 Great, welcome everybody to DCA where we take some of the top things that are going on just give a you our perspective as Always friend of the show James from the best answers is here James. Thanks for stopping by really appreciate it and Also, we've got Guy from Coin Bureau making a special guest appearance as Ben is out being sick Just a little bit so guy. Thanks for stopping by. It's a pleasure. Thank you for having me gentlemen Excellent excellent. So just real quick what we're gonna talk about today is a couple different things first of all We all want the market to go up forever, but what are the positives of the bear market? Second thing is how big of a discount DC Bitcoin and also on by year's end And then there's a question from yesterday military service member who has 10 years till retirement He talks about investing in the crypto How would you guys play it if you had 10 full years to invest next to last dynamic DCA versus steroid DCA or just set it and forget it And that'll be playing off of James video yesterday And finally when to take profits and not get too greedy because let's admit it We all got greedy and an honor of guy being on the show My man James has wrote a little soliloquy little poem to welcome into the DCA family James. This is you Yes. Yes guy. I've got a big big boots to fill, but I'm gonna try this on guy I am James and I broke no games Questions have you all oh so many Answers will I have a plenty? But Terry, please don't hurry for financial advice. They'll be nary Excellent work James excellent work wonderful All right, Jen So let's get to it. We're trying to keep it a little bit light because let's be honest everybody here first of all welcome We know that today in the last couple of months or so have not been the most Bright we will say so we have to take a look at the big picture Just take a step back and see exactly where we're at And this is why I called these two gentlemen in to help me out So the first thing is and I want to ask I'm gonna start you with James We want the market to hit all-time highs all the time constantly But what are the positives of this bear market because it's a natural cycle I think the narrative we have to switch it a little bit to get us in the right mindset. So James. What do you think? Interesting question, but there's an easy way to think about this and as you guys know if you know my channel I love numbers Numerology threes, etc. And this could turn into a show of threes because DCA is three people but think about this everybody Think of the numbers $30 $300 $3,000 and $30 where we are now. What do they all have in common? This is the pattern of Bitcoin every cycle like clockwork and that's exactly where we are right now It's funny like we're at 30,000 right now. We know We're going to 300,000 one day We just don't know when is it going to be three years five years seven years from now Somewhere in that time frame for sure and that is the beauty of this so the beauty of these bear markets if you go back to Even March 2020, which is not that long ago I was buying a theorem at 90 bucks and Bitcoin at 4,000 5,000 7,000 9,000 dollars and look at it today I know people are expecting much bigger numbers much faster the whole GRQ phenomenon Actually, everybody just zoom out. This thing is so scarce eight billion people on earth We want to have some and it's simply not enough to go around It is the most beautiful supply and demand scenario set up asymmetric better for lives Couldn't agree more and I'm hoping to see more of that so Guy your first question So look and you've got a pretty enormous channel and you've been doing some live streams taking questions from people now The sentiment is a little bit different, but what are some of the positives you see for this bear market? And is there if there's anything to it? Yeah, I think I mean there are a ton of positives really I think for me perhaps the biggest of them all is just less noise and You know noise encompasses a whole range of things, you know, there's less there's less hype There's less pressure. There's less, you know sense of FOMO and stuff And I really do think that that FOMO in particular is something is such a powerful force, especially on you know You're less experienced investors So but this idea, you know, this this less not just general noise in the space I think is so important because it means that project fundamentals can shine through and It means that for those who are, you know willing to put the hours in willing to willing to do a bit of time on the research They can filter out all the stuff that doesn't mean anything they can filter out all the useless information and just focus on what counts You know a strong use case a good team good investment all these all these really important fundamentals And you know without having to without having to worry about, you know, oh, am I missing out? It's do I need to get in now, you know, have I missed the boat because we get asked that so much Don't we and so I have I missed the boat? And a bear market is the it's the ideal time to just to just put that park all that to one side and focus on focus on What's really important? Yeah, that's a good way so like for me like I think of bear markets and just to piggyback what you guys say It's true. I mean these are the times when the noise gets pushed out and people will say well, you know How's this how's that work for growth? Remember in our last big economic crisis back in the in the 0809 times I mean there was some pretty big companies that grew from that Venmo Being one of them in 2009 group on Instagram uber. I don't know if you have ever heard of these companies slack Square stuff like that So there's just that one part the noise gets pushed out and I got to tell you in my personal opinion And we've seen this we've seen this on Twitter because we're very active in those communities How many times have we seen rug pulls and people getting scammed out of their life savings and things just going away Those things need to go away and there's only one opportunity for that and that is in this bear market So I'll say that and then lastly of course Some nice discounts. I know people want to hear that but it is what it is. So that would lead me to my next question How big of a discount do you see Bitcoin and also going by year's end? So guy you're up in the top corner. I'm gonna ask you this first Where do you think we're going by year's end and you can say it, you know, whatever time mom you want to go for? Sure, sure Alts is Alts is a really really difficult one to call So, I mean, I'm gonna start with I'm gonna start with Bitcoin. I mean, I see I think Bitcoin Ken goes low as as 20 20k and obviously that's the you know, that was the the high watermark of the of the last bull market. I Think yeah, I I I would be surprised. I mean, I could be wrong and I'm you know, perfect There's a good chance it could fall below 20k, but certainly I'd be surprised if we saw a BTC sub sub 20k I think as people as investors kind of cycle out as Alts because out of Alts because let's face it