 --> 00:53:10,708 you know, 2342 00:53:10,708 --> 00:53:11,500 I always say, 2343 00:53:11,500 --> 00:53:12,458 because of Bitcoin 2344 00:53:12,458 --> 00:53:14,083 and whenever I wear it 2345 00:53:14,083 --> 00:53:15,666 or if I've got my socks, 2346 00:53:15,958 --> 00:53:17,083 she'll see it and 2347 00:53:17,083 --> 00:53:17,666 she'll come up 2348 00:53:17,666 --> 00:53:18,750 and you touch it 2349 00:53:18,750 --> 00:53:19,833 and she got to 2350 00:53:19,833 --> 00:53:21,291 be for Bitcoin kind of thing. 2351 00:53:22,333 --> 00:53:23,875 So I'm trying 2352 00:53:23,875 --> 00:53:24,750 to orange peel her. 2353 00:53:24,750 --> 00:53:27,041 Whereas I think 2354 00:53:27,041 --> 00:53:28,250 my brother 2355 00:53:28,541 --> 00:53:30,083 I don't want to talk to him 2356 00:53:30,083 --> 00:53:31,375 or anything like that, but 2357 00:53:32,208 --> 00:53:33,416 he doesn't like it 2358 00:53:33,458 --> 00:53:34,666 because 2359 00:53:35,791 --> 00:53:37,166 let's just say the 2360 00:53:37,166 --> 00:53:38,333 so the whole, 2361 00:53:38,541 --> 00:53:39,541 what is it, 2362 00:53:39,541 --> 00:53:40,750 the Silk Road, 2363 00:53:40,791 --> 00:53:41,833 and the whole 2364 00:53:41,833 --> 00:53:43,041 criminals thing. 2365 00:53:43,625 --> 00:53:44,625 I think there was a criminal 2366 00:53:44,625 --> 00:53:45,833 in Australia who, 2367 00:53:46,208 --> 00:53:47,750 stole a lot of Bitcoin. 2368 00:53:49,000 --> 00:53:49,541 Can't remember 2369 00:53:49,541 --> 00:53:50,250 how much it was. 2370 00:53:50,250 --> 00:53:50,541 I think it was 2371 00:53:50,541 --> 00:53:52,000 like 50 Bitcoin at the time. 2372 00:53:52,416 --> 00:53:53,625 2373 00:53:54,083 --> 00:53:55,750 He is so associates 2374 00:53:56,166 --> 00:53:58,416 bitcoin with the dark web 2375 00:53:58,583 --> 00:53:59,666 and prints. 2376 00:53:59,666 --> 00:54:00,458 Right. 2377 00:54:00,458 --> 00:54:01,541 And he's net so 2378 00:54:01,541 --> 00:54:03,166 and I think he associates 2379 00:54:03,166 --> 00:54:04,458 he looks at that any. 2380 00:54:04,875 --> 00:54:05,791 And he also 2381 00:54:05,791 --> 00:54:08,125 then associates it with 2382 00:54:08,125 --> 00:54:09,291 you know deejays 2383 00:54:09,375 --> 00:54:10,958 crypto brokers crypto 2384 00:54:10,958 --> 00:54:12,625 traders and stuff like that. 2385 00:54:12,625 --> 00:54:13,666 Right. 2386 00:54:13,666 --> 00:54:15,416 So he looks at it like 2387 00:54:15,416 --> 00:54:18,000 that and he has a 2388 00:54:18,958 --> 00:54:20,041 he hasn't done the research. 2389 00:54:20,041 --> 00:54:21,375 You know, he's not a read 2390 00:54:21,375 --> 00:54:22,083 and read books 2391 00:54:22,083 --> 00:54:22,916 or anything like that. 2392 00:54:22,916 --> 00:54:24,708 So he's been sold. 2393 00:54:24,708 --> 00:54:26,125 And you literally cannot 2394 00:54:26,125 --> 00:54:26,833 change his mind. 2395 00:54:26,833 --> 00:54:27,291 And you know, 2396 00:54:27,291 --> 00:54:27,750 it's funny 2397 00:54:27,750 --> 00:54:29,333 because of the price 2398 00:54:29,333 --> 00:54:30,541 going from, you know, 2399 00:54:31,208 --> 00:54:32,916 50 K, 120 K, 2400 00:54:33,291 --> 00:54:33,833 it doesn't 2401 00:54:33,833 --> 00:54:35,083 it means nothing to him. 2402 00:54:35,083 --> 00:54:35,666 It's like, 2403 00:54:35,666 --> 00:54:36,208 oh yeah, this 2404 00:54:36,208 --> 00:54:37,583 thing will go to zero, right? 2405 00:54:38,000 --> 00:54:39,208 Because he hates 2406 00:54:39,208 --> 00:54:40,541 all of the Silk Road. 2407 00:54:40,541 --> 00:54:41,833 And he saw the whole 2408 00:54:42,208 --> 00:54:42,750 crypto thing. 2409 00:54:42,750 --> 00:54:43,958 I think it was like 20 2410 00:54:43,958 --> 00:54:45,250 1617. 2411 00:54:45,250 --> 00:54:46,666 Right when Bitcoin 2412 00:54:46,666 --> 00:54:49,000 was significantly cheaper. 2413 00:54:49,583 --> 00:54:50,541 So the him 2414 00:54:50,541 --> 00:54:51,250 if if he's not 2415 00:54:51,250 --> 00:54:51,875 going to be impressed 2416 00:54:51,875 --> 00:54:53,791 from a going from a $20 to, 2417 00:54:54,041 --> 00:54:56,583 you know, 180,000 AUD 2418 00:54:57,625 --> 00:54:58,333 I think they're 2419 00:54:58,333 --> 00:54:59,000 going to be impressed. 2420 00:54:59,000 --> 00:54:59,541 I don't think he's 2421 00:54:59,541 --> 00:55:00,750 ever going to get on board. 2422 00:55:00,791 --> 00:55:02,250 Even if he gets 1 2423 00:55:02,250 --> 00:55:03,416 million AUD, 2424 00:55:03,666 --> 00:55:04,166 he'll think 2425 00:55:04,166 --> 00:55:05,458 it's just going to go down. 2426 00:55:05,458 --> 00:55:06,750 Everyone that's, you know, in 2427 00:55:06,750 --> 00:55:07,916 $1 billion, 2428 00:55:08,000 --> 00:55:08,458 it's going to go 2429 00:55:08,458 --> 00:55:09,625 down to zero. So 2430 00:55:10,916 --> 00:55:11,666 yeah, it's 2431 00:55:11,666 --> 00:55:12,833 my older brother. 2432 00:55:13,166 --> 00:55:15,208 He, he's probably 2433 00:55:15,208 --> 00:55:16,583 too smart for his own good. 2434 00:55:17,125 --> 00:55:18,958 I think when people too 2435 00:55:18,958 --> 00:55:20,125 intelligent, 2436 00:55:20,166 --> 00:55:21,083 they sort of 2437 00:55:21,083 --> 00:55:22,416 convince themselves 2438 00:55:23,125 --> 00:55:24,333 that the, 2439 00:55:24,333 --> 00:55:25,916 the it's not good, right? 2440 00:55:26,458 --> 00:55:27,041 It's funny. 2441 00:55:27,041 --> 00:55:28,250 It's like. 2442 00:55:28,500 --> 00:55:28,875 Yeah, 2443 00:55:28,875 --> 00:55:30,166 I've often seen the most 2444 00:55:30,166 --> 00:55:31,375 intelligent people, 2445 00:55:31,791 --> 00:55:33,791 not do the research. 2446 00:55:33,791 --> 00:55:35,000 It's like they've 2447 00:55:35,375 --> 00:55:37,416 they're so sure in themselves 2448 00:55:37,416 --> 00:55:38,625 that. 2449 00:55:38,791 --> 00:55:41,041 No, what I know is correct. 2450 00:55:41,333 --> 00:55:42,666 I'm not willing to have 2451 00:55:42,666 --> 00:55:44,291 an open mind and research. 2452 00:55:44,291 --> 00:55:45,500 Oh, am I wrong? 2453 00:55:45,833 --> 00:55:46,916 And I guess you can sort of 2454 00:55:46,916 --> 00:55:48,291 say the same thing for Warren 2455 00:55:48,291 --> 00:55:49,500 Buffett, right? 