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Speaker 1: The coin Viewer, a podcast is a production of I

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Speaker 1: Hunt Radio. I think it was Charlie Munger and Warren

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Speaker 1: Buffett who said there's three ways to lose everything, ladies, liquor,

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Speaker 1: and leverage, and it makes a lot of sense. And

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Speaker 1: then lastly is take profits along the way. Sweet Jesus,

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Speaker 1: I mean, if you could just take a look and

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Speaker 1: just say to yourself, and we'll talk about this later,

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Speaker 1: as about people will always say you gotta diamond hands

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Speaker 1: everything and hold it forever, and you could, you could

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Speaker 1: hold everything. Maybe bitcoin becomes the new world reserve currency.

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Speaker 1: I'm not here to dispute that. I have no idea,

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Speaker 1: but maybe, just maybe that won't happen. And if those

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Speaker 1: things don't happen, maybe it's a good idea to take

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Speaker 1: profits along the way so when the bear market comes,

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Speaker 1: you have more powder on the sidelines to do the

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Speaker 1: things you really want to do. Buy crypto, buy real estate,

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Speaker 1: start a company, pay your bills for petez sakes, and

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Speaker 1: go from there. So those are the new rules. But

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Speaker 1: it all came from all the screw ups that I

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Speaker 1: did along the way. A guy, you were too kind,

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Speaker 1: Thanks for having me again. It's yeah, Rob, and I

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Speaker 1: have Rob and I have chatted on live streams before

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Speaker 1: and actually met in real life, which doesn't doesn't happen

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Speaker 1: all that often in the crypto space. But we we

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Speaker 1: met in real life when you when you very kindly

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Speaker 1: came and spoke at the Coin Bureau event in London,

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Speaker 1: which I think it's safe to say feels like a

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Speaker 1: lifetime ago. No, it was. It was the great time.

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Speaker 1: It was was end of April early May, somewhere around

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Speaker 1: there at twenty twenty one, and the market was just

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Speaker 1: ripping and everybody there was there was exuberance, everybody was happy.

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Speaker 1: And of course now here we are in October twenty

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Speaker 1: twenty two and people are miserable. But that's okay because

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Speaker 1: this is the time when millionaires are made. It's it's

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Speaker 1: time for all the tourists to leave and the real

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Speaker 1: people that want to stick around to make some real

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Speaker 1: wealth to just hang around because it's going to happen.

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Speaker 1: Absolutely absolutely, and yeah, this is This is one of

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Speaker 1: the main reasons I wanted to get you on Rob,

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Speaker 1: because I think your perspective on all of this, You've

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Speaker 1: got a very pragmatic outlook. You've got a no bs outlook.

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Speaker 1: It's all delivered with a big generous helping of text

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Speaker 1: and charm. So I thought, I thought, this is this

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Speaker 1: is all stuff that are our listeners need to hear.

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Speaker 1: So I thought, should we just should we just dive

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Speaker 1: on in and just kind of have a quick kind

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Speaker 1: of talk about the about the markets in general. Well,

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Speaker 1: in fact, no, look before we do that, Rob, can

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Speaker 1: you can you tell us a bit about yourself, how

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Speaker 1: you how you came to do what you do, your

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Speaker 1: your background, all that sort of stuff. Sure, and before

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Speaker 1: we start. I wish I wish it was later in

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Speaker 1: the day because like this kind of feels like two

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Speaker 1: guys talking in the pub about this, just talking shop.

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Speaker 1: I do love these ones. So my background is prior military.

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Speaker 1: I went in is there's a long time ago, because

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Speaker 1: I'm an old guy. I got grandkids now, and I

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Speaker 1: was what's called a ninety one bravo, which was back

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Speaker 1: in those days it was called a medic, so you

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Speaker 1: run around try to save people, real fun times, right,

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Speaker 1: And then I didn't like being in the field, so

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Speaker 1: they said, who wants to get out of the field.

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Speaker 1: I said, sure, I'll do that, and they I became

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Speaker 1: a ninety one whiskey m six, which is an LVM

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Speaker 1: or a nurse, and then I didn't really don't really

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Speaker 1: like that too much. Then I got out of the

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Speaker 1: military and I went into sales, medical device sales, and

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Speaker 1: I worked at a company called kCi, which is a

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Speaker 1: wound back company. People would get these these huge, massive

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Speaker 1: wounds or massive injuries or whatever else and we'd put

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Speaker 1: these essentially a medical grade sponge, close up the wound

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Speaker 1: and heal people. Was great. Then I got into management.

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Speaker 1: I went and worked for a couple of different home

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Speaker 1: health companies and just kind of trotted around the area

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Speaker 1: and health and healthcare. But then I realize one day,

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Speaker 1: I'm like, you know, if I keep trading my time

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Speaker 1: for money, I'm never gonna get ahead. It's just how

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Speaker 1: it goes. And I just started to dabble into a

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Speaker 1: little online education platform and I created this website helped

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Speaker 1: nursing students past their clinical exam, and that was the

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Speaker 1: first time I realized that I didn't have to trade

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Speaker 1: my time for money. People would come in there, they

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Speaker 1: could learn some things, and they could pay me a fee.

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Speaker 1: And then everything worked out. And then I got into

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Speaker 1: real estate with me and my wife, and that was

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Speaker 1: an even better advantage because with real estate, what's great

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Speaker 1: about that is that it's an appreciating asset. There's a

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Speaker 1: lot of things you can do with it. And this

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Speaker 1: is back in gosh, two thousand, ten eleven. Yeah, and

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Speaker 1: I don't know, I don't know if Airbnb was around,

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Speaker 1: but we did. We know, we did short term rentals,

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Speaker 1: we did long term rentals, and now we do a

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Speaker 1: lot more of the short term rentals. Well Airbnb with

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Speaker 1: houses here in Alpasso and Houston and Puerto Rico, condos

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Speaker 1: and apartments, and that was a pretty good one to

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Speaker 1: be into. So we did all that and then also

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Speaker 1: a nice little sports facility year for sand, volleyball, sand

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Speaker 1: soccer stuff. So a lot of different things that we do.

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Speaker 1: And Amazon business too, but that's that's pretty simple. But

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Speaker 1: a lot of these things are starting to run on autopilot.

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Speaker 1: And I remember in twenty seventeen, actually, no, let's take

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Speaker 1: it back in twenty twelve, the son came home and

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Speaker 1: he said, hey, I've got a great deal for you.

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Speaker 1: And the deal is there's this guy and he's selling

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Speaker 1: a hard drive with these things called bitcoins, and he's

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Speaker 1: gonna sell five hundred of those bitcoins for five hundred dollars,

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Speaker 1: and I said, Alan, what is a bitcoin? And you

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Speaker 1: know when you first explained what a bitcoin is? And

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Speaker 1: he's like, well, it's this thing and it's decentralized, and

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Speaker 1: I'm like that, I'm gonna stop it right now. Makes

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Speaker 1: no sense whatsoever. It's never gonna make it. It sounds

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Speaker 1: the dumbest thing I've ever heard in my life. And

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Speaker 1: of course, as time goes on, I just, you know,

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Speaker 1: missed out on a massive opportunity. And but I will

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Speaker 1: say this, and we'll get into this later, is that

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Speaker 1: I didn't understand what bitcoin was. So if I would

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Speaker 1: have bought it for five hundred dollars, two things would

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Speaker 1: have happened. I would have lost that hard drive, because

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Speaker 1: this is back in twenty twelve. Maybe it would have

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Speaker 1: I would have figured it out in thirteen when the

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Speaker 1: big bull run happened. But plus I would probably have

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Speaker 1: sold it when it doubled, because I don't want I

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Speaker 1: didn't understand it back then, so I don't think I

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Speaker 1: really missed out on the big opportunity. Fast forward later

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Speaker 1: twenty seventeen, all of a sudden we hear more about

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Speaker 1: crypto and the glassts. That's when everything blew up. This

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Speaker 1: was I got in after you did, guy, because you

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Speaker 1: got in way before I did twenty thirteen, twenty fourteen

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Speaker 1: that area. But when I got in twenty seventeen, ye,

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Speaker 1: this is a great opportunity, just like all the other businesses.

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Speaker 1: And I thought I was a genius as everything went up,

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Speaker 1: and I wrote it all the way up, and I

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Speaker 1: wrote it all the way down. I bought bitcoin at

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Speaker 1: thirty five hundred, five thousand, ten thousand, seventeen thousand, five hundred,

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Speaker 1: and then when a crash in January and February twenty eighteen,

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Speaker 1: I was back down to where I was. And at

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Speaker 1: that point I said to myself, I got two ashes.

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Speaker 1: I could take a huge loss and get the hell

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Speaker 1: out of here, or I can figure out some principles.

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Speaker 1: Maybe you stick around for a bit, maybe dollar cost average,

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Speaker 1: Maybe figure out that time in the market's greater than

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Speaker 1: timing the market, maybe understanding what the projects actually were

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Speaker 1: and how they could change the world. And just kind

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Speaker 1: of moved from there. And then from that point on,

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Speaker 1: I just dollar cost average, and I kept talking about it.

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Speaker 1: My friends and the family were like, don't tell us,

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Speaker 1: we don't care. So I'll go, okay, you don't care,

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Speaker 1: I'll start a YouTube channel and just talk about it there.

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Speaker 1: Because all the other businesses are just running on on

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Speaker 1: oili pilots. I'm as will do something. And now here

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Speaker 1: we are up to today talking to the great guy

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Speaker 1: from coin Bureau. How the mighty have fallen? It's uh mean,

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Speaker 1: listening to that, it's I mean, it's such a it's

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Speaker 1: such a great story you've got. It's it's also it's

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Speaker 1: it says so much about your character. You know, you're

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Speaker 1: you're you sound like a really kind of pragmatic guy,

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Speaker 1: that sort of guy who's kind of not afraid to

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Speaker 1: take a step back assess the situation kind of I

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Speaker 1: guess dispassionately and and think, hey, you know, what's what's

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Speaker 1: wrong with this picture? How can I fix this? Where

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Speaker 1: do I go next? You know, you strike me as

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Speaker 1: someone who's kind of constantly curious. Is that is that

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Speaker 1: fair to say? It's it's it's well, there's a couple

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Speaker 1: of things. First of all, there's curiosity, and the other

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Speaker 1: thing that I've learned along the way, especially starting these

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Speaker 1: different projects, is that I know that I'm going to fail.

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Speaker 1: I failed way more than I've actually succeeded. So when

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Speaker 1: I do these things, I step into it going I

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Speaker 1: know I'm gonna screw up. I know this is going

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Speaker 1: to be hardship. But it just like in the military,

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Speaker 1: if I just show up at the right uniform, things

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Speaker 1: are going to work out. I'll get promoted. Everything work,

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Speaker 1: And that's pretty much how it kind of comes down to.

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Speaker 1: I look at the market, I go, I'm gonna pick projects.

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Speaker 1: They are gonna lose and I know that, and I

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Speaker 1: think a lot of other investors know that too. They go, okay, well,

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Speaker 1: I know that if I invest into ten eight, seven,

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Speaker 1: eight nine, my bomb, But the one that really makes

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Speaker 1: it is the one that's gonna that's gonna pull my

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Speaker 1: a out of out of everything, and it's gonna be okay.

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Speaker 1: So if if I can understand that I'm not perfect

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Speaker 1: and I will fail, that, I think at the end

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Speaker 1: of the day, I'll be all right. And that's just

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Speaker 1: leads me to the curiosity what you were talking about.

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Speaker 1: If I'm not curious as to all my screw ups

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Speaker 1: and all my successes, and I can't just take a

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Speaker 1: step back and say what works and what doesn't, then

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Speaker 1: nothing will work. So I always say, like we have

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Speaker 1: to learn from mistakes and don't have to be your mistakes,

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Speaker 1: So hopefully people can learn from our mistakes and move

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Speaker 1: forward as better investors. Yeah, it's and I think that's

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Speaker 1: an attitude that's all too often kind of missing from

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Speaker 1: I think missing from the crypto space certainly. And I

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Speaker 1: guess kind of you know, the wider, the wider world

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Speaker 1: of investing, You know, it tends to be. It can

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Speaker 1: have such a kind of matcho feel to it sometimes,

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Speaker 1: you know, And and there's so much there's so much

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Speaker 1: hype gets built up, especially as you say, during during

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Speaker 1: bull markets when things are just going crazy and the

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Speaker 1: can the picture becomes so unclear, doesn't it? And it

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Speaker 1: looks like it looks like everyone's kind of making these

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Speaker 1: huge wins and making these huge gains, and no one

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Speaker 1: seems to be failing. And yet people are sitting there

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Speaker 1: at home and thinking, well, why am I? Why can't

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Speaker 1: I do all of this? Why can't I? And without

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Speaker 1: without really appreciating that. Yeah, people are failing all the time,

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Speaker 1: across the boards, at everything every day. But it's the

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Speaker 1: people who learn from those mistakes who and like you do, Rob,

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Speaker 1: kind of accept those failures and and move on. Oh,

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Speaker 1: let me tell you. I want to talk about failures.

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Speaker 1: So let's just let's just stick with it in the

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Speaker 1: crypto space itself. I remember so in twenty twenty, when

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Speaker 1: things are really really heating up. I remember I put

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Speaker 1: out a couple of price prediction videos. Well never do

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Speaker 1: those again, and I took a look out and I said,

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Speaker 1: you know, I think that bitcoin. I thought it was

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Speaker 1: a conservative number. I thought, I said, I think bitcoin

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Speaker 1: can make to one hunter k. How whereas that didn't

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Speaker 1: that didn't work out. But then I thought, well, maybe

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Speaker 1: it go'ld make to one hundred and fifty k. And

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Speaker 1: that was the most the conservative I'd always be one

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Speaker 1: hundred one hundred fifty k. And we didn't even touch that.

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Speaker 1: I mean we hit I think we topped out on

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Speaker 1: November fourteenth, and remember eleven somewhere around there, around sixty

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Speaker 1: nine K, and that was about it ethereum. I thought

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Speaker 1: could go up to you know, ten k. Of course

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Speaker 1: we only did half that, and then some other ones.

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Speaker 1: And then like when I take a look at and

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Speaker 1: I step back and go, look at all these these

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Speaker 1: these failures that I've done. But it taught me some

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Speaker 1: important lessons which is as much as you think you

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Speaker 1: know the market and where you think things are going,

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Speaker 1: you're usually mistaken. So it's important too. And well, I

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Speaker 1: think we're gonna talk about this in a bit, is

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Speaker 1: taking profits along the way so you don't pull the

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Speaker 1: same thing that I pulled, which was writing everything up

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Speaker 1: and writing everything back down into that in twenty eighteen.

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Speaker 1: In twenty twenty one, I didn't do it as bad,

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Speaker 1: but I don't think I sold as much as I

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Speaker 1: as I should have, and taken a little bit more

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Speaker 1: conservative approach, and now now here we are. And then also,

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Speaker 1: like I mean, other mistakes, I mean, I've this is

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Speaker 1: why I have these these new rules on my are

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Speaker 1: not new, these rules of Betama forever, but I've got really,

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Speaker 1: you know, five rules. And it's because of the mistakes

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Speaker 1: that I've learned from Voyager and Celsius, which is they

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Speaker 1: became insolvent because they made bad management decisions. And if

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Speaker 1: we can hedge ourselves against these bad management decisions that

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Speaker 1: we don't know about, will be a lot safer. And

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Speaker 1: one of those that I talk about is it's all gone,

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Speaker 1: meaning don't invest more than you can afford to lose.

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Speaker 1: I've had people say that they've invested their total life

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Speaker 1: savings and everything else into crypto. That is a recipe

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Speaker 1: for disaster. The next one is everything is a scam

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Speaker 1: until proven otherwise. Next one is don't leave anything in exchanges.

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Speaker 1: I mean you can, you can. Now we're in a

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Speaker 1: world now where we don't need a bank, we don't

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Speaker 1: need an intermediary, we don't need those those middle people.

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Speaker 1: We can we can custody our own assets in a

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Speaker 1: in a ledger or a tracer. So don't leave anything

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Speaker 1: exchang is there's no point to it, and it's very

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Speaker 1: simple to do. I mean, you've got great videos. I've

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Speaker 1: got some videos too, it would show you how to

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Speaker 1: do it. Also, don't use leverage because it's a it's

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Speaker 1: again a rescue for disaster. There's I think it was

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Speaker 1: Charlie Munger and Warren Buffett who said there's three ways

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Speaker 1: to lose everything, ladies, liquor, and leverage, and it makes

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Speaker 1: a lot of sense. And then lastly is take profits

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Speaker 1: along the way. Sweet Jesus, I mean, if you could

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Speaker 1: just take a look and just say yourself and we'll

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Speaker 1: talk about this later. It's about people will always say

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Speaker 1: you gotta diamond hands everything and hold it forever, and

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Speaker 1: you could you could hold everything. Maybe bitcoin becomes the

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Speaker 1: new world reserve currency. I'm not here to dispute that

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Speaker 1: I have no idea, but maybe, just maybe that won't happen.

