 Welcome everybody to the Sunday live stream. So today we got a lot of things to go over. So let's just jump right into it, huh? So of course, like the thumbnail and title suggested, this is going to be somewhat of a bullish video. Now, don't adjust your screens. Don't report this as an AI scan video. This is really me talking about things. There's three things I'd like to go over. One of those things is that this, you didn't miss out on anything. They did not miss out on the phenomenal gains. So I know, yes, maybe you missed the bottom and that's okay. No one's going to totally nail it and sell their kidneys and kids and houses and go all in at the very bottom for every type of thing. Doesn't happen. Maybe somebody got lucky, congratulations to them. But for the reasonable people, such as ourselves, you didn't miss anything, but you just missed some relatively decent deals. And the second thing is this, is that when we're gonna talk about going into crypto and going into Bitcoin and lump summing all that stuff, you're gonna be down at some point. So just know that not every day is going to be a green day. How far down can you go and take it is up to you. I can't tell you what to do. I'm not your dad, I'm not a financial advisor, but I'm telling you right now, at some point you will be down. And that could be 10%, that could be 40%, that could be up to 50% or more. Just know that these things can actually happen. If you understand that, then everything will be okay. And the last thing I just wanna talk about is this is something that I get lost into. I get lost in the sauce. It's called paralysis by analysis. So I want you just to do something today. And of course, do whatever you wanna do, but I want you to dare to be dumb. And that essentially has what has helped me throughout my investment career, daring to be dumb. And not trying to realize that you can take a look at all markets and know exactly where things are going based on this analysis and that and that piece and that piece, because for every piece of the puzzle you put together, guess what? There's another piece that you had no idea was actually happening. And there's things that you will never know are actually happening behind the scenes. So just give into the great beyond and say, you know what, I'm just gonna go with it and go from there. So this was a tweet that I put out today, which is essentially the same thumbnail that I put out because sometimes I get kind of lazy, especially on the weekends. And I said this, I go, look, get in now before it's too late. Now I know most of us have already gotten into it, and that's fine. But I said in honesty, and this is the same thing that happened in 2017, or excuse me, in 2016, it happened in 2020 and it's happening again in 2024, is anybody going to care if you got in? Now I know a lot of you didn't get in when Bitcoin was below a dollar. Did anybody get in there below a dollar? Raise your hand. I didn't think so. So just know that the best time to get into the crypto market was probably when you were in high school. And that didn't happen, but here we are. So I just said, look, will anybody care if they got into Bitcoin below 30K if the price is whatever it is per Bitcoin? And Mike Mad says, loving the bullish rob. And yeah, people love it when I'm bullish, but just be aware that I am cautiously optimistic. And I said, like I said, look, it's time. We could see, and remember, like I said, you're gonna be down at some point and we could see on their black swan event. We could have another pandemic. We could have World War three. We could have some crazy things happen in the American presidential election. I don't know, aliens could come down and destroy continents. I have no idea, but things will happen. So we could see on the black swan event like Corona. And I said, but it's so what? At what, at that point when everything is going in the toilet, like 50% or lower, most people are too busy filling their pants to actually do the smart thing and go all in. I don't know how many of you like sold your house and went in on Bitcoin when it was $3,500 back in March of 2020. If you did, congratulations, but it usually doesn't happen. And it's the way it comes down to. So this is why I think now is the time. Let's take a look at history. History, historical facts, history. We're gonna take a look at three different having events, 2012, 16 and 20. 2012, the having was November, 2012. 