When It Crashes, Do You Buy or Sell

This episode was recorded in March 2020 when the market crashed after states started announcing shut-downs over COVID-19.

It's an interesting time. We saw the stock market crash and even saw Bitcoin fall to $3800. Many got scared and sold, while others found it an opportunity to pick up investments at a discount?

The age-old investing advice has always held true, sell high and buy low.

What type of investor are you? Did you see this as an opportunity or a time to run? Gary and I talked about stance, and how we reacted to the start of this extremely wild roller coaster.

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Here is the full episode breakdown:

Erin Gregor: Welcome. We've got an interesting episode of Clarifying Crypto. I'm Erin Gregor. I'm with my cohost Gary Leland, Gary. Welcome. We're in the middle of the blood bath. 

Gary Leland: The blood bath is right. It's a strange and trying times. There's a lot, a lot of weird wild, wacky, crazy weird stuff going on. There's a lot of weird stuff.

Erin Gregor: So we're recording this on March 17th, Happy St. Patrick's day. Uh, even though we're all sitting inside quarantine. 

Gary Leland: So, no, I don't know if you're having any green beer. We're not at our house. You know, my father died on st Patrick's day. So I really, it's not a time to celebrate. It's been 15 years, but it's just, it's kind of weird, you know, wish he hadn't died on a holiday, which isn't bad at all, but especially on a holiday.

Cause I used to go out and get drunk on green beer, everything. 

Erin Gregor: Yeah, well, sorry about that. But, uh, anyway, it's been an issue, like we said, it's been an interesting week. So the question is we were talking about it before we hit record, but we have been going go down, go down to 3,800. Were you able to buy at the 3,800?

Gary Leland: No, I wasn't. I was buying on the way down when it got to 30, I don't know I was using the Cash App, which you talked about quite a bit last week. And when it got to 3,800, I said, well, I'm just going to go ahead and buy a Bitcoin. And I went to buy and it told me I had reached my limit for the day already.

So I can buy at the low for the day. I think the last time I bought anyways, it's 4,200, but at 38, I said, this is it. It's not going to be any cheaper than this. I'm just going to go ahead and get it over with. And I was right. That was the low basically. How did you know it's not going to get any cheaper cause I've been reading.

Erin Gregor:  it's just interesting. Cause I've been reading like could it get down to 32 could get down to the low threes. Like what was your gut telling you on that? That, that was your little. Cause I, I can't, I'm going to be honest with you. Any mojo? I think I've gotten and figuring out Bitcoin is just I'm done. I can't figure it out.

Gary Leland: That was, uh, that was the low 32 is basically the low 32 is basically the load. Then it got to. After the drop from 19, it went down to 32, which was in March of last year. So a year ago, I just felt like 38 was close enough to go ahead and jump on it, you know, maybe say, and I knew that was the low was wrong, but I felt like at 38 you can't go wrong.

Even if it drops to a thousand, you can't go wrong. So I was going to go in it and if it dropped more, I buy another one. Right. You know, so but I thought 38 was the point instead of buying a hundred dollars worth or $200 worth a day on my income, averaging I thought it was a good enough amount to go ahead and make the call.

Now, what is it? 53 now. So that would have been a good call. 

Erin Gregor: Yeah, it would have been a good call, but it keeps going up and down. I mean, the FA... what's going on. I mean, you're seeing this in the stock market. You're seeing it in Bitcoin and what's been interesting too. 

Yeah. Oh, no, no, no, I didn't get the question. That's why I was just, So, yeah. So with the, with the whole, with all the stock market, I mean, everything is going down and every time you think you have what you buy a deal, I've been buying stocks at quote unquote deals, and then the deal gets better the next day.

So I'm really, really not doing that well, but on a, you know, I'm. You, and I talk a lot about this and we are not financial advisors, which you need to do your own research before you do anything of what we're talking about, but, you know, it's that whole longterm income. But in doing that and reading a lot about this, it's been one of those things where, um, there's been a lot of talk about Bitcoin showing.

Is it really that great of an alternative, uh, of, uh, alternative investment? Because it is falling with the stock market because it's right in line there. We've talked a little bit about this last week, but seeing what's happened, you know, in the past week, what are your thoughts on that? Because it's falling, you can see the decisions every time it's crappy decisions made by the government.

Every time they make an announcement stocks, fall, Bitcoin is, is following that same pattern. Well, you know, I think though yesterday, I think was one of the worst days in histories in the stock market. Bitcoin held its own. Yeah. No, everything go down yesterday and yesterday, I think they had to stop the market.

So Bitcoin didn't actually follow it yesterday. And if you look at the things that are dropping, Gold's dropping, Silver's dropping, everything is dropping. It's not, it's not just stocks and Bitcoin. It's everything, which is kind of weird to me. It seems it's as if there is no safe Haven. And then you've got to realize Bitcoin is still trying to.

