BitcoinMeister talks Bitcoin and cryptocurrency at the Los Angeles meetup in Century City- Part 1

I’m a little bit known for being a Bitcoin maximalist but no it was okay but for me I had only used Fiat on Bitcoin I
do have other all coins because people have given to them to me over time so
let’s start out here I’m just gonna if you’re familiar with my videos I just
have a bunch of like little sayings off and then I just expand upon them so
that’s how I’m gonna do this today but let me see real quick okay
tuning out the crypto noise how to stay focused and keep your Bitcoin and what
to pay attention to that’s that’s what we’re gonna talk about today so who was
around back in year 2014 in the 2015 in this space who is around key so not that
many people so what happened then well in the year 2013 the price of Bitcoin
went it’s spiked to over $1000 it went from like two hundred to a thousand and
all sorts of people were talking about it all sorts of people were buying it it
was pretty big and then they were say in exchange called mount docks that was
hacked let’s leave it at that and the price went down from a thousand
to eight hundred seven hundred to six hundred five hundred and then back up to
six hundred but then from on 2014-2015 it was a bear market to say the least it
went down to two hundred dollars eventually and everyone there everyone
on there and their mother was saying oh it’s dead you were a fool if you paid
$700 for it it will never go back up to a thousand dollars and many people were
very discouraged and people sold their Bitcoin believing all these naysayers
nothing about that person look back would you pay $1,000 for a Bitcoin now
would you make fun of someone because they spent $1,000 on a Bitcoin so we we
have these people out there who are Bitcoin peak
as I call that are always very willing just to say Bitcoin has already hit its
peak and they’ve been wrong every single time you you have to be a long-term
thinker in this game and so right now what we’re going through is there’s a
lot of people say oh it went up to it’ll never go back up to 20,000 someone
interview me the other day and said well now we’re in a post $20,000 a Bitcoin
world I’m like oh that implies it’s never going to go up to $20,000 again
sure it’s going below it but you wait around long enough it will come back
just so what I’m saying is I’ve experienced everything that everyone’s
experiencing now but in 2014 and 2015 and some I want all of you who can who
were around back then to think back to that that day and just be reassured you
know there are bear markets in in whatever in Bitcoin in the stock market
and that’s what we’re going through now but you cannot become fixated on the the
supposed gurus out there you can’t be scared out of your out of your Bitcoin
and there’s right now there there’s a lot of that going on don’t be distracted
by the anxiety of others I think that kind of sums it up because if you are
you’re gonna become anxious and you’re gonna do something that you’re gonna
regret in the long run I mean how many people from the past I
mean they regret it very much so now that they sold their Bitcoin for $700
because they thought they thought there was neighbor smarter for a while when I
went down to 200 but when it you know got back to a thousand when he got back
to 2,000 I got back to where it is now you know it’s hard to buy back you know
it seemed more expensive to buy back now at least so keep that in mind you don’t
think that this is a a unique period of time because there in the mainstream
media there’s all you can you gotta be able to tune the crypto noise out and
there’s of you familiar with my channel have heard me say that before but
another thing that I say that applies to the topic of today is personal
responsibility is the new Cal that’s what that’s what bitcoin is about
if you sell your Bitcoin and you try to blame it on love the media said it was
going down no it’s your fault you did it you Bitcoin is all about taking full
responsibility over your finances and you you have to keep that in mind that
you’re the boss of this money you are the boss of this money so you can’t
listen the justjust make a rash reaction but just an impulsive move based on what
someone else says you got to be very slow and methodical about this and again
remember that one Bitcoin equals one Bitcoin no matter what the price of the
bitcoin is in terms of Fiat one Bitcoin equals one Bitcoin and that
should be reassuring enough because you’re never if the price goes down I
don’t know what it is now eight thousand if it goes down to six thousand I still
have one Bitcoin is still they you know we’re gonna have a 20 20 having into
your 20 big point I’m not gonna get into what the having is but there’s a have
you should I hope all of you know what a big point having is if you don’t look it
up on Google it’s a really important aspect of Bitcoin and it’s there’s no
shame in not knowing everything about Bitcoin either and if you ever are
confused if you ever feel like well you know what I am NOT I’m not an expert in
this thing or maybe I should sell it no dude do your own research learn about
learning about it makes you more confident and did she make it gives you
a stronger hand definitely you don’t need and speaking about that personal
responsibility again we have a lot of people that are getting into that we’re
getting into the space at least now people are slowing down coming into the
space and and obviously not when the price goes down people don’t even want
to go to events and people’s your views go down on YouTube and everything like
that but we did we did have some people and maybe some of them are you who let
other people manage their portfolio that’s a good way to lose your
cryptocurrency if you buy into some crypto hedge fund
or or anything where you don’t directly on your Bitcoin but they made it easier
for you you don’t know if they really have you even bought the Bitcoin they
say they have you don’t know how they’re managing it I know it sounds you know a
lot of people who used to traditional finance models are used to other people
managing their finances yeah I was just talking to a friend of mine is a really
smart guy he’s a businessman he’s like yeah I just let someone who managed my
entire stock portfolio okay that’s his business you don’t let