2456 00:55:49,500 --> 00:55:50,750 So, yeah, 2457 00:55:50,750 --> 00:55:51,416 I haven't been able 2458 00:55:51,416 --> 00:55:52,041 to convince 2459 00:55:52,041 --> 00:55:54,000 my direct family, my 2460 00:55:54,416 --> 00:55:55,583 my uncle, on the other 2461 00:55:55,583 --> 00:55:56,791 hand, he's 2462 00:55:57,708 --> 00:55:58,375 I've mentioned this 2463 00:55:58,375 --> 00:55:59,791 before, 2464 00:56:00,750 --> 00:56:01,166 he owns 2465 00:56:01,166 --> 00:56:02,500 a small little practice. 2466 00:56:02,500 --> 00:56:03,708 Right. 2467 00:56:04,791 --> 00:56:05,708 I think 2468 00:56:05,708 --> 00:56:06,833 at the time he had, 2469 00:56:08,500 --> 00:56:09,708 an IT system 2470 00:56:09,750 --> 00:56:10,958 and it was hacked. 2471 00:56:11,250 --> 00:56:13,291 I think this was the 2017. 2472 00:56:13,541 --> 00:56:14,041 I don't know 2473 00:56:14,041 --> 00:56:15,375 the details of it, but, 2474 00:56:15,875 --> 00:56:17,208 basically the hacker 2475 00:56:17,208 --> 00:56:18,166 gave him a ransom 2476 00:56:18,166 --> 00:56:19,375 and said, oh, 2477 00:56:19,750 --> 00:56:21,416 oh, unlock your system. 2478 00:56:21,958 --> 00:56:23,875 If you meet me in a car park 2479 00:56:23,875 --> 00:56:25,083 at a McDonald's 2480 00:56:25,166 --> 00:56:27,083 and you give me Bitcoin, 2481 00:56:27,208 --> 00:56:28,416 right? 2482 00:56:28,791 --> 00:56:30,041 I don't know how. 2483 00:56:30,041 --> 00:56:30,833 So he ended up. 2484 00:56:30,833 --> 00:56:31,458 Sorry, 2485 00:56:31,458 --> 00:56:32,333 but I think he spoke to 2486 00:56:32,333 --> 00:56:33,541 someone at the time 2487 00:56:33,666 --> 00:56:35,458 and he bought bitcoin. 2488 00:56:35,708 --> 00:56:36,000 I don't know 2489 00:56:36,000 --> 00:56:37,291 if he had it on a USB or 2490 00:56:37,291 --> 00:56:38,500 something at the time. 2491 00:56:38,666 --> 00:56:39,208 And he met up 2492 00:56:39,208 --> 00:56:40,416 with this person 2493 00:56:40,416 --> 00:56:42,041 and he gave them the bitcoin 2494 00:56:42,041 --> 00:56:43,500 and they unlocked the system. 2495 00:56:43,500 --> 00:56:44,041 The hacker 2496 00:56:44,041 --> 00:56:44,750 unlocked the system. 2497 00:56:44,750 --> 00:56:45,458 Now I don't know why 2498 00:56:45,458 --> 00:56:46,291 he didn't go to the 2499 00:56:46,291 --> 00:56:47,958 police or whatever. 2500 00:56:49,083 --> 00:56:50,375 I don't know the details. 2501 00:56:50,375 --> 00:56:51,083 Right. 2502 00:56:51,083 --> 00:56:52,291 But I think he's still got 2503 00:56:52,291 --> 00:56:53,875 some bitcoin left over. 2504 00:56:54,166 --> 00:56:55,375 Now my uncle 2505 00:56:55,500 --> 00:56:56,666 you got to understand like 2506 00:56:56,666 --> 00:56:57,291 why he's 2507 00:56:57,291 --> 00:56:58,833 I think he's a like Booba. 2508 00:56:59,333 --> 00:57:00,250 So I think he's 2509 00:57:00,250 --> 00:57:01,500 just turned 60 2510 00:57:01,708 --> 00:57:04,583 and he's heavily into 2511 00:57:05,041 --> 00:57:06,208 you know 2512 00:57:06,250 --> 00:57:07,541 commercial real estate 2513 00:57:07,541 --> 00:57:08,541 using the residential 2514 00:57:08,541 --> 00:57:10,500 real estate he's into. 2515 00:57:10,500 --> 00:57:10,708 Now. 2516 00:57:10,708 --> 00:57:11,791 Just get a savings account, 2517 00:57:11,791 --> 00:57:13,041 put your money in your offset 2518 00:57:13,041 --> 00:57:14,625 account, that sort of thing. 2519 00:57:14,625 --> 00:57:15,833 Right. 2520 00:57:16,083 --> 00:57:17,333 But he's bitcoin. 2521 00:57:18,416 --> 00:57:19,916 He still got it right. 2522 00:57:20,333 --> 00:57:21,083 And he's lucky 2523 00:57:21,083 --> 00:57:22,458 because he's extremely 2524 00:57:22,458 --> 00:57:23,041 well off 2525 00:57:23,041 --> 00:57:24,166 that he probably said 2526 00:57:24,166 --> 00:57:24,625 you know what 2527 00:57:24,625 --> 00:57:25,791 I'm just going to keep it 2528 00:57:25,875 --> 00:57:27,083 I don't need the money. 2529 00:57:27,208 --> 00:57:27,750 I'm going to see 2530 00:57:27,750 --> 00:57:28,916 what it does. 2531 00:57:28,916 --> 00:57:29,250 And it's 2532 00:57:29,250 --> 00:57:30,583 obviously outperformed 2533 00:57:30,958 --> 00:57:32,416 everything that he owns. 2534 00:57:32,416 --> 00:57:33,666 He's probably got say 2535 00:57:33,666 --> 00:57:34,958 he had one Bitcoin right. 2536 00:57:35,416 --> 00:57:35,791 He's probably 2537 00:57:35,791 --> 00:57:37,083 seen it go from 2,000 2538 00:57:37,083 --> 00:57:39,916 AUD to 180,000. 2539 00:57:39,916 --> 00:57:40,541 And he's like 2540 00:57:40,541 --> 00:57:42,083 what the hell is this 2541 00:57:42,083 --> 00:57:43,291 kind of thing right. 2542 00:57:43,375 --> 00:57:44,833 So he doesn't knock it. 2543 00:57:45,916 --> 00:57:46,541 But he 2544 00:57:46,541 --> 00:57:47,125 hasn't gone down 2545 00:57:47,125 --> 00:57:48,333 the rabbit hole 2546 00:57:48,958 --> 00:57:49,583 because I believe it 2547 00:57:49,583 --> 00:57:51,208 still sits on an exchange 2548 00:57:51,833 --> 00:57:52,708 because I have mentioned 2549 00:57:52,708 --> 00:57:53,375 whenever I see him 2550 00:57:53,375 --> 00:57:54,583 at Christmas time, 2551 00:57:54,583 --> 00:57:55,583 I have mentioned that, 2552 00:57:55,583 --> 00:57:56,166 you know, 2553 00:57:56,166 --> 00:57:57,541 you need to buy a wallet, 2554 00:57:58,000 --> 00:57:59,291 take it off the exchange. 2555 00:57:59,541 --> 00:58:00,875 Exchange goes down, 2556 00:58:00,875 --> 00:58:02,000 you lose your Bitcoin 2557 00:58:02,000 --> 00:58:02,833 and all that sort of thing. 2558 00:58:02,833 --> 00:58:03,625 Right? 2559 00:58:03,625 --> 00:58:05,333 So he's got a nasty 2560 00:58:05,375 --> 00:58:05,791 look at it 2561 00:58:05,791 --> 00:58:06,208 and it sort of 2562 00:58:06,208 --> 00:58:07,416 peaks in interest. 2563 00:58:07,583 --> 00:58:09,625 But then him he's 2564 00:58:09,625 --> 00:58:10,166 obviously 2565 00:58:10,166 --> 00:58:11,625 he doesn't need to pour 2566 00:58:11,625 --> 00:58:12,791 it all because 2567 00:58:13,000 --> 00:58:14,666 he's extremely well-off. 2568 00:58:14,666 --> 00:58:15,666 Right. 2569 00:58:15,666 --> 00:58:17,541 So it's funny. 2570 00:58:17,541 --> 00:58:18,916 It's family up. 2571 00:58:18,958 --> 00:58:19,375 Yeah. 2572 00:58:19,375 --> 00:58:20,000 It's family. 