Are We On Pace For a 2000% Bitcoin Increase?

Recorded in April of 2020, we discuss life in quarantine, and what this will mean for Bitcoin in the future. Plus we talk about why reading and studying crypto can only get you so far.

You can truly find a case for any stance you take on cryptocurrencies. Love them? You'll find lots of articles to support your stance. Hate them and think it's magic money, you'll find those articles too. At some point you have to make your own decision and go with your gut on whether or not to invest in this high-risk investment.

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Here's the Full Transcription:

Clarifying Crypto_mixdown

Erin Gregor: All right. Welcome to another episode of clarifying crypto. I'm Erin Gregor here with my cohost, Gary Leland. Hello, Gary. Woo. What a week? We're recording this at the end of April.

Gary Leland: What? The last two days or the last day?

Erin Gregor: what's funny is, so is this a Thursday where we're recording it? We usually record on Tuesdays and you're like, let's wait until Thursday.

I said, yeah, maybe we'll be able to talk about an $8K Bitcoin price. And then last night it was over $9K and I was joking with you and said, wow, I. I guess I was like, underestimating. I should shoot higher because, I don't know what it's at right now. I think it was hovering around the high eights,

Gary Leland: $8792,

Erin Gregor: $8792.

So a lot of excitement. it's definitely gone up. I think it was around six. I don't know.,I've become so numb to this.

Gary Leland: Any low seven thousands, 36 hours

Erin Gregor: ago. Okay. So that

would

Gary Leland: be my guess if my memory is correct.

Erin Gregor: Yeah. So we're on a ride and everybody's a buzz right now because we've got the halving coming up.

and it's so funny. Cause we were just talking. I'm like, let's wait before we hit record because I've had. Yeah. I've been researching this now for two years. And I remember the first, like from seven to three, I guess two summers ago. And I was like sick to my stomach. Oh my God. I made a mistake steak.

I never should have put any money into this. This is horrible. What am I doing it itself? I'm just like, I'm just going to just put this small amount in and just let it sit there. And then it came back. And yeah. I've gotten to a point where I'm okay with the dips, like the dips are actually an opportunity to me.

I get excited about a dip from a perspective of, Oh good. There's, it's a good time to buy.

Gary Leland: That's pretty uncommon unless you've been in it a while. Cause everybody sees it going up and they're like, Oh my gosh, it's $9,000. We need to buy some, but they could have got it a month earlier at 5,000 and they didn't want any.

Erin Gregor: No, I agree. I just, I feel like I'm really getting seasoned in the fact that cause what used to happen was it started going up and I'd be like, Ooh, it's going to have a Skoda. I got to get in. Now, like to your point, I got to get it now, before it goes way up, back to 20 and I've missed out on this opportunity.

They've got to get in. I got to get in. now I'm seeing it going up again and I'm like slow and steady. Aaron just don't get too excited. Cause it's probably going to, and again, we're not investor advisors. We don't know anything. We have no inside track to any of this. So this is all guesstimating. We do not take financial advice from us at all.

Yeah.

Gary Leland: This will not be the show. If you're wanting to find a show for people to recommendations on what coin to buy and when to buy, when to sell it, that's it.

Erin Gregor: I'm not pulling out any candles. And showing you cause I still get lost in those damn graphs. yeah. I'm like, okay, this is good. But when people are getting really excited about the having and they talk about the increase from the first having that happened, it went from 11 to 1100.

The second one went from. 600 to 20,000. And then obviously we're not seeing it anywhere near 20,000 right now, but those huge increases didn't happen for a year after it. Is that correct?

Gary Leland: That's correct. It took a while. Usually from what I've seen, I wasn't here for the first two. This is my first halvening, but from what I've seen, it does have a little bit of a rise before.

And what I've seen is like within two weeks before, which seems to have fallen to true this time. Again, there's a nice whole rise up to the halvening. And then shortly after that halvening, it drops off again. So it's I think the same thing applies to them. Stock market. I don't know how many my mom told me you buy on the rumor you sell on the news.

And I think it's the same thing. People were buying on the room or the having it's coming. And once the news gets here, people sell and then it stops. And then it kinda levels out and it goes up maybe a little bit. And then after a while it really starts moving rapidly. That's what from, if you look at the guys who do all these charts you were talking about on TV, that's what they were always showing when they're comparing past years.

Erin Gregor: yeah. Yeah. There's just a lot of buzz happening right now. Oh, get in the ride, but I'm like, alright, not going to get too excited about this. Cause I was just telling you like. I remember I would, and this is why I remember it because we were flying to Hawaii and it's an eight hour flight. And I watched it when we, before I had to turn off my phone, it was like at 9,800.

