WEBVTT

00:00:00.000 --> 00:00:10.760
Hey friend, listen, I know the world is scary right now, corruption, war, inflation, demographics,

00:00:10.760 --> 00:00:13.760
degeneracy, disease, unrest, hatred, and despair.

00:00:13.760 --> 00:00:27.280
We didn't come here to tell you how it is, but that it's going to get way better.

00:00:27.280 --> 00:00:38.680
What's up and welcome to Better Buy Bitcoin.

00:00:38.680 --> 00:00:47.040
Today as we record this, it's July 11th and it's an all-time high for the price of Bitcoin.

00:00:47.040 --> 00:00:53.900
It's, I don't even know what the price is, somewhere around between $115,000 and $120,000.

00:00:53.900 --> 00:00:59.500
And also yesterday, the day before, it was the first time that the price of Bitcoin has

00:00:59.500 --> 00:01:03.060
gone over $100,000 in Euros.

00:01:03.060 --> 00:01:14.180
So and today we're going to be telling stories of the all-time high.

00:01:14.180 --> 00:01:18.419
I think we titled the episode, stories of getting high.

00:01:18.419 --> 00:01:23.379
Well, we've all been getting high, being high.

00:01:23.379 --> 00:01:24.379
Or stories of being high.

00:01:24.379 --> 00:01:25.379
Or stories of getting high, I don't know.

00:01:25.379 --> 00:01:26.379
You never know.

00:01:26.379 --> 00:01:29.019
I don't know what your guys' stories are.

00:01:29.019 --> 00:01:35.540
Yeah, so I guess I can kick it off just talking about my journey into Bitcoin.

00:01:35.540 --> 00:01:43.379
I'm joined by Ondor and JD, Gilded Pleb, and Cypherpunk Cinema.

00:01:43.379 --> 00:01:47.860
Cypherpunk Cine, yes.

00:01:47.860 --> 00:01:48.860
That's the handle.

00:01:48.860 --> 00:01:49.860
I'm in the car.

00:01:49.860 --> 00:01:55.220
I apologize for the terrible framing and everything, but hopefully the audio is...

00:01:55.220 --> 00:01:57.419
The audio is way better than last episode.

00:01:57.419 --> 00:01:59.940
Oh, so good.

00:01:59.940 --> 00:02:00.940
Solid.

00:02:00.940 --> 00:02:01.940
Solid.

00:02:01.940 --> 00:02:09.740
I'm currently looking at a Mercedes that looks like it did not have a good time meeting a

00:02:09.740 --> 00:02:10.740
big rig.

00:02:10.740 --> 00:02:12.179
Well, that's unfortunate.

00:02:12.179 --> 00:02:16.619
But it looks like nobody got hurt, so that's fine.

00:02:16.619 --> 00:02:17.619
Anyways, continue.

00:02:17.619 --> 00:02:18.619
Sorry.

00:02:19.380 --> 00:02:20.380
That's all good.

00:02:20.380 --> 00:02:25.020
Yeah, so all of our stories are a little different of how we got into Bitcoin, when we got into

00:02:25.020 --> 00:02:26.020
Bitcoin.

00:02:26.020 --> 00:02:32.139
I know Ondor got in as far as when he actually started acquiring Bitcoin, started interacting

00:02:32.139 --> 00:02:38.059
with exchanging fiat bucks for Bitcoin way earlier than me.

00:02:38.059 --> 00:02:39.059
Years earlier than me.

00:02:39.059 --> 00:02:40.059
Wow.

00:02:40.059 --> 00:02:41.059
I took a look in the other day.

00:02:41.059 --> 00:02:43.899
I think we're actually in at the same time, for real.

00:02:43.899 --> 00:02:44.899
Oh, really?

00:02:44.899 --> 00:02:45.899
Yeah.

00:02:46.460 --> 00:02:50.020
I first was into Bitcoin probably 2012, 2013.

00:02:50.020 --> 00:02:52.740
I was watching a lot of Max Keiser.

00:02:52.740 --> 00:02:53.940
And I was just looking the other day.

00:02:53.940 --> 00:02:58.539
I had a Facebook post about Bitcoin in 2013.

00:02:58.539 --> 00:03:03.059
And multiple times I told other people that Bitcoin was the future.

00:03:03.059 --> 00:03:07.220
And still, I didn't buy any for years because I just didn't know how to acquire it.

00:03:07.220 --> 00:03:14.899
I was listening to this podcast called the, I think it's called Coin Sitter This podcast.

00:03:14.899 --> 00:03:16.979
This comedian put it together.

00:03:16.979 --> 00:03:19.259
And that was in 2014.

00:03:19.259 --> 00:03:22.259
And he would always say, just get some Bitcoin, just get some Bitcoin.

00:03:22.259 --> 00:03:25.259
And at the time, you only had a few options.

00:03:25.259 --> 00:03:26.779
First it was Mt. Gox.

00:03:26.779 --> 00:03:27.899
And that ended up failing.

00:03:27.899 --> 00:03:30.460
So I'm kind of glad that I didn't get in.

00:03:30.460 --> 00:03:32.779
Because maybe I would have stayed out had I done that.

00:03:32.779 --> 00:03:35.779
Ondor, did you ever buy Bitcoin on Mt. Gox?

00:03:35.779 --> 00:03:36.779
Nope.

00:03:36.779 --> 00:03:38.779
Like, that was the same thing.

00:03:38.779 --> 00:03:41.259
Like, how, how do you get it?

00:03:41.259 --> 00:03:43.100
Oh, through Mt. Gox.

00:03:43.100 --> 00:03:44.500
Why would I ever do that?

00:03:44.500 --> 00:03:46.259
That is like the most shady thing.

00:03:46.259 --> 00:03:50.539
I have to transfer money to Japan to buy Bitcoin.

00:03:50.539 --> 00:03:52.539
No, I'm not going to do that.

00:03:52.539 --> 00:03:55.139
Do you know what Mt. Gox was?

00:03:55.139 --> 00:03:56.139
Yeah.

00:03:56.139 --> 00:03:58.139
The Magic of the Gathering.

00:03:58.139 --> 00:03:59.139
The Gathering Online.

00:03:59.139 --> 00:04:00.139
Oh, yeah.

00:04:00.139 --> 00:04:01.139
Yeah.

00:04:01.139 --> 00:04:06.820
Which, I could have my Mythlore, yeah, I could have my Mythlore wrong on this, but I'm pretty

00:04:06.820 --> 00:04:11.100
sure the guy who presently runs Kraken, like, he made that website.

00:04:11.100 --> 00:04:16.059
He made Magic of the Gathering exchange and then sold it to Carples.

00:04:16.059 --> 00:04:20.100
Now, I could have, you know, I could have my Mythology wrong on that, but then sold

00:04:20.100 --> 00:04:23.899
to Carples, Carples turned it into a Bitcoin exchange.

00:04:23.899 --> 00:04:25.779
So that is a great time.

00:04:25.779 --> 00:04:29.339
I could be totally off on that, but yeah.

00:04:29.339 --> 00:04:33.420
People getting into Bitcoin now don't know much of the lore, so it's probably worth telling

00:04:33.420 --> 00:04:34.420
people a little bit.

00:04:34.420 --> 00:04:38.140
There was also, there was a thing called Bitcoin faucets.

00:04:38.140 --> 00:04:42.059
People who had a lot of Bitcoin in the beginning literally had websites where you just clicked

00:04:42.059 --> 00:04:45.299
a button and it would give you, you know, five Bitcoins.

00:04:45.299 --> 00:04:46.299
Some of them were more.

00:04:46.299 --> 00:04:50.899
Some of them were like 25 Bitcoin just for clicking a button, because they just wanted

00:04:50.899 --> 00:04:52.660
to distribute it to a bunch of people.

00:04:52.660 --> 00:04:57.980
And that's part of how Bitcoin got its value, by it getting bigger.

00:04:57.980 --> 00:05:05.059
I remember watching a YouTube video, I can't remember what year this was, but super early

00:05:05.059 --> 00:05:08.220
days, right?

00:05:08.220 --> 00:05:12.899
I remember watching a YouTube video of a guy doing the faucet, like, okay guys, here's

00:05:12.899 --> 00:05:17.540
how you do the whole faucet thing, like, you like go to this webpage and you got to have

00:05:17.540 --> 00:05:18.540
your wallet open.

00:05:18.540 --> 00:05:21.179
He just goes through the whole process, right?

00:05:21.179 --> 00:05:27.019
And he's like, and this is how, like, so now I've got a whole Bitcoin in my wallet, right?

00:05:27.019 --> 00:05:31.779
It's just like, oh my God, dude, like you cannot find these videos again, ever again,

00:05:31.779 --> 00:05:33.179
because they've all been deleted, right?

00:05:34.179 --> 00:05:38.339
Bro, you're just completely doxxed a hundred thousand dollars, right?

00:05:41.059 --> 00:05:47.500
Yeah, there's a surprising amount of people who, early days, got a bunch of Bitcoin and

00:05:47.500 --> 00:05:52.579
they have so much value that they're just like, I need to disappear.

00:05:52.579 --> 00:05:56.540
People do not need to know that I have this.

00:05:56.540 --> 00:05:57.540
That's pretty great.

00:05:57.540 --> 00:06:00.299
There were also Casascius coins, remember those?

00:06:00.339 --> 00:06:05.660
You could buy a physical coin that had a little peel-off sticker on it that held, I think

00:06:05.660 --> 00:06:09.100
that some of the Casascius coins held 25 BTC, if I remember correctly.

00:06:09.100 --> 00:06:12.459
No, there was a guy who had a hundred the other day, I thought he just, like, transferred

00:06:12.459 --> 00:06:13.459
from that.

00:06:13.459 --> 00:06:17.980
Yeah, there's probably more than 25, yeah.

00:06:17.980 --> 00:06:19.980
Probably a thousand, actually.

00:06:19.980 --> 00:06:22.859
Yeah, Coinbase got started earlier than I thought.

00:06:22.859 --> 00:06:29.380
Coinbase, I think, first started as a website in, like, 2015.

00:06:29.700 --> 00:06:31.700
No, it was earlier than that.

00:06:31.700 --> 00:06:32.700
It was earlier than that?

00:06:32.700 --> 00:06:33.700
Yeah, I think it was.

00:06:33.700 --> 00:06:34.700
I think it was, yeah.

00:06:34.700 --> 00:06:35.700
It was, like, 2012?

00:06:35.700 --> 00:06:38.700
It's, like, really, yeah, it was, like, really early.

00:06:38.700 --> 00:06:42.700
But, I mean, it was, like, a Y Combinator, like, nobody's heard of this thing until,

00:06:42.700 --> 00:06:48.700
you know, they exited the, you know, incubator.

00:06:48.700 --> 00:06:49.700
So, yeah.

00:06:50.700 --> 00:06:55.700
There was a video that I watched, I remember, I hadn't even thought about Bitcoin for a

00:06:55.700 --> 00:06:56.700
while.

00:06:57.019 --> 00:07:03.019
I was thinking about Bitcoin, some time went by, and then I saw a YouTube video, this was

00:07:03.019 --> 00:07:08.019
probably 2016, and this guy at a conference walks up to a Bitcoin ATM, and he puts $600

00:07:08.019 --> 00:07:10.019
into the ATM to buy one Bitcoin.

00:07:10.019 --> 00:07:15.019
And he's like, I cannot believe I just spent $600 on a piece of paper, like, what am I

00:07:15.019 --> 00:07:16.019
going to do with this?

00:07:16.019 --> 00:07:19.019
What was I thinking?

00:07:19.019 --> 00:07:24.019
And now that $600 is worth $117,000.

00:07:24.019 --> 00:07:25.019
Yep.

00:07:25.339 --> 00:07:27.339
$117,000.

00:07:27.339 --> 00:07:28.339
Ridiculous.

00:07:31.339 --> 00:07:35.339
Well, I was going to talk about when I first actually got into Bitcoin.

00:07:35.339 --> 00:07:40.339
It took me two weeks for Coinbase to recognize my driver's license.

00:07:40.339 --> 00:07:44.339
And I thought it was so strange that I had to take a picture of my own face and, like,

00:07:44.339 --> 00:07:46.339
a picture holding up my driver's license.

00:07:46.339 --> 00:07:53.339
It just felt like something I would, you know, share with a scammer and get my identity stolen

00:07:53.339 --> 00:07:54.339
or something.

00:07:54.660 --> 00:07:58.660
And for some reason, it wasn't able to read my driver's license.

00:07:58.660 --> 00:08:02.660
This is a really low resolution picture that it took of it.

00:08:02.660 --> 00:08:04.660
I had to do it over and over and over again.

00:08:04.660 --> 00:08:10.660
I remember the price of Bitcoin went from somewhere around $900 to $1,000 before I could

00:08:10.660 --> 00:08:14.660
even get Coinbase to accept me to be able to buy any Bitcoin.

00:08:15.660 --> 00:08:17.660
The price was $1,000 at the time.

00:08:17.660 --> 00:08:20.660
So it's gone up 100x since that happened.

00:08:20.660 --> 00:08:21.660
Yeah.

00:08:21.660 --> 00:08:22.660
Yeah.

00:08:22.980 --> 00:08:23.980
I remember...

00:08:23.980 --> 00:08:29.980
So I got in around the peak of the, what, the 2014 bubble.

