Episode 5

In this episode, we discuss all things Bitcoin:
-what it is and how it came about
-how the U.S. money supply will continue to drive up the price
-the volatility associated with it
-future price predictions
-the importance of self research
and more!

05:30 - Exploring Bitcoin Basics with Jackson Doeden
07:53 - Bitcoin Basics and Supply Limit
12:52 - Bitcoin Investment Rationalization Conversation
26:39 - Bitcoin Security and Investment Strategies
41:23 - Global Impact of Bitcoin Ownership
54:02 - Bitcoin Price Predictions and Analysis

Episode Transcript

Speaker 1 (00:01):
What an amazing place we live in South Dakota.
My mission statement is simpleTo re-energize the true
conservative values in SouthDakota.
You're listening to Toby DodenUnfiltered.
If you're in the market for anew or pre-owned vehicle, check

(00:23):
out the Aberdeen Chrysler Center.
Aberdeen Chrysler Center hasgrown to one of the largest car
dealerships in the Midwest andthey deliver free of charge
within 300 miles.
Call them today or check themout online at
AberdeenChryslercom.
Well, here we are, week five ofToby Doden Unfiltered.

(00:43):
I am your host, toby Doden, andI am very, very happy that you
have joined us again today.
First, I want to thank all ofthe loyal listeners and viewers
that have tuned in the last fourepisodes.
I am very well, I'm surprised,I'm very happy, I'm very
thankful.
The staff's been working hardaround here.
Episode four had over 400,000video views in the state of

(01:07):
South Dakota.
That is a tremendous number fora podcast that literally
started a month ago.
So we are.
I didn't expect it.
To be honest, I'm humbled by it.
You know, sometimes we justtalk about things that we think
are interesting.
We, you know, said from thebeginning this is largely going

(01:30):
to be a South Dakota podcast,but I love talking about
national stuff too, and we'vetalked about national stuff,
we've talked about politics,we've talked sports, like you
name it.
We've talked about it, and eachweek our viewership continues
to get bigger and bigger.
So thank you very much.
I really really do appreciateyou taking time out of your day

(01:51):
to listen to our nonsense, andso today, episode five, is going
to be a little bit differentthan what we've done in the past
.
Here's why Next week and I'mhoping that this thing is
released before Christmas soeverybody can listen to it over
the holiday Next week we aredoing a very, very long and very
detailed interview with KevinJensen, you know, digging into

(02:22):
the information about theproposed new $1 billion maximum
security prison that the stateof South Dakota, specifically
Governor Noem, is trying to pushto be built, and so I
admittedly didn't know as muchabout the prison project as what

(02:42):
I needed to.
So I've taken the past couple ofweeks to educate myself on the
new proposal, on the existingfacility, and having Kevin
Jensen on, who has made a namefor himself around the state the
last several months, talkingout about the prison, it's going

(03:02):
to be a fantastic interview.
You're not going to want tomiss it.
So this week, because we had somuch prep going on for next
week, we decided to shorten thisthing up a little bit, and when
I sat down and started lookingat topics, it became very, very
clear that we needed to talkmore about Bitcoin.
Bitcoin's been around for along time.

(03:23):
Bitcoin Bitcoin's been aroundfor a long time.
I've been buying Bitcoin foryears.
I've been mining Bitcoin foryears, but in the last month or
two, I've had more people reachout to me asking specifically
about Bitcoin than I had in thelast four or five years combined
, I think, with Bitcoin hittingthe $100,000 plateau, which you

(03:48):
know for the Bitcoin purists youknow people that have been into
Bitcoin since the inception orat least very early 2012, 2014,
2016,.
$100,000 Bitcoin was kind oflike that first.
$1,000 Bitcoin was kind of likethat first, like super
significant goal to hit, and soI think when that happened, the

(04:10):
media picked it up, a lot ofinfluential people picked it up
and just the regular common folkall the way.
Here in South Dakota, lots ofpeople are talking about Bitcoin
.
Well, admittedly, I am not notwhat anybody would consider a
Bitcoin expert.
I have spent a fair amount oftime investigating Bitcoin.

(04:34):
I have read everything I couldfind on Bitcoin, and I
understand it quite well.
But if we're going to do like afull segment on Bitcoin, I
wanted to bring somebody on thatknew as much about Bitcoin as
anybody I knew, and so we'regoing to talk to an individual
next who is undoubtedly aBitcoin expert.
Funny is, he doesn't like beingcalled a Bitcoin expert, but

(04:58):
when somebody knows more about asubject than everybody else
that you know, I couldn't thinkof another word.
So we're going to call him aBitcoin expert because that's
exactly what he is.
So, without further ado, I'mgoing to introduce you to our
guest today, and you're notgoing to want to miss this.
We are going to talk about thevery basics of Bitcoin.

(05:19):
We're going to talk about whatBitcoin is.
We're going to talk about thesignificance of Bitcoin and,
most importantly, we're going totalk about the significance of
Bitcoin and, most importantly,we're going to talk about why
and how a beginner can buyBitcoin.
All right, so I'm back.
We're going to introduce ourguest, our guest today.
Some of you probably recognizehim.

(05:39):
Many of you outside of Aberdeenmost likely do not.
This guy I've known for a verylong time.
Approximately how old are you?
28?
28.
Okay, so I've known him 28years because he happens to be
my son.
This is Jackson Doden.
Jackson is the aforementionedBitcoin expert.

(06:06):
A little bit about Jackson, andthen we'll get right into it.
I want to pick his brain.
I think he's going to be ableto make some sense of everything
that is Bitcoin to a lot of thenewbies out there that don't
really have any idea what it is.
So Jackson started gettinginterested in Bitcoin about a
decade ago, give or take, and Iremember when he was in college

(06:28):
calling me, imploring me to buyBitcoin, and I remember the
first time he told me about it Ihad absolutely no idea what
Bitcoin was.
So I literally rememberGoogling it and seeing it and
originally I thought Bitcoin wasan actual coin and I'm like so

(06:53):
is this like a gold coin thatthey you know that they imprint
this B logo on the top, likeliterally and I will guarantee
you with a hundred percentcertainty, jackson, there are
people watching this right.
Guarantee you with 100%certainty, jackson there are
people watching this right nowthat literally think Bitcoin is
a coin.
Because that's what I did.
You know I'm kind of an idiot,but I'm not a super idiot, so I

(07:16):
think it's likely that there's alot of people out there that
thought that and so he used tocall me Dad you got to buy
Bitcoin.
You got to buy Bitcoin Fastforward.
All these years later, hefinally, about four years ago,
talked me into buying Bitcoin.
He then started a Bitcoinmining facility and I bought a
bunch of Bitcoin mining machines.
So we mine Bitcoins.