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Speaker 1: And if those things don't happen, maybe it's a good

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Speaker 1: idea to take profits along the way so when the

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Speaker 1: bear market comes, you have more powder on the sidelines

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Speaker 1: to do the things you really want to do. Buy crypto,

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Speaker 1: buy real estate, start a company, pay your bills for

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Speaker 1: pete sakes, and go from there. So those are the

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Speaker 1: new rules. But it all came from all the screw

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Speaker 1: ups that I did along the way. Yeah, I think, well,

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Speaker 1: anyone listening to this, I think should just should just

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Speaker 1: rewind those last few minutes and just listen to those

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Speaker 1: five rules five rules again and note them down, because yeah,

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Speaker 1: I mean, it's it's so true. It's so true. And yeah,

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Speaker 1: from someone like you, from someone like yourself, Rob, who

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Speaker 1: has who has made these mistakes, you know, this isn't

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Speaker 1: just something This isn't just something you know you pick

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Speaker 1: up in a self help book. This is this is

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Speaker 1: this is You've been there, you know, and I mean

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Speaker 1: I've I've made I've made these so many of these

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Speaker 1: mistakes as well, and yeah, you know the best the

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Speaker 1: only thing you know, it's making a mistake twice. That's that.

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Speaker 1: That's the definition of a fool, isn't it. And if

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Speaker 1: you if you're prepared to learn from your mistakes, then

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Speaker 1: then you know there's there's so many there's so many

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Speaker 1: possibilities ahead of you. But it's that first it's that

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Speaker 1: difficult first stake step of of looking yourself in the

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Speaker 1: eye and going, I screwed. You know, what can I

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Speaker 1: how can I? How can I not? What steps can

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Speaker 1: I take to not screw up again? And I think, yeah,

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Speaker 1: those those five steps of yours are the best, the

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Speaker 1: best best advice you can give anyone. Well, if you

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Speaker 1: whoever listen to the podcast or comes to the show,

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Speaker 1: they'll see those five rules. They're constantly on my on

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Speaker 1: every live stream and every video that I do, so

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Speaker 1: you can't forget them. And then there's a there's a quote.

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Speaker 1: It's a it was a Greek philosopher poet Archipelaicus, and

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Speaker 1: they said, we don't we don't rise to the occasion,

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Speaker 1: we fall to the level of our training. And I think,

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Speaker 1: if you can have these these rules, whatever those rules

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Speaker 1: are that you create for yourself or maybe some of mine.

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Speaker 1: I think it's it makes you a little bit safer

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Speaker 1: in the investment realm, absolutely absolutely, so yeah, so so

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Speaker 1: I mean, let's let's kind of bearing all those sparing

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Speaker 1: all those things in mind. And you know, as as

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Speaker 1: you say, you talk about Voyager and Celsius, these these

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Speaker 1: these events that have taken place just within the last

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Speaker 1: few months in the in these really difficult last few

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Speaker 1: months that the crypto markets had that financial markets everywhere

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Speaker 1: have had. So yeah, I just I'm really interested to

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Speaker 1: kind of get your your take on where crypto is

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Speaker 1: at the moment, where the markets, what we're looking at,

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Speaker 1: what sort of situation we're looking at. Obviously we're deep

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Speaker 1: into a bear market. Now, how long do you see

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Speaker 1: it's going on? You know what, what do you think

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Speaker 1: we're at a particular stage of the bear market yet.

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Speaker 1: So I'm a big believer in in cycles and four

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Speaker 1: your cycles and twenty your cycles and things like that.

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Speaker 1: There's a great book it's called This Time Is Different.

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Speaker 1: It's by Ryan Hart and Roboth and it takes a

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Speaker 1: look at eight centuries of economic folly and just says

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Speaker 1: how things just kind of repeat and repeat and repeat.

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Speaker 1: And for these four your side, I mean, for bitcoin

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Speaker 1: has them. In the crypto market, I always take a look,

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Speaker 1: you know, and it always starts with a with a having.

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Speaker 1: So in twenty twelve we had a Having thirteen and

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Speaker 1: all time high than twenty fourteen, we have a dip

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Speaker 1: until I'm fifteen, a reset. Two thousand and sixteen, we

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Speaker 1: have a Having seventeen all time high two eighteen, a

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Speaker 1: dip in a reset. In two thousand twenty we had

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Speaker 1: a HAVOC twenty one all time high, which I didn't

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Speaker 1: I honestly went against my better judgment. I thought, well,

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Speaker 1: maybe we'll extend it out to twenty twenty two, but

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Speaker 1: it didn't work like that. Twenty twenty one was it,

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Speaker 1: And then twenty twenty two. Now here we are in

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Speaker 1: this in this massive dip. I mean, I think we're

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Speaker 1: down seventy one percent sevent two percent from the all

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Speaker 1: time high for bitcoin. All t cooins, of course, have

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Speaker 1: fallen somewhere, specifically different ones eighty percent or lower, depending

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Speaker 1: on which one you take a look at. So I

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Speaker 1: think when I take a look at where we're at

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Speaker 1: right now, I just see it at as we're in

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Speaker 1: a bear market, and you have to understand that we

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Speaker 1: were in a in a very long uptrend from the

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Speaker 1: time that bitcoin was creating two thousand and nine, after

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Speaker 1: the financial global crisis and meltdown, when we had an

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Speaker 1: economic boom from twenty ten all the way up twenty

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Speaker 1: twenty one. Yeah, I mean, I mean, take away that

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Speaker 1: the coronavirus, and there was a lot of quantitative easing

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Speaker 1: and a lot of printing and a lot of globalization,

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Speaker 1: and it was it was right for that market to

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Speaker 1: really happen, and we didn't see a recession. So now

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Speaker 1: when people say, well, bitcoin's never done, bitcoin has never

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Speaker 1: been through a major war. Oh, I mean, you know,

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Speaker 1: it's been through Afghanistan. And Afghanistan we've been in there

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Speaker 1: for for decades. We just pulled out last year and

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Speaker 1: of course the Ukraine War. Now we're taking a look

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Speaker 1: at sort of quantity of easing, quantity of tightening, which

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Speaker 1: I believe what will happen. And if we take a

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Speaker 1: look at just the basic charts of how long recessions last,

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Speaker 1: usually looking at around eighteen months, maybe twenty four months,

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Speaker 1: and going all the way back to the sixties. So

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Speaker 1: if we hit a recession like we think we are

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Speaker 1: going to in twenty twenty three, and not to say

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Speaker 1: we can't have a rally in that time. I think

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Speaker 1: in the next three months we might have a bear

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Speaker 1: market rally. But if we have a recession twenty twenty three,

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Speaker 1: which is the same thing as a four year cycle,

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Speaker 1: it goes down, which we'll see it. I think stocks, equities,

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Speaker 1: real estate will collapse, and then in twenty twenty four

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Speaker 1: we'll see a little bit of rebuilding, but pretty much sideways.

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Speaker 1: And what does that leave us to to twenty twenty

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Speaker 1: five when we start to hit bigger numbers in all

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Speaker 1: time high So it's almost it's weird. It's almost like

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Speaker 1: it fits in there perfectly. And having said that, does

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Speaker 1: that mean it's going to happen? No? I could be

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Speaker 1: wrong yet again, don't I have no crystal ball, so

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Speaker 1: don't listen to me. But it's almost like it's fitting

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Speaker 1: in there pretty well. But maybe it takes to twenty

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Speaker 1: twenty six by twenty twenty seven. And so the question

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Speaker 1: that I have for actually, for you guys, would that

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Speaker 1: be so awful if we got three years or so

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Speaker 1: two dollar cost average and buy into our positions because

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Speaker 1: like we know that bearer markets and wilts forever, and

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Speaker 1: neither do ball markets. So maybe that's another blessing we

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Speaker 1: just don't know yet. Yeah, And it feels like after

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Speaker 1: such a I mean, there was talk of the everything bubble,

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Speaker 1: wasn't there after such a long period of high prices,

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Speaker 1: of growth, of quantitative easing of all the it. You know, Yeah,

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Speaker 1: as you say, these things, these things can't possibly last forever,

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Speaker 1: and there has to be there has to be a

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Speaker 1: cooling off. There has to be a draining of all

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Speaker 1: this kind of unnatural exuberance, and that has to happen

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Speaker 1: before anything can grow again. So I'm kind of with you.

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Speaker 1: I mean, twenty twenty five, it seems it seems such

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Speaker 1: a long way off, doesn't it. And there's there's so

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Speaker 1: much there's so much kind of pain, there's so much

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Speaker 1: kind of you know, there's so much bleeding of prices

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Speaker 1: in that time. And I guess, I mean, I don't

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Speaker 1: know about you, but certainly the sense that I'm getting

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Speaker 1: looking at the crypto market a lot of the time,

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Speaker 1: but also kind of wider markets as well, I think

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Speaker 1: the overriding sense can at times like this can often

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Speaker 1: be just boredom. You know, everything's kind of trading kind

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Speaker 1: of sideways and down, and all that exuberance has gone

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Speaker 1: and all you've got left are you know, a kind

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Speaker 1: of a few people sort of grimly hanging on in there,

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Speaker 1: whilst most people just kind of focus on other things.

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Speaker 1: It's so, yeah, I don't I don't necessarily think a

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Speaker 1: long cooling off, a long period of of of of

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Speaker 1: low growth is necessarily a bad thing. No. No, And

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Speaker 1: then when I when I take a look at it,

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Speaker 1: and I take a look at you know, where these

427
00:21:40,440 --> 00:21:44,119
Speaker 1: markets are are potentially going. I mean, we could be

428
00:21:45,080 --> 00:21:48,359
Speaker 1: we could go any which way in our honesty, but

429
00:21:48,400 --> 00:21:52,040
Speaker 1: there's a couple of things that make me stop and

430
00:21:52,240 --> 00:21:58,040
Speaker 1: consider I could very well be wrong. There's two two

431
00:21:58,119 --> 00:22:01,119
Speaker 1: ways to go about it. There is a legendary investor,

432
00:22:01,240 --> 00:22:03,280
Speaker 1: Drucken Miller, and he came out and he said, like, look,

433
00:22:03,320 --> 00:22:06,760
Speaker 1: he said, this reminds me of the same time of

434
00:22:06,880 --> 00:22:09,119
Speaker 1: back in the sixties and seventies. Maybe take a look

435
00:22:09,160 --> 00:22:10,920
Speaker 1: at the SMP five hundred. There was like a ten

436
00:22:11,040 --> 00:22:14,440
Speaker 1: years of stagnation and I went down and it kind

437
00:22:14,480 --> 00:22:16,119
Speaker 1: of went sideways and went up, but it took ten

438
00:22:16,200 --> 00:22:19,840
Speaker 1: years to really recover of what actually happened, and and

439
00:22:19,960 --> 00:22:22,800
Speaker 1: he gave some specific reasons, and the reasons why that

440
00:22:23,000 --> 00:22:26,000
Speaker 1: it went down and came back up was, of course globalization.

441
00:22:26,200 --> 00:22:29,200
Speaker 1: Things actually started to move out. These big corporations would

442
00:22:29,400 --> 00:22:32,800
Speaker 1: would move across globally and higher workers for cheaper labor,

443
00:22:32,880 --> 00:22:36,200
Speaker 1: and they would increase their productivity. And right now there's

444
00:22:36,520 --> 00:22:40,200
Speaker 1: less of globalization as people as especially here in America,

445
00:22:40,200 --> 00:22:42,560
Speaker 1: we're starting to kind of pull things back and become

446
00:22:42,600 --> 00:22:46,320
Speaker 1: more nationalization of what we want to do. And there's that.

447
00:22:46,680 --> 00:22:49,440
Speaker 1: There's there's the FED rate hikes, which I mean, we

448
00:22:49,560 --> 00:22:54,240
Speaker 1: just did seenti five basis points mortgage housing mortgage costs

449
00:22:54,359 --> 00:22:57,880
Speaker 1: or like seven percent or higher. And Jerome Palace said

450
00:22:57,920 --> 00:22:59,560
Speaker 1: pretty much, hey, we're going to keep going until we

451
00:22:59,600 --> 00:23:02,000
Speaker 1: break the back of inflation, which is two percent, even

452
00:23:02,040 --> 00:23:04,840
Speaker 1: though we just see it's it's well over gosh six

453
00:23:04,920 --> 00:23:07,159
Speaker 1: percent now as well. So I take a look at

454
00:23:07,160 --> 00:23:08,879
Speaker 1: that and go, maybe we've got a longer time than

455
00:23:08,920 --> 00:23:10,960
Speaker 1: I think about. But then on the flip side, I

456
00:23:11,000 --> 00:23:16,479
Speaker 1: also think about this. Institutions are greedy, let's be honest,

457
00:23:17,240 --> 00:23:19,600
Speaker 1: and if they're looking at some asymmetrical bets, they have

458
00:23:19,680 --> 00:23:22,119
Speaker 1: to take a look at well, okay, where is the

459
00:23:22,240 --> 00:23:28,840
Speaker 1: future going? You know, from the industrial revolution to the

460
00:23:28,880 --> 00:23:31,840
Speaker 1: computer revolution to where we are right now, maybe the

461
00:23:31,880 --> 00:23:35,639
Speaker 1: cryptologial asset revolution. Where's the money going? Right now? We're

462
00:23:35,680 --> 00:23:38,120
Speaker 1: sitting around nine hundred and fifty billion dollars market cap

463
00:23:38,160 --> 00:23:41,879
Speaker 1: for the entire crypto market. Well, the entire market cap

464
00:23:41,960 --> 00:23:45,520
Speaker 1: of gold is twelve trillion dollars, the entire market cap

465
00:23:46,080 --> 00:23:48,920
Speaker 1: of real estate globally is over three hundred and forty

466
00:23:49,040 --> 00:23:52,280
Speaker 1: trillion dollars, and the entire market cap of the entire

467
00:23:52,359 --> 00:23:54,639
Speaker 1: stock market is between two hundred and sixty and three

468
00:23:54,720 --> 00:23:57,000
Speaker 1: hundred trillion dollars. So if they take a look at

469
00:23:57,040 --> 00:23:59,159
Speaker 1: that and go, Okay, where's the best place I can

470
00:23:59,240 --> 00:24:02,520
Speaker 1: park my money as it inflates away? Well, maybe it's

471
00:24:02,600 --> 00:24:06,240
Speaker 1: this thing called bitcoin cryptogial assets. Because I want to

472
00:24:06,359 --> 00:24:08,879
Speaker 1: see a double triple, and alls I gotta do is

473
00:24:08,920 --> 00:24:10,720
Speaker 1: wait for it to go to nine hundred fifty billion

474
00:24:11,040 --> 00:24:13,399
Speaker 1: to two and three trillion. Well they've already done that

475
00:24:13,440 --> 00:24:15,680
Speaker 1: in twenty twenty one. So that's the thing that I

476
00:24:15,840 --> 00:24:18,560
Speaker 1: always look at and go, is druck a Miller right?

477
00:24:18,720 --> 00:24:20,879
Speaker 1: Or we get a whole decade? Or do we just

478
00:24:20,960 --> 00:24:23,080
Speaker 1: take a look at the money and go, Okay, well

479
00:24:23,119 --> 00:24:27,920
Speaker 1: there's a bigger upsite here, and that's a big asymmetrical bet. Yeah. Yeah,

480
00:24:28,040 --> 00:24:30,439
Speaker 1: and the sense, I think, the sense that there are

481
00:24:30,600 --> 00:24:34,240
Speaker 1: institutions there is there is big institutional money kind of

482
00:24:34,280 --> 00:24:37,879
Speaker 1: waiting on the sidelines, I think, and obviously a lot

483
00:24:37,960 --> 00:24:40,840
Speaker 1: of it. It concerns well, I mean, the actions of

484
00:24:40,880 --> 00:24:43,639
Speaker 1: the FED. That's something I wanted to talk to you

485
00:24:43,680 --> 00:24:46,120
Speaker 1: about it a little bit because I was really keen

486
00:24:46,200 --> 00:24:49,760
Speaker 1: to get your perspective. I was talking to to Ben

487
00:24:49,880 --> 00:24:52,360
Speaker 1: Cohen about this just yesterday. I'm really keen to get,

488
00:24:52,640 --> 00:24:55,840
Speaker 1: you know, the perspectives of my American friends, because well,

489
00:24:55,920 --> 00:24:58,119
Speaker 1: let's let's quickly talk about the FED, because obviously you

490
00:24:58,280 --> 00:25:01,359
Speaker 1: referenced you talked about your own how these the seventy

491
00:25:01,400 --> 00:25:04,640
Speaker 1: five basis point rate hike that they've just the FED

492
00:25:04,800 --> 00:25:07,280
Speaker 1: is just put in place. I mean, it looks like

493
00:25:07,359 --> 00:25:09,600
Speaker 1: we're gonna you're going to get another one in early

494
00:25:09,720 --> 00:25:13,760
Speaker 1: November when the next when the FED sort of reconvenes again.