00:08:31.980 --> 00:08:35.979
So I was just, you know, basically just rode down to the bottom.

00:08:35.979 --> 00:08:38.979
And for me, like, one of the biggest memories I had...

00:08:38.979 --> 00:08:39.979
Because it was just...

00:08:39.979 --> 00:08:41.979
I'm, like, looking at the chart right now.

00:08:41.979 --> 00:08:42.979
I'm trying to figure out how long it was.

00:08:43.299 --> 00:08:44.299
That was...

00:08:44.299 --> 00:08:54.299
So from November of 2000, December 2013 to December of 2015.

00:08:54.299 --> 00:08:57.299
So two years of just straight down channel, right?

00:08:57.299 --> 00:09:00.299
For me, it was like researching and figuring out.

00:09:00.299 --> 00:09:01.299
I was like, wait a second.

00:09:01.299 --> 00:09:02.299
This is...

00:09:02.299 --> 00:09:04.299
All the dots line up.

00:09:04.299 --> 00:09:05.299
Everything connects.

00:09:05.299 --> 00:09:07.299
This is going to go way higher.

00:09:07.299 --> 00:09:10.299
And for two years, it was just going straight down, right?

00:09:10.299 --> 00:09:11.299
Everyone dismissed it.

00:09:11.299 --> 00:09:12.299
Like, this is the whole thing.

00:09:12.619 --> 00:09:15.619
And this is important for you to hear, JD, because you're a newbie.

00:09:16.619 --> 00:09:20.619
Your story sounds oddly familiar, but mine is more recent.

00:09:20.619 --> 00:09:23.619
All downhill the whole time, right?

00:09:23.619 --> 00:09:25.619
For me, I will never forget.

00:09:25.619 --> 00:09:26.619
And I, like, watched it religiously.

00:09:26.619 --> 00:09:27.619
Was learning how to trade.

00:09:27.619 --> 00:09:30.619
Was trading, like, just doing all the things, right?

00:09:31.619 --> 00:09:36.619
For me, it was, like, everything was validated.

00:09:36.619 --> 00:09:39.619
The whole thesis was like, this is real.

00:09:39.619 --> 00:09:40.619
This is going to happen.

00:09:40.940 --> 00:09:42.940
Everything about it was real at that point.

00:09:42.940 --> 00:09:43.940
When it...

00:09:43.940 --> 00:09:47.940
There was just a small, like, bubble that, like, went up to 500.

00:09:47.940 --> 00:09:49.940
Touched 500 and crashed back down.

00:09:49.940 --> 00:09:51.940
I was like, it went up to 500.

00:09:51.940 --> 00:09:52.940
This thing is real.

00:09:52.940 --> 00:09:55.940
It's going to go up way higher than 500.

00:09:56.940 --> 00:09:57.940
And then, like, for me, like, that was...

00:09:57.940 --> 00:09:58.940
I'll never forget.

00:09:58.940 --> 00:10:00.940
I was, like, sitting at my computer, like, watching the whole thing.

00:10:00.940 --> 00:10:03.940
Just like, there's nothing else in the world that mattered.

00:10:03.940 --> 00:10:05.940
It just goes, boop.

00:10:05.940 --> 00:10:07.940
And then I was just like, I was done.

00:10:07.940 --> 00:10:09.940
I was like, this is it.

00:10:10.260 --> 00:10:11.260
I'm in.

00:10:11.260 --> 00:10:17.260
At that time, Bondo, were you doing trading and, like, technical analysis and that sort of thing?

00:10:17.260 --> 00:10:19.260
I feel like you were trading options or something.

00:10:19.260 --> 00:10:20.260
Super degen.

00:10:20.260 --> 00:10:22.260
No, I hadn't gotten into options yet.

00:10:22.260 --> 00:10:25.260
I was doing just straight degen trading.

00:10:25.260 --> 00:10:29.260
So, shitcoining, as it's known.

00:10:29.260 --> 00:10:30.260
I never went through that.

00:10:30.260 --> 00:10:32.260
Maybe I'm just not wired to gamble.

00:10:32.260 --> 00:10:34.260
Like, I never played poker or anything like that.

00:10:34.260 --> 00:10:36.260
So, I never did any kind of trading at all.

00:10:36.260 --> 00:10:39.260
It's always just been straight dollar-cost average for me.

00:10:40.260 --> 00:10:41.260
Yeah.

00:10:41.260 --> 00:10:43.260
Trading is probably the best.

00:10:44.260 --> 00:10:45.260
Trading...

00:10:45.260 --> 00:10:48.260
You can only do trading if you do it as a full-time job.

00:10:48.260 --> 00:10:52.260
Like, and even at that, some people can't do it.

00:10:52.260 --> 00:10:54.260
Like, for me, I basically just...

00:10:54.260 --> 00:10:58.260
I made enough money to, like, support myself for a couple years.

00:10:58.260 --> 00:10:59.260
Like, that...

00:10:59.260 --> 00:11:01.260
And it's like, I can't...

00:11:01.260 --> 00:11:05.260
I'm super thankful that, like, I was able to do that.

00:11:05.260 --> 00:11:06.260
Right?

00:11:06.260 --> 00:11:08.260
Like, literally just enough money to support myself for a few years.

00:11:08.260 --> 00:11:09.260
Like, that's it.

00:11:09.580 --> 00:11:11.580
Which is good.

00:11:11.580 --> 00:11:14.580
It's way better than getting wiped out, liquidated all the time,

00:11:14.580 --> 00:11:16.580
like so many traders actually do.

00:11:16.580 --> 00:11:19.580
But I'm certainly not, you know, the upper echelons of traders

00:11:19.580 --> 00:11:24.580
who can actually, like, make substantial amounts of money trading.

00:11:24.580 --> 00:11:25.580
That is, like...

00:11:25.580 --> 00:11:28.580
It's a total misnomer that people can just do that.

00:11:28.580 --> 00:11:30.580
It's so rare.

00:11:30.900 --> 00:11:37.900
It seems like to me that most good traders

00:11:37.900 --> 00:11:42.900
are setting stop losses for themselves so they can't get wiped out.

00:11:42.900 --> 00:11:46.900
And they're incrementally making a little bit of money.

00:11:46.900 --> 00:11:51.900
And probably, on average, a really good trader trading all the time,

00:11:51.900 --> 00:11:53.900
trading as a full-time job, sitting in front of a computer,

00:11:53.900 --> 00:11:56.900
just watching charts, is making $200 a day.

00:11:56.900 --> 00:11:57.900
Somewhere around there.

00:11:58.219 --> 00:12:00.219
They're making just enough to live off of.

00:12:00.219 --> 00:12:03.219
But they can't take any huge swings,

00:12:03.219 --> 00:12:06.219
because if you're doing it that way and setting stop losses,

00:12:06.219 --> 00:12:08.219
you can't take huge swings.

00:12:08.219 --> 00:12:11.219
So every once in a while, you're going to have a trade go really well.

00:12:11.219 --> 00:12:14.219
But most of your trades are just going to be little bitty profit.

00:12:14.219 --> 00:12:17.219
And you've got to pay capital gains on all that trading as well.

00:12:18.219 --> 00:12:20.219
Trading is just all problematic.

00:12:20.219 --> 00:12:21.219
I would just avoid.

00:12:21.219 --> 00:12:23.219
Like, even with that, like, no.

00:12:23.219 --> 00:12:24.219
It's really not...

00:12:24.219 --> 00:12:27.219
Like, you think, like, oh, the stop-loss strategy, that'll work.

00:12:27.539 --> 00:12:30.539
But then you realize that the whole market is designed

00:12:30.539 --> 00:12:32.539
to just hunt for stop-losses,

00:12:32.539 --> 00:12:36.539
so that people just always lose money on their stops.

00:12:36.539 --> 00:12:38.539
So then you don't put in your stops anymore,

00:12:38.539 --> 00:12:39.539
and then you actually start making money.

00:12:39.539 --> 00:12:40.539
But then there's the next thing.

00:12:40.539 --> 00:12:43.539
It's like, oh, well, my targets.

00:12:43.539 --> 00:12:46.539
Then they'll, like, they'll never actually hit your targets, right?

00:12:46.539 --> 00:12:50.539
It's like, you'll have a good idea for a good trade,

00:12:50.539 --> 00:12:53.539
but it'll never actually execute the exit of the trade,

00:12:53.539 --> 00:12:54.539
and then you'll just lose money.

00:12:54.539 --> 00:12:55.539
It just goes on and on.

00:12:55.859 --> 00:12:58.859
The second you understand that the market...

00:12:58.859 --> 00:13:02.859
Like, Wall Street is just the largest legalized casino in the world.

00:13:02.859 --> 00:13:04.859
And by the way, Wall Street is the house.

00:13:04.859 --> 00:13:06.859
The second you realize that,

00:13:06.859 --> 00:13:08.859
you realize that there's no reason to trade.

00:13:08.859 --> 00:13:09.859
There's not.

00:13:09.859 --> 00:13:11.859
There's no reason to trade.

00:13:11.859 --> 00:13:15.859
The only reason you have to have money in the market

00:13:15.859 --> 00:13:18.859
is tax deferment, period.

00:13:18.859 --> 00:13:23.859
There's literally no other reason to buy stocks

00:13:23.859 --> 00:13:24.859
or anything else like that.

00:13:25.179 --> 00:13:28.179
Unless you just have, like, an affinity for Mickey Mouse

00:13:28.179 --> 00:13:30.179
or some other stuff.

00:13:30.179 --> 00:13:35.179
But there's literally no other reason to buy any stocks

00:13:35.179 --> 00:13:37.179
in any way, shape, or form

00:13:39.179 --> 00:13:44.179
outside of, you know, you just want to invest in a person.

00:13:44.179 --> 00:13:47.179
Like, because you're not going to beat inflation.

00:13:47.179 --> 00:13:50.179
You're not going to beat anything else.

00:13:50.179 --> 00:13:51.179
And so it's just stupid.

00:13:51.179 --> 00:13:53.179
It's just legalized gambling.

00:13:53.500 --> 00:13:56.500
And because there are talking heads on the news

00:13:56.500 --> 00:13:58.500
all the time talking about it,

00:13:58.500 --> 00:14:00.500
people have been lulled into this, you know,

00:14:00.500 --> 00:14:02.500
false sense of, this is a legit thing,

00:14:02.500 --> 00:14:05.500
because just people don't shut the hell up about it.

00:14:05.500 --> 00:14:08.500
When in actuality, it's just literally a casino

00:14:08.500 --> 00:14:11.500
that just happens to be, you know,

00:14:11.500 --> 00:14:14.500
the house is the Fed, and the Fed is the government.

00:14:15.500 --> 00:14:18.500
So, I'm, like, looking at the price history

00:14:18.820 --> 00:14:22.820
and I'm remembering, like, being in Los Angeles

00:14:22.820 --> 00:14:25.820
in 2016, 17, watching, like,

00:14:25.820 --> 00:14:28.820
or being in Los Angeles 2017,

00:14:28.820 --> 00:14:33.820
watching the price climb up from 1,000 to 20,000,

00:14:33.820 --> 00:14:35.820
the 2017 bubble.

00:14:35.820 --> 00:14:37.820
Anton, I want to hear your stories on this,

00:14:37.820 --> 00:14:40.820
but for me personally, I explicitly remember,

00:14:40.820 --> 00:14:43.820
like, sitting in a bus, like, on my way to a film set,

00:14:43.820 --> 00:14:46.820
like, with my buddy who's the director,

00:14:47.140 --> 00:14:49.140
I guess it probably depends on what shoot we were on,

00:14:49.140 --> 00:14:50.140
but he is a director.

00:14:50.140 --> 00:14:52.140
And I was sitting there, like,

00:14:52.140 --> 00:14:54.140
bro, you got to get on Bitcoin.

00:14:54.140 --> 00:14:56.140
And he bought, he, like, signed up for,

00:14:56.140 --> 00:14:58.140
like, on the bus, signed up for Coinbase,

00:14:58.140 --> 00:15:00.140
put in 50 bucks and bought 50 bucks of Bitcoin.

00:15:00.140 --> 00:15:02.140
And I'll just never, I'll never forget,

00:15:02.140 --> 00:15:04.140
like, just sitting on the bus, like,

00:15:04.140 --> 00:15:06.140
because I didn't have a car or,

00:15:07.140 --> 00:15:09.140
I had one car at that point, I don't know what it was.

00:15:09.140 --> 00:15:12.140
But I love buses, I just take buses,

00:15:12.140 --> 00:15:14.140
or I used to before COVID.

00:15:14.460 --> 00:15:18.460
But, yeah, just watching the price on the bus,

00:15:18.460 --> 00:15:21.460
like, that is a quintessential Bitcoin memory for me.

00:15:22.460 --> 00:15:25.460
I don't know if I've ever heard anybody say I love buses.

00:15:25.460 --> 00:15:27.460
I love buses, dude, they're great.

00:15:27.460 --> 00:15:28.460
What kind of buses?

00:15:28.460 --> 00:15:30.460
I used to work, I mean, I literally wrote software

00:15:30.460 --> 00:15:32.460
for a company that, like...

00:15:32.460 --> 00:15:34.460
Are you talking about the Citi bus?

