The FEAR and TREPIDATION of buying bitcoin on sale, with your last pennies (or gold or silver)!

the fear and trepidation of buying
Bitcoin while it’s on sale. I want to
walk you through my personal emotional
response over the last 24 hours to the
decision to sell the small amount of
gold and silver I have back from 2017
and convert that 100% to Bitcoin because
the emotional response I’m going through
is probably the same one you are going
through and it’s the same one millions
of other people are going through. But
it’s also the reason Bitcoin will always
eventually be higher. Okay, so I’m
chilling, cruising along. I’ve got my
allocation just the way I want it. I’ve
got a 100% of my liquid assets in
Bitcoin. The only thing I don’t have
that’s in Bitcoin is a little bit of
gold and silver from 2017. But that’s
not even a liquid asset because it’s
such a pain to turn gold and silver into
or out of any other currency. So, I
don’t consider gold and silver uh liquid
assets. Plus, I don’t own enough gold
and silver to make a material dent in
the amount of Bitcoin I own. So, I’m
cruising along. Everything’s fine. And
Bitcoin dips and it dips down to 105,
106,000, 107,000. It does it a few
times. I’m fine. I’m still happy. Like,
I’m still happy. I’m happy with my
allocation. I’m cruising along.
Everything is fine. And then Bitcoin
starts dipping to 104, 103, 102. I start
thinking about that gold and silver. I
start thinking, hey, the market is being
really irrational right now. It’s
tempting me with on sale Bitcoin that it
should not be tempting me with. Clearly,
people are being irrational and being
dumb. I was fine with my Bitcoin
allocation, but if people are going to
be dumb about it, then I will take some
of that cheap Bitcoin off of the
marketplace, just like I have every time
Bitcoins dipped for the last three
years. Now, prior to the last three
years, I was mostly buying Bitcoin high.
I was buying it high because back in
2017 and 2018, I was new to Bitcoin.
When you’re new to an asset, you
typically buy it when it’s going up
because price is your validation that
the asset is working properly and has
value. So, you tend to buy it when it’s
going up. But once more than 50% of all
of my liquid assets were already in
Bitcoin, you start changing your
mindset. You are you start thinking,
hey, I have a lot of Bitcoin. Bitcoin is
a huge part of everything I own. So, if
I’m going to buy more Bitcoin once I’m
past 50% of my entire net worth, 50% of
all of my assets, once I’m past the 50%
mark, you kind of want to buy Bitcoin on
when it’s on on sale because at that
point, you’re like, “Wow, I have a lot
of Bitcoin. I don’t have a lot of other
stuff.” If I’m going to turn my not a
lot of other stuff into more Bitcoin
when I already have a lot of Bitcoin, I
kind of want it on sale. So, I’m
cruising along. the price dips, the
price dips, I start thinking about this
gold and silver the same way I did with
my 401k last year. Uh, Bitcoin was
hovering in the 60,000s and it kept
dipping into the 50,000s in summer of
last year. And so I started thinking
about that 401k I had at Bombgar
Corporation from 11 years of hard work
between 2003 and 2014. I had not
considered turning that 401k into
Bitcoin because I thought I was happy. I
had the allocation the way I wanted.
Things were going to be fine. But it
kept dipping. It kept dipping into the
50s. Finally, I was like, “Screw it. If
you’re going to keep dangling cheap
Bitcoin in front of me over and over and
over, eventually I will take that cheap
Bitcoin off of your hands.” And so, not
your hands. I know you’re not selling
Bitcoin, but some people are selling
Bitcoin, even though it doesn’t make any
sense. So, finally last year, it dipped
into the 50s too many times. And at
57,300573000
57,300 I converted my entire 11 years of
401k at Bombgar Corporation into Bitcoin
at a price of 57,300.
