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The morons dumping on Bitcoin right now don’t realize this…

Published February 3, 2026
Joel Bomgar
by Joel Bomgar
YouTube Video Transcript
The morons dumping on Bitcoin right now don't realize that people like them have been wrong 17 solid years. Now, if you're like me, you enjoy the early years of Bitcoin. I love reading the books about the early years of Bitcoin, watching the documentaries about the early years of Bitcoin, and I have read them and I have watched them all. If there was anything that described the very early years when the price was in the, you know, single digits, double digit, triple digits, and even below a dollar, uh, anything that describes the early cipher punk movement, a whole, all of that. And what you realize is that the things people are saying about Bitcoin now are exactly the same things people were saying 17 years ago. So, as you know, I post a lot about Bitcoin on Facebook. And so I post things like, "Hey, I bought, you know, I sold gold and silver to buy Bitcoin at $95,000 Bitcoin." Um, which was when gold was, you know, 4,000 an ounce and silver was $48 an ounce. Uh, which was a couple months ago. I took out a Bitcoin backed loan on Strike, S I ke, which I do not recommend unless you can really, really, really afford it, which I can. Um, and I bought Bitcoin at a price of 82,000. Um, and then of course in the comments there's all these morons who are like five minutes later or you know a day or two later they're like, "Haha, Bitcoin's at $79,000. How's that working out for you?" It's like, "Okay, It's a one-year loan for at $82,000." So, we're not going to resolve this 48 hours after a one-year loan. Like, come back and check with me at the 12-month mark because it's a 12-month loan. Same with when I uh sold the gold and silver. People are like, "Haha, it's not at 95,000 anymore." Again, they don't realize if you go back to the early days of Bitcoin, all the stories were the same. I mean, people were saying, "I just sold all my assets and bought all the Bitcoin I could at $100 of Bitcoin for $50,000, which is what they bought 500 Bitcoin or whatever that is. 50,000, I guess it' be. Yeah, whatever." Um, and then of course somebody is like, "Haha, it's 80,000. You know, it's only $80. You bought it at $100, loser." And it's just insane. Like, I mean, here's the thing. If you're going to run your mouth on Facebook, you ought to get some historical perspective. You ought to ask yourself, hey, has an idiot said the things I'm saying now at some point in the past and been totally wrong. And the answer is yes. I mean, there's all these there's this famous tweet of somebody saying, you know, Bitcoin crashed all the way down to $2.13. So glad I dumped all of mine at $8. It's never coming back. And then again, people post that online and they're like, uh, you know, one one of the ones, uh, someone posted, uh, was the guy that had dumped all of his Bitcoin at $8 and said it was never coming back. And, um, and somebody posted, they tagged him on Twitter and were like, "Hey, is this guy still around?" And he responds, "Yes, but dead inside." Right? I mean, this is the guy who said $8 Bitcoin was Bitcoin is over. It's crashed for the last time. you know, it's down to $2 and something and I'm done. You know, and then there's other people early on that were like, "Haha, you losers who bought Bitcoin for $4, you know, or $2. Now it's below your talk, you know, you're out of your buy price going to zero." Anyway, it's just insane. It's insane that if you're going to run your mouth about something, it seems like you ought to think about it. They all show up on Facebook and they're like, "You buy Bitcoin at 82,000 and then it's down at 77." and they're like, "Haha, how's that working out for you?" Thinking like, "What is that? Is that like the first time someone ever thought to ridicule someone who made a long-term investment that happened to be down a day or two later?" Like, no. That happens all the time. On Monday, I challenge you. Go buy Apple or Amazon or, you know, Microsoft, uh, Nvidia, Tesla, Google, Facebook, any of the magnificent seven stocks, the highest performing stocks of the last decade. buy any of them and then see if the price goes down at some point during that same day below the price you bought it for. Of course, it will. All of these prices are volatile. The price is always going to eventually be low below the price you paid for it. And the reason you can't wait for that lower price is you don't know when it's going to happen and you don't know what it's going to be. So, in my case, I bought more Bitcoin at 82,000 because nobody knows if it's going to go lower than that. They don't know when it's going to go lower than that and they don't know if it's going to go how much lower than that. So if somebody wants to say, "Hey, that was a dumb decision. How's that working out for you?" It's like, "Okay, when would you have bought?" First of all, these people have no money anyway. Like what are they, you know, it's not like they're saying, "Hey, I bought something else instead that's doing better." They're, you know, criticizing the actions of other people without realizing that people like them have been wrong for 17 years. and that any good investor knows that any asset you buy ever will eventually be below the price you paid for it because otherwise you bought it at the exact perfect time at the exact perfect price and that's impossible. Nobody buys everything at the exact perfect time at the exact perfect price. That's impossible. You cannot time the market. That's like the one the number one rule in markets and investing is you can't time the market. You can't you don't know you don't know how low any stock is going to go. You don't know when it's going to go low. You don't know when it's going to be its lowest price. So, you can't measure the timing and you can't measure the price. So, is Bitcoin the lowest it's ever going to be right now at 77,000 or 778,000 per coin? I don't know. You don't know because nobody knows. Nobody knows any of that sort of stuff. So, all you can do is you can buy assets that have huge long-term upside potential. You can buy them at whatever price you buy them at, whatever. And then you can wait a really long time which is called investing when you have patience for a long time. That is how this works. And you know if you invested in an asset that has high long-term upside potential, which I very absolutely positively believe Bitcoin does, then it's just a waiting game. You buy and you wait, and if the price goes down, you buy more. You buy as much as you can and you wait as long as you can. Like that's what investing is. Uh so Bitcoin's on sale. The formula is simple. Buy as much as you can and hold on to it for as long as conceivably possible. The best case place to buy Bitcoin is river. R I Ver river.com. River like you know rivers and streams and lakes. Uh link it to a bank account. You can buy Bitcoin that way. Um the best place to keep and store Bitcoin for the long haul is Bitkey bitke.orld. That's bit kell. I post about it all the time and I post about River all the time. Buy as much Bitcoin as you can, hold on to it for as long as conceivably possible. Straightforward formula. That formula has never been wrong in the entire 17 years of Bitcoin. No one has ever been wrong who just bought as much Bitcoin as they could and sat on it as long as they could. Like, if you did that, you always eventually made way more money in Bitcoin form, which you could then convert into any other kind of money anywhere in the world. It's just not that hard. But all these morons who are commenting on Facebook, well, they'll be proven wrong in the end. I don't care. I mean, I'm just buying more Bitcoin. So, so what? I I know my investment thesis. What are they going to do? What else are they going to buy? There's nothing else they can buy that's a better investment than Bitcoin. So, good luck with that. I don't know what they think they're going to do instead. There's no better investment than Bitcoin. So, whatever it is they think they're doing instead, which is probably nothing, is an inferior option. And I don't do inferior options. I'm making the optimal choices. And right now that's buying Bitcoin.

Disclaimer:

The content provided in this post is for educational purposes only. It should not be considered financial, investment, or trading advice. I am not a licensed financial advisor, and all opinions expressed are my own. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Investing in Bitcoin or any other assets carries risk, and you should never invest more than you can afford to lose.

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