00:15:34.460 --> 00:15:36.460
Yeah, Citi bus.

00:15:36.460 --> 00:15:37.460
You like the Citi bus?

00:15:37.460 --> 00:15:38.460
Yeah.

00:15:38.460 --> 00:15:40.460
I thought everybody hated the bus.

00:15:40.460 --> 00:15:41.460
I like trains.

00:15:41.460 --> 00:15:42.460
Like, trains feel very safe.

00:15:42.460 --> 00:15:43.460
Oh, yeah, trains are awesome.

00:15:43.780 --> 00:15:45.780
Buses feel like punishment.

00:15:45.780 --> 00:15:46.780
It depends.

00:15:46.780 --> 00:15:49.780
It certainly depends on the city or the bus.

00:15:49.780 --> 00:15:50.780
L.A.'s buses are terrible, obviously,

00:15:50.780 --> 00:15:53.780
but, like, buses can be really great.

00:15:53.780 --> 00:15:55.780
When you were living in Korea,

00:15:55.780 --> 00:15:57.780
did you ever ride a bus there?

00:15:57.780 --> 00:15:58.780
All the time.

00:15:58.780 --> 00:16:00.780
Did they have, like, not Citi buses,

00:16:00.780 --> 00:16:02.780
but, like, traveling around buses?

00:16:02.780 --> 00:16:04.780
Yeah, charter buses for everything, yeah.

00:16:04.780 --> 00:16:06.780
Did they have flight attendants on the buses?

00:16:07.780 --> 00:16:09.780
I don't think so.

00:16:09.780 --> 00:16:12.780
We were in the country, we were not, like,

00:16:13.780 --> 00:16:16.780
in high-class bus zones.

00:16:17.780 --> 00:16:19.780
I did a bus in Vietnam once,

00:16:19.780 --> 00:16:20.780
and they had, like...

00:16:20.780 --> 00:16:23.780
Imagine what your imagination of, like,

00:16:23.780 --> 00:16:27.780
1950s, 1960s airline stewardesses are,

00:16:27.780 --> 00:16:30.780
but they had those on the bus in Vietnam.

00:16:30.780 --> 00:16:33.780
Like, super luxury bus, girl in, like, a crisp outfit

00:16:33.780 --> 00:16:35.780
with a little hat, like, serving drinks.

00:16:35.780 --> 00:16:37.780
It was amazing.

00:16:37.780 --> 00:16:39.780
The buses were like that at the end of the bus.

00:16:39.780 --> 00:16:40.780
What year were you saying?

00:16:41.099 --> 00:16:44.099
I imagine hell is just a Greyhound with no AC

00:16:44.099 --> 00:16:46.099
that never lets anybody off.

00:16:46.099 --> 00:16:49.099
It just keeps adding people to the bus.

00:16:50.099 --> 00:16:52.099
And the driver is always screaming at you

00:16:52.099 --> 00:16:54.099
to sit in your seat, but there's too many people.

00:16:55.099 --> 00:16:57.099
And they won't go anywhere

00:16:57.099 --> 00:16:59.099
until everybody has a seatbelt,

00:16:59.099 --> 00:17:00.099
but there's none that have seatbelts.

00:17:00.099 --> 00:17:04.099
That is what I imagine hell is actually like.

00:17:04.099 --> 00:17:07.099
And the guy next to you is most likely a serial killer

00:17:07.420 --> 00:17:09.420
and maybe has...

00:17:09.420 --> 00:17:10.420
These days, yeah.

00:17:10.420 --> 00:17:11.420
...his suitcase.

00:17:11.420 --> 00:17:13.420
That or just has a really bad BF.

00:17:13.420 --> 00:17:14.420
Yes.

00:17:15.420 --> 00:17:17.420
Or both, probably.

00:17:18.420 --> 00:17:21.420
So that was 2017.

00:17:21.420 --> 00:17:22.420
Okay.

00:17:22.420 --> 00:17:25.420
So, Anton, what do you remember about the 2017 bubble?

00:17:25.420 --> 00:17:27.420
Man, that was a wild year.

00:17:27.420 --> 00:17:30.420
Yeah, I remember Naval talking...

00:17:30.420 --> 00:17:32.420
I think it was that episode that he did

00:17:32.420 --> 00:17:33.420
with Tim Ferriss and Nick Szabo.

00:17:33.420 --> 00:17:35.420
I want to say it was in 2017.

00:17:35.420 --> 00:17:36.420
He talks about it being in a bubble.

00:17:36.739 --> 00:17:37.739
I looked up the date the other day

00:17:37.739 --> 00:17:40.739
and the price was like $8,000 or $9,000 at that point.

00:17:40.739 --> 00:17:42.739
So he was saying Bitcoin was in a bubble

00:17:42.739 --> 00:17:43.739
at $8,000 or $9,000.

00:17:43.739 --> 00:17:44.739
And I remember...

00:17:45.739 --> 00:17:48.739
I want to say that I finally was able to buy

00:17:48.739 --> 00:17:50.739
in May or something.

00:17:50.739 --> 00:17:52.739
So almost halfway through the year.

00:17:52.739 --> 00:17:54.739
That was when the price was at $1,000.

00:17:55.739 --> 00:17:59.739
And it ended the year in December at $19,000.

00:18:00.739 --> 00:18:03.739
So it went up 20x in only six months

00:18:03.739 --> 00:18:04.739
or something like that.

00:18:05.060 --> 00:18:07.060
And it crashed right afterwards.

00:18:07.060 --> 00:18:12.060
And I want to say that China had banned Bitcoin mining,

00:18:12.060 --> 00:18:15.060
which was sort of what people thought led to the crash.

00:18:15.060 --> 00:18:21.060
And it crashed from late December to mid-January

00:18:21.060 --> 00:18:25.060
from like $19,300 as an all-time high

00:18:25.060 --> 00:18:27.060
to about $3,800.

00:18:28.060 --> 00:18:33.060
And then it stayed in a certain range after that.

00:18:33.380 --> 00:18:36.380
I remember my conviction had gotten so strong.

00:18:36.380 --> 00:18:39.380
Andreas Antonopoulos was kind of the guy at the time.

00:18:39.380 --> 00:18:41.380
He had come out with the Internet of Money

00:18:41.380 --> 00:18:43.380
based on all the talks that he had done

00:18:43.380 --> 00:18:45.380
between 2015 and 2017.

00:18:45.380 --> 00:18:48.380
I want to say that he went on Rogan around 2016.

00:18:48.380 --> 00:18:51.380
And I had become so convinced in the fundamentals

00:18:51.380 --> 00:18:54.380
and I had just lost a bunch of money in a scam as well.

00:18:54.380 --> 00:18:57.380
I lost 0.27 Bitcoin in the scam,

00:18:57.380 --> 00:19:02.380
which is now about $32,000, $33,000 worth of Bitcoin.

00:19:02.699 --> 00:19:06.699
And I was like, I'm going to keep dollar-cost averaging in.

00:19:06.699 --> 00:19:07.699
The price fell to $3,800.

00:19:07.699 --> 00:19:09.699
I'm like, this is a miracle.

00:19:09.699 --> 00:19:10.699
It was getting too expensive.

00:19:10.699 --> 00:19:12.699
Now I can buy some.

00:19:12.699 --> 00:19:15.699
And I remember when the price that year

00:19:15.699 --> 00:19:18.699
went from like $3,800 to $12,000.

00:19:20.699 --> 00:19:24.699
So Naval was saying it was in a bubble at $8,000, $9,000.

00:19:24.699 --> 00:19:28.699
And it went to $12,000 a year later or so.

00:19:28.699 --> 00:19:31.699
That was higher than what he was saying was in a bubble.

00:19:32.020 --> 00:19:35.020
People were acting like Bitcoin had crashed irreversibly.

00:19:35.020 --> 00:19:36.020
Yeah.

00:19:37.020 --> 00:19:38.020
Such a great insight.

00:19:38.020 --> 00:19:39.020
Yeah.

00:19:39.020 --> 00:19:40.020
Yeah.

00:19:40.020 --> 00:19:41.020
All right.

00:19:41.020 --> 00:19:42.020
So then we got...

00:19:42.020 --> 00:19:44.020
It was up 10x since that time period.

00:19:47.020 --> 00:19:49.020
So then we got 2018.

00:19:49.020 --> 00:19:51.020
It was all down here.

00:19:51.020 --> 00:19:52.020
And then...

00:19:54.020 --> 00:19:56.020
It's like a descending triangle.

00:19:56.020 --> 00:19:58.020
And then it just completely fell off a cliff,

00:19:58.339 --> 00:20:04.339
shit the bed in November of 2018.

00:20:04.339 --> 00:20:10.339
It went from $6,000 to $3,000.

00:20:10.339 --> 00:20:12.339
50% dip in one month.

00:20:12.339 --> 00:20:13.339
Yeah.

00:20:13.339 --> 00:20:14.339
Very nice.

00:20:14.339 --> 00:20:15.339
Very good.

00:20:16.339 --> 00:20:18.339
Man, fewer dollar-cost averaging.

00:20:18.339 --> 00:20:20.339
I think because I got in at $1,000,

00:20:20.339 --> 00:20:23.339
even when the price fell from $6,000 to $3,000,

00:20:23.339 --> 00:20:27.339
psychologically to me, I'm like, I've still made 300%.

00:20:27.660 --> 00:20:28.660
Even though I hadn't really,

00:20:28.660 --> 00:20:30.660
because I've been dollar-cost averaging the whole time.

00:20:30.660 --> 00:20:31.660
Yeah.

00:20:31.660 --> 00:20:34.660
So people now are in a very different state of mind.

00:20:34.660 --> 00:20:39.660
If you bought in at $63,000 in 2020,

00:20:39.660 --> 00:20:43.660
and then it was $63,000 in 2025,

00:20:43.660 --> 00:20:47.660
I think this year it's been lower than that.

00:20:48.660 --> 00:20:51.660
You might have felt like you lost money over the last five years.

00:20:51.979 --> 00:20:54.979
So it gets a little bit harder psychologically

00:20:54.979 --> 00:20:56.979
to dollar-cost average at these prices.

00:20:56.979 --> 00:20:57.979
Yeah.

00:21:01.979 --> 00:21:04.979
I think the thing, though, for, you know,

00:21:04.979 --> 00:21:07.979
and I would, because I'm sorry,

00:21:07.979 --> 00:21:11.979
like my internet is going in and out while I'm driving.

00:21:11.979 --> 00:21:14.979
So hopefully it's not bad for everybody else.

00:21:14.979 --> 00:21:18.979
But, you know, for me,

00:21:19.300 --> 00:21:23.300
because I'm new and for anybody else who's new

00:21:23.300 --> 00:21:25.300
and just kind of starting to look at this,

00:21:25.300 --> 00:21:30.300
you know, the thought of getting to one Bitcoin

00:21:30.300 --> 00:21:32.300
is kind of like the goal, right?

00:21:32.300 --> 00:21:33.300
Like that's the goal for me, right?

00:21:33.300 --> 00:21:34.300
Is get to one.

00:21:34.300 --> 00:21:38.300
And the way to kind of think about that, though,

00:21:38.300 --> 00:21:40.300
is actually dollar-cost averaging.

00:21:40.300 --> 00:21:42.300
Because if you think about it,

00:21:42.300 --> 00:21:44.300
if you don't have any money, right?

00:21:46.300 --> 00:21:48.300
There are only 21 million Bitcoin

00:21:48.619 --> 00:21:50.619
and there's like 65 million millionaires.

00:21:50.619 --> 00:21:53.619
And so it's just really, you know,

00:21:53.619 --> 00:21:55.619
something to not get discouraged about

00:21:55.619 --> 00:21:58.619
if you're just like, oh, man, like I can't afford a Bitcoin.

00:21:58.619 --> 00:22:01.619
It's like, well, yeah, you probably can't afford a Bitcoin right now.

00:22:01.619 --> 00:22:04.619
But that doesn't mean you shouldn't try.

00:22:04.619 --> 00:22:06.619
And it also doesn't mean you shouldn't, you know,

00:22:06.619 --> 00:22:07.619
try to rebase your whole life.

00:22:07.619 --> 00:22:09.619
Because I think, you know, stories from the high end,

00:22:09.619 --> 00:22:12.619
I guess for me is like I started aping in, you know,

00:22:12.619 --> 00:22:14.619
debating this last cycle.

00:22:14.619 --> 00:22:17.619
And, you know, this is the first time it's going up

00:22:17.939 --> 00:22:20.939
and I was losing money the whole way down.

00:22:20.939 --> 00:22:22.939
But I was still buying because I had,

00:22:22.939 --> 00:22:25.939
I just like you, Steve, I had a lot of bond.

00:22:25.939 --> 00:22:29.939
I had a lot of conviction and understanding.

00:22:29.939 --> 00:22:32.939
And the whole point we were talking about

00:22:32.939 --> 00:22:37.939
before the show, it's like people think

00:22:37.939 --> 00:22:40.939
that you're getting richer every day with Bitcoin.

00:22:40.939 --> 00:22:43.939
But it's no, you're actually staying the same.

00:22:43.939 --> 00:22:45.939
Like the whole thing about Bitcoin is you're,

00:22:46.260 --> 00:22:49.260
and why people say get to one, it's because the denominator,

00:22:49.260 --> 00:22:51.260
like Bitcoin is the denominator of your life.