someone do that with your big you do not let someone do that with your Bitcoin
I wouldn’t let someone do that with my stocks either because this is this is
all about personal response what bitcoin is about personal responsibility
managing your own private key and that’s a good way to lose your Bitcoin if you
get into one of if you have some managed portfolio or something like that again
you can’t and you can’t get to up or down when you’re listening to headlines
or reading headlines in the news about Bitcoin here’s a headline from Doug
Casey now this one isn’t about Bitcoin but these are the type of headlines that
you read about Bitcoin sometimes and they make you get anxious prepare for
the last bull market of our lifetime come on dudes
come on if someone says that they don’t know the last opportunity of your
lifetime this is the lip no duh don’t that’s to scare you off of whatever you
were holding and to make you buy a newsletter or something like that never
get too enthralled with these people who say such bold statements just you’re
going down the run wrong track and you’re gonna have get a weaker hand I
would say that when the price goes down a lot of people especially people who
paid more than the current price they are always asking well why is the price
going down why is the price going down did they want an answer and you know
what sometimes there isn’t a good answer and if you start worrying about why the
price is going down you start spending a lot of your time
reading nonsense watching nonsense it’s a complete waste of your time so my
advice to you guys is don’t people say why yes why yes don’t ask why
just remember one Bitcoin is still equal to one Bitcoin the price is going to
fluctuate it’s a new asset class so get used to roller coasters in terms of
price some things you know it’s fun as anything you know but it all of a sudden
goes the 15 to 16 and 17 thousand dollars right then there are other days
it drops you know there’s no beans well it drops two thousand dollars in the
future you just have to get back through your head not to be scared by those days
they’re going to happen but in the long run in the long term it’s it is a store
value it’s going up in value I can’t make exact predictions no one after what
it is people are gonna ask me what’s it gonna be $250,000 I can’t answer that
and I don’t know if it will ever beat you more than $50,000 but as I go I
don’t like getting people’s hopes up because again I talk about not getting
distracted by fear uncertainty and doubt but you also get you can’t get too high
either you can’t you can’t get stuck on these people you know there’s certain
people out there who love to make these very specific predictions it’s going to
be thirty three thousand three hundred thirty three dollars seriously the
people who say things like that because sir people love to hear the repetition
of numbers – now don’t don’t fall into those traps either you’ve got to just
keep up a level head about this type of thing and try to deal with people who
have experience now there’s nothing wrong with being in a mutant space but
if you’re watching youtube channels and the guy says he’s an expert but he’s
only been in the space for six months six months is in a long time now I get I
know this is a new space and everything but you know try trying to be around
trying to if you’re gonna you know try to understand people’s opinions or get
other people’s opinions that they’ve been around at least one and a half
years or something since before since before this current well we’re in a bear
market now we were in like a bull market starting around the big
having of 2016 people who are around before the big point having of 2016
which was the summer of 2016 try to add you to find people who can
remember that you know just when the price was recovering the OGIS of this
world as I said another there’s some other distractions out there and some of
you have some of you have mentioned this to me even today all of the crypto
currency market market has gone down in terms of fiat recently I think you I
hope you’ve all noticed that at least the media only focuses on Bitcoin
because that’s the only one they know and that should be reassuring to you if
you ever think an altcoin is going to surpass Bitcoin if you if you travel
around the world like I do and I do travel around the entire world
some people think how do I get that litecoin version of Bitcoin they think
cryptocurrency is Bitcoin and that other coins are different versions of Bitcoin
be all the other all the other one coins have gone down in terms of fiat also so
don’t think that you know in a bear market like this oh well now is it time
for me to diversify into other all points because they’re surely going to
do better the big way now is the time for me to get into these
icos sure the riskier short 90% of them are scams there’s been a study that said
90% of AI cos they end up nothing you know some of them don’t need to be
scanned but they end up being nothing that’s
that’s crazy yet you can go up to San Francisco any
month and there are still to this very day
Oh sorts of them did they call cryptocurrency conventions but they’re
mostly people trying to sell UI cos it’s unbelievable I mean they’re poor and I
coz I mean it’s it’s a wild wacky world that’s how you lose Bitcoin people that
is how you lose your Bitcoin you’ll get tempted by all these things that you
think all let me make an impulsive move this short term I’m gonna be able to
flip it real quick and get this ICO and turn it back in the Bitcoin it’s not
that simple it’s not that simple the war moves you make the more likely you’re
gonna make a big mistake whether you’re gonna lose it and I know
this it’s not fancy it’s not glamorous but doing nothing with your Bitcoin it’s
the way to win it it’s the way to win it I bought my Bitcoin not very recently
over it over a long period of time and I dunno I just let it sit there and it’s
just it just showed you how amazing this asset class is that even for some of you
have own Bitcoin before August of 2017 you all know that there were Forks of
Bitcoin that there was one called beat ash that came out and you and even if
you don’t like the caching I don’t like it if they try to pretend to be a big
coin all big coin holders got this crypto