2573 00:58:20,000 --> 00:58:21,208 I'm very 2574 00:58:22,041 --> 00:58:23,458 I'm very reluctant 2575 00:58:23,458 --> 00:58:24,666 to sort of 2576 00:58:24,750 --> 00:58:26,541 push it too much, but 2577 00:58:27,125 --> 00:58:28,000 yeah, it's 2578 00:58:28,000 --> 00:58:29,750 but normies and people 2579 00:58:29,750 --> 00:58:30,958 that I've made up the street, 2580 00:58:31,416 --> 00:58:32,666 I'm okay with doing it 2581 00:58:32,666 --> 00:58:33,500 because I kind of 2582 00:58:33,500 --> 00:58:34,000 don't really care 2583 00:58:34,000 --> 00:58:34,750 what they think of me, 2584 00:58:35,958 --> 00:58:36,625 you know what I mean? 2585 00:58:36,625 --> 00:58:38,291 So, yeah, 2586 00:58:38,875 --> 00:58:39,833 it's my in 2587 00:58:39,833 --> 00:58:40,583 my family, it's 2588 00:58:40,583 --> 00:58:41,750 not really something. 2589 00:58:41,750 --> 00:58:42,958 It's like, oh, 2590 00:58:43,041 --> 00:58:44,250 Eddie's in it. 2591 00:58:44,708 --> 00:58:45,500 That's okay. 2592 00:58:45,500 --> 00:58:46,708 How is it doing today? 2593 00:58:47,041 --> 00:58:47,791 But that's it. 2594 00:58:47,791 --> 00:58:49,291 That's the level of it is, 2595 00:58:49,291 --> 00:58:50,500 you know, that 2596 00:58:50,541 --> 00:58:51,833 they don't 2597 00:58:51,833 --> 00:58:53,041 know about out stuff. 2598 00:58:53,083 --> 00:58:54,208 The old question 2599 00:58:54,208 --> 00:58:55,041 what is Bitcoin 2600 00:58:55,041 --> 00:58:55,708 I can't touch. 2601 00:58:55,708 --> 00:58:57,458 It is very popular 2602 00:58:57,458 --> 00:58:59,083 against with my family. 2603 00:58:59,083 --> 00:59:00,666 So and I'm 2604 00:59:00,666 --> 00:59:02,208 very reluctant to, you know, 2605 00:59:02,375 --> 00:59:03,916 shove a book in their face 2606 00:59:03,916 --> 00:59:05,000 and all that kind of thing. 2607 00:59:05,000 --> 00:59:06,708 So, yeah, 2608 00:59:06,708 --> 00:59:07,291 it's a difficult 2609 00:59:07,291 --> 00:59:08,291 one with your family, 2610 00:59:08,291 --> 00:59:09,208 that's for sure. 2611 00:59:09,208 --> 00:59:10,666 Yeah. For sure. 2612 00:59:10,666 --> 00:59:11,916 My parents are similar. 2613 00:59:11,916 --> 00:59:13,166 And, 2614 00:59:13,166 --> 00:59:13,500 you know, 2615 00:59:13,500 --> 00:59:14,083 when I first 2616 00:59:14,083 --> 00:59:14,958 got into Bitcoin, 2617 00:59:14,958 --> 00:59:16,166 I got warned by 2618 00:59:16,916 --> 00:59:18,208 basically everyone. 2619 00:59:18,208 --> 00:59:18,416 They, 2620 00:59:18,416 --> 00:59:19,166 you know, said, like, 2621 00:59:19,166 --> 00:59:20,375 when you're new into it, 2622 00:59:20,791 --> 00:59:21,333 you go through 2623 00:59:21,333 --> 00:59:22,541 an overzealous phase 2624 00:59:22,541 --> 00:59:23,416 and you want to tell 2625 00:59:23,416 --> 00:59:24,625 everyone about it. 2626 00:59:24,791 --> 00:59:25,750 And I can say 2627 00:59:25,750 --> 00:59:26,583 I definitely went 2628 00:59:26,583 --> 00:59:27,791 through that phase. 2629 00:59:28,041 --> 00:59:30,083 I am mellowing out now, 2630 00:59:30,166 --> 00:59:31,166 and starting 2631 00:59:31,166 --> 00:59:32,458 to think more strategically. 2632 00:59:32,458 --> 00:59:32,791 Okay. 2633 00:59:32,791 --> 00:59:33,375 Like, 2634 00:59:33,375 --> 00:59:35,083 just let people know that 2635 00:59:35,708 --> 00:59:36,666 they can reach out to you 2636 00:59:36,666 --> 00:59:38,083 if and when they want to 2637 00:59:38,416 --> 00:59:39,625 and leave it at that. 2638 00:59:39,625 --> 00:59:41,291 But with my parents, 2639 00:59:41,291 --> 00:59:42,916 I found like the best life 2640 00:59:42,916 --> 00:59:45,166 hack is through this podcast 2641 00:59:45,166 --> 00:59:45,958 because they're 2642 00:59:45,958 --> 00:59:46,875 sick of hearing me 2643 00:59:46,875 --> 00:59:47,458 talk about it 2644 00:59:47,458 --> 00:59:48,666 every single day 2645 00:59:48,791 --> 00:59:50,000 against their will. 2646 00:59:50,125 --> 00:59:50,625 Like, 2647 00:59:51,875 --> 00:59:53,291 and and now that they, 2648 00:59:53,291 --> 00:59:54,916 they like fans of my podcast 2649 00:59:54,916 --> 00:59:55,708 every Saturday, 2650 00:59:55,708 --> 00:59:56,875 they tuning in, 2651 00:59:57,291 --> 00:59:57,750 they listen 2652 00:59:57,750 --> 00:59:58,708 to the new episode 2653 00:59:58,708 --> 01:00:00,125 and then seeing all these 2654 01:00:00,125 --> 01:00:01,000 different people 2655 01:00:01,000 --> 01:00:02,666 from different walks of life. 2656 01:00:03,291 --> 01:00:05,625 Talk about it 2657 01:00:05,708 --> 01:00:06,666 from their lens, 2658 01:00:06,666 --> 01:00:08,041 whether it's philosophical, 2659 01:00:08,041 --> 01:00:09,291 whether it's cypherpunk, 2660 01:00:09,291 --> 01:00:09,833 whether it's 2661 01:00:09,833 --> 01:00:11,333 traditional finance, 2662 01:00:11,333 --> 01:00:12,750 whether it's someone who's, 2663 01:00:13,083 --> 01:00:14,333 well known or someone 2664 01:00:14,333 --> 01:00:15,791 who's, you know, a pleb, 2665 01:00:16,250 --> 01:00:18,416 they really, like starting 2666 01:00:18,416 --> 01:00:20,291 to open their mind to it 2667 01:00:20,291 --> 01:00:21,458 and like getting curious 2668 01:00:21,458 --> 01:00:22,166 about it. 2669 01:00:22,166 --> 01:00:22,666 I wonder if 2670 01:00:22,666 --> 01:00:24,125 with your mum and dad, 2671 01:00:24,125 --> 01:00:25,333 you can, 2672 01:00:25,708 --> 01:00:26,250 just buy 2673 01:00:26,250 --> 01:00:26,958 some bitcoin 2674 01:00:26,958 --> 01:00:28,125 on on their behalf 2675 01:00:28,125 --> 01:00:29,041 and give them a watch 2676 01:00:29,041 --> 01:00:30,666 only wallet like 2677 01:00:31,791 --> 01:00:33,000 just putting that out there. 2678 01:00:33,166 --> 01:00:34,291 I could do that. 2679 01:00:34,291 --> 01:00:35,500 My dad, 2680 01:00:35,541 --> 01:00:36,583 you know he's a he's 2681 01:00:36,583 --> 01:00:38,416 a, he's a mid 70s 2682 01:00:38,416 --> 01:00:39,750 sort of Maltese guy 2683 01:00:41,291 --> 01:00:41,791 I think 2684 01:00:41,791 --> 01:00:43,000 for him would be 2685 01:00:43,041 --> 01:00:44,250 if he was younger 2686 01:00:44,291 --> 01:00:45,625 I think it'd be something 2687 01:00:45,625 --> 01:00:46,833 he would definitely be 2688 01:00:48,166 --> 01:00:49,291 interested in 2689 01:00:49,291 --> 01:00:50,458 my mom is just 2690 01:00:50,666 --> 01:00:51,666 my mom is just my mom. 2691 01:00:51,666 --> 01:00:52,708 She just does whatever, 2692 01:00:52,708 --> 01:00:53,916 you know, whatever I do, 2693 01:00:53,916 --> 01:00:54,791 if anybody does it, 2694 01:00:54,791 --> 01:00:55,625 it's a good idea 2695 01:00:55,625 --> 01:00:56,833 kind of thing, right? 