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Speaker 1: The key to multiplying your wealth faster with bitcoin isn't

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Speaker 1: about buying the next mean coin.

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Speaker 2: Or trying to out trade the market.

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Speaker 1: It's about understanding a few simple lessons, the real cheat

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Speaker 1: codes I had to learn the hard way. Now today

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Speaker 1: I'm going to share with you fifteen lessons I wish

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Speaker 1: I knew sooner, and how you can use them to

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Speaker 1: play the game smarter, starting with lesson number one, the

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Speaker 1: paradigm shift. So the paradigm shift is that bitcoin isn't

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Speaker 1: a stock. It's not like another Wall Street toy.

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Speaker 2: It's a new monetary system. Now.

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Speaker 1: The reason why that distinction is so big and so

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Speaker 1: powerful is because when you think of it just like

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Speaker 1: a stock, you think in normal terms of like allocation

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Speaker 1: sizes and buying low and selling high, and you completely

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Speaker 1: miss out on the entire shift that's happening and how

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Speaker 1: big this is going to be, and that causes you

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Speaker 1: to take small positions sell out.

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Speaker 2: With little bits of profit.

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Speaker 1: I've heard countless stories of people who bought it one

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Speaker 1: thousand dollars and sold it ten thousand dollars was the

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Speaker 1: best trade of their life, right, but they missed out

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Speaker 1: as it went to thirty forty fifty and one hundred

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Speaker 1: thousand dollars. So you need to understand really what's at

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Speaker 1: stake here. So the action step to take here is

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Speaker 1: reread the Bitcoin white paper, Understand what the Bitcoin white

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Speaker 1: Paper says, and list three ways that bitcoin changes incentives

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Speaker 1: versus feed. If you can think about that, you'll start

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Speaker 1: to understand how big this is. Now less than number

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Speaker 1: two I wish I would have known sooner is that

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Speaker 1: the early mover advantage is real. You see, Bitcoin rewards

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Speaker 1: early conviction, not late perfection. So when I first heard

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Speaker 1: about bitcoin, it was like twenty thirteen, and I could

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Speaker 1: have got in for a really, really really low entry price,

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Speaker 1: but instead I wasn't really sure what it was.

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Speaker 2: I didn't really pay attention to it.

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Speaker 1: I thought it was just some new scam coin or

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Speaker 1: whatever it was going to be, and I waited until

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Speaker 1: twenty fifteen to get in. Now, twenty fifteen was still

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Speaker 1: still great entry. It was around three hundred dollars at

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Speaker 1: a time, but that cost me about a twenty x

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Speaker 1: move because I didn't move sooner. So I understand some

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Speaker 1: people are skeptical. I understand some people don't have the conviction.

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Speaker 1: But what I would say, is at this point most

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Speaker 1: of the reasons why you wouldn't have a conviction or

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Speaker 1: be skeptical or sort of gone.

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Speaker 2: But maybe you haven't done the work.

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Speaker 1: So the action step would be simple, buy a starter

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Speaker 1: position today for fifty dollars or one hundred dollars, because

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Speaker 1: that fifty dollars, that one hundred dollars, it's not a

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Speaker 1: lot of risk. But once you put a little bit

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Speaker 1: of money into it, it'll change your entire mindset and

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Speaker 1: allow you to start seeing it differently. Now less than

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Speaker 1: number three that I wish I would.

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Speaker 2: Have learned back then that I know now is what

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Speaker 2: I call the core stack rule.

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Speaker 1: And what do I mean by that sort of thinking

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Speaker 1: back to the first one I'm thinking of like a stock,

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Speaker 1: we want to decide.

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Speaker 2: How much do want to allocate it to it?

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Speaker 1: Now, if you watch my continent at oh, you know

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Speaker 1: that I talk about buying bitcoin.

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Speaker 2: And never selling your bitcoin.

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Speaker 1: Now, some people still think about it as in like, well,

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Speaker 1: if I could buy it here and sell it here,

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Speaker 1: if I could buy at the bottom of the cycle

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Speaker 1: sell at the top of the cycle, And so what

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Speaker 1: I would do is at least define what your core

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Speaker 1: stack is, so I have some bitcoin that I'm never

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Speaker 1: going to sell, and I have some that I would sell.

