KRYPTOWALUTOWE Q&A POŁUDNIOWA AFRYKA Transcript, AI Summary & Key Points

00:03 Hello everyone, Filonieczny here. Welcome back to another Q&A where I'll be answering your questions. There are so, so many questions. I’ve collected quite a few, and I thought that in this episode I’ll try to answer as quickly and concisely as possible to get through as many as I can. Uh, right now I’m actually in South Africa for some fishing and hunting.

00:28 I’ll tell you a little bit more about that later. It’s 5:00 AM right now, and we’re heading out to fish in Port Elizabeth. It’s difficult to record here at all because I can’t film in the same way I did in Norway, where I’d just walk around and talk, because here there’s a risk that something might eat, bite, or sting me. So, I think I’ll record in various locations and then piece it together.

01:02 Uh, piece this video into one whole. Standard disclaimer before we start: please remember that everything you hear in today’s video is just my own private opinion and is not investment advice. So let’s begin. We are now near Port Elizabeth in the far south of South Africa. And, well, we’ve come here to catch sharks from the beach. We’ll see how it goes in practice, whether the sharks show up or not.

01:36 Well then, let’s start the Q&A. For those of you interested in traveling to South Africa, I decided to come here because I feel like this is the last chance to visit the country. It is becoming an increasingly dangerous country. Crime is rising very sharply. I think that it’s now or never. In a nutshell the recent history of this country, these past few years, have caused this once very wealthy country to start collapsing.

02:21 Much like communist countries collapse, or countries that implement socialism. The situation here is, or was before, difficult to resolve in any other way, and I’m going to be very, very simplifying and shortening the history of this country now. The point is that there used to be racial segregation here. Black people couldn't attend the same schools as white people, couldn't use the same hospitals, and couldn't go to the same shops.

03:00 Even now, as we’re on the beach, it used to be that there were separate beaches for Black people and separate beaches for white people. And because that was the case, the whole world started imposing sanctions on South Africa to, let’s say, abolish this racial segregation, to force the white people who, well, essentially arrived here in South Africa several generations ago from Europe, to force them to, well, give more rights, let’s put it that way, to the original inhabitants.

03:41 And a quite interesting thing happened, because the moment Black people were given the right to vote, and since there are more of them than White people, it turned out they started voting for their own parties and those parties did exactly the same. Exactly the same, just in the opposite direction. Yeah, and today you can safely say that there is racism in South Africa, but in the opposite direction, where it’s the white person who is being discriminated against.

04:17 Yeah, of course, there was a huge increase in social welfare. Of course, they started discriminating against white people. It gets to the point where if a white person argues with a Black person, it’s the white person’s fault. If a white person gets into a fight with a Black person, it’s the white person’s fault. Yeah , it also reaches situations where if a white person and a Black person apply for a job, the Black person must get the job, and that is the law.

04:48 Now, I would partially understand that type of law. If, for example, it were about foreigners, it’s obvious that a citizen of that country gets the job first, and if there’s a vacancy left, then a foreigner can get that job. I am able to understand something like that. It seems to me that it won’t always work perfectly, but I am able to understand that reasoning, that logic.

05:20 However, here, it’s not even about foreigners, but about a specific skin color. And for example, we can have a situation where we were born in South Africa, our parents were born in South Africa, our grandparents were born in South Africa, and even our great-grandparents were born in South Africa. But since we are white, the Black person gets the job first.

05:40 So the economy started to limp a little because of this. People started to put in less effort. Uhh, then another racist law was introduced, namely, if a white person develops a company to a certain level. I don’t know that level exactly, I don’t know what the financial threshold is, but if they develop it a bit better than average, he is obligated to give a percentage of his company to Black people.

06:11 I don’t know exactly what that percentage is, you can probably Google it. It looks like, in theory, he is forced to sell his company, some shares of it. However , in practice, as I’ve spoken with people here, it looks like they don’t have the money to buy the company, and the law says a Black person must have a certain percentage of shares, so in the end, in most cases, it looks like the company is given away for free (those shares, because otherwise it couldn’t function) or it is sold for pennies.

06:51 Well, on the other hand, Black people know that the law works in such a way that the company owner is simply obligated to make this percentage split . Sort of like in Thailand, with buying real estate, where a Thai person must own 51%of the property at the time of purchase. In the case of companies here , it looks like this: if we grow our company too much, we automatically have to give a certain percentage to Black people.

07:16 I don’t know if you know, but most people think Elon Musk is American . Elon Musk is actually from South Africa. He is a man who was born and raised in South Africa, and he moved to the United States in his younger years, say, during his late school days. But he is a man born and raised in South Africa. And an interesting fact is that South Africa does not have Starlink.

07:48 Even though Elon Musk comes from South Africa. And why is there no Starlink? Because Elon Musk said he would not share his shares with any Black person, because he would have to set up a company here, introduce Starlink, and due to the revenue, he would have to give a part of that company to Black people here. So he is protesting in this way as well.