2696 01:00:58,625 --> 01:00:59,833 Yeah. 2697 01:01:00,083 --> 01:01:00,625 To be honest, 2698 01:01:00,625 --> 01:01:01,791 I like 2699 01:01:01,916 --> 01:01:02,875 not every decision 2700 01:01:02,875 --> 01:01:04,166 I make is obviously correct. 2701 01:01:04,333 --> 01:01:05,166 Right. 2702 01:01:05,166 --> 01:01:06,375 But it's funny because, 2703 01:01:07,000 --> 01:01:07,791 you know, 2704 01:01:07,791 --> 01:01:09,666 even when I buy a property, 2705 01:01:09,958 --> 01:01:11,708 you know, 2706 01:01:11,875 --> 01:01:13,083 I always get the whole, 2707 01:01:15,291 --> 01:01:15,666 don't 2708 01:01:15,666 --> 01:01:16,916 buy there, right? 2709 01:01:16,958 --> 01:01:20,458 So, for example, in 2017, 2710 01:01:20,916 --> 01:01:22,583 I bought a block of land, 2711 01:01:22,833 --> 01:01:24,083 on the south 2712 01:01:24,083 --> 01:01:25,250 coast of Victoria. 2713 01:01:25,250 --> 01:01:26,833 So there's a suburb called 2714 01:01:26,833 --> 01:01:28,041 Armstrong Creek, 2715 01:01:28,083 --> 01:01:29,791 which is about five minutes 2716 01:01:30,208 --> 01:01:31,375 north of Torquay. 2717 01:01:31,583 --> 01:01:32,125 Everyone knows. 2718 01:01:32,125 --> 01:01:33,125 Okay. 2719 01:01:33,125 --> 01:01:33,916 And at the time 2720 01:01:33,916 --> 01:01:35,166 blocks of landed, 2721 01:01:35,166 --> 01:01:35,916 Torquay were gone 2722 01:01:35,916 --> 01:01:37,916 for like six, $700,000 2723 01:01:37,916 --> 01:01:39,541 or just were small 350 square 2724 01:01:39,541 --> 01:01:40,750 meter block. 2725 01:01:40,958 --> 01:01:43,375 And so I saw Armstrong Creek 2726 01:01:43,375 --> 01:01:44,541 and it's like it's 2727 01:01:45,416 --> 01:01:46,291 there was nothing there. 2728 01:01:46,291 --> 01:01:46,875 Right. 2729 01:01:46,875 --> 01:01:49,083 And that was only developing 2730 01:01:49,083 --> 01:01:50,291 the land at the time. 2731 01:01:50,333 --> 01:01:51,666 And one block of land, 2732 01:01:51,791 --> 01:01:54,583 you know, cost $169,000. 2733 01:01:54,583 --> 01:01:55,791 And I thought, 2734 01:01:55,791 --> 01:01:56,875 I thought, 2735 01:01:56,875 --> 01:01:58,375 okay, why not? 2736 01:01:58,833 --> 01:02:00,583 So I ended up buying a block. 2737 01:02:00,833 --> 01:02:02,125 And I remember at the time 2738 01:02:02,250 --> 01:02:03,666 I was working in Melbourne, 2739 01:02:04,041 --> 01:02:05,333 but we had an office, 2740 01:02:05,333 --> 01:02:06,208 Audi Geelong, 2741 01:02:06,208 --> 01:02:07,375 which wasn't very far, 2742 01:02:07,625 --> 01:02:08,250 and I'll have to go 2743 01:02:08,250 --> 01:02:09,541 sign some documents one day 2744 01:02:09,541 --> 01:02:10,750 after work. 2745 01:02:10,750 --> 01:02:11,958 So I worked in our 2746 01:02:11,958 --> 01:02:12,708 Geelong office 2747 01:02:12,708 --> 01:02:13,291 and people are like, 2748 01:02:13,291 --> 01:02:14,458 oh, why are you here? 2749 01:02:14,666 --> 01:02:15,791 And I said, oh, you know, 2750 01:02:15,791 --> 01:02:16,625 I'm just going to go find 2751 01:02:16,625 --> 01:02:17,500 some documents. 2752 01:02:17,500 --> 01:02:18,666 Because I'm yeah, 2753 01:02:18,666 --> 01:02:19,791 I bought a block of land at 2754 01:02:19,791 --> 01:02:21,000 Armstrong Creek 2755 01:02:21,000 --> 01:02:22,166 and they're like, oh, 2756 01:02:22,166 --> 01:02:22,583 because they're all 2757 01:02:22,583 --> 01:02:23,666 locals, right? 2758 01:02:23,666 --> 01:02:24,125 They're like, oh, 2759 01:02:24,125 --> 01:02:25,250 why did you buy an offshore 2760 01:02:25,250 --> 01:02:25,708 creek? 2761 01:02:25,708 --> 01:02:27,916 It's it's swamp land. 2762 01:02:27,916 --> 01:02:29,458 It's it's disgusting. 2763 01:02:29,458 --> 01:02:29,791 You're never 2764 01:02:29,791 --> 01:02:31,041 going to make any money. 2765 01:02:31,041 --> 01:02:31,916 And, you know, 2766 01:02:31,916 --> 01:02:33,375 you got some spotty those. 2767 01:02:34,291 --> 01:02:35,625 Yeah 100%. 2768 01:02:35,791 --> 01:02:36,250 Exactly. 2769 01:02:36,250 --> 01:02:37,458 It's exactly 2770 01:02:37,708 --> 01:02:38,875 there's nothing there. 2771 01:02:39,041 --> 01:02:40,125 So they 2772 01:02:40,125 --> 01:02:41,333 so people were like 2773 01:02:41,416 --> 01:02:42,500 they told me not to do it. 2774 01:02:42,500 --> 01:02:43,458 And if I listened to them, 2775 01:02:43,458 --> 01:02:44,375 I wouldn't have done it. 2776 01:02:44,375 --> 01:02:45,625 So, 2777 01:02:45,625 --> 01:02:47,000 I ended up building a house, 2778 01:02:47,125 --> 01:02:48,166 putting a house on there, 2779 01:02:48,166 --> 01:02:50,083 renting it out in 2019. 2780 01:02:50,791 --> 01:02:52,375 So just before Covid hit, 2781 01:02:52,583 --> 01:02:53,958 right at the time, 2782 01:02:53,958 --> 01:02:54,750 I was struggling 2783 01:02:54,750 --> 01:02:55,916 to find a tenant for like, 2784 01:02:56,500 --> 01:02:57,625 I think my rent was like 2785 01:02:57,625 --> 01:02:58,833 400 bucks a week. 2786 01:02:59,208 --> 01:03:00,458 But then Covid hit 2787 01:03:01,166 --> 01:03:02,166 and the property 2788 01:03:02,166 --> 01:03:03,833 I built, 400,000 2789 01:03:04,458 --> 01:03:05,708 had been revalued 2790 01:03:05,708 --> 01:03:07,041 to 800,000 2791 01:03:07,041 --> 01:03:07,583 because everyone 2792 01:03:07,583 --> 01:03:08,791 was moving out of Melbourne 2793 01:03:08,791 --> 01:03:10,000 to the coast. 2794 01:03:10,000 --> 01:03:12,083 My rent went from $400 a week 2795 01:03:12,083 --> 01:03:13,750 to $650 a week. 2796 01:03:13,750 --> 01:03:14,375 Overnight, 2797 01:03:14,375 --> 01:03:15,583 literally overnight. 2798 01:03:16,291 --> 01:03:17,416 And I was going to like 2799 01:03:17,416 --> 01:03:18,666 if I had not. 2800 01:03:18,875 --> 01:03:20,125 If I did listen to people, 2801 01:03:20,125 --> 01:03:20,666 I would have 2802 01:03:20,666 --> 01:03:22,083 stayed on all these gains. 2803 01:03:22,250 --> 01:03:23,333 And I did it 2804 01:03:23,333 --> 01:03:23,875 and I just, 2805 01:03:23,875 --> 01:03:24,500 I it's something 2806 01:03:24,500 --> 01:03:26,291 that I listen to myself. 