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Speaker 1: So for example, I think that bitcoin we'll hit a

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Speaker 1: million dollars by twenty thirty.

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Speaker 2: That's a ten x from here.

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Speaker 1: So what you could do is say, well, what I'd

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Speaker 1: like to do is have ten bitcoin that never gets

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Speaker 1: sold and go to my kids and my grandkids and

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Speaker 1: my great gang kids.

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Speaker 2: But I'd also like to sell someone make a profit.

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Speaker 1: So maybe I'll buy twenty bitcoin today, ten of which

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Speaker 1: i'll sell at twenty thirty and that'll be hit a

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Speaker 1: million dollars each ten million dollars, and the other ten

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Speaker 1: I'll stay forever, or I'm going to hold these ten,

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Speaker 1: I'll try these dinner. Whatever you gonna do, but define

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Speaker 1: that stack and know how much you're going to keep forever.

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Speaker 1: Less than number four is understand the adoption curve lens.

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Speaker 1: And this is what I talk about quite often, and

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Speaker 1: I think it catches most people off guard. And that

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Speaker 1: is when you understand technology, specifically technology adoption curves. They

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Speaker 1: follow something called an S curve, and when you look

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Speaker 1: at the S curve, it basically tells us how long

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Speaker 1: it'll take for a new technology to reach adoption, and

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Speaker 1: my understanding how long it's supposed to take and with

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Speaker 1: the stages that it's going to go through allows us

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Speaker 1: to be more patient. You see, most people that come

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Speaker 1: into bitcoin are way too impatient. They expect way too

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Speaker 1: much too soon. But if you understand the S curve,

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Speaker 1: then you know how long you're waiting for now. The

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Speaker 1: way an S curve works is that a time it

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Speaker 1: takes to go from zero to ten percent adoption, is

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Speaker 1: it the same time it takes to go from ten

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Speaker 1: percent to ninety percent adoption. And we're in the up

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Speaker 1: part of the S curve right now. Things are taking off,

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Speaker 1: but we're still early. But if you can understand these

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Speaker 1: historical adoption curves, and you can understand the process of

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Speaker 1: these curves, then you'll be able to wait longer.

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Speaker 2: What I like to say is that it's much easier

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Speaker 2: to wait when you know how long you have to wait.

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Speaker 1: Four and if you can wait just five more years,

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Speaker 1: you'll be rewarded now Lessan number five is the having

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Speaker 1: cycle playbook. Now most of you probably know at this

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Speaker 1: point bitcoin has these four year having cycles. Every four years,

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Speaker 1: the new supply, the inflation of bitcoin gets cut in half.

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Speaker 1: Now elementary one on one is that if the demand

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Speaker 1: stays the same and the supply cuts in half, the

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Speaker 1: price goes up.

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Speaker 2: What happens if the supply gets.

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Speaker 1: Cut in half and the demand goes up, it goes

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Speaker 1: up even faster, and it creates these supply shocks, if

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Speaker 1: you will, and it creates this boom and bust markets.

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Speaker 1: And so you can see over the last couple of

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Speaker 1: having cycles that we have, Bitcoin goes up, makes a

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Speaker 1: new all time high, and crashes back down. Now, without

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Speaker 1: understanding these having cycles properly and understand where they work

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Speaker 1: in terms of sequence, it's easy to get caught off

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Speaker 1: guard myself.

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Speaker 2: I've gotten caught off card many times.

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Speaker 1: I saw, like I said, I started buying twenty fifteen

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Speaker 1: to three hundred bucks by the end of twenty seventeen.

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Speaker 1: By December twenty seventeen, it was twenty thousand dollars. Then

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Speaker 1: it dropped all the way down. And I remember back

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Speaker 1: then the first one had gone through, thinking why didn't

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Speaker 1: I sell? What did I do wrong? This will never

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Speaker 1: come back. I missed my chance. And then it came

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Speaker 1: back again. And then the having cycle happened and it

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Speaker 1: crashed again, and I thought, man will it ever come

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Speaker 1: back this time, And because I didn't understand that, and

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Speaker 1: because I didn't have conviction of it coming back, I

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Speaker 1: didn't benefit as much as I could have. I could

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Speaker 1: have been adding aggressively to those bottom parts of the

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Speaker 1: cycle when it was at its lows, but I didn't.

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Speaker 2: Less the number six is the QUI principle.