You know, people are going to continue taking profit on Alts. There are still Plenty people who have got a profit to bank even even in the conditions that we're in I think a lot of that money that bleeds out of Alts will find its way into into Bitcoin and and Eth as well and I think that's that's sort of by pressure Should be enough to keep Bitcoin above that 20k mark. Yeah, that's a good one So James same thing same question you how low are we going that you think and of course everybody None of us have a crystal ball as as smart as these two gentlemen are they cannot tell you the future But we can take a look at some good data James. What do you think? Yeah, again? I look at a lot of on-chain data a lot of technicals I look at price levels of which buyers come in if you're talking about Bitcoin specifically, which is a lot easier Maybe to estimate than the old coins after what happened recently Every time we dip down to that 28 five level You see big buyer step in and just stack and you see that in the cohorts on chain as well that are accumulating and People now are wise enough to know. Okay dips are opportunities We are at kind of historic lows for this place in the season and Did hit that 25,400 we were there for a matter of minutes and then straight back up again So a lot of people are talking about that 14k level the 12k the sub 10k the 20k. I Just do not see 20k I definitely don't see 14k happening unless something really really bad happens in the economy now We are going into a macro environment where qt is going to happen for the first time in a long time That's quantitative tightening and we don't know how this is going to play out because this actually hasn't happened in 50 years I know it's meager compared to the actual size of the balance sheet But it could have an impact on credit markets Which could have a contagion effect on other markets and that could knock on to Bitcoin But I've always talked about the fact that I do believe Bitcoin will ultimately be a safe haven And I also know that this bear market shouldn't last more than a hundred days longer We're considering we're in about 120 days now And because after that whatever is going to happen with the Fed and qt Hiking etc. That has to give I estimate the next 70 85 days Then we'll know that they are going to stop and then markets will really rally fast and that's when you want to be on the train So when that does happen so floor we might get back down to 25k If something really bad happens macro wise we could go to 20k possible, but it's a edge case You know 10% probability event of happening in terms of what happens after we definitely by the end of this year We'll get back to all-time highs and potentially 80k. I don't see a hundred K this year Oh, no. Yeah, and then in terms of the old coins as well final point they people have just gotten a black guy after what happened with Luna and As of that everybody's extremely gun shy so you see much more flight to safety, but again some of the holes that have tremendous compelling value You know revolutionizing traditional finance with DeFi They are very oversold right now, but Ethereum for example is showing very good support at that $1,700 level so hoping that holds if not that could be a bad omen Yeah, I got you and you know I a couple of things like I totally I would have not agree with you on on some of those points if it wasn't for the fact that over in China for the supply chains Shanghai just opened up and they're trying to get back to Helping out with the supply chains and getting and filling those demand if it wasn't for for those types of factors of like I don't know because you know the Fed can only do so much They can only tighten so much and you talk about that on your show And I think that once they start to see if things start to to break then they're have to pull back So there is that aspect of it. All right, so As far as that one that was the The bad part of what's going on in the macro environment and in our in our crypto space So the last or the next question would be this let's take a look at and zoom out a little bit This was a question from my live stream from yesterday. It's a military service member and He said, you know Robbie goes I put in 10 years. I got 10 years to go before I retire Do you think I can make enough in crypto to retire? Successfully and I have to work after that for 10 years and I thought about I go, you know, a lot of people don't think in 10 years What do we think about a lot of people think the dogecoin millionaires think in six months or shorter? So that's the big question. It was up to you and you had 10 years. How would you handle this situation? I'll switch it up a little bit guy. What do you got here? You got 10 full years to invest. How do you play it? I Think first first off just DCA start slowly Identify those, you know identify those big those bigger projects that you that you want to get into I think You know because 10 years is 10 years is a long time. He's he's got time on his side So he's got time to again to do that research to look into those fundamentals to see Which the most which are most attractive projects are and I think also, you know, it gives him an opportunity to To really sort of diversify and I think by that, you know, you want he wants to he wants to get a good kind of base of BTC and ETH And I think also some alternative layer one plays as well And I think crucially for someone who is who is looking at retiring He should be he should have a focus on passive income as well. And I think that's where I think that's where staking can really can really help So I think that should certainly inform his strategy to to to a large extent, you know How can he how can he put some aside and keep that income coming in? and Lastly, I'd say it would especially important for someone in in that situation to You know to diversify as much as possible not just in the in the makeup of his portfolio But where he's keeping these coins and tokens as well, you know, because retirees are the most can often be the most vulnerable Group I think especially in at times like this So, you know, he needs to make sure that he's got that portfolio nicely spread. He's self-custodying what he needs He's got himself spread across multiple platforms as well as as well as multiple good projects Exactly and then before I before I go on I got a preface it with this this guy He's gonna retire in 10 years when he turns 38 So think about that. He's 18 years old. He went in the military He is now 28 and he's thinking that far ahead And I think that's a great lesson for all of us to think about that way All right my day and that in fact as one of the things that is actually radically changed in this world is for the first time ever you have young people teenagers understanding the impact of money printing and macroeconomics and the Fed and Government corruption and everything else Everybody now is wise to this doing their research building models Planning retirement at 38. That's the best thing I've heard all day. Yeah. Yeah. Yeah, I've heard I've