dividend that’s like all for free something like that could not have been
predicted in the Year 2015 now just by holding Bitcoin you would
get a cryptocurrency for free that now is worth like $700 I mean as recently as
the only year and a half ago big wasn’t even worth that much so I bring this up
because we don’t know what the future is gonna bring for Bitcoin holders well
what crazy new financial mechanisms are going to evolve from it like this this
forking phenomenon that we’ve uh that we’ve witnessed and that that’s why it
might seem unglamorous to hold your Bitcoin now but you never know you never
know what is going to be born from it that cannot even be predicted now
because these crypto dividends they never could have been I would have never
predicted such a thing back in the day so yeah discipline wins and trading
losses not I don’t know how many of you day trade with Bitcoin it’s your
business you could do again personal responsibilities of new counterculture
but be ready to go take four spot you don’t blame the exchange or oh why was
this announcement made this day and it’s there but no you were the traitor
90% of traders lose it is not an easy thing
do even-toned BAE’s the most famous guy who on YouTube to talk about trading he
does even trade Bitcoin he tells you how to be a good trader but that with
technical analysis but this it’s not for everyone when you’re sending money when
you’re sending Bitcoin back and forth between exchanges you can make mistakes
and I mean I know so many I know of plenty of people who have tried to send
Bitcoin to exchange oh I sent it to a beat cache address instead oh I sent my
theorem to an etherium classic address instead that’s really bad you lose your
cryptocurrency that way that’s another benefit of doing nothing send you know
investing in your friends project you know he might be your friend and
everything but there’s no guarantees in life that he’s gonna be able to double
your money like he says he is with your big point it’s better just to have a
strong hand and hold on to it and you know we have all these other temptations
out there cloud lining have you guys heard about cloud money run away from
that type of thing run away from it seriously that’s a that’s another good
way most of those are scams but most of them slowly they play the game of Mickey
cheat you know giving you in terms of Fiat Mickey scenes that see what you’re
making a Fiat profit but you’re really losing victory again you got a if you’re
in the Bitcoin don’t care about the dollar of a fatality value your wealth
in Bitcoin seriously and if you happen to buy all points by the way don’t be
distracted by like so many people are like coins going up so much yeah in
terms of fiat it has but it’s not at its all-time high in terms of its value in
Bitcoin which means you would have been better just holding on the Bitcoin so
again don’t fall into don’t fall into these these temptations of the all coins
in the icos understand what deferral of gratification means to just you know you
don’t it doesn’t have to be Bitcoin does have to double in value tomorrow put it
off for a while think long term and if you
and if your measure try to figure out how easily distracted you’re okay if you
are seeing the price of Bitcoin like really bothers you a lot singing out try
to avoid it just like get into habits of like not looking at your not looking at
the price of Bitcoin yes I talked about experience mattering pay attention
there’s all these um they’re always gurus out there that are very flashy and
again who make those big predictions and who had been somewhat successful
recently in terms of making good predictions even are they’re pretty new
to the game and they they become these gurus never put these guys on pedestals
okay no one is perfect and if they’re really loud about it they’re really
saying you know I’m the greatest I’m you know look at all these different
predictions I made in the past you might want to avoid these people trying to
search out people who are quiet and knowledgeable and have experience and
maybe they’re just don’t Witter there’s some really great guys on Twitter I
actually did a video about all of the the all stores of crypto once and there
it’s my personal opinion but I’ve been around for a while and I think I’m a
good judge of character in this space and just try to don’t get too carried
away with people that are like yeah 250,000 by the end of this year and I’ve
only been around since the beginning of last year but trust me it’s 250 and then
you want to you want to put them on and then other people are putting them on
pedestals don’t have a Bitcoin guru do not have a Bitcoin guru and do not get
enamored with those high predictions that are these magically high numbers
just try to keep it keep it steady and here are some things I know these are
mistakes that some of you know not to make but a lot of people don’t know me
don’t keep your Bitcoin on exchanges just don’t do it
get a tresor i think that reservoir is i don’t know what it is around now maybe
it’s around $200 it’s well worth it and insurance one time insurance policy for
for $200 i mean that’s pretty good because these exchanges get
shut down all the time to get hacked all the time and I say this from experience
because a lot of you weren’t around in 2016 when what was it big Fitness
compact and now people do people think big Phenix is so trustworthy how could
that even happen well it did happen and there are some exchanges that don’t even
exist anymore that were once really big exchanges so if you are keeping your
Bitcoin or the exchange right now one of the first things you should do when you
get home is just just order a transform just get it over with
and just you know rip off the band-aid whatever that whatever they say that is
a great way to lose your Bitcoin if you have it or third party

10 thoughts on “BitcoinMeister talks Bitcoin and cryptocurrency at the Los Angeles meetup in Century City- Part 1”

  1. Adam, this year is a good year to buy some BTC every week. Yes I've done that in 2015. But also 2016 and 2017. Real savers (those with low time preference) accumulate and win!

  2. Wow what a great talk about cryptocurrencies just basic information especially for us noobs need to know appreciate the encouragement

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