08:11 And for this very reason, for example, South Africa does not have Starlink, and it doesn't have many other companies that did not want to participate in this, so to speak, racist undertaking. It is quite interesting that people who were discriminated against, as soon as they came to power, did exactly the same thing. Something like the Jews, who for a long, long time rode the topic of, let's say, the camps.

08:38 And today we see what they are doing to other people. Exactly the same thing. And in my opinion at least, by completely taking away from themselves the ability to use the argument that, oh, someone did something to them decades ago, so they are the victims, yet they can do it today. That is complete nonsense. So, exactly. And now it has reached the point in this country where some white people started leaving, because they didn't want to participate in this.

09:16 Some became demotivated, because they didn't want to grow companies only to then give some part of those companies to other people who didn't deserve it. The government is also a separate issue . The current government really cares about keeping people poor and uneducated, because they are very easy to control. Actually, just like with other governments and countries, they also care about people not being too educated and not being too smart, and not being too rich, because they will get stupid ideas in their heads.

09:48 But when they are worried about having money for rent and making ends meet, it will look completely different. Uh, and because of that, the education system began to collapse. There are situations where, in public schools in South Africa, teachers can show up to school drunk, under the influence of other substances, or not at all. Healthcare has collapsed.

10:14 If someone wants an education, they have to do it privately . If someone wants medical treatment, they have to go private. The country once had a very good military, the army has also collapsed, and the current government, instead of repairing roads, instead of spending money on education or healthcare, is busy changing city names to ones that sound more African, which generates huge costs.

10:43 You have to replace all the maps, road signs, official documents, and so on, and they busy themselves with the fact that some city was named one thing, and now it will be named in an African way. So that is the story. Well, for the reason that the country has started to collapse. Once one of the wealthier countries in the world, and the wealthiest in Africa.

11:12 Crime has risen, and significantly—thefts, murders— people are fleeing, to the point that white people from South Africa can leave for the United States as refugees because they are simply being discriminated against here. That is why I also think that this is one of the last moments to visit this country. I suspect that in my case, this will be the last time I am here.

11:41 At the same time, please keep in mind that I have told this story in a very brief simplification. Yes, because there are many other issues here that could be raised, as well as counterarguments. Like, for instance, how we want to look at the world, right? Whether we will look at the world through a financial lens, or, for example, a national one. Yes.

12:08 And now, someone who looks at the world through a financial lens will say : "A stupid decision." Yes. The country is poorer, and these black people, even though they can vote now and go to any beach they want, they are poorer, right ? And they use intoxicating substances, they are alcoholics, they don't get educated, they suffer because they don't have healthcare.

12:37 But they can vote every few years. Well, it is stupid from that perspective, right? The country is simply collapsing. But on the other hand, someone could look at it from a national perspective, right? And say: "Well, but this was their country, right? It was the white man who came here uninvited. It was the white man who occupied this territory. It is their country, and if they want to collapse, then let them collapse.

13:00 If they want to mismanage that country, let them govern, because it is their territory and their country. and I am also able to understand, uh, such a point of view. Uh, however, uh, this point of view is often used by people who at the same time say that Black people can, in fact, be in Europe, which here, uh, well, it doesn't add up . Yes, it doesn't add up because there are double standards here.

13:27 White people are supposed to get the hell out of Africa, but Black people can stay in Europe. Well, it's either one way or the other. Well, in that case, okay, let everyone return to their own. let all Black people leave Europe and all white people leave Africa, instead of us playing it this way here and that way there, and people are often not consistent.

13:45 Anyway, as for the intro, well, I have generally told the story of recent years in a very, very brief simplification. There are many other issues I could bring up, but that is not what this video is about. Alright, because the guides are setting up our fishing rods for those sharks. I don't know how the fishing will look with waves like these. So maybe in the meantime, I'll just go for a walk, get some steps in like last time, and we'll do a Q&A in this format.

14:18 You also ask me very often about these trips of mine . This is also an issue I wrote down that I need to address. that, that, that I travel often and who I travel with and so on. Well, this is one of my next trips with a group of independent investors, with that group that I lead. We go on long trips several times a year, short ones several times a year, and we meet up in Poland several times, but besides that, hobby groups have formed, like hunting, fishing, ATVs, jet skis, so, well, there are really a lot of these

15:02 trips. You also ask me sometimes how to get into this group, so I have to tell you that we are not taking sign-ups at the moment. uh, you could say the group is closed. Uh, maybe there are even too many people in it, because there are over 130 entrepreneurs, businessmen, and investors. So, in general, we are no longer doing any official recruitment, as was the case before.

