Does a war in the Middle East mean bitcoin is over? NO! Are you kidding me?!?

00:02 hey everyone so there is conflict in the
00:04 Middle East as I record this israel is
00:07 bombing Iran to the best of my knowledge
00:10 based on a quick glance at the headlines
00:12 and Bitcoin is down at $13,000
00:16 or so does this mean Bitcoin is over
00:19 come on everybody seriously of course it
00:22 doesn’t mean Bitcoin is over this
00:24 happens every time people freak out uh
00:27 Elon Musk and Donald Trump have a spat a
00:29 week or two back the price of Bitcoin
00:32 dives down to like $101,000
00:35 and the price recovers within like 48
00:37 hours because people figured out oh
00:40 Bitcoin has nothing to do with Elon Musk
00:42 or Donald Trump neither of them control
00:44 Bitcoin neither of them control whether
00:47 the world needs a monetary asset or
00:50 whether the human race is going to use
00:52 money at some point in the future that
00:55 just has nothing to do with the Elon
00:57 Musk Donald Trump spat okay so same
01:01 situation here uh which is okay you got
01:06 a conflict in the Middle East we’ve
01:07 actually seen this before this is not
01:09 the first time twice now uh the first
01:12 time I think it was Hamas attacked
01:15 Israel i think it was in 2023 like
01:17 October 11 of 2023
01:20 and then again you saw this I think it
01:21 was August 5th of 2024 there was Middle
01:24 East conflict in both times the price of
01:28 Bitcoin took a big dive as everyone
01:30 freaked out and then it took all of a
01:33 matter of 24 to 48 hours for people to
01:36 realize oh wait this has nothing to do
01:39 with Bitcoin of course it has nothing to
01:41 do with Bitcoin it’s not like Bitcoin
01:43 runs on a bunch of servers in the Middle
01:46 East bitcoin runs on more than 100,000
01:50 Bitcoin nodes in every country and every
01:53 region spread all over the world and
01:55 nobody controls any of them other than
01:57 just whoever happens to own that one of
02:00 more than 100,000
02:03 Bitcoin nodes so nobody controls any of
02:05 that and there’s no reason to believe
02:08 that uh conflict in the Middle East
02:10 would have any impact on the Bitcoin
02:11 network um so why does the price drop
02:15 when things like that happen and the
02:17 answer is because people are ir
02:20 irrational in the near term and they do
02:23 dumb things that make no sense uh this
02:26 is unfortunately a part of human
02:28 behavior humans since the beginning of
02:30 time have made bad short-term decisions
02:34 if you rewind back to Adam and Eve in
02:37 the Garden of Eden way back back at the
02:39 beginning of human history they made a
02:42 bad decision based on short-term
02:45 thinking without really thinking it
02:47 through fast forward to today people are
02:51 making stupid decisions constantly for
02:54 example I’ve never met anyone who has
02:57 ever cheated on their spouse that in
02:59 retrospect thought it was a good idea
03:01 100% of the time they end up worse off
03:04 and unhappy and yet in the near term
03:07 people do do that and you know I scratch
03:11 my head and I’m like wait have we not
03:13 learned this lesson before no apparently
03:15 not apparently I have not learned this
03:17 lesson before apparently people keep
03:19 making decisions that are blatantly
03:22 obvious to be a bad decision in the long
03:25 term but in the moment people make
03:27 irrational and even dumb decisions and
03:31 the same applies to investing if you go
03:33 talk to the people who are selling
03:35 Bitcoin right now which is resulting in
03:37 the price diving down below $13,000
03:42 and you talked to them and you said “Hey
03:44 you just hit sell on some Bitcoin.” Help
03:47 me understand that they were they would
03:48 say “Well I I saw that Israel bombed
03:52 Iran.” Okay follow-up question uh what
03:55 does that have to do with Bitcoin their
03:57 response would be um you know I’m not
03:60 actually sure but uh it just seemed like
04:02 a good time to sell sell my Bitcoin it’s
04:04 like oh you’re saying you think the
04:06 dollar is going to be a you know good
04:09 because of conflict in the Middle East
04:11 the response would be like well I’m not
04:13 saying anything good is going to happen
04:14 to the dollar it’s like but wait you
04:17 just sold the Bitcoin to get the dollar
04:19 so why did you sell the Bitcoin the
04:21 answer is they don’t know they don’t
04:23 know why they sold their Bitcoin
04:25 they sold it because they felt fearful
04:27 they sold it because they were scared
04:29 and because humans often make dumb and
04:32 irrational decisions in the moment uh
04:34 because their rational brain has not yet
04:38 taken
04:40 so people make dumb and irrational
04:42 decisions in the moment because they
04:44 don’t think clearly they don’t think
04:45 things through they cannot articulate
04:48 basic questions like why did you just
04:50 sell your Bitcoin because Israel you
04:52 know bombed Iran they don’t know they
04:54 don’t know why they did it uh it just
04:56 seemed like the right thing to do and
04:58 but they don’t have any logical reason
04:60 why it would be the right thing to do
05:01 and they can’t really tell you why they
05:03 did it it just always happens so what’s
05:05 the right response well if you are
05:07 rational if your head is screwed on
05:10 properly if you can think clearly even
05:14 in a world of international conflict
05:15 then the answer is to say “Thank you for
05:17 your Bitcoin whoever it is that’s dumb
05:19 enough to sell it to you down at
05:21 $13,000.”
05:23 same thing back when Bitcoin dipped
05:25 below $50,000 for like five minutes back
05:29 in on August 5th of 2024 you know thank
05:32 thank you for your Bitcoin you’re up to
05:34 you know 2x same thing when Bitcoin’s
05:36 price dropped to whatever it was on you
05:39 know whenever Israel and Hamas uh the
05:43 conflict uh related to when Hamas
05:46 invaded in like I don’t know October I
05:48 think it was October 11th of 2023 it’s
05:51 like anyone selling your Bitcoin the
05:52 answer is thank you for the cheap
05:53 Bitcoin glad you don’t understand what
05:56 asset you own otherwise you wouldn’t
05:57 have sold it uh so anyway that’s the
05:59 current state of affairs in the world
06:01 right now bitcoin is down for no good
06:03 reason the best time to buy Bitcoin is
06:05 when people are scared when they don’t
06:07 know what they own and when they are
06:10 responding irrationally to the external
06:13 world and that is exactly what’s
06:14 happening right now which means again if
06:17 I had any US dollars left to buy more
06:19 Bitcoin I would right now but because I
06:21 am 100% Bitcoin I actually don’t have
06:24 any US dollars that I could use when
06:27 100% of my savings is in Bitcoin 100% of
06:29 my uh spending funds are in Bitcoin
06:32 waiting to be spent with my Coinbase
06:34 debit card and 100% of my retirement
06:37 funds are in Bitcoin i have literally
06:39 100% of my assets in Bitcoin and my
06:42 finances can handle that volatility so I
06:44 feel good about it um so that’s the
06:46 state of affairs uh great time to buy
06:48 Bitcoin when everybody’s panicked and
06:50 freaking out and I don’t see any reason
06:53 why conflict in the Middle East would
06:55 mean that the human race doesn’t need
06:56 money anymore or that Bitcoin is not
06:58 going to be a major uh the world
07:01 financial system at some point in the
07:03 future and you can be part of that now
07:06 by investing in a money that nobody can
07:08 inflate away and that the supply of that
07:11 money does not change based on who bombs
07:14 who hope that helps have a great evening