Grow into a safe Haven and an asset. That's not hooked up to anything it's young. So, so it's still growing into that. Um, so, you know, to me, if it's able to make its way through this crisis right now that strengthens it from that aspect as to being a safe Haven, but it's still trying to grow into one. Um, just my thought on it.

But like I said, everything's going down and, and if you've got a lot of money and your guy tells you to get out of everything, You're probably getting at it, everything, you know, and probably everything. And then also I read the other day, most of the Bitcoin right now, and it's being sold a ton of it's coming from companies that have invested in digital assets.

And most of it's being bought by people. So it's being bought by people. And so by corporations and stuff that are getting added digital access during these times. So, you know, long term, that can be a good dude because the handlers are still holding the people who truly believe I'm not selling, you know, and I'm sending people.

Yeah. And I'm buying two, I bought some more this morning. So, so the handlers are still buying and increasing their position. Yeah. Yeah. We'll find out who's right. I mean, you know, but, uh, yeah, there's a lot of panicking going on and if you just got into Bitcoin for the first time, your buddy said, Hey, you might want to buy some Bitcoin and you bought $50,000 worth that $10,000.

You're probably panicking right now. Right? Yeah. And they talked a lot too, like, we're good. We're going to get into a point where some people are going to need cash. And unfortunately, you know, that cash is either tied up into a stock or, or a Bitcoin or something along those lines. So selling will have to happen in cases like that, to where, uh, you know, they need that money.

So unfortunately you're going to see more selling. I think, I don't think the, I don't think we're done with this. I don't think we're at the bottom, whether it's in whatever. I think there's going to be a lot more playing out. Well, I think Bitcoin got hit with a double whammy. Uh, compared to stocks, our goal and that's reason.

So you consider Bitcoin got the double whammy. I'm going to call it. I think it's done pretty good, but you know, Bitcoin, before the stock market went, this bad was already having trouble from the one coin. Scam that happened. You know, one coin was a scam that happened last year, a multilevel marketing of a coin.

Gary Leland: This lady made who evidently was really smart because she made a lot of money and she talked people into buying the one coin with their Bitcoin. And so all these people invested in one coin, a coin she made, and whenever people would say something, you know, she would convince a with her conventions and stuff that scam they're trying to.

Take your money, keep it in one coin, spend your Bitcoin. And one day she disappeared. I heard about, yeah, well, like right before all this started happening, I told my wife and said, we're getting ready to see Bitcoin drop maybe to 7,500 7,200, because a lot of that one coin or a lot of Bitcoin that she had had been moved to exchanges.

Whenever you see something. Big like that. That's from a scam moving, they're getting ready to sell it. And so that price was already going down. I believe from the Bitcoin and the OneCoin scam. Now the Bitcoin wasn't a scam. Just clear that up for the audience. She made a scam coin to get people's Bitcoin.

So the big point was a good Bitcoin. It was spent on a scam and people freely gave her their Bitcoin talk, their friends and relatives, and to given the Bitcoin. Way to get the scam coin. Cause it was a multilevel marketing thing. And then she disappeared. Now there was warrants for arrest. She had like $10 billion or something.

She got out of people in that coin. Like I said, it started moving and whenever that stuff sits still for a long time, it started moving. That means it's going to probably be going and being sold and dumped on the market. So I was looking for a drop already. Then you had this happened with the financial stuff on top of that.

So, like I said, we've had an incredible drop, but I think we had a double whammy hit on, not just, not just the financial thing we had the one coin sell off too. Yeah. And so the fact that it set sitting at around 40 or 53, 5,400, isn't horrible. 

Erin Gregor: Did they ever find that woman there's a podcast about it, right?

Gary Leland: Yeah. I'm sure there is. Also been interviews with people taking in the scam. And at first, you know, they were arguing with the people. This is not a scam. You're crazy. And then they've gone back to those same people. No, you were right. I should have listened to you. I got scammed terribly bad. I lost all my money.

My parents lost their money, you know, from her, but her brother took over when she disappeared, but I think he's been arrested also, but they've not been able to find her. So she disappeared with the keys to the, uh, to the wallet. And no one has found her and she's very well at the person right now. We may catch her and they can send everybody their money that are out.

If you consider that it's to me, Bitcoin is done. Okay. Cause this had this more than any other assets had happened to them and they've all gone down. Right. So, no, and that's a good thought. And right now, too, we were talking about this too, before I hit record, but the fed keeps announcing, I mean, it was started as a 700 million or $700 billion trial, a bail out.