15:27 we are counting more on someone dropping out so that we can accept someone in their place, only for some reason these people don't want to drop out of the group. I also hoped that maybe after this bull market, some people would leave who were counting solely on the aspect related to the crypto market, but they didn't leave either, so the group is getting stronger.

15:51 The friendships are also becoming more and more cool. However, if you are truly an interesting person who could contribute something, you can write to us. I will leave a link under this video in the description box to the person who handles these recruitments. However, it certainly won’t look like you would be accepted right away, just to be clear from the start.

16:22 If someone drops out, we will keep you in mind, and then someone might get in touch with you, but you can leave your calling card, so to speak, saying who you are. what you do, how you can help, and what you’re great at. And the truth is that we are looking for various people, and often one might be surprised that, for example, we accepted a personal trainer instead of a huge property developer.

16:58 We didn't accept the developer because we already have several in the group, while we might take on a personal trainer because the guys want to look after their health. Yes, or maybe we'll take on a priest, or a police officer, or a judge, or a prosecutor for obvious reasons as well. So, I will leave the link. However, it's not like there will be immediate acceptance or recruitment, but if you want to make yourselves known so we can keep you in mind, that opportunity will be there.

17:27 All right. So, the first question is from Bartosz. Bartosz, please expand on the topic of future pensions. I’m 45 years old, and in 20 years I’ll reach retirement age. What should I invest in so I don’t end up in poverty? I have already spoken about pensions themselves several times. I mentioned how the social security system works, that it is just a Ponzi scheme, and that those pensions will be starvation-level.

17:56 I think even in the last interview with a journalist, for some reason, a large part of the people don't take it to heart. A large part of people think that it will somehow work out, somehow it will settle, and they have the right to think so—it’s their life, and they will later bear the consequences of their decisions. I won’t change the world, either.

18:16 However, it’s great that after these interviews and those videos about the social security system, a large part of people are thinking about their own retirement. I believe that in the current times the best things we can invest in are gold, silver, and Bitcoin . Because we have a limited supply of them, and it will be hard to print more . Unless, of course, we start obtaining gold from stars, comets, or planets, but that is rather unlikely, so generally, investing in some assets that have a limited quantity.

18:54 With real estate, I would think very carefully, because the number of people on Earth will most likely drop, and especially in Poland, considering the birth rate, one can count on foreigners coming to work here in Poland and occupying these apartments. But looking at how the world is developing, AI, remote work somewhere, robotization, I expect that a mass of people will lose their jobs.

19:32 And I even have my own theory that it might turn out that people will move out of cities because there will be no more work, and real estate that a normal person, let's say, invests in— that is, a studio apartment in a big city—will start to lose value, while properties in the countryside will grow . And why do I have this theory? I have this theory because, looking at the development of AI and robotization, it seems to me that the first jobs to be replaced will be those, let's say, lower-paid, those that—I wouldn't

20:08 want to offend anyone here, but let's call them—less complicated or requiring little knowledge, such as an Uber driver, a taxi driver, a waiter. I don't want to say that this is easy work, because it's probably very hard work, but it doesn't require immense knowledge. It's not like you have to study for 5 years at a university to be a taxi driver, or that you need to gain knowledge for 5 years to be a waitress.

20:38 Even recently there was an interesting situation where, when I was flying to South Africa with a friend, a robot brought me a meal. Such a rolling robot . You've probably seen them, they are often in airports. Uh, but it was already performing the function of a waiter. It happened to be at the Frankfurt airport, because we were flying through Frankfurt.

20:56 Oh, the guys here seem to have caught something substantial. They're going full steam ahead, having fun. Oh, another one, another one. Nice. People have cool lives, right? In any case, in Frankfurt , a robot served me food right at the table. You just had to take the plates off it, but it drove up to the specific table. And that's it. And now I look at it from this perspective.

21:32 Elon Musk is going to create 50,000 autonomous trucks a year now, which means we can safely assume 1,000 drivers a week will lose their jobs. Because if he's doing it, he's doing it for a reason, right? Not so they can sit in the bushes, but these types of companies have everything calculated, right? Among other things, the demand. They wouldn't be producing 50,000 trucks if there was no demand for them.

21:57 Therefore, we can assume that it's 1,000 trucks per week, and thus 1,000 drivers per week will start losing their jobs from now on. And actually, you have to multiply that by two, because in the case of an autonomous truck, you don't need breaks , you don't need to sleep, you don't need to handle a tachograph. It can work for two. So we're assuming 2,000 truck drivers a week, and that's just one company.

22:23 Chinese autonomous trucks will enter the market soon. It may turn out that in five years, there will be no such thing as a truck driver. There won't be such things as taxi drivers, Uber drivers, food delivery workers, or waitresses. And I could go on and on and on listing these. So what will governments do in that case? Well, there is a lot of talk about a guaranteed income, about these people getting money from the companies that will use robots.

