1 00:00:00,000 --> 00:00:06,960 something that seems to have really grown is this idea that you stack as much Bitcoin as you can, 2 00:00:07,040 --> 00:00:09,500 but you never ever spend any of it. 3 00:00:10,020 --> 00:00:15,680 And what you do is you borrow against it and you continue to do so. 4 00:00:15,680 --> 00:00:18,620 So it's the buy, borrow, die strategy. 5 00:00:19,580 --> 00:00:24,160 And I made a video about this maybe a couple of months ago, 6 00:00:24,160 --> 00:00:39,480 And I got a lot of interaction and feedback, let's just say, about this because, you know, I wanted to point out the significant downsides of the buy, borrow, die strategy. 7 00:00:39,900 --> 00:00:43,500 But I still see it popping up like mushrooms everywhere. 8 00:00:44,040 --> 00:00:45,380 What do you think about that? 9 00:00:46,180 --> 00:00:46,800 Of course. 10 00:00:46,980 --> 00:00:51,880 I mean, these are all part of the, I call them the attacks on Bitcoin. 11 00:00:52,640 --> 00:00:59,760 All of these carrots that are being dangled in front of people is really, in my opinion, to eventually separate them from their coins. 12 00:01:00,600 --> 00:01:02,760 Remember, Bitcoin was money. 13 00:01:02,760 --> 00:01:07,760 It was created to restore abundance and freedom to every individual. 14 00:01:08,060 --> 00:01:10,380 It is the separation of money and state. 15 00:01:10,900 --> 00:01:17,040 You don't want to give up that pristine asset for worthless paper. 16 00:01:17,040 --> 00:01:23,620 because once you do that, first of all, you have to understand what the terms of these platforms are. 17 00:01:23,620 --> 00:01:30,760 Even if the people who create them are not bad-intentioned, what people don't realize is that these well-intentioned people 18 00:01:30,760 --> 00:01:34,980 are playing on a chessboard whose rules they don't control. 19 00:01:35,740 --> 00:01:47,398 And these rules are manipulated all the time by people with very bad intentions So inevitably at some point those well people 20 00:01:47,398 --> 00:01:52,418 and everybody who's jumped on board are going to get screwed completely. 21 00:01:52,958 --> 00:01:57,698 And this is what we saw recently when Bitcoin hit an all-time high of 126K 22 00:01:57,698 --> 00:02:00,758 and then dropped to 100 within hours. 23 00:02:01,278 --> 00:02:03,458 Does that seem organic to you? 24 00:02:03,938 --> 00:02:04,738 Of course not. 25 00:02:04,738 --> 00:02:07,178 This is man-made, right? 26 00:02:07,198 --> 00:02:10,758 And so they create these crashes. 27 00:02:11,238 --> 00:02:12,118 People freak out. 28 00:02:12,578 --> 00:02:16,818 They become their own worst self-fulfilling prophecy because they think everything's going to zero. 29 00:02:17,218 --> 00:02:20,418 And so they sell and that cascading effect keeps going down. 30 00:02:20,578 --> 00:02:31,278 So if you're implicated in a platform where you're providing your Bitcoin and you don't have more Bitcoin to back it up, well, now you're going to get margin called. 31 00:02:31,478 --> 00:02:34,798 And because sometimes it happens so fast, some people lose their Bitcoin. 32 00:02:35,018 --> 00:02:35,718 They're sleeping. 33 00:02:35,718 --> 00:02:36,718 They don't know what's happening. 34 00:02:36,718 --> 00:02:39,118 They wake up the next morning to a balance of zero. 35 00:02:40,478 --> 00:02:44,898 All of these carrots are counterparty risks that no one needs. 36 00:02:45,118 --> 00:02:47,158 I never recommend them, right? 37 00:02:47,478 --> 00:02:49,558 Because Bitcoin is the money. 38 00:02:49,758 --> 00:02:54,638 If you can't afford something, and I know some people are going to hate me for this, but don't buy it. 39 00:02:55,818 --> 00:03:00,378 Living on debt is a lie that we've been fed in the fiat system. 