(07:36):
We're going to talk aboutmining.
So, without further ado,jackson, thank you for being
here today and if you wouldn'tmind, just give us a quick
rundown on kind of how you foundBitcoin and what kind of was
the trigger for you to say, hey,I need to learn more about this
product.

Speaker 2 (07:53):
It's possible that I subconsciously heard about it
before, but the first time Iremember actually hearing about
it and remembering it would havebeen in 2016.
Me and some of my buddies atcollege actually used to gamble
on this website, and to gambleon the website, you had to buy
Bitcoin, send the Bitcoin overto the website to be able to

(08:13):
gamble.
You can't just send dollarsthere.
So that's the first time I kindof ran into it.
Unfortunately, it wasn't untillater actually 2020, kind of my
second touch on it.
The second time I heard aboutit is when I kind of realized,
hey, maybe this thing deserves adeeper look.
Maybe I should see what is thisact, what is Bitcoin, and you

(08:36):
know what I?

Speaker 1 (08:37):
mean yeah, well, that's a great transition,
because the first like actualquestion I wanted to ask you and
this is going to sound verysimplistic, the first actual
question I wanted to ask you andthis is going to sound very
simplistic, but again, I thinklargely, I think most of the
folks that are going to watchthis interview are largely going
to be not only newcomers toBitcoin, but quite literally are

(08:59):
going to be where I was at fiveyears ago, where I knew nothing
about Bitcoin.
So that question is what isBitcoin?

Speaker 2 (09:09):
Well, bitcoin is money.
Obviously, there's a littlemore to it than that.
It's a digital currency orstore of value, or whatever you
want to call it.
You know it's not like dollars,where they're issued by a
government, controlled by agovernment, or a central bank,
where payments are all routedthrough banks and processed

(09:29):
through banks.
What Bitcoin is is a digitalcurrency, digital money, where
it's completely decentralized.
Not a single entity can controlit or issue it or stop you from
using it.
It's completely permissionlessand, basically, it's all run on

(09:52):
what's called the blockchain,which is a fancy word for a
digital ledger Gotcha.

Speaker 1 (09:55):
So I think one of the first things I learned about
Bitcoin that got my attention.
You know, as somebody who hasan investment group, and you
know we invest money intoproperty and businesses and all
kinds of stuff, and when youhave businesses and when you

(10:15):
have an investment group, likewe always have to have X amount
of liquid capital to operate ourbusinesses right.
Ups and downs, ebb and flows ofbusiness.
You know market conditionschange all kinds of things.
So, like as a business owner,like we always have excess cash
sitting around right, but it'snot like we can just go blow it

(10:38):
Like this is for developing,this is for a rainy day, this is
, you know, to pay down highinterest debt.
You debt whatever we're doingwith it.
And so, as a business ownerthat's always looking for the
best place to put your cash oryour liquidity, where it's not
going to depreciate like cashdoes.
I found out that the amount ofBitcoin that can be mined for

(11:05):
all the history of time is 21million Bitcoin, and every four
years, the amount of Bitcointhat can be produced, or mined,
so to speak, gets cut in half.
So can you just talk a littlebit about when that started.
When the last Bitcoin is goingto be mined?

(11:26):
How much of the 21 millionBitcoin are currently mined?

Speaker 2 (11:31):
Well, bitcoin first became known to the world back
in October of 2008, when SatoshiNakamoto the pseudonym for the
person or group of people whocreated it released the Bitcoin
white paper explaining what itis what it's supposed to do
Currently.
I'd have to go look at theexact number, but there's
somewhere between 19.5 millionand 20 million coins that are

(11:54):
already in circulation, out of atotal of 21 million.
That will ever be possible, andthe last Bitcoin that will ever
be mined or created won'tactually happen until around the
year 2140, after we're all gone.

Speaker 1 (12:10):
So, roughly, we're at like 95%.
Yeah, somewhere right in there.
Yeah, of all the Bitcoin thatwill ever be available has
already been mined.
Yes, and because every fouryears, the amount of Bitcoin
that is mined, yes, uh, and thelast, and because of every four
years, the amount of bitcointhat is mined gets cut in half,

(12:30):
yep.
So if you were to just googlethis and say you know how many
bitcoin are being mined per dayright now, and then it would
show you.
You know, all the way through2140.
It literally cuts in half everyfour years, and then by the end
of that hundred, you know allthe way through 2140, it
literally cuts in half everyfour years, and then, by the end
of that hundred, and you know,whatever 16 years from now,
there will be no more supplyadded to Bitcoin.

(12:52):
So, you know, talk a little bitabout you know.
I mean, you know everybodytalks about fiat currency, right
, I mean cash essentially thefederal government of the United
States, and listen, it's notjust the United States
government.
This happens all over the world.
But listen, we live in America,so when we talk about things,
we're gonna talk about thingsthat are happening in our
country the most money that'sever been printed in a five year

(13:17):
period, and when I say printed,I mean created by the federal
government.
Somebody at the Fed canliterally hit a button and can
make billions of dollars justappear on a ledger.
Right.
When I was young and naive and Ithink, well, the federal
government is printing cash Ihad these visions of like

(13:39):
thousands of people, like in asteamy, dark, sweaty basement,
like cutting bills you know upand like no it's, it's all
digital.
In fact, the overwhelmingmajority of American capital is
digital.
It's never been in paper form,right.
So like when people think, well, there's X amount of dollars in

(14:00):
the American economy, almostall that like I think the number
is nearly 90% of all UScurrency is digital money
already right?
Very little is cash, right.
If everybody in Aberdeen ran totheir bank and requested to
empty their balances with cash,the bank wouldn't have the cash

(14:20):
to give it to them.
No, right?
So it's kind of scary when youthink about it.
So when Bitcoin came along,people that had been in business
for a long time, or justregular people that were trying
to save money, that were tryingto get ahead, that were trying
to save for retirement, by thetime you pay your investment
fees and you know the money isdeflating every year, it seemed

(14:42):
almost impossible for theaverage person to get ahead,
right?
So is that one fact, the factthat Bitcoin has a finite supply
and the US dollar has aninfinite supply?
In your opinion, is that thenumber one factor as to why
people should look into Bitcoin.

Speaker 2 (15:04):
I think, if not the biggest, it's right up there
Absolutely.
I mean, like you said, everysingle minute, day, week, year,
insert time frame that goes by,there are more dollars than
there were previously and, likeyou said, there's only ever
going to be a maximum of 21million Bitcoins.
So if you have a dollar supplythat's just continuing to grow

(15:28):
and a Bitcoin supply that'sstaying exactly the same over
time, these incremental dollarscoming into the system are going
to bid to purchase Bitcoin andthat's going to drive the price
up over time.