They're going to lend money to hotels and airlines. And that number keeps increasing where we're getting this number, this money I'm still very unsure. Hahaha. But, um, now we're going to get there talking about everybody's going to get it just a check sent to them. It's going to be like Christmas. We're all gonna get a thousand dollars.

Uh, I like the idea hearing where they aren't gonna charge. It will make us pay income taxes for last year, more than a thousand dollars. I heard that one yesterday and the day before you're talking about canceling the income tax, no one has paid income tax for their income from 2019. That wouldn't be a good deal.

That'd be a great deal. But actually it would be pretty, pretty fair to cause the people who made more money, haven't gotten hit harder than the people. I think who didn't make as much. Cause people didn't make as much, haven't taken a big loss, you know, and don't have as big a bills as the people who did make a lot.

So if they did something like that, it's proportioned according to your income. Yeah, it probably is too fair to me. Cause that's seems more fair. I mean, it's nice. Everybody got a thousand dollars, but a thousand dollars to someone who makes a million dollars a year, it's not going to help them out very much.

You know, someone who makes minimum wage is going to be a big deal. But the only side to that is the people probably making minimum wage or harder up on a job right now than the person making a million dollars. Right. I mean, hopefully the person making a million dollars, isn't hit too. I mean, you have to be super irresponsible if the market goes down and you're hit that hard that you can't pay your bills.

And I think it's, Oh, no, I'm not saying they can't pay their bills. Let's say for instance, not to, I'm not saying I make a million dollars, but my retail store, I haven't had a person at my store at three days. Wow, come in my store or like my wallpaper store is for some reason they're going into wallpaper store, but my other going into paper stores it's because now is the time to get all the projects done.

Erin Gregor: We have spent so much money at Home Depot because you're in your house all day and you're looking around going...

Gary Leland: Yeah, that might be it. Cause we've had a good day today, but no one, but all softball games and baseball games, tournament games are canceled. So no one was buying baseball, softball equipment, my sporting in store.

So technically I'm going to weather through this fine, but I'm going to lose a lot of money, right. You don't know, by being open in case someone does want to come, because I don't want to like lay off my employees and say, you guys stay home. They need the money, you know? So I'm keeping the doors open. If I was wanting to be a greedy little pig, I just go, I'm not making enough to make it worth it, even do the employees.

So I'm just going to shut it all down until it's better. And then they would be hurting. So that's why I said, yo, people who have more money I think are going to have a much bigger loss. I'm not saying they can't live. They just going to have a really big loss. Yeah, no, I agree. But I feel like too with this whole, I mean, I'm going to be honest with you.

Erin Gregor: The whole bailout, the whole 0% interest. All of these things that the feds are just like knee jerking and putting out there make me so much more nervous than the coronavirus. Like I agree. 

Gary Leland: I couldn't get hurt by this, in the long term, but you know, you got 0% interest rate, quantitative easing going on both of those at the same time.

If they don't work. There's nothing left. Right. You know, I mean, and like I said, the I'll take the thousand dollars. Don't get me wrong. I'd take $500. But a, those two of the quantitative easing and the, um, the 0% interest rates, I don't know what more you can do besides that, you know? And that brought up, brought me to my.

Other thing I was telling you about money in the bank, trying to get this. 

Erin Gregor: So this is super interesting again, with the whole false idea that the money is ours. Everything is taken care of tell this story because I feel it's really interesting. I had no idea about this. 

Gary Leland: Well, we went down to Fredericksburg for the weekend in which I guess 65 year olds shouldn't be out in public.

Much less to go on vacation, but one of the way back from reading blogs, I said, you know, I'm seeing money. In Manhattan. Uh, they went, had to run on the banks last week and they were only allowed to get out $3,000 from Bank of America. They had limited it to $3,000. So we decided Monday morning, we were going to go to the bank and pull out, just pull out like 8,500 or something , a little bit of cash.

So my wife went to the bank yesterday, said I'd like to withdraw 8,500, which we have way more than enough. It's not like there's not enough in there. And they said, the all you can have today is $2,500. And she's like what? And they said, that's all you can have is 2,500. That's all we're giving people are $2,500.

Um, and she was a little upset and she was like you going, but that's my money. Which, as I told her, when you got home, as I told you, it's really not your money. Well, it's not your money. It's the government's money, it's the fed's money, it's not your money. They're allowing you to use that money. They can take it away. anytime they want to. They do it from people all the time. They take money all the time for people's accounts. You know, they shut it down with us for criminal reasons or whatever. Or they take it cause it's not yours. It's theirs to do what they want with. And I'm not saying they aren't proper reasons to take it.

Don't get me wrong. It's just an example that they can take that money and time they want to, it's not really yours, it's theirs. And they allow you to have it. You have permission to have that money. That's how I look at it. But anyway, she was able to get $2,500 and they said you can come back tomorrow and get more.

