QUESTION: “Omg, 111k! Will you ever have a number?”…

00:00 to hear from just sent me a message and
00:02 they said
00:03 OMG 1111k as in $111,000 per bitcoin and
00:08 then they asked a question a great
00:10 question which is will you ever have a
00:12 number question mark well what do you
00:14 think they mean by that well what I
00:15 assume they meant is will you ever have
00:17 a number at which you will sell Bitcoin
00:20 my response was no and of course I’ll
00:23 spend or I’ll sell Bitcoin to buy things
00:25 that improve my the the life of my
00:27 family or myself um for example I talked
00:30 for quite a while about how I wanted a
00:32 Tesla and eventually the price of
00:34 Bitcoin got high enough, my confidence
00:36 in Bitcoin got high enough that I took
00:39 out a Trustmark car loan and so I didn’t
00:42 have to buy Bitcoin or sell Bitcoin and
00:44 I bought a 2026 Tesla Model Y and it’s
00:47 super cool and I love it. It drives me
00:49 everywhere without me having to touch
00:50 the steering wheel or the pedals. Like I
00:53 literally just sit there and then I
00:54 program the GPS and I hit drive me there
00:57 and then it like drives me there without
00:58 me having to touch anything which is
00:60 absolutely amazing. So yeah, I could
01:02 have sold Bitcoin for that but Trustmark
01:04 was willing to give me a 6% auto loan
01:07 and since I believe Bitcoin is going to
01:08 go up more than 6% a year, a lot more
01:11 than 6% a year. I took Trust Trust Mark
01:13 up on that offer and I took out an auto
01:16 loan and I bought a Tesla. But a lot of
01:18 things you can’t do that with. For
01:19 example, my house needs a whole house
01:21 generator because Energy cannot seem to
01:24 keep my power on to save their lives.
01:26 Um, but that cost $20,000, which is
01:29 right now at $100,000 per Bitcoin was
01:32 1/5 of a Bitcoin. At $110,000 is
01:35 somewhere between 1/5 and 16th of a
01:37 Bitcoin. And I don’t want to spend more
01:39 than one sixth of a Bitcoin on a whole
01:41 house generator. So $20,000 once the
01:44 price of Bitcoin gets to
01:45 $120,000, that’ll be one sixth. I’m
01:48 willing to spend 16th of a Bitcoin for a
01:51 whole house generator so I don’t sit in
01:53 the dark. Uh now my security systems are
01:55 all set up on battery backup so they’re
01:57 not affected but my air conditioner is.
01:60 And when the power goes out I’m uh dark
02:02 in the dark. I’m hot and I can’t take a
02:05 hot shower because my uh water heaters
02:09 are electric lit. Even though they’re
02:11 gas powered, they’re electric lit so
02:12 they won’t light. Um, anyway, so it’d be
02:16 nice to have all of those things and all
02:17 of the comforts of life when my power is
02:19 constantly going out. Uh, so I will sell
02:21 Bitcoin for stuff like that because I
02:22 can’t finance a generator, at least not
02:24 elegantly like you can a house or a car
02:26 or something like that. Um, but there’s
02:28 no price that I’m planning to sell
02:30 Bitcoin. And the reason is what would I
02:32 sell it for? See, anytime someone asks
02:35 the question, what’s your number? They
02:37 assume you’re going to sell back into US
02:39 dollars. But why would I sell back into
02:41 US dollars? Why would I move from an
02:44 asset that nobody in the world can make
02:46 more of to an asset that a handful of
02:49 people can make more of anytime they
02:50 want? So the goal is always to go to a
02:53 more scarce asset rather than a less
02:55 scar scarce asset. Increasingly the US
02:58 dollar is not a scarce asset. And
03:01 because it’s not a scarce asset, then I
03:03 absolutely do not want to trade a scarce
03:06 asset like Bitcoin for something that
03:08 the government just prints out of thin
03:09 air anytime they want, like the US
03:11 dollar. So, I’m willing to trade Bitcoin
03:15 for a whole house generator. I’m willing
03:17 to trade Bitcoin over the course of 5
03:20 years for a 2026 Tesla Model Y, which I
03:24 already did because I have to pay Trust
03:25 Mark back at 6% interest for the price
03:27 of that car over the course of 5 years.