Speaker 1 (15:42):
Yeah, yeah, for sure.

Speaker 2 (15:43):
Yeah.

Speaker 1 (15:44):
So one of the things that has given me confidence
about owning Bitcoin andinvesting in Bitcoin and mining
Bitcoin the last four plus yearsis you know, clearly it's very,
very volatile.
It's one of the most volatileassets in the world and I think

(16:05):
a lot of time people just likethat's what they focus on, sure,
and so they see the volatilityand they're like I don't want
any part of that, right, and sowhat Bitcoin purists have been
able to do is to get to thatpoint where they're disciplined
enough where they can look atspecific increments and analyze
their return on investment.

(16:26):
So, if you look at Bitcoin atthe end of every year, or at the
end of every two years, or atthe end of every four years, it
has literally outperformed everyinvestment asset in the world
since 2010.
Depending on how you look at it, the annualized returns have
been in excess of 200% onaverage, right?

(16:46):
So, like there are people thatare investing in mutual funds,
real estate, bonds, treasuries,getting 3%, 5%, 8%, 10%, like
was always kind of the standard,like if you can get a 10%
return on your money, right?
So there's a lot of people outthere, jackson, that are getting
5% CDs or 10% in their realestate that are like well, I

(17:08):
don't like the volatility.
Does the volatility reallymatter if, every four years,
your asset went up 200, 400, 600, 800% versus eight or 10%?
I know that sounds reallysimplistic, but is it as simple
as just buy the damn Bitcoin andforget about it and then just
check it every few years?

Speaker 2 (17:29):
Literally, it's that simple.
Yeah, no, just like everything,the mainstream media tries to
throw everything out of you know, out of whack.
The way they'll report on it is, you know, you go back to 2013,
.
The price went from, like youknow, sub $100 all the way up to
$1,200.
And then over the next couple,two, three years after that, it

(17:49):
came back all the way down to$200.
And they reported that itcrashed.
You shouldn't buy it.
And then again in 2017, it wentall the way up to $20,000.
And then it crashed all the waydown to $3,000.
And then again in 2020, all theway up to almost 70,000, all
the way back down to 15.
And here we are over 100,000again today.
But every single time, themedia will have you believe it's

(18:13):
an asset not worth owning, it'sa scam, it's all fake, you
shouldn't buy it.
But what they failed to realizeis that, if you zoom out a
little bit and you look at itover the course of, like you
said, four years, five years orhell, even longer 10 years, 15
years, that's the timeframe youneed to have when investing in

(18:35):
Bitcoin.

Speaker 1 (18:36):
So we're going to put up on the screen here, while
I'm talking about this, aFacebook post that I put on my
Toby Doden for South DakotaFacebook account several days
ago and, as you're looking at iton the screen, I'll read
through this.
It says put fear aside andrationalize Bitcoin.
$1 Bitcoin it'll never hit $10.

(18:57):
And then, when Bitcoin got to$10, everybody what I mean?
Everybody, institutions, people, media it'll never hit $100.
And then it got to $100 andeverybody media it'll never hit
a hundred dollars.
And then it got to a hundreddollars and everybody said it'll
never get to a thousand dollars.
And then it got to a thousanddollars.
Then everybody said it'll neverhit 10 grand.

(19:18):
And then it hit 10 grand andpeople like me said it will
never hit a hundred grand.
And then it hit a hundred grandand people are saying what it's
never going to hit a million.

Speaker 2 (19:24):
It's never going to hit a million.
And then it's going to hit amillion.

Speaker 1 (19:26):
And what are people going to say?
It's never going to hit 10million.
It's never going to hit 10million.
So, like, we got a lot oftraction on that post.
I think right now we have over800 comments and you know, this
was one of the driving factorsas to why I knew we need to talk
about Bitcoin today, because Iprobably had two and a half or

(19:47):
three dozen DMs just on Facebookoff of this one post.
My husband wants to buy Bitcoin.
Can you help him?
My son, my cousin, hey, can youhelp educate us?
And I'm not an investmentadvisor, so I'm never going to
give somebody investment advice.
And so, like, do I own Bitcoin?
Yes, why?
Because I did the research, Ilearned the dynamic principles

(20:11):
of Bitcoin and I liked what Isaw.
It made sense.
And so, as Jackson said, whenyou zoom out to a 10 or 20,000
foot view and you get out of themuck, so to speak, and you stop
listening to your neighbor,who's negative, you stop
listening to the guy that youran into at church, who's super
negative, like, generallyspeaking, human beings are

(20:33):
deathly afraid of change, and soyou have to just take all of
the negativity, all the negativepeople in your life
specifically about Bitcoin, andyou have to stop listening to
them and you have to do your ownresearch right?
So when you and I first reallystarted talking about Bitcoin
and when I first heard aboutMichael Saylor Michael Saylor

(20:55):
and I Michael Saylor, for thoseof you that don't know, is the
most alpha Bitcoin investor onplanet Earth and it's not even
close.
He's the CEO and founder of asoftware company called
MicroStrategy, and we're notgoing to get into detail about
how Michael Saylor has leveragedhis software company into

(21:18):
becoming one of the largestholders of Bitcoin in the
history of planet Earth.
So if you Google Michael Saylor, if you haven't heard of him,
it's absolutely intriguing.
But Michael Saylor and I had anaha moment about the same time.
It was around 2020.
The difference is MichaelSaylor had hundreds of millions
of dollars to buy Bitcoin and Iwas an idiot car salesman.

(21:39):
So I was able to start buyingBitcoin, but not on the scale he
did.
So I was able to start buyingBitcoin, but not on the scale he
did.
But two independent people, asuper, super rich billionaire
and then some guy from Aberdeen,south Dakota, bumped into the
same information Books like theBitcoin Standard.
Michael Saylor said he did1,000 hours of research on

(22:02):
Bitcoin.
Personally, I did probably 100hours over a on Bitcoin.
Personally, I did probably ahundred hours over a three or
four month period and by thetime I got done, I was a hundred
percent sure that not only wasthis asset called Bitcoin going
to continue to increase in valueforever, but it was, in very

(22:26):
short order, going to startpassing the market cap of
commodities like silver, gold,etc.
So right now in the worldthere's a market cap of about
$1.7 trillion in silver.
The market cap on Bitcoin ispushing two trillion, I think
it's actually just over two now,yeah around two.

(22:49):
Yeah, so there's more value ofbitcoin in the entire world than
silver.
Yes, okay, gold, right, gold isthe standard, no pun.

(23:22):
The largest asset managingcompany in the history of planet
Earth.
They have $12 trillion inassets that they manage.
In the last year, blackrock hasbought 540,000 Bitcoins.

