00:01 morning everyone don’t ever invest in
00:04 anything just because it’s going up you
00:06 should know why it is going up and why
00:09 even if there’s a price correction and
00:11 it goes temporarily down why it will
00:13 always eventually go back up so why is
00:16 Bitcoin always going to eventually go
00:18 back up and the answer is because
00:20 Bitcoin is the world’s best form of
00:22 money the world needs money so we don’t
00:25 have to barter we don’t have to trade
00:27 eggs for a cow we don’t have to trade a
00:29 cow for a house we don’t have to do all
00:31 sorts of weird contortions we get paid
00:33 in money we use that money to buy stuff
00:35 it keeps us from having to barter um and
00:38 a good money is durable divisible
00:40 fungeible portable authenticatable and a
00:43 bunch of other characteristics that I’ve
00:45 covered in other videos and the world
00:47 needs money because again otherwise
00:49 we’re stuck in barter and the problem
00:51 with all of the world’s existing money
00:53 is that the governments who control that
00:55 money print an unlimited amount of it
00:57 they have control over the money supply
00:59 and as they print more money out of thin
01:01 air the value of the the dollars in our
01:04 case or the or the pounds or euros or
01:07 you know yen or one or whatever it is
01:09 you hold or pesos etc uh the value of
01:12 those goes down as the government prints
01:14 more because your purchasing power is
01:17 diluted uh by all of those new dollars
01:20 or pounds or euros or pesos or whatever
01:22 that they print out of thin air so that
01:25 the current monetary system is broken
01:27 because your purchasing power keeps
01:29 going down and they keep ramping up how
01:31 much money they uh they create out of
01:33 thin air so the world needs a way to
01:36 hold value and transport value anywhere
01:39 in the world in a matter of seconds and
01:41 Bitcoin provides that for the first time
01:42 in human history and because of that
01:45 because it is so valuable for humans to
01:47 be able to store their time and their
01:50 energy in something that cannot be
01:53 created out of thin air and something
01:55 that enables them to transfer value
01:58 anywhere in the world any time to store
01:60 securely to be able to cross borders uh
02:03 without confiscation because it is so
02:05 valuable uh that for humans to be able
02:08 to do that uh Bitcoin’s price keeps
02:10 going up now why does it go down
02:12 temporarily and the answer is because
02:14 sometimes the price gets ahead of the
02:17 adoption the adoption is ever marching
02:20 on as more and more people understand
02:22 the value of Bitcoin and adopt it but it
02:24 is not it is not completely uniform
02:27 sometimes the price gets ahead of the
02:29 market adoption due to people
02:31 speculating on market adoption they
02:33 speculate on how high the price of
02:35 Bitcoin might go in the future and so
02:38 the price gets ahead of what is
02:39 sustainable based on uh good morning uh
02:43 the price gets ahead of what is
02:45 sustainable based on uh based on
02:47 adoption and that is temporary because
02:50 the march of bitcoin adoption is
02:52 constantly happening in the background
02:54 any price of bitcoin today will
02:57 eventually the adoption of bitcoin will
02:59 catch up to that price so if somebody
03:01 let’s say you know tomorrow which is not
03:03 going to happen but let’s say Bitcoin
03:06 spikes suddenly to $220,000 in a day
03:10 which again is not going to happen it
03:11 always takes longer uh to get to 220,000
03:14 even if that happens in the next 12
03:16 months would probably take 6 or 12 of
03:18 those 12 months to climb to a price that
03:21 is more than double its current price
03:23 but if it went to 220,000 very quickly
03:27 then and someone said “Well Joel do you
03:28 think there would be a price
03:29 correction?” And I would say yes because
03:30 the adoption of Bitcoin did not double
03:33 in a day it just didn’t which means the
03:37 price is almost certainly ahead of the
03:38 adoption if the price jumps immediately
03:41 to 220,000 now if somebody said “Yeah
03:43 but if I buy Bitcoin will I ever be up?”