03:29 So, I’m willing to plan on liquidating a
03:32 little bit of Bitcoin every month to
03:34 make that car payment. And I’m willing
03:36 to do other things. I’m willing to spend
03:38 Bitcoin so my family can travel. We
03:40 travel a lot um internationally and
03:43 domestically. And that is a worthwhile
03:46 expenditure of Bitcoin in my opinion.
03:48 Now, I also have get a paycheck. So, you
03:50 know, a lot of those expenses are paid
03:52 straight up with a paycheck. But
03:54 whatever amount is not covered by a
03:56 paycheck comes out of Bitcoin because
03:58 that’s the only source of capital I
03:60 have. Uh and then of course every time a
04:02 paycheck hits I buy more Bitcoin. Every
04:04 two weeks like clockwork I buy more
04:06 Bitcoin. But that doesn’t mean things
04:08 don’t come along like a whole house
04:10 generator that is not covered by my
04:12 paycheck and I got to you know have
04:14 source funds somewhere. So that comes
04:16 from long-term savings called Bitcoin.
04:19 Uh so anyway, so anytime you’re thinking
04:21 of selling Bitcoin, ask yourself, sell
04:23 it for what? You could sell it and buy
04:26 real estate, but a real estate has
04:27 property taxes, maintenance fees. Uh I
04:31 mean, real estate is really expensive
04:32 right now. Stocks are really expensive,
04:34 bonds are really
04:35 expensive right now. So I don’t think
04:38 any asset is worth, you know, there’s no
04:40 asset that I’m willing to worth trading
04:43 for Bitcoin because every other asset is
04:46 an asset that someone can make more of
04:48 or that’s not, you know, that’s that’s
04:50 whose price is significantly inflated
04:53 right now. So for stocks, every company
04:55 can issue more of their own stock. So
04:57 their stock is only as uh as scarce as
05:01 their management team decides to make
05:02 it. Uh same for bonds. every c country
05:05 or company can just issue more bonds
05:08 anytime they want. Um and the interest
05:11 rate just determines what the market
05:12 appetite is for that. Um for real
05:14 estate, people can constantly build more
05:16 real estate. They just can. Even uh
05:19 waterfront property, people are
05:21 constantly coming up with creative ways
05:23 to create more artificial land and
05:26 create more waterfront property. So
05:28 there’s nothing really scarce in the
05:30 world other than Bitcoin. And from an
05:33 absolute basis, gold is relatively
05:35 scarce. The problem is there’s a ton. I
05:37 mean, there’s just an insane amount of
05:39 gold under the ground and in the oceans
05:42 and on asteroids. It’s just really hard
05:44 to get to it. But at some point, humans
05:46 may find ways to get to asteroids and
05:48 mine gold on asteroids or find a way to
05:51 get the gold out of the ocean. And
05:53 there’s tons of it in the ocean in trace
05:56 amounts. If somebody found a way to
05:57 filter it out of ocean water uh from the
05:60 oceans, there’s a ton of gold there. Uh,
06:02 I’ve been told, I have not fact checked
06:04 that, but I’ve been told. Um, and same
06:06 with underground. There’s just a ton of
06:08 gold underground that for the right
06:09 price, you can go dig it up. Um, so
06:12 Bitcoin is the only truly scarce thing
06:14 in the world that is decentralized. It’s
06:16 not controlled by anyone. Nobody can
06:18 make more of it. There’s more than
06:20 100,000 people in the world with a
06:22 complete and total veto power over
06:24 Bitcoin. And I am one of those people
06:26 because I run a Bitcoin node, which only
06:28 costs you 500 bucks. is actually $430.