(23:43):
540,000 Bitcoins, that's whatNorth of $50 billion worth of
Bitcoin Through their ETF, rightThrough their ETF.
Yeah, that's what they.
I mean, they custody 540,000Bitcoins.
So, like how much?
If there's somebody watching athome today that quite literally

(24:05):
knows nothing about Bitcoinother than it's something you
can buy and it's verycontroversial?
Like, how much time do youthink they would legitimately
have to dedicate to learning thefundamentals of the American
dollar and Bitcoin to becomecomfortable enough to buy this

(24:25):
asset?

Speaker 2 (24:27):
You know that's going to vary by person and you know
what they kind of know beforethey start looking into this.
You know you'll see interviewsof people saying you need 100 to
1,000 hours worth of researchto fully understand it, and you
know they're not wrong to trulyunderstand every little detail
about it.

(24:47):
That's probably about whatyou'd need, but to become
comfortable with the investmentof it, you know, for the average
person you're maybe looking at10 hours, 15 hours, 20 hours
tops worth of time before you'llreally feel comfortable with,
at the very least, the economicsof Bitcoin.

Speaker 1 (25:08):
So Jackson is the general manager of Aberdeen
Chrysler Center.
Thank you for you and yourcompany sponsoring this episode
of the podcast.
I appreciate it.
We never thought we were goingto sell sponsorships, but we

(25:28):
also didn't think we were goingto get 400,000, 500,000 video
views within the first three orfour episodes either.
So our production costs areskyrocketing because you know we
have plans to travel around thestate, you know, and do these
remotely, you know lining upguests and there's just a lot of
expenses.
So we're like well, like, if500,000 views are happening and

(25:54):
listen, that's views, right, ifyou really want to dig into the
analytics, which I'm not goingto do but you know we have like
80 to a hundred thousand peopleengaging, meaning they have,
they have taken an action on asocial media account interacting
with this podcast, and so like,like somebody said, toby, with
those kinds of numbers likethere are, there are, there are

(26:15):
companies out there that wouldline up to advertise in South
Dakota, that have your samebeliefs and your same views on
the world, like they're going towant to advertise on your show.
So I'm like well, if we'regoing to bring the general
manager of one of the largestcar dealerships in the entire
Midwest on this podcast, talkabout Bitcoin.
We can at least fleece you alittle bit for some sponsoring

(26:35):
dollars.
So thank you for doing that.
I appreciate it.
So one thing that people talkabout all the time is fear, fear
, forget about Bitcoin.
Fear is the single largestdriver of human behavior in the
history of mankind.
I'm not a psychiatrist, I'm nota psychologist and I'm not

(26:57):
going to ask you folks at hometo lay on your couch, close your
eyes, but it's a fact.
People don't do things becauseof fear.
Sure, conversely, people dothings because of fear.
Right, I have to do this or I'mgoing to lose my job.
I have to do this or I'm goingto get in trouble.
I have to make my bed or myparents are going to ground me.
Or they don't do things likeI'm not going to invest in

(27:19):
Bitcoin because I can't.
If I lose all my money, mywife's going to leave.
Like everything is done.
Like 90 plus percent of thepeople on planet Earth make most
of their decisions one way orthe other based on fear.
So what would you tell peoplesitting at home today that are
like I got 500 bucks.
I got 1500 bucks.
I have a tax return coming inMarch for $3,800.

(27:40):
And I want to buy Bitcoin but Iam scared to death because I'm
afraid I'm going to lose it.
Like, how secure is Bitcoin?
How?

Speaker 2 (27:50):
secure is Bitcoin.
I feel like that's kind of aloaded question.
The actual Bitcoin networkitself you know exchanges and
you know brokerage accountsaside the actual Bitcoin network
itself is the most securecomputer network on planet Earth
.
There's something like six,seven, eight hundred exahashes

(28:16):
worth of computing power thatare securing the network.
I mean, if Bitcoin were to behacked, then so too will be
nuclear launch codes will alsobe hacked.
Like if Bitcoin gets hacked,there's nothing safe on the
internet or on computers in theentire world.

Speaker 1 (28:37):
That's crazy, and when I dug in, that was one of
my primary questions.
I'm going to put money intosomething I'm not really
comfortable with, and I'm notcomfortable because I haven't
spent enough time learning aboutit yet.
But even after I did learnabout it, one of the first
things I studied was how secureis the blockchain?
Like, how secure is my wallet?
Like, wherever I decide tocustody these Bitcoin, how

(28:57):
secure is it?
So I mean a simple Googlesearch or Grok.
I like to use Grok for research.
It's a little shout out to ElonMusk here.
It's X's, formerly Twitter.
It's their AI platform.
It's called Grok, g-r-o-k, andit's wonderful because not only

(29:18):
does it have all the preset datathat ChatGPT has, but it also
is learning real time from allthe tweets.
When somebody tweets, thattweet can instantaneously show
up in an AI result, right?
Well, I asked artificialintelligence what the odds are

(29:39):
of Bitcoin, a Bitcoin wallet,being hacked, and they gave me a
big, long answer.
I'm just going to give you thislittle abbreviated part.
The odds are similar to youwinning the Powerball nine times
in a row.
That's a stat that was given byMarketWatch in 2018.

(30:01):
That's a stat that was given byMarketWatch in 2018.
So these 500, 800, sometimes abillion dollar Powerball tickets
if you went in every week fornine straight weeks and bought a
random Powerball ticket and wonthe big Powerball nine straight
times in a row, the chances ofthat happening are better than

(30:21):
somebody hacking your Bitcoin,like that's safe.
So, do you have money in asavings account?
Bitcoin is safe.
Do you have, do you own gold inyour basement?
Bitcoin is safer.
Like Bitcoin is as safe as anyother digital asset.
As Jackson said, if they canhack a Bitcoin encryption, they

(30:43):
can hack anything on planetEarth, right.
And so there's a lot of talkabout quantum computing, all
this kind of stuff.
Well, first of all, quantumcomputing is not just going to
just drop in our labs tomorrowwith the type of power to hack
in you know to you know ournational defense system, right?
So there's you know.
Know, like encryption from 50years ago would have gotten

(31:04):
hacked by today's technology,right?
Well, why?
Why weren't you know?
Why weren't people freaking out30, 40, 50 years ago about
stuff getting hacked?
Well, because, over time, theywere able to keep strengthening
and strengthening andstrengthening their firewalls,
right?
So, uh, that that is just onething I did.
Did the research?
Clearly you have.
I know other people that haveand that used to be my number

(31:25):
one concern.
It's not my least concern RightRight Now.
My biggest concern is, you know, waiting for banks to be able
to collateralize Bitcoin sopeople like me can go into my
local bank and can borrowagainst the Bitcoin without