heard from I've heard from Teachers here in the UK, you know, they overhear their kids Talking about crypto and all these coins and stuff But they say they also hear them talking about things like DCA and and staking, you know They're and and sort of more sort of general financial terms You know, they're all they're all seem to be clued up on what the on what the next interest rate Rise is going to be on in a Fed policy and things like this It's it's an amazing thing to see because certainly in my day We never had anything like that We couldn't have been less interested in that sort of stuff and I think that's a great hope That's a great hope for that, you know for the generations coming up behind us because they're you know, they're learning What's really important? Yeah Well, I mean that's just it because I mean we're all that age We remember before the internet before the internet where'd you get your news? Where'd you get your information? Well, it was the Dewey decimal system in the library also the mainstream media newspapers There's nothing that would put out like this. So now people kind of go Yeah, I need more financial literacy because me just work in 9 to 5 for the rest of my life till I turn 65 and then trying to rely on a pension is not happening So that I think is a big thing. Alright, so we answer that question, which well, I I do have some opinion for this service Man, I do echo the fact that guys that have passive income is super super important But if you just look out like I've been building price prediction models for Bitcoin and stuff for Four or five years now. So my bear case for Bitcoin by 2030, which technically is only eight years from now Is quite high. It's a like bear case is about $576,000. So if you're looking to retire at the age of 38, you need to think about Okay, how do I supplement my life for 40 years and what will life cost over the next 40 years? And that's where it gets really tricky and remember as well having to Bitcoin for example by the year 2030 Yes, you'll have maybe 1.2 million dollars bear case scenario with to Bitcoin But you've got to remember as well the purchasing power of that Bitcoin is going to come down by at least 45% the purchasing power of the dollars that the Bitcoin value is in so start thinking in terms of Bitcoin valuations not necessarily dollars and the bull case I have is about 1.55 million And my expected case is at least 785 K by 2030. He's another two years after that So who knows what'll happen. But once it does go parabolic, it'll go up very very fast We just don't know when that is once the supply really dries up. Just think about those 8 billion people chasing after What effectively is less than 14 million Bitcoin that exist? Don't believe the 21 million number because so many are lost. Yeah, that's exactly right. So so James So talk to us. I mean because that whole thing if you had 10 years because you're not you're more of a trader You've been doing this for how many years 30 years exactly three decades. I didn't want it I didn't want to overextend that time frame want to be in full light. So so we're talking about three decades How do you play this in 10 years? What do you do? How does this work out? Is it all just trades? Is it all or is it a little DCA or what? How do you work it? Well, I believe again going back to the threes I kind of believe you should have three bags of stuff one should be, you know, your passive income source It could be rental properties one is kind of your your hodl bag Really really safe assets and the other third could be more of your speculative assets and within those you do different things You have a certain allocation that you never want to give up. So for example, you have x number of Bitcoin Nobody's touching those you've got y numbers of shares of Tesla Nobody's touching those they're just locked away And then you have other stuff that you play you swing trade you hedge as markets develop And I think that is kind of the way I play the game Sounds good. Yeah, and then just kind of to bring this all home to talk about what the guy mentioned and then what James talked about as far as those models is There's this there's this great website. I don't know if you guys have seen it it's a friend of the show Ben Cohen and his app into the cryptoverse and I love this one where he talks. It's the crypto market cap and trend line let me see if I can blow this up and What James was talking about as far as ten years Moving out this red line right here is the fair market value and you can see right now We're just a little bit below that but if we can extrapolate that and go out just to follow this line Let's take 2030 28 Which is only eight years so that service member. I think it's gonna do pretty good The fair market value is 46 trillion dollars upper band is 186 trillion lower 13.2 But I'm really hit that too much. So James would that fit with the model that you have? That's way more aggressive and then my model my model is very heavily sandbagged, but 46 trillion That's the entire CMC isn't it crypto market cap? Yeah, no, no, not not just Bitcoin That's a 46 X and where we are now so you could do your math at home 46 times 30 gives you the high-end target But again, you know, you have groups like at Fidelity They have Bitcoin and a billion dollars by the year 2037 I know people may scoff at that idea Kathy would million dollars in five years eight years And pretty easy judgment. So it's just again, it's the most perfect Supply and demand situation in the world because you don't have to worry about supply. That's defined It's just about demand and look at the adoption. It's all you have to worry about and it's pretty easy to model from there Oh, yeah, so when in doubt zoom out I know today is awful and we're looking more of a bear market. Just remember long-term Verizon Absolutely, absolutely Has Rob Robby you frozen there? I think so we may have lost them, but anyway, by the way while we're talking about those members that Multiple going out puts Bitcoin at least at one and a half million dollars a coin based on 2030 bands model That's weird that we are here and Rob is not Running the show Yeah, we'll just we'll just have to take it from here But yeah, I mean it's heartening, isn't it? And I think especially at a time like this when there's so much when sentiment is so low when you know People are looking at their portfolios and just seeing just a sea of red, you know The importance of a long-term perspective and I think it was I think it was great that Rob chose the you know Chose the example of that, you know of someone looking to retire because because this is what it's about Crypto investing is is a long-term thing and and I mean that the same is true of of regular investing as well You know the people who win are the people with a with a long-term view who are you know content to put money aside today and they know that that's you know That they're not gonna they're not gonna reap the benefits of that anytime soon But that's that's okay because they have this they have this long-term view And