And when I landed it, yeah, hours later, it was in the tens. And I was like, Ooh, what's going up getting so excited. Here we go. Here we go. And then what, three weeks later you couldn't buy it? 3,800.

Gary Leland: We can hear about my wife in San Francisco.

Erin Gregor: Yeah. Like I said, I finally am feeling like maybe I'm getting more comfortable in this, the fact that I'm not getting too excited about an increase, the decreases I'm fine.

Increases. I got to get out of

Gary Leland: Buying or like we've recommended and we both seem to do with dollar cost averaging. Yes. You're not going to get too hurt. It's the people who are right now go, I don't have a Bitcoin. I need to buy one. And then go buy one at a high price, instead of going out, buy a hundred dollars worth a day or a hundred dollars worth a week or that same dollar amount.

And they spread it out, Yeah. And then as it goes down, they saved money and it goes down and they go, Whoa, glad I didn't buy it all. When it was like super high.

Erin Gregor: Exactly cause you're going to drive yourself crazy. Trying to figure out that perfect price. That's what I was trying to do is, Oh, let me get an a, and it just it's come to that.

Like a S you try to get in at seven, I've seen it at seven. Now in these past several years, probably. 50 times, cause it goes up and down and up and down.

Gary Leland: My wife's real excited right now because I told her maybe three weeks ago I was watching one of these charting guys, I watch a lot of it.

Erin Gregor: I did shoe. I just, I try to hope I'll get it at some point,

Gary Leland: It showed predictions, compare to the last two halvenings and for it to hit $280,000, I think was the amount. By 2024 to be guaranteed the hit that it had to be $8,000 by the halvening. So I told my wife this, and it was like 6,500 when I told her this she's going, Oh, do you think you can make it to $8,000?

I said, it's possible. it can make a data. It could be. I said it could be 20 L anything can happen in Bitcoin now save thousands thousand dollars. She's dancing around going 244,000

Erin Gregor: report. I figured like in four years, and maybe

Gary Leland: She's taking it for So you said eight, you said 8,000 was the number, Garrett.

Garrison. I said, this guy said it. I didn't say it.

Erin Gregor: Yeah. And I think the most careful thing, like I, you could make, you could say anything, you could put anything out to the universe of what you believe about bitcoin. It's going to go to zero that it's going to go to this and it's going to go this, and you could find an article that supports your opinion.

so you can, you have to take this stuff with a grain of salt and, obviously I, what gets me, right? It honestly is. we're seeing just this. not that I should be excited that this crazy stuff's happening in the U S but yeah, everything that Bitcoin was created for is happening. I know we've talked about this.

And so it's, I feel very relieved that I have taken this seriously enough to look into it as a diversification of my portfolio, because as crazy and as lunatic as Bitcoin sounds to some people, I feel it's a lot more safer than the U S dollar a lot safer than they

Gary Leland: used to have in the long term.

it should have been print that much money spending it and not be safer. and then when you look at charts, people who've charted the value of the U S dollar since 1908 or whenever it was the Fed per started. If you look at the buying power of the dollar since then, it's mind boggling.

And they weren't even really printing money yet. So none of their really printing at this rate. it's if you take that drop, like if it was worth a dollar in 1908, it's worth 2 cents. Now the buying power or something. Yeah. over, just over a hundred years, it's dropped 98% in buying power and they weren't even printing it like crazy.

So what the printing they're doing now? What will the buying power be of the dollar in another a hundred years. So I'm like, I won't be around, but my gosh.

Erin Gregor: Yeah. And so here's where, I think what I get excited about, but I wonder about too, is that we talk about the people that got in last.

I had, I heard a story. I don't know if I ever told you this story. One of my friends got into big, like he started getting really excited about Bitcoin, the poor guy. So he puts his money. It probably like in a Coinbase or something, I don't know exactly where he went, but it was like right when it was getting really high.

And he was it was like, I don't know, like $10 or $11,000 or something, or even maybe seven, but he's I'm going to buy some by the time it takes to process the deposit into a Coinbase account, it goes up to 20. So he buys at 20 and then he's now terrified to ever get into Bitcoin again.

And it's just sat there. Cause obviously it crashed.  if so when you talk about this number of $288,000. If you, I don't know what happened. So I know it went from 100 to 1100, but I don't know. Did it sit at 1100 or did it crash down? Like we saw

Gary Leland: every time.

Erin Gregor: Yeah. So if it gets to  $288,

Gary Leland: you sit there and you go, Oh my gosh, this guy's got it in a nickel.

they shouldn't be so excited to upset that it went from 20,000 to 3,200. The last time it dropped, but they've seen it go from a nickel. To a dollar and crash from a dollar or two, a thousand and crash. So they've really had some seen some crashes that percentage wise where the same, you kno w, but, it just seems bad, worse when it's your money.