(31:46):
having to sell it.
Because if you buy an assetwhether it's a stock, whether
it's a home, whether it'sBitcoin it goes up in value and
then, when you sell it, ourgreedy federal government wants
to tax us on the profit.
Right, right, if you never sellthe asset, you never have to

(32:06):
pay the capital gain tax.
You can borrow against an asset.
You can borrow against equityin an apartment building and
take the equity out through aloan and never pay capital gains
tax.
You can do the same thing withBitcoin.
Right now.
There's maybe a couple of dozenlenders that I've been able to

(32:27):
find that are willing to doBitcoin as collateral, but
they're not banks.
It's not a federal deal.
It's just some whack job lenderthat's willing to charge a 22%
interest to take a 30%loan-to-value position on your
Bitcoin.
Michael Saylor talked about thisrecently in an interview and

(32:50):
they were talking about what thecurrent price of Bitcoin was
Michael Saylor.
By the way, I keep mentioninghis name.
I hope a lot of you take thetime to if you haven't already
take the time to learn aboutMichael Saylor.
He's clearly probably theworld's foremost experts in

(33:12):
everything Bitcoin, currency,fiat, all that stuff.
So he was doing an interviewrecently and he said that there
were three things that had tohappen for Bitcoin to get to $5
million.
Yes, you heard that.
Right, we hit an all-time hightoday of $108,000,.
Right, we're doing this onTuesday.
So $108,000, we had an all-timehigh today.

(33:33):
Michael Saylor says that we aregoing to hit $5 million per
Bitcoin when these three thingshappen.
So I want to tell you thesethree things, jackson, and I
want to get your thoughts.
Number one spot ETF approval,which we already have.
Yep, that happened earlier in2024.
This interview, I think was in2023.
Number two we need fair valueaccounting rules.

(33:57):
And lastly, what I just talkedabout banks custody and lend
against Bitcoin as collateral.

Speaker 2 (34:05):
Sure.

Speaker 1 (34:07):
Yeah, so like, do you agree with Michael Saylor?
Like, yes, clearly the spot ETFhas been a contributing factor.
To what extent, we don't know,because we were in a bull cycle.
Anyway, let's just take theseone at a time.
So, number two fair valueaccounting rules.

Speaker 2 (34:28):
Like like like, how would that affect the price of
Bitcoin?
Fair value accounting rules aregoing to make corporations, I
would assume are going to makecorporations more willing to own
it.
I would assume are going tomake corporations more willing
to own it before these changes.
If you bought Bitcoin at$10,000 per coin, however many
of them that you bought, they'renow on your books, on your

(34:50):
balance sheet, valued atwhatever you paid for them, and
they don't change.
So if they go way up, you don'tactually get to show that you
profited and stuff like that.

Speaker 1 (35:07):
And vice versa.
If they go down, you don't getto show the loss.
The third one is banks custodyand lend against Bitcoin as
collateral.
To me, this is the mostimportant.
That's a big one, becausethere's a lot of people like
Toby Doden who have boughtBitcoin.
I feel very fortunate because Ihad people like you that helped
push me to the point where Iwanted to learn and I wanted to

(35:27):
understand it.
And then I had the I don't knowwhat the word is.
At the time it seemed a littlecrazy.
A little crazy, but as Ilearned more and more about it,
I just kept essentially takingalmost all of my cash reserves
from all of my companies that Iknew I wasn't going to need

(35:50):
anytime soon, and we justconverted it from cash to
Bitcoin.
So I have a lot of Bitcoin, mycompany's custody of Bitcoin, my
company's custody, a lot ofBitcoin right, and I absolutely
don't want to sell it becauseI'm going to get a massive tax

(36:10):
bill.
So for me, as a developer, assomebody who buys businesses,
buys real estate, if I could goto Dakota Bank, for example, in
Aberdeen, south Dakota, and Icould take out a loan against my
Bitcoin, just like it was a $30million apartment building.

(36:32):
That would be a game changerfor the Doden Investment Group
Because I could take the money Icould borrow against my Bitcoin
assets and I could use thatmoney to do more development in
and around the Aberdeen area.
So is it like do you agree thatthe banks being able to custody
and lend against Bitcoin isgoing to be a massive factor in

(36:56):
Bitcoin absolutely going to themoon?

Speaker 2 (36:58):
Absolutely.
Yeah, Kind of like you said.
I think it would bring morepeople.
If you can borrow against yourBitcoin effectively in a safe
way, that's going to make theasset more.
What's the word I'm looking forthere?

Speaker 1 (37:15):
I got it.
If a highly trusted regionalbank like Dakota Bank is telling
their clients hey, we canborrow against your Bitcoin Like
we believe in this product.
The federal government believesin this product and they're
going to let us borrow againstit Like that's going to take the

(37:38):
average citizen.
You and I could do 1,000podcasts in a row and the people
that aren't going to listen tous as soon as their bank says
it's a good idea or that theycan do it, the retail buyer is
going to fall in line, in myopinion, just like a CD.

Speaker 2 (37:53):
Yeah.

Speaker 1 (37:54):
You know what I mean.
Like, well, you can buy a CDand get 4%, or you can buy
Bitcoin.
Well, let's put 20% into theBitcoin.
Let's put 80% in the CD.

Speaker 2 (38:01):
Like that's, put 20% into the Bitcoin, let's put 80%
in the CD, that's going tohappen.
The main reason that being ableto lend against your Bitcoin or
borrow against your Bitcoin isgoing to be bullish for price is
because now, if you want to useyour Bitcoin to develop or do
with it, whatever, you're goingto do or buy more Bitcoin.

Speaker 1 (38:17):
Yeah, yeah, technically, I suppose, If you
have $10 million in Bitcoin andthe bank will borrow you 60
percent value and you can affordthe juice.
Yeah, take that six milliondollars.
Go buy more like a bitcoin dothat too.
That's what michael saylor'sdoing essentially not the same,
but kind of yeah, but it's,we're gonna reduce sell pressure
.

Speaker 2 (38:34):
if people don't have to sell their bitcoin to go,
they're never gonna sell it yeah.

Speaker 1 (38:41):
So another thing I find fascinating, and I think
you folks at home are going tofind this very interesting.
We're going to put this slideup.
It's probably up already.
Basically, this is thebreakdown of who owns all of the
Bitcoin in the world, right?
So number one individuals own57% of all of the Bitcoin in the

(39:03):
world.
Okay, We'll get back to thatnumber.
17.6% is estimated to be lost.
Well, the people that don't,that really haven't dug into
Bitcoin, aren't going tounderstand that number.
Here's why such a hugepercentage has been lost.
When Bitcoin first started, itwas literally trading for like

(39:23):
fractions of pennies, right?
And then it hit a penny, andthen it hit a dime, and then it
hit a dollar.
But lots of people boughtBitcoin when it was a fraction
of a cent or one penny or twopennies, and they bought maybe a
dollar's worth.
So they got 100 Bitcoin for onepenny, right?
Can you imagine having 100Bitcoin today?
That'd be nice.