I think that's what the one of the most important things to remember in a bear market You know not not only not only are we here for for a long time, but also these things are these things are cyclical Aren't we aren't they there in we're in a bear market that we've all kind of we've all seen coming And we've been trying to you know We've been trying to trying to predict it and trying to imagine when it would come But you know it has come and and we knew that and that shouldn't really that shouldn't really change a good investing thesis Exactly and the way I always a look at it is what I've been successful in my life is identifying an opportunity early Getting in hard and holding on That's it. So but sometimes, you know, theses change For example, I was early into things I could google I was early into things like amazon and netflix I was early into facebook, but then I didn't like facebook and got rid of it And I sold a little bit too early so Like p2tl Exactly Yeah, so that's that's how it works. And I don't know. I don't know rob is coming back But we do have a I know he wanted to talk about a couple of other items like DCAing do you have a particular DCA strategy yourself that you recommend or What does guy do personally for his own bags? Do you like to buy more aggressively on dips? I do. Yeah, I mean I do try and stick to to to a fairly rigid DCA strategy, especially at times like this But I mean, yeah, I I'm I'm not averse to Piling in when I see, you know, when I see a dip and when I see a what I what looks to me like a nice opportunity um You know having said that I mean to sort of play devil's advocate on on on on dca You know, I think one of the great things about it is it's it's simplicity I think that's one of the things that really appeals to you know to so many people either who don't have much experience of investing or You know, they just want to they just want to put some money away and get on with it They don't have the time or the inclination to to keep looking at at charts and keep keep evaluating that. Oh, he's back Sorry about that Gary Gary Gensler just cut my cord. I don't know what happened. Did he did he just did he just Absail in through one of those windows behind you. Yeah, exactly. It's one of those things that happened Sorry about that So technology is great and tell us not live tv That's how it goes. That's a joy um Go ahead. Rob. We just we just gone on to talking about dcaing, you know in in general I was just saying, you know, one of the um, one of dcaing's sort of Best aspects of it. I think is is the fact that it's so simple Is the fact that it doesn't demand So much so much from an investor, you know, and and I think there are plenty of people out there who As I said to as I was saying to James, they just they want to invest They want to put some money away for the future But for one reason or another they might not have the inclination. They might not have the time. Let's face it to You know to keep to keep a close eye on on on the on the macro situation on what's happening in crypto What's happening in stocks? What's happening in on the charts, etc And that I think it's the beauty of dca in a way. It's so it's so damn simple Yeah, I gotta agree And then I miss I'm James. He did a great video yesterday. I watched it twice on the dcaing steroids. Very good stuff Very great. So I don't know if you've already talked about it, but if you haven't please do so Yeah, well The interesting thing about it is It sounds really simple and yeah Sometimes the best things in life was simplest things in life, but I've always approached it from more of a How do I say I want to get more bang for my buck So I always had this principle of for example in the last recent times. I don't buy bitcoin above 42k My dc stops But I allocate cash build up my cash pile and I was trying to build out a formula On how to optimize that whole concept. So I had this idea of dc and steroids I've kind of leaked the approach many times online But decided to make a formal video because it's such a great time to Either lump sum by now because we're at historical lows or build in a process for the coming period of time So it's very important first of all to look at time series investments And then what I typically have done is park money imagine you've got a hundred dollars a week to save Park that but then you start deploying at an accelerated pace When you get beyond a certain distance from all time high because think of bitcoin being up and down up and down Like a jagged edge with the overall trend going up But when you do hit an all-time high there is a high chance of mean reversion in most cases And that's that's what you wait for so the key threshold is like 35 percent from an all-time high Then you start deploying 40 percent you start deploying like instead of a hundred dollars a week 166 45 percent from all time high you go to 264 and more than 50 percent from all time high You drop all your cash and when you do that, uh, you basically can beat It's traditional dca by 20 or more and that doesn't even include putting your Coins and stable coins and earning seven or ten percent yield Then it's you can easily make 30 35 percent and that's kind of what's fun So that's just one of the lessons but remember everybody as well. This is time series dependent They'll come a time when bitcoin will just go back into a bull market and especially up to the next halving And that's when you want to be on the train and deploy as much as you can because that's when DCA really is effective and timing your buys is not effective. So always bear that in mind everybody Yeah time It's it's so time sensitive You've heard of diddy from the bitcoin family, right gentlemen that put everything into bitcoin. When did he do it? The very beginning of 2017 he sold his boats his cars his houses in his business and went all in on bitcoin That is like the perfect time of all perfect times if we can hit that timing I will never hit that timing. I will always sell below the top and buy before the bottom That is just how my strategy works because i'm not i'm not uh notice your dominance, but the next thing All the different projects are laying track right now. They're building. They're trying to absorb other projects They're they're doing all the great things the things that we should be doing as investors is thinking about taking profits And that I think is a is a big issue for a lot of people and and you watching at home I know you got greedy. I know you did because I hear in the in the comments all the time You got greedy. You didn't take as many profits as you should So gentlemen, how do we do that? I'm gonna start with a guy and I'll finish off with james. How do you take some profits guy? I think one way you can look at it is to you know, you dca in Why not why not dca out as well? Why should why should it not cut both ways? I think that's I think that's a good way of doing it To you know to because what I think you want to do is try and take the emotion out of it because You know, we all know that that amazing feeling