2807 01:03:27,958 --> 01:03:29,166 Even in 2023 2808 01:03:29,166 --> 01:03:30,375 when I bought 2809 01:03:30,416 --> 01:03:31,291 a house in the north 2810 01:03:31,291 --> 01:03:32,500 of Melbourne, Melbourne, 2811 01:03:32,708 --> 01:03:33,833 oh, I think everywhere 2812 01:03:33,833 --> 01:03:35,458 in 2022, the whole 2813 01:03:35,458 --> 01:03:36,750 you know, even bitcoin 2814 01:03:37,041 --> 01:03:38,041 had suffered everything 2815 01:03:38,041 --> 01:03:39,250 in draw down. 2816 01:03:40,208 --> 01:03:41,333 I went to auctions 2817 01:03:41,333 --> 01:03:42,833 that to buy house 2818 01:03:42,833 --> 01:03:44,041 and no one was there. 2819 01:03:44,333 --> 01:03:44,916 Literally 2820 01:03:44,916 --> 01:03:46,125 it was like ghost town. 2821 01:03:46,333 --> 01:03:47,541 I went to an auction, 2822 01:03:47,833 --> 01:03:48,833 I bought two properties 2823 01:03:48,833 --> 01:03:50,125 that year and, 2824 01:03:50,958 --> 01:03:52,583 I was the only beat up. 2825 01:03:53,666 --> 01:03:54,041 It's like 2826 01:03:54,041 --> 01:03:55,375 the auctioneer would say, 2827 01:03:55,375 --> 01:03:56,125 throw out a price 2828 01:03:56,125 --> 01:03:57,000 and I'm starting price. 2829 01:03:57,000 --> 01:03:58,166 And I'm like, 2830 01:03:58,375 --> 01:03:59,000 oh, look around. 2831 01:03:59,000 --> 01:04:00,416 I'm like, yeah, I'll do it. 2832 01:04:00,833 --> 01:04:02,041 And and they're like, oh, 2833 01:04:02,041 --> 01:04:03,250 I'm gonna have to pay money 2834 01:04:04,000 --> 01:04:05,208 twice. 2835 01:04:05,458 --> 01:04:06,625 Yeah. Tell me. 2836 01:04:06,750 --> 01:04:08,791 So that's even on forums, 2837 01:04:08,791 --> 01:04:09,416 people would be like, 2838 01:04:09,416 --> 01:04:10,250 oh, why are you buying 2839 01:04:10,250 --> 01:04:11,375 at the airport? 2840 01:04:11,375 --> 01:04:12,708 You know, 2841 01:04:12,958 --> 01:04:14,291 there's just too many house 2842 01:04:14,333 --> 01:04:15,833 owners and murders. 2843 01:04:15,875 --> 01:04:17,375 I'm thinking, well, you know, 2844 01:04:17,708 --> 01:04:18,625 Fitzroy 2845 01:04:18,625 --> 01:04:19,791 and Carlton 2846 01:04:20,250 --> 01:04:21,333 and all that. 2847 01:04:21,333 --> 01:04:22,333 The crime rates out 2848 01:04:22,333 --> 01:04:23,958 there, phenomenal. 2849 01:04:23,958 --> 01:04:25,166 That's so high. 2850 01:04:25,291 --> 01:04:26,125 Right? 2851 01:04:26,125 --> 01:04:27,416 And there's a lot of public 2852 01:04:27,416 --> 01:04:29,041 housing like. 2853 01:04:29,041 --> 01:04:29,875 And the prices down 2854 01:04:29,875 --> 01:04:31,208 there are just, you know, 2855 01:04:31,208 --> 01:04:32,666 the top of this over 2856 01:04:32,666 --> 01:04:33,625 $1 million. 2857 01:04:33,625 --> 01:04:34,666 And you're telling me 2858 01:04:34,666 --> 01:04:35,791 that this is going to impact. 2859 01:04:35,791 --> 01:04:36,875 So I bought 2860 01:04:36,875 --> 01:04:37,791 and the property price 2861 01:04:37,791 --> 01:04:39,458 went from high five 2862 01:04:39,541 --> 01:04:40,166 because as I said 2863 01:04:40,166 --> 01:04:42,041 earlier, it's 730 overnight. 2864 01:04:42,041 --> 01:04:43,250 Literally overnight. 2865 01:04:43,625 --> 01:04:45,166 And so I kind of 2866 01:04:45,166 --> 01:04:45,791 just don't like to 2867 01:04:45,791 --> 01:04:46,583 listen to people. 2868 01:04:48,208 --> 01:04:49,083 I found that everything you 2869 01:04:49,083 --> 01:04:49,625 know, I've done 2870 01:04:49,625 --> 01:04:50,666 has worked out well. 2871 01:04:50,666 --> 01:04:51,375 The touchwood. 2872 01:04:51,375 --> 01:04:52,583 Right. 2873 01:04:52,583 --> 01:04:54,125 But kind of goes with me. 2874 01:04:54,125 --> 01:04:55,708 And I think she's like saying 2875 01:04:56,083 --> 01:04:57,291 what I've done 2876 01:04:57,291 --> 01:04:58,916 and I've stuck to my guns 2877 01:04:58,916 --> 01:05:00,041 and it's paid off. 2878 01:05:00,041 --> 01:05:01,208 It's like it's all paid off 2879 01:05:01,208 --> 01:05:02,250 pretty well. 2880 01:05:02,250 --> 01:05:03,208 And that's why 2881 01:05:03,208 --> 01:05:03,750 I don't listen to 2882 01:05:03,750 --> 01:05:04,916 Warren Buffet. 2883 01:05:05,125 --> 01:05:06,541 I don't listen to, you know, 2884 01:05:07,166 --> 01:05:08,250 crypto pros and 2885 01:05:08,250 --> 01:05:09,125 crypto traders 2886 01:05:09,125 --> 01:05:10,875 is the short term noise 2887 01:05:10,875 --> 01:05:11,833 because I know 2888 01:05:11,833 --> 01:05:12,916 where things are going. 2889 01:05:12,916 --> 01:05:14,041 I know the government's 2890 01:05:14,041 --> 01:05:16,250 going to continue to debase 2891 01:05:16,583 --> 01:05:17,750 our currency. 2892 01:05:17,750 --> 01:05:18,666 Like if you want to 2893 01:05:18,666 --> 01:05:20,833 buy a sheep coin and, 2894 01:05:21,166 --> 01:05:22,750 and live with that 2895 01:05:22,750 --> 01:05:23,583 for the rest of your life 2896 01:05:23,583 --> 01:05:25,708 and possibly lose money, then 2897 01:05:26,250 --> 01:05:27,458 yeah, all power to you. 2898 01:05:27,458 --> 01:05:28,666 But personally, 2899 01:05:29,041 --> 01:05:29,750 that's not me. 2900 01:05:29,750 --> 01:05:31,083 I'm just going to continue 2901 01:05:31,083 --> 01:05:32,250 to do what I do best 2902 01:05:32,250 --> 01:05:33,416 and what I know 2903 01:05:33,500 --> 01:05:34,625 and what I've researched 2904 01:05:34,625 --> 01:05:36,416 and what, economists 2905 01:05:36,416 --> 01:05:37,583 like cipher, Diem 2906 01:05:37,583 --> 01:05:39,750 versus, as I've said, 2907 01:05:39,750 --> 01:05:40,916 that, you know, 2908 01:05:41,000 --> 01:05:42,041 it's inevitable. 2909 01:05:42,041 --> 01:05:43,583 Money printing is inevitable. 2910 01:05:43,583 --> 01:05:44,916 So yeah, 2911 01:05:45,041 --> 01:05:46,041 that's just how I say it. 2912 01:05:47,041 --> 01:05:49,041 A lot of cipher dynamics. 