2016, it was July, 2016. And 2020, it was May 11th. So I couldn't find this, the historical data on CoinGecko, I had to go to 99 Bitcoins. They're like one of the few that actually recognize or chart the different historical data that belongs to Bitcoin before 2013. So again, if we're taking a look at November of 2012, I just want you to notice one thing is that Bitcoin back here was four bucks in 2011. So let's come back. Let's go, what's the day, the fourth? It was six bucks. It was $5.92, $5.92, which is a pretty good time, probably to go all in. I think this is one I think we'd all agree. But you'll notice that if it went all in, it went from $6.592 to 419. You would be eating crow right now because you're like, oh man, I lost like 20%, 25, whatever it is. I'm down. This is awful. I knew Bitcoin sucked. It was a scam amount and you sell. Okay, you can do that. But just know that if you went all in here, did some lump sum action, went all the way over here to roughly November, 2012, it's at 11 bucks. And you will notice that moving forward past the halving event, it did pretty darn good. And it went up to 20 and all the way up to 1,000 or whatever it was in 2013. Great. Same thing over here in July. Again, this was the halving year, July, 2016th, right? So if you would have got in around, like I said, like right now, February, you're paying 373 bucks. Go all in, right? But at some point you're like, hey, hey, hey, am I gonna go down? I'm down a little bit here. Or maybe you get in or up up here, which is not a good idea. So you come over here to July, I think it was July 9th, somewhere around there, buy the rumor, sell the news. And of course it drops down, but I want you to notice something, even this big drop at 517, if you had gotten over here and gone all in, you're still up, just like you were up over here. Now let's take a look at 2020. Again, in May, if you would have gotten in around, I'll come in all the way back here, let's say you got in at February, you're paying $9,000, $9,000 bucks. What happened? You're thinking you're pretty a genius, right? You got a $9,000, comes all the way up to 10-2, you're like, ah, just like I exactly expected. And then we had what? Coronavirus. And it goes all the way down here. And a lot of people sold. Now, I can't tell you what's gonna happen. Maybe we have something that happened that is awful. You're gonna lose at some point. You're gonna be in the red and you're gonna think you're a moron. You're not. All you gotta do is just stick around and just like everything else, it comes back. Now, if we didn't have a global pandemic, I don't care if you think it was real or not, that's not the point. The point is we're talking about numbers. If you just do like, I'm not a TA person, but if I could drill a line, it went pretty much like this. And then off we went to the great beyond and that's what it looks like. So that's pretty good. So again, the question is, did I miss it, Rob? Did I miss it? You didn't miss squat. You're doing just fine. So let's take a look at, let's do a little DCA simulation. Let's steal all of Ben's information as we possibly can before he catches us. So, wouldn't it have been a great time to get in the last cycle around 2018? Absolutely, but you didn't. Mostly you didn't. Some of you did. I was one of them. And I was dollar cost averaging. Well, let's just say for example, I got into 2018 and I got into some of these legacy type of cryptos, the Bitcoins, XRP, Chainlink, Doge, Ada, BNB and I lump summed a thousand bucks in here. You've been doing pretty good actually, right? Cause that's 2018. That's like at the very bottom of the bottom. And I wanna show you, this is why I wanted to show you this because you're investing in November 26, 2018, roughly the bottom of the cycle and you put a thousand bucks in, congratulations. You timed the bottom perfectly, roughly. And it became over here. How'd you do? You crushed it. Congratulations. Now, the question is, did you sell? I don't know. That's the bigger thing. But even doing all this stuff and talking about it at Bitcoin, you're up 15 X. Ada, you're up 44 X. Solana, which just came out not too long ago. In 2020, you're up 52 X. BNB, you're up 136. Chainlink, $168,000 in Dogecoin, which has been around since 2014. You're at $300,000, congratulations. But that didn't happen. Usually what happens is, what if you just did this? Let's say you put a thousand bucks in on 2019, right? You're doing pretty good. And this is what I'm telling you. You're doing great, you're doing great. You're a genius, you're a genius, but then watch what happens in March, you're down again. You're down because there was a global pandemic. And here we are, you're down 38%, excuse me, 30%, 28%, 21, 20, and 13. But even if you did that and just waited it out, look how well you did. Even if you, you know what? Let me change this a little bit. Let's do 2020 and let's pick today, February 4th. And you had lump summed in a thousand bucks today, which was the last, the last halving. You're down, you're down big. And then all of a sudden things just turn around because guess what? It's not a big deal. Because in March, you lost 46% in ADA. You're down 42% on Bitcoin, 38% in XRP, 38% of BNB because who knows? But all's yet to do is just hang on and here you are again. It's the same thing. You didn't miss anything. You're up 6X on Bitcoin. On an XRP you're up five, almost the same amount. Avax8X.10X, link 18, 31, 32, 50, and 231. And that's if you went, that's if you did essentially right before the halving, a couple months before the halving, two or three. Now let's say Rob, I don't have a thousand bucks. I don't