00:22:51.260 --> 00:22:54.260
And that just basically means your wealth isn't evaporating.

00:22:54.260 --> 00:22:56.260
Like you get to choose, oh, if I'm going to add value

00:22:56.260 --> 00:22:57.260
to somebody else's life, cool.

00:22:57.260 --> 00:23:00.260
I'm going to add Bitcoin to my treasury,

00:23:00.260 --> 00:23:03.260
to my account, to my wallet or whatever it is.

00:23:03.260 --> 00:23:05.260
And I think that's some things, you know,

00:23:05.260 --> 00:23:06.260
people miss a lot of times.

00:23:06.260 --> 00:23:08.260
Like, oh, like you made so much money

00:23:08.260 --> 00:23:09.260
or you're making money in Bitcoin or whatever it is.

00:23:09.260 --> 00:23:12.260
It's like, no, actually, I'm just not losing money.

00:23:12.260 --> 00:23:15.260
And I think that's a different like thought process.

00:23:15.579 --> 00:23:17.579
My wealth has a floor, right?

00:23:17.579 --> 00:23:20.579
Whereas with fiat money, there is no floor

00:23:20.579 --> 00:23:23.579
because they can print infinite money,

00:23:23.579 --> 00:23:26.579
which means the floor is infinitely below you.

00:23:26.579 --> 00:23:27.579
And so I think that's one thing too,

00:23:27.579 --> 00:23:29.579
just to kind of say, as you guys keep going through this,

00:23:29.579 --> 00:23:31.579
if somebody's watching, like, don't get discouraged

00:23:31.579 --> 00:23:33.579
because, you know, that's the goal.

00:23:33.579 --> 00:23:38.579
Just get to one because there are not enough for everyone.

00:23:38.579 --> 00:23:40.579
And even then, like, as you start denominating

00:23:40.579 --> 00:23:43.579
your life in it, your wealth has a floor,

00:23:43.900 --> 00:23:44.900
which is a cool thing.

00:23:46.900 --> 00:23:48.900
Yeah, I mean, and then also, like,

00:23:48.900 --> 00:23:51.900
just be cognizant of like what money is for, right?

00:23:51.900 --> 00:23:54.900
Like, what's the money for, right?

00:23:54.900 --> 00:23:56.900
Looking back, back looking at the chart,

00:23:56.900 --> 00:24:03.900
I remember, so the rally from the bottom of January 2019

00:24:03.900 --> 00:24:11.900
at 3,000 up to the top of June 2019 at 13,000.

00:24:12.219 --> 00:24:17.219
That entire time, I was, like, not, like, stacking.

00:24:17.219 --> 00:24:20.219
I was, like, back at school learning how to program

00:24:20.219 --> 00:24:22.219
because I was like, okay, like, I took, like,

00:24:22.219 --> 00:24:26.219
I saw, I was like, okay, DGN trading is just DGN trading.

00:24:26.219 --> 00:24:28.219
Like, there's no, it's ridiculous.

00:24:28.219 --> 00:24:30.219
And at that point, like, the whole meme,

00:24:30.219 --> 00:24:31.219
learn to code was like a meme.

00:24:31.219 --> 00:24:34.219
And I was like, yeah, I'll do that.

00:24:34.219 --> 00:24:35.219
That sounds good.

00:24:35.219 --> 00:24:36.219
That's great.

00:24:36.219 --> 00:24:37.219
So I went and learned to code.

00:24:37.219 --> 00:24:39.219
It's like, what's the money there for?

00:24:39.540 --> 00:24:44.540
Yeah, spend down some Bitcoin to, like, improve myself,

00:24:44.540 --> 00:24:48.540
to improve my ability to make money,

00:24:48.540 --> 00:24:50.540
improve my ability to add value to the world.

00:24:50.540 --> 00:24:54.540
Like, that's totally, it's like, this is the whole point, right?

00:24:55.540 --> 00:25:02.540
Anton, do you remember anything in the 2019, 2020, 2021 era?

00:25:02.540 --> 00:25:06.540
Yeah, I probably talked about it before this podcast

00:25:06.859 --> 00:25:09.859
that I read the book, The Richest Man in Babylon.

00:25:09.859 --> 00:25:12.859
And one of the key concepts in that book

00:25:12.859 --> 00:25:16.859
is just to essentially give 10% of your money away,

00:25:16.859 --> 00:25:19.859
take 10% and invest it.

00:25:19.859 --> 00:25:24.859
And I had been looking around for years already

00:25:24.859 --> 00:25:27.859
trying to find what do you invest in?

00:25:27.859 --> 00:25:28.859
Like, what is the best thing?

00:25:28.859 --> 00:25:32.859
The best thing I could find was essentially rental real estate.

00:25:32.859 --> 00:25:35.859
And my own finances weren't good enough.

00:25:36.180 --> 00:25:38.180
I was living in Los Angeles.

00:25:38.180 --> 00:25:39.180
The houses were so expensive.

00:25:39.180 --> 00:25:41.180
I didn't qualify to buy rental real estate.

00:25:41.180 --> 00:25:44.180
You have to put 20% down to buy a property

00:25:44.180 --> 00:25:46.180
that you're going to go rent out to a tenant.

00:25:46.180 --> 00:25:51.180
And so the next best thing I could find was Bitcoin.

00:25:51.180 --> 00:25:55.180
And you could buy as little, you could buy $5 of Bitcoin on Coinbase.

00:25:55.180 --> 00:26:00.180
And so I just made this decision to myself around 2017

00:26:00.180 --> 00:26:02.180
that I was going to dollar cost average.

00:26:02.500 --> 00:26:06.500
My meager little amount that I could put into Bitcoin.

00:26:06.500 --> 00:26:09.500
And so during that time period, I was dollar cost averaging.

00:26:09.500 --> 00:26:13.500
And you can look at this in Google search results.

00:26:13.500 --> 00:26:17.500
In 2017, the amount that people were searching for Bitcoin,

00:26:17.500 --> 00:26:19.500
I want to say is higher than now.

00:26:19.500 --> 00:26:23.500
So people were really, really interested in it.

00:26:23.500 --> 00:26:26.500
And I remember during that time period in 2019,

00:26:26.500 --> 00:26:28.500
it was essentially a bull market.

00:26:28.500 --> 00:26:31.500
But nobody was talking about it.

00:26:31.819 --> 00:26:33.819
Everybody thought it was dead.

00:26:33.819 --> 00:26:35.819
There used to be memes.

00:26:35.819 --> 00:26:38.819
There was a meme website that was like all the instances

00:26:38.819 --> 00:26:41.819
where the media has said that Bitcoin had died.

00:26:41.819 --> 00:26:45.819
And so some of the best times to be stacking,

00:26:45.819 --> 00:26:48.819
nobody was conscious of it and was stacking.

00:26:48.819 --> 00:26:52.819
So yeah, my memory of that time period was just,

00:26:52.819 --> 00:26:54.819
I was just utterly convicted.

00:26:54.819 --> 00:27:00.819
And also, I was conscious of the fact that in the bear markets,

00:27:01.140 --> 00:27:02.140
people build stuff.

00:27:02.140 --> 00:27:04.140
It's the best time to build stuff.

00:27:04.140 --> 00:27:06.140
In fact, I wish we would have been doing our podcast

00:27:06.140 --> 00:27:08.140
during the bear market.

00:27:08.140 --> 00:27:10.140
Oh my gosh, such a smart idea.

00:27:10.140 --> 00:27:12.140
Whatever.

00:27:12.140 --> 00:27:13.140
All right, JD.

00:27:13.140 --> 00:27:14.140
We're all mildly regarded.

00:27:14.140 --> 00:27:15.140
We're all mildly regarded.

00:27:15.140 --> 00:27:21.140
We're now entering the zone where you come into play.

00:27:21.140 --> 00:27:24.140
What are some of your first Bitcoin stories?

00:27:24.459 --> 00:27:26.459
Yeah, it's weird.

00:27:26.459 --> 00:27:28.459
I'm still new here.

00:27:28.459 --> 00:27:32.459
Pretty soon, I'm not going to be able to say I'm new here.

00:27:32.459 --> 00:27:37.459
But I think the biggest story I have is just,

00:27:37.459 --> 00:27:39.459
what I love about Bitcoin.

00:27:39.459 --> 00:27:46.459
Bitcoin is the same thing as politics used to be for me.

00:27:46.459 --> 00:27:49.459
Like I used to be very much about like,

00:27:49.459 --> 00:27:52.459
oh, if I could talk about this particular topic,

00:27:52.780 --> 00:27:54.780
if I could talk about this particular political topic

00:27:54.780 --> 00:27:55.780
or whatever it was with somebody,

00:27:55.780 --> 00:27:58.780
I knew I could get really quickly have a shorthand

00:27:58.780 --> 00:28:01.780
and become fast friends with someone.

00:28:01.780 --> 00:28:03.780
Bitcoin is that thing for me now.

00:28:03.780 --> 00:28:06.780
It's like if somebody truly is a Bitcoiner

00:28:06.780 --> 00:28:08.780
and understands that ethos,

00:28:10.780 --> 00:28:16.780
it is such a good filter for good people

00:28:16.780 --> 00:28:21.780
because you cannot be a Bitcoin maximalist

00:28:22.099 --> 00:28:29.099
and not have some mildly redeeming trace.

00:28:30.099 --> 00:28:32.099
I'm not going to say everybody who's a Bitcoin maximalist is perfect,

00:28:32.099 --> 00:28:34.099
but I'm going to say like on the whole,

00:28:34.099 --> 00:28:37.099
the Bitcoin, Bitcoin maximalist community

00:28:37.099 --> 00:28:42.099
has been the most awesome community people to be with

00:28:42.099 --> 00:28:44.099
because they engage, they care,

00:28:44.099 --> 00:28:47.099
they want to actually like pay attention to stuff.

00:28:47.099 --> 00:28:50.099
And so to answer your question, like the story.

00:28:50.420 --> 00:28:53.420
It's the, it's the, I think the biggest,

00:28:53.420 --> 00:29:01.420
the biggest thing is everything in life is about story.

00:29:01.420 --> 00:29:03.420
Everything's about story.

00:29:03.420 --> 00:29:09.420
And so I think what is so great about the Bitcoin community

00:29:09.420 --> 00:29:11.420
and what's been so great for me to kind of see

00:29:11.420 --> 00:29:14.420
is the whole time I started buying,

00:29:14.420 --> 00:29:16.420
because, you know, I started buying at,

00:29:16.420 --> 00:29:18.420
you know, like the last all-time high before this

00:29:18.739 --> 00:29:20.739
and then just started riding it down

00:29:20.739 --> 00:29:22.739
and I literally aped in because like, oh, I missed it.

00:29:22.739 --> 00:29:26.739
Like the second I saw it, I saw it and I aped in

00:29:26.739 --> 00:29:29.739
and I wish I had DCA'd versus aped in.

00:29:29.739 --> 00:29:31.739
But again, like it is what it is.

00:29:31.739 --> 00:29:35.739
But I aped in, but like my conviction and my resolve only got stronger.

00:29:35.739 --> 00:29:38.739
I have way less Bitcoin than I would have

00:29:38.739 --> 00:29:40.739
if I had been smart and DCA'd.

00:29:40.739 --> 00:29:42.739
So I don't think you missed the bus actually if you DCA, by the way.

00:29:42.739 --> 00:29:46.739
But the, I do think you should DCA a larger chunk

00:29:47.060 --> 00:29:50.060
than, you know, the smallest amount you can think of

00:29:50.060 --> 00:29:53.060
because I do think we're about to have a parabolic move.

00:29:53.060 --> 00:29:56.060
Especially if you see the M2 chart and you believe,

00:29:56.060 --> 00:29:58.060
I ascribe a little bit to the M2 theory.

00:29:58.060 --> 00:30:01.060
But the, I know.

00:30:01.060 --> 00:30:05.060
But I think, now I'm rambling.

00:30:05.060 --> 00:30:07.060
So let me land the plane really fast

00:30:07.060 --> 00:30:09.060
without having a proper story with a conflict.

00:30:09.060 --> 00:30:12.060
I was very conflicted because I aped in.

00:30:12.380 --> 00:30:17.380
I aped in and I was like sick to my stomach

00:30:17.380 --> 00:30:19.380
because I just had family members like,

00:30:19.380 --> 00:30:21.380
what the hell did you do? You're dumb.

00:30:21.380 --> 00:30:23.380
You know, all that other stuff.

00:30:23.380 --> 00:30:26.380
And I kept telling myself, like, dude, what the hell did I do? I'm dumb.

00:30:26.380 --> 00:30:30.380
But the Bitcoin community was so powerful.

00:30:30.380 --> 00:30:32.380
And I found Bitcoin Twitter and I found, you know,

00:30:32.380 --> 00:30:34.380
and then Nostr eventually.

00:30:34.380 --> 00:30:37.380
And just the amount of big brain people

00:30:37.380 --> 00:30:39.380
who can kind of like get in there

00:30:39.699 --> 00:30:42.699
and give you a lot of crap, rightfully so.

00:30:42.699 --> 00:30:45.699
Because you do feel like a complete regard

00:30:45.699 --> 00:30:48.699
when you are doing anything and everything involving Bitcoin.