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Speaker 1: Now, liquidity principle is what I talk about quite often

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Speaker 1: on this channel, which is what drives all asset prices.

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Speaker 2: The global liquidity.

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Speaker 1: Liquidy is what drives asset prices, including bitcoin, and we

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Speaker 1: can take a look at it and we can see

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Speaker 1: that it typically happens at about nine times sensitivity ratio,

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Speaker 1: and it happens on about a ten to twelve week lag.

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Speaker 1: So what that means is that if we watch liquidity,

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Speaker 1: not the news, not the tariffs, not the trade wars,

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Speaker 1: not whatever the FED is going to do, but we

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Speaker 1: just watch liquidity, we have a head start on what's

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Speaker 1: going to happen in asset prices. So, for example, I

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Speaker 1: just made a video, maybe we'll link to it right

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Speaker 1: here or put it in the shows down below, about

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Speaker 1: how liquidy has been acting in the markets for the

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Speaker 1: last two quarters and why prices are doing what they're

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Speaker 1: doing and why bitcoin is taking off again right now.

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Speaker 1: And if you understand liquidity principle, then you can get ahead.

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Speaker 1: How do you do that, Well, there's three people that

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Speaker 1: I follow that make a global liquidity chart.

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Speaker 2: I think it's pretty good.

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Speaker 1: Number one Michael Howell, number two, the Bitcoin layer, number

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Speaker 1: three real vision are all pretty good. Or you can

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Speaker 1: just watch the FED balance sheet. You could watch Global

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Speaker 1: m two and there are low fidelity ways to do it,

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Speaker 1: blunt ways to do it, but they still work pretty good.

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Speaker 1: Lesson number seven is called the psychology framework. Now, the

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Speaker 1: psychology framework is more about market sentiment than it is fundamentals.

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Speaker 1: You might have seen the Wall Street trader psychology where

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Speaker 1: it kind of goes up and crashes down and then

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Speaker 1: there's like the despair and people think I'll never come

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Speaker 1: back to disbelief, and then it takes off again.

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Speaker 2: And it's all about sentiment.

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Speaker 1: And when you understand that, you can start to understand

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Speaker 1: where sentiment's at and where we might be in the

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Speaker 1: market cycle. So at the bottom you have something called capitulation,

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Speaker 1: where everybody's done, they're tired, they're mad, they just on'm

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Speaker 1: out and they sell. When you see these things in

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Speaker 1: the market, like peak fear, that might be time.

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Speaker 2: To start buying. I know it's really hard.

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Speaker 1: And when you see peak euphoria, it might be time

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Speaker 1: to What I do is don't buy as much. I

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Speaker 1: don't sell at the top. So what you want to

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Speaker 1: do is you want to study behavioral finance. You want

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Speaker 1: to understand herd mentality, you want to understand what FOMO is,

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Speaker 1: and you want to start to monitor the markets for

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Speaker 1: this so you know when you might want to add

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Speaker 1: less to your stack or you want to add more aggressively.

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Speaker 1: Now less than number eight is the community conviction rule.

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Speaker 1: Now the conviction rule is probably the number one thing that.

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Speaker 2: I wish I would have had sooner.

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Speaker 1: I wish it would have had more conviction because you hear,

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Speaker 1: oh man, you bought back one in twenty fifteen, it

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Speaker 1: was three hundred bucks.

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Speaker 2: You're so lucky, you must have made so much money.

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Speaker 1: Well, not really, because back in twenty fifteen it was

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Speaker 1: so risky. We didn't even know what it was. To

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Speaker 1: put like one thousand dollars into it back then seems

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Speaker 1: so risky, whereas today you could move millions or billions

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Speaker 1: into it, but you couldn't do it.

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Speaker 2: Back then, we didn't have the conviction.

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Speaker 1: Now, all of these lessons that I'm giving you now

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Speaker 1: and the ones that I'm going to contende to give

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Speaker 1: you will help you build the conviction.

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Speaker 2: But you can't borrow conviction. You can only earn it.

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Speaker 2: You can only live it.

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Speaker 1: And the fastest way to accelerate that conviction and your

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Speaker 1: belief and resilience is to be around other people that

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Speaker 1: you can learn from and share from and are back

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Speaker 1: and forth with.

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Speaker 2: And one of the best ways to do that is

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Speaker 2: by going to an event.