have 9,000 bucks hanging around. I got you, no big deal. How much, you got 25 bucks? That's where I started, 25 bucks. Same thing, February 2nd, 2020. Did you miss out? Yes, you did miss out because you didn't time the bottom. That's okay. Again, that's okay. 25 bucks, I'm going in. Eh, I'm down, wow, I'm down 46% again. That sucks. Damn, this coronavirus. That's all right. I'll just keep dollar cost averaging going in and going in and going in. And then we get over here. Hey, not too bad. Bitcoin again, I'm up 6X for 25 bucks a day. Okay, 25 bucks a day seems kind of high or whatever. Maybe it's 10 bucks. You get the point. X or PM up 9X, BNB up 32X, ADA, 36X, Solana 41X and of course Dogecoin 220. And if I didn't do anything, it just hung around to this point. Let's say I'm in a coma. Let's hope not. And I'm just like, I've got the sell. Guess what you're up. You're up 100, you're still up 119X on Solana. You're up 47X on Doge, on BNB and ADA and so on and so forth. So again, do I think that you lost anything? I don't think you lost squat. I think that you're in the right place at the right time and I don't want to hear anybody like saying, ah, but this guy told me not to get in and that guy told me and this thing, take responsibility. It's time to take action or not. I'm not your dad. I'm just saying for right now, me personally, I lump some of a big chunk, chunk of change into Bitcoin and some alts just yesterday. And I expect it to go down. I expect to be in the red. I'm okay with that because my time horizon is a little bit longer. Anyhow, let me know what you think about that in the comment section. I think everybody's lucky. I'm glad everybody's here with me and let's see how things go. So that'll take care of the news part. Now I want to do just a little bit of a deeper dive on this question. And this question came out from CryptoT. Don't follow CryptoT, very entertaining lady on X and she's really into of course Bitcoin and I follow her interesting stuff. But there's this question and I had alluded to this a couple of videos ago and the question was this. She says, I was speaking with a co-developer for a bank and I asked him about Bitcoin. He said, the idea of losing all your money from a hacker corrupted hard drive is not worth the risk. I said, that's why you don't store your keys on a computer. Pretty good response, right? But he said, hey, so you're telling me the future of digital finance is essentially the only thing I do is use a pen and paper and that's the future. And she's like, I kind of got stumped on that answer. And then there was a lot of different people coming back say, hey, this is okay. This is what you should say. This is what it is. And I was like, yeah, yeah, yeah, it's pretty good stuff. And it bothered me. It bothered me enough to really start to think about how I would answer this. And it brought me up to like an updated version of how I explained Bitcoin to people because I'll be honest with you. I'm really tired of talking to people who don't know about Bitcoin. Like I said, I'm like a lazy outfielder. Like if it's a pop fly, I'll put my glove up and catch it but I'm not gonna run something down and do a dive and catch. You gotta come to me. And that's why I defer to smarter people. This is Jeff Booth. And it was actually a tweet. It was a good tweet from the VEC. And I linked his, also his ex-account in the description as well as CryptoT, follow both of them, very good stuff. And he says, you got nine seconds to orange pill the world. And Jeff Booth said it perfectly. He goes, if you don't hold Bitcoin, your prices are going up. If you denominator Bitcoin, prices are coming down. I was like, that's pretty genius. And of course to make this very simple, we always take a look at how inflation is slightly robbing you. If we take 20 bucks in 1980 and compare that to today, you get way, way, way less in your shopping cart or whatever you're buying. Even, I mean, don't even get me started on like fuel costs, right? But if you did Bitcoin in 2011, you could probably get a, you know, like we just talked about it, stack of groceries. If you did that in 2021, you get a nice $67,000 car. Whoever's buying that, I don't have that. Or maybe in 2030, you buy a house because you know, the inflation rate's gonna go crazy. And speaking of which, what Jeff said about denominating in Bitcoin, there's a great website we've talked about before, priced in Bitcoin. And I like it because you can put everything into Bitcoin, denominate that against the fiat or cash, and you can put it into Sats or Bitcoin itself. And one of the best examples, and it's got everything. It's got everything from like the S&P 500, to precious metals, to Dow Jones, to orange juice, everything. And I link that in the description as well. You can check it out. So if you want to orange pull your friends, but like this, like a new house in 2019, a new house in 2019, cost you $320,000. And that same $320,000 in 2019 would have been 93 Bitcoin. Now today, that same house is 418,000, and it costs you