495
00:25:14,320 --> 00:25:17,800
Speaker 1: Do you think that the FED is do you think

496
00:25:17,840 --> 00:25:20,920
Speaker 1: that the FED is kind of is focused on its

497
00:25:21,080 --> 00:25:24,880
Speaker 1: kind of credibility at the moment, because obviously they kind

498
00:25:24,880 --> 00:25:28,600
Speaker 1: of got burned around the pandemic, didn't they when when

499
00:25:28,640 --> 00:25:33,000
Speaker 1: they these kind of claims that inflation was transitory, and

500
00:25:33,240 --> 00:25:37,240
Speaker 1: now inflation is running red hot and they've got to

501
00:25:37,280 --> 00:25:39,560
Speaker 1: get it under control. So do you think do you

502
00:25:39,600 --> 00:25:41,760
Speaker 1: think the Fed is is desperately trying to kind of

503
00:25:41,920 --> 00:25:44,479
Speaker 1: maintain a bit of credibility now, which which would obviously

504
00:25:44,600 --> 00:25:47,600
Speaker 1: mean that interest rates are going to keep going up

505
00:25:47,800 --> 00:25:52,879
Speaker 1: for really the foreseeable future. I think I'm just going

506
00:25:52,920 --> 00:25:55,320
Speaker 1: to guess. I mean, I know Jerome watched the show,

507
00:25:55,400 --> 00:25:58,359
Speaker 1: but I mean I've never talked him personally, and and

508
00:25:58,960 --> 00:26:00,720
Speaker 1: I just have to guess that, I mean, they kind

509
00:26:00,720 --> 00:26:03,359
Speaker 1: of have a black eye because they talked about, you know,

510
00:26:04,040 --> 00:26:07,880
Speaker 1: inflation is not a big issue. Inflation is transitory. Okay,

511
00:26:08,000 --> 00:26:09,560
Speaker 1: now it's going to be around. But we're gonna have

512
00:26:09,560 --> 00:26:11,639
Speaker 1: a soft landing. Okay, now it's not so much as

513
00:26:11,680 --> 00:26:14,399
Speaker 1: soft landing. It's gonna be harder landing. And now it's

514
00:26:14,440 --> 00:26:16,600
Speaker 1: just going to be, you know, maybe just a big

515
00:26:16,720 --> 00:26:20,320
Speaker 1: delta disaster and it just crashes in. So I think

516
00:26:21,240 --> 00:26:22,800
Speaker 1: there is a part of that where they want to

517
00:26:23,560 --> 00:26:29,200
Speaker 1: They probably wanted not just their reputation, but it's it's

518
00:26:29,240 --> 00:26:31,160
Speaker 1: something a guy you know this. You you always want

519
00:26:31,160 --> 00:26:33,600
Speaker 1: to do the best thing that you can do at

520
00:26:33,640 --> 00:26:35,159
Speaker 1: your job. You want to always want to, you know,

521
00:26:35,240 --> 00:26:37,000
Speaker 1: try to live up to the expectation, to try to

522
00:26:37,040 --> 00:26:40,760
Speaker 1: the best that you possibly can. I don't think that

523
00:26:40,920 --> 00:26:44,240
Speaker 1: Jerome Powell wants to be remembered as the FED chair

524
00:26:44,359 --> 00:26:47,159
Speaker 1: like Burns was in the late seventies, because Burns was

525
00:26:47,680 --> 00:26:50,080
Speaker 1: was the FED chair before Volker came in and he

526
00:26:50,240 --> 00:26:53,920
Speaker 1: got replaced because he did do FED rate hikes, but

527
00:26:54,000 --> 00:26:56,800
Speaker 1: he didn't do enough, which was really leading us into

528
00:26:57,000 --> 00:27:00,040
Speaker 1: another great depression, and they had to get this, you

529
00:27:00,080 --> 00:27:01,960
Speaker 1: have to step down. Bulker came in and said, look,

530
00:27:01,960 --> 00:27:03,959
Speaker 1: here's what we're gonna do. It's gonna suck, it's being painful,

531
00:27:04,200 --> 00:27:06,879
Speaker 1: but we're gonna avoid this depression. And he did it,

532
00:27:07,000 --> 00:27:09,280
Speaker 1: and people were mad at him. But I know in

533
00:27:09,359 --> 00:27:11,119
Speaker 1: the back of your mind you're thinking to yourself, this

534
00:27:11,359 --> 00:27:13,720
Speaker 1: is what I need to do to do my job

535
00:27:14,240 --> 00:27:16,440
Speaker 1: and to make sure I do things right. And I

536
00:27:16,520 --> 00:27:18,800
Speaker 1: think it's and you can hear it in his voice

537
00:27:18,840 --> 00:27:21,119
Speaker 1: and every one of his of his speeches, I mean,

538
00:27:21,240 --> 00:27:23,719
Speaker 1: just the Jackson whole speech. He invoked the Volker at

539
00:27:23,760 --> 00:27:26,280
Speaker 1: least four or five times. And said, look, we're gonna

540
00:27:26,359 --> 00:27:28,480
Speaker 1: keep doing until the job is done. We're gonna we're

541
00:27:28,520 --> 00:27:31,400
Speaker 1: gonna try to hit that two percent rate, and we're gonna, unfortunately,

542
00:27:31,440 --> 00:27:33,760
Speaker 1: to keep raising rates. It's gonna be painful for the

543
00:27:34,119 --> 00:27:37,400
Speaker 1: American worker, but we must do this because if we don't,

544
00:27:37,640 --> 00:27:40,639
Speaker 1: leads to da da da, and then off we go.

545
00:27:40,840 --> 00:27:44,560
Speaker 1: So I think that yes, he's probably worried about, like,

546
00:27:44,800 --> 00:27:47,080
Speaker 1: you know, to saving face, but I think the bigger

547
00:27:47,160 --> 00:27:50,959
Speaker 1: thing is moving forward into you know, what is your

548
00:27:51,280 --> 00:27:53,600
Speaker 1: what is your legacy moving forward? Were you the one

549
00:27:53,680 --> 00:27:56,000
Speaker 1: that led America to the depression or were you the

550
00:27:56,080 --> 00:27:59,600
Speaker 1: one that led him out? Yeah? Yeah, and I guess

551
00:27:59,680 --> 00:28:01,560
Speaker 1: being you know, you want to he'll want to be

552
00:28:01,680 --> 00:28:04,000
Speaker 1: remembered as as as as the guy who kind of

553
00:28:04,800 --> 00:28:09,159
Speaker 1: forced the American economy to take its medicine. However, you know,

554
00:28:09,280 --> 00:28:14,800
Speaker 1: however difficult, however painful that was, because yeah, you're absolutely right,

555
00:28:14,880 --> 00:28:18,160
Speaker 1: you know, legacy, I think is is top of mind

556
00:28:18,320 --> 00:28:20,560
Speaker 1: for guys like this. You don't want you want to

557
00:28:20,600 --> 00:28:23,520
Speaker 1: be the Volca, you don't want to be the Burns. Yeah,

558
00:28:23,720 --> 00:28:25,640
Speaker 1: and you know what, like like here's a couple of things.

559
00:28:25,720 --> 00:28:28,800
Speaker 1: First of all, who remembers Burns. Nobody remembers Burns, you know,

560
00:28:28,920 --> 00:28:31,240
Speaker 1: they remember Volcan though, like, oh I remember Volcan because

561
00:28:31,240 --> 00:28:33,280
Speaker 1: he isn't one who did it. But having said all that,

562
00:28:33,600 --> 00:28:36,800
Speaker 1: there's another side of that. Is this the perfect way

563
00:28:36,880 --> 00:28:39,880
Speaker 1: to do things? Is this the right way for that

564
00:28:40,080 --> 00:28:42,000
Speaker 1: Drum has to do it this way, The whole fet

565
00:28:42,080 --> 00:28:45,560
Speaker 1: has to do this way. That's a difficult decision. That's

566
00:28:45,560 --> 00:28:48,120
Speaker 1: a difficult things to say, and a lot of people

567
00:28:48,160 --> 00:28:50,160
Speaker 1: will say, no, he can actually ease up and he

568
00:28:50,200 --> 00:28:53,560
Speaker 1: can do these things. I personally think that he has

569
00:28:53,640 --> 00:28:55,200
Speaker 1: to keep his foot on the gas a little bit

570
00:28:55,560 --> 00:28:59,200
Speaker 1: because we start quantitative easing, which, let's be honest, thank

571
00:28:59,280 --> 00:29:01,920
Speaker 1: if anyone's doing that right now, what's the turns out?

572
00:29:02,080 --> 00:29:05,520
Speaker 1: I mean, it's kind of weird to raise rates then

573
00:29:05,600 --> 00:29:08,080
Speaker 1: also start to turn on the money. Printer. Maybe that's

574
00:29:08,120 --> 00:29:11,160
Speaker 1: the way, but I just don't see it. It's and

575
00:29:11,240 --> 00:29:13,360
Speaker 1: it's an odd situation we've got in the UK at

576
00:29:13,360 --> 00:29:16,360
Speaker 1: the moment because obviously, yeah, with the pound, the pound

577
00:29:16,480 --> 00:29:19,640
Speaker 1: absolutely plunged on on the news of that kind of

578
00:29:19,720 --> 00:29:23,400
Speaker 1: disastrous budget, and I mean it's scary how close to

579
00:29:23,520 --> 00:29:26,280
Speaker 1: parity with the dollar we got. I mean, it's the

580
00:29:26,440 --> 00:29:29,680
Speaker 1: craziest thing. But you know, now that the bank has

581
00:29:29,840 --> 00:29:32,520
Speaker 1: now that the bank has stepped in, the markets are

582
00:29:33,320 --> 00:29:36,760
Speaker 1: are rallying. And actually, I mean the the UK government

583
00:29:36,800 --> 00:29:40,040
Speaker 1: has been kind of forced into into a very embarrassing

584
00:29:40,160 --> 00:29:42,520
Speaker 1: U turn to to kind of scrap this this top

585
00:29:42,600 --> 00:29:46,120
Speaker 1: rate at this this top rate tax cut. But I mean, yeah,

586
00:29:46,200 --> 00:29:49,520
Speaker 1: certainly the pound is the pound is rallying now. But

587
00:29:49,760 --> 00:29:52,360
Speaker 1: I mean, yeah, long term, you think, how can this

588
00:29:53,080 --> 00:29:56,040
Speaker 1: how can just flooding the economy with more money? How

589
00:29:56,120 --> 00:29:58,440
Speaker 1: can that be? How can that be a good thing

590
00:29:58,480 --> 00:30:01,160
Speaker 1: in the long term? This this feels to me like

591
00:30:01,280 --> 00:30:04,400
Speaker 1: a very sort of a kind of relief rally before

592
00:30:04,880 --> 00:30:08,920
Speaker 1: before things start trending downwards again. Certainly certainly in the

593
00:30:09,080 --> 00:30:12,120
Speaker 1: UK market. Yeah, that's a good point. A lot of people,

594
00:30:12,640 --> 00:30:14,840
Speaker 1: I mean, it's amazing, Like you'll see, like there's two

595
00:30:14,920 --> 00:30:16,480
Speaker 1: camps one that say this is going to lead to

596
00:30:16,480 --> 00:30:20,080
Speaker 1: absolute disaster, and people are like, no, modern monetary theory,

597
00:30:20,120 --> 00:30:21,440
Speaker 1: we can keep printing as long as you want to

598
00:30:21,520 --> 00:30:24,240
Speaker 1: and it'll be fine. And so we're going to find out.

599
00:30:24,600 --> 00:30:26,240
Speaker 1: We are going to find out, and it's going to

600
00:30:26,320 --> 00:30:29,080
Speaker 1: be a scary time. That's why, like, like people listen

601
00:30:29,120 --> 00:30:31,280
Speaker 1: to this heads your bet. You know, I don't think

602
00:30:31,320 --> 00:30:34,840
Speaker 1: this is the time to sell your house and kids

603
00:30:34,880 --> 00:30:37,280
Speaker 1: and kidneys just to start to put up into a

604
00:30:37,320 --> 00:30:40,640
Speaker 1: bunch of stocks or crypto I think, I think there's

605
00:30:40,680 --> 00:30:44,280
Speaker 1: a lot of unknowns, so be careful out there. Yeah. Yeah,

606
00:30:44,800 --> 00:30:46,960
Speaker 1: And that's well, that kind of leads me into something

607
00:30:47,000 --> 00:30:49,440
Speaker 1: because I wanted to talk to you about as well, Rob,

608
00:30:49,560 --> 00:30:53,160
Speaker 1: because we were we were speaking off air, and you

609
00:30:53,280 --> 00:30:55,880
Speaker 1: were talking about you were talking about kind of this

610
00:30:56,120 --> 00:30:59,520
Speaker 1: this idea of diamond hands, you know, this phrase that

611
00:30:59,560 --> 00:31:02,240
Speaker 1: you a phrase that we hear a lot in the

612
00:31:02,320 --> 00:31:04,840
Speaker 1: crypto space, this idea of you know, holding on at

613
00:31:04,880 --> 00:31:09,280
Speaker 1: all costs, you never sell, you never sell, and never sell.

614
00:31:09,560 --> 00:31:12,200
Speaker 1: And you know, this is something that's it's a really

615
00:31:12,320 --> 00:31:15,760
Speaker 1: kind of pervasive, you know, pervasive thing in the crypto

616
00:31:15,800 --> 00:31:18,000
Speaker 1: space at the moment. I've I've I must say, you know,

617
00:31:18,160 --> 00:31:21,280
Speaker 1: I've I've kind of pushed this philosophy in the past

618
00:31:21,400 --> 00:31:24,680
Speaker 1: as well, because you know, I have I believe it

619
00:31:24,720 --> 00:31:26,600
Speaker 1: a lot of the time. But you made this really

620
00:31:26,680 --> 00:31:30,760
Speaker 1: good point of like, you know, people are so often

621
00:31:30,920 --> 00:31:34,440
Speaker 1: kind of led down this path of believing one thing

622
00:31:35,000 --> 00:31:37,200
Speaker 1: or on and there's a complete opposite to that as well,

623
00:31:37,320 --> 00:31:39,040
Speaker 1: isn't there there there are hype There are the hype

624
00:31:39,120 --> 00:31:42,040
Speaker 1: merchants who are just you know, buy, sell, trade, you know,

625
00:31:42,520 --> 00:31:44,160
Speaker 1: do what, do what you gotta do, and then you've

626
00:31:44,160 --> 00:31:46,920
Speaker 1: got the other but you know, the hardcore diamond handers

627
00:31:46,960 --> 00:31:50,560
Speaker 1: on the other on the other side. So I wanted

628
00:31:50,600 --> 00:31:54,880
Speaker 1: to Yeah, I think there's this idea of how you

629
00:31:54,920 --> 00:31:57,720
Speaker 1: should I feel as an investor, you should you should

630
00:31:57,760 --> 00:32:00,120
Speaker 1: look to go your own way. You know that that

631
00:32:00,280 --> 00:32:03,200
Speaker 1: filter out some of this noise, filter out, filtering out

632
00:32:03,240 --> 00:32:05,600
Speaker 1: the diamond hand does filter out the hype merchants and

633
00:32:05,760 --> 00:32:09,040
Speaker 1: kind of focus on your particular path. I mean, is

634
00:32:09,120 --> 00:32:12,480
Speaker 1: that something Is that something that you've kind of always

635
00:32:13,000 --> 00:32:15,760
Speaker 1: Is that? Have you always trying to be your own man?

636
00:32:15,880 --> 00:32:17,800
Speaker 1: Do you think? Or is this something that you've you've

637
00:32:18,120 --> 00:32:21,200
Speaker 1: kind of developed over time? No, just it just it

638
00:32:21,280 --> 00:32:23,160
Speaker 1: goes back the samething where it's home about about screw

639
00:32:23,200 --> 00:32:25,480
Speaker 1: ups in the beginning and the mistakes. Like in the beginning,

640
00:32:25,560 --> 00:32:27,160
Speaker 1: I was just you know, me and you guy are

641
00:32:27,200 --> 00:32:29,800
Speaker 1: the same. We would say you got a diamond hands,

642
00:32:29,920 --> 00:32:32,320
Speaker 1: you gotta hold for you gotta hold and hold and

643
00:32:32,440 --> 00:32:35,720
Speaker 1: hold and then hold some more, because that's just how

644
00:32:35,920 --> 00:32:38,520
Speaker 1: everything will work out, and it'll work itself out again.

645
00:32:39,240 --> 00:32:43,480
Speaker 1: There's a there's this phrase I say because people will say, well,

646
00:32:43,560 --> 00:32:45,720
Speaker 1: you know, bull runs don't last for nothing goes up,

647
00:32:45,720 --> 00:32:47,880
Speaker 1: for anything goes down forever. So if you just hold

648
00:32:47,920 --> 00:32:51,200
Speaker 1: you be okay. But I want everybody remember this. Some

649
00:32:51,320 --> 00:32:54,160
Speaker 1: things aren't coming back as far as like crypto digital assets,

650
00:32:54,200 --> 00:32:56,360
Speaker 1: they're just not. And I always use an example, and

651
00:32:56,840 --> 00:32:58,880
Speaker 1: it may play out differently, but I always say a

652
00:32:58,960 --> 00:33:02,600
Speaker 1: Dash assault. And there was two different projects. One was

653
00:33:02,640 --> 00:33:04,240
Speaker 1: called Dash and it was the biggest one of the

654
00:33:04,520 --> 00:33:06,840
Speaker 1: It was the top ten crypto in twenty seventeen, and

655
00:33:06,920 --> 00:33:08,320
Speaker 1: I was supposed to be the next big thing and

656
00:33:08,880 --> 00:33:12,920
Speaker 1: the flippening and takeover ethereum. And you invest in twenty seventeen,

657
00:33:14,160 --> 00:33:17,200
Speaker 1: you are underwater big time because even twenty twenty one

658
00:33:17,240 --> 00:33:18,960
Speaker 1: had a little rally but not too much. And the

659
00:33:19,040 --> 00:33:22,200
Speaker 1: one on their one called Salt Salts was a lending

660
00:33:22,240 --> 00:33:25,120
Speaker 1: platform and the SEC got involved in sued him and

661
00:33:25,400 --> 00:33:28,120
Speaker 1: twenty seventeen, I think one above a dollar. Now, what's

662
00:33:28,120 --> 00:33:30,640
Speaker 1: pennies in the dollar and it's not coming back. Almost

663
00:33:30,680 --> 00:33:33,280
Speaker 1: looks like it almost looks like like an EKG rhythm.