(39:44):
So somebody takes a dollar in2010, buys 100 Bitcoins for a
penny each puts it on a walletsomewhere or writes their
security key down somewhere, andbecause he only paid a dollar,
he didn't give a shit, right?

(40:06):
They just forgot.
It's like buying a pack of gumand setting it on the counter at
your buddy's house.
You get home, you're not goingback to get the gum, so like
they moved or they lost it orwhatever Like.
So that's how 18% of theBitcoin has been lost.
We're talking several millioncoins are gone.
So when we talk about 21million, bitcoin is the finite

(40:28):
supply that can ever be mined.
It's actually more likeprobably 17 or 18 million actual
Bitcoin, because the rest arelost forever.
They are unretrieved, right?
So 6.6%, as you can see thereon the screen, has not been
mined yet.
This is what we alluded toearlier.
The last coin will be minedaround the year 2140.

(40:52):
5.2% Jack mentioned thisearlier.
Satoshi Nakamoto when hecreated this, he kept around 5.2
percent.
Um, that that's also worthnoting, right?
This is interesting.
Those 5.2 percent of uh coins,which I guess would be about a

(41:13):
million coins, right, around amillion yep has never moved,
then not it has never.
Since 2008, it has never movedfrom the original wallet.
So whoever this Satoshi personis, or if it was a small group
of people, they were stewards ofsociety.

(41:36):
Basically, yeah, because theybuilt the perfect money.
They built the perfect money,asset class Kept a million of
them for themselves, which todayis worth, if I'm doing my math
right, like $100 billion.
They've never sold one of themNot a one Nope, in 16 years.

(41:58):
Whatever person or whateversmall group of people created
Bitcoin, they have never movedtheir Bitcoin.
So 5% is owned by whoevercreated this life-changing
masterpiece.
3.6% 3.9%, excuse me is ownedby ETFs.
Etfs just launched in Januaryof 2024 is when they first

(42:21):
became legal and, you know, 3.9%doesn't seem like a big number,
but 3.9%, considering they haveaccumulated that in less than a
year, is crazy.
Companies, just randomcompanies Aberdeen Chrysler,
microstrategy, abc, whateverjust companies own 3.6%.

(42:46):
Minors own 3.4% and governments, including the US government,
own 2.7%.
I find it funny that all thewhile, the well, it's not the
entire government Donald Trumpand his administration have seen

(43:08):
the light, so to speak, andthey have become pro-Bitcoin in
recent months and years.
The Democrat Party hatesBitcoin and I think largely
we're not getting into politics.
I'm just telling you the factsbitcoin and I think largely
we're not getting into politics.
I'm just telling you the facts.
Democrats have are very overtlytrying to crush bitcoin, and
they have for a very long time.

(43:28):
It's not a secret like they'vecome out very public against
bitcoin and it's because theydon't want to lose control, like
when, when people like you andme can buy a decentralized asset
that the US federal governmentcannot control.
Every little bit of control wetake, they lose.

(43:49):
Yeah, and it's absolutelydriving the nuts.
The US government owns a couplehundred thousand Bitcoin.
They're not buying it as aninvestment.
You know, these are fromseizures and all this kind of
stuff.
Yeah, yep.
But there's, a lot of chatterout there and from very credible
sources, that President DonaldTrump, very, very shortly after

(44:16):
being inaugurated in January, isgoing to start taking federal
funds and buying large chunks ofBitcoin.
So much.
Like you know, if you have ateam a basketball team or a
sales team and you have like oneclear-cut leader, when that

(44:38):
leader does something, everybodykind of follows the United
States, is that leader for theworld, right?
So this isn't a fact-basedquestion or answer.
I just want your opinionbecause I think it's very
intriguing.
When the United Statesgovernment comes out in 2025,
assuming this happens, and Ithink it's going to and they

(45:02):
announced that they are going tostart using Bitcoin as a
national strategic reserve, muchlike gold used to be up until
about 1971.
There is going to be a massivefollow the leader from all these
countries around the world.

(45:23):
Because if the world's biggestsuperpower, the greatest economy
in the history of the planet,starts buying massive amounts of
Bitcoin, right, not only is theprice going to start to run
hard, but as that price startsto run, the longer other
countries wait to buy theBitcoin, the more it cements

(45:45):
their demise.
Because, fast forward, 20, 30,40 years, if the United States
government holds 2 millionBitcoin and it could happen like
the United States has enoughmoney to own 2 million Bitcoin.
The United States governmentright now could go buy every
single Bitcoin that's availablein the entire world.
They could.
Price would go to the moon, butguess what?
They would own it and thatprice would stay high.

(46:06):
Right, like that could happen,right?
So just imagine if you are noteven a third world country,
you're China, right, europe, andyou see the United States
government like just hammeringdown, acquiring Bitcoin.
And then you look at futureprojections 20, 30, 40 years.

(46:27):
The Bitcoin they buy todaycould literally be worth $100
trillion in 20 years or 30 years.
If that happens and these othercountries don't buy Bitcoin too
, it is going to cement theUnited States as the supreme
leader of this planet until thegood Lord decides otherwise.
So do you agree with my opinionthat once the United States

(46:52):
announces that they are going tostart acquiring Bitcoin as a
strategic reserve, that it isgoing to cause countries all
over the world to panic and buy?

Speaker 2 (47:01):
Of course, absolutely .
I mean, like you said, they'rekind of the ringleader, so they
start buying.
Not only are they just massiveon the bid, they're buying large
quantities.
Of course that's going to makethe price go up.
But, they're also completelycementing in every country's
mind, every country's leader'smind, that this is now a
legitimate asset to buy and own.

(47:21):
So of course you kind of get alittle bit of a global game
theory that starts to play out.

Speaker 1 (47:27):
We're about done here .
But one thing that peopleabsolutely have to hear if
you're at home right now andyou're listening to this and
you're like, okay, this Bitcointhing sounds great, I want you
to know two things, and then I'mgoing to get Jackson's opinion
on this.
Number one, and this is whateverybody says I'm too late.

(47:50):
I'm too late.
I missed the boat.
Right, if I had a dollar forevery time, somebody told me
that in the last six months, Iwould be retired.
It's too late.
It's 100,000, toby, it's toolate, I'm not buying it.
Well, first of all, the besttime to buy Bitcoin is right now
, six months from now.