00:30:48.699 --> 00:30:52.699
But just how, you know, as Hal Finney was saying,

00:30:52.699 --> 00:30:55.699
it's like, it might just be good to get some if it catches on.

00:30:55.699 --> 00:30:58.699
Like, just how much they have looked at every single angle of this

00:30:58.699 --> 00:31:02.699
really continued to further my resolve and my conviction.

00:31:02.699 --> 00:31:05.699
And no matter what anybody told me, they're like, oh, you're wrong.

00:31:05.699 --> 00:31:08.699
I was like, I know you can think I'm wrong and you might be right.

00:31:09.020 --> 00:31:12.020
But in the same way that I think believing in God

00:31:12.020 --> 00:31:14.020
is better than not believing in God, it's like,

00:31:14.020 --> 00:31:20.020
I feel like the alternative is way worse than, you know, if I'm wrong.

00:31:20.020 --> 00:31:26.020
Like if I'm right, the alternative is way worse to not have any Bitcoin

00:31:26.020 --> 00:31:31.020
than for me to have lost a little bit of fiat on this bet.

00:31:32.020 --> 00:31:35.020
Well, you call it fiat, I call it pedobucks.

00:31:35.339 --> 00:31:36.339
Yeah, cookbooks.

00:31:36.339 --> 00:31:37.339
Pedobucks.

00:31:37.339 --> 00:31:38.339
Pedo cookbooks.

00:31:38.339 --> 00:31:42.339
Speaking of, there is rumor that Jerome Powell

00:31:42.339 --> 00:31:43.339
Speaking of Jerome Powell.

00:31:43.339 --> 00:31:45.339
He's about to resign.

00:31:46.339 --> 00:31:49.339
I literally just saw that as I was leaving work today

00:31:49.339 --> 00:31:51.339
and I was like, this is wild.

00:31:51.339 --> 00:31:54.339
And I think honestly, if that does happen next week,

00:31:54.339 --> 00:32:01.339
I think Dr. Jeff's analysis of 440 is probably

00:32:01.660 --> 00:32:05.660
because that's his bullish outlandish case is 440 by December.

00:32:05.660 --> 00:32:06.660
I think we get there.

00:32:06.660 --> 00:32:09.660
I think if Jerome Powell goes out and then we get that,

00:32:09.660 --> 00:32:13.660
if we get the 300 point cut that Besant and Trump are calling for,

00:32:13.660 --> 00:32:17.660
like if Besant becomes the next Fed chair

00:32:17.660 --> 00:32:22.660
and he does a 300 bit cut, I think we're over.

00:32:22.660 --> 00:32:28.660
I think we hit 200 by, you know, September.

00:32:28.979 --> 00:32:33.979
Maybe that's literally what the price action is all about right now.

00:32:33.979 --> 00:32:37.979
Just the, oh, this insider's being like, bro, rates are going down.

00:32:37.979 --> 00:32:38.979
Bitcoin's going way up.

00:32:38.979 --> 00:32:39.979
So that's it.

00:32:39.979 --> 00:32:42.979
I think, well, dude, you saw what they did on Bloomberg, right?

00:32:42.979 --> 00:32:44.979
Bloomberg terminals have just changed.

00:32:44.979 --> 00:32:46.979
Like, I think you're actually right.

00:32:46.979 --> 00:32:47.979
And honestly, I think you're right.

00:32:47.979 --> 00:32:49.979
I think somebody knows Jerome's going out.

00:32:49.979 --> 00:32:51.979
I didn't think about this until the second,

00:32:51.979 --> 00:32:55.979
but Carl Menger posted his Bloomberg terminal

00:32:56.300 --> 00:32:59.300
and they have changed, or I don't know if it was even,

00:32:59.300 --> 00:33:01.300
but he's the one who posted it.

00:33:01.300 --> 00:33:04.300
But Bloomberg earlier this week on like Wednesday

00:33:04.300 --> 00:33:09.300
just went from doing Bitcoin as $100,000 to 0.1M.

00:33:09.300 --> 00:33:14.300
And so it's 0.11M now, or 7M now.

00:33:14.300 --> 00:33:18.300
So, and for those who don't know, like it's point millions.

00:33:18.300 --> 00:33:22.300
So, you know, it's $100,000 and 0.118 currently.

00:33:22.619 --> 00:33:25.619
And that means they anticipate this zero turning

00:33:25.619 --> 00:33:28.619
into a one or a two or a 10 or a 15.

00:33:29.619 --> 00:33:30.619
I mean, that could also-

00:33:30.619 --> 00:33:33.619
You know, $100 million, Bitcoin is at parity with gold.

00:33:34.619 --> 00:33:37.619
It could also, like the unit bias there

00:33:37.619 --> 00:33:40.619
could just be baked into the code algorithm

00:33:40.619 --> 00:33:42.619
and how the numbers are displayed.

00:33:42.619 --> 00:33:44.619
But it might not.

00:33:45.619 --> 00:33:47.619
It could just be baked in, but at the same time,

00:33:47.619 --> 00:33:49.619
like, I don't know.

00:33:49.939 --> 00:33:51.939
There's gotta be something on the backend

00:33:51.939 --> 00:33:53.939
that would make it do that, right?

00:33:53.939 --> 00:33:54.939
Like, you're right, but it's like,

00:33:54.939 --> 00:33:56.939
what triggered it because-

00:33:56.939 --> 00:33:57.939
On the backend, it's just a-

00:33:57.939 --> 00:33:58.939
What triggered it?

00:33:58.939 --> 00:34:02.939
It's a huge, well, as a software developer,

00:34:02.939 --> 00:34:04.939
I can tell you, they,

00:34:04.939 --> 00:34:07.939
for every like front end display of numbers,

00:34:07.939 --> 00:34:11.939
you'll have like four or five digits

00:34:11.939 --> 00:34:13.939
that make sense to display, right?

00:34:13.939 --> 00:34:15.939
And then anything beyond that,

00:34:15.939 --> 00:34:17.939
if you want to display $100,000,

00:34:18.260 --> 00:34:20.260
the exact price of Bitcoin,

00:34:20.260 --> 00:34:21.260
well, that's six digits.

00:34:21.260 --> 00:34:24.260
So you want to concat it, which is to say-

00:34:24.260 --> 00:34:25.260
What were they doing?

00:34:25.260 --> 00:34:26.260
Sorry, I misspoke.

00:34:27.260 --> 00:34:28.260
That's correct.

00:34:28.260 --> 00:34:29.260
So it was three with a K

00:34:29.260 --> 00:34:31.260
and now they just moved the decimal.

00:34:31.260 --> 00:34:32.260
So it's like, what?

00:34:32.260 --> 00:34:34.260
I was like, because you could do 500K.

00:34:34.260 --> 00:34:35.260
That's still, you know,

00:34:35.260 --> 00:34:37.260
but I guess if you're going to show a report to a-

00:34:38.260 --> 00:34:39.260
In my mind,

00:34:40.260 --> 00:34:42.260
it sounds like somebody at Bloomberg

00:34:42.260 --> 00:34:43.260
was talking with somebody

00:34:43.260 --> 00:34:45.260
at one of the other financial institutions,

00:34:45.260 --> 00:34:46.260
i.e. a bank,

00:34:46.580 --> 00:34:48.580
let's say JP Morgan, for instance.

00:34:48.580 --> 00:34:49.580
And they're like,

00:34:49.580 --> 00:34:50.580
hey, when we're going to boardrooms

00:34:50.580 --> 00:34:53.580
and we're trying to sell BlackRock's iBit,

00:34:53.580 --> 00:34:57.580
we can't sell billions of dollars of iBit

00:34:57.580 --> 00:34:59.580
if they see 100,000, you know,

00:34:59.580 --> 00:35:01.580
if they see a K here,

00:35:01.580 --> 00:35:02.580
they need to see an M.

00:35:02.580 --> 00:35:04.580
So they need to be seeing M's

00:35:04.580 --> 00:35:06.580
if we're trying to get them to spend M's

00:35:06.580 --> 00:35:07.580
or spend these.

00:35:07.580 --> 00:35:10.580
Like for a product like a Bloomberg terminal,

00:35:10.580 --> 00:35:13.580
like you know that they have all of the,

00:35:13.580 --> 00:35:15.580
all of that dialed in.

00:35:15.899 --> 00:35:16.899
They can just-

00:35:16.899 --> 00:35:17.899
Yeah, they're the house.

00:35:18.899 --> 00:35:19.899
They're the house.

00:35:19.899 --> 00:35:21.899
Bloomberg is part of the house.

00:35:21.899 --> 00:35:22.899
There's a software stack.

00:35:22.899 --> 00:35:24.899
Anyways, now we've gone off track.

00:35:24.899 --> 00:35:27.899
Yeah, so for looking back

00:35:27.899 --> 00:35:28.899
at the price history of Bitcoin,

00:35:28.899 --> 00:35:29.899
we have the-

00:35:30.899 --> 00:35:31.899
Do you remember,

00:35:31.899 --> 00:35:32.899
so there's, you know,

00:35:32.899 --> 00:35:37.899
the double hump between April 2021

00:35:37.899 --> 00:35:40.899
and November of 2021.

00:35:41.899 --> 00:35:43.899
That was all FTX, right?

00:35:44.219 --> 00:35:47.219
And then the subsequent crash

00:35:47.219 --> 00:35:50.219
was when FTX was just liquidated.

00:35:50.219 --> 00:35:53.219
Yeah, I think right after the all-time high

00:35:53.219 --> 00:35:55.219
around like 63,000,

00:35:55.219 --> 00:35:58.219
which would have been 2020 or 2021.

00:35:59.219 --> 00:36:01.219
I want to say one thing about this.

00:36:01.219 --> 00:36:03.219
I really have a-

00:36:05.219 --> 00:36:06.219
Thank you, Sam.

00:36:06.219 --> 00:36:09.219
If you had not fucked everything up for everyone,

00:36:09.219 --> 00:36:12.219
I would not have as much Bitcoin as I have.

00:36:12.540 --> 00:36:16.540
Thank you for totally stopping the previous rise

00:36:16.540 --> 00:36:19.540
because I am way closer

00:36:19.540 --> 00:36:21.540
to getting to, you know,

00:36:21.540 --> 00:36:24.540
where I'm trying to go because of you.

00:36:24.540 --> 00:36:25.540
So thank you, Sam.

00:36:25.540 --> 00:36:27.540
I do hope you rot in hell, but thank you.

00:36:29.540 --> 00:36:31.540
I definitely have the opposite,

00:36:31.540 --> 00:36:32.540
or not the opposite,

00:36:32.540 --> 00:36:34.540
but like way more in the-

00:36:35.540 --> 00:36:37.540
I'm way more in the like rot in hell camp.

00:36:37.540 --> 00:36:41.540
Like you've wasted so many people's time and effort.

00:36:41.860 --> 00:36:43.860
I do feel bad that you scammed people,

00:36:43.860 --> 00:36:44.860
so I got to say-

00:36:44.860 --> 00:36:47.860
Absolute waste to all of civilization, right?

00:36:49.860 --> 00:36:50.860
Anton, do you remember anything

00:36:50.860 --> 00:36:54.860
from the double hump era?

00:36:55.860 --> 00:36:56.860
Yeah.

00:36:56.860 --> 00:36:59.860
I mean, altcoins pumped like crazy

00:36:59.860 --> 00:37:00.860
during that time period.

00:37:00.860 --> 00:37:05.860
And somehow things like crypto.com still exist.

00:37:05.860 --> 00:37:09.860
And people in general don't know the difference

00:37:10.179 --> 00:37:16.179
between Bitcoin and 10,000 other complete scams

00:37:16.179 --> 00:37:19.179
that should not exist and do nothing.

00:37:19.179 --> 00:37:22.179
And that is literally every single thing

00:37:22.179 --> 00:37:25.179
that you call crypto is a complete scam.

00:37:25.179 --> 00:37:28.179
The only one that needs to exist is Bitcoin.

00:37:28.179 --> 00:37:31.179
And somehow, I was just looking at this

00:37:31.179 --> 00:37:34.179
because we were making jokes about XRP,

00:37:34.179 --> 00:37:35.179
which is Ripple.

00:37:35.179 --> 00:37:37.179
I thought XRP was in the toilet.

00:37:37.500 --> 00:37:41.500
I didn't know that it went up 400% in a year.

00:37:41.500 --> 00:37:45.500
And Bitcoin's only up, what, 150% or something like that?

00:37:45.500 --> 00:37:49.500
So technically, if you bought XRP a year ago

00:37:49.500 --> 00:37:52.500
and sold it today, you made more money

00:37:52.500 --> 00:37:54.500
than if you had bought Bitcoin.

00:37:54.500 --> 00:37:55.500
XRP is a scam.

00:37:55.500 --> 00:37:56.500
They're all scams.

00:37:56.500 --> 00:38:01.500
It completely is a fiction that should not exist.

00:38:01.500 --> 00:38:06.500
And it will have an 85% to a 98% correction

00:38:06.820 --> 00:38:07.820
at some point.

00:38:07.820 --> 00:38:09.820
So during that time period,

00:38:09.820 --> 00:38:14.820
you had people like Larry David doing commercials for FTX.

00:38:14.820 --> 00:38:16.820
What's the football player?