06:30 If you want to run a Bitcoin node, it’s
06:32 called
06:33 Umbrell website umbrell.com. That’s um
06:38 mbrl.com. You can buy one of those
06:40 things, plug it into your home Wi-Fi,
06:42 download the Bitcoin node app on it, and
06:45 you too will have a veto over anyone
06:47 changing the Bitcoin network. Because if
06:50 they change it and you don’t like it,
06:52 all you have to do is not upgrade to
06:53 whatever change they make. And it will
06:56 force the Bitcoin network. It’ll force
06:57 people that made the change you don’t
06:60 like to the core rules. It’ll force them
07:02 off the network. And so more than
07:04 100,000 people have that veto power,
07:07 including me. And I run two nodes. And a
07:09 lot of people I know run nodes. So, uh,
07:12 Bitcoin is the only truly scarce, truly
07:14 decentralized thing that you can be
07:15 absolutely certain that no one will make
07:17 more of. And so it just doesn’t make
07:20 sense to trade something that no one can
07:23 make more of for something that people
07:25 can make more of. Now one day when the
07:28 entire world has adopted Bitcoin as its
07:30 currency and Bitcoin is the only money
07:32 in the world, then yes, it will still go
07:34 up in value about 3% per year because
07:36 humans get 3% better at making stuff
07:38 every year. So instead of inflating away
07:41 over time, your purchasing power will
07:43 always go up over time. But if you want
07:45 to get more than 3% per year in Bitcoin,
07:48 we’re talking like 25 years into the
07:49 future between now and then, the upside
07:51 I think is radically higher than that.
07:53 But even when it is fully monetized and
07:55 everyone in the world is using Bitcoin,
07:57 the price of bit the value, sorry, the
07:59 purchasing power I should say, of
08:00 Bitcoin will still go up 3% per year
08:03 because that is human productivity
08:04 growth. And as humans gets better at
08:07 making stuff, the finite 21 million
08:09 Bitcoin that will ever exist gets more
08:12 and more purchasing power because
08:13 there’s more stuff you can buy with the
08:15 Bitcoin, but there’s not more of the
08:17 Bitcoin. So, at that point, let’s call
08:20 it 25 years in the future, yes, you’ll
08:22 need to invest in stocks and bonds and
08:24 commodities and real estate if you want
08:26 to get a return higher than 3%. Uh, but
08:28 right now, you don’t have to. If you
08:30 want a return that is better and higher
08:33 in my opinion than stocks, bonds, real
08:35 estates, commodities, and anything else
08:37 you could possibly invest in, in my
08:39 opinion, that return is available right
08:41 now in the form of Bitcoin, available to
08:44 everyone worldwide, tradable 24/7 in
08:47 every currency on the planet, and able
08:49 to be purchased. You know, you can buy
08:51 anything in the world. That’ll take a
08:53 Visa card with a Coinbase debit card,
08:55 which which you can set to spend
08:56 Bitcoin. Um or you can uh a lot of
09:00 people will sell you stuff just for
09:02 straight up Bitcoin without even going
09:03 through Visa or some other payment
09:05 provider. So anyway, do I have a number
09:07 at which I would sell Bitcoin? No, I do
09:10 not have a number because there is no
09:11 asset. The problem is a number indicates
09:14 that there’s an asset that I’m willing
09:16 to trade for. And a number when people
09:19 say a number, they presumably mean the
09:21 US dollar. Um the problem is I’m not
09:23 willing to trade Bitcoin for US dollars.
09:26 that’s not a trade I’m willing to make
09:27 at any price. And even if you said,
09:29 “Yeah, but what about at a million
09:30 dollars?” It’s like, well, all that
09:32 tells me is that the government has
09:34 completely inflated the value of the US,
09:37 you know, or they’ve inflated the money
09:40 supply, thereby making the value of
09:41 Bitcoin go way up. And if the price of
09:44 Bitcoin goes to a million dollar,
09:45 there’s no reason it doesn’t go to $10
09:46 million. At that point, the government
09:48 is so irresponsible. Why would I trade
09:50 it for a failing currency? Why would I
09:52 trade Bitcoin for a failing currency?
09:55 So, no, I don’t have a number. I do not
09:58 intend to trade Bitcoin for US dollars.
10:01 There is no number at which I’m planning
10:03 to convert Bitcoin into US dollars.
10:05 Although along the way, as my purchasing
10:07 power goes up with Bitcoin, I will do
10:09 things that improve the life of me and
10:11 my family. But that is not trading
10:13 Bitcoin for any specific number in US
10:17 dollars. That is trading Bitcoin for
10:19 something that improves my life and the
10:21 life of my family in some way. uh that’s
10:23 worth the price of worth more to me than
10:26 the Bitcoin I would hold that would have
10:29 to be swapped for that. So uh I don’t
10:31 have a number and I’m in it for the long
10:33 haul because Bitcoin is the best money
10:35 that has ever existed in the world and I
10:38 think will continue to take over and be
10:41 the primary and only money uh in the
10:43 decades ahead. Have a great night
10:44 everyone.