22:52 Those companies will pay higher taxes for the robots. Efficiency will be higher, but those taxes will go toward giving other people some kind of guaranteed income. But it's not like if someone earned 10 or 15,000 PLN a month driving a truck, they will get 10 or 15,000 in return, or if a waitress earned six, she will get six. Instead, everyone will get an equal guaranteed income, which will most likely be an absolute minimum, or perhaps even below that.

23:18 And the question I asked myself is, if such a guaranteed income were introduced, what would keep those people in big cities? Well, you could say that you like the big city. I like Warsaw because I like the vibe of Warsaw, I like going to the cinema, to restaurants, to parties in Warsaw. Yes, but if you can't afford it , what will keep you in Warsaw?

23:44 A large number of people are in places like Poznań, Warsaw, Gdańsk, or Kraków because there is work there, there are pubs, there is tourism. But now, if those people don't have jobs and have a guaranteed income, I can imagine a situation where someone says:" Damn, instead of paying 2,500 for a studio apartment in Warsaw, I'd rather move to the countryside and pay 1,000 or 1,500 PLN.

24:15 I'll also have a view of the forest, cleaner air, no traffic jams, and 1,000 PLN in my pocket. "Yes. And in theory, there could be a situation where it turns out there will be a massive exodus of people from cities and property prices will simply drop. If we add the falling population of our country to that, then I don't know if real estate will be such a secure investment over the coming years.

24:47 Of course, I think it's worth having them. But the question is, is it worth having real estate if I have 500,000 PLN and put everything into it, or is it only worth it when I have 5 million and buy three studio apartments for a million or a million and a half, so that if they lose value, I won't end up poor? It won't change my life that much. It is a way of diversifying.

25:13 Everyone has a completely different situation. Their age, their risk tolerance, and their capital. So it's hard when it comes to investments, like some people want, to give one universal answer for everyone. Well, because everyone has a completely different situation. Normally, I would tell everyone to invest a maximum of 10 or 20%in Bitcoin, but if I see a guy who is 70 years old and has a steady pension and would like to—he hasn't lived his whole life, just vegetated his whole life and would like to finally

25:48 live—well, I could tell him, I can imagine a situation where I could tell him:" You know what, old man, I’d go all in if I were you. "If you lose those savings, it won't change your life much. But if you double or triple it, maybe you can have some fun for the last 10 years of your life. I can just imagine such a situation. So I’m saying this as an example to show you that everyone has a completely different situation, and to really advise someone, you’d have to look at each person individually based on many, many,

26:21 many factors. Next question from Krzysiek. This is one thing I don’t like about you, Fil. Why kill animals for pleasure? There were several comments like that, since you could ask questions on X under the post where I wrote that I was hunting, so I will answer this collectively. I eat meat, I am a carnivore. I eat meat and I believe that hunting is the most honest way of obtaining meat.

26:55 As a carnivore, or even, we could say, a person who cares about animals, wants what's best for them, or likes animals and eats meat. If we are such a person, for example, I believe the most honest way of obtaining that meat is by hunting it yourself. Of course, not everyone has to do that, but I still believe that it is the most honest form of being a carnivore.

27:27 And looking through the lens of what today's meat industry looks like, I believe that the animals I eat have a much better situation and life than the animals of other carnivores. Yes, because we can obviously get into the issue here that someone believes that a pig has less of a right to live than a wild boar, or a chicken has less of a right to live than a duck or a pheasant.

27:59 Uh, however, I would then ask such people the question:" And who authorized you to decide which animal is better and which is worse, and which one gets to live and which one doesn't? "" And now, looking through the prism of how, for example, the life of a pig looks—one that doesn't see the sun, lives on a concrete floor, locked within four walls, fed with steroids, with feed containing antibiotics, herded from corner to corner, fattened as much as possible, and then, before its death, is terrified, packed into some

28:36 truck, a machine it doesn't know, traveling for many hours on the road with other scared pigs, and then waits in line for death, watching others die before it. Do animals feel? Yes, animals also sense this threat, this stress, this level of adrenaline in their blood. The stress hormones are much higher. And for many people, that is okay. It is some kind of absurdity to me, that it is exactly absurd that when I look at the people who criticize me, they are people who eat meat.

29:18 And now, looking at the life of my wild boar, or my buffalo, or antelope, or anything else, that animal lived as it should in nature, together with other animals, and until the very last second , it didn't know it would die. So which one has a better life? Which one is more respected? Yes, if we look at it equally, well, I eat meat and you eat meat.

29:50 That is why I believe that if someone eats store-bought meat, they should really shut their mouth. They make a fool of themselves, a total idiot and a hypocrite, who doesn't see a problem with broiler chickens, fed with steroid-laced feed, growing in five weeks from a chick into a 2.5 kg broiler. Under their own weight, their legs and bones break because they cannot keep up with the growth.