03:46 I would say “Well of course because
03:48 Bitcoin adoption keeps marching on.” So
03:51 yeah 220,000 may be a little ahead of
03:53 adoption today but give it a year or two
03:56 or three and it’ll be right on track and
03:58 suddenly 220,000 will seem cheap based
04:00 on worldwide adoption of Bitcoin so uh
04:04 money is a valuable thing for people to
04:06 own having a good money that is portable
04:09 divert uh uh portable divisible
04:12 fungeable authenticatable and most
04:15 importantly the most important uh uh
04:17 aspect of any money in all of human
04:20 history is scarcity is how you know how
04:23 scarce it is how hard is it to produce
04:26 the next unit of that money and in the
04:28 case of government money they just print
04:30 it out of thin air and it’s super easy
04:32 um but in the case of Bitcoin nobody in
04:34 the entire universe can make more than
04:36 21 million Bitcoin and that’s all that
04:38 will ever exist so we know Bitcoin will
04:41 always eventually go up which means
04:44 again it’s a great investment because
04:47 unlike a lot of other things that once
04:48 the price goes down it might never come
04:50 back up um because whatever it is maybe
04:53 a company uh has competition and that
04:56 competition uh for example Blackberry
04:59 you know you have Blackberry and along
05:00 comes the iPhone and nobody even
05:04 remembers BlackBerry anymore because it
05:06 got made obsolete by the iPhone and
05:08 Android phones or MySpace nobody uses
05:11 MySpace why because Facebook made it
05:14 obsolete so if you are an investor and
05:17 you are investing in BlackBerry or you
05:19 are investing in MySpace or something
05:22 like that you would not you should not
05:24 invest in something like that just
05:26 because the price is going up because if
05:28 the price is going up there’s no reason
05:30 for a company like MySpace or something
05:33 that it can’t come right back down and
05:36 then stay down for a very long time
05:38 including potentially permanently
05:40 obviously there’s companies that go out
05:41 of business there’s companies that you
05:43 know like General Motors back in 2008 or
05:45 2009 it went bankrupt if you were a
05:48 shareholder in General Motors the stock
05:50 went to zero zero dollars that means if
05:53 you own stock you literally got wiped
05:55 out and lost all of your money in
05:57 General Motors it was either 2008 or
05:59 2009 uh after the Great Recession that
06:02 was caused by the government for what
06:03 it’s worth um anyway so so for all that
06:07 those reasons Bitcoin is a great
06:09 investment it will always eventually go
06:11 up sometimes the price gets ahead of the
06:14 uh demand the price or I should say the
06:16 price gets ahead of the adoption demand
06:19 it never gets ahead of the speculative
06:21 demand because the price reflects total
06:23 demand for Bitcoin and total supply of
06:25 Bitcoin so the price is always exactly
06:27 what it is and it always exactly uh
06:30 reflects supply and demand but sometimes
06:32 the price reflects uh adoption demand
06:35 and speculative demand and if it gets
06:38 too far ahead on the speculative demand
06:41 then there is a price correction to
06:42 bring the price back closer to uh to
06:45 where it would be uh if if it were just
06:48 adoption demand which is obviously de
06:50 adoption demand is completely
06:52 sustainable because that rep uh
06:54 represents people using Bitcoin for its
06:56 intended purposes not just spec
06:58 speculating on the price uh the
07:00 direction of the price changes so
07:02 hopefully that’s helpful in my opinion
07:04 Bitcoin will always eventually go back
07:06 up which makes it a fantastic investment
07:08 because it means you can always just
07:10 hold it and if the price goes down for a
07:13 period of time as long as you’re patient
07:15 you can hold it and the price will
07:16 always eventually go back up and for a
07:19 technology as incredible as Bitcoin
07:22 where I can send value anywhere in the
07:25 world anytime day or night instantly in
07:27 a way that nobody can block nobody can
07:29 censor and nobody can stop that is an
07:32 incredibly valuable thing to be able to
07:34 do we with the internet and email and
07:36 social media we got the ability to do
07:38 that with information i can send
07:40 information in the form of an email
07:42 anywhere in the world anytime day or
07:44 night and it shows up on the other side
07:46 of the world in a second or two uh but
07:48 we’ve never been able to do that with
07:50 money until Bitcoin i can’t send gold to
07:53 the other side of the world in seconds i
07:56 can’t even send US dollars to the other
07:58 side of the world in seconds because
07:59 most countries don’t support Venmo and
08:02 Cash App and PayPal and whatever else so
08:05 unless I can find somebody using the
08:07 same platform as me in another country I
08:09 can’t send the money i just can’t
08:11 there’s just no way to do that and even
08:13 if I could find somebody using another
08:15 platform that’s the same as me the
08:18 government can stop that transaction or
08:20 anybody can stop that transaction uh on
08:22 either side of it paypal Venmo Cash App
08:25 they can all just freeze my account uh
08:27 they can all freeze the account on the
08:28 other end all of those uh services are
08:31 used with the permission of the provider
08:34 and if you lose the permission to use
08:35 the platform your assets are frozen on
08:38 that platform bitcoin does not work that
08:40 way uh when you use self- custody like
08:42 Bitkey um you can uh have complete and
08:47 total sovereign control over your
08:48 Bitcoin in a way that nobody can censor
08:50 nobody can seize nobody can stop and
08:53 it’s an absolute incredible technology
08:55 that allows you to send value not just
08:57 information but to send value to anyone
08:60 anywhere in the world in a matter of
09:01 seconds and that’s incredible and that
09:03 is very powerful and that is why the
09:06 underlying value of Bitcoin is so high
09:08 that the price regardless of what the
09:10 price does in in the near-term basis the
09:13 price will always eventually go back up
09:16 because the demand for Bitcoin is so
09:18 high that the demand the adoption demand
09:21 will always eventually push the price
09:23 back up regardless of what the price
09:25 does in the near term so hopefully that
09:28 helps have a great morning everyone
09:29 thanks