where that where the where the coin that we've we've lumped on You know, we see it going up and we just think and and we have that voice in our head Don't we going you said you'd get out at this point You're not out and then the other voice saying well But no look at it. It's on a tear it can go higher It can go higher and then you go to bed You finally take yourself off to bed and then the next morning it's gone lower And you've you know, you've missed your you've missed that shot And I think any way that you can you can remove that that emotion from it I think sometimes emotion is is our is our biggest enemy. You know, we say it's that it's that old adage, isn't it? You know the the person you're battling against is is you you're fighting against yourself So anything that I think yeah looking to dollar cost average out of a position The same way that you DC aid in I think this Case for that. I think also as well, you know, obviously this this involves a degree of risk in that you're you're committing to keep Crypto on an exchange, but you know, you can set up a you can set up a sell order You you pick your realistic price point you pick a you know, you pick a price that you're going to exit at You know, they have a percentage of your position You're going to exit and you you set up a sell order on on a regulated on a on a you know On a reputable exchange and you let it do its thing because again I think so many I've done it and I'm sure I'm sure most people are watching you've done it as well It's just you you know, you should you know, you should push that button, but you just can't bring yourself to so Yeah, it's trying to remove the emotion from it I can agree there. So let's talk to somebody who has no emotion In in in investments in investments. James. I think is one of the masters of this James. How do you do it? Well, it's it's funny because I find it far easier to trade equities than crypto Because crypto is not driven by logic, but equities are so like I remember I was on them Meet Dave. He's a top tesla analyst and he was stunned that I I shorted tesla at 1200 bucks Um, he was like, what what are you doing? It's like, well, of course base is about 38 dollars need to take some profit So I'm very good at timing swings, but I think the truth is most people got caught out by plan b and 100k bitcoin and then the run and everything else and I think that was A bit of a problem. I actually started a series called should I sell back in september october You know things like when to layer out what prices to layer out certain assets And I remember mattock I think I hit the first layer of two dollars and seventy and at the next one like two ninety nine and I only hit the first one and the rest in the market came crashing down. So timing is everything and I think, you know, we were all caught out But remember as well, we were hit with a bunch of stuff like a perfect storm of the badness between ukraine invasion between hawkish fed between What was the third thing? a luna imploding I mean this just smashed the market, but you know, we'll be ready. We'll fight again And in terms of kind of what I said earlier though Taking profits if you do own a pristine asset allocate some that you're not going to touch Your hodl bag lock it away and then play with the rest think of having 60% of your bag being okay This is my bitcoin or my tesla or whatever your pristine asset is ethereum And then keep that and then layer out of the other stuff that is riskier just speculative investments And that's the way people really need to think going forward because we've been surprised by a bunch of stuff Um, you know people like rell power talking about 40 000 dollar ethereum back in christmas and of course But but it was just so much so much exorbitant bullishness You know, a lot of people fell into the trap Yeah Look Guy's been here guy you started investing in 2014, right around that time Jay i got in 2017 james you've been investing but got into crypto in 2020 somewhere on there Even though we know in the back of her. Yeah, even though we know about these things It's still that that voice on our head to take the profits And I will tell you this in end of november early december I was not happy when I had to take profits to purchase Some real estate and I thought hey, I'm going to miss out on this huge opportunity But it was the best thing of all time so from now on and of course what happened luna from now on this channel Every time there's a little pump. I always say the same thing. Nobody everyone broke taking profits Yes, at some point you may miss some some massive things But be safe as opposed to going all in and losing everything because i'm tired of seeing those emails and posts All right gents. Thanks so much for stopping by We that's that concludes the question part for that I have Now if you got time, let's jump in and just uh have some of the people out there See what they got for us. Shall we? Yeah, all right so I started some as we were talking James is the goat. That's what it says Agreed Get well soon ben. Yeah, I've been watching I watch ben stuff and he did not sound too good when uh, his last couple of videos Beardy says man crushes. That's very nice Thumbs up guys first class with robin, of course Where's where's jordy? George was the original? trifecta, but then george does three streams a day and he also has a car channel If you haven't checked it out check it out, but he got too busy and I don't want ben to get burned out That's why they gave him a break Yeah Okay, we're gonna stress guy out instead Exactly I bought all this all I need to retire in 2030 according to james's plan. I like that Yeah, but but also on that retirement question everybody just think You've got to understand again I can't stress this enough the cost of living increase if you do have a retirement plan Plan many things including having that perpetual income Passive income basis and think about finding a cheap place to live That's both safe and has good medical and all that type of stuff So a lot of people don't think about this like I'm gonna plan a retirement in new york city or san francisco or You know london that these aren't the places to retire He knows that too, but if you move like 50 miles out of town you can live for a third of the price So this is the other part of the plan that people need to think about too. Yeah, I agree This is a this is exactly what happened to me. Ten years since only to buy bitcoin was at 3k. I bought it around 50k Let me ask you this Guy, when's the first time you heard about crypto and did you pass on or did you jump on it? I first heard about it in 2013. So I went down to uh, I went down to a pub in in east london And you know that part of east london where I was living at the time was very very trendy You know, it was it was right kind of at the at the cutting edge of right now, you know And uh, this pub had a sign behind the bar saying we accept bitcoin and I was you know I just saw it and and it was just a moment and I just asked the bar I asked the barmaid and she didn't really