664
00:33:33,560 --> 00:33:35,240
Speaker 1: When some of the flatlines and has a heart attack.

665
00:33:35,320 --> 00:33:37,280
Speaker 1: That's essentially what it looks like. It's like one bit

666
00:33:37,720 --> 00:33:40,520
Speaker 1: and that's it. So when we take a look at

667
00:33:40,560 --> 00:33:42,960
Speaker 1: these things, you have to understand that some things aren't

668
00:33:42,960 --> 00:33:45,280
Speaker 1: coming back. And in this bear market, that's when you

669
00:33:45,360 --> 00:33:48,040
Speaker 1: want to call build a bear, do your research and

670
00:33:48,080 --> 00:33:52,040
Speaker 1: all those things. So the next part is understanding what

671
00:33:52,160 --> 00:33:55,160
Speaker 1: kind of a trader you are, what kind of person

672
00:33:55,240 --> 00:33:57,160
Speaker 1: you are, what kind of investor you are. If you

673
00:33:57,280 --> 00:33:59,920
Speaker 1: are a Michael Sailor and you're a billionaire with a

674
00:34:00,080 --> 00:34:03,840
Speaker 1: company that can take out a bunch of debt and

675
00:34:03,960 --> 00:34:06,320
Speaker 1: buy a bitcoin and wait for fifty years, that is

676
00:34:06,560 --> 00:34:09,600
Speaker 1: much different from a person who works at the post office,

677
00:34:11,160 --> 00:34:13,800
Speaker 1: or is it works at a post office? Maybe single

678
00:34:13,840 --> 00:34:16,160
Speaker 1: mom has three kids and has very little time to

679
00:34:16,280 --> 00:34:18,160
Speaker 1: invest and very little money and has to put through

680
00:34:18,239 --> 00:34:19,800
Speaker 1: the table. There is a vast difference. So you have

681
00:34:19,840 --> 00:34:22,759
Speaker 1: to understand who am I and how long is my

682
00:34:22,880 --> 00:34:26,040
Speaker 1: time horizon? If you want a diamond hands for fifty years.

683
00:34:26,400 --> 00:34:29,600
Speaker 1: Bitcoin might be the greatest thing of all time. I'm

684
00:34:29,600 --> 00:34:31,200
Speaker 1: not saying it. It can't. It may be the next

685
00:34:31,320 --> 00:34:34,560
Speaker 1: world reserve currency. I have no idea, but I will

686
00:34:34,680 --> 00:34:39,480
Speaker 1: save this. It is everything in crypto and digital assets

687
00:34:39,560 --> 00:34:43,160
Speaker 1: is a speculative asset until we start to get some

688
00:34:43,360 --> 00:34:46,759
Speaker 1: really fast mass adoption where people are using it on

689
00:34:46,840 --> 00:34:49,439
Speaker 1: a day to day like basis. And I'm not talking

690
00:34:49,480 --> 00:34:52,200
Speaker 1: about like a million people or ten million people. I'm

691
00:34:52,280 --> 00:34:55,760
Speaker 1: talking like one hundred million up to a billion people.

692
00:34:56,160 --> 00:34:58,800
Speaker 1: Once we get that we're not a speculative asset anymore,

693
00:34:59,120 --> 00:35:01,320
Speaker 1: then all of a sudden start to start to smooth

694
00:35:01,360 --> 00:35:03,480
Speaker 1: out and we have more of those like typical bear

695
00:35:03,520 --> 00:35:05,560
Speaker 1: and bull runs like we see in the stock market.

696
00:35:06,000 --> 00:35:09,040
Speaker 1: So right now, if people say diamond hands, you can

697
00:35:09,080 --> 00:35:11,080
Speaker 1: do that. I'm not here to say that you can't

698
00:35:11,120 --> 00:35:13,759
Speaker 1: do that, but I understand, like, how long is your

699
00:35:13,800 --> 00:35:18,640
Speaker 1: time horizon? Do you have problems like buying things and

700
00:35:18,719 --> 00:35:20,799
Speaker 1: putting through the table and if and if you lose

701
00:35:21,040 --> 00:35:24,600
Speaker 1: too much then that's it. Or you like a billionaire

702
00:35:24,640 --> 00:35:26,680
Speaker 1: who are like let a ride, I don't care. I

703
00:35:26,760 --> 00:35:28,440
Speaker 1: got a billion dollar company. I can do those things.

704
00:35:28,520 --> 00:35:31,200
Speaker 1: So yeah, it's just it comes down to you and

705
00:35:31,280 --> 00:35:32,919
Speaker 1: what you want to do. And that's why I say

706
00:35:33,840 --> 00:35:36,560
Speaker 1: nobody ever want broke taking profits. Take a little profits

707
00:35:36,600 --> 00:35:39,600
Speaker 1: on along the way, you'll be all right. And I

708
00:35:39,719 --> 00:35:43,279
Speaker 1: think that's such that's so relevant now when you know

709
00:35:43,520 --> 00:35:46,920
Speaker 1: as you as you alluded too early. You know, mortgages

710
00:35:46,960 --> 00:35:49,359
Speaker 1: are going up, but just cut the cost of living

711
00:35:49,760 --> 00:35:52,160
Speaker 1: everywhere is going up. You know, there are bills to

712
00:35:52,200 --> 00:35:54,759
Speaker 1: be paid and they're getting harder and harder to pay.

713
00:35:54,960 --> 00:35:58,480
Speaker 1: And yeah, I think it's so important to consider, you know,

714
00:35:58,600 --> 00:36:02,160
Speaker 1: your own individual secumstances. It's like, yes, it would be

715
00:36:02,280 --> 00:36:04,840
Speaker 1: great if you could hold on to this, to you know,

716
00:36:05,000 --> 00:36:07,680
Speaker 1: to your bitcoin, to your you know, to your ethereum,

717
00:36:07,760 --> 00:36:09,920
Speaker 1: to your stocks or whatever. It would be great if

718
00:36:09,960 --> 00:36:12,760
Speaker 1: you could hold on to that until you know, prices

719
00:36:12,800 --> 00:36:15,560
Speaker 1: go up again. But if if you've got to pay

720
00:36:15,600 --> 00:36:18,080
Speaker 1: a bill, if you've got to make your mortgage payment,

721
00:36:18,239 --> 00:36:21,839
Speaker 1: then you know, perhaps perhaps now is the time to sell.

722
00:36:22,080 --> 00:36:25,799
Speaker 1: If if if there's no other way to make that payment. Yeah,

723
00:36:25,840 --> 00:36:27,480
Speaker 1: and not only that, but think about this way, like

724
00:36:27,560 --> 00:36:30,200
Speaker 1: how many people have been diamond handing for and it

725
00:36:31,239 --> 00:36:33,200
Speaker 1: is less stress if you have just extra cash in

726
00:36:33,200 --> 00:36:34,680
Speaker 1: the side, and you're like, I don't really care, right,

727
00:36:35,440 --> 00:36:39,640
Speaker 1: but if your if your job as an investor is

728
00:36:39,719 --> 00:36:43,640
Speaker 1: to accumulate wealth. Well, we know that these cycles come

729
00:36:43,719 --> 00:36:46,920
Speaker 1: in come out right, and we know that there are

730
00:36:47,400 --> 00:36:49,600
Speaker 1: inevitable crashes, and we see that there's a recession on

731
00:36:49,640 --> 00:36:53,160
Speaker 1: the horizon. So I'm gonna ask everybody here listening, if

732
00:36:53,200 --> 00:36:55,200
Speaker 1: you have been in this crypto space for quite some time,

733
00:36:55,360 --> 00:36:57,319
Speaker 1: did you sell as much as you wanted to sell

734
00:36:57,600 --> 00:36:58,879
Speaker 1: or do you think that and maybe at some point

735
00:36:58,920 --> 00:37:01,160
Speaker 1: you should have sold a little more, because now we're

736
00:37:01,200 --> 00:37:04,160
Speaker 1: in this bear market, we're below a trillion dollars, and

737
00:37:04,239 --> 00:37:07,080
Speaker 1: we know that there's a lot of great buying opportunities

738
00:37:07,360 --> 00:37:09,960
Speaker 1: right now and coming up in the next twelve, eighteen

739
00:37:10,000 --> 00:37:13,440
Speaker 1: and twenty four months. Maybe I'm not saying that this

740
00:37:13,600 --> 00:37:15,320
Speaker 1: is wrong or right. Maybe it will be nice to

741
00:37:15,400 --> 00:37:17,719
Speaker 1: have the dry powder and cash on the side to

742
00:37:17,800 --> 00:37:20,480
Speaker 1: going Okay, first of all, I can breathe, and second

743
00:37:20,520 --> 00:37:22,439
Speaker 1: of all, if these opportunities come up, I am ready

744
00:37:22,480 --> 00:37:25,200
Speaker 1: to strike because I have enough in the background and

745
00:37:25,239 --> 00:37:26,880
Speaker 1: I can do the things I want to do. So

746
00:37:27,160 --> 00:37:28,560
Speaker 1: I think that that's the bigger question you have to

747
00:37:28,640 --> 00:37:32,000
Speaker 1: think about. And hopefully when people are listening to this now,

748
00:37:32,200 --> 00:37:34,439
Speaker 1: maybe in a bull run, they think to myself, wow,

749
00:37:34,480 --> 00:37:36,960
Speaker 1: maybe it's a good idea to think about selling at

750
00:37:37,000 --> 00:37:42,360
Speaker 1: some point, maybe a percentage absolutely absolutely whatst people digest

751
00:37:42,480 --> 00:37:45,360
Speaker 1: that we're going to take a very quick break, but

752
00:37:45,440 --> 00:38:03,400
Speaker 1: we'll be back in just a moment. Welcome back everyone.

753
00:38:03,800 --> 00:38:06,920
Speaker 1: Just before the break, Rob, you were talking, Yeah, you

754
00:38:06,960 --> 00:38:09,520
Speaker 1: were talking about this, I guess the importance of the

755
00:38:09,640 --> 00:38:12,840
Speaker 1: importance of just sometimes sometimes just taking profits, you know,

756
00:38:13,000 --> 00:38:15,239
Speaker 1: kind of moving on from this this idea of kind

757
00:38:15,280 --> 00:38:20,160
Speaker 1: of diamond handing until quite possibly the end of time. Yeah,

758
00:38:20,200 --> 00:38:23,120
Speaker 1: what's what sort of what what kind of advice can

759
00:38:23,160 --> 00:38:25,520
Speaker 1: you can you give people on that, you know, especially

760
00:38:25,719 --> 00:38:29,680
Speaker 1: especially given your kind of your long experience. Well, the

761
00:38:29,760 --> 00:38:32,920
Speaker 1: first experience is this is that it's it's important to

762
00:38:32,960 --> 00:38:35,080
Speaker 1: take profits along the way perfect you know, at some

763
00:38:35,280 --> 00:38:37,719
Speaker 1: point I should say so, I know people will say,

764
00:38:37,719 --> 00:38:39,959
Speaker 1: well when do I take profits? When's a good when's

765
00:38:39,960 --> 00:38:42,080
Speaker 1: a good time to take profits? And this all depends

766
00:38:42,200 --> 00:38:44,520
Speaker 1: on really what it comes down to is what kind

767
00:38:44,520 --> 00:38:48,319
Speaker 1: of you know trader that you actually are, and if

768
00:38:48,360 --> 00:38:51,480
Speaker 1: you are, you know, what's your time horizon. So there's

769
00:38:51,760 --> 00:38:55,920
Speaker 1: there's different types of traders, and there's there's technical analysis traders,

770
00:38:56,040 --> 00:38:58,839
Speaker 1: and they're all over YouTube. You can find much better

771
00:38:58,920 --> 00:39:01,320
Speaker 1: ones than me. I'm actually quite awful at TA. But

772
00:39:01,480 --> 00:39:06,680
Speaker 1: you've got TA, you got FA, you got fundamental analysis,

773
00:39:07,080 --> 00:39:08,759
Speaker 1: or people take a look at well, you know, like

774
00:39:09,760 --> 00:39:11,400
Speaker 1: what does the product do? And I always say like

775
00:39:11,560 --> 00:39:13,800
Speaker 1: like what's the cut, what's the community? How big is that?

776
00:39:14,000 --> 00:39:15,880
Speaker 1: What is the utility? What does it do? What is

777
00:39:15,920 --> 00:39:19,279
Speaker 1: a team behind it? What is the tokenomics? Or and

778
00:39:19,320 --> 00:39:21,200
Speaker 1: if you're into stocks, of course, you take a look

779
00:39:21,200 --> 00:39:24,080
Speaker 1: at earnings like what warm Buffett does, and you take

780
00:39:24,080 --> 00:39:28,320
Speaker 1: a look at sentiment analysis like what is the the

781
00:39:28,440 --> 00:39:31,520
Speaker 1: greed and fear index? What kind of sentiment is positive

782
00:39:31,560 --> 00:39:33,120
Speaker 1: or negative? And kind of go from all those things.

783
00:39:33,200 --> 00:39:35,840
Speaker 1: But the big thing, though, I think, is is time horizon.

784
00:39:35,920 --> 00:39:38,319
Speaker 1: What kind of trader? Are you a scalper and you're

785
00:39:38,360 --> 00:39:40,600
Speaker 1: like you sit around for like seconds and then you

786
00:39:40,680 --> 00:39:43,239
Speaker 1: start trading all day long or a day trader, or

787
00:39:43,320 --> 00:39:46,120
Speaker 1: you can get things done in like hours to today's

788
00:39:46,239 --> 00:39:50,720
Speaker 1: a swing position or a swing for again days two weeks,

789
00:39:50,800 --> 00:39:53,600
Speaker 1: a position trader months or if you're somebody like me

790
00:39:53,760 --> 00:39:56,920
Speaker 1: who waits like as far as like cycles, I kind

791
00:39:56,960 --> 00:39:58,840
Speaker 1: of oscillate between a position and a cycle where I

792
00:39:58,920 --> 00:40:03,319
Speaker 1: wait like weeks to months, sometimes even years to trade out,

793
00:40:03,400 --> 00:40:07,440
Speaker 1: because you have to understand it all depends on what

794
00:40:07,520 --> 00:40:09,280
Speaker 1: you want to do. Do you want to sit around

795
00:40:09,320 --> 00:40:11,560
Speaker 1: and look at a bunch of charts all day and

796
00:40:11,800 --> 00:40:13,480
Speaker 1: just kind of get in and out. You can do that,

797
00:40:13,920 --> 00:40:15,839
Speaker 1: It's just not my thing. I just got more things

798
00:40:15,920 --> 00:40:18,719
Speaker 1: going on. Or if you just say, okay, here's here's

799
00:40:18,760 --> 00:40:20,640
Speaker 1: a basic way you can do it, and this is

800
00:40:20,719 --> 00:40:24,000
Speaker 1: no financial advice. This is just the basics of basics.

801
00:40:24,040 --> 00:40:26,240
Speaker 1: I would say, let's say you put in a thousand

802
00:40:26,239 --> 00:40:29,560
Speaker 1: dollars into bitcoin, and bitcoin is at twenty thousand, and

803
00:40:29,640 --> 00:40:31,960
Speaker 1: then it goes up to forty thousand. Now that a

804
00:40:32,000 --> 00:40:35,200
Speaker 1: thousand dollars is now worth two thousand dollars, Maybe maybe

805
00:40:35,960 --> 00:40:38,840
Speaker 1: you take out eleven hundred dollars from that position and go, okay,

806
00:40:38,840 --> 00:40:41,200
Speaker 1: I'm and take profits which is my initial investment plus

807
00:40:41,239 --> 00:40:43,600
Speaker 1: one hundred bucks and other nine hundred dollars ride and

808
00:40:43,640 --> 00:40:45,839
Speaker 1: I don't really care what happens. That's just that that's

809
00:40:45,880 --> 00:40:49,680
Speaker 1: just one thing that you can do or like. For me,

810
00:40:50,920 --> 00:40:52,800
Speaker 1: I take a look at There's a couple of different

811
00:40:52,840 --> 00:40:55,560
Speaker 1: things I look at because this is only specific to

812
00:40:55,640 --> 00:40:59,400
Speaker 1: crypto digital assets, stocks and the way that that market

813
00:40:59,560 --> 00:41:02,280
Speaker 1: moves is different. It's not so much of a speculative asset.

814
00:41:02,320 --> 00:41:05,120
Speaker 1: There's some actual real world things that are going on

815
00:41:05,280 --> 00:41:07,800
Speaker 1: as far as like an Apple, a Microsoft at Tesla

816
00:41:08,120 --> 00:41:11,200
Speaker 1: and their shares. But I remember it's speculative, so I

817
00:41:11,280 --> 00:41:14,000
Speaker 1: take a look at things yet to understand that usually

818
00:41:14,320 --> 00:41:18,680
Speaker 1: not all the time, but bitcoin moves first. Bitcoin starts

819
00:41:18,719 --> 00:41:22,560
Speaker 1: to rally, altcoins rally behind that. People sell their position

820
00:41:22,719 --> 00:41:25,280
Speaker 1: in Bitcoin a little bit to go into alts because

821
00:41:25,320 --> 00:41:28,160
Speaker 1: there is it's higher risk, for there's higher return. They

822
00:41:28,320 --> 00:41:32,000
Speaker 1: ride those those positions up until they decide, okay, I'm

823
00:41:32,000 --> 00:41:33,919
Speaker 1: gonna take my profits here. They get out of al

824
00:41:34,320 --> 00:41:37,479
Speaker 1: Alts fall, Bitcoin's fall, and it kind of just goes again.