(48:12):
If you ask me the best time tobuy Bitcoin, you know what my
answer is going to be Right now,I personally will buy Bitcoin
at the top price until the day Idie, right?
So, like, that's one misnomerthat I want people to know.
Like it's never too late to buyBitcoin.
The price is going toconsistently go up.

(48:34):
But number two, and mostimportantly, I am going to list
off some individuals, somecompanies and some investment
companies that are not onlypro-Bitcoin are buying Bitcoin
and have massive pricepredictions for what Bitcoin is

(48:55):
going to hit in price in thenext 5, 10, 15, and 20 years.
So here's just a few peoplethat not only own Bitcoin, but
they promote Bitcoin and they'veowned Bitcoin for a long time.
Michael Saylor we talked abouthim.
Jack Dorsey of course, he wasthe gentleman that founded

(49:16):
Twitter, eventually sold it toElon Musk.
Speaking of Elon Musk, elonMusk is, by anybody's standard
unless you're a hater he is themost successful entrepreneur in
the world in several generations, if not in the history of

(49:39):
Planet Earth.
I mean when he starts a companySpaceX, tesla, paypal,
everything.
He is a legendary investor and,by anybody's standard, he is
one of the highest IQ, highestintelligent people in the
history of the planet.
Elon's been buying Bitcoin foryears.

(50:01):
Okay, what Elon Musk?
And there's a lot of peoplelike him.
They're buying Bitcoin Likeit's.
It's like the worst kept dirtysecret amongst the social elites
.
They're all buying Bitcoin.

(50:22):
Some of them admit it, some ofthem don't, but they're all
buying bitcoin.
So who are some of thecompanies that own bitcoin?
Tesla, of course.
That's elon musk's company.
Uh, you know blackrock.
We talked about blackrock.
Blackrock is not a fringecompany, you guys.
Blackrock is the largest assetmanagement company in the world

(50:44):
$12 trillion.
They are one of the mostbullish companies in the world
on Bitcoin.
So BlackRock is the biggestcompany in the world.
Blackrock has the smartestpeople in the world working for
them.
Like the smartest.
Like if we want to hiresomebody, like, we have like a

(51:07):
salary range that we can affordfor each position.
You know what BlackRock does.
Blackrock finds the smartestpeople for each aspect of their
business.
They call them and then theygive them a blank, blank
contract and they let the peoplefill it out.
Like not literally, but you getthe point that if they want you
, they will pay any amount ofmoney for you to come work for
them.
So BlackRock has the smartestpeople on planet earth that have

(51:31):
every algorithm, every piece ofdata that people like you and I
will never have access to.
Right, they're buying Bitcoin.
Okay, arc, you've heard of artkathy wood.
She's one of the most famousinvestors of the last 20 years.
Kathy wood, like, like mostinvestors, know who kathy wood

(51:51):
is.
They know who her and her, hercompany, art that they know who.
They are Massive, massiveproponents of Bitcoin.
They hold massive amounts ofBitcoin.
Vaneck is one of the largestinvestment firms in the world,
they own Bitcoin.
Fidelity Fidelity, that's like.
I mean fidelity to investing islike Coca-Cola to soft drinks.

(52:13):
Right, fidelity holds Bitcoin.
Like it's absolutely insane.
So what about countries?
Right, the United States ownsBitcoin.
China owns Bitcoin.
Like, like, you can look it up,there are countries all over
the world that own Bitcoin.
So, the super rich billionairesown Bitcoin.
The biggest, most successfulcompanies in the world many of

(52:35):
them hold Bitcoin.
The biggest, most successfulcompanies in the world many of
them hold Bitcoin.
Governments all over the worldhold Bitcoin.
Yet everyday people who arestruggling to get by are scared
to buy it.
Why?
Because I think the system hasprogrammed regular people to
scare the bejesus out of them.

(52:57):
Because they don't want you andme buying Bitcoin.
No, because they want to ownall of it.
Right, the globalists in thisworld that want complete control
of the world, like, they want aunified world.
They don't want countries, theydon't want individual
governments, they want a globalstructure of management, so to

(53:19):
speak.
So this fear-mongering thatyou're getting from the left,
the fear-mongering you'regetting from mainstream media,
like a lot of that iscoordinated, in my opinion,
because they don't want thepeople watching this interview
Jackson.
They don't want them buyingBitcoin, because every fraction
of a Bitcoin that somebody inSouth Dakota buys is less than

(53:41):
BlackRock gets, it's less thanTesla gets, it's less than the
US government gets.
Right, because it's a finitesupply.
Absolutely Right, yep.
What do you have to say aboutthat?

Speaker 2 (53:50):
I think that's exactly right.
I mean, you know, theglobalists, as you would say,
are stuck between how do we killthis thing and how do we buy it
all.
I think they're starting torealize they can't do either.

Speaker 1 (54:02):
So the last thing we're going to talk about today
and thank you for being here, bythe way, I know you're busy and
again, thank you, aberdeenChrysler Center for sponsoring
this episode.
I know you're not in theprediction business.
I asked you earlier like, hey,do you have a prediction for
Bitcoin?

(54:22):
And you know, jackson's kind ofa Bitcoin weirdo, so like he's
like I'm not giving predictionsand I get it.
He's a Bitcoin purist, so he'snot focused on the price.
He knows it's going up forever,so it is what it is.
But when you're taking moneyfrom investors, they want to
know your opinion, right?
So when you start talking aboutBlackRock, you start talking

(54:43):
about ARK Investments.
So you're talking about MichaelSaylor, kathy Woods, Tim Draper
, max Keiser, tom Lee, like allthese people that are out there
that are either managingpeople's portfolios or are
trying to convince companies totake their cash from their um,
from their companies.
You know, you know and put theminto a, a, a better asset like

(55:06):
Bitcoin.
Like they, they have to givesome kind of a price projection
in order to, in order for peopleto listen, right.
And so Michael Saylor, who isthe godfather of bitcoin, and
there's people that would thatwould be angry for me for saying
that because he didn't inventbitcoin.
He's not satoshi and, you know,nobody has more respect for the

(55:26):
satoshi than michael saylor.
Like, if you've ever heardmichael saylor talk about
satoshi, whoever he is or she is, or whatever group they is, he
has great reverence for them.
And what they did, you know,you know and again I think you
mentioned this all happenedaround 2008, 2009,.
When the global markets, justthe whole, the whole world

(55:48):
economy tanked and these, thisgroup of people or this
individual, you know, said wehave to have a better monetary
future than what we're doing,right?
You know, said we have to havea better monetary future than
what we're doing, right?
So, but in today's terms,michael Saylor is the Bitcoin
guy.
Michael Saylor says in the year2045, that's 21 years.