2913 01:05:49,041 --> 01:05:50,291 And his book is 2914 01:05:50,291 --> 01:05:50,666 the one 2915 01:05:50,666 --> 01:05:51,791 that orange pulled me. 2916 01:05:51,791 --> 01:05:53,500 So I just feel forever 2917 01:05:53,500 --> 01:05:54,833 grateful to this man 2918 01:05:54,833 --> 01:05:56,083 because he changed my life. 2919 01:05:56,083 --> 01:05:56,541 And I think I 2920 01:05:56,541 --> 01:05:57,416 recently tweeted 2921 01:05:57,416 --> 01:05:58,250 that as well. 2922 01:05:58,250 --> 01:05:58,666 And he's like, 2923 01:05:58,666 --> 01:05:59,458 this made my day. 2924 01:05:59,458 --> 01:06:00,000 And I'm like, 2925 01:06:00,000 --> 01:06:01,208 you made my life. 2926 01:06:02,333 --> 01:06:02,625 Yeah. 2927 01:06:02,625 --> 01:06:03,958 No, he's he's great, 2928 01:06:03,958 --> 01:06:05,125 I like him. 2929 01:06:05,125 --> 01:06:05,416 I mean, 2930 01:06:05,416 --> 01:06:06,875 I've read other books 2931 01:06:06,875 --> 01:06:08,208 as well since that, which I, 2932 01:06:08,208 --> 01:06:09,583 you know, really love, 2933 01:06:09,583 --> 01:06:10,916 but that one will always hold 2934 01:06:10,916 --> 01:06:12,083 a special place in my heart 2935 01:06:12,083 --> 01:06:13,375 because it was the book 2936 01:06:13,375 --> 01:06:14,458 for me. 2937 01:06:14,458 --> 01:06:16,208 Heavy rent, 2938 01:06:16,208 --> 01:06:17,416 forget food and, 2939 01:06:17,750 --> 01:06:18,958 it's not, 2940 01:06:19,041 --> 01:06:20,916 it's not, you know, 2941 01:06:20,916 --> 01:06:22,166 I'm going to actually order 2942 01:06:22,166 --> 01:06:23,333 the whole set again 2943 01:06:23,333 --> 01:06:24,958 because I only have the hard 2944 01:06:24,958 --> 01:06:26,458 copy of the Bitcoin standard, 2945 01:06:26,458 --> 01:06:27,541 which I've highlighted. 2946 01:06:27,541 --> 01:06:27,958 But I want to 2947 01:06:27,958 --> 01:06:28,875 get the whole set 2948 01:06:28,875 --> 01:06:29,708 and then I want to get 2949 01:06:29,708 --> 01:06:31,166 some like spare Bitcoin 2950 01:06:31,166 --> 01:06:31,791 standard books 2951 01:06:31,791 --> 01:06:32,541 just to give out 2952 01:06:32,541 --> 01:06:33,750 like his gifts. 2953 01:06:33,791 --> 01:06:35,041 Yeah. 2954 01:06:35,083 --> 01:06:35,875 So I'm going to do that. 2955 01:06:35,875 --> 01:06:37,166 And I think there's 10% 2956 01:06:37,166 --> 01:06:38,250 if you buy with Bitcoin. 2957 01:06:39,666 --> 01:06:40,166 Yeah I can't 2958 01:06:40,166 --> 01:06:41,375 yeah I've got 2959 01:06:41,375 --> 01:06:41,750 I've got 2960 01:06:41,750 --> 01:06:42,958 principles of economics 2961 01:06:43,375 --> 01:06:45,083 and I've got fiat food. 2962 01:06:45,291 --> 01:06:46,500 And fiat food 2963 01:06:46,500 --> 01:06:47,875 is an interesting one because 2964 01:06:48,208 --> 01:06:48,750 it's kind of like 2965 01:06:48,750 --> 01:06:50,250 you can apply the whole, 2966 01:06:50,458 --> 01:06:50,791 you know, 2967 01:06:50,791 --> 01:06:51,958 debasement of currency, 2968 01:06:51,958 --> 01:06:54,000 currency and how that impacts 2969 01:06:54,208 --> 01:06:55,416 not only, you know, 2970 01:06:55,833 --> 01:06:57,083 investing, 2971 01:06:57,083 --> 01:06:59,333 but food, music, 2972 01:06:59,791 --> 01:07:01,916 even housing, 2973 01:07:01,916 --> 01:07:03,333 I mean, the household living 2974 01:07:03,333 --> 01:07:05,583 now is 1960, right. 2975 01:07:06,041 --> 01:07:06,875 And I've built 2976 01:07:06,875 --> 01:07:08,083 new houses before, 2977 01:07:08,416 --> 01:07:09,583 as I mentioned, 2978 01:07:09,583 --> 01:07:10,375 the wanting to. 2979 01:07:10,375 --> 01:07:11,291 Okay. 2980 01:07:11,291 --> 01:07:12,500 And, you know, 2981 01:07:12,625 --> 01:07:13,541 the qualities 2982 01:07:13,541 --> 01:07:14,666 completely different. 2983 01:07:14,666 --> 01:07:17,125 Like, I, I ripped off, 2984 01:07:17,125 --> 01:07:17,875 a lot of the 2985 01:07:17,875 --> 01:07:18,625 even if you just 2986 01:07:18,625 --> 01:07:19,791 look at the plaster. 2987 01:07:19,791 --> 01:07:20,666 Right. 2988 01:07:20,666 --> 01:07:22,041 The plaster of this house. 2989 01:07:22,125 --> 01:07:23,000 This is my house 2990 01:07:23,000 --> 01:07:24,208 is nothing special, right. 2991 01:07:24,416 --> 01:07:25,791 It's a tiny house 2992 01:07:26,166 --> 01:07:27,541 built in 1960. 2993 01:07:27,583 --> 01:07:28,500 So I bought this house 2994 01:07:28,500 --> 01:07:29,666 off the original owner, 2995 01:07:29,666 --> 01:07:31,083 who's in his mid 90s, 2996 01:07:31,083 --> 01:07:32,291 right. 2997 01:07:32,291 --> 01:07:34,583 And, in the kitchen, 2998 01:07:34,750 --> 01:07:35,958 the, the that 2999 01:07:36,250 --> 01:07:36,958 the there was 3000 01:07:36,958 --> 01:07:37,708 too many cracks. 3001 01:07:37,708 --> 01:07:39,166 I was removing the plaster 3002 01:07:39,625 --> 01:07:40,583 and the plaster 3003 01:07:40,583 --> 01:07:41,791 is such good quality. 3004 01:07:41,791 --> 01:07:42,708 There's all this 3005 01:07:42,708 --> 01:07:43,916 horsehair in it 3006 01:07:44,083 --> 01:07:45,291 and it's so thick, 3007 01:07:45,791 --> 01:07:47,000 right, that 3008 01:07:47,208 --> 01:07:48,416 you can't just 3009 01:07:48,416 --> 01:07:49,666 put a hammer in it and just, 3010 01:07:50,250 --> 01:07:51,458 try and rip it off. 3011 01:07:51,625 --> 01:07:52,500 You can't rip it 3012 01:07:52,500 --> 01:07:53,541 with your hands. 3013 01:07:53,541 --> 01:07:54,458 I literally have 3014 01:07:54,458 --> 01:07:55,750 to grab a saw 3015 01:07:56,000 --> 01:07:57,083 and saw it 3016 01:07:57,083 --> 01:07:57,875 all the way down 3017 01:07:57,875 --> 01:07:59,083 to the very bottom, 3018 01:07:59,083 --> 01:07:59,833 because it was just 3019 01:07:59,833 --> 01:08:01,208 so thick and coarse. 3020 01:08:01,666 --> 01:08:03,375 Now, the insulation 3021 01:08:03,375 --> 01:08:05,791 quality of it is insanely 3022 01:08:05,791 --> 01:08:07,000 good, right? 3023 01:08:07,208 --> 01:08:08,416 These days 3024 01:08:08,625 --> 01:08:10,791 the plaster is like paper. 3025 01:08:10,791 --> 01:08:12,083 It's like cardboard. 3026 01:08:12,500 --> 01:08:13,291 Why is 3027 01:08:13,291 --> 01:08:14,500 that right? 3028 01:08:14,625 --> 01:08:15,791 It's because 3029 01:08:16,750 --> 01:08:18,250 a dollar is worthless. 3030 01:08:18,500 --> 01:08:18,958 Things 3031 01:08:18,958 --> 01:08:19,333 are getting 3032 01:08:19,333 --> 01:08:21,041 more expensive, right? 3033 01:08:21,416 --> 01:08:22,708 And to have that similar 3034 01:08:22,708 --> 01:08:25,041 sort of quality of life that 3035 01:08:26,083 --> 01:08:27,208 we can't build 3036 01:08:27,208 --> 01:08:28,166 with the same material, 3037 01:08:28,166 --> 01:08:29,916 because this house 3038 01:08:29,916 --> 01:08:31,125 to build today 3039 01:08:31,250 --> 01:08:32,458 would cost you, 3040 01:08:32,833 --> 01:08:35,041 you know, $600,000, right? 