know she always like was digital money and I was like Okay, so I fortunately when I got home that evening. I hadn't had so much to drink that I could remember what she said And I I started looking into it then but I mean I must say like That time around that time I started looking into it. You know, that was when mount gox was happening You know that that that that implosion there was a heck of a lot of fudge flying around You know plenty of people out there who thought it was going to zero So it was it was a while before it was a few months before I before I actually bought in Because I was just Yeah, you know, it was there was so much there was so much negative press around it I had to let the I had to let the fundamentals You know, I had to get those fundamental Into my brain and let them sort of shine through the fog of everything else before I was before I was ready to go in So, yeah, I mean I could have got in earlier, but Hey, it's it's everyone's everyone's it's it's everyone's story, isn't it? Yeah, I think so and then James I'll ask you But so now everybody knows that guy got in at 2014 So not only does he have the biggest channel on youtube also a billionaire. Look at that James What what do you got? Well? I dabbled in 2017 and I was watching it very carefully because I was fascinated by it fascinated by the economics behind it in the project But I was very suspicious because it didn't have any kind of mainstream adoption So I was gun shy and then when I saw going to 20k excited tiny piece and I was like Damn missed it. But I I'm smart enough to know not to chase. I always say don't chase replace So I didn't chase and thank god I didn't and then I started after crash back down to 3k or whatever I said, well, you know what it's worth putting a small allocation like 1% into this Then when uh c19 happened I was actually in a big cash position late 2019 Because I was expecting another type of crisis, but I was also studying up on the c19 stuff And I was ready to deploy a lot of cash and then the day that that c19 crash happened I just jumped in hard. I said I missed it in 2017 Uh, but I'm getting it this time and that was it and same thing with the ethereum I didn't buy my first ethereum till the same crash Um, so in at 90 average cost is about 200. So this is the thing everybody as well You know when you get these opportunities Don't be fearful and a huge part. This is psychology I call it running into a burning building Sometimes you got to do that and that's when the big money is made and you know Hold on to the winners as long as you can. Yeah, and that's That's that's the big thing hold on the winners as long as you can But of course at some point you can't diamond hands forever, which I guess this is actually a good lead in What about buy borrow die? So this is something that we had talked about previously about taking loans out against your crypto So you buy the crypto instead of selling the crypto you borrow against it You put in the other assets and you let that grow and then of course if you die Then if you have everything in a trust it goes to your kids and there's no taxation for that It's pretty much used by the super rich or just kind of rich And I will just tell you my my example I took out a loan with celsius and I know james you had alex on on the show And it works out pretty well the the thing is that you have to be aware of is that those margin calls They come fast and they come furious and if you don't have collateral in there They will they will stop you out and they will sell everything and of course when that happens When you take a loan against your crypto, it's not tax it's not taxable in the us I can't speak for every jurisdiction But when they liquidate you it is and that could be short or long-term capital gains So the thing you have to be aware of is do am I at the the threshold if I'm going to loan against it Or if I take too much am I going to get stopped out any thoughts on that for you guys? Well, well, I'm very excited about the fact that there's so much explosion in kind of defy and the enabling of barring against your crypto bar against your Bitcoin or whatever else it still is the wild west. It's still early days yet. Be careful But as I say if bitcoins at a low price like say 30k bull park right now And you've got 25% loan to equity. You're going to be safe You're going to be safe So that's what I think is amazing. I'm not quite ready to do they added to the small little experiment once just for fun on Celsius to see if I could do it in california in real time and borrow money at 0% and I could and I was like mind blown but Yeah, just be careful manage your risk everybody out there But there'll come a time this this will be a much more mature place Three five eight years from now and then that'll be a big part of your Survival so the s the buy bar die is definitely a great way to go borrow as much as you can Remember your fiat is debasing by 10 to 15 per year if you can lock in a fixed rate of two or three percent But yeah, do it all day long All right, guy. Do you do any of that stuff or is it just to buy and hold dcan dca out? Yeah, I'm I'm much more cautious actually I I I kind of hold on to I hold on to this idea that that's been sort of hammered into me since I was a kid that You know debt is is something to be avoided at all costs and you know, I say I I absolutely take that I absolutely take the benefits see the benefits of you know the buy borrow die Strategy I still yeah, I I still tend to err on the side of caution But you know, I've got hopefully many years ahead of me in that results in in that case So, um, yeah, I'm uh, I'm not certainly not ruling it out for the future Yeah, we all we all hope we do but uh, we'll see how it works out. I'm hoping to but who knows All right, and then let's see. This is a good one Thoughts on solana from each of you is guy or rob into stocks. What do you think about tesla? Let's start with thoughts on solana I personally bought solana. I still have solana Um It's in beta. We know it's in beta and of course ever likes to ask this question to james Which is like the same thing that ever likes to ask cardinal questions to me uh There's a lot of there's some issues going around with the When it went down for four hours yesterday and we know that's true but Every single chain has some limiting factor and if they didn't there would be the number one winner We wouldn't have a problem a theorem has incredibly high gas fees and that's not going to go away with the merge Solana has those issues coming down. Whether that be Uh Messages or whether that be just overall slow down or a complete stoppage Cardano is still slow and they're going to have an upgrade at the end of the month We'll see how that works out and then we have to see how much the stress test polka dot uh eos Uh avalanche all those ones they all have something wrong with them right now But as time goes on, I think it'll be better james. I'll start with you. What do you think on that first one? Yeah, well first of all, um, I am not the solana help desk. I