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Speaker 1: So you've seen me speaking at conferences all the time,

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Speaker 1: and the greatest ROI for me speaking at these conferences

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Speaker 1: is to be around these other people and share these ideas, relationships,

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Speaker 1: set of relationships that I've built, friends that have friendships,

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Speaker 1: that have developed, business opportunities that have popped up, And

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Speaker 1: so I would recommend attend a bitcoin meetup or a conference.

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Speaker 1: You can find bitcoin meetups all over the country. I'm

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Speaker 1: sure they're happening in your local area. A small business owner,

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Speaker 1: where just works comes in. They're the all in one

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Speaker 1: Their tools that help with benefits like payroll and HR

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Speaker 1: top talent internationally, internew markets, quickly scale international operations without

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Speaker 1: the workload, and for every how do I do it?

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Speaker 2: Question, you can reach out to.

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Speaker 1: Their expert staff from sole proprietor or a team of

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Speaker 1: to take care of payroll, benefits, compliance and more. Again,

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Speaker 1: that's Just Works dot Com slash podcast. Now less than

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Speaker 1: Number nine is the time preference shift. Now, time preference

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Speaker 1: is something that we talk about all the time in bitcoin,

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Speaker 1: and it takes you from a high time preference to

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Speaker 1: a low time preference. Basically, it's delayed gratification, instant gratification

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Speaker 1: or delayed gratification, and Bitcoin lowers your time preference and

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Speaker 1: what that does improves your decision making because unfortunately, nothing

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Speaker 1: good in life comes in short term thinking. If you

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Speaker 1: I used to have this friend and always like a

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Speaker 1: month before summer, he's like all right, I got thirty

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Speaker 1: days to get in shape. It's like thirty days to

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Speaker 1: get in shape, Like you should have started that a

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Speaker 1: year ago, right, We need that time, we have to

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Speaker 1: think about that. And that's what bitcoin does for us.

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Speaker 1: It helps us to realize is that these short term

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Speaker 1: gains or short term movements aren't what's important. We start

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Speaker 1: to think longer, and we start to think longer about

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Speaker 1: our money. We start to think longer about our businesses,

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Speaker 1: and our health decisions and our relationship decisions. And so

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Speaker 1: the lesson is to shift your time preference, start to

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Speaker 1: think in things of five year cycles. I still get

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Speaker 1: asked all the time, mark where will bitcoin be next month?

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Speaker 1: It's like, who cares about next month? Someone asked me

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Speaker 1: last night, you know, where will it be over the

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Speaker 1: next six months? I'm like, who cares about six months?

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Speaker 1: Where will be in five years? That's what I care about?

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Speaker 1: And so shift your time preference. So an action step

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Speaker 1: easy to apply this is basically to journal monthly on

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Speaker 1: how bitcoin is changing your thinking, how you're starting to

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Speaker 1: realize your health, the relationships are starting to be affected

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Speaker 1: by this.

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Speaker 2: So you can start to build it.

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Speaker 1: Out in our life less than number ten is the

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Speaker 1: self custody rule. Now, in the bigcoin community, we have

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Speaker 1: a saying that says that not your key's not your coins.

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Speaker 1: And I wish I would have learned this one sooner.

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Speaker 1: And the reason why is because I've lost a lot

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Speaker 1: of bitcoin by not custody on my own. Well, I've

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Speaker 1: actually lost it from not custody on my own and

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Speaker 1: from custody on my own.

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Speaker 2: So let me break that down.

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Speaker 1: Number one, not custody on your own means that you're

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Speaker 1: leaving it in someone else's custody. So, for example, you're

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Speaker 1: leaving it on exchange, and that happened to me. I

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Speaker 1: left it on an exchange. I left it on an

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Speaker 1: exchange called bit tricks. I'm just going to call them

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Speaker 1: out right here. I've talked about it before, and somebody

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Speaker 1: hacked the exchange and my bitcoin got taken, and we

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Speaker 1: went to court over it and found out that they

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Speaker 1: weren't liable even though they recognized in discovery that they

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Speaker 1: had a problem. They didn't have the proper security measures

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Speaker 1: in place. But because I had checked the box that

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Speaker 1: says I hold them, I don't hold them liable for

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Speaker 1: anything that happens to my bitcoin. I was responsible, so

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Speaker 1: I trusted them. They made certain promises of the security,

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Speaker 1: they didn't follow through.