825
00:41:38,000 --> 00:41:40,239
Speaker 1: So for me, what I take a look at is

826
00:41:40,480 --> 00:41:42,319
Speaker 1: and we did a video on this couple weeks ago,

827
00:41:42,960 --> 00:41:45,879
Speaker 1: which is there's a great website it's called look into

828
00:41:46,000 --> 00:41:48,960
Speaker 1: bitcoin dot com. It's great because it's free, one hundred

829
00:41:48,960 --> 00:41:53,520
Speaker 1: percent free. It's got high quality charts that you can

830
00:41:53,600 --> 00:41:55,439
Speaker 1: take a look at. And the first thing I'm gonna

831
00:41:55,440 --> 00:41:58,520
Speaker 1: look at is there's this thing called picycle top, and

832
00:41:58,600 --> 00:42:00,880
Speaker 1: the picycle top but it does it takes the one

833
00:42:00,960 --> 00:42:03,200
Speaker 1: hundred eleven day moving average as it crosses over the

834
00:42:03,200 --> 00:42:05,520
Speaker 1: three hundred day moving average times two. I know it

835
00:42:05,600 --> 00:42:07,880
Speaker 1: sounds complex, but it makes it super simple. Because I

836
00:42:07,960 --> 00:42:10,000
Speaker 1: like pictures because I'm not that smart, and I just

837
00:42:10,160 --> 00:42:13,120
Speaker 1: like how how the colors are? The colors are what

838
00:42:13,200 --> 00:42:15,600
Speaker 1: we'll tell you, Like, look up here is in the

839
00:42:15,680 --> 00:42:18,600
Speaker 1: red meaning it's it's pretty much gonna it's it's heating up.

840
00:42:18,920 --> 00:42:20,920
Speaker 1: Maybe it's a good time to take some profits. Or

841
00:42:20,960 --> 00:42:24,960
Speaker 1: it goes down to the green and that means that's

842
00:42:25,160 --> 00:42:27,520
Speaker 1: it's cooling off. In the blue section, I should say

843
00:42:27,960 --> 00:42:30,680
Speaker 1: where it's cooling off and maybe it's time to accumulate there.

844
00:42:30,760 --> 00:42:33,400
Speaker 1: And there's a big white swath. And what's crazy about

845
00:42:33,680 --> 00:42:37,640
Speaker 1: the picycle top? For example, it was createing in twenty nineteen,

846
00:42:38,120 --> 00:42:41,120
Speaker 1: it took a retrospective look back, and it called the tops.

847
00:42:41,160 --> 00:42:44,239
Speaker 1: In twenty thirteen, it's called the top almost perfectly. In

848
00:42:44,280 --> 00:42:48,200
Speaker 1: twenty seventeen, and in twenty twenty one it called one

849
00:42:48,280 --> 00:42:51,200
Speaker 1: of the tops. When bitcoin was at sixty K, you know,

850
00:42:51,320 --> 00:42:55,399
Speaker 1: on April eleventh, twenty one. It missed the next top,

851
00:42:55,480 --> 00:42:57,560
Speaker 1: which was in November twenty twenty one when it went

852
00:42:57,680 --> 00:43:00,160
Speaker 1: from sixty to sixty eight K. But here's the thing

853
00:43:00,760 --> 00:43:02,239
Speaker 1: for me, when I look at these things, I'm like,

854
00:43:02,360 --> 00:43:04,520
Speaker 1: I don't I'm never going to hit the top. I'm

855
00:43:04,560 --> 00:43:06,480
Speaker 1: not that smart, I'm not that good. But if I

856
00:43:06,520 --> 00:43:08,880
Speaker 1: get between sixteen eighty percent of the tops and I

857
00:43:08,960 --> 00:43:11,120
Speaker 1: can buy between sixty eight percent of the bottoms, I

858
00:43:11,239 --> 00:43:14,960
Speaker 1: hit those those numbers. Overall, I'll be a much happier person.

859
00:43:15,120 --> 00:43:17,080
Speaker 1: So we took a look at the picycle top. There's

860
00:43:17,080 --> 00:43:21,640
Speaker 1: another one called the MVRVZ score, and that'll just take

861
00:43:21,680 --> 00:43:25,800
Speaker 1: a look at the market value versus realized value because

862
00:43:25,800 --> 00:43:28,200
Speaker 1: things get overheated this and what I do. They take

863
00:43:28,239 --> 00:43:29,520
Speaker 1: a look at these charts and just to kind of

864
00:43:29,600 --> 00:43:31,839
Speaker 1: verify they're not all going to line up. I take

865
00:43:31,880 --> 00:43:37,320
Speaker 1: a look at that that the nupl and was the

866
00:43:37,400 --> 00:43:43,200
Speaker 1: other one, not stock the flow Bitcoin Rainbow Price Arnicator,

867
00:43:43,320 --> 00:43:46,239
Speaker 1: not really although and of course there's one called the

868
00:43:46,360 --> 00:43:49,719
Speaker 1: Pwell multiple, which is pretty important pul e l L

869
00:43:50,200 --> 00:43:52,239
Speaker 1: because what it does it looks at the supply side

870
00:43:52,280 --> 00:43:56,799
Speaker 1: of bitcoin's economy, all the different bitcoin miners, because when

871
00:43:56,840 --> 00:43:59,440
Speaker 1: they start to sell off, then it might be a

872
00:43:59,480 --> 00:44:01,239
Speaker 1: good idea for you to start to sell off, and

873
00:44:01,280 --> 00:44:04,320
Speaker 1: when they're holding pretty high, maybe it's a good idea

874
00:44:04,520 --> 00:44:07,520
Speaker 1: for you to do the same thing. So you take

875
00:44:07,560 --> 00:44:10,200
Speaker 1: a look at all those those four five charts, run

876
00:44:10,280 --> 00:44:12,200
Speaker 1: them together and go, this is where I think things

877
00:44:12,239 --> 00:44:15,000
Speaker 1: are going, and then what's and then just to give

878
00:44:15,040 --> 00:44:19,120
Speaker 1: Ben a plug from into the cryptoverse that only takes

879
00:44:19,120 --> 00:44:21,880
Speaker 1: a look at Bitcoin, But what about the alts Because

880
00:44:22,160 --> 00:44:24,040
Speaker 1: if you take a look at the one of the

881
00:44:24,160 --> 00:44:28,359
Speaker 1: highs for bitcoin April eleventh, Etherium is only a two

882
00:44:28,400 --> 00:44:31,600
Speaker 1: thousand dollars, Cardono was only at a dollar twenty dollars thirty,

883
00:44:32,480 --> 00:44:34,920
Speaker 1: chain Link was was far far below that. Lightcoin is

884
00:44:34,920 --> 00:44:37,880
Speaker 1: actually pretty close. So again, if it starts with bitcoin

885
00:44:38,000 --> 00:44:39,480
Speaker 1: and then it goes into the alt coins, what if

886
00:44:39,520 --> 00:44:42,920
Speaker 1: I do, well, you can take those same charts that

887
00:44:43,000 --> 00:44:45,800
Speaker 1: are in look into bitcoin, go over to Ben's website,

888
00:44:46,239 --> 00:44:48,680
Speaker 1: into the cryptoverse dot com, and you can do a

889
00:44:48,760 --> 00:44:52,279
Speaker 1: picycle top for Ethereum, you can do a picycle top

890
00:44:52,360 --> 00:44:56,680
Speaker 1: for chain Link, Cardono, Avalanche, all those things and just go, oh, well,

891
00:44:56,800 --> 00:44:59,239
Speaker 1: this is where things are going. You won't time the top,

892
00:44:59,360 --> 00:45:00,759
Speaker 1: but it's a good going to take a look at

893
00:45:00,760 --> 00:45:02,440
Speaker 1: that as things go up and go, this is the

894
00:45:02,680 --> 00:45:05,800
Speaker 1: this is the problems I'm going to take again, nobody

895
00:45:05,800 --> 00:45:07,919
Speaker 1: ever want broth taken profits. You might cry a little

896
00:45:07,960 --> 00:45:10,360
Speaker 1: bit because you're like, oh, I took it at sixty thousand.

897
00:45:10,480 --> 00:45:12,720
Speaker 1: Bit one went to sixty nine thousand and this nine thousand.

898
00:45:13,000 --> 00:45:14,920
Speaker 1: It's okay, you're gonna be all right as long as

899
00:45:14,920 --> 00:45:17,520
Speaker 1: you don't do what I did, which in twenty seventeen

900
00:45:17,719 --> 00:45:19,440
Speaker 1: write it all up and then all the way back

901
00:45:19,480 --> 00:45:21,919
Speaker 1: down and be a bag holder for two or three years.

902
00:45:22,760 --> 00:45:25,320
Speaker 1: There's a I think there's there's a real sense. It's

903
00:45:25,440 --> 00:45:27,640
Speaker 1: it's interesting, you know what you say about that that

904
00:45:27,880 --> 00:45:31,360
Speaker 1: that there's you know, there's that that need that people

905
00:45:31,480 --> 00:45:33,879
Speaker 1: feel to to to try and to try and time

906
00:45:33,960 --> 00:45:37,000
Speaker 1: the top perfectly. And as you say, like no one

907
00:45:37,080 --> 00:45:39,600
Speaker 1: does it. It's it's almost impossible, and if anyone does

908
00:45:39,680 --> 00:45:43,000
Speaker 1: do it, it's more often than not luck. But I

909
00:45:43,160 --> 00:45:46,759
Speaker 1: think trading and investing there tends to there tends to

910
00:45:46,840 --> 00:45:49,719
Speaker 1: be a kind of macho element to it. Sometimes I

911
00:45:49,800 --> 00:45:52,680
Speaker 1: feel that that says, oh, you know you. And again

912
00:45:52,760 --> 00:45:56,680
Speaker 1: this ties into this ties into the concept of diamond hands,

913
00:45:56,760 --> 00:45:59,600
Speaker 1: doesn't it. It's like you somehow have to be a

914
00:45:59,719 --> 00:46:02,080
Speaker 1: hard man about it. You have to be you have

915
00:46:02,200 --> 00:46:04,719
Speaker 1: to be tough as nails. It's like, no, you have

916
00:46:04,840 --> 00:46:06,680
Speaker 1: to be. You have to be smart, you have to

917
00:46:06,760 --> 00:46:10,480
Speaker 1: get out. It's like I remember someone saying the best way,

918
00:46:10,800 --> 00:46:13,640
Speaker 1: the best way to win a fight, you know, the

919
00:46:13,680 --> 00:46:16,080
Speaker 1: best way to survive a fight is to not get

920
00:46:16,160 --> 00:46:19,680
Speaker 1: into a fight in the first place. And it always

921
00:46:19,760 --> 00:46:21,560
Speaker 1: kind of it always kind of stuck with me like that.

922
00:46:21,680 --> 00:46:24,480
Speaker 1: It's like, yeah, you know, the people who do the

923
00:46:24,600 --> 00:46:27,120
Speaker 1: people who do well are the people who cross the

924
00:46:27,200 --> 00:46:29,879
Speaker 1: street and avoid trouble. You know, the people who take

925
00:46:30,000 --> 00:46:36,200
Speaker 1: profits early and and accept that they cannot time the top. Yeah,

926
00:46:36,239 --> 00:46:37,920
Speaker 1: and then I mean you gotta remember something, is that

927
00:46:38,640 --> 00:46:41,680
Speaker 1: there's always going to be the person on the YouTube,

928
00:46:42,200 --> 00:46:46,160
Speaker 1: TikTok Twitter, Instagram. It's like, I I time it. I

929
00:46:46,280 --> 00:46:47,839
Speaker 1: told you I time to look at this tweet from

930
00:46:47,840 --> 00:46:50,799
Speaker 1: blah blah blah. However, look at all the tweets, look

931
00:46:50,800 --> 00:46:53,439
Speaker 1: at all the posts, because it's amazing how many people

932
00:46:53,480 --> 00:46:56,279
Speaker 1: will say this is the top. And then the month later, okay,

933
00:46:56,320 --> 00:46:58,520
Speaker 1: this is the top. Okay, two months later, okay, this

934
00:46:58,640 --> 00:47:00,719
Speaker 1: is the top. See I told you I got the top.

935
00:47:01,040 --> 00:47:06,520
Speaker 1: And it's the same thing of like the doomsday predictors. Right, well, actually,

936
00:47:06,520 --> 00:47:08,120
Speaker 1: if you did take a look at look back, like

937
00:47:08,680 --> 00:47:10,320
Speaker 1: some people say, you're gonna get You're gonna get in

938
00:47:10,360 --> 00:47:12,720
Speaker 1: a car accident. Okay, it's gonna be a car accident.

939
00:47:12,760 --> 00:47:14,799
Speaker 1: It's gonna be a car accident. I mean, and they

940
00:47:14,840 --> 00:47:16,640
Speaker 1: say that's you for like five years and you're going

941
00:47:16,680 --> 00:47:17,960
Speaker 1: to a car accident. You'll see I told you, I

942
00:47:18,080 --> 00:47:20,440
Speaker 1: told you're gonna a car accident. Well, yes, of course,

943
00:47:20,880 --> 00:47:23,440
Speaker 1: but you just gotta think, did you really tell me

944
00:47:23,560 --> 00:47:25,440
Speaker 1: the exact day now you didn't. That's really what it

945
00:47:25,480 --> 00:47:27,520
Speaker 1: comes down to. What people love to say, I did it,

946
00:47:27,760 --> 00:47:30,520
Speaker 1: I did this whole thing. Maybe I don't know. I'm

947
00:47:30,560 --> 00:47:33,759
Speaker 1: just trying to be safe. Yeah, And I think, you know,

948
00:47:33,920 --> 00:47:36,880
Speaker 1: in the Internet age, in the social media age, we

949
00:47:37,920 --> 00:47:42,439
Speaker 1: so many you know, we're assumed to have just really

950
00:47:42,560 --> 00:47:45,279
Speaker 1: short memories and the tension spans, aren't we It's like, oh,

951
00:47:45,400 --> 00:47:47,160
Speaker 1: you know, we'll only look at the last tweet. We'll

952
00:47:47,239 --> 00:47:50,080
Speaker 1: only look at we'll only watch the last video. And

953
00:47:50,239 --> 00:47:52,680
Speaker 1: that's what so many of these kind of hype merchants

954
00:47:52,760 --> 00:47:55,040
Speaker 1: count on, isn't it. It's like, oh, they'll forget the

955
00:47:55,080 --> 00:47:57,960
Speaker 1: fact that I that I said BTC was going to

956
00:47:58,000 --> 00:48:01,319
Speaker 1: go to two million, you know, just in a couple

957
00:48:01,360 --> 00:48:03,399
Speaker 1: of weeks ago or a few months ago or anything

958
00:48:03,480 --> 00:48:05,320
Speaker 1: like that. But they'll just look at the latest tweet

959
00:48:05,360 --> 00:48:06,799
Speaker 1: and I'll see if I can get it right there,

960
00:48:06,840 --> 00:48:08,800
Speaker 1: and if I don't, I'll just move on, you know,

961
00:48:08,960 --> 00:48:11,960
Speaker 1: And I think get it kind of ties into that

962
00:48:12,080 --> 00:48:15,239
Speaker 1: whole idea, doesn't it of if in doubt zoom out.

963
00:48:15,320 --> 00:48:17,120
Speaker 1: You know, you have to have you have to have

964
00:48:17,239 --> 00:48:20,360
Speaker 1: a longer view. You can't just it. It's so difficult

965
00:48:20,400 --> 00:48:23,560
Speaker 1: to it's it's not worth trying to make decisions in

966
00:48:23,680 --> 00:48:26,359
Speaker 1: the moment. You have to. You have to use all

967
00:48:26,440 --> 00:48:28,440
Speaker 1: the data that you can that you can find and

968
00:48:28,520 --> 00:48:33,160
Speaker 1: the data that you can interpret interpret well. And I

969
00:48:33,239 --> 00:48:36,000
Speaker 1: mean the benefit is the upside is that that data

970
00:48:36,120 --> 00:48:39,000
Speaker 1: is there. It's taking the time to wade through it

971
00:48:39,120 --> 00:48:41,239
Speaker 1: and look at it and try and make I think,

972
00:48:41,960 --> 00:48:46,759
Speaker 1: you know, dispassionate decisions if you like. Yeah, And that's why, well,

973
00:48:46,800 --> 00:48:48,720
Speaker 1: that's why you guys had a great channel guy, because

974
00:48:48,760 --> 00:48:51,080
Speaker 1: like you will do, you will do a deep dive

975
00:48:51,160 --> 00:48:52,920
Speaker 1: into a project, and then you'll follow up at the

976
00:48:52,960 --> 00:48:55,239
Speaker 1: project and say did I do this right? And then

977
00:48:55,239 --> 00:48:56,960
Speaker 1: you look at and go, okay, we missed this part.