less than 10 Bitcoin to get away with that. Same thing here in gold, in gold announced, and back in, oh, this is 2019 as well. It would cost you $1,300, $1,320, and it would cost you 0.38 Bitcoin. And of course now, it costs you 0.05 Bitcoin, and even though the price of gold has gone up, which makes me come to my next point, which is this. When we're talking about getting into Bitcoin, you're always gonna, the people are gonna say, yeah, but you know, people tell me not to buy it. I mean, and these like respected people in the industry, now I know everybody's laughing right now, but don't laugh. A lot of people watch Jim Cramer. A lot of people listen to Peter Schiff. I don't know why, but they've been telling the same nonsense for years. Look at Schiff. For Pete's sakes, he's been saying this for a decade before he had gray hair. And gold was $1,700 in 2020 or $1,700, now it's over 2,000, so congratulations. I hold gold and silver. I don't see the problem with this. Hold gold, silver and Bitcoin, I don't get it. But look at this price, this is ridiculous. And these titans of industry are telling you not to do it, morons. Well, they're reasonably smart, but I think they have underlying conditions why they wanna do that. And Preston Pish says that perfectly. And this was from simply Bitcoin. He talks about, if you're an investor versus a speculator for your timeframe and of course the risk that you take. And I'm gonna play this, because it's just so good. It's a minute long. I want you to listen to this. And I think this will help kind of like shift your view on things. So let me make sure you can actually hear this perfectly. With the crispest of clear, smooth audio that I can provide. Take a listen, this is about a minute. And just so you know, Preston here does talk extremely fast, I can't help that. That's just how he is. Listen to this portfolio construction. Because Bitcoin operates in four-year periods of time with the halving event, okay? I believe that if somebody's buying Bitcoin and holding it for four years, plus it's an investment. I think anything under four years gets more speculative, especially if you start going under a year. So let's just say you take any four-year holding period over the last, since Bitcoin had a price, then you compare that to the S&P 500, but you do it by adjusting your sizing, like they preach in business school, right? So listen to these two different portfolios. Portfolio one is a 2% allocation to Bitcoin, 98% cash, and you compare it to 100% allocation. The second portfolio would be 100% allocation to the S&P 500. Your performance is better with the 2% Bitcoin allocation. You can pick the four-year period of time. It doesn't matter if you pick a top and you go back four years, or you pick a bottom and you go back four years, or somewhere in between. You can pick any four-year period you want in Bitcoin's history, okay? And compare that to a four-year period in the S&P 500. The performance is gonna be higher around 50 to 80% annualized compound annual growth rate with a 2%, okay? And your volatility is only 1.4% annualized, okay? It's similar to the S&P 500. You're about a 50% annualized performance with the S&P 100% and the S&P 500, but your annual volatility is 20%, which is 14 times higher than a 2% allocation in Bitcoin. I think this is so important for portfolio construction going into 2024 and into the future. Yeah, so a little bit quick, but it makes sense though, right? And there was another video that he did. I'm not gonna play it, but he said pretty much the same thing we talked about four years. And he goes, if you take a look over four years, it's gonna outperform everything. And of course there's gonna be massive dips here and there, but that's just exactly how it is. So when I take a look at this, I'm like, well, that makes total sense. So then, and actually it makes total sense for me personally. And we talked about this a couple of weeks ago. Here's a prime example of me thinking I'm out, I'm the genius, which I am definitely not. So me and the wife bought a condo here in Puerto Rico and it was an investment property, worked out pretty well, $260,000 in cash, how it goes, right? So you pay a quarter of a million dollars essentially and we bought this on July 24th, 2020, roughly where that big white arrow is, right? If I would have put that money, $206,000 into just Bitcoin, again, for your cycles, for your timeframe, I still would have beat everything. And this is the time, this was right after the having, it would be worth almost $1.8 million at the peak. And if I would have screwed up and like not sold, guess what? It still would have been worth $427,000. And if I would have sold on the bottom, which, hey, everybody makes mistakes, that's a bad one, but I still would be doubled my investment. And if I would have held out because again, I just, you know, dumb and just didn't do it, it'd be worth like roughly $1.1 million. So even though, yes, the investment's done quite well and we've done pretty well on short-term rentals and