But I haven't talked to her today. I'm open. It's still $2,500 a day. It could be $2,000 today. You know, it could be $1,500 tomorrow. I don't know what the limit is. The more people that figure it out and start going by to get money. The less is going to be, cause they only have so much cash in the bank.

Right. I was talking to my sister yesterday. I told her, she goes, well, where did I do with my money? I give them my money. What do they do with my money? I said, do you really give them money? Or do you give them a check or a transfer? And she goes, well, a paycheck. I said, well, you really don't give them cash.

Do you? So why would they have that cash sitting? You know? So, um, Yeah, it's limited on what you can get right now. She went by her bank and asked for $5,000 and they gave her $5,000 and she says, she's the only person in the bank. But I think it may be in bigger cities right now that you'd have the problem with.

Yeah, she's in a town that the whole City/ County, everything around there's 500,000 people. Well, what are we like 5 million people in New York, like 10 million people. So New York saw i t first now we're seeing it. So I imagine that all the major cities are seeing it first because there's more people here to go get money, you know?

And as I.

Trickle down model,

but as I turned money at your desk, and if there's no issue or you put it back in for free, it doesn't cost you at the hand, but I don't want to see my bank. the Seattle LA house. I mean $300 day or two ahead of that. Hopefully I'm wrong. Yeah. Well, and it's one of those things too. Like we talked about, it's not like you're getting any interest right now.

I mean, it doesn't cost you anything. It's not like you're losing money. As long as you put it in a place where it's going to be. A safe, you know, it's not going to be found and stolen, you know, cause most people aren't going to, I mean, there are some people who live in situations and they can't really hide large amounts of money.

Right. Most people could take. You know, some money and hide it in the cushion or in the attic or someplace that no one's gonna find, you know, and this is just crazy to me, cause I just didn't think of that at all. Like I was just like, Oh, you know, I mean that, I probably should be thinking about getting some cash out just in case like I lost my mind word gets out about money.

Paper, gosh, I mean, that just shows the herd mentality. Someone says that about toilet paper and everybody's getting toilet paper. I mean, you know, Why there's something about money, wait for the word gets out and you can't get all your money. Well, I just don't understand the toilet paper thing. I just really don't understand the toilet paper thing.

I think that herd mentality thing, I think as strictly cause if you're worried about what's going on right now, you're getting food. Yes. And not water. It's all coming out of it. I mean, to me, I can get all the water I want out to see if it gets that right. That's not like a big issue to me. Yeah. We drink bottled water at the house, but I'm not that worried about it.

My sink water's okay. It's filters coming out. It's a frigerator, but food, you know, we went to Costco last night. Got the bacon roasted chicken. I mean, we got a ton of whole lotion cart full of food, but couldn't get toilet paper. No. So they're, it's weird. They're hoarding the wrong thing. Well, and I always say like, if the world is ending, okay, first of all, the current vice has no diarrhea associate.

I could see if people were scared of getting coronavirus and there is, but that's not even there. And I'm like, if the world is ending and like, like. An unwind ass is like the least of my worries. Right? I mean, I think we have bigger problems than not having toilet paper. So I don't understand this. Not that I stand in the shower, as far as that goes said, it's just a herd mentality.

Somewhere. Someone started this. RPB we'll start it. And the herd caught on and they're all moving. You know, whether it makes sense or not, they're going, I need a cartload of this stuff. This is enough toilet paper for me to last three years. You know, I mean, but I need three years worth of toilet paper. No, but the food, I don't need to stock up on any food.

I need toilet paper. We'll serve ourselves to death, but it's not necessarily that paper's in the pantry. We're good. We're good. We can go poop and not have to worry to me. Money is more important if I was going to stock up on something, you know, I think I was stuck up a little, a half pint to Jack Daniels.

Yeah, go to the liquor store and buy cases of little pints. There's a little half I'm to, I bet you could sell those in the world. Came to an end. Everybody's doing this still. You know, you have a bottle of Jack Daniels. Oh, I bet that'd be worth its weight in gold versus drinking. Something out is still cause people like drinking when times are bad.

Things are bad. Self-medicate , 

Erin Gregor: No, I've thought about it a few times, but , so let's. I, you know, to me again, I'm just doubling down on things. I really feel...., I don't feel the stock market's done. I feel, I mean, cause we're going to see now all these people coming out with earnings and obviously misses earnings, but um, I still feel this like for Bitcoin, especially I'm I'm following your lead and, and buying every day, putting down every day, uh. 

Looking at it. Cause I just feel like right now there's good deals to be had. So let's go talk news. Cause you have a podcast called four-minute crypto five days a week. Any, any good news that outside of the trillion dollar bail out, which is frightening, but even more case of Bitcoin, any other news that's been out there and for Four Minute Bitcoin, 

Gary Leland: Well, the, you know, the, are you familiar with the stock to flow ratio?