30:19 They limp or lie down for their last days before they are hung by their leg on a hook in some slaughterhouse and their throats are slit. And this person has the audacity to criticize someone who puts all their effort and time into hunting their own meat, which takes off from a pond and doesn't know if it's a hunter, a farmer, a tourist, or a fisherman.

30:46 It takes off from the pond in the same way every time, a shot is fired, and in that second, it is dead. It's as if Hitler were to criticize someone for slapping someone in the face, having death camps behind him. So if you eat meat, really think about what you are saying, because just shut your mouths, as it is ridiculous that a meat-eater is criticizing a hunter for hunting.

31:17 That is one issue. The second issue is, one could ask the question: but why did you go to Africa? You weren't hungry there, after all. You went for pleasure. I went somewhat for the adventure. To also experience life in many different ways. However, I would also like to tell you a bit about how it looks more or less. I explained the pigeons in Argentina a year ago while hunting, so I think this is also a good moment to explain hunting in Africa.

31:54 Well, it turns out that in those countries where there was no white man and which developed more poorly, which is a fact, the local people ate all the wild animals. In countries where there is no hunting, where there is no care for game, that game has been completely eaten up. A good example is Cuba, where there are no wild animals at all, because they were all eaten by poor people who, well , became poor due to communism.

32:29 They simply aren't there. Another good example was Cambodia or Vietnam, I don't remember which, but one of those countries. There were no birds there at all. When I was there with the guys from Gienia, we noticed that there were no birds there at all. And it turned out that people, out of poverty, were catching birds and eating them. And in that country, you won't see a bird sitting or flying in a tree anywhere, because they aren't there, because people ate them.

32:58 And that is how it looks in many poor African countries. People simply ate everything. In countries where the white man was present and which were slightly wealthier, people began to breed these animals for meat, among other things. And it looks like this: you can buy a farm here. A farm that is 30 by 30 km, 40 by 40 km, 50 by 50 km, which is fenced with wire mesh, with large fences, and there you can raise wild animals for meat.

33:30 Just as pigs are raised in Poland, here they raise warthogs. Just as a cow is raised in Poland, here they raise a buffalo or some other animal like an antelope. And from time to time, when the animal is ready for slaughter, hunters can come and hunt this animal, and they walk 10, 15, 20 km a day around these large farms, looking for such game, because these are huge areas.

34:03 It looks exactly the same as any other hunt. Usually in Poland, you don't walk 10 or 15 kilometers through fields and you can hunt such an animal. However, this is not about shooting every single animal. It is always done with a guide. The guide indicates whether it is allowed or not, and you pay for that animal. And thanks to this the farmer, the landowner earns money from the hunter, and earns money for the meat.

34:34 This game actually exists, not like in other countries where it has simply died out. I would even say. There is an entire hotel industry and restaurants. And again, the situation is the same as in the case of this country. Well, either we have what we had before, racial segregation and the country is rich, or we let everyone vote, there's no segregation, the country collapses, and there are junkies, alcoholics, and murders.

35:10 So now, what is better? No, it's hard to choose what is better. And it's the same with these hunts. Well, okay, you can shut it all down. You can shut it down, release these animals. The locals will come, eat them, and these animals won't exist. That's better. Restaurants will fail, hotels will fail, farmers will move out, leave , everything will be eaten, there won't be any animals at all, so, uh, well, maybe that's better.

35:38 Yes, there won't be any animals at all, and then no one will have anything to complain about. However, looking at how it looks right now, it is only because there is someone who wants such an adventure, let's say, to hunt their own meat and then eat it—because we eat this game here, the rest is sold to butcher shops , because here in Africa you can buy game in a store normally, like just like in Poland.

36:05 Only because of that does this industry exist, and there are hotels, and thanks to that, there are waiters, cooks, cleaners, drivers, spotters, and guides. Yes, the whole industry. If that didn't exist, there would just be more poverty. In the end, they would have just devoured those animals. So that's more or less how it looks when it comes to hunting.

36:30 So, two aspects. I hunt because I eat meat. Yes . I hunt because I consider it honest. Does that mean I think everyone who wants to eat meat should hunt? No. I don't give a damn. If someone wants to eat meat from a supermarket, they have the right to do so. I don't care. I'm showing my perspective. However, looking at it honestly, if someone wants to fight against meat-eaters, I invite you to the nearest supermarket, to the meat department.

36:58 Stand there by the refrigerators and convert people. You have plenty of people you can convert. Yes, because considering how many people hunt versus how many people don't hunt but eat meat, there you have huge numbers of people to convert. Go, stand there, tell people not to eat meat. Yes, because even looking at it very hardcore, many people who eat meat would never be able to kill an animal in their lives.

37:26 And these are the very people who say to a hunter, "Oh, you, oh, you, how could you," and then stuff their faces with chicken wings, which is complete nonsense. And what if they even introduced a meat-eater license, which would look like, okay, you want to eat meat, fine, but you have to work one day a year in a slaughterhouse, right? And people would take turns, right?