3041 01:08:35,208 --> 01:08:35,875 It's like people 3042 01:08:35,875 --> 01:08:37,083 that say, why, 3043 01:08:37,416 --> 01:08:38,625 right? 3044 01:08:39,625 --> 01:08:41,208 So to me, even the wood, 3045 01:08:41,333 --> 01:08:42,458 I mean, we used, 3046 01:08:42,458 --> 01:08:44,250 we used, hardwood. 3047 01:08:44,666 --> 01:08:46,500 It's so hard to dilute to 3048 01:08:46,500 --> 01:08:46,958 because the 3049 01:08:46,958 --> 01:08:47,833 property of it, it's 3050 01:08:47,833 --> 01:08:49,041 so thick. 3051 01:08:49,458 --> 01:08:49,916 I mean, 3052 01:08:49,916 --> 01:08:51,333 it's too expensive 3053 01:08:51,333 --> 01:08:52,583 even to use, you know, 3054 01:08:52,791 --> 01:08:55,125 hardwood that is farmed. 3055 01:08:55,208 --> 01:08:56,583 We have to use pine. 3056 01:08:57,000 --> 01:08:58,166 Right? Pine. 3057 01:08:58,166 --> 01:08:59,666 It rots so quickly 3058 01:09:00,041 --> 01:09:01,250 that it's so soft. 3059 01:09:01,250 --> 01:09:02,458 You can literally 3060 01:09:02,666 --> 01:09:04,333 just tap it nicely to it. 3061 01:09:04,375 --> 01:09:05,875 It's just, 3062 01:09:05,875 --> 01:09:07,250 the quality of the material 3063 01:09:07,916 --> 01:09:08,458 today 3064 01:09:08,458 --> 01:09:10,291 compared to even in the 80s 3065 01:09:10,291 --> 01:09:11,500 and 90s 3066 01:09:11,666 --> 01:09:12,791 when it sort of started 3067 01:09:12,791 --> 01:09:14,000 to become subpar, 3068 01:09:14,125 --> 01:09:15,291 is vastly different. 3069 01:09:15,416 --> 01:09:17,125 I strongly believe 3070 01:09:17,458 --> 01:09:19,291 it's due to the basement. 3071 01:09:19,416 --> 01:09:20,625 I can't see 3072 01:09:20,708 --> 01:09:21,416 every 3073 01:09:21,416 --> 01:09:23,041 a lower standard of living, 3074 01:09:23,041 --> 01:09:24,208 including our food. 3075 01:09:24,208 --> 01:09:25,583 Our music is 3076 01:09:25,583 --> 01:09:27,083 due to that, right? 3077 01:09:27,291 --> 01:09:29,041 People that don't see these, 3078 01:09:29,666 --> 01:09:30,416 I believe they have 3079 01:09:30,416 --> 01:09:31,708 some sort of Stockholm 3080 01:09:31,708 --> 01:09:33,000 syndrome where they think 3081 01:09:33,291 --> 01:09:34,708 that the printing of money 3082 01:09:35,416 --> 01:09:36,208 is a good thing 3083 01:09:36,208 --> 01:09:37,791 for the it's 3084 01:09:38,083 --> 01:09:39,208 it could be so further 3085 01:09:39,208 --> 01:09:39,416 from the. 3086 01:09:40,708 --> 01:09:41,916 Yeah. 3087 01:09:42,000 --> 01:09:43,333 I 100% agree. 3088 01:09:43,333 --> 01:09:44,250 And once you see it, 3089 01:09:44,250 --> 01:09:45,416 you can't unsee it. 3090 01:09:45,416 --> 01:09:46,083 Every time 3091 01:09:46,083 --> 01:09:47,333 I go to the supermarket, 3092 01:09:47,333 --> 01:09:48,666 I just look at the food 3093 01:09:48,666 --> 01:09:49,041 and like, 3094 01:09:49,041 --> 01:09:49,375 look at the 3095 01:09:49,375 --> 01:09:50,333 whole supermarket. 3096 01:09:50,333 --> 01:09:51,541 I'm like 3097 01:09:51,666 --> 01:09:52,958 80 to 90% of 3098 01:09:52,958 --> 01:09:54,541 this is not even real food. 3099 01:09:54,541 --> 01:09:56,125 Like, that's that's how bad 3100 01:09:56,125 --> 01:09:57,291 things have gotten. 3101 01:09:57,708 --> 01:09:58,458 Overall, 3102 01:09:58,458 --> 01:10:01,166 I think our, collective 3103 01:10:01,166 --> 01:10:03,208 standards have dropped 3104 01:10:03,208 --> 01:10:04,416 so much 3105 01:10:04,666 --> 01:10:05,458 that if you're 3106 01:10:05,458 --> 01:10:06,833 the type of person 3107 01:10:06,833 --> 01:10:08,875 who wants to eat real 3108 01:10:08,875 --> 01:10:10,208 food, wants to 3109 01:10:10,208 --> 01:10:11,875 exercise, wants to 3110 01:10:12,500 --> 01:10:14,125 have real relationships, 3111 01:10:14,125 --> 01:10:16,083 have real respect 3112 01:10:16,083 --> 01:10:17,458 for your body in your mind, 3113 01:10:17,458 --> 01:10:18,291 you're almost seen 3114 01:10:18,291 --> 01:10:19,500 as like, weird. 3115 01:10:19,916 --> 01:10:21,833 And it is all 3116 01:10:21,833 --> 01:10:23,625 because our standards, 3117 01:10:23,625 --> 01:10:24,583 collective standards 3118 01:10:24,583 --> 01:10:26,500 have dropped so much, 3119 01:10:26,833 --> 01:10:27,625 so much. 3120 01:10:27,625 --> 01:10:29,791 And I really hope 3121 01:10:30,166 --> 01:10:31,166 that, yeah, 3122 01:10:31,166 --> 01:10:32,333 if anything else that 3123 01:10:32,416 --> 01:10:33,541 we change that, 3124 01:10:33,541 --> 01:10:34,875 sooner 3125 01:10:34,875 --> 01:10:35,583 rather than later 3126 01:10:35,583 --> 01:10:36,833 because this is just really, 3127 01:10:37,458 --> 01:10:38,500 really bad. 3128 01:10:38,500 --> 01:10:40,208 And, and if you, 3129 01:10:40,208 --> 01:10:41,000 if you look at it 3130 01:10:41,000 --> 01:10:42,750 from a holistic perspective, 3131 01:10:43,500 --> 01:10:45,083 it just becomes obvious 3132 01:10:45,083 --> 01:10:45,583 that this is 3133 01:10:45,583 --> 01:10:46,375 what's happening. 3134 01:10:48,125 --> 01:10:48,666 So I'm trying 3135 01:10:48,666 --> 01:10:49,875 my best 3136 01:10:49,875 --> 01:10:50,708 to do what I can 3137 01:10:50,708 --> 01:10:52,166 to help educate people. 3138 01:10:52,166 --> 01:10:54,708 And yeah. 3139 01:10:56,166 --> 01:10:57,666 Do you have any 3140 01:10:57,666 --> 01:10:59,041 final thoughts, 3141 01:10:59,041 --> 01:11:00,375 like how can people find you 3142 01:11:00,375 --> 01:11:01,291 if they want to connect 3143 01:11:01,291 --> 01:11:02,458 with you? 3144 01:11:02,750 --> 01:11:04,666 I want to be connected 3145 01:11:04,666 --> 01:11:05,875 with people. 3146 01:11:06,166 --> 01:11:06,416 Yeah. 3147 01:11:06,416 --> 01:11:07,416 Yeah, absolutely. 3148 01:11:07,416 --> 01:11:08,458 I like thinking about 3149 01:11:08,458 --> 01:11:09,875 bitcoin and like, 3150 01:11:09,875 --> 01:11:12,416 anything that's, 3151 01:11:12,416 --> 01:11:13,625 not lost, like fear. 3152 01:11:15,708 --> 01:11:16,708 So you can connect 3153 01:11:16,708 --> 01:11:17,541 with me on X, 3154 01:11:17,541 --> 01:11:18,416 you find me on X 3155 01:11:18,416 --> 01:11:19,791 and the underscore selfie. 3156 01:11:20,041 --> 01:11:21,166 I used to be 3157 01:11:21,166 --> 01:11:22,583 a, I used to surf 3158 01:11:22,625 --> 01:11:23,666 just to throw it out there 3159 01:11:23,666 --> 01:11:24,833 when I was, like, 16. 