keep saying that Like I I was buying solana at eight dollars and twenty dollars and the 35 32 dollars and then during june and july I made a bunch of videos about solanas at 20 bucks 20 bucks 20 bucks And I feel bad for the people that didn't get in at that time But when you analyze all of the cryptos and yes, I'm well aware of the outages and the problems and this should not happen This is really really bad and people are losing faith But there's a couple of things to consider one It is if you look at all of the cryptos where they are now compared they to the work to where they were 12 months ago There's only one that is actually still double from where it was and that is the one that will remain nameless I'm not pumping it. Not shilling it. I know people sometimes like bitcoin. They buy at the top. They buy Solana I went from eight dollars To 250 dollars in a very short window of time and that drives fomo and irrational behavior and people get stung But also look at stuff, you know, I spent a large part of my life last year I was new to youtube and I was just sharing what I saw I spent literally 90 percent of my time slating cryptos because they had bad tokenomics bad structure Everything else and I became a very unpopular person I never got one word to thank you for people for me keeping the matter things like cadena and all this other stuff so Anyway, you know, I was extremely choosy about what I invested in and did a lot of background homework and You know built out the crypto compendium and the scb profile and all that type of stuff And that has been very effective and it did work. But again, the question is where are we going to go? It's really tough I think the question was Solana will it survive Right now after it's not a luna. That was a different type of situation um I think People will go to the chain that is the best easiest fastest slickest most breath adapts. It's like going to a mall That's it. They can get out of beta. They can fix the adage problem Um Listening to anatoly He believes they can Then that's that's what'll happen. It'll be a survival of the fittest Fittest cheapest fastest what that chain is we don't know yet ethereum will be there in the future for sure And I think there's a very good chance. Solana will be too as well as many others Yeah, and then and then before I get to you guys just remember Nobody's perfect. I remember I had a nice little prediction of bitcoin 150k. That didn't happen I put voyager to 30 dollars. That didn't happen and there's a lot of things that I've been wrong. Just ask my wife So we just go forward and we try to we try to the best thing we can And off we go guy. What do you think on this one? I think solana still has still has legs. Yeah, it's as you say it's still in beta It's you know, I see I see these outages as as battle testing of the network and yeah I mean they're concerning. They're not a good look. It's not something we like to see but As you yeah as you also say like all every every blockchain has its own You know its own weak points its own failings and these outages seem to be solanas I'm confident because they've got an enormous amount of backing Yeah, they've got a heck of a lot of developers working on it. Um They've also I mean apparently it's actually quite difficult. It's one of the trickier ones to To actually develop on I think anatoly said it's a bit like eating glass which is Interesting but um, yeah, so I mean that would be my only real concern about it But you know, it's got this amazing tps Which is which is attracting people to build on it Those those projects that are building on it are also attracted by all that capital that's there that's behind it and um, I I mentioned I mentioned in a live stream earlier today actually So there's an interesting clip in the algorand uh conference last November Yes A bunch of vcs are talking there and they kind of tend they kind of mention in passing that the institutions They're they're not at all bothered about Solanas downtime And for me, that's that says quite a lot. I think I think the smart money still still believes in that in the project And so do I Yeah, I gotta say That's an excellent point guy There's one other thing that I did notice as well Sorry rubbish. If you look at I analyze very carefully daily active users weekly active users monthly active users and all the chains Those users don't go away despite outages. They'll wait their four hours and say, yeah, okay And then there's their straight back to activity and that was fascinating for me to see I thought people get pissed off and they just bounce to the next chain, but they don't Yeah, I think you know what it's like It's like when the internet first came in and it took you like 30 minutes to download a picture a jpg Remember those days dial up a wall stuff like that. No one would take that but it takes time to get things moving I think that's what we have to to to go for and then the last one will finish this up Is gaya robin to stocks? I am I've got mara and I do have tesla and I got I've been Delacost averaging amazon since I got an amazon fda business I'm excited about this because it's gonna be a stock split. So we'll see how that works out That's just me guy stocks not your thing or yeah I have yeah a little bit in stocks I like um, I have a bit of a weakness for for sort of very boring dividend payers. So for instance Legal in general the big sort of insurer asset manager I don't know if you guys have exposure to it in the in the us, but um Yeah, legal in general is a big company over here pays a very healthy dividend, but it's it's quite dull You know so um, but yeah, I mean I I'm attracted to stocks like that really the stocks that have You know a fairly fairly unexciting but Dividend as well is is is important for me. I mean obviously I understand the importance of of a good growth stock But you know crypto tends to be more my my growth stock And it's gonna be that's gonna be huge, but I'm totally biased and then lastly tesla James you want to take this one for 30 minutes and talk about tesla Give me five hours. Yeah, I mean people doubt Elon Musk all the time and they claim it's a very overvalued company But once you start digging into what tesla actually is It's not a car company and that's that's where the penny needs to drop for many people But the way this man's mind works the way he sleeps in a factory floor On concrete floor for three years. Um, you know the way he makes rockets land on their butts I I bought um in full disclosure nearly four years ago at tesla x And uh, I've got fsd and everything else The within a day or two of buying that car. I said, you know by the car Um, I bought a bunch of coal options because I was so blown away and I've been driving bmw's for a quarter of a century exclusively I was just Absolutely mind blown and the rest is history. So Tesla is a very special thing. Everybody needs a little bit of tesla If forget everything else forget the risk forget don't believe the fud Get a little piece of tesla and they do also have a five one stocks But probably five four