So obviously I’m like not quite double,
but I’m like way up on that entire 11
years of 401k. I did not intend to
convert that into Bitcoin, but it kept
dipping and dipping and dangling in
front of me. And eventually, look, any
sane person is going to say, if the
marketplace is stupid long enough, I
will take that Bitcoin off of the
marketplace. So, the same thing is
happening now. It dips just above 100,
you know, 104, 103. I start thinking
about that gold and silver. Then it
recovers to 107. I’m like, I’m good.
What am I even thinking about? It’s not
enough to matter. You know, having a
little bit of gold and silver is not a
bad thing anyway. Then it dips back 103,
104, and I’m like, oh, it’s going to do
it to me again. At some point, this
thing is going to keep dipping and it’s
going to make me go buy some more of it.
One second.
So, I started researching. I got some
quotes from ATMEX, the place I bought
this golden server back in 2017. And I
found out, of course, the fees are
ridiculous and all this sort of stuff,
but I start poking around. Well, last
night, like I don’t know if it was last
night, anyway, in the last 24 or 36
hours, whatever, the price dipped below
$100,000. And I’m like, I am done with
this. If people are going to be
irrational and stupid, then eventually I
will take their Bitcoin. That’s fine. If
they’re if people are selling Bitcoin
this low, I eventually will find a way
to take some more of it into my
possession so that I can allocate that
capital into the world for the rest of
my life. Mostly I give it away. You
know, I do Bitcoin education. I spend
$25,000 a month doing Bitcoin education.
I do a bunch of stuff. But if you’re
going to dangle cheap Bitcoin in front
of me long enough, I will eventually
take it. So after the price dipped below
$100,000, even though it recovered
immediately, I was like, I’m done. I’m
done with this gold and silver. So I
started calling around uh SD Bullion. S
is in Sam, D as in David. I don’t know
what it stands for. SD bullion uh
online. I got a good recommendation from
somebody who’s worked with them for a
long time, and they were actually
willing to give me a much better price
than AppMex, which is crazy. The place
you bought it should be the place that
gives you the best price to take it
back. Apparently, AppMax wants to sell
you, but not take it back. Well, SD
Bullion is uh has a lot better prices.
So, I’m going to ship all this gold and
silver uh which there’s not that much of
it, but I’m going to ship it all to SD
Bullion, and they will wire me money,
and I will buy more Bitcoin. What will
the price be of Bitcoin when I get that
wire transfer? I don’t know. But
whatever it is, I’m going to pull the
trigger. I’m not sitting in US dollars,
so I’m going to do it no matter what.
Now, the reason Bitcoin doesn’t always
recover immediately from dips is because
people like me don’t have immediate
liquid liquidity. Getting liquidity in
this gold and silver by the time I’m all
done with it is going to end up taking
like two weeks, maybe longer, which is
why it’s a bad money. It’s not a good
money if it takes you like two weeks to
get liquidity. Bitcoin, I can get
liquidity instantly, like boom. But, uh,
it is what it is. Gold and silver are
not, especially silver. Silver is a
horrible money. Gold is the next best
thing to Bitcoin, but it’s a massively
inferior to Bitcoin. So, because people
like me take time to get liquidity on
whatever assets are not already in
Bitcoin, that’s why it takes a little
bit of time to buy up these dips because
not everybody has instant liquidity. Uh,
once upon a time, I did when I was
buying with US dollars sitting in a bank
account. Yeah, I can get access to those
US dollars right away. I can pull the
trigger immediately. But as you get a
higher and higher Bitcoin allocation, it
gets harder and harder to find things
you can sell to get liquidity to buy
more Bitcoin. But I want to walk you
through the emotional response as well
because it’s it’s not just that. There’s
an emotional response to buying more. So
as it dips, I start thinking about the
gold and silver. There is fear and
trepidation that comes with thinking
about the gold and silver because any
asset you have that gives you
diversification is like a comfort
blanket, right? Right? I mean, it’s this
little thing that says, “Hey, even if
everything else doesn’t work out, I have
a little bit of this. It’s like an
emergency fund. It’s like an old 401k.