3160 01:11:25,333 --> 01:11:25,791 It's why 3161 01:11:25,791 --> 01:11:27,000 I knew about tollgate. 3162 01:11:27,250 --> 01:11:29,333 And you can follow me 3163 01:11:29,333 --> 01:11:30,083 on Instagram. 3164 01:11:30,083 --> 01:11:30,541 Andy. 3165 01:11:30,541 --> 01:11:31,916 Boy, 3166 01:11:31,916 --> 01:11:34,041 boy spelled b o w I 3167 01:11:34,708 --> 01:11:36,708 sorry, but I, 3168 01:11:38,541 --> 01:11:40,041 I have a TikTok. 3169 01:11:40,833 --> 01:11:42,625 I genuinely believe that, 3170 01:11:42,916 --> 01:11:45,250 give me go on Instagram 3171 01:11:45,250 --> 01:11:46,458 and TikTok 3172 01:11:46,583 --> 01:11:47,541 because, 3173 01:11:47,541 --> 01:11:48,375 you're not preaching 3174 01:11:48,375 --> 01:11:49,083 to the converted. 3175 01:11:49,083 --> 01:11:50,166 So, 3176 01:11:50,166 --> 01:11:51,625 I think it's important to not 3177 01:11:51,625 --> 01:11:52,791 only go on to x. 3178 01:11:53,166 --> 01:11:54,750 X sometimes 3179 01:11:54,750 --> 01:11:55,916 feels like an echo chamber. 3180 01:11:55,916 --> 01:11:56,833 I've heard it all before. 3181 01:11:56,833 --> 01:11:57,333 I love it 3182 01:11:57,333 --> 01:11:58,583 because it's good community, 3183 01:11:59,083 --> 01:12:00,291 but I feel like 3184 01:12:00,416 --> 01:12:01,291 going elsewhere. 3185 01:12:01,291 --> 01:12:03,000 Venturing out, 3186 01:12:03,000 --> 01:12:05,125 is also important as well. 3187 01:12:05,125 --> 01:12:06,375 So yeah, for me, 3188 01:12:06,375 --> 01:12:07,791 they're happy to connect 3189 01:12:07,791 --> 01:12:08,208 with anybody. 3190 01:12:08,208 --> 01:12:09,416 Awesome. 3191 01:12:09,583 --> 01:12:11,541 And are you going to join 3192 01:12:11,541 --> 01:12:13,791 any Bitcoin meetups 3193 01:12:13,791 --> 01:12:15,000 in the future? 3194 01:12:15,083 --> 01:12:16,375 I can send you links 3195 01:12:16,750 --> 01:12:17,958 pressure, pressure. 3196 01:12:20,041 --> 01:12:21,000 I it's actually 3197 01:12:21,000 --> 01:12:21,750 really awesome. 3198 01:12:21,750 --> 01:12:23,291 People in Melbourne 3199 01:12:23,458 --> 01:12:24,916 like really, really good 3200 01:12:24,916 --> 01:12:25,583 Bitcoin is 3201 01:12:25,583 --> 01:12:26,791 and I know a lot of people 3202 01:12:26,791 --> 01:12:27,166 from there 3203 01:12:27,166 --> 01:12:28,583 because they go 3204 01:12:28,583 --> 01:12:29,458 to the bush bashes. 3205 01:12:29,458 --> 01:12:30,666 So you know, 3206 01:12:30,666 --> 01:12:31,875 I connected with them 3207 01:12:31,875 --> 01:12:33,125 in the bustle 3208 01:12:33,250 --> 01:12:35,791 in one in parks in Palm Cove. 3209 01:12:35,791 --> 01:12:37,791 There's a lot of really, 3210 01:12:37,791 --> 01:12:39,041 really great 3211 01:12:39,041 --> 01:12:40,416 Victorian bitcoiners. 3212 01:12:40,416 --> 01:12:41,291 And I think 3213 01:12:41,291 --> 01:12:41,916 you're missing out 3214 01:12:41,916 --> 01:12:43,125 if you're not connecting 3215 01:12:43,500 --> 01:12:44,250 yes or no, 3216 01:12:44,250 --> 01:12:45,916 I will definitely do that. 3217 01:12:45,958 --> 01:12:48,166 I kind of like, we'll 3218 01:12:49,375 --> 01:12:50,541 I'd love to go, 3219 01:12:50,958 --> 01:12:51,916 to any 3220 01:12:51,916 --> 01:12:53,125 sort of made up 3221 01:12:53,125 --> 01:12:54,125 and I'll be to property 3222 01:12:54,125 --> 01:12:55,333 meetups in the past. 3223 01:12:56,375 --> 01:12:58,041 On the property forums 3224 01:12:58,041 --> 01:12:59,250 and things like that. 3225 01:12:59,666 --> 01:13:00,875 But I do 3226 01:13:01,583 --> 01:13:02,541 preach about Bitcoin 3227 01:13:02,541 --> 01:13:03,291 probably a little bit 3228 01:13:03,291 --> 01:13:04,500 too much there, 3229 01:13:04,541 --> 01:13:05,916 and I, I absolutely 3230 01:13:05,916 --> 01:13:07,125 detest it. 3231 01:13:07,166 --> 01:13:08,875 So I'm kind of reluctant 3232 01:13:09,208 --> 01:13:10,583 to go there anymore. 3233 01:13:11,291 --> 01:13:12,958 But yeah, always, 3234 01:13:13,083 --> 01:13:15,875 always, like I told you, 3235 01:13:15,875 --> 01:13:17,125 if Bitcoin, it's 200 3236 01:13:17,125 --> 01:13:18,333 K by the end of the year, 3237 01:13:18,916 --> 01:13:21,375 I'm going to drive up north 3238 01:13:21,541 --> 01:13:22,875 and get to hang out 3239 01:13:22,875 --> 01:13:23,458 with the cool 3240 01:13:23,458 --> 01:13:24,666 bunch of people. 3241 01:13:25,166 --> 01:13:26,375 Yay! 3242 01:13:27,416 --> 01:13:28,958 You could also get the Tesla. 3243 01:13:28,958 --> 01:13:30,375 This is I told you so 3244 01:13:30,375 --> 01:13:31,625 at 200 K and show up 3245 01:13:31,625 --> 01:13:32,833 to the property, meet up 3246 01:13:33,166 --> 01:13:34,166 and just see how 3247 01:13:34,166 --> 01:13:35,166 many friends you make. 3248 01:13:36,375 --> 01:13:37,208 You know what? 3249 01:13:37,208 --> 01:13:39,291 I wear this and I just know 3250 01:13:39,291 --> 01:13:41,291 I can like no one. 3251 01:13:42,333 --> 01:13:43,625 It's it's actually 3252 01:13:43,958 --> 01:13:44,791 it's actually funny, 3253 01:13:44,791 --> 01:13:46,125 when we first did 100 K, 3254 01:13:47,041 --> 01:13:48,041 I wore this in the, 3255 01:13:48,041 --> 01:13:49,291 in the city of Melbourne 3256 01:13:49,541 --> 01:13:50,833 where it was so busy. 3257 01:13:50,833 --> 01:13:51,833 So I was walking down 3258 01:13:51,833 --> 01:13:53,041 Bourke Street. 3259 01:13:53,250 --> 01:13:54,791 No one can literally 3260 01:13:54,791 --> 01:13:56,208 nobody looked at me. 3261 01:13:56,333 --> 01:13:57,416 You know, I look 3262 01:13:57,416 --> 01:13:59,250 I had maybe 2 or 3 people 3263 01:13:59,250 --> 01:14:00,458 just look at me. 3264 01:14:00,541 --> 01:14:01,166 But that's see 3265 01:14:01,166 --> 01:14:02,208 when you talk, I'm talking 3266 01:14:02,208 --> 01:14:03,000 thousands of people 3267 01:14:03,000 --> 01:14:04,208 walking past me. 3268 01:14:04,375 --> 01:14:05,583 So I guess 3269 01:14:05,708 --> 01:14:06,791 that's how early we are. 3270 01:14:06,791 --> 01:14:08,083 I genuinely think 3271 01:14:08,083 --> 01:14:09,291 we're still early. 3272 01:14:09,875 --> 01:14:12,125 Yeah, 100%, 100%. 3273 01:14:13,916 --> 01:14:14,291 All right. 3274 01:14:14,291 --> 01:14:15,833 And thanks for your time. 3275 01:14:16,708 --> 01:14:17,541 No problems. 3276 01:14:17,541 --> 01:14:18,750 But thank you for having me.