37:49 All meat-eaters together, those slaughterhouses would operate, but you have to have a meat-eater license. You have to hunt, you have to kill your own meat for the whole year. Yes, one pig, one cow, a certain number of chickens, and then once you process and dress it, you have a meat-eater license, you can buy your meat from a machine. I suspect that half the people wouldn't eat meat.

38:14 Yes, if we are to look at it that way. And for some reason, those people have the nerve to criticize someone who sources their own meat. We have another question from Krzysiek, no, from Jocza. Jocza. What is the biggest illusion that people who want to get rich believe in, which makes it so that even if they make a lot of money, they will never be truly free?

38:39 A very interesting question, quite philosophical. Uh, the biggest illusion, in my opinion, uh, is that once we earn money, all our problems will go away. Uh, they won't go away, others will appear, perhaps even bigger ones. Uh, it's not like in those beautiful movies where they lived happily ever after. There are completely different problems. Certain traps related to the mind appear, like a lack of emotion, which people substitute with either gambling, alcohol, sexual matters, or drugs.

39:20 There are issues regarding the fear of losing that level, that status. Because it's nice to travel abroad a dozen times a year and it's nice if it could be that way for the rest of your life, and that causes people, despite having money, to keep working because they are afraid that they might lose that level, for example. And it turns out that first you earn money to supposedly achieve financial freedom, and then once you have it, those people keep working to maintain it, and I would even say they are afraid of losing

39:52 it. Even though if you calculate it honestly, it would last them for the rest of their lives, even for two lifetimes, for some for three lifetimes , for some for four, but they still can't stop working because they fear: " What if something happens and I lose everything? Then I have to be at the top all the time, I have to be ahead of others, I have to keep developing so I don't lose the level I've already experienced."

40:22 So, so for some people, it's a bit of an endless game. They can't quit. And they work for freedom first, and then they work out of an imagined fear that if they don't, then They’ll lose what they worked for. And basically, nothing changes. Except maybe they wear more expensive clothes, drive nicer cars, take more expensive vacations, but they still have worries, they still have problems, just different ones.

41:01 Worries about their kids not growing up spoiled or not doing drugs. Worries about someone stealing it all. Worries about losing exactly what they have. Worries about the company, the employees, and so on. So, I think that’s the biggest illusion—that it’s not "I earned it , the end, and they lived happily ever after." Next question from Szymon. Hey, since the number of Poles is shrinking and birth rates are falling, who will be renting apartments in 20 or 30 years ?

41:32 Does investing in them for retirement still make sense? Well, I think I already answered that question earlier, so let’s move on to the next one. Paweł, do you think the current situation with Bitcoin might be a bull trap and that prices will fall in November after the US midterms? The price will drop, and then we’ll hit a real bottom according to the schedule.

41:51 I’ll start working my way back to answer that question. Of course, that’s a possibility. Throughout US history, most presidents have lost the midterm elections, so it may turn out that if Trump loses the midterms, well, then there won’t be that 5,000 dollars for every American. And that would automatically cause a crisis, the stock market would crash, we’d see drops, and we’d hit new, deeper lows.

42:25 I have funds prepared for such an eventuality. As I’ve repeated many times, if someone enters, in my opinion , it should be with 10-20%to have room for such situations. Like I say, nobody knows anything. We aren't able to predict it. However, exactly, if it turned out that I’d entered with 10 or 20%, it shouldn't hurt me if Bitcoin dipped to, say, 40,000 or 38,000 as some suggest; in fact, I should be happy because I can use that extra 10-20%for such an opportunity.

42:56 I consider it a short-term opportunity. You don't even have to hold until the end of the bull market, you can wait for a 50-100%gain, which is a much better result than what real estate, gold, silver, or bank deposits will provide in the near future, then exit while the rest keeps running, and prices should eventually recover anyway , so sure, it’s possible.

43:24 Am I betting on that, in the sense that I’ll wait until it happens? No way, never, because I'm trying to teach you not to bet on just one imagined scenario, but rather to set up your portfolio so you can be satisfied in any situation. When something is cheap, you buy it, and when it goes up, you sell it. We probably won't enter at the perfect bottom or exit at the perfect top, but it will be a profit.

43:53 A profit that will wait for another opportunity. If Bitcoin is cheap, then we buy more of it. If it goes up, we also buy it and just earn a bit less. When it's time for altcoins, we'll buy those too. If it's not the time for altcoins, I won't get into them. And that's it. That is my strategy. Maybe it's not for everyone, or maybe it's not for poor people.

44:19 As I said in my "Poverty Mentality" video, some people can't play such a safe and slow strategy because they have little capital, and for them, turning 5,000 into 15,000 changes nothing. And they have the right to play that way. They do have the right, it's just that history has shown it's better to turn 5,000 into 25,000 than into zero. But everyone is the architect of their own fate and has the right to invest and act however they want.