I just would have put in a Bitcoin, that's it. Now, does that mean you put everything to Bitcoin? It's not what I'm saying. I'm saying this is what I should have done and I did not do it. And that will lead me to the last couple of points, which is this. People are gonna complain about Bitcoin, about the amount of energy usage it does and it's destroying the country. And like I said before, they have a point. Bitcoin does actually use a lot of electricity. It's true. And actually it uses a little bit more than Poland, Malaysia, Ukraine, Pakistan, Norway, but a little less than South Africa, Thailand and Vietnam. So that's good. But you have to remember this. Bitcoin miners also do a pretty good job of using wasted energy, such as flaring, which is for natural gas. As it comes out of the ground, they have to flare it all out so they can put the pressure down. I don't wanna get into it, it's boring, but Bitcoin miners can actually tally up to this and they can capture that waste of energy and use that to power the Bitcoin miners. And of course, that's also good for the environment, right? Flaring is not good. And then also, and this was a correction I had to make. I read most of my comments and someone said, hey, this is now at work. So two things on energy. First of all, in the great side of Texas, where I'm from, Bitcoin miners, they get to use either excessive energy or energy that they have a deal with the state of Texas and they actually shut down usage during peak times. We all know about this, right? If it's too cold and it's freezing, they shut down, they get to use it. If it's too hot, they shut down, they can put it to the places where it actually needed. And of course, they get paid, but they also get to stimulate the economy by buying all of this electricity that may be excessive. And then this is from the EIA, the Energy Information Administration. More than 60% of energy used for electricity generation is lost in conversion. I was incorrect about this and I will correct my mistake, which is this. As far as conversion, they're talking about the conversion from coal to burning coal and putting that into electrical usage or for natural gas and putting into electrical usage because you can't just go from one to the other. You have to actually convert it. 60% wasted, gotcha. Which is essentially what they said over here in the EIA in the top right-hand corner. So yeah, you're gonna lose that in 60%, that's for everything, right? But remember this, transmission and distribution, essentially getting to the area, especially if they're far away from the centralized electrical power usage, it's 5% lost. Consumer wiring and devices also are 5 to 90% lost as far as useful energy. So I know we talk about it, but I think it's a pretty good thing that Bitcoin miners are doing and they're very efficient because it's efficient for them. The less money that they have to pay for electricity, the better off they are and more profitable. And lastly, and we talked about this, I'm just gonna play this video. It's about two minutes long from Bitcoin Shooter. It's about how even if Bitcoin mining for some reason gets shut down in the United States, which I wouldn't be surprised because we're kind of dumb. And this could actually, you know, Elizabeth Warren and all the different haters out there that can do all this stuff. It'll just move someplace else like Africa. And this is why, this is a beautiful thing. So listen to this, it's about two minutes long. We've already shown this before, but I wanna make this crystal clear. Again, let me make sure you can hear this in the most crystal clear of audio. Again, two minutes, not the whole thing, but take a listen. This is why it doesn't matter if it gets shut down in Africa, if it gets shut down in America, North America, or Trudeau wants to get rid of it or Biden wants to get rid of it, whatever. It's gonna go someplace else and it's gonna be useful, it's gonna be great. Take a listen. 400 million Africans live without electricity, but that's changing. I have three kettle. When using a machete for chopping that pot, I'd have used two or three hours to chop enough food for my kettle. But with this, 10 minutes, it is very fast. Time is so important, most important, most important. Our kids have improved in their studies. They couldn't study well because we were using candles and kerosene, which will damage our eyes because of the smoke. And we also see the benefit because we charge our phones well, we watch TV, things have been perfect, a comfortable life. Wow, amazing. How did they get power? It starts with naturally running water, which feeds into a hydro power plant. Problem is, it's normally not profitable to build a rural power plant like this. My name is Thomas Pumans. I'm the co-founder and CEO of Hydrobox. We produce power for the local community. This site is located in Moranga County. That's in central Kenya. We were producing power, but back in the day, only able to sell 40%. And of course, economically, that doesn't make any sense. I got to