Erin Gregor: Heard of it, but explain it. 

Gary Leland:  I can't explain it that well, I can't explain it, but I know that I know the stock flow ratio is made by a trader who has been training for years and years. I don't think anyone even knows who the guy is, who has come up with the stock to flow ratio. And I was just reading this morning, whoever this guy is that does the stock flow ratio.

He, which is kind of weird. It'd be quoting someone who he is. But he's still on board that is still everything's going just as smooth as could be for Bitcoin. So most people who are into Bitcoin still feel pretty comfortable with the coins, what I'm getting at, um, that you don't have. You don't see a lot of people who really are heavily involved in Bitcoin, freaking out.

They're still on developing stuff for Bitcoin. They're still all coding making products for Bitcoin. Things are moving right along for Bitcoin. And that's just a Bitcoin conference. Then they're all, they're all gone. You know, consensus just cancel yesterday. But from the people who are developing Bitcoin, they just, just moving along, just like nothing happened, you know, which is a good sign that, uh, that's all moving along forward.

The same motion. 

Erin Gregor: Isn't that the same? Isn't the stock to flow ratio. If you were to value, if you were to use that assessment, Bitcoin should be valued at 50,000. Isn't that the thing that. Yes. 

Gary Leland: Yeah. Then it's way undervalued. But before, before this even happened, it was way undervalued flow ratio where it's off of a, how much of something there is, and there's only 21 million then only be ever 21 million.

So, you know, the fact that there's such a limited supply and the amount of inflation in Bitcoin actually will be less than gold. After the halving in like 70 days or something, the inflation rate of gold will be higher. There'll be more new gold made percentage wise than there will be Bitcoin, you know, so, and that all works in the stock.

That flow how much there is according to how much is being produced, you know, type thing. But like I said, I just brought that up because he's really that brought him up. Cause I just read an article about his thoughts and then put that together with the fact everybody who's doing anything in Bitcoin is still pretty much just pumping out.

Like they always have been the people who don't know much about Bitcoin that you see panicking. They haven't seen Bitcoin do this before they haven't ridden Bitcoin from 17 to 3000. Like the other day I saw a GIF of two guys on a roller coaster. And they're just sitting there calm on the front seat, they're doing it for the GIF and everybody else has got their hands up and they're going crazy.

And it's going, the guys in their front seat have written this ride before with pinpoint, you know, they're called because they've seen Bitcoin do so. So I don't know. My wife is all crazy and I'm not worried about it. I keep telling her it's going to be fine. Don't worry. You know? Cause she didn't pay attention to last time I went and went from, you know, 20 that's 3,200.

I haven't done this before. Yeah. 

Erin Gregor: Well, here's the deal too. Like, I haven't been doing it nearly as long as you have, and it's pretty roller. It's been pretty roller coaster ish this whole time. Like, um, I guess like in the sevens it was dipping, but there was at one point, I think we got it at like six.

We were talking about it. I mean, it wasn't that long ago it was down in the sixes. So, I mean, I feel like.

Yeah, exactly. And like, I haven't even been, so it's been very roller coaster ish. Um, I think where I get caught up is not the lows at this point. Like I don't get like, I'm like, okay, lows, buy, lows buy, lows buy. By where I get caught up on the road is getting really super excited when it gets high thinking.

That's going to be the takeoff. Do you know what I mean? That's my problem where I'm like, Oh, it's nine dot. Oh, it's hitting like a couple, I guess it was a month ago. Cause it was when I was flying to Hawaii, I made sure I got a purchase in right before the plane took off. Um, and I ended up going over to the, over the 10 Mark and that's where I'm still.

Haven't been able to chill my emotions. We'll put it that way. Like I'm like, Oh my God, this is going to be the takeoff, this going to be take off. And I'm gonna miss out on, you know, a four digit Bitcoin price. So, u , that's the roller coaster. 

Gary Leland: The lasttime, you'll see Bitcoin under 10,000, how many times?

You know, but like I said, you know, just one coin scam that 80% of their Bitcoin I believe has been sold now, from what I've read. So, you know, last year it got up to $14,000 and then the scam hit and it dropped is working its way back up to over 10 and more sold off. So they've been selling it off every time it gets back up, they're dumping the price.

So that kind of stuff happens. Cause back in may of last year, when it got up to 14,000, you know, that whole pricing deal had to do with the scam and it dropped radically after that. So that one point scan has been a thorn in the side. So like I said earlier, you'd take the economy, the one coin scam. It's the double whammy that happened through Bitcoin.