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Speaker 2: They got hacked. I lost my bitcoin. The other step

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Speaker 2: was I was using it.

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Speaker 1: I had a wallet on my phone and I was

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Speaker 1: putting some bitcoin on my phone, and I was staying

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Speaker 1: at the Airbnb in Mexico. And one day I had

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Speaker 1: the bitcoin in my wallet and the next day the

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Speaker 1: bitcoin wasn't in my life wallet. So the action steps

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Speaker 1: are here. Number one, take custody of it yourself. But

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Speaker 1: number two, do it in a hardware wallet. Leave get

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Speaker 1: it off the exchanges, and don't put it into a

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Speaker 1: software wallet that you have on your phone or on

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Speaker 1: your computer. Put it into a heart hotware wallet. Don't

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Speaker 1: make the same mistake that I've made lesson. Number eleven

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Speaker 1: is what I call the spend regret rule. Now that

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Speaker 1: means if you spend your bitcoin.

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Speaker 2: You'll probably regret it later.

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Speaker 1: Early on in the bitcoin days, like I said, it

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Speaker 1: was three hundred bucks, it was five hundred bucks, it

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Speaker 1: was a thousand bucks and two thousand bucks. And I

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Speaker 1: was kind of just throwing these things around like chick lits. Man.

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Speaker 2: We were just dropped spending them all over the place.

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Speaker 1: You know, somebody would want to get paid in bitcoin, Sure,

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Speaker 1: why not some of my friends I'd want to get

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Speaker 1: into bitcoin, so I owed them some money, a couple

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Speaker 1: thousand bucks. Hey here, take a bitcoin kind of things

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Speaker 1: like that. But what I wasn't doing is I wasn't

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Speaker 1: going and replenishing those bitcoins.

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Speaker 2: So I regret that.

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Speaker 1: Now, if I can go back and get all of

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Speaker 1: that bitcoin that I was just throwing around instead of

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Speaker 1: just using fiat like I could have, and I had

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Speaker 1: that bitcoin today, it would be a massive amount. But

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Speaker 1: I don't can't go back and change that. But what

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Speaker 1: I could do is not make the same mistake. So

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Speaker 1: use fiat for your expenses and save in your bitcoin.

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Speaker 1: The rule is Gresham's law that good money drives out bad.

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Speaker 1: So we want to save in the good money, spend

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Speaker 1: the bad money. Don't spend your bitcoin for things that

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Speaker 1: you can spend fiat on. Less than number twelve is

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Speaker 1: the hold over trade rule. And what this means is

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Speaker 1: that holding, or as we say in the bitcoin space, hodling,

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Speaker 1: it beats trading for pretty much everyone, ninety five percent

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Speaker 1: of people. I know this because for a period of

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Speaker 1: time I wrote a cryptocurrency research news that we ran

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Speaker 1: a trading service, one of the biggest in the space,

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Speaker 1: and most people just lost their money. I've been around

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Speaker 1: this law, and it's to know that most people lose

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Speaker 1: their money. And so while you think you're trading mean

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Speaker 1: coins or whatever it is, and these DeFi protocols so

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Speaker 1: you can get more bitcoin, eventually, what you'll find out

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Speaker 1: is that just holding the bitcoin for the long.

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Speaker 2: Run would have done better.

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Speaker 1: If I can go back and get a doover back

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Speaker 1: to twenty fifteen, back to twenty sixteen, or twenty sixteen,

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Speaker 1: before twenty seventeen I started tree. If I could just

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Speaker 1: get all that bitcoin back and I could have just

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Speaker 1: had that today, my life would be way different. But

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Speaker 1: I can't, and I trade it most of it a way.

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Speaker 1: So the action step is hold. If you want to trade,

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Speaker 1: it's fun, maybe fun to speculate, fun to gamble, You

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Speaker 1: don't gamble all your money. Put ninety five percent into

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Speaker 1: your core stack and lock it away forever, and then

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Speaker 1: if you want take five percent, speculate with it.

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Speaker 2: Trade with it.

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Speaker 1: Less than thirteen is what I call the sound money principle. Now,

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Speaker 1: sound money principle thinking is.

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Speaker 2: What makes bitcoin inevitable.