Erin Gregor: Yeah. It definitely seems bad when its your money. So yeah, I'm just like, it's interesting to me, like what it actually will get to and then what it will settle to because. the last place you want to be is trying to buy it that perfect high. And I'm sure there are people I know there I've heard rumors like, and we know this there's a lot of people that can, there's not a ton of people that own Bitcoin, so it can be controlled very easily.

And I even heard the last time there was a manipulation happening that got it to 20 K those I'll call them guys for that of a better term people. Can sell-off and walk away. But I think as a person, you'll probably drive yourself crazy, trying to figure out what that peak is. Yeah. And then figure out how to settle it out.

Gary Leland: No, there are some people, I assume they can trade Bitcoin and sell and hold it and rebuy it and stuff like that and move it around. But I find most people who do that I know and lost money, they'd have been better off. And by the time they pay the taxes on it to boot they'd have been better off just to sit on it and ride it through.

Erin Gregor: Yeah.

Gary Leland: It's what a lot of people going to say about the stock market, but a Bitcoin is so volatile. You could say I'm getting out of it tomorrow. Cause it looks like it's going down and it can double, you just don't know. Cause it's what you said a minute ago. There aren't a lot of people, in the big picture, things that have a lot of Bitcoins so they can manipulate it.

Erin Gregor: Right.

Gary Leland: So all the stats could tell you. It's time to get out, according to all the charts said anyone's ever used, but it's so small that it can be manipulated. And someone goes to hell with the charts. I'm going to start buying this stuff,

Erin Gregor: right?

Gary Leland: Yeah. Can you see it go up? you see it go up and big candlesticks usually, if you look at it and you look at 12-hour trading window, you'll usually see one big candlestick that, if it went from.

8,000 8,500. There'll be one candlestick. That's 150 bucks I get shot at. But that one point right there, we're just like going up a little bit at a time, but someone, or I don't know if it's someone bought a lot or if it went up and everybody had to cover their shorts or whatever happened, but it usually goes up in big time.

Erin Gregor: Yeah. And it goes very quickly. Yeah. Big hunks. And to that point, it goes up very quickly. And cause. It was literally like a week that it went up over that time in 2017, from 10 to 20, like it, and then it just crashed. And, and, but like I said, it's settled out. And so if you, it went from 11 to 1100 and it still never even gone down to 1100, so it starts to settle out and you're still up ahead,

Gary Leland: and yeah, they're become points that it, at some point never goes back to.

Erin Gregor: Right.

Gary Leland: Like this $3,800, we saw what a month and a half ago on black Thursday, when everything went right up, it's not scold. Everything dropped. if Bitcoin breaks the all time high of $19,000 was probably never going to drop back down to 38. Again, that 38 will probably have been the low in the news.

We'll probably be somewhere where around $10,000 maybe, or this $8,000 we're at right now. But, but it will most certainly drop again. and any indication of what I've seen in Bitcoin, it's going to drop again. I've never seen it since I've been in it.

Erin Gregor: Yeah. And yeah, like we said, how does you got to have that floor keep rising, where it's not going to drop below that.

What I'm really interested to see is. Again, not getting too excited, not to be, I'm not a financial advisor. I don't study this stuff. I just know enough that, and we've talked about this before. I don't think the economy, this huge increase we're seeing is going to stay that way. So the question is.

What is Bitcoin going to do? Bitcoin seeing its perfect scenario of inflation half, or, printing money happening, all this thing. So it's seeing it's perfect scenario. We've got this happening happen, but then what happens when the recession starts to happen? How is that going to I'm curious,

Gary Leland: Bitcoin was made, invented.

Whatever you want to say in

Erin Gregor: 2009,

Gary Leland: because of the fact we had the housing crisis and the banking crisis, and it was made for a time like this, and now we have it happening worse than before. Plus the halvening coming up, plus the whole world sheltered in place. This is this could end up being the perfect storm and it just.

But this is what it was made for, just make the best scenario you could hope for if you were a Bitcoiner

Erin Gregor: And I think that's why it bothered me so much that it dipped so much with the stock market. I think that's where it was like, it shouldn't correlate with this stuff, because this is Minnesota gold

Gary Leland: and gold is gold. As I said to Nate, it's been the thing to hold since, the Samaritans Mesopotamia. He has been around a long time, this year, if you take this year since the first of the year today, Bitcoin is at 24%. Gold is up like 12% in the S and P 500 is down 8%.

So you really can't say they're correlating that much. Maybe they do here and there, but that's a big difference of 24% to the S and P 500 being down 8% for four

Erin Gregor: months.