It’s like a bunch of this stuff.” And
every time you take one of those things
and convert it into Bitcoin, there is
fear and trepid trepidation that
accompanies the decision. Even for me,
who’s been in this thing for since 2017,
what is that like almost nine years now?
Eight eight plus years. We’re almost in
2026. Um, so since late 2017 all the way
till late 2025, I’ve been in this thing
more than 8 years and there’s still fear
and trepidation. When I ship that gold
and silver off for good, there is fear
and trepidation that it’s like, wow, I
went from like 100% of my liquid assets
to like 100% of all my assets. Like I
don’t I mean I still own my house. I
still have a couple of vehicles, my
daughter’s car, my wife’s car, my son’s
old van. I do own those. Those are not
financed. Um, so I have some assets, but
it’s not easy to refinance a car, uh,
for example. But with every decision
when you are buying Bitcoin and it feels
like, wow, it’s down. It’s down 20%. Or
it was down 20%. Now it’s not down as
much. Now it’s like 16 or 17% down from
the all-time high. But when you’re
buying anything that’s on sale, you’re
thinking, “Hey, it could go down more.”
Right? I mean, the the little voices in
the back of your head say, “It’s down.
It could go down more.” They’re saying,
“Hey, you’re parting with one of your
very last security blankets that’s not
already in Bitcoin. You already got a
lot of Bitcoin. Do you need more
Bitcoin? Why are you converting the tiny
infinite decimal amount of
diversification you have into zero
diversification?” Like, why are you
doing that? And the answer is because I
believe in Bitcoin and because the
marketplace is being irrational right
now. And if the marketplace is being
irrational long enough, some rational
person like me is going to go try to fix
it. And I’m going to go try to fix it by
taking more Bitcoin off of the market
from the people that are scared, the
people that don’t know what they hold,
the people that are trying to trade it
in and out of, you know, dips and
whatever. Forget that. I’m going to go
take that Bitcoin off the market and the
marketplace can have my gold and silver.
By by selling gold and silver into the
marketplace, I am shorting gold and
silver in the marketplace effectively
and in exchange I am getting uh more
Bitcoin. I’m not actually shorting it
because I don’t actually owe that silver
and gold back. When you finance
something with the US dollar, you
actually are shorting it. So I by by
financing my Tesla, I am shorting the
dollar. By financing my Sleep Number
bed, I am shorting the dollar because I
actually do have to pay those US dollars
back in the future when they are less
valuable. But I’m not actually shorting
gold and silver, but I’m demonetizing
gold and silver. When I sell that gold
and silver into the marketplace, or when
the dealership that I am selling it to
sells that gold and silver into the
marketplace, it will have a
microscopically
downward pressure on the price of gold
and silver in the marketplace because
someone who currently holds it will not
hold it anymore. Meanwhile, it will have
a microscopically upward pressure on the
price of Bitcoin because some Bitcoin
that someone doesn’t want right now, I
will be taking off their hands with the
proceeds of that gold and silver. But
again, I I want you to understand the
psychology and the emotional response.