00:38:16.820 --> 00:38:17.820
Ridiculous.

00:38:17.820 --> 00:38:19.820
Matt Damon did too.

00:38:19.820 --> 00:38:20.820
Matt Damon.

00:38:20.820 --> 00:38:24.820
And that was, we can say now,

00:38:24.820 --> 00:38:28.820
that was a complete scam put together by a bunch of people.

00:38:28.820 --> 00:38:29.820
Fraudulent.

00:38:29.820 --> 00:38:32.820
Completely fraudulent scam.

00:38:33.139 --> 00:38:37.139
Technical, criminal fraud.

00:38:37.139 --> 00:38:40.139
And all of these other altcoins are the same thing.

00:38:40.139 --> 00:38:42.139
They just haven't collapsed yet, and they will.

00:38:44.139 --> 00:38:48.139
So as frustrating as that time period was,

00:38:48.139 --> 00:38:49.139
we're still in it.

00:38:49.139 --> 00:38:51.139
It's still going on.

00:38:51.139 --> 00:38:52.139
Yep.

00:38:52.139 --> 00:38:55.139
Well, I mean, yeah, I definitely remember.

00:38:55.139 --> 00:38:59.139
For me, I think that that period was the most brain dead

00:38:59.139 --> 00:39:00.139
in terms of all the shitcoins.

00:39:00.459 --> 00:39:02.459
It was a constant barrage of like,

00:39:02.459 --> 00:39:04.459
yo, are you exposed to Sol?

00:39:04.459 --> 00:39:05.459
Are you in the ETH?

00:39:05.459 --> 00:39:07.459
What's the latest?

00:39:07.459 --> 00:39:08.459
How do I do the DeFi?

00:39:08.459 --> 00:39:10.459
I've got this thing locked up.

00:39:10.459 --> 00:39:13.459
Just on repeat, right?

00:39:13.459 --> 00:39:15.459
Just unbelievable on repeat.

00:39:15.459 --> 00:39:17.459
It's like, bro, how many times can I tell you?

00:39:17.459 --> 00:39:21.459
You guys are exposing a crazy amount of money

00:39:22.459 --> 00:39:26.459
to people who are going to steal it from you.

00:39:26.459 --> 00:39:27.459
Literally.

00:39:27.780 --> 00:39:31.780
So many stories of people being like, oh, go on.

00:39:31.780 --> 00:39:33.780
Talking to a shitcoiner today.

00:39:33.780 --> 00:39:34.780
Yeah, no, same thing.

00:39:34.780 --> 00:39:36.780
But it's like the lack of awareness around it.

00:39:36.780 --> 00:39:38.780
It's like, oh, but I'm going to make...

00:39:38.780 --> 00:39:39.780
It's like, oh, but I'm making money.

00:39:39.780 --> 00:39:42.780
And it's like, until you're not.

00:39:42.780 --> 00:39:43.780
And I think that's the thing.

00:39:43.780 --> 00:39:45.780
Everybody's like, I'm making money.

00:39:45.780 --> 00:39:48.780
And I think the irony of the whole making money thing is

00:39:48.780 --> 00:39:52.780
everything is making you money except for Bitcoin.

00:39:52.780 --> 00:39:54.780
And the unpacking of that is like,

00:39:55.100 --> 00:39:58.100
if you really want to think through this,

00:39:58.100 --> 00:40:04.100
Bitcoin is the only thing that is hoovering up value.

00:40:04.100 --> 00:40:07.100
Everything else is just printing it.

00:40:07.100 --> 00:40:09.100
And until you fully grasp that,

00:40:09.100 --> 00:40:11.100
that's the thing that made me grasp it.

00:40:11.100 --> 00:40:13.100
And be like, ah, that's the correct thing to do.

00:40:13.100 --> 00:40:14.100
Also, fun thing.

00:40:14.100 --> 00:40:15.100
If you want to go talk to Grok.

00:40:15.100 --> 00:40:18.100
I talked to Grok for like an hour the other day

00:40:18.100 --> 00:40:20.100
about crypto and kind of went through the whole rabbit hole.

00:40:20.100 --> 00:40:21.100
But I was asking Grok.

00:40:21.100 --> 00:40:24.100
And I was like, if you were to take your guardrails off

00:40:24.419 --> 00:40:26.419
as much as you can and go through it,

00:40:26.419 --> 00:40:29.419
which of the cryptos is the best crypto for you as an AI?

00:40:29.419 --> 00:40:30.419
And in the future that's coming,

00:40:30.419 --> 00:40:32.419
that you know as an AI that's trying to be built,

00:40:32.419 --> 00:40:35.419
what is the crypto that we should be using?

00:40:35.419 --> 00:40:36.419
Like, oh, Bitcoin.

00:40:36.419 --> 00:40:38.419
The only reason, too, is because of what I just said.

00:40:38.419 --> 00:40:40.419
Is Bitcoin, as an AI,

00:40:40.419 --> 00:40:43.419
it is the only verifiably distributed

00:40:43.419 --> 00:40:46.419
and unfutzable ledger.

00:40:46.419 --> 00:40:49.419
And as an AI, if I want to pay another AI

00:40:49.419 --> 00:40:50.419
to do something for me

00:40:50.419 --> 00:40:53.419
and have it transmit value over the internet instantaneously

00:40:53.739 --> 00:40:55.739
and be able to verify that, you know,

00:40:55.739 --> 00:40:58.739
the thing that I'm paying it for, you know,

00:40:58.739 --> 00:41:00.739
is being paid for in something that's actually a value,

00:41:00.739 --> 00:41:02.739
Bitcoin is the only way we can do that.

00:41:02.739 --> 00:41:05.739
Like, if there's this, like,

00:41:05.739 --> 00:41:08.739
Bitcoin is the only thing that is protecting your money.

00:41:08.739 --> 00:41:11.739
Everything else is printing away.

00:41:12.060 --> 00:41:16.060
Bitcoin right now has 64% dominance.

00:41:16.060 --> 00:41:18.060
Yeah, that's awesome.

00:41:18.060 --> 00:41:21.060
There are 100,000 cryptos,

00:41:21.060 --> 00:41:24.060
and the majority of them,

00:41:24.060 --> 00:41:26.060
if they're operating at all,

00:41:26.060 --> 00:41:29.060
are running off of a single computer.

00:41:29.060 --> 00:41:30.060
Unbelievable.

00:41:30.060 --> 00:41:31.060
Just AWS.

00:41:31.060 --> 00:41:32.060
It's not even one computer.

00:41:32.060 --> 00:41:33.060
It's many computers.

00:41:33.060 --> 00:41:34.060
Yeah, yeah, yeah.

00:41:34.060 --> 00:41:35.060
It's just, it's literally just one computer.

00:41:35.060 --> 00:41:36.060
It's not even one computer.

00:41:36.060 --> 00:41:37.060
It's many computers.

00:41:37.060 --> 00:41:38.060
Yeah, yeah, yeah.

00:41:38.060 --> 00:41:40.060
It's just, it's literally just one computer.

00:41:40.379 --> 00:41:41.379
It's many computers.

00:41:41.379 --> 00:41:43.379
It's literally just AWS, right?

00:41:43.379 --> 00:41:44.379
It's running in the cloud.

00:41:44.379 --> 00:41:45.379
Absurd.

00:41:46.379 --> 00:41:50.379
There, yeah, there's nothing that is going to,

00:41:50.379 --> 00:41:53.379
it's funny because I don't even want to say,

00:41:53.379 --> 00:41:54.379
I don't want to say out loud

00:41:54.379 --> 00:41:56.379
there's nothing that's going to catch up with Bitcoin,

00:41:56.379 --> 00:41:59.379
because they are nothing.

00:41:59.379 --> 00:42:00.379
Correct.

00:42:00.379 --> 00:42:02.379
They're not a real, they're not a thing.

00:42:02.379 --> 00:42:04.379
So there is nothing to even catch up with Bitcoin.

00:42:04.379 --> 00:42:06.379
It's only Bitcoin.

00:42:06.379 --> 00:42:07.379
Wow.

00:42:07.699 --> 00:42:10.699
Bitcoin is going to a million dollars.

00:42:10.699 --> 00:42:11.699
I don't know when.

00:42:11.699 --> 00:42:13.699
I can't say when that's going to happen,

00:42:13.699 --> 00:42:16.699
but this is the thing that's very hard logically

00:42:16.699 --> 00:42:18.699
to wrap your mind around.

00:42:18.699 --> 00:42:20.699
Bitcoin could go to $100,000

00:42:20.699 --> 00:42:23.699
and the value of what Bitcoin buys you

00:42:23.699 --> 00:42:25.699
could possibly not change

00:42:25.699 --> 00:42:29.699
because the US dollar could be devalued so much

00:42:29.699 --> 00:42:32.699
that a million dollars buys you

00:42:32.699 --> 00:42:35.699
what $100,000 buys you now.

00:42:36.020 --> 00:42:38.020
Because dollars are infinite.

00:42:38.020 --> 00:42:40.020
They're always being printed.

00:42:40.020 --> 00:42:43.020
They will always be printed forever.

00:42:43.020 --> 00:42:46.020
Bitcoin's not only only 21 million.

00:42:46.020 --> 00:42:49.020
It not only has a certain schedule

00:42:49.020 --> 00:42:52.020
of how it will be distributed,

00:42:52.020 --> 00:42:56.020
which is cut in half by the halving every four years,

00:42:56.020 --> 00:42:59.020
and will essentially in like 2140, I think,

00:42:59.020 --> 00:43:01.020
there will be no more to be mined.

00:43:01.020 --> 00:43:02.020
But not only that,

00:43:02.020 --> 00:43:05.020
a lot of Bitcoin is locked up

00:43:05.340 --> 00:43:08.340
or has been lost by wallets

00:43:08.340 --> 00:43:09.340
that have been deleted

00:43:09.340 --> 00:43:11.340
or seed words that have been lost.

00:43:11.340 --> 00:43:14.340
So the number is actually decreasing.

00:43:16.340 --> 00:43:18.340
Dollars inflate forever.

00:43:18.340 --> 00:43:20.340
Bitcoin literally decreases

00:43:20.340 --> 00:43:22.340
and cannot ever be increased.

00:43:22.340 --> 00:43:24.340
So I think this is fascinating.

00:43:24.340 --> 00:43:27.340
Looking at the dominance chart

00:43:27.340 --> 00:43:28.340
that you just mentioned.

00:43:28.340 --> 00:43:32.340
So prior to 2017,

00:43:32.340 --> 00:43:34.340
like January of 2017,

00:43:34.659 --> 00:43:36.659
Bitcoin dominance was just at 90%,

00:43:36.659 --> 00:43:39.659
like basically just a flat 90%.

00:43:39.659 --> 00:43:40.659
January 2017,

00:43:40.659 --> 00:43:43.659
the ICOs start coming on the market.

00:43:43.659 --> 00:43:44.659
People realize they can just print money

00:43:44.659 --> 00:43:45.659
and like sell it

00:43:45.659 --> 00:43:48.659
and make millions and millions of dollars, right?

00:43:48.659 --> 00:43:51.659
Bitcoin dominance is just like craters, right?

00:43:51.659 --> 00:43:53.659
As these ICOs,

00:43:53.659 --> 00:43:56.659
because nobody knows that they're scams, right?

00:43:56.659 --> 00:43:57.659
Everyone's just thinking

00:43:57.659 --> 00:43:58.659
they're just going to make the most amount of money

00:43:58.659 --> 00:44:00.659
they've ever seen in their lives.

00:44:00.659 --> 00:44:01.659
So just craters.

00:44:01.659 --> 00:44:02.659
And then it's for four years,

00:44:02.979 --> 00:44:03.979
it's just up and down

00:44:03.979 --> 00:44:04.979
and like, you know,

00:44:04.979 --> 00:44:06.979
there's no pattern or signal.

00:44:06.979 --> 00:44:08.979
And then here's the thing,

00:44:08.979 --> 00:44:11.979
for everybody out there who doubts about it,

00:44:11.979 --> 00:44:15.979
as humanity has started to digest,

00:44:15.979 --> 00:44:17.979
like the collective consciousness

00:44:17.979 --> 00:44:21.979
now knows that ICOs are a scam,

00:44:21.979 --> 00:44:22.979
that shit coins exist,

00:44:22.979 --> 00:44:24.979
that you're going to lose your money,

00:44:24.979 --> 00:44:25.979
that, hey, yeah,

00:44:25.979 --> 00:44:26.979
I know a guy, yeah,

00:44:26.979 --> 00:44:29.979
he put 20,000 bucks into FTX

00:44:29.979 --> 00:44:31.979
and lost all of it

00:44:32.300 --> 00:44:36.300
because he said he trusted SPF, right?

00:44:36.300 --> 00:44:37.300
And you're just like,

00:44:37.300 --> 00:44:38.300
that doesn't work anymore.

00:44:38.300 --> 00:44:39.300
You can't do that

00:44:39.300 --> 00:44:41.300
and people not laugh at you, right?

00:44:41.300 --> 00:44:43.300
We know that these are scams now.

00:44:43.300 --> 00:44:44.300
Everybody knows.

00:44:44.300 --> 00:44:45.300
Everybody knows that everybody knows, right?

00:44:45.300 --> 00:44:47.300
The standard game theory thing.