Gary Leland: Maybe you can't find spots, where it does fall. maybe as people go, I got to get out of everything. I was told to get out of it, but everything or else I got to cover my shorts and knit.

S and P 500, liquidity. So they sell their Bitcoin. Maybe there are reasons.

Erin Gregor: Yeah, it was, yeah. Liquidity was one of the things they talked about was that, people freaking out, no, maybe they lost a job or something and they don't have time to sit. And so you sell and that's the worst part.

That's when you lose the money. That's what I, one thing I have learned more than anything you never, ever want to be in this spot where you need the money, because you're going to selling a house, selling stock, selling Bitcoin there's you always flipping lose when you need the money.

Gary Leland: So is a time when you don't want to, you've got to sell it at a time that you shouldn't be

Erin Gregor: right?

Yeah. Like when you're like it just, when you have that upper hand of, I'll walk away from the deal versus I really need that money. You always end up losing. So anyway, I think there's a lot of stuff coming up. That's going to make this very interesting. Cause like I said, when the, if everybody thinks that the economy is going to open and we're free and clear, you're crazy.

Again, I don't know this, but I don't think we're going to be okay.

Gary Leland: I agree with you. So on that, I think it's just impossible. to me, okay. I think that the market's going to get worse and worse. I think it's crazy that it's doing so well, but I'm glad it did because I got back home. Brilliant, but I'm just going, how can, and not even taking the...

the amount of money that they're printing and giving away. Oh my gosh, this is so many factors that like all the people, all the money, this like New York state or New York city, I think they want $50 billion printed. And given to them to cover this, all these States are going to be wanting money.

They can't, they don't have enough employment money to pay an appoint. We haven't even seen the start. That's what I'm scared of, but we haven't seen the start of the money printing. Now they're talking about doing another. Yeah, I'll take that. They give it to me, but I haven't got anything yet. So I guess I'm not going to get that either.

Erin Gregor: I haven't gotten anything

Gary Leland: Yet, I don't think that's fair. They ought to just quit making me pay taxes. And then this, even everybody's got to proportionate, you're doing your fair share. You're doing your equal share. I don't understand what this an equal share is. To be honest with you, I'm getting nothing, and I'm being hurt percentage wise, the same as anyone else, maybe more.

maybe less, I don't know, but it's a big, your dollar amount. It seems So I wouldn't to be getting some kind of help.

Erin Gregor: Yeah, I don't know. And I don't know if you, I don't think we've talked about this. I've been talking about this about a lot with other people, but basically if you make, I think it's 21 or $23 an hour.

If you make under that, it pays for you not to work right now because of this extra $600, they're giving everybody a week. So some of these people don't even want to go back to work. Cause they're making more sitting there on unemployment than they are.

Gary Leland: Yeah.

Erin Gregor: And stuff like that. Just it just, okay. I get, we have to help people who lose their job.

I'm not saying we don't, however, Make some flipping sense out of this instead of just handing out money that, but, I wouldn't

Gary Leland: say it's forgiven. I know

Erin Gregor: I would too,

Gary Leland: I'm ingredient. Hey, gotta take any money. I pick up pennies on the sidewalk still y'all walked out of the day and it was a pile.

I picked up a dollar and 32 cents on the corner over there walking outside of my building. It was like a dollar 32 cents just laying there. And I said, I don't want to carry this around anymore. And they just dropped it because it was too heavy or something.

Erin Gregor: Yeah, I was giddy what? I made $17 off my Dogcoin.

Gary Leland: Yeah. How much did your

Erin Gregor: Dogcoin

Gary Leland: Go up?

Erin Gregor: 17% is where let me see where it's at right now. I know. that's the thing, like you've told me this a long time ago, like basically all the altcoins follow Bitcoin. So you might as well just put it in Bitcoin because when Bitcoin I've yet to see it, where Bitcoin's down and everything else is up.

I haven't seen that I'm at $17 off my $50.

Gary Leland: let's see right now Bitcoin's at 0.7, 4%. Let's see how doge

Erin Gregor: I'm up. 34%. $7. Yeah, I know. I'm like

Gary Leland: down 0.4, 6% right now.

Erin Gregor: Yeah.

Gary Leland: So Bitcoin smooth. So you'd been just as good to keep it in Bitcoin. Yeah.

Erin Gregor: Yeah.

Gary Leland: but it's fun making money.

Erin Gregor: It is fun.

I've talked with you about this too. Like I've and this is a fault of mine, but like the P and we, I think we talked, I don't remember when we talked about this. I know we've talked about it, but the people were like, Oh, I'm not getting in because I didn't get in when it was a penny. It's you still can like, Double your money easily.