But yesterday, yesterday, Bitcoin held its own. When it's stock market at it's worst day ever today, Bitcoin is holding its own. Again, I don't know what the market's done because I really don't look at the market that much. Um, so I don't know what it's...

Erin Gregor: The market crashed a little bit this morning and now it's kind of leveling out a little bit.

Gary Leland: Okay. So, uh, is it still down or is it even?

Erin Gregor: Um, I don't know where the price is. Um, 

Gary Leland: Because Bitcoin's held its own all day. It really hasn't done anything going up a little, go down a little bit, nothing drastic, but I think if everybody gets a thousand dollars, that's a good point. 

Erin Gregor: That's where my thousand dollars is going. And I guess I may get some more for the kids too, so maybe I'll buy them some Bitcoin. Uh, but yeah, no, mine is all going into investments. Like we're, I mean, we're in a good spot right now. Like I've worked hard to make sure we're in a good spot right now.

So I'm not too worried about any of this at this point. I'm not worried about the coronavirus. I feel like it's been a little, over-hyped a lot of, over-hype going to be honest with you, but. The worry is how long this is going to go on. You know what I mean? 

Gary Leland: Just that's their concern. That's the big concern to me is how long is it going to go?

And not, I'm not really concerned if I get it or not. You know? I mean, like I said, we went to Fredericksburg this weekend for three days. We're not that worried about it. I mean, we just were smart, you know, but I don't really, I'm not that concerned about getting it as I am. You know, what happens if a month goes by and no one comes to my store.

Or three months go by what happens about the cancel, cancel my conference. And I'm already, I've already spent a ton of money, you know, on that conference. You know, there's a lot of, a lot of, and I know that a lot of people like restaurants in Dallas County, they've got to close that, right? Yep. Yeah.

Restaurants and bars, those people and the people who work there. I mean, there's a lot of people not making money. Exactly. That's when it caused a lot of damage. 

Erin Gregor: Exactly. And if this goes on, I mean, Trump has said when he threw out June, July, or July, August, I can't remember, but I'm like, Whoa, Whoa, Whoa, Whoa, Whoa, 

Gary Leland: Same thing I'm saying, Whoa.

You know, we, uh, you know, I saw a thing today. Now I'm not a doctor. Someone sent me a video that, um, viruses happened in the winter time. And so in the summer time you don't have viruses because of the heat. Right. They can't live in the heat. And it said, the reason you get viruses is because your sinus cavities are the coolest part for your body because you're breathing in and out the cold air.

So it's the coldest part of your mind? So that's why you get viruses because it's cold air. So that this video said you should sit in a sauna for 20 minutes, twice a day, and you won't, it would kill any Corona virus that you can get. I don't know if that's true or not. It kind of makes sense. 

Erin Gregor: It makes sense, actually.

So we started getting sick here, upper respiratory. I don't, we've been self quarantining, but we have a sauna and we have been taking advantage. I don't .. I haven't been doing it twice a day, but I've been sitting in the sauna. Because, yeah, I heard it. It doesn't like the heat, so hopefully we start heating up in it.

I don't know. I mean, I hope that people stay in and it goes away. I don't know, but this, this whole thing is crazy. However, like not to get doom and gloom, but like my husband and I were talking about it last night, you know? And it's like when George Washington was here you know, they would have small bot pox outbreaks, right.

And they'd have to shut down cities or you'd hear about people moving out of cities because of smallpox. Like, we've been very blessed that we haven't been in a situation where we've had to, you know, ever come across something like that. But it's not exactly 

Gary Leland: The 19 late bird flu. You know, it was like that.

I was reading old articles in the newspaper, not in the newspaper. People, somebody had clipped out old newspaper articles. They were going around. They had like Cruz in 1908 or whatever. Um, uh, bird flu. People who went around, making sure people were wearing their mask. And I read a couple of articles when people got shot, they shot him in the leg cause they wouldn't wear their mask.

So the guy is where the bird flew inspectors shot him in the leg, took him to the hospital, they have their wound done. And then they got arrested because they didn't have their mask on. You know, so stuff gets crazy. I mean, you know, stuff can get crazy. That was weird. You don't wear your mask. So they shoot you.

They don't want you to get. Yeah, they take you to hospital on three in jail where it's probably been people with bird flu, but the Dominican Republic, this is kind of weird. In the Dominican Republic, he was posting, he had his phone with him. They have free tests for coronavirus. So he went in to do his test.

Well, they didn't tell people, or he didn't know that if you went in to get tested, you had to stay there until they decided if you had it or not. So he was in two days in like a Coronavirus zone, jail type thing. Bathrooms were broken, running water was messed up. He is sending out messages on his phone going, man, it's been 24 hours.

Now I'm stuck in here. I'd never come, but I know this was going to happen. Cause I think a lot of these people that have Coronoavirus, and I'm stuck in here now, Oh, my God. So you're better off just quarantine? If you think you have it. 