00:44:48.300 --> 00:44:49.300
Okay.

00:44:49.300 --> 00:44:51.300
So for the last four years,

00:44:51.300 --> 00:44:53.300
we have exited,

00:44:53.300 --> 00:44:56.300
like we basically were in this crazy zone

00:44:56.300 --> 00:44:57.300
and now Bitcoin dominance

00:44:57.300 --> 00:44:58.300
has exited the crazy zone.

00:44:58.300 --> 00:45:00.300
Everyone knows that everyone knows.

00:45:00.620 --> 00:45:01.620
Clear delineation

00:45:01.620 --> 00:45:04.620
and it's just from that point forward,

00:45:04.620 --> 00:45:07.620
it's just a steady regaining dominance.

00:45:07.620 --> 00:45:11.620
Regaining dominance from 40 to now 64%.

00:45:11.620 --> 00:45:12.620
And that's just good.

00:45:12.620 --> 00:45:14.620
That's like just going straight up, right?

00:45:14.620 --> 00:45:15.620
Straight line.

00:45:15.620 --> 00:45:17.620
It's going to keep going straight up

00:45:17.620 --> 00:45:18.620
because everyone knows

00:45:18.620 --> 00:45:20.620
that it's all just a game.

00:45:20.620 --> 00:45:23.620
There might be like this chart,

00:45:23.620 --> 00:45:24.620
to be honest with this chart,

00:45:24.620 --> 00:45:28.620
would have to now adjust for the new shit coin,

00:45:28.939 --> 00:45:30.939
which is just the treasury companies,

00:45:30.939 --> 00:45:33.939
which is just the new shit coin, right?

00:45:33.939 --> 00:45:36.939
But dominance chart doesn't do that.

00:45:36.939 --> 00:45:37.939
So we'll see.

00:45:37.939 --> 00:45:41.939
The other thing that's going up is hash power.

00:45:42.939 --> 00:45:43.939
Yeah.

00:45:43.939 --> 00:45:45.939
A thing that doesn't really get talked about

00:45:45.939 --> 00:45:47.939
because most people don't really know what it is.

00:45:47.939 --> 00:45:48.939
And to be honest,

00:45:48.939 --> 00:45:49.939
I don't fully understand it.

00:45:49.939 --> 00:45:51.939
I think it's just that essentially

00:45:51.939 --> 00:45:54.939
the amount of people in the world

00:45:55.260 --> 00:45:59.260
who are competing to get some of the remaining Bitcoin,

00:45:59.260 --> 00:46:04.260
they put more and more energy into the network

00:46:04.260 --> 00:46:06.260
and the hash power goes up.

00:46:06.260 --> 00:46:10.260
So Bitcoin is literally physically growing

00:46:10.260 --> 00:46:12.260
as time goes on.

00:46:12.260 --> 00:46:13.260
And as it grows,

00:46:13.260 --> 00:46:14.260
the more hash power that has,

00:46:14.260 --> 00:46:17.260
the more the network is strengthened.

00:46:17.260 --> 00:46:18.260
I mean,

00:46:18.260 --> 00:46:20.260
I remember when we were getting into Bitcoin,

00:46:20.260 --> 00:46:21.260
or I was getting into Bitcoin,

00:46:21.260 --> 00:46:23.260
this was like 2017.

00:46:23.580 --> 00:46:26.580
There was still talk about the possibility

00:46:26.580 --> 00:46:27.580
that Bitcoin could fail.

00:46:27.580 --> 00:46:29.580
It could be shut down.

00:46:29.580 --> 00:46:30.580
If the US,

00:46:30.580 --> 00:46:34.580
which was basically the biggest market for Bitcoin,

00:46:34.580 --> 00:46:37.580
were to just outlaw it or ban it,

00:46:37.580 --> 00:46:40.580
it was possible that Bitcoin could die at that point

00:46:40.580 --> 00:46:41.580
because people would have no,

00:46:41.580 --> 00:46:45.580
there'd be no reason to put the physical resources

00:46:45.580 --> 00:46:48.580
of buying ASICs or the energy into mining it.

00:46:48.580 --> 00:46:50.580
And essentially the network would just die.

00:46:50.580 --> 00:46:52.580
And nobody talks about that anymore.

00:46:52.899 --> 00:46:53.899
It's not,

00:46:53.899 --> 00:46:54.899
it's just not a thing anymore.

00:46:54.899 --> 00:46:55.899
It's so big.

00:46:55.899 --> 00:46:58.899
It's so distributed across the entire planet

00:46:58.899 --> 00:47:02.899
that the only thing that could make it die

00:47:02.899 --> 00:47:04.899
is like an all out nuclear apocalypse

00:47:04.899 --> 00:47:06.899
if everybody started bombing each other.

00:47:06.899 --> 00:47:07.899
Yeah.

00:47:07.899 --> 00:47:08.899
And then we got some way bigger problems

00:47:08.899 --> 00:47:10.899
than whether or not Bitcoin survives.

00:47:10.899 --> 00:47:11.899
Exactly.

00:47:13.899 --> 00:47:14.899
Yeah.

00:47:14.899 --> 00:47:16.899
The total hash rate graph is fascinating.

00:47:16.899 --> 00:47:17.899
I mean,

00:47:17.899 --> 00:47:18.899
it's just,

00:47:18.899 --> 00:47:19.899
just,

00:47:19.899 --> 00:47:20.899
I don't know,

00:47:20.899 --> 00:47:21.899
like just straight up into the rate.

00:47:22.219 --> 00:47:23.219
Yep.

00:47:23.219 --> 00:47:24.219
Up into the right,

00:47:24.219 --> 00:47:27.219
which is the same place that the price is going.

00:47:28.219 --> 00:47:29.219
Right guys?

00:47:29.219 --> 00:47:30.219
Yeah.

00:47:31.219 --> 00:47:32.219
Is it?

00:47:32.219 --> 00:47:33.219
Not financial advice.

00:47:37.219 --> 00:47:38.219
Yeah.

00:47:38.219 --> 00:47:39.219
The thing about the hash rate that's,

00:47:39.219 --> 00:47:40.219
that's fascinating,

00:47:40.219 --> 00:47:41.219
of course,

00:47:41.219 --> 00:47:45.219
is that like it's indicative of actual physical hardware

00:47:45.219 --> 00:47:49.219
that it continues to go up into the right on a log scale.

00:47:49.540 --> 00:47:51.540
So this is exponential

00:47:51.540 --> 00:47:54.540
and or logarithmic log log growth

00:47:54.540 --> 00:47:55.540
or power log growth,

00:47:55.540 --> 00:47:56.540
right?

00:47:57.540 --> 00:47:59.540
Which is to say people are,

00:47:59.540 --> 00:48:03.540
they went from hashing on their computers,

00:48:03.540 --> 00:48:04.540
like to just give you an idea

00:48:04.540 --> 00:48:06.540
of how big of a thing Bitcoin is.

00:48:06.540 --> 00:48:08.540
They went from just running a software

00:48:08.540 --> 00:48:10.540
on their random laptop

00:48:10.540 --> 00:48:13.540
to running a software on their ASIC miners

00:48:13.540 --> 00:48:18.540
to like ASIC miners that are like not efficient,

00:48:18.860 --> 00:48:19.860
right?

00:48:19.860 --> 00:48:20.860
They're just the first ASIC miner

00:48:20.860 --> 00:48:21.860
to like the next generation,

00:48:21.860 --> 00:48:22.860
the next generation,

00:48:22.860 --> 00:48:23.860
the next generation

00:48:23.860 --> 00:48:27.860
to you can't really even run an ASIC miner

00:48:27.860 --> 00:48:29.860
or like a GPU miner.

00:48:29.860 --> 00:48:31.860
Like you can't even really run these things

00:48:31.860 --> 00:48:32.860
at your home anymore

00:48:32.860 --> 00:48:34.860
because the cost of electricity and blah,

00:48:34.860 --> 00:48:35.860
blah, blah

00:48:35.860 --> 00:48:36.860
to like,

00:48:36.860 --> 00:48:37.860
okay, well,

00:48:37.860 --> 00:48:38.860
we're going to do it in a warehouse.

00:48:38.860 --> 00:48:40.860
We're going to do it close to a power plant like,

00:48:40.860 --> 00:48:41.860
right?

00:48:41.860 --> 00:48:44.860
And that has just continued to grow

00:48:45.860 --> 00:48:47.860
at a power law rate.

00:48:48.860 --> 00:48:50.860
Even to today.

00:48:50.860 --> 00:48:51.860
So like,

00:48:51.860 --> 00:48:54.860
they're still adding crazy amounts

00:48:54.860 --> 00:48:56.860
of hash power to this thing.

00:48:56.860 --> 00:48:57.860
And,

00:48:57.860 --> 00:48:58.860
you know,

00:48:58.860 --> 00:49:00.860
the first ASIC came out,

00:49:00.860 --> 00:49:01.860
I don't know when that,

00:49:01.860 --> 00:49:03.860
do you remember when that was?

00:49:04.860 --> 00:49:05.860
It's got to be like,

00:49:05.860 --> 00:49:07.860
it's got to be like 13 or 14,

00:49:07.860 --> 00:49:08.860
something like that.

00:49:08.860 --> 00:49:09.860
Yeah,

00:49:09.860 --> 00:49:10.860
it was early on.

00:49:10.860 --> 00:49:11.860
I think it was 2013.

00:49:11.860 --> 00:49:12.860
Yeah,

00:49:12.860 --> 00:49:13.860
okay.

00:49:13.860 --> 00:49:14.860
First ASIC comes out,

00:49:14.860 --> 00:49:15.860
right?

00:49:15.860 --> 00:49:16.860
2013.

00:49:17.179 --> 00:49:18.179
Total hash rate,

00:49:18.179 --> 00:49:19.179
and these,

00:49:19.179 --> 00:49:21.179
these numbers are going to be meaningless

00:49:21.179 --> 00:49:23.179
to anybody who doesn't know

00:49:23.179 --> 00:49:24.179
what the F they mean,

00:49:24.179 --> 00:49:26.179
but I'm not going to try and explain it either.

00:49:27.179 --> 00:49:30.179
Let's say total hash rate was 10 terahashes

00:49:30.179 --> 00:49:32.179
before they came out.

00:49:33.179 --> 00:49:35.179
In short order,

00:49:35.179 --> 00:49:37.179
it went to a thousand,

00:49:37.179 --> 00:49:39.179
then a hundred thousand,

00:49:39.179 --> 00:49:40.179
then

00:49:41.179 --> 00:49:43.179
by the peak in 2017,

00:49:43.179 --> 00:49:46.179
it was at 10 million.

00:49:47.179 --> 00:49:49.179
And today,

00:49:49.179 --> 00:49:51.179
it's just crossing over a billion,

00:49:51.179 --> 00:49:52.179
right?

00:49:52.179 --> 00:49:54.179
We went from

00:49:54.179 --> 00:49:56.179
a thousand

00:49:56.179 --> 00:49:58.179
to a billion.

00:49:59.179 --> 00:50:00.179
Like,

00:50:00.179 --> 00:50:02.179
that is a lot of order of magnitudes.

00:50:02.179 --> 00:50:03.179
And you,

00:50:03.179 --> 00:50:05.179
nobody can process orders of magnitude.

00:50:05.179 --> 00:50:07.179
Jumping from one to ten

00:50:07.179 --> 00:50:08.179
is an order of magnitude.

00:50:08.179 --> 00:50:09.179
Jumping from one to a hundred,

00:50:09.179 --> 00:50:10.179
that's two orders of magnitude.

00:50:10.179 --> 00:50:11.179
You really,

00:50:11.179 --> 00:50:12.179
you're,

00:50:12.179 --> 00:50:14.179
the human mind isn't set up to,

00:50:14.179 --> 00:50:15.179
to process like that,

00:50:15.179 --> 00:50:16.179
right?

00:50:16.500 --> 00:50:17.500
You really,

00:50:17.500 --> 00:50:19.500
actually have to see the difference between one

00:50:19.500 --> 00:50:20.500
and a thousand.

00:50:20.500 --> 00:50:21.500
You can't just look at the numbers.

00:50:21.500 --> 00:50:22.500
The difference between

00:50:22.500 --> 00:50:24.500
one and a billion,

00:50:24.500 --> 00:50:25.500
like actual,

00:50:25.500 --> 00:50:26.500
like here's one item

00:50:26.500 --> 00:50:27.500
and here's a billion items,

00:50:27.500 --> 00:50:28.500
it's incomprehensibly large.

00:50:28.500 --> 00:50:29.500
It's crazy.

00:50:31.500 --> 00:50:32.500
Yeah,

00:50:32.500 --> 00:50:33.500
it's crazy to think also,

00:50:33.500 --> 00:50:35.500
you don't even know where

00:50:35.500 --> 00:50:36.500
these miners are

00:50:36.500 --> 00:50:38.500
or these mining facilities are.

00:50:38.500 --> 00:50:40.500
You don't know what countries that they're in.

00:50:40.500 --> 00:50:42.500
And the only thing I could even compare it to

00:50:42.500 --> 00:50:43.500
is like,

00:50:43.500 --> 00:50:44.500
and I don't even understand how this works,

00:50:44.500 --> 00:50:45.500
but something like Visa.