Like you, if you bought it at 3000 a month ago, you'd be almost triple your money, give or take here. No, I'll take triple my money all day long. what is it that you can't get in? Because it's not a dollar and it's not like insane

Gary Leland: 20,000. I go, I can't get in cause I've missed it. And then it would be 40,000.

I can't get in. Cause I missed it. Yeah, but it's funny. I was telling you before the call, all of a sudden I'm getting calls. People come, people were contacting me. Who've had no interested in interest in Bitcoin or crypto asking me questions on Facebook and stuff. Cause they know that I'm into it real big.

And you're asking me a lot of questions, like where do I get it? Can I mine it because they don't understand it at all. And so all of a sudden the price is going up and people starting to get interested in it where they weren't interested at all. No, and as your friends get more and more interested in, and then you get a lot more subscribers on the podcast and you get people contacting you.

One advertiser in a whole system starts of money being, cause it is a business of money and people who are in the business of money, understand the logic of spending money to make money. It's not like most podcasts, you know what you're talking about? How to play tennis and they don't want to spend any money or how to be confident and that people don't want to spend money in this business.

They know you make money spending money. And they come, when Bitcoin starts moving, everybody starts getting hit by people, wanting to spend money, to be advertised on their shows and stuff. it's really so crazy from any other thing I've ever been. And when it gets moving.

Erin Gregor: Yeah. And if there's one thing, again, I don't want to tell people because you really have to be.

comfortable with high risk to invest in this. it is a,

Gary Leland: It is a volatile asset.

Erin Gregor: It's a volatile asset with

Gary Leland: never put in more than you can afford to lose.

Erin Gregor: Exactly.

Gary Leland: It could go to zero it's only 11 years old. Yeah. And in all reality, some guy made it in his closet 11 years ago for all we knew.

Erin Gregor: Wait, exactly. However, I'm so glad that so a little history and I wish somebody would have, I know you got talked to about it when it was like super cheap and you didn't go in. I never did. Okay. So the first time I ever started hearing about it was in 2017 and all these flipping, if you can't see the video, it's okay.

Experts. Yeah. Air quoting the crap out of that sort of coming out of there woodwork. Cause it was going up and I'm like, you know what? I'm not getting in because I remember like I talked about this before, but the, when everybody's talking about it, when it, when you can't lose, when it's ID, you can't lose this situation.

That is not, you are too late to the game and you're going to lose big time. And so I was like, I'm not looking what is this crap? Like I had all this bad Juju around it and, But then when people were still talking about it, when it wasn't the hot thing and when all the quote unquote experts went away,

Gary Leland: that's fine, totally blown away.

How many shows that haven't had an episode in two years, and I guarantee you that two thirds of those will start having episodes again, once it breaks 14, 15,000, I'll start, these experts will start coming back.

Erin Gregor: Use that term very loosely do not disturb, but yeah, I know. And so I'm very grateful that. as this is going up, I did because when it starts going to 14, 20 it's, I don't want to say it's too late, but you've lost a lot of opportunity because you're jumping in when everyone else is in.

And so I'm glad you kept talking about this. I'm glad you kept it's still a good day. who cares if it's not at 20, like you still should probably be looking into this. since

Gary Leland: we've started this show, we're up. cause we saw it go all the way down to $38 cost averaging.

So I was buying every day. So I'm up since we've only done what eight or nine episodes of the show and I'm up to get them out.

Erin Gregor: Yeah, no. And I was doing the, I was trying to guess like the, Oh, what's that like? I'm still. Yeah.

Gary Leland: And I said, actually I asked closer to 4,000. I started going, I'm fine.

Double the amounts of it. Cause this is pretty damn good. Yeah. So I started buying double and triple the amount, as it started going down. So actually I bought on the, drop it on the rise, but at the bottom 50%, I was doubling and tripling up. Cause I just was to, wow, this is damn low compared to what it was a month ago.

Yeah. So I'm happy.

Erin Gregor: So I'm going to put you on the spot on this one, because I think one of the fun ways, like even I've gotten some people to invest in this has been through apps like fold, Chrome extensions, like Lollo, where you just start getting money back Bitcoin, back on purchases. We were having so much fun at the beginning, finding new, have you, has it, has anything new popped up on your radar of fun, new apps or

Gary Leland: anything new that has come up that cause we were having a lot of fun with falls to begin with.

Erin Gregor: Yeah. Folf making me sad. They need some,

Gary Leland: they need some card, a credit card, and I think they're putting all theirattention to that. I'm not even going in to try to win any SATs on the wheel anymore, to be honest with you.

Erin Gregor: Oh, we do that. That's my, that's a kid thing in our house every morning.