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Speaker 1: It's what underlies all of this, because you see, solutions

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Speaker 1: are supposed to come to problems.

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Speaker 2: That's the way the world works. We have a problem,

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Speaker 2: we'll come with a solution.

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Speaker 1: So when you start thinking about it, well, what is

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Speaker 1: the biggest problem in the world. The bigger the problem

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Speaker 1: that we solve, the more value that's created. Well, the

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Speaker 1: biggest problem in the world is money, and the problems

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Speaker 1: with money. For example, central banks around the world continue

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Speaker 1: to print more money. For example, what we're seeing today

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Speaker 1: with Trump and tariffs and China is manipulation of currency.

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Speaker 1: And so what we need is a money that can't

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Speaker 1: be manipulate and can't be printed, a money that nobody

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Speaker 1: can control, nobody can conflate. And when you start to

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Speaker 1: think of things and that terms and realize that this

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Speaker 1: is actually solving the biggest problem in the world. And

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Speaker 1: you also realize why bitcoin is different than all of

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Speaker 1: cryptocurrency because of the sound money principle. Now, the greatest action,

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Speaker 1: the action stuff that you can take in this would

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Speaker 1: be read the Bitcoin standard, learn Austrian economics, learn the

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Speaker 1: history of money.

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Speaker 2: And I say the Bitcoin standard because it actually takes.

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Speaker 1: You from the history of money from feathers rocks and seashells,

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Speaker 1: all the way through the gold Standard and all.

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Speaker 2: The way through today.

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Speaker 1: It's a really great place to start your journey all

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Speaker 1: right now. Lesson number fourteen is the compliance playbook, and.

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Speaker 2: This one is one that you really need to be

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Speaker 2: careful for.

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Speaker 1: This is planning your taxes, planning compliance, and it's way

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Speaker 1: and do it way before it's too late. The RS

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Speaker 1: doesn't want to be messed around with. They're pretty serious

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Speaker 1: about this. And so a lot of people think that

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Speaker 1: they can buy and sell bitcoin, trade bitcoin and they

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Speaker 1: don't have to report it. But they're catching on to you,

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Speaker 1: so don't get caught in that. Couple things that you

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Speaker 1: can do about this. Number one, The easiest thing is

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Speaker 1: don't sell your bitcoin and don't trade your bitcoin.

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Speaker 2: That's just the easiest part.

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Speaker 1: I talk about it all the time. I don't plan

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Speaker 1: on selling my bitcoin. If I want some of the

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Speaker 1: equity out of it, I can take a loan against

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Speaker 1: it by borrowing against the bitcoin.

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Speaker 2: That is not a taxable event. I don't owe the

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Speaker 2: taxes on that.

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Speaker 1: I still own the bitcoin, but I can unlock the

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Speaker 1: equity tax free.

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Speaker 2: That's what I plan on doing. Otherwise, if you do

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Speaker 2: sell it.

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Speaker 1: Or you do trade it, make sure that you use

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Speaker 1: an exchange that allows you to get your reports, or

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Speaker 1: use some type of a software that can do that,

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Speaker 1: and make sure you get those reports and give it

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Speaker 1: to a CPA, an accountant that understands bitcoin and cryptocurrencies

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Speaker 1: so they can get.

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Speaker 2: Your compliance done properly.

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Speaker 1: You have to understand, like bitcoin doesn't just change your portfolio,

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Speaker 1: it changes who you have to become to keep it.

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Speaker 1: You know, a lot of times you hear people like, man,

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Speaker 1: you bought it at ten cents, but they probably wouldn't have.

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Speaker 2: It today because you have to change who you are

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Speaker 2: in order to keep it.

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Speaker 1: Now, these lessons they cost me any years of time

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Speaker 1: to get here, missed opportunities, expensive mistakes, but now you

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Speaker 1: have them. Bitcoin is the cheat code for building real

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Speaker 1: wealth and real freedom. And if you're wondering where bitcoin

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Speaker 1: could be by say twenty thirty, twenty forty, and twenty fifty,

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Speaker 1: that's exactly what we're diving into next in this video

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Speaker 1: right here.

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Speaker 2: Now, make sure you're subscribed.

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Speaker 1: Hit like if you've got value common below which lesson

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Speaker 1: hit you the hardest and I'll see you over the

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Speaker 1: next video