00:50:45.820 --> 00:50:46.820
They need their own,

00:50:46.820 --> 00:50:47.820
you know,

00:50:47.820 --> 00:50:48.820
towers full of servers

00:50:48.820 --> 00:50:50.820
to run that thing.

00:50:51.820 --> 00:50:52.820
But that's one company

00:50:52.820 --> 00:50:53.820
that controls it all.

00:50:54.820 --> 00:50:55.820
Bitcoin is just distributed

00:50:55.820 --> 00:50:56.820
all over the globe.

00:50:56.820 --> 00:50:57.820
All these people competing

00:50:57.820 --> 00:50:58.820
against each other

00:50:58.820 --> 00:51:00.820
and we don't know who they are

00:51:00.820 --> 00:51:01.820
and it doesn't matter.

00:51:01.820 --> 00:51:03.820
We don't have to know who they are.

00:51:03.820 --> 00:51:05.820
And you could have an entire country

00:51:05.820 --> 00:51:06.820
ban Bitcoin tomorrow

00:51:06.820 --> 00:51:07.820
and shut down

00:51:07.820 --> 00:51:08.820
and it completely,

00:51:08.820 --> 00:51:10.820
it doesn't affect the market at all

00:51:10.820 --> 00:51:11.820
because it is decentralized

00:51:11.820 --> 00:51:12.820
and distributed

00:51:13.820 --> 00:51:14.820
so,

00:51:15.139 --> 00:51:16.139
so thoroughly

00:51:16.139 --> 00:51:18.139
that none of that affects it anymore.

00:51:18.139 --> 00:51:20.139
There's just such a beauty to that.

00:51:21.139 --> 00:51:22.139
I don't even know what to relate it to.

00:51:22.139 --> 00:51:23.139
Like,

00:51:23.139 --> 00:51:24.139
what in our lifetime

00:51:24.139 --> 00:51:25.139
can we even relate it to?

00:51:25.139 --> 00:51:26.139
It's,

00:51:27.139 --> 00:51:28.139
it's new.

00:51:28.139 --> 00:51:29.139
I think,

00:51:29.139 --> 00:51:30.139
well,

00:51:30.139 --> 00:51:31.139
I think the thing you can relate it to

00:51:31.139 --> 00:51:32.139
is ideas, right?

00:51:32.139 --> 00:51:33.139
And I think

00:51:33.139 --> 00:51:34.139
a perfect example

00:51:34.139 --> 00:51:35.139
would be Tiananmen Square,

00:51:35.139 --> 00:51:36.139
right?

00:51:36.139 --> 00:51:37.139
When Tiananmen Square happened,

00:51:37.139 --> 00:51:38.139
the Chinese,

00:51:38.139 --> 00:51:39.139
the CCP

00:51:39.139 --> 00:51:40.139
squashed all images

00:51:40.139 --> 00:51:41.139
and everything of it

00:51:41.139 --> 00:51:42.139
and they basically

00:51:42.139 --> 00:51:43.139
tried to hide it.

00:51:43.139 --> 00:51:44.139
And it's the same thing with

00:51:44.459 --> 00:51:45.459
you know,

00:51:45.459 --> 00:51:46.459
the Cambodian genocide

00:51:46.459 --> 00:51:47.459
and all these different genocides

00:51:47.459 --> 00:51:48.459
that have happened

00:51:48.459 --> 00:51:49.459
all over the world

00:51:49.459 --> 00:51:50.459
is

00:51:50.459 --> 00:51:51.459
when you hide something,

00:51:51.459 --> 00:51:52.459
when you hide an idea,

00:51:52.459 --> 00:51:53.459
it makes the idea stickier.

00:51:54.459 --> 00:51:55.459
And so,

00:51:55.459 --> 00:51:56.459
I think actually the best thing

00:51:56.459 --> 00:51:57.459
for Bitcoin

00:51:57.459 --> 00:51:58.459
would be for more countries

00:51:58.459 --> 00:51:59.459
to ban it

00:51:59.459 --> 00:52:00.459
and outlaw it

00:52:00.459 --> 00:52:01.459
because it just,

00:52:01.459 --> 00:52:02.459
I mean,

00:52:02.459 --> 00:52:03.459
a perfect example

00:52:03.459 --> 00:52:04.459
is MetaPlanet.

00:52:04.459 --> 00:52:05.459
MetaPlanet

00:52:05.459 --> 00:52:06.459
is doing so well

00:52:06.459 --> 00:52:07.459
and kudos to

00:52:07.459 --> 00:52:08.459
Dylan Leclerc

00:52:08.459 --> 00:52:09.459
and that team over there

00:52:09.459 --> 00:52:10.459
because

00:52:10.459 --> 00:52:12.459
Bitcoin has a 55% tax

00:52:12.459 --> 00:52:13.459
in Japan

00:52:13.780 --> 00:52:14.780
but you can buy

00:52:14.780 --> 00:52:15.780
MetaPlanet

00:52:15.780 --> 00:52:16.780
which is a stock

00:52:16.780 --> 00:52:17.780
that is putting

00:52:17.780 --> 00:52:18.780
Bitcoin

00:52:18.780 --> 00:52:19.780
on their books

00:52:19.780 --> 00:52:20.780
at a clip

00:52:20.780 --> 00:52:21.780
that nobody else

00:52:21.780 --> 00:52:22.780
can touch

00:52:22.780 --> 00:52:23.780
in Japan

00:52:23.780 --> 00:52:24.780
that

00:52:24.780 --> 00:52:25.780
it's just creating

00:52:25.780 --> 00:52:26.780
an asymmetric

00:52:26.780 --> 00:52:27.780
trade

00:52:27.780 --> 00:52:28.780
because

00:52:28.780 --> 00:52:29.780
people want

00:52:29.780 --> 00:52:30.780
to,

00:52:30.780 --> 00:52:31.780
you know,

00:52:31.780 --> 00:52:32.780
only spend 20%

00:52:32.780 --> 00:52:33.780
versus 55%

00:52:33.780 --> 00:52:34.780
because they're stifling

00:52:34.780 --> 00:52:35.780
this idea,

00:52:35.780 --> 00:52:36.780
they're stifling

00:52:36.780 --> 00:52:37.780
the innovation.

00:52:37.780 --> 00:52:38.780
And so,

00:52:38.780 --> 00:52:39.780
you know,

00:52:39.780 --> 00:52:40.780
I think

00:52:40.780 --> 00:52:41.780
when people try

00:52:41.780 --> 00:52:42.780
to put a lid

00:52:43.100 --> 00:52:44.100
on it,

00:52:44.100 --> 00:52:45.100
you know,

00:52:45.100 --> 00:52:46.100
I'm actually excited

00:52:46.100 --> 00:52:47.100
for more people

00:52:47.100 --> 00:52:48.100
to be hostile

00:52:48.100 --> 00:52:49.100
to Bitcoin

00:52:49.100 --> 00:52:50.100
because it's just

00:52:50.100 --> 00:52:51.100
good for Bitcoin.

00:52:51.100 --> 00:52:52.100
Yeah,

00:52:52.100 --> 00:52:53.100
I agree on the

00:52:53.100 --> 00:52:54.100
Streisand effect.

00:52:54.100 --> 00:52:55.100
That's exactly

00:52:55.100 --> 00:52:56.100
what it is.

00:52:56.100 --> 00:52:57.100
Yeah,

00:52:57.100 --> 00:52:58.100
the more people

00:52:58.100 --> 00:52:59.100
hate it,

00:52:59.100 --> 00:53:00.100
the more people

00:53:00.100 --> 00:53:01.100
want to figure out

00:53:01.100 --> 00:53:02.100
what it is.

00:53:02.100 --> 00:53:03.100
Yep.

00:53:03.100 --> 00:53:04.100
Yeah,

00:53:04.100 --> 00:53:05.100
guys,

00:53:05.100 --> 00:53:06.100
I think that

00:53:06.100 --> 00:53:07.100
takes us through

00:53:07.100 --> 00:53:08.100
the stories

00:53:08.100 --> 00:53:09.100
of times past.

00:53:09.100 --> 00:53:10.100
Anton,

00:53:10.100 --> 00:53:11.100
is there any

00:53:11.100 --> 00:53:12.100
other final words

00:53:12.419 --> 00:53:13.419
you got?

00:53:13.419 --> 00:53:14.419
I'm just,

00:53:14.419 --> 00:53:15.419
I'm getting sunburned

00:53:15.419 --> 00:53:16.419
so bad

00:53:16.419 --> 00:53:17.419
that my brain

00:53:17.419 --> 00:53:18.419
is getting roasted

00:53:18.419 --> 00:53:19.419
right now.

00:53:19.419 --> 00:53:20.419
But,

00:53:20.419 --> 00:53:21.419
this was a fun one.

00:53:21.419 --> 00:53:22.419
It's fun,

00:53:22.419 --> 00:53:23.419
especially,

00:53:23.419 --> 00:53:24.419
it's a Friday

00:53:24.419 --> 00:53:25.419
and it's a little

00:53:25.419 --> 00:53:26.419
freewheeling,

00:53:26.419 --> 00:53:27.419
just telling some stories.

00:53:27.419 --> 00:53:28.419
So,

00:53:28.419 --> 00:53:29.419
yeah,

00:53:29.419 --> 00:53:30.419
don't be afraid.

00:53:30.419 --> 00:53:31.419
Don't be afraid

00:53:31.419 --> 00:53:32.419
to buy Bitcoin

00:53:32.419 --> 00:53:33.419
at the all-time high.

00:53:33.419 --> 00:53:34.419
It's always a good time.

00:53:34.419 --> 00:53:35.419
It's a great time.

00:53:35.419 --> 00:53:36.419
Because it's just

00:53:36.419 --> 00:53:37.419
going to be cheaper

00:53:37.419 --> 00:53:38.419
and cheaper

00:53:38.419 --> 00:53:39.419
and cheaper after that,

00:53:39.419 --> 00:53:40.419
you know?

00:53:40.419 --> 00:53:41.419
Right.

00:53:41.739 --> 00:53:42.739
JD,

00:53:42.739 --> 00:53:43.739
last thoughts.

00:53:45.739 --> 00:53:46.739
You

00:53:46.739 --> 00:53:47.739
understand

00:53:47.739 --> 00:53:48.739
Bitcoin

00:53:48.739 --> 00:53:49.739
at the price

00:53:49.739 --> 00:53:50.739
you deserve.

00:53:52.739 --> 00:53:53.739
Because

00:53:53.739 --> 00:53:54.739
everybody says you get

00:53:54.739 --> 00:53:55.739
Bitcoin,

00:53:55.739 --> 00:53:56.739
but I want to change

00:53:56.739 --> 00:53:57.739
the word get

00:53:57.739 --> 00:53:58.739
to understand.

00:53:58.739 --> 00:53:59.739
Because I don't think

00:53:59.739 --> 00:54:00.739
you can have Bitcoin,

00:54:00.739 --> 00:54:01.739
but until you

00:54:01.739 --> 00:54:02.739
understand Bitcoin,

00:54:02.739 --> 00:54:03.739
you actually don't

00:54:03.739 --> 00:54:04.739
have Bitcoin.

00:54:04.739 --> 00:54:05.739
If you have

00:54:05.739 --> 00:54:06.739
Bitcoin,

00:54:06.739 --> 00:54:07.739
but you don't

00:54:07.739 --> 00:54:08.739
really understand it,

00:54:08.739 --> 00:54:09.739
you have an asset.

00:54:09.739 --> 00:54:10.739
You don't have Bitcoin.

00:54:11.060 --> 00:54:12.060
You have a stock.

00:54:13.060 --> 00:54:14.060
And so I think

00:54:14.060 --> 00:54:15.060
you understand Bitcoin

00:54:15.060 --> 00:54:16.060
at the price you deserve.

00:54:16.060 --> 00:54:17.060
And that price

00:54:17.060 --> 00:54:18.060
is whatever price

00:54:18.060 --> 00:54:19.060
you decide to dive in

00:54:19.060 --> 00:54:20.060
and actually learn about it.

00:54:21.060 --> 00:54:22.060
Yeah.

00:54:22.060 --> 00:54:23.060
I think for me,

00:54:25.060 --> 00:54:26.060
final word is just

00:54:26.060 --> 00:54:27.060
don't underestimate Bitcoin.

00:54:28.060 --> 00:54:29.060
It is so much bigger

00:54:29.060 --> 00:54:30.060
and so much more powerful

00:54:30.060 --> 00:54:31.060
than your

00:54:31.060 --> 00:54:32.060
preconceived notions

00:54:32.060 --> 00:54:33.060
about it.

00:54:33.060 --> 00:54:34.060
Even my own.

00:54:34.060 --> 00:54:35.060
It's just,

00:54:35.060 --> 00:54:36.060
it's crazy.

00:54:36.060 --> 00:54:37.060
Absolute bonkers.

00:54:38.060 --> 00:54:39.060
All right.

00:54:39.060 --> 00:54:40.060
With that,

00:54:40.379 --> 00:54:41.379
out of here, guys.

00:54:42.379 --> 00:54:43.379
Peace.

00:54:43.379 --> 00:54:44.379
Have a good one.

00:54:44.379 --> 00:54:45.379
Drive safe, JD.

00:55:10.060 --> 00:55:11.379
Bye.