My husband has it. I have it. So we  split the kids up and they get to spin the wheel every morning. That's the thing

Gary Leland: I need to keep remembering. Cause one time I hit 10,000 I think. And that wasn't a bad day. That was

Erin Gregor: like twice in a week. But now it's a million. Did you see that? It's no longer 10,000. It's a million

on

Gary Leland: the wheel.

Oh, I see that. here we go. I'm spinning now. Okay. And I just got a thousand. Oh, my next door. Isn't that? That's the thing.

Erin Gregor: You can only buy so much Amazon and Starbucks.

Gary Leland: Yeah. They haven't added anything new and so long. That's, what's the problem with it. If they add a new stuff that I could use, I have, we talked about Swan,

Erin Gregor: you mentioned it.

And I actually started to set something up in it. I always, you can tell, I get a little flustered when it starts getting a little complicated, but, they needed some more stuff. And I was like, I don't have time

Gary Leland: for, I don't want to mess with that,

Erin Gregor: but I liked the concept and I know you've brought it up when it was in.

discussion. I don't know if we've talked about it since it's actually gone live. So explain a little bit what it is. It's

Gary Leland: one Bitcoin, I'm an advisor for them. And, they have set up a system where you can go in there and they have cheaper rates than Coinbase to buy. And you can say, I want to buy every payday, a certain amount of Bitcoin.

And just automatically every payday it'll take it out, which is a better way to do it. Cause you don't look at it. Cause we, cause what happens is you start buying it. Like we were buying a say at $8,000 and you start seeing it go down and you get real nagged out any, Oh next Friday you go. I'm not buying anything today.

Every week it's worth less and less, but really that's when you should be buying. So this will automatically buy it for you. So you don't look at it. And every week it'll do an automatic purchase, whatever you want to buy and save it for you. And if anyone's interested, I think if you use my affiliate link, I know my affiliate link, but I think if you use it, you get $10 of free Bitcoin and it's Garyleland.com/swan.

It's the bam, but that'll give you $10 worth of free Bitcoin. When you do your first purchase and you gotta do your KYC, know your customer laws cause that's federal government laws, but it. You set it up to do a purchase every week. You know what you can afford to invest what you want to buy every week and it'll buy it, come hell or high water, and you don't go.

Cause I had a friend of mine who worked for SXSW. She said she was gonna start buying every week. And she started buying at 10 and I talked to her that day. I said, wow, you must be really happy. And she goes, no, I'm not. I said, what do you mean. It went all the way down to 3,800. You were buying every week.

She goes, why? Why? And when it hit seven, because I was going, I was really pissed. I lost so much money. That's good. And that's why we were telling you the buy every week, dollar cost averaging it wasn't because we wanted you to buy, going up. We were hoping you'd look up and it dropped, or you could have bought it all at 10,

Erin Gregor: Yeah, you got it. You have to take the emotion out of investing and it's I understand it's so much easier said than done. But when you catch to it, exactly.

Gary Leland: No, don't keep up with it. You just look at it a year later and you go, Oh wow. and hopefully to this, but yeah, there's no use of dollar-cost averaging.

If you think it's going up, you must try it all, Cause it'd be worth more tomorrow, but your dollar-cost averaging. Cause you're hoping it's going to dip and you're going to be able to take advantage of those on its way up, instead of buying it all at $10,000, you bought some at 10, some at nine, seven, eight, some at seven, some at 10, 11 at 12, some at 10, some at night, So you're buying on the dips every week, as well as the normal price. And that's when she got out. Cause she got turned off. When she saw the big vet and that was her opportunity. I

Erin Gregor: did this same thing I bought at seven. Very first purchase was that 7,500 went down at 35 and I freaked out. Didn't buy anymore.

Gary Leland: Yeah.

Erin Gregor: Same exact thing. And I was just, now I might kicking myself, but that was a. I had a stock trading account that used to do this, and it's just like your 401k. You don't have it that up that you put it in and it just automatically goes because you don't have to think about it. I was saying I had a stock brokerage account that did that for a long time.

I said, every month I'm going to deposit X amount, get these by these four to five stock every month, whatever, put X amount in there and buy them. And so we were buying like percentages of stocks. And it was perfect. Cause I just, I didn't even know where I was. I had no idea what I bought it at. I didn't get in the head game of, is it going to go higher?

Is it gonna go lower? What should I buy? What should I do? And. it turned out so much better for me than me trying to go in every month and figure out what the stock to buy was and what I should put my money in. And the same thing with this, take the emotion out again. we're not investors.

So do research. We are

Gary Leland: investors, but we're not missing advisors,

Erin Gregor: advisors. That's what it is. You're talking about other investors, either government, if you're going to come take Bitcoin, I'm not, I don't do this either. I just

Gary Leland: talking about. Yeah, basically guys here and I enjoy talking Bitcoin. We're just letting you over here.