978
00:48:57,080 --> 00:48:58,800
Speaker 1: We've got this part. Here's the pros and cons. I

979
00:48:58,800 --> 00:49:01,600
Speaker 1: actually stole that from you on my on my channel

980
00:49:01,640 --> 00:49:03,960
Speaker 1: for the pros and cards, which makes sense. And then

981
00:49:04,239 --> 00:49:07,440
Speaker 1: you constantly update so people can't go, oh, okay, because

982
00:49:07,520 --> 00:49:11,640
Speaker 1: a lot of times you'll see a project or a

983
00:49:11,719 --> 00:49:14,279
Speaker 1: prediction and one really updates it and says and I

984
00:49:14,360 --> 00:49:16,120
Speaker 1: also going to do is just go, you know, I

985
00:49:16,200 --> 00:49:19,239
Speaker 1: messed that up, that that wasn't right, and I here's

986
00:49:19,320 --> 00:49:21,799
Speaker 1: here's the correction, and we go from there. That's it. Yeah,

987
00:49:22,320 --> 00:49:24,520
Speaker 1: but it's it's hard to say that it is, but

988
00:49:24,840 --> 00:49:27,560
Speaker 1: you know, it's so it's so important and and you know,

989
00:49:27,680 --> 00:49:30,200
Speaker 1: it's a thing that you've got to you've got to accept,

990
00:49:30,239 --> 00:49:31,920
Speaker 1: and it's it's a thing that it's a good thing

991
00:49:32,000 --> 00:49:33,920
Speaker 1: for me to accept as well. And sometimes it does

992
00:49:34,080 --> 00:49:36,680
Speaker 1: feel now, you know, you go, do you know what

993
00:49:36,880 --> 00:49:40,000
Speaker 1: I was? I was wrong about that or I overstated

994
00:49:40,360 --> 00:49:44,840
Speaker 1: I overstated this positive, or I understated this negative. But

995
00:49:45,200 --> 00:49:48,040
Speaker 1: I think it reinforces in the viewer, or at least

996
00:49:48,080 --> 00:49:49,640
Speaker 1: I hope it does. You know, this sense that this

997
00:49:49,800 --> 00:49:53,080
Speaker 1: is a constant learning curve. You know, I feel I

998
00:49:53,280 --> 00:49:56,239
Speaker 1: feel like I know a lot about crypto, but you know,

999
00:49:56,680 --> 00:49:58,680
Speaker 1: I like to think that I'm the first to admit

1000
00:49:58,840 --> 00:50:00,880
Speaker 1: that there's always more or I can know you know,

1001
00:50:00,960 --> 00:50:04,200
Speaker 1: it's a constant, a constant process. You can never know

1002
00:50:04,400 --> 00:50:08,960
Speaker 1: it all and is it was it Aristotle who said,

1003
00:50:09,080 --> 00:50:11,800
Speaker 1: you know that the first step on the road to

1004
00:50:11,840 --> 00:50:14,360
Speaker 1: wisdom is admitting how little it is that you actually know.

1005
00:50:14,920 --> 00:50:17,720
Speaker 1: I may be I may be getting my philosophers mixed

1006
00:50:17,800 --> 00:50:20,160
Speaker 1: up there, but that's some you know, that's something that

1007
00:50:20,200 --> 00:50:22,719
Speaker 1: I try to live by. It's it's like there is

1008
00:50:22,840 --> 00:50:26,080
Speaker 1: always something for me to learn, and it's you know,

1009
00:50:26,200 --> 00:50:28,560
Speaker 1: it's it's about going out there and finding it and

1010
00:50:28,640 --> 00:50:30,719
Speaker 1: being open to it. Yeah, And that's why I like

1011
00:50:30,880 --> 00:50:34,279
Speaker 1: in these and this is the time for people in

1012
00:50:34,320 --> 00:50:37,520
Speaker 1: the crypto market that everything's in a bear market, that

1013
00:50:37,680 --> 00:50:41,000
Speaker 1: the noise, the volune gets turned down, so you can

1014
00:50:41,120 --> 00:50:44,840
Speaker 1: do a lot of good education for yourself to figure

1015
00:50:44,880 --> 00:50:49,640
Speaker 1: out what's the best investment strategy, what's the best project,

1016
00:50:50,120 --> 00:50:53,200
Speaker 1: what's the best plan of attack moving forward? Because right

1017
00:50:53,280 --> 00:50:56,600
Speaker 1: now is is probably the most sanest you'll be when

1018
00:50:56,680 --> 00:50:59,239
Speaker 1: things are boring and moving sideways. If you can make

1019
00:50:59,280 --> 00:51:02,440
Speaker 1: a plan now when things are when I said, like

1020
00:51:02,480 --> 00:51:04,600
Speaker 1: I said, the volume is down, if you follow that

1021
00:51:04,719 --> 00:51:07,800
Speaker 1: plan when things get crazy, because it's gonna get crazy everybody.

1022
00:51:08,120 --> 00:51:11,600
Speaker 1: You're gonna see these markets rip at some point and go,

1023
00:51:11,719 --> 00:51:14,280
Speaker 1: you know what, I know, I'm up five hundred percent,

1024
00:51:14,400 --> 00:51:18,000
Speaker 1: but I think it's gonna go a thousand percent. I

1025
00:51:18,080 --> 00:51:20,120
Speaker 1: think it's gonna go two thousand percent. And that may

1026
00:51:20,160 --> 00:51:22,880
Speaker 1: be true, but you did a plan before, and you're

1027
00:51:22,920 --> 00:51:24,800
Speaker 1: gonna be a lot happy you're following that plan in

1028
00:51:24,880 --> 00:51:27,600
Speaker 1: the most saneous moments. Then when it gets insane and

1029
00:51:27,680 --> 00:51:32,200
Speaker 1: those days are coming. Yeah, absolutely absolutely on that good

1030
00:51:32,440 --> 00:51:35,399
Speaker 1: on that ray of sunshine. Should we take a quick break.

1031
00:51:36,120 --> 00:51:54,120
Speaker 1: Let's take a break. Welcome back everyone, two Part three.

1032
00:51:54,400 --> 00:51:56,799
Speaker 1: Before we I wanted to talk in a minute Rob

1033
00:51:57,200 --> 00:51:59,919
Speaker 1: about the we were touching on this just before the break,

1034
00:52:00,000 --> 00:52:01,439
Speaker 1: and I want to get back to that. In a moment,

1035
00:52:01,520 --> 00:52:03,759
Speaker 1: this idea, you know, was starting to kind of lean in,

1036
00:52:03,880 --> 00:52:08,040
Speaker 1: I think to the idea that sometimes, you know, when

1037
00:52:08,080 --> 00:52:11,560
Speaker 1: you want to do something, doing nothing is perhaps the

1038
00:52:11,640 --> 00:52:13,680
Speaker 1: best strategy. But before we get to that, I just

1039
00:52:13,760 --> 00:52:15,360
Speaker 1: want as well to kind of go back to what

1040
00:52:15,480 --> 00:52:18,640
Speaker 1: you were you were talking about with with trading, and you,

1041
00:52:18,840 --> 00:52:21,520
Speaker 1: I must say, you know, you as you have got

1042
00:52:21,600 --> 00:52:26,320
Speaker 1: such a broader perspective on trading than I have, you know,

1043
00:52:26,680 --> 00:52:30,080
Speaker 1: trading for me has I've you know, one of the

1044
00:52:30,160 --> 00:52:32,279
Speaker 1: great things, I think one of the great steps I

1045
00:52:32,480 --> 00:52:35,480
Speaker 1: kind of made in the last in the last couple

1046
00:52:35,520 --> 00:52:37,440
Speaker 1: of years is kind of admitting that I am not

1047
00:52:37,760 --> 00:52:41,719
Speaker 1: really a trader. You know. I'm good at kind of

1048
00:52:42,160 --> 00:52:46,080
Speaker 1: digging into projects and looking at the big picture and

1049
00:52:46,520 --> 00:52:49,200
Speaker 1: you know, making what I think are informed decisions about

1050
00:52:49,200 --> 00:52:52,600
Speaker 1: buying and selling. But just this idea of trading, I

1051
00:52:52,719 --> 00:52:56,800
Speaker 1: think is, you know, especially especially on short time frames

1052
00:52:57,760 --> 00:53:00,640
Speaker 1: or shorter time frames, is just is just beyond me.

1053
00:53:00,760 --> 00:53:04,560
Speaker 1: It's just not my strength. So yeah, I think I

1054
00:53:04,640 --> 00:53:08,680
Speaker 1: think it's really important for people to accept their limitations

1055
00:53:08,760 --> 00:53:12,000
Speaker 1: as trades, don't you think I think, yeah, I mean,

1056
00:53:12,640 --> 00:53:15,160
Speaker 1: but it's it's hard to accept the limitations when you

1057
00:53:15,280 --> 00:53:18,880
Speaker 1: see and it's a constant bombardment of people saying how

1058
00:53:18,920 --> 00:53:22,000
Speaker 1: successful they are, whether they are or not. I can't,

1059
00:53:22,320 --> 00:53:24,440
Speaker 1: I can't speak for anybody. But when you take a

1060
00:53:24,480 --> 00:53:27,440
Speaker 1: look at and go, like you allude to this just

1061
00:53:27,520 --> 00:53:29,960
Speaker 1: a little bit ago, like why can't I make those

1062
00:53:30,000 --> 00:53:33,040
Speaker 1: millions of dollars when I see this other person who's

1063
00:53:33,080 --> 00:53:35,759
Speaker 1: talking about it and he or she is making million

1064
00:53:35,800 --> 00:53:38,200
Speaker 1: of dollars, and only makes sense that I could. First

1065
00:53:38,239 --> 00:53:40,360
Speaker 1: of all, I think you have to understand that that

1066
00:53:40,480 --> 00:53:43,319
Speaker 1: some of those people are not truthfully honest about where

1067
00:53:43,320 --> 00:53:45,640
Speaker 1: it is. And the second thing is is that you

1068
00:53:45,719 --> 00:53:48,239
Speaker 1: have to understand that sometimes those people that say that

1069
00:53:48,320 --> 00:53:50,760
Speaker 1: they made that on trading, they didn't make it on trading.

1070
00:53:51,120 --> 00:53:52,960
Speaker 1: They did a lot of things. They thought they did

1071
00:53:53,040 --> 00:53:55,239
Speaker 1: some dirty things, whether that be a pump and dump

1072
00:53:55,760 --> 00:53:58,360
Speaker 1: or some other type of business, you don't know. So

1073
00:53:58,560 --> 00:54:00,560
Speaker 1: when they when they flash something out here, you have

1074
00:54:00,600 --> 00:54:03,320
Speaker 1: to understand, maybe that's not the real truth. And I

1075
00:54:03,440 --> 00:54:05,560
Speaker 1: know it's hard. It's it's easy to say, I'm like, well,

1076
00:54:05,560 --> 00:54:08,080
Speaker 1: that makes sense, but then when you see it, you're like, hey, hey,

1077
00:54:08,280 --> 00:54:10,080
Speaker 1: that guy's got it. Why can't I get it? So

1078
00:54:10,320 --> 00:54:13,080
Speaker 1: just accept the fact that again, like you're gonna make

1079
00:54:13,160 --> 00:54:15,719
Speaker 1: mistakes and things are going to work out. You're never

1080
00:54:15,840 --> 00:54:18,120
Speaker 1: going to sell the absolute top. You're never going to

1081
00:54:18,200 --> 00:54:21,120
Speaker 1: sell the absolute bottom. But the real question is what

1082
00:54:21,320 --> 00:54:24,520
Speaker 1: is most important for you and you're a specific situation.

1083
00:54:25,080 --> 00:54:28,759
Speaker 1: Is it to gain ten percent on whatever that you're

1084
00:54:28,760 --> 00:54:31,800
Speaker 1: invested into on top of your regular salary or you

1085
00:54:31,960 --> 00:54:34,359
Speaker 1: all the way up to like a micro strategy going

1086
00:54:34,400 --> 00:54:36,840
Speaker 1: well do we make a couple of billion in this

1087
00:54:37,000 --> 00:54:39,000
Speaker 1: quarter or whatever else? It is one hundreds and millions

1088
00:54:39,000 --> 00:54:41,719
Speaker 1: dollars and there's a big wide swath in between, So

1089
00:54:41,920 --> 00:54:45,160
Speaker 1: just save yourself what is important for me and what

1090
00:54:45,320 --> 00:54:47,520
Speaker 1: I want to do, because there's a big difference out

1091
00:54:47,560 --> 00:54:50,880
Speaker 1: there and what and I guess as well. And this

1092
00:54:51,080 --> 00:54:53,440
Speaker 1: is something that I think Krypto has kind of mundied

1093
00:54:53,480 --> 00:54:55,959
Speaker 1: the water zone a bit, because we have seen people

1094
00:54:56,040 --> 00:54:59,200
Speaker 1: who have made insane games, you know, people who have

1095
00:54:59,320 --> 00:55:02,600
Speaker 1: invested perhaps just a couple of hundred dollars or sometimes

1096
00:55:02,640 --> 00:55:07,120
Speaker 1: even less and have become millionaires, multimillionaires are off the

1097
00:55:07,160 --> 00:55:09,640
Speaker 1: back of it, you know. And I think that's that's

1098
00:55:10,160 --> 00:55:12,600
Speaker 1: I think that a sense that kind of still hangs

1099
00:55:12,680 --> 00:55:15,440
Speaker 1: around the crypto market. It's like, this is this is

1100
00:55:15,520 --> 00:55:18,480
Speaker 1: a this is a way to make fast and easy money.

1101
00:55:18,560 --> 00:55:20,399
Speaker 1: And I think I mean, I think, for one thing,

1102
00:55:20,960 --> 00:55:24,040
Speaker 1: those days are were certainly they're they're they're gone at

1103
00:55:24,080 --> 00:55:28,000
Speaker 1: the moment. At the moment, yeah they could you know,

1104
00:55:28,080 --> 00:55:30,680
Speaker 1: they could come back. That those sorts of returns aren't

1105
00:55:30,880 --> 00:55:33,960
Speaker 1: aren't impossible in the future. But I think it's so

1106
00:55:34,200 --> 00:55:37,399
Speaker 1: important to manage expectations. And it's like, you know, it's

1107
00:55:37,480 --> 00:55:41,680
Speaker 1: not about making a million dollars off of a hundred

1108
00:55:41,880 --> 00:55:43,680
Speaker 1: you know, that is that is the that is a

1109
00:55:43,760 --> 00:55:46,560
Speaker 1: moon shot, and not many people pull it off. But

1110
00:55:46,680 --> 00:55:49,520
Speaker 1: if you can make a thousand dollars off that hundred,

1111
00:55:49,600 --> 00:55:51,560
Speaker 1: or even if you can make two hundred dollars off

1112
00:55:51,640 --> 00:55:55,440
Speaker 1: that one hundred dollars, that is that is that is success.

1113
00:55:55,560 --> 00:55:59,520
Speaker 1: That is success by by any sane person's measure. Yeah,

1114
00:55:59,560 --> 00:56:04,440
Speaker 1: and then like I mean, the average returns of the

1115
00:56:04,600 --> 00:56:06,960
Speaker 1: of the of the typical of the SMP five hundred,

1116
00:56:06,960 --> 00:56:09,800
Speaker 1: you looking around eight point seven percent annualized, which is

1117
00:56:09,840 --> 00:56:12,120
Speaker 1: still pretty good and not too bad. Now years ago

1118
00:56:12,280 --> 00:56:15,960
Speaker 1: you do a sixty forty split with stocks and bonds,

1119
00:56:16,160 --> 00:56:18,120
Speaker 1: that's a little bit out the window now. But I

1120
00:56:18,160 --> 00:56:21,600
Speaker 1: want everybody remember this also is that you know, you'll

1121
00:56:22,000 --> 00:56:24,560
Speaker 1: you'll see the post of and here's a prime example,

1122
00:56:25,000 --> 00:56:28,040
Speaker 1: like the dogecoin millionaire seems like a nice guy, and

1123
00:56:28,560 --> 00:56:32,799
Speaker 1: i've you know, I've watched the evolution of what happened there.

1124
00:56:32,880 --> 00:56:36,480
Speaker 1: So apparently he invested one hundred eighty one hundred and

1125
00:56:36,520 --> 00:56:39,480
Speaker 1: eighty thousand dollars into dogecoin when it was pennies in

1126
00:56:39,520 --> 00:56:41,799
Speaker 1: the dollar, right, and it went all the way up

1127
00:56:41,840 --> 00:56:45,239
Speaker 1: to a million and three months a million dollars worth,

1128
00:56:45,360 --> 00:56:47,360
Speaker 1: so he almost ten x a little bit less than

1129
00:56:47,400 --> 00:56:48,960
Speaker 1: ten x, and then went all the way up to

1130
00:56:49,120 --> 00:56:52,759
Speaker 1: three million dollars and can you do that, Well, it's

1131
00:56:52,840 --> 00:56:54,480
Speaker 1: very risky if you have one hundred and that's just

1132
00:56:54,680 --> 00:56:56,399
Speaker 1: like one hundred and eighty thousand. I don't know who's

1133
00:56:56,440 --> 00:56:58,680
Speaker 1: got that laying around, but sure, and it goes all

1134
00:56:58,719 --> 00:57:02,040
Speaker 1: the way up to three million. But and that's what

1135
00:57:02,120 --> 00:57:05,000
Speaker 1: people know, but they don't know this part, and that

1136
00:57:05,200 --> 00:57:08,480
Speaker 1: is that he never sold a dime and he and

1137
00:57:08,600 --> 00:57:10,759
Speaker 1: it went all the way back down. As of three

1138
00:57:10,800 --> 00:57:12,720
Speaker 1: months ago, it was worth three hundred and twenty thousand.