44:50 I don't do that, and I don't force anyone to copy me in any way. Yes , it's also important to note that this is not financial advice, nor is it financial coercion. I'm saying what I do, and I don't care what you do. So, if it happens, I will buy more. There are actually several scenarios here, so how can you even bet on just one in such a situation?

45:16 The chance of Trump winning is small. Even looking at how it looked in the case of other presidents. If he loses, there won't be that 5,000, and we could have a drop in the traditional stock market. And that's it. The stock market will drop 10 or 20%, and Bitcoin will then drop 40 or 50%. And is a level like 40 realistic? Yes, it is absolutely realistic.

45:39 On the other hand, it might turn out that he actually wins because people will be lured by that 5,000. And the stock market will grow, Bitcoin will go further, and we'll have it at 100k in no time. Is that probable? Yes, that's also probable. So now, how can you bet on just one scenario? That's completely pointless. You can buy now for 10 or 20%, and if it goes up, you buy more; if it falls, you buy more.

46:04 Then we know what happened. We have some entry level and we keep moving forward. Well yes, that's how the story went, and in my opinion, it's important to manage your capital in such a way that, in the worst case, you earn less rather than earning nothing or suffering a loss, as some people do who bet on a single scenario and their worst case is being down 90%and now their altcoin has to go up 10x just to break even.

46:28 Well, I prefer the scenario where instead of earning 4x, I earn 3x, but that beautiful, magic word "earn" still appears. So, that is my approach to the situation. Dariot asks: "Fil, at what amount is one hardware wallet no longer enough? And how do you handle inheritance so that the family has access, but no one can withdraw the funds?" I don't understand this second point, about the family having access but no one being able to withdraw funds ; I mean, either they have access or they don't.

47:03 If they have access, they can withdraw the funds. At what amount of money is one wallet not enough? Well , it depends on what your risk is, what your risk tolerance is, right? How much are you willing to lose, right? And as I keep telling people, we don't keep funds on exchanges, right? Because exchanges go bust. Well, yes. If someone, for example, has a million zlotys in crypto, but keeps 10,000 on exchanges, they can basically not care.

47:31 Right? And am I supposed to forbid them from keeping 10,000 on an exchange when they have a million in crypto and the remaining 990 is lying somewhere safe, of course not. And it's the same thing with wallets. How much would it hurt you to have lost it? Yes. How much do you not want to lose? How much do you want to protect yourself? What is your risk potential?

47:50 How much do you need that sense of security? And that is a question for you. Yes. Just like people often ask me: "Where should I hide my gold?" I don't know your house, after all. How could I possibly know? What am I supposed to tell you? Under the fourth floorboard by the radiator? I mean, what am I supposed to tell you? Where are you supposed to hide your gold?

48:08 I don't know if you live in an apartment, a block of flats, a house, a skyscraper, in the woods, by a lake or a river. How am I supposed to answer that question? Where you should hide your gold? So this is a similar question. You should have as many wallets as you need to feel secure. If you feel secure with one, then it's one . If you think it's better to have two just in case, then make it two.

48:32 If you think four, then four. That is one thing. Second thing, the inheritance issue. There are two options. Either a notary who will pass on, for example, your seeds immediately or after reaching a certain age. Uh, or smart contracts. That's also an option. There are smart contracts that function exactly like that, they are called Deadman Switches, and they work on the principle that you deposit your crypto into a wallet, into a smart contract, and it works such that if these funds sit there for a certain amount of

49:06 time, they are automatically paid out to other wallets, for example after some time has passed, or you can set it so that if there is no activity on a wallet for a while, the funds are automatically transferred to a specified other wallet. Yes. So you can do it so that you deposit into your wallet, and for example, if no moves are made for a period of 5 years, it will be paid out to two or three other wallets for your children, for your wife, and that's it.

49:36 And they will just have to wait 5 years after your death and they will receive the funds. So there are two options. Marcelo, you said that your goal was the journey to the money, not just having it. Does the fact that it came to you so quickly and on such a scale make you feel like you beat the whole game too fast? Best regards. The only thing is that it wasn't exactly super fast.

50:00 It wasn't like I picked numbers in the lottery and had that money the next day. Mmm, it took me 9 years, so I don't consider that, uh, fast. And besides, after those nine years, uh, well, I had enough money, let's say, for a peaceful life for the rest of my life, but from that moment it kept growing, right? And it wasn't that after 10 there was a huge jump, but you had to wait for another bull market again, and after another four years I had even more, some number of Xs more.

50:37 Well, that was a big jump, but it was another four years. And then the next bull market, right? where again there were some number of Xs more. Another jump, so from those previous Xs. Uh, so, well, well, to be where I am today, it took me, well, a very long time. Yes, it took me easily, you could say 20 years by now. So that is not exactly super fast.