know Eric, and I was talking to him about our challenge. We said, okay, what if we came in and we gave you 100% usage right away? Our job at Gribless is bit clean mining. We'll walk in a 20-foot container with 130 miners in it. We turn it on. All of a sudden, their finances are different, just like the villager who's getting electricity for the first time, and now they can envision a different future. Same thing happens with energy providers. Immediately, they can start thinking about the future, and they can start thinking about, oh, there's that other site I wanted to go and energize. I have been able to get them... Whoops. Turn off. But anyhow, what we're just talking about there was, and the same thing they're going to do, they're going to say, yeah, you can actually go there. You can actually produce that energy, and then you can go to anywhere else you want to. And then the founder of the Hydrobox said, yeah, that's essentially what we're doing right now, and there's 80 different locations where we're able to do that and become profitable. So in that situation, again, I understand how people would say, ah, electricity uses it so much, but when we take a look at the nuances of it and get behind it, we're like, oh, it's a little bit different. So that would lead me to the last point, which is, well, illicit activity, I don't want to go over this because it's just ridiculous. Elizabeth Warren, JP Morgan, they say the same thing, and of course we know that illicit activity, yes, there is some that's done, it's like 0.24%, but of course the dollar is the big one, and of course JP Morgan's going to go on all the different news publications and say how awful it is, but again, here's JP Morgan and their glorious history of following the rules, and if you're in glass houses, maybe you shouldn't throw stones. And yes, Damien Alls said he'd shut it down. Good luck with that. There's over 150, or sorry, yeah, 15,000 nodes already, 16,000 roughly across the entire planet. And that's from every North America, South America, Europe, even Africa, China, Russia, and all those things, those are nodes. And of course they can look at Bitcoin operations or mining operations. It's centralized, I have to say, well, the miners, that's not true. Miners have told me I'm incorrect. Even though there is a massive hub of the main Bitcoin miners, remember, if you're a Bitcoin miner, you can connect to any of these different operations and pick and choose as you see fit. So even though like, oh, you know, in China, where they supposedly shut it down, looking pretty good so far, and it's big into North America. So that would lead me to the question, the original question I had from Crypto T, the question that she was asked, how is this going to be a digital finance revolution when you want me to use a pen and paper? I thought about it, I thought about it for a long time. And I thought, you know what, it's an eloquent solution. Because think of it this way. If we take a look at all the different people that are, just we just took a look at it. The different people that are in Africa, different people in Afghanistan, different parts of Central America, different parts of Asia, they are unbanked, 1.4 billion people. And that's adults. I know there's roughly 8 billion people in the world that we know about. So a quarter of adults are unbanked. They can't use a bank. But guess what they have, just like we saw in the video, 6.8 billion people have a smartphone. So yes, I understand that it is expensive to get a ledger, to get a tangent, to get some new devices, whatever the heck this thing is called, from Jack Dorsey and his new cold storage device. But you can do two things. You can use a paper wallet, works, still works. You can use a hot wallet, you can use a phantom, you can use MetaMask, even though I despise MetaMask, you could still use it. And of course you can write these things down and you have it within your possession. You can use it all over the country, to just a paper, to have the savings in your back pocket, all the way up to Jack Dorsey's new whatever cold storage device and everything in between. And of course, yeah, we can use lightning and it's a heck of a lot cheaper than Visa. Also, if we take a look at between Solana and, you know, ZK Rollups on Ethereum, lighting actually works pretty well. Now, I'm not going to hear the debate but the answer to the question is, yes, this is the next evolution. And yes, you can, it's an elegant solution for everything that we have. You can use it on paper, you can use it digital, you can use it on your phone and everywhere else to bring people into 20th century, 21st century savings, payments, remittances and everything in between and the benefits that is banking. And that's it for today. So look, I know that a little bit along, this section of the news. If you want to stick around, we'll do a little Q&A. A lot of great questions in the comment section and we'll go from there. If you've got to take off, take off. Thanks so much for stopping by. Appreciate you.