Our conversation for the most part.

Erin Gregor: Exactly. And I get, like I said, I get, I'm excited about what's happening, but, I think the tools like the Fold app is a great way just to get your feet wet and maybe someday I'll be a millionaire instead of just on Satoshi's of it. But, I'm back up to another million.

Right.

Gary Leland: You're French. You're cranking

Erin Gregor: now. So now

Gary Leland: if you don't know, there's a hundred millionth of a Bitcoin. Yeah. Yeah. that's the biggest thing to explain when people, when this starts going up is they'll go, gosh, I wish I could afford a Bitcoin and you'll go. You can. Cause they don't realize they still don't realize.

And they won't. That'll be what you'll hear a lot of, gosh, I don't like to get in, but I can't afford 15. I can't afford $20,000 and they go, Oh, I didn't know. I could buy a hundred dollars worth. yeah,

Erin Gregor: yeah. Just go buy a Starbucks gift card and then you're in.

Gary Leland: Yeah. All

Erin Gregor: So you've got the podcast of a four minute crypto at five days a week.

You talk about, something in the news under four minutes regarding crypto. Anything. I know the two 88 one was a couple of days ago or yesterday, the $288,000. Oh

Gary Leland: yeah. Plan changed. But he's had his prediction originally was in four years. Bitcoin would be 50,000 and then he changed our 40. Maybe they changed it to a hundred and now he's changed it again to two 88.

Erin Gregor: So who knows what will be next week?

Gary Leland: He likes what he's seeing, to me, that affects Bitcoin. Cause it keeps going up, the stock to flow ratio, I wasn't that familiar with it, but it's big in precious metals. And his thing was that he was first person to take the stock, to flow ratio, the amount of demand versus the amount there is a cell and put it into Bitcoin.

And so that's his claim to fame, And so he's moving up on that amount. So that's like I said, tomorrow's a four minute crypto is some information I gave out earlier about how Bitcoin's up 24% for the year, but Gold's only up eight or 12 or something. And the Dow, our S and P 500 is down 8%, so it's correlated with it, but not really over the long haul.

So that's kinda, that was interesting to me when I saw those stats. But the big thing that we're starting to move on again is now that Texas is like opening up, like tomorrow is Friday the 31st and we're like opening our store. And, so that, to me, that means Texas feels pretty comfortable and we're starting to promote a Bit Block Boom conference again, and that people are starting to get excited about it again.

and then, there's if you go to Bitcoinhalvening.com. In 11 days, cause it's 11 days. So the happening they're having a 21 hour marathon,

Erin Gregor: but black half. Is that what it is?

Gary Leland: Okay.

Erin Gregor: If you put a website out, I'm clicking on it. I just looked at it right now. It's Bitcoinblock, half.com. I don't know what that

Gary Leland: was. That's for the Bitcoin halvening.

Erin Gregor: Yeah. Okay.

Gary Leland: And it's, I don't know if that's what the, I think that just shows like a chart of how many days left to the halvening, right?

Yeah.

Erin Gregor: And then just talks about

Gary Leland: price.com. That's my Bitcoin magazine they're on the in 11 days are doing a 21 hour marathon of, different Bitcoiners on there. talking, doing a conference 24 hour 21 hour conference about Bitcoin. So I'll be one of the people who have one of the hours. So that ought to be pretty fun.

I don't know what's going on there. All I know is they asked me if that would be involved. So they got 450,000 followers on Twitter. So I figured that can't be too shabby to get involved with. There's a lot more than that. Yeah.

Erin Gregor: That's funny. That's not bad at all.

Gary Leland: Yeah, it's for damn sure. So I've done.

Erin Gregor: It was funny. We were talking last week about who's Satoshi Nakamoto. Is that, did I say it right? Always screw it.

Gary Leland: I've got worse than that. I've messed up a lot worse than that.

Erin Gregor: But I was watching this podcast where this guy was interviewing Jack Dorsey and he's are you such a, and he's like, why would I tell you if I was?

It's weird.

Gary Leland: Why would he tell you Bitcoin though?

Erin Gregor: He loves Bitcoin. That's what he was talking about was, cause he owns Square. And he was like, the whole issue is trying to get the person over in Ethiopia to get a store and to be able to, exchange currencies and stuff. And what Bitcoin does, what cryptocurrency does is it allows that those transactions to happen.

So he, we all know he's a fan and he definitely talked about, the excitement of what it is and what it can do. so it was an interesting interview, but it was just funny. Cause he asked him, I'm like, that's a stupid question, but you can't get them all.

Gary Leland: Like Barbara Walters used to ask if you were a tree, what kind of tree would you be? that's a stupid question. I don't care how it's supposed to be.