(56:09):
Okay, when you're 50 years old,like I am, 21 years doesn't
sound that exciting.
That just means I'm going to bein my seventies, right?
But for people like you thatare 28 years old, you're going
to be 49 years old, you're goingto be younger than me.
When Michael Saylor saysBitcoin is going to be worth $13
million per coin, how does thatmake you feel?

(56:38):
Yeah, I guess we many Bitcoinstimes 13 million.
When I'm 49 years old, I couldhave this many tens of millions
of dollars in Bitcoin.
Do you ever allow yourself tothink that way?

Speaker 2 (56:51):
I mean it'll cross your mind, but the goal is to
never sell any because, like yousaid, it's going to go up
forever.

Speaker 1 (57:00):
Yeah, absolutely so.
He says $13 million by 2025.
Kathy Wood has said this athousand times from ARK
Investment that it's going tohit a million dollars before
2030 or by the end of 2030.

(57:21):
Max Keiser says it's going tohit a million dollars in the
next half a dozen years or so.
And you can just go through allthese different companies,
whether it's Fidelity, whetherit's VanEck, whether it's
BlackRock all of their analystshave done the media tour and
they have predicted anywherefrom 120 to 300,000 Bitcoin in
2025.

(57:41):
Oh yeah, right, and then we kindof hit this bull market and
then we have the halving againin what Roughly three 2028.
2028.
Yeah, and then.
So then they kind of give theirprediction for that next
halving bull cycle and that'swhere you're seeing like
$500,000 to a million dollarcoin.
So I'm going to put you on thespot here a little bit, because

(58:03):
this is what people want to know.
So what is Bitcoin, accordingto Jackson Doden, going to hit
for its peak price in 2025?

Speaker 2 (58:14):
I'll throw out a number just to play along, but
I'm sure it'll be way off.
I think that there's a prettyhigh percent chance you'll see
at least $150,000 per coin nextyear.

Speaker 1 (58:27):
There you heard it Could be way higher, but we'll
see.
According to Jackson Doden'sopinion, you can buy Bitcoin
today at the low, low price ofabout $107,000 a coin and at
some point this year that willappreciate to around $150,000 a
coin.
We'll see what happens.
I think largely.

(58:49):
Again, this is getting into theweeds a little bit, but every
four years we talk about thehalving.
There's a bull cycle and thenthere's the bear cycle and then
there's the halving, and so ifyou look at people that have
been charting Bitcoin since thebeginning, the price has been

(59:12):
very, very predictable Inhindsight.
Yes, in hindsight.
Yeah, predictable in hindsight,yes, in hindsight.
Yeah, as as you look you cansee the data would indicate at
certain points in each four-yearcycle, you can kind of predict
when it's going to run, whenit's going to level off, when
it's going to dip, when it'sgoing to bounce back.
So if the federal government,for example, the us federal, if

(59:37):
Trump comes out in 2025 and sayswe are indeed going to start
accumulating large amounts ofBitcoin as a strategic reserve
for the United States government, that wasn't built into these
models, no, like, that's anexternal accelerant that could

(59:59):
potentially throw off all thesepredictive models, so like, and
I think that's why we're seeingsome people suggest that we
could see $300,000 Bitcoin,because they're taken into
certain factors, like the USgovernment, like other countries
, like, so like.
If none of that happens, youstill think Bitcoin hits
$150,000 this cycle?

(01:00:20):
Yeah, absolutely, well, there,you heard it.
So listen, that was a lot ofinformation.
Had I been listening to thisconversation four or five years
ago, I probably would have beenon top of the building at the
Doden Investment Center, youknow, pulling my hair out

(01:00:41):
because I wouldn't haveunderstood any of it, and so if
we talked about some things thatwere confusing, I apologize.
Bitcoin is a very, very nuanced,very detailed subject, and my
recommendations and I'm going tolet you, uh, have the last word
my, my recommendation would bethis would be to put all of your

(01:01:03):
pride aside.
Take everything you think youknow about money, about our fiat
system, about how the unitedstates abandoned the gold
standard 50 plus years ago,about everything the media has
told you, everything your familyat thanksgiving told you, all
the naysayers.
Put all of it aside and justtake your own self, jump in,

(01:01:29):
spend 10 minutes a day, 20minutes a day, an hour on sunday
, whatever.
Just take a month or two months, however long you need and just
consume every piece ofinformation you can get and then
make your own decision right,absolutely.
If somebody just showed up todayand said Toby, I've got this
real estate portfolio, it's awinner.
I need $3 million and you canown half of it, I'd be like I'm

(01:01:52):
going to need more information.
I like real estate, but I'm notgoing to just blindly invest in
something.
It's my money.
I worked hard for it, right.
So I'm not asking people justto go buy Bitcoin because I said
to or because you said to oranybody else did, but,
conversely, you shouldn't notbuy it because people are
telling you not to.
You should do your own research.
I want to hear what you have tosay about that.

Speaker 2 (01:02:25):
Oh, I think that's very accurate.
I mean, I think what's supertough when it comes to Bitcoin
and the reason that the worldjust absolutely has no idea what
it is is there's never beenanything like it.
There's nothing to compare itto.
You can't use analogies to getpeople to grasp the concept.
Really just have to take itupon yourself, to take.
You know, take five hours, 10hours, 15, 20 hours, whatever it
takes to actually research whatthis is and come to your own

(01:02:46):
conclusion.
But there's just no easyshortcut, unfortunately, so just
kind of got to learn about itand make your decision.
Yeah, absolutely.

Speaker 1 (01:02:52):
Well, thank you very much again for being here.
I appreciate it.
I think a lot of our viewersare going to appreciate some of
the information and some of thethoughts you had on it.
Just a reminder next week weare going to do what I think is
going to be our largest episodeyet.
The state of South Dakota,specifically the governor's

(01:03:16):
office, wants to build a brandnew likely a $1 billion plus
maximum security prison outsideof Sioux Falls.
There's a lot of pushback onthat and Kevin Jensen, who
serves in the legislature inSouth Dakota great guy he has

(01:03:41):
dug into this topic.
He has learned everything thereis to know about not only the
new prison proposal but whatoptions there are to renovate
and upgrade the existing prisonin its current location, and we
are going to have him on nextweek.
We are going to dig very, verydeep.

(01:04:02):
We are going to be veryspecific.
We are going to bring the goodfolks of South Dakota every
piece of information they needabout the new prison proposal so
that they can make up their ownindependent minds and decide
ultimately what they're going tosupport.
So thank you again.
I appreciate it.
Episode five is concluded.

(01:04:23):
We appreciate you again.
We thank you very much forlistening this week and we
cannot wait to bring you KevinJensen and the prison proposal
episode next week.
Thank you for listening to TobyDoden unfiltered.