and coming up in august Perfect or money. I'll take it. All right, good deal. And then so then this one. Hey james. How you like in those california taxes Are you still in california? Are you out of there? Uh, I don't disclose where I live. I bounce around I bounce around a bit But yeah, you know that when you look at new york Illinois california They're they're shooting themselves in the foot because it's it's not easy for People to up and leave But you look at the people that pay the majority of the taxes they've all gone Like the larry ellison's of the world and the elan musks and you know the super wealthy vcs They will bounce over to where you are in texas and the carolinas and florida and Nevada all these places. So They need to fix that Big time or else they'll have no taxpayers left. No, no, no, they're doing a great new york's doing a great job I I like how they tax everybody and then they are they I believe they just passed a bill to ban some sorts of bitcoin mining. I'm not sure if it's all of it And that's great for texas. I welcome all the the bitcoin miners to come here. We have got a great state Also, we've got to play a natural gas wind and solar. So come on down. We're building like crazy. Can't wait to see By the way, I do have a personal question a good friend wanted you to ask guy And that is it's like twofold one is the uk becoming more crypto friendly and two Did they make you take down your posters in the subway? Oh interesting interesting. Yeah, it's it one is very much related to the other Yeah, the uk is is making noises the the treasury uh earlier this week Was making noises that it was it was considering sort of stepping in to rescue stablecoin companies that might go to the wall in you know, this is obviously In the wake of of us t which was which was a positive noise, which was which was very good to see Some sort of there's there's disconnect between Between the treasury and I think other branches of of the legislature. I mean Rishi Sunak the chancellor is is an interesting figure because he is he is the tech bro incarnate So a lot of us kind of thought that he would he would be the sort of person to To you know to not only understand crypto, but also to be you know, most likely to sort of try and And open up open up the country to it and He has been making noises in that direction Part of the problem is that Rishi Rishi Sunak's brand has been really trashed in the last in the last few months revealed that his uh that his wife who is Absolutely Absolutely loaded Is a non-dom so is not paying any tax on the vast dividends that she Um gets from her father's firms so Yeah, his he's kind of a little bit in retreat at the moment keeping it quiet But yeah, I I do get the sense that the UK the country is trying to They are trying to come to terms with it They they are beginning to realize just how important it is and and what an opportunity it is to you know To open up to to crypto companies and crypto in general um But we weren't forced to take our adverts down. No, but they they sure as heck made it difficult for us to put them up Um, which was very frustrated. They they they were insisting that we put uh in large letters at the bottom You know, this crypto is a speculative asset and under crypto currencies are unregulated etc etc etc And you know, they just wouldn't understand that we you know, we're not a we're not a cryptocurrency You know coin bureau doesn't issue a coin or token or anything like that We're a we're a media company. We talk about crypto currency, you know, so but they they couldn't get their head around that They they assumed that we were offering some sort of some sort of, you know, man themed mean something like that So it was uh, it was a bit frustrating. But yeah, they um, they stayed up. They stayed up We we managed to get a discount on on the uh on the sites because it was on the tube and obviously it was locked up And so football was decreased Yeah, it was it was a real saga, but it was an interesting one kid. It's certainly eye-opening Geez Louise. See this is why it's it's so paramount to have education and the bright people in the right job for regulation And that only comes through knowledge because we just saw what it is. All right Guys, we're going in pretty late or pretty long. There's a couple of last ones and we'll get out of here Because I know you guys are busy This last one here You guys just I know you just did a video on this one guy luna 2.0 What do you think about the future of new luna 2.0? And I think this is an example for everybody I got wrecked in luna and usd and now got the new luna 2 airdrop. Is it worth holding on to? Or sell and get the money first of all can't give any financial advice for not financial advisors, but if it's you Let's start with james. If it's you james, where do you go with this if you get a free airdrop Always passion your airdrop immediately And buy something with true value. So that's my take the luna 2 is going to be tarnished forever It is a destroyed brand. Nobody will ever trust it again Take your money and run not financial advice So guy, what do you what do you got a little bit more? I echo those sentiments a hundred percent Including the not financial advice. Yeah. Yeah, it's I I've got no time for luna 2. You know, we've luna has luna has happened a lot of people have Experienced a lot of pain We need to we need to learn the lessons and move on and you know, one of those lessons involves not not going near You know luna 2 whatever whatever it's planning to do or not do. Yeah, I'm uh, I'm yeah If you get the airdrop sell it buy something buy something good Yeah, and uh, that just leads to the last point and it's about because a lot of people lost a lot of money I've seen it in my comments in my emails and twitter just remember Like we talked about we we talk about taking profits But it's super important that you do those things along the way because even I lost out. I dollar cost averaging into luna Since march I sold a bunch in november But I started up again in january and I showed exactly how much I lost on my twitter account And it was not nice, but it is because we get greedy. So make sure you're doing your research as best as possible and taking those profits and that Is it so? Gentlemen, I want to say thanks again for stopping by. I really do appreciate it If you guys uh a link in the link in the description There's a link to guy at curem bureau, although I must say you probably subscribe to anyhow James is the same way if you watch my channel you probably watch james But if you don't there's a link in the description also to his patreon and also to guy's new channel Coin bureau clips gentlemen Thanks so much. Thank you guys and thank everybody in the audience too Every yes for watching everyone and thanks so much for having me. I uh, yeah, uh real honor. Thank you Huge pleasure. We're working our poetry as well for next time Right on I need to go away and write one for you now, james. All right. Nice. All right guys. Enjoy the weekend. I'll see you Have a great weekend everyone