There is no money you can buy Bitcoin
that’s not painful to part with. every
single dollar I’ve ever spent on Bitcoin
created some emotional response where I
was thinking, you know, this dollar is
an emergency, you know, access escape
valve in case something goes wrong with
my investments. So, sure, it’s losing
value and it might be losing value
between 4% and 9% per year, but it’s
still something. And when when you buy
an asset, especially an asset you
already have a lot of and you buy it
like I’m about to with proceeds from
gold and silver, yeah, you’re becoming
less diversified and it creates an
emotional response. It’s the same
emotional response that feels like
you’re losing a little bit of financial
security because you’re losing a little
bit of diversification. Now, in the long
term, I think I’m in a much better
financial position by owning more
Bitcoin and zero gold and silver. But
again, the the the emotional response
you feel is like somebody’s taking away
a security blanket. It’s like, oo, I’m
becoming less diversified. Uh even
though I have like almost zero
diversification, but that’s the way it
is. Nobody who buys Bitcoin buys it with
easy money. There’s nobody who’s buying
it thinking, I don’t even need all this
US dollars. I’ll just buy Bitcoin
because it doesn’t matter. Every dollar
you part with creates an an emotional
response. You’re trading one asset for
another. It’s hard. It requires
conviction. Trading out this gold and
silver for Bitcoin requires conviction
on my part. Just like my 401k that all
went 100% Bitcoin at 57,300. I’m glad I
did it. Just like the majority of my
charitable giving funds that I converted
to Bitcoin at $22,000 per coin. I’m glad
I did it. It’s the only reason I can be
as generous as I am right now because I
converted so much of my charitable
giving funds into Bitcoin back in 2023.
Otherwise, I would not have the
financial resources to spend $25,000 a
month on Bitcoin education and
onboarding. The reason I have those
financial resources is because I
converted so much of my charitable
giving funds at 22,000 a coin. At some
point in the future, I will have a lot
more purchasing power because the
Bitcoin I’m going to buy with the
proceeds of this gold and silver will be
worth substantially more than the gold
and silver would have been if I had held
on to it even after I finish paying
capital gains taxes on the gold and
silver and all of that. The Bitcoin will
still be worth far more. Uh but there is
fear and trepidation anytime you sell an
asset and then buy something else with
it. There is fear and trepidation. Even
for me, even if it’s relatively small,
there is some emotional response that
comes from that that feels like you’re
voluntarily giving up a comfort blanket.
It just is. And you got to have the
conviction to pull that trigger even
when you have that emotional response
because I have that emotional response.
And if I have that emotional response
after 8 years in Bitcoin, you probably
have the same emotional response
regardless of how long you’ve been in
Bitcoin. Especially when you have like
zero diversification like I already
have. So that’s the emotional response
I’m going through. Have gone through
now. I’m good with it. But that’s been
the the you know the emotional response
is like a bell curve. uh as I’ve started
realizing I’m probably going to buy buy
that sell that gold and silver for
Bitcoin. Then I get more and more
conviction to I’m going to do it, then I
get at peace with the decision and then
it calms down on the other end of the
emotional response with me just
deciding, yep, I’m doing it. I’ve
already decided I’m going to do it. So
now the fear and trepidation starts, you
know, tapering off because I’m like,
it’s a done deal. I don’t care what the
price of Bitcoin is. I don’t care what
the price of gold and silver is. I’ve
already decided I’m making that swap.
And when the dust settles, you know,
it’s got to take two days to ship to
them and then it’s got to take four days
for them to wire the money and then it’s
going to take another day for it to hit
my bank account and then I will buy more
bank more Bitcoin. But the emotional
part of that of deciding what I’m going
to do is already waning because I’ve
already made the decision. I made the
decision I was going to do it about
three hours ago. And so now I’ve just
decided I got to do it and all I got to
do is follow through, which is exactly
what I’m going to do. Uh, so anyway,
wanted to give you a an inside view of
my emotional response as I go from 100%
of my liquid assets into Bitcoin into
literally 100% of all of my assets other
than my house and three vehicles that
are not financed. Uh, that’s it. That’s
my whole 401k. That’s everything. As
soon as I ship this stuff off, I will
have zero precious metals. Uh, even
though I had very little to even start
with, I will have zero. And I’ll have
more Bitcoin, which is the best money in
the world. and I’ve got the conviction
to pull that trigger and feel good about
it when it’s all said and done. So,
that’s the last 24 hours for me. If
somebody dangles cheap enough Bitcoin in
front of me long enough, I will find a
way to take that cheap Bitcoin off of
their hands. And I hope you are doing
the same thing because Bitcoin is on
sale.