Erin Gregor: Exactly. Because that's what's my, anyway, I could go on and on about this. 

 I'm glad people are getting help that, you know, that need it, but it's such a panic, but hopefully, hopefully things even out I'm, I'm a long haul type of girl. I'm not in a panic. And this is like I said, really, I kind of, in 2008, I wasn't in a position to purchase the losses and really be able to clean up on the bloodbath.

And so at this point, I feel like I am in a better position. I definitely want to make sure that. Um, you know, this is where people really come out on, on the top is when they pick up Bitcoin at $3,800, if they can get it, or, you know, stocks at a cheaper price. 

Gary Leland: So, well, actually, like I said earlier, I'm now transferring money to, and that way. When I feel it's a great opportunity. Again, I have the money sitting. That's the point is having it sitting there enough, sitting there to take advantage of it because you know, you go to. You know, Coinbase, well, it's going to take you, it seems like a week to get that money in there. 

Erin Gregor: It's a week.

It isn't literally a week. Yeah. 

Gary Leland: You can say, Oh, it's worth some money. Why it could be 6,000 by the time your money gets there. 

Erin Gregor: Exactly. And like I said, that, that has saved me a couple of times. Cause I was like, I gotta buy some and then it's like, A week later it's gotten even lower. So I'm like, woo, thank you, Coinbase for the delay in purchasing.

But then there's times where it does hurt you a little bit. So anyway, uh, like I said, we're not financial advisors, but I've been having fun with this. We're not doctors stay inside. Do what the government's telling you, we're doing it here we go for our daily bike ride, but that's all we get out. But, um, yeah.

Do what everybody's telling you. But I, like I said, I'm looking at this, like, this is the opportunity time and, uh, definitely not in a panic, but it's definitely, it's been interesting. Definitely. 

Gary Leland: You don't want to get around me cause I'm still definitely going places. I went to the eye doctor yesterday to get a new prescription lenses and, you know, I decided to put off getting 'em.

My glass or crystal insists, cause that was like 7,000 out of pocket and I'm going on and it's not a good time to do it. And it's not a good time to be spending 7,000 on that. I baked my glasses that way. I have 7,000 in cash in the bank, $7,000 for glasses, uh, as getting crystal lenses, Medicare. Well, that's what they call it.

That's what they're made at a crystal lens. That's what they call them, I think. But, uh, when you're on Medicare, so you get a lot of free stuff and I can go in and get crystal lenses. Cause I have gloves. Um, I have, , Oh, I don't know what it's called, but I see, like at night I see stars on like taillights and there's a name for it.

I can't think of it right now, but I have the starting condition to that. And so my eyes are not as good and things are darker I think, than they are for normal people. So I can go get crystal lenses for free. Yeah, so I've got new lenses, but the crystal lenses, I would still have to wear like reading glasses and possibly glasses for distance.

Then they have an upgrade that's $3,500 where you don't have to ever wear glasses far away. But you'd have to wear them for reading. Then they have the newest kind that just came out that are far away, close up everything. You'd never wear glasses again of any kind. And they run $7,000 upgrade. So the basics are free.

Medicare pays for it. Phase one or phase two rather is 3,500. And in phase three where you'd never wear glasses again, the rest of your life are $7,000. And I had a scheduled to do. I said, yeah, I think I'll just wait. Cause I don't know if now's a good time to be getting surgeries done. Cause it's basically a surgery, I guess, in your eyes.

And I think I'll keep my $7,000 and just get glasses and next year, get it done when it's over, but still Medicare paid for $400 for my glasses. Just like the best deal ever. I mean, you know, so pay $400 on my eyeglasses even. I don't know why, but it does. That's good to know what it is is heaven. 

Erin Gregor: You could have bought two Bitcoin with that money.

Gary Leland: Oh, yeah, yeah. Would be a seven. That's why, that's why I haven't spent it. I'm normally just going to keep that $7,000 for a year and next year I'll look at it again. So next year maybe I buy two Bitcoin and I sell a half of, one of pay the eye surgery. 

Erin Gregor: And so this year we were looking at getting a pool and we're putting the pool on hold a bit to do more investing.

So yeah, sit tight. 

Gary Leland: Where were we actually, we're taking an estimate yesterday to do a room addition upstairs to build a studio upstairs in the attic space to redo that as a room. And I said, you know, maybe we should have people coming into the house. Maybe it will be that cautious, not to have him come in in the house because I'm not spending $40,000 on that today.

Anyway. So we're not going to do that until this is all over what? So no need to have him even in the house. But I figured if I moved my studio up there in two years, I'd break even by saving rent and my house value would go up. So it's kind of a no lose deal on that. 