1139
00:57:12,800 --> 00:57:15,719
Speaker 1: That was three months ago, no, four months ago, and

1140
00:57:15,840 --> 00:57:19,080
Speaker 1: now today it's probably around two hundred and ten thousand dollars.

1141
00:57:19,800 --> 00:57:22,000
Speaker 1: So what we just talked about as far as taking profits,

1142
00:57:22,160 --> 00:57:25,600
Speaker 1: make sure you understand what's going on. And you might

1143
00:57:25,720 --> 00:57:27,920
Speaker 1: see this one post of one guy who made a

1144
00:57:27,960 --> 00:57:30,920
Speaker 1: million dollars, But the question is where is he now?

1145
00:57:31,520 --> 00:57:34,080
Speaker 1: And that is a bigger thing to think about. Yeah,

1146
00:57:34,560 --> 00:57:38,560
Speaker 1: and it's I guess you know social media is in particular,

1147
00:57:38,680 --> 00:57:41,479
Speaker 1: it's so it's so two D, isn't it. You only

1148
00:57:41,600 --> 00:57:44,560
Speaker 1: get you only get what's what the what the person

1149
00:57:44,960 --> 00:57:47,760
Speaker 1: is willing to show you and is he alluded to earlier?

1150
00:57:47,840 --> 00:57:50,480
Speaker 1: You know, there's so much, there's so much happening behind

1151
00:57:50,520 --> 00:57:53,400
Speaker 1: the scenes in so many cases, but all we get

1152
00:57:53,560 --> 00:57:56,920
Speaker 1: is two D on the screen, whereas you know, you

1153
00:57:57,160 --> 00:58:01,440
Speaker 1: your own your own perspective on your situation that's in

1154
00:58:01,680 --> 00:58:04,640
Speaker 1: that's in three D, and that is a much is

1155
00:58:04,680 --> 00:58:07,480
Speaker 1: a much clearer picture. So I think, yeah, it's really

1156
00:58:07,640 --> 00:58:10,760
Speaker 1: as you say, it's really important to try and think, well,

1157
00:58:10,840 --> 00:58:13,040
Speaker 1: there's a what's happening in that what's happening in that

1158
00:58:13,120 --> 00:58:15,960
Speaker 1: other dimension that I'm not seeing? You know, is this

1159
00:58:16,400 --> 00:58:18,520
Speaker 1: is this the full story? Because yeah, you know that

1160
00:58:18,640 --> 00:58:21,600
Speaker 1: story illustrates it perfectly, doesn't it. And and I think,

1161
00:58:22,560 --> 00:58:24,760
Speaker 1: as you, yeah, as you said, like this guy invested,

1162
00:58:25,280 --> 00:58:28,880
Speaker 1: who has one hundred and eighty and to invest in

1163
00:58:28,960 --> 00:58:33,000
Speaker 1: a dog coin? I mean that's yeah, yeah, I mean

1164
00:58:34,800 --> 00:58:41,600
Speaker 1: eighteen dollars, not yourself, you go through it, but one

1165
00:58:41,680 --> 00:58:44,240
Speaker 1: hundred and I mean, that's just that's just mind boggling.

1166
00:58:44,280 --> 00:58:47,120
Speaker 1: I mean, and you have to assume you kind of

1167
00:58:47,160 --> 00:58:50,919
Speaker 1: have to just guess that that that the person doing

1168
00:58:51,000 --> 00:58:54,120
Speaker 1: that one hundred and eighty thousand dollars of them presumably

1169
00:58:54,600 --> 00:58:57,560
Speaker 1: isn't that much, and therefore they are not They are

1170
00:58:57,640 --> 00:59:02,080
Speaker 1: not living a regular person's life any stretch of the imagination. No,

1171
00:59:02,400 --> 00:59:05,320
Speaker 1: and you know that's that's more of a of a

1172
00:59:05,440 --> 00:59:08,320
Speaker 1: great story to highlight as opposed to the person was like,

1173
00:59:08,440 --> 00:59:11,280
Speaker 1: you know, I've been investing for twenty years. I just

1174
00:59:11,400 --> 00:59:13,960
Speaker 1: put a little money into it, and as time goes on,

1175
00:59:13,960 --> 00:59:17,280
Speaker 1: I take a little profits and now I have X, Y,

1176
00:59:17,320 --> 00:59:19,760
Speaker 1: and Z. That's a very boring story and no one

1177
00:59:19,840 --> 00:59:22,240
Speaker 1: wants to really get that's not hype. That's not going

1178
00:59:22,280 --> 00:59:25,640
Speaker 1: to sell, that's not going to click. But that's, to me,

1179
00:59:26,360 --> 00:59:28,880
Speaker 1: is one of those ways to grow wealth over time.

1180
00:59:29,040 --> 00:59:31,720
Speaker 1: Not fancial advice, but it seems to work out, okay,

1181
00:59:31,880 --> 00:59:36,280
Speaker 1: over time. Yeah, don't be afraid to be boring. That's right,

1182
00:59:36,440 --> 00:59:41,720
Speaker 1: they'll be afraid of boring. So a lesson I've I've

1183
00:59:41,800 --> 00:59:45,240
Speaker 1: taken to heart all my life apparently. But yeah, and

1184
00:59:45,440 --> 00:59:47,200
Speaker 1: and that kind of leads us in nicely, doesn't it

1185
00:59:47,280 --> 00:59:50,360
Speaker 1: to what we were touching on earlier, This idea of

1186
00:59:51,000 --> 00:59:53,400
Speaker 1: just learning to do nothing. I think, you know, and

1187
00:59:53,520 --> 00:59:56,200
Speaker 1: I think this is is this is a great time,

1188
00:59:56,440 --> 00:59:58,520
Speaker 1: you know, from an investment point of view, I think,

1189
00:59:58,600 --> 01:00:01,120
Speaker 1: I mean, I am. I look at the markets and

1190
01:00:01,200 --> 01:00:04,240
Speaker 1: I think this is this is just a time to

1191
01:00:04,320 --> 01:00:06,640
Speaker 1: sit on the sidelines. This is a time too. As

1192
01:00:06,680 --> 01:00:09,280
Speaker 1: you said earlier, you know, to do to do some digging,

1193
01:00:09,400 --> 01:00:11,640
Speaker 1: to do the research, to do the you know, to

1194
01:00:11,760 --> 01:00:13,320
Speaker 1: do the stuff that is going to stand you in

1195
01:00:13,400 --> 01:00:16,720
Speaker 1: good stead later on. But so many people ask me,

1196
01:00:16,960 --> 01:00:18,600
Speaker 1: you know all the time at the moment, it's like, oh,

1197
01:00:18,640 --> 01:00:20,160
Speaker 1: what are you getting into? At the moment, andy, thing

1198
01:00:20,200 --> 01:00:23,400
Speaker 1: you've got your eye on. It's like, no, I'm just

1199
01:00:23,640 --> 01:00:27,240
Speaker 1: I'm I'm I'm holding back. It's like there's there's that

1200
01:00:27,440 --> 01:00:29,959
Speaker 1: uh I when I look at all the when people

1201
01:00:29,960 --> 01:00:31,280
Speaker 1: say what are you get into? What are you get into?

1202
01:00:31,440 --> 01:00:34,160
Speaker 1: What's going on? You know, what's the next investment? It's

1203
01:00:34,200 --> 01:00:37,760
Speaker 1: like that that that Dave of Chappelle skite where there's

1204
01:00:37,800 --> 01:00:40,040
Speaker 1: a homeless guy's always scratched himself. Hey man, gunya that

1205
01:00:40,120 --> 01:00:42,000
Speaker 1: da da da, Because it seems like it's almost like

1206
01:00:42,080 --> 01:00:45,760
Speaker 1: like an addiction. It's there's three there's three things, and

1207
01:00:45,960 --> 01:00:48,960
Speaker 1: and there's and there's very ability for investing. The easiest

1208
01:00:49,000 --> 01:00:51,760
Speaker 1: by far as to buy. It's easy to buy. It's

1209
01:00:51,800 --> 01:00:54,400
Speaker 1: it's always easy for me to say dolla cross average

1210
01:00:54,440 --> 01:00:56,200
Speaker 1: people will say, by the depth, it's the easiest way,

1211
01:00:56,200 --> 01:00:58,720
Speaker 1: because you think I'm buying, I'm doing something, I'm taking action.

1212
01:00:59,360 --> 01:01:01,480
Speaker 1: The second heart thing to do is selling. You're still

1213
01:01:01,560 --> 01:01:04,760
Speaker 1: taking action, but it's hard to say to yourself, well

1214
01:01:04,840 --> 01:01:06,960
Speaker 1: this could have like I said, and went a five

1215
01:01:07,040 --> 01:01:09,240
Speaker 1: hundred percent, but it could go up ten thousand percent.

1216
01:01:09,480 --> 01:01:11,360
Speaker 1: But I did a plan. I got to sell. And

1217
01:01:11,480 --> 01:01:14,160
Speaker 1: the third and the by far the hardest thing to

1218
01:01:14,240 --> 01:01:15,920
Speaker 1: do is what you just said, guy, is sitting on

1219
01:01:16,000 --> 01:01:18,720
Speaker 1: your hands and waiting and doing nothing because you're not

1220
01:01:18,800 --> 01:01:22,440
Speaker 1: taking action. You're sitting in the sidelines going and it's patience.

1221
01:01:22,920 --> 01:01:25,120
Speaker 1: And in this day and age, when we are sucked

1222
01:01:25,160 --> 01:01:30,440
Speaker 1: into the social media and the phones and the near instantaneous,

1223
01:01:30,680 --> 01:01:34,360
Speaker 1: instantaneous gratification, it's very hard to sit and do nothing,

1224
01:01:34,520 --> 01:01:36,080
Speaker 1: and that I think right now is one of those

1225
01:01:36,120 --> 01:01:41,000
Speaker 1: things to do. And unfortunately, unlike I say, don't do anything.

1226
01:01:41,680 --> 01:01:43,760
Speaker 1: Am I talking about us in the channel as far

1227
01:01:43,840 --> 01:01:47,600
Speaker 1: as dollar cost averaging like for me? And I don't

1228
01:01:47,640 --> 01:01:50,120
Speaker 1: know that that's what comes down to that, that whole

1229
01:01:50,160 --> 01:01:52,800
Speaker 1: thing we talk about where is the money going? You know,

1230
01:01:52,880 --> 01:01:55,000
Speaker 1: we have less than a trillion market cap and all

1231
01:01:55,000 --> 01:01:57,080
Speaker 1: these different trillions dollars we have drug in millar going.

1232
01:01:57,080 --> 01:01:59,000
Speaker 1: It's a ten year time frame. I don't know who's right.

1233
01:01:59,440 --> 01:02:03,480
Speaker 1: So For me, I've scaled back drastically by dollar cost average,

1234
01:02:03,480 --> 01:02:06,080
Speaker 1: and I do very few alt coins. But I still

1235
01:02:06,160 --> 01:02:08,040
Speaker 1: buy a little bit and nibble on the way. But

1236
01:02:08,120 --> 01:02:13,080
Speaker 1: I still think that there's a lower low coming in.

1237
01:02:14,080 --> 01:02:15,760
Speaker 1: I don't know if it's this year or if it's

1238
01:02:15,800 --> 01:02:18,240
Speaker 1: next year. If we take a look at the macro landscape,

1239
01:02:18,480 --> 01:02:21,920
Speaker 1: I mean, rates are going up, we still have the

1240
01:02:22,280 --> 01:02:25,880
Speaker 1: Ukraine War, you got the horrible situation with with energy

1241
01:02:25,960 --> 01:02:29,480
Speaker 1: and energy supply in the UK, the high cost of living,

1242
01:02:29,760 --> 01:02:32,600
Speaker 1: the housing market that we're seeing more as far as

1243
01:02:32,600 --> 01:02:35,120
Speaker 1: supply and less of demand. And that's that means that

1244
01:02:35,720 --> 01:02:38,600
Speaker 1: there's there's problems of brew. So when I look at

1245
01:02:38,640 --> 01:02:42,680
Speaker 1: this thing, I'm like, I can't buy much, but I

1246
01:02:42,800 --> 01:02:45,200
Speaker 1: just because maybe I'm wrong, I nibble just a little bit,

1247
01:02:46,600 --> 01:02:50,000
Speaker 1: I think. And yeah, it's that that that word control.

1248
01:02:50,120 --> 01:02:52,520
Speaker 1: I think that would you know, you feel you're feel

1249
01:02:52,560 --> 01:02:57,000
Speaker 1: in control if you're doing something, and that makes it, Yeah,

1250
01:02:57,000 --> 01:02:58,640
Speaker 1: it makes it so much harder, doesn't it. And I

1251
01:02:58,720 --> 01:03:02,800
Speaker 1: mean my dad talks about because he's kind of amazed that.

1252
01:03:03,120 --> 01:03:05,520
Speaker 1: I mean he's amazed that you can trade crypto twenty

1253
01:03:05,560 --> 01:03:08,680
Speaker 1: four seven for instance, because he you know, when he

1254
01:03:08,880 --> 01:03:11,360
Speaker 1: was when he was kind of getting into investing many

1255
01:03:11,440 --> 01:03:14,440
Speaker 1: many years ago. You know, you couldn't you know, markets closed,

1256
01:03:14,840 --> 01:03:17,640
Speaker 1: you know, the market closed at at three pm or

1257
01:03:17,720 --> 01:03:19,480
Speaker 1: five pm or wherever it was, and that was it.

1258
01:03:19,600 --> 01:03:21,400
Speaker 1: And it was closed over the weekend, if you know,

1259
01:03:21,640 --> 01:03:23,720
Speaker 1: and if you wanted to, you know, if you wanted

1260
01:03:23,720 --> 01:03:26,080
Speaker 1: to invest in stocks, you had to call your broker

1261
01:03:26,160 --> 01:03:27,840
Speaker 1: and all this sort of stuff. And now he looks,

1262
01:03:28,080 --> 01:03:30,920
Speaker 1: you've got twenty four hour, twenty four seven crypto markets,

1263
01:03:30,960 --> 01:03:32,880
Speaker 1: you know, three hundred and sixty five days a year.

1264
01:03:33,440 --> 01:03:36,640
Speaker 1: You've got these platforms, you know that the things like

1265
01:03:36,760 --> 01:03:38,880
Speaker 1: robin Hood and stuff where you can just buy it

1266
01:03:39,160 --> 01:03:42,120
Speaker 1: in your pockets. And it feels like, you know, he

1267
01:03:42,280 --> 01:03:44,360
Speaker 1: was he was looking at one and it's just like

1268
01:03:44,480 --> 01:03:47,200
Speaker 1: it looks kind of like a game, but it's it's

1269
01:03:47,400 --> 01:03:50,200
Speaker 1: it feels like it's rigged to try and make us

1270
01:03:50,280 --> 01:03:52,720
Speaker 1: do something, to try and make us act all the time,

1271
01:03:52,840 --> 01:03:54,800
Speaker 1: to be taking action. And again, this is a kind

1272
01:03:54,840 --> 01:03:57,160
Speaker 1: of it's a macho thing, isn't it. You know, you know,

1273
01:03:57,240 --> 01:03:59,760
Speaker 1: you're you're you're a man of action. You're doing something,

1274
01:04:00,160 --> 01:04:05,000
Speaker 1: taking steps and actually again it's like, don't be afraid

1275
01:04:05,080 --> 01:04:08,040
Speaker 1: to not take steps to be a man of a

1276
01:04:08,080 --> 01:04:10,640
Speaker 1: man of inaction to do nothing. You know, when you

1277
01:04:10,720 --> 01:04:13,480
Speaker 1: just said that, it made me think about gambling, because

1278
01:04:14,000 --> 01:04:16,440
Speaker 1: you know, in the old days, of course, I mean

1279
01:04:16,480 --> 01:04:18,840
Speaker 1: before the internet. This is an old guy. I remember

1280
01:04:18,840 --> 01:04:21,320
Speaker 1: this these days before the internet. I mean, to gamble

1281
01:04:21,360 --> 01:04:23,439
Speaker 1: you had to go to certain states in the US

1282
01:04:23,600 --> 01:04:26,000
Speaker 1: when those of course being Las Vegas or even on

1283
01:04:26,000 --> 01:04:28,040
Speaker 1: the East Coast. And then of course then you can

1284
01:04:28,080 --> 01:04:30,880
Speaker 1: start to gamble online. And of course now that they're

1285
01:04:30,920 --> 01:04:32,960
Speaker 1: moving into it, more states are allowed to do that.

1286
01:04:33,280 --> 01:04:34,960
Speaker 1: But it's almost the same thing like what you just said.