40 00:03:00,378 --> 00:03:08,758 If you can't afford something, wait until you can then buy it risk-free. 41 00:03:08,758 --> 00:03:15,138 Don't give up your pristine assets for worthless paper and then put yourself in a situation 42 00:03:15,138 --> 00:03:17,778 where they're going to wipe you out. 43 00:03:17,778 --> 00:03:37,056 So the more people use these services the more relevancy they give to that fiat world they extend its lifeline You want to end that lifeline Bitcoin is money Use it as money Pay people who accept it 44 00:03:37,316 --> 00:03:42,396 Incentivize folks to accept it. And believe me, there's a ton of merchants that have started to 45 00:03:42,396 --> 00:03:48,296 adopt Bitcoin as money every single day. You have big chains in Europe, supermarket chains. You've 46 00:03:48,296 --> 00:03:55,496 got Square that just made it a default setting for 4 million merchants. You've got all these 47 00:03:55,496 --> 00:04:01,296 big boys now that are integrating Bitcoin payments in their everyday business by default. 48 00:04:02,156 --> 00:04:06,876 This is where the signal is because remember, Bitcoin is money, but it's also a protocol. 49 00:04:07,496 --> 00:04:16,356 This is a whole new universe being built on something that no living soul can screw up 50 00:04:16,356 --> 00:04:22,316 anymore, right? Like you can't. It's rules without rulers. It's protected by math and cryptography. 51 00:04:22,796 --> 00:04:30,376 Not you, not me, not any president or any politician or anyone else can do or say or write 52 00:04:30,376 --> 00:04:37,036 or anything under the sun to affect the way Bitcoin works. That's how powerful it is. And of course, 53 00:04:37,036 --> 00:04:45,356 that threatens all systems that have been used to power, greed, manipulation, and et cetera, 54 00:04:45,356 --> 00:04:49,636 et cetera. So stay away from all of these counterparty risks. 55 00:04:49,636 --> 00:04:52,196 Once you move into sound money, you keep moving. 56 00:04:52,796 --> 00:04:56,096 Like, you know, when you move away from a bad relationship, you don't look back 57 00:04:56,096 --> 00:04:58,436 anymore. You just keep moving. 58 00:04:58,676 --> 00:05:13,194 If you go to a restaurant and you get food poisoning once twice three four times stop going to that bloody restaurant You know go somewhere else The fiat system is nothing but bad news It a system that fuels evil corruption manipulation 59 00:05:13,614 --> 00:05:17,974 and every bloody bad adjective you can think of, put it in that sentence. 60 00:05:18,374 --> 00:05:23,274 If you no longer want to be part of that world or indirectly contributing to it, 61 00:05:23,274 --> 00:05:25,154 you have got to opt out of it. 62 00:05:25,534 --> 00:05:28,634 And right now, we have that solution, and it's called Bitcoin. 63 00:05:28,634 --> 00:05:34,534 And unfortunately, the wrong people, those that have been involved in that bad system, understand this. 64 00:05:35,154 --> 00:05:43,414 So while they dangle all these carrots for, you know, the ignorant folks out there, they are accumulating it because they know this is where the puck is headed. 65 00:05:43,814 --> 00:05:55,474 So instead of sound money reaching 8.3 billion individuals, we are seeing individuals foolishly give up their coins to the same people that have destroyed and wrecked their lives. 66 00:05:55,474 --> 00:06:14,494 This is what's upsetting, you know, when I read the news lately, right? Because I see this happening and it has to end at some point. How it ends is anybody's guess. But a lot of education, a lot of guidance, a lot of patience, a lot of handholding is required. 67 00:06:14,494 --> 00:06:23,574 And we do what we can here at the Bitcoin Way in order to alleviate, you know, the anxiety and all these hurdles. 68 00:06:23,854 --> 00:06:27,054 Like we literally handhold everyone from point A to point B. 69 00:06:27,334 --> 00:06:29,494 You cannot get this wrong, right? 70 00:06:29,574 --> 00:06:31,134 I mean, we train you. 71 00:06:31,314 --> 00:06:32,754 We follow up with you. 72 00:06:32,914 --> 00:06:33,934 We babysit you. 73 00:06:34,034 --> 00:06:35,094 You're part of a community. 74 00:06:35,094 --> 00:06:36,454 You're not on your own anymore. 75 00:06:36,874 --> 00:06:40,454 You're part of something really, you know, incredible. 76 00:06:40,454 --> 00:06:40,574 Right. 77 00:06:44,494 --> 00:07:14,474 Thank you.