Erin Gregor: Yeah. I hear ya. All right. Well, we'll keep buying.

We'll see what happens over the next week. 

Gary Leland: Keep stacking those sats is what people need to do as far as I'm concerned. 

Erin Gregor: I know. Well, I'm doing my Fold too. Although Folddisappointed me because we've been taking, we've been taking advantage of this whole stuck inside thing and doing a lot to the house. I've held off on people, but we're doing what we can.

And, um, I had, I had some big Home Depot purchases that their Home Depot gift card was not on there. And I even went away to Target went away, uh, like all my Amazon. 

Gary Leland: So they're having, they're having. I mean, it's not like I'm not buying stuff from Amazon anymore. 

Erin Gregor: Why are you buying stuff from Amazon? 

No, it's not like I'm ever going to say that. Oh yeah. It's not like I'm ever going to go to home Depot or Lowe's. I mean, I bought Lowe's too when home Depot, when that came on there.

So I don't have any lows might as well get some of that in case I'm there because I'm bound to be there sooner or later, too. They need to add more stuff. 

Gary Leland: They do need to add more stuff because I really would have liked that $500 home Depot gift card, but it's okay. It's okay. If they want me to get back to my million, cause I already took some off, but if they want me to get back to my million, they need to, they need to help me out a little bit here.

So

 yeah, I'm just putting stuff in my wallet, but did you see the news that. They just hire minutia and just hire the head lawyer for Coinbase to come work for the treasury. 

No, I did not see that. 

Yeah. Yeah. Now it's that yesterday and he's a real big, big Bitcoin guy. He really likes Bitcoin. So you have now a head Coinbase attorney or whatever is now working for the treasury.

You have a Senator. Um, Kelly can't think of her last name is Senator from Georgia. She worked for Box running their Bitcoin department. So you're getting people into these wings of the government that are definitely Bitcoin. That's good. That's good. That is good. Yeah. Keep it going. Keep it going. Keep that Bitcoin and regular normal mode as a normal thing.

Erin Gregor: Exactly. Exactly. All right, Gary. 

Gary Leland: Well, more of our Corona virus. Well, it's affecting everything now. 

Erin Gregor: Like it's affecting Bitcoin. It's affecting, uh, I mean, it was, it hurt a lot when I saw it go down to 38. I'm like, Ooh, I bought some, but yeah. 

Gary Leland: Yeah, it goes down to a thousand. Are you that hard? 

Erin Gregor: I would buy a lot at a thousand.

Like I said, my pro like I'm okay. On the day. Like, I really am. I'm I'm to a place I've been watching this long enough. I've been reading about it long enough. I've been studying it along enough. Yes. There's still moments, but overall, I feel this is it. It's never going to go. It's not going to go away.

Right. It's not that all this money I've invested is just going to go to zero.

Gary Leland: You don't lose any money. Well, exactly. But if it goes to something big, right. 

Erin Gregor: But if it becomes completely. Oh, yeah, it was zero value. Like that's good. So I I'm, to that point, my, like I said, the emotion I have is when it starts to go like that P Oh, it's going up. It's going up. I got to get in. I got to get in.

I got to get in. So, um, that's, that's the emotion I have to learn to level like it's going to be okay. And I think like, you know, for you, you've been around long enough that, you know, but, uh, but yeah, so just to get to that point, So anyway,

I'll get there. I'll definitely get there. All right, Gary. Well, thank you so much. Hopefully we have a good week, a time for us to, I'd like to see it get about 6,000. That would be nice. Well, buy a little bit more before it does, but I'd like things to not keep falling. I'd like to see no more falls for a little bit would be nice.

Gary Leland: So yeah. I agree. That was a nicest state at over 5,000 last two days. Yeah. Yeah, exactly. 

We know people who are listening to this, it can be $10,000. By the time they listen to this and they go, Oh my God, what idiots they're like 1000 will be that long. So it goes, well, we'll see. Who knows who flipping knows.

I think if there's one thing we've learned, you cannot time this thing. Yeah, two weeks. It could be 10,000 for all we know exactly. Absolutely. Or a thousand we'll be buying up. So anyway. All right, Gary. Well, thank you so much. Uh, check out all the episodes, check out any, um, all the information is ove at clarifyingcrypto.com.

You can follow Gary @GaryLeland on Twitter. And BitBlockBoom.com. 

If you use the code word cousins. Yes. If you use the code word cousins, you will receive 20% discount off your ticket. Alright C-O-U-S-I-N-S . All right. And it goes up like every two weeks. So really you want to buy your ticket if you're thinking about coming and then lock in that price.

Because like I said, it doesn't happen. You're getting your money back. So it's not a big issue. All, all right. Clarifyingcrypto.com. Thank you, Gary. Thank you. .