1287
01:04:35,440 --> 01:04:37,320
Speaker 1: You know, there's these apps that you can go to

1288
01:04:37,800 --> 01:04:40,120
Speaker 1: and they take a lot of our time, and it's

1289
01:04:40,200 --> 01:04:43,200
Speaker 1: almost like, if you really think about it, in these

1290
01:04:43,320 --> 01:04:46,160
Speaker 1: in these spaces, were really gambling and it's and there's

1291
01:04:46,240 --> 01:04:49,760
Speaker 1: not much difference between gambling here and gambling in Las

1292
01:04:49,840 --> 01:04:52,000
Speaker 1: Vegas and putting all your all your money on eighteen black,

1293
01:04:52,880 --> 01:04:56,760
Speaker 1: and so to get away from that is a it's

1294
01:04:56,760 --> 01:04:58,959
Speaker 1: pretty hard to do, and I can see why people

1295
01:04:59,000 --> 01:05:02,320
Speaker 1: get into it. Yeah, it's and I remember sort of

1296
01:05:02,640 --> 01:05:05,840
Speaker 1: one of the most pervasive things in the UK that

1297
01:05:05,920 --> 01:05:07,720
Speaker 1: I've noticed in recent years. I don't know if you

1298
01:05:07,800 --> 01:05:11,160
Speaker 1: have it over there, rob But you know, gambling has

1299
01:05:11,200 --> 01:05:14,120
Speaker 1: evolved now that you know, you used to bet on

1300
01:05:14,240 --> 01:05:17,640
Speaker 1: the outcome of other football match. Say that's that's that's

1301
01:05:17,720 --> 01:05:19,920
Speaker 1: I think the best example football, I mean football is

1302
01:05:19,960 --> 01:05:25,920
Speaker 1: in you know, soccer, soccer. But yeah, you used to

1303
01:05:26,000 --> 01:05:27,840
Speaker 1: bet on the outcome of a football match. Is it

1304
01:05:27,920 --> 01:05:31,160
Speaker 1: going to be win, lose or draw? And now it's evolved.

1305
01:05:31,200 --> 01:05:33,919
Speaker 1: Obviously the Internet has enabled this, but you can people

1306
01:05:34,040 --> 01:05:38,440
Speaker 1: will bet on the number of free kicks, on the

1307
01:05:38,560 --> 01:05:42,320
Speaker 1: number of red cards, what time the next goal is

1308
01:05:42,400 --> 01:05:45,520
Speaker 1: going to be scored, how many corner kicks. You know,

1309
01:05:46,480 --> 01:05:50,360
Speaker 1: there seems to be no end of things that you

1310
01:05:50,440 --> 01:05:53,360
Speaker 1: can bet on. And apparently I talk to people who

1311
01:05:54,400 --> 01:05:56,720
Speaker 1: you know, I talk to people of my father's generation

1312
01:05:56,880 --> 01:05:59,840
Speaker 1: who would go to football matches. I'm not a big

1313
01:06:00,040 --> 01:06:03,840
Speaker 1: kind of football match a football fan, but you know,

1314
01:06:04,240 --> 01:06:07,360
Speaker 1: these guys would go and you know, everyone would kind

1315
01:06:07,360 --> 01:06:09,840
Speaker 1: of watch the game. You'd be you'd be fixated on

1316
01:06:09,920 --> 01:06:12,160
Speaker 1: the game happening in front of you. And now apparently

1317
01:06:12,640 --> 01:06:15,959
Speaker 1: the stands are full of younger guys who are half

1318
01:06:16,040 --> 01:06:20,320
Speaker 1: watching the game and half watching their phone and betting

1319
01:06:20,480 --> 01:06:23,800
Speaker 1: on what the seeing and the you know, these older guys,

1320
01:06:23,840 --> 01:06:27,640
Speaker 1: these kind of veterans are just just like what has happened?

1321
01:06:27,680 --> 01:06:31,120
Speaker 1: This is crazy? Yeah, and that's and that's the world

1322
01:06:31,160 --> 01:06:35,760
Speaker 1: we live in now. Whoever would have thought that the

1323
01:06:35,920 --> 01:06:39,640
Speaker 1: new drug it wouldn't be some some synthetic or fence

1324
01:06:39,720 --> 01:06:42,400
Speaker 1: and all or or crack, you would be right here.

1325
01:06:42,800 --> 01:06:44,720
Speaker 1: It will be in our hand twenty four seven, three

1326
01:06:44,840 --> 01:06:48,320
Speaker 1: sixty five, and it will be socially acceptable. That's a

1327
01:06:48,400 --> 01:06:52,160
Speaker 1: crazy thing. And with adverts on TV and you know

1328
01:06:52,280 --> 01:06:55,720
Speaker 1: it's encouraged. It's it's on billboards everywhere. You know, you

1329
01:06:56,280 --> 01:06:59,560
Speaker 1: smoking is bad now, but but gambling, you know, it

1330
01:06:59,680 --> 01:07:02,800
Speaker 1: just hadn't it hasn't caught up. It's it's so out

1331
01:07:02,840 --> 01:07:06,480
Speaker 1: of sync. And yeah, it's it's a it's a crazy

1332
01:07:06,600 --> 01:07:09,720
Speaker 1: it's a crazy, crazy time. And that new drug is dopamine,

1333
01:07:09,760 --> 01:07:12,439
Speaker 1: isn't it. You know, they figured out, they figured out

1334
01:07:12,600 --> 01:07:16,200
Speaker 1: how to how to make make people's bodies release dopamine

1335
01:07:16,240 --> 01:07:17,800
Speaker 1: and got us all hooked on it. I mean, it's

1336
01:07:17,920 --> 01:07:20,200
Speaker 1: it's it's one of the great it's the great con

1337
01:07:20,280 --> 01:07:22,520
Speaker 1: of the twenty first century. You could argue, this is

1338
01:07:22,560 --> 01:07:25,120
Speaker 1: why I get out every so often and do those

1339
01:07:25,480 --> 01:07:28,600
Speaker 1: you know, we did this a charity appsil of course

1340
01:07:28,640 --> 01:07:30,400
Speaker 1: for kids, and I get to go out there and

1341
01:07:30,480 --> 01:07:33,360
Speaker 1: work outside new construction things like that, And that's my

1342
01:07:33,480 --> 01:07:35,800
Speaker 1: dopamine detox. Do it twice a year and it works

1343
01:07:35,840 --> 01:07:39,320
Speaker 1: out great because if not, unfortunately, Twitter will always be

1344
01:07:39,440 --> 01:07:43,560
Speaker 1: beckoning me saying, read this, tweet, tweet this out, check

1345
01:07:43,640 --> 01:07:46,400
Speaker 1: this out. And of course here we go again. Be

1346
01:07:46,480 --> 01:07:48,800
Speaker 1: sure it'sn't time to post. You haven't posted in a while.

1347
01:07:48,920 --> 01:07:54,520
Speaker 1: What's happening. Haven't you got anything to say? Oh man,

1348
01:07:55,080 --> 01:07:59,360
Speaker 1: it's bad news. Yeah yeah, And I mean that's what

1349
01:07:59,480 --> 01:08:01,800
Speaker 1: you say about the you know, going out and going

1350
01:08:01,880 --> 01:08:04,520
Speaker 1: out and doing these obstacle courses for kids, you know,

1351
01:08:04,600 --> 01:08:06,120
Speaker 1: getting out in the fresh air. That leads me to

1352
01:08:06,240 --> 01:08:07,680
Speaker 1: the kind of the last thing that I wanted to

1353
01:08:08,000 --> 01:08:09,480
Speaker 1: the thing that I wanted to kind of sign off

1354
01:08:09,520 --> 01:08:12,080
Speaker 1: on Rob was this idea. And this is something I've

1355
01:08:12,120 --> 01:08:15,840
Speaker 1: talked about before as well. But market conditions are really

1356
01:08:15,960 --> 01:08:18,400
Speaker 1: tough at the moment, all those things you were talking about,

1357
01:08:18,400 --> 01:08:21,560
Speaker 1: all those potential black swans lurking out there. You know,

1358
01:08:21,640 --> 01:08:26,360
Speaker 1: the world feels a pretty dangerous, mad and insecure place

1359
01:08:26,479 --> 01:08:29,840
Speaker 1: right now. But I think, I think again, it's so

1360
01:08:30,000 --> 01:08:33,519
Speaker 1: important is it not to to to realize that there's

1361
01:08:33,560 --> 01:08:36,360
Speaker 1: nothing you can do about that, and that you have

1362
01:08:36,640 --> 01:08:40,760
Speaker 1: to you know, your responsibility as as an investors, as

1363
01:08:40,800 --> 01:08:44,080
Speaker 1: a person is to is to try and not let

1364
01:08:44,200 --> 01:08:46,880
Speaker 1: this stuff get on top of you. If you look

1365
01:08:46,920 --> 01:08:48,720
Speaker 1: at the news and you look at what's going on,

1366
01:08:49,320 --> 01:08:53,439
Speaker 1: it's a pretty bleak time frame. But what can we control?

1367
01:08:54,439 --> 01:08:57,080
Speaker 1: So we take a look and say, and I always

1368
01:08:57,080 --> 01:09:00,000
Speaker 1: say this to myself, give me the power and understand

1369
01:09:00,040 --> 01:09:02,559
Speaker 1: and the things that I can control and not control,

1370
01:09:02,800 --> 01:09:05,320
Speaker 1: and the knowledge to distinguish between the two. And if

1371
01:09:05,320 --> 01:09:07,240
Speaker 1: I can understand that that I can say, okay, I

1372
01:09:07,360 --> 01:09:10,680
Speaker 1: can deal with this, because this is the thing that's

1373
01:09:10,720 --> 01:09:14,759
Speaker 1: within my realm of control. I can't do anything for Ukraine.

1374
01:09:14,800 --> 01:09:18,880
Speaker 1: I can't you go over there and conduct peace talks.

1375
01:09:19,240 --> 01:09:22,880
Speaker 1: I can't deal with the Nord stream sabotage and the

1376
01:09:23,360 --> 01:09:27,040
Speaker 1: rising electricity costs. I can't deal with what's going on

1377
01:09:27,160 --> 01:09:30,040
Speaker 1: in the crypto market as it plummets or the old

1378
01:09:30,080 --> 01:09:33,639
Speaker 1: course sideways or it goes up. I can't control that. However,

1379
01:09:34,560 --> 01:09:36,360
Speaker 1: I can have a plan of action the things that

1380
01:09:36,400 --> 01:09:38,160
Speaker 1: I can control and just kind of go from there.

1381
01:09:38,200 --> 01:09:40,400
Speaker 1: And if I can, if I'm okay with that, then

1382
01:09:40,680 --> 01:09:43,120
Speaker 1: then I can kind of it leads to a little

1383
01:09:43,120 --> 01:09:45,720
Speaker 1: bit more mental health. I don't have to deal with

1384
01:09:45,840 --> 01:09:48,200
Speaker 1: so many things. So yeah, but that's a big thing.

1385
01:09:48,400 --> 01:09:50,240
Speaker 1: What can you control? What can you can not control?

1386
01:09:50,400 --> 01:09:52,519
Speaker 1: I can't control lot of things. It's just a little

1387
01:09:52,560 --> 01:09:56,879
Speaker 1: small spear I have. Only Elon Musk can control things. Apparently,

1388
01:09:57,040 --> 01:09:59,880
Speaker 1: only Elon Musk can can broak a peace in Ukra

1389
01:10:00,160 --> 01:10:03,559
Speaker 1: apparently according to him. But yeah, and and with a tweet,

1390
01:10:03,640 --> 01:10:07,280
Speaker 1: that's what's crazy. This guy is everywhere. Yeah, yeah, I

1391
01:10:07,400 --> 01:10:09,360
Speaker 1: think that that just sums up what a what a

1392
01:10:09,439 --> 01:10:11,320
Speaker 1: crazy world we're living in at the moment, isn't it.

1393
01:10:11,400 --> 01:10:14,920
Speaker 1: Where Elon Musk is kind of positioning himself as a

1394
01:10:15,040 --> 01:10:19,559
Speaker 1: kind of diplomat statesman sort of guy. It's yeah, folks,

1395
01:10:19,600 --> 01:10:22,679
Speaker 1: you can't control that sort of world, So don't even try.

1396
01:10:23,120 --> 01:10:27,960
Speaker 1: Don't even try, exactly, Rob, This has been a real pleasure.

1397
01:10:28,000 --> 01:10:30,720
Speaker 1: It's always it's always great talking to you. You have

1398
01:10:31,080 --> 01:10:34,840
Speaker 1: such good advice, you have so much wisdom, and it's yeah,

1399
01:10:34,960 --> 01:10:38,599
Speaker 1: I love I love just kind of spending time chatting

1400
01:10:38,600 --> 01:10:41,120
Speaker 1: about all all things crypto and beyond with you. It

1401
01:10:41,200 --> 01:10:43,439
Speaker 1: really is an absolute pleasure to have you on. So

1402
01:10:43,600 --> 01:10:46,519
Speaker 1: thank you so much for joining us today. Guy is

1403
01:10:46,560 --> 01:10:48,360
Speaker 1: always a pleasure, and we've got to get together soon.

1404
01:10:48,439 --> 01:10:51,280
Speaker 1: I don't know when the next event is, but I'll

1405
01:10:51,280 --> 01:10:54,760
Speaker 1: be there. Yeah, I hope so, I hope so. And

1406
01:10:55,280 --> 01:10:59,040
Speaker 1: folks for all you listening, Yeah, Rob's everything Rob said

1407
01:10:59,280 --> 01:11:02,639
Speaker 1: should have spoken for itself today. He is a wonderful

1408
01:11:02,960 --> 01:11:05,160
Speaker 1: a wonderful person to have in your life, so please

1409
01:11:05,200 --> 01:11:08,840
Speaker 1: do follow him. Check out his YouTube channel, Digital Asset

1410
01:11:08,960 --> 01:11:13,080
Speaker 1: News YouTube dot com, forward Slash Digital Asset News. Rob

1411
01:11:13,200 --> 01:11:16,160
Speaker 1: your you're a great Twitter as well at news asset

1412
01:11:16,720 --> 01:11:19,880
Speaker 1: So follow Rob on Twitter two and he's got an

1413
01:11:19,920 --> 01:11:24,280
Speaker 1: excellent website to Dan Dan teaches Crypto dot com Digital

1414
01:11:24,320 --> 01:11:27,600
Speaker 1: Asset News. Dan teaches Crypto dot Com. Rob, do do

1415
01:11:27,680 --> 01:11:29,560
Speaker 1: I need to give any other shout out? So you

1416
01:11:29,720 --> 01:11:32,080
Speaker 1: any other platforms I need to let people know about.

1417
01:11:32,400 --> 01:11:34,920
Speaker 1: Just know that the website, it's the it's the best

1418
01:11:35,000 --> 01:11:37,920
Speaker 1: information I can put together that i've qum throughout the years.

1419
01:11:37,920 --> 01:11:40,160
Speaker 1: And it's one hundred percent free. It's free right now,

1420
01:11:40,520 --> 01:11:43,360
Speaker 1: It'll it'll be free tomorrow. It's always free. So just

1421
01:11:43,479 --> 01:11:44,760
Speaker 1: go there and check it out and then share it

1422
01:11:44,800 --> 01:11:47,080
Speaker 1: with your friends. They can learn. That's the whole point

1423
01:11:47,120 --> 01:11:50,880
Speaker 1: of that, I don't. I just felt like if I charge,

1424
01:11:51,439 --> 01:11:53,160
Speaker 1: there's people around the world they can't afford it, So

1425
01:11:53,439 --> 01:11:56,839
Speaker 1: just come by and check it out for free. Sometimes

1426
01:11:56,920 --> 01:11:58,840
Speaker 1: the best things in life are free, folks. Yeah, do

1427
01:11:59,000 --> 01:12:01,160
Speaker 1: check that out. It's a wonder website. Rob, Thank you

1428
01:12:01,280 --> 01:12:03,720
Speaker 1: so much. This has been an absolute pleasure. Thanks Gay

1429
01:12:03,880 --> 01:12:06,360
Speaker 1: I'll see. Yeah, thank you so much for listening to

1430
01:12:06,600 --> 01:12:08,880
Speaker 1: the coin Bureau podcast. If you'd like to learn more

1431
01:12:08,920 --> 01:12:12,799
Speaker 1: about cryptocurrency, you can visit our YouTube channel at YouTube

1432
01:12:12,880 --> 01:12:15,640
Speaker 1: dot com forward slash coin Bureau. You can also go

1433
01:12:15,760 --> 01:12:18,519
Speaker 1: to coin bureau dot com for loads more information about

1434
01:12:18,560 --> 01:12:21,160
Speaker 1: all things crypto. You can follow me on Twitter and

1435
01:12:21,280 --> 01:12:23,759
Speaker 1: at coin bureau or one word, and I'm also active

1436
01:12:23,840 --> 01:12:27,240
Speaker 1: on TikTok and Instagram as well. First of all, it's

1437
01:12:27,280 --> 01:12:31,599
Speaker 1: not thank you for listening, you're welcome for great content. Yeah,

1438
01:12:32,120 --> 01:12:35,479
Speaker 1: Like this is free and they're learning about a fairly

1439
01:12:35,640 --> 01:12:38,960
Speaker 1: great topic in a non boring way. If you'd like

1440
01:12:39,080 --> 01:12:41,840
Speaker 1: to visit me and hear more about me, go to

1441
01:12:41,960 --> 01:12:58,280
Speaker 1: mooch About, mooch About, or else. For more podcasts from iHeartRadio,

1442
01:12:58,600 --> 01:13:03,400
Speaker 1: visit the iHeartRadio, Apple Podcasts, or wherever we get your podcasts.

1443
01:13:11,200 --> 01:13:14,480
Speaker 1: The coin Burea podcast is a production of iHeartRadio.