I don't know a dead tree. I don't know a live one. Yeah. So people reporters do ask stupid questions.

Erin Gregor: Oh good. So I'll give this kid the benefit of the doubt, but that I just laughed because you and I had this long conversation of, who he, or they, or she could possibly be. I just, I keep thinking the brilliance of this person or people really.

Has because it's just amazing to me to create this. if you were to have me create a currency, I would never have thought this thing through to the level that they have. And, I would never have developed

Gary Leland: this had to be pretty smart and came up with this

Erin Gregor: way above my pay

Gary Leland: grade. I know I can. And there are faster cryptos out there faster than watching games.

There are some that are just the same size of that smaller and smaller. There are some that are better. But it's like gold, gold. It's not the rarest element. It's not the strongest element. It's not the best element, but it, I got there first. you have the gold standard cause Isaac Newton invented it a long time ago and that's where Bitcoin's at right now.

It was the first one, it's gone the longest without being hacked or messed up. It's got the most credibility, even though it may not be the best, it's the first one. So it has that first one. backing it up, being the longest lasting

Erin Gregor: Yeah. I don't know. I'm getting very excited, so it's going to be very interesting.

What is the having date? I should know this

Gary Leland: now.

Erin Gregor: 11 days

I have 39 minutes on my countdown.

Gary Leland: Oh, maybe mine's messed up. Mine says 23. Mine's 29 now, correct? That it went up

Erin Gregor: tight. We lost,

Gary Leland: the thing is the halvening changes. This clock will change. Like mine just did because it's not a certain time period. It's a certain amount of blocks.

Erin Gregor: Ah,

Gary Leland: faster than they go slower, according to how many people are mining and the hash power.

So this could change, it could, that could actually, I don't think it changed a day by this close into it, but that's why no one knows the exact day, like a year ahead of time or the exact time. And every two weeks, the, Bitcoin changes, the algorithm changes to make it. If there's too much Bitcoin being mine too fast, it gets harder to mine.

It's not being mined fast enough. It gets easier to mine so that it can stay pretty close to every four years, but it's not like cutting stones. So that's why when I refreshed it, I guess it refreshed the time. Cause I spent on it all day. So I guess it had gotten 10 seconds further away, Cause it's going a little bit slower right now.

So

Erin Gregor: like I said, just so I just smart people really amaze me. Cause I'm just, to think of that is just. Incredible to me.

Gary Leland: Yeah. That's a pretty feature that pretty smart to thought of, but you've got to make it harder when you've got too many machines, mining that are too powerful in that he was able to predict, because when it started, you can mine Bitcoin on the laptop, but whoever it was able to predict how powerful computers would get in there before long if it was as easy to mine now, as it was 11 years ago with a laptop.

it would just be getting mine so fast. It would be ridiculous so that a timing to it. And they slowing down in a speeding up, according to how hard it was being mined. That's pretty smart to me.

Erin Gregor: That's really smart. Anyway, like good thing. I don't, we don't know who this person is because if I ever had to talk to them, I'd be like, I don't even know what to say to you.

Like you're just so smart. Yeah. I feel

Gary Leland: like an idiot, bro.

Erin Gregor: All right. as always you can get links to everything. We talked about the full transcription head over to clarify and crypto.com. Gary, thank you. I think a lot of exciting stuff is going to be happening here over the next few weeks, and we'll see if, We'll see if Bitcoin is stays of how it's supposed to, because

Gary Leland: like I said, see where it is next week, 8,800 right now.

So let's see where it is next week. It's funny. It's funny though, that last night you said maybe it'll break 8,000 by the show. Yeah. Or that night for the last and the next time you broke 9,000. So when you said that, I was like, I actually think I said I laughed kind kindness. Yeah.

Erin Gregor: Yeah. I said maybe we'll be able to talk about an 8,000 number and then last night I'm like, Oh shit.

It's like over nine. I guess I should have shot for 10. So yeah. Alright. we'll see what we're talking about next week, but thank you as always, Gary, I always want to say Bitbucket bloom. That block, boom, gotta slow it every time. Use the code COUSINS for 30% off, correct?

Gary Leland: Correct.

Erin Gregor: We are still a go August

Gary Leland: to August during the, and if the Corona virus is harmed by the heat, We're really in good shape.

Erin Gregor: You're in, like you said, you just five minutes out in the sun, then you can go in and you're you are crystal clear. Yeah.

Gary Leland: I've had breaks every hour. Everybody go stand out in the sun for 15 minutes. Okay. Come back in. You guys should be proud of free, right?

Erin Gregor: Kill it. All. Kill it. All exactly. Gary, as always.

Thank you so much for talking this with me and we'll see what happens.

Gary Leland: Definitely. I enjoyed it completely.