51:08 And the initial achievement itself, that I could say, "okay, I did it," that was 9 years, so it wasn't exactly super fast. But you know, becoming financially free at 27 is much faster than most people who ever reach that level, because most won't. And that's one issue. The second thing, yes , I actually felt like I had beaten the game. There was a kind of post-success crisis, let's say.

51:38 It lasted for about half a year. I might even say I had a mild depression. I just felt there was no point to anything anymore, because I could buy what I wanted, do what I wanted, go where I wanted. And frankly, I didn't even know what I wanted, because I hadn't thought about that level of wealth. No, I didn't have ideas like, "Oh, now I'll go shark fishing in South Africa."

52:08 I probably didn't even know it was possible, so I figured I’d be like a couch potato for the rest of my life. Eat, drink, sleep. Eat, drink, sleep, eat, drink, sleep, and one day I'll die. And I decided that was pointless, but that feeling passed quickly. Then I started that group of independent investors. I met similar people. I think they learned about crypto from me, and I learned from them about life, their problems, or how they solved those problems.

52:40 That was really great. Because someone was always where I was going to be, right? For example, they had problems with kids, right? Like how to raise a kid when you have a lot of money, right? Or other things. So we started learning from each other, growing, traveling the world, and then I saw how many things were still ahead of me. But in the short term, such a thing could actually occur.

53:05 Kaing asks: "Hi Phil, on a different note than finance, what is the most interesting or rarest animal specimen you've hunted , since you haven't bragged about it yet?""I don't have anything like that where I hunt for rare animal specimens or ones that are particularly interesting. That's not how it works for me at all. I typically treat hunting purely as a way to obtain meat.

53:34 If there’s an opportunity, for instance, to do it in more interesting conditions or a more interesting environment, like here, then I do it. We hunt. Whatever they tell me to hunt, what's allowed and what's legal. Then we eat it, and that's it. I don't have this desire to hunt animals just for a trophy, for example. If you can do it on the side and use everything from it, then that's great.

54:05 It's just like the Indians used to do. Yes. When they killed an animal, they used everything from it so the animal wouldn't go to waste. Contrary to appearances, it is the hunter who most appreciates the animal and the meat, and doesn't waste or throw away a thing, because it's much easier to just go to the store, grab a tray of wings, swipe your card, and leave.

54:30 Yes, but when you have to get up at 4:00 a.m., trudge through the bushes, haul the animal, process it yourself, drive to some butchers to have them make products out of it, and get it tested, you won't throw it away. You won't throw it away. And well, I just have a completely different approach. I don't have this thing where I go and shoot a lion that I won't eat later, just for the sake of shooting a lion.

55:00 Something like that doesn't interest me at all. For me, it's about the adventure, those masculine emotions , that certain primal state of mind. When you're out hunting, you have to be focused. You have to put in all that effort to acquire your food. I can imagine that someone might not understand this and they just buy a tray of wings from the store.

55:31 But I also don't understand how you can drink soy lattes or practice hobby horsing, pretending that a fake horse head on a stick is a real horse. And I guess that's what's cool, that we can not understand each other in this world, and everyone should do what they want, as long as they don't harm another person. If hunting meant shooting something and throwing it in a ditch, that would be totally stupid, incomprehensible, and illogical.

56:00 I believe I don't belong to the group of people who are illogical and incapable of logical thought, and I would certainly never do something like that. So my approach is completely different. Mex, since the data didn't directly point to a bottom at the 59-60 level, does the" big fish "theory collapse because ETFs are running the market? Does looking at Glassnode even make sense anymore?

56:27 How will you analyze the market, any new indicators? Very cool question. Um, for starters, um, to understand how on-chain data works, it's not entirely the case that on-chain data is tasked with indicating a bottom, um, in such a way that they will predict that" this is the bottom " and from this moment on it will rise. They completely don't work like that.

56:52 They work based on past Bitcoin behaviors, and solely because Bitcoin didn't drop in time as it should have, nor in percentage as it should have, nor was there even fear like always, because the retail crowd wasn't there before. For that reason, they weren't showing that we had a bottom. However, that doesn't mean they wouldn't have shown it if it weren't for that huge, unnatural growth caused by those four events I already mentioned.

57:19 And now one might start to wonder, if that's what happened, does it mean that on-chain data will never show a bottom or a top again? Well, I don't think you can assume something like that, because the Bitcoin growth we saw from the 60, or maybe 58, 70,000 levels wasn't a natural Bitcoin rally. It wasn't like someone suddenly said:" Oh, it's cheap enough, I'll start buying.

57:51 "And a lot of people thought that, so it started to rise, and then it turned out others saw it rising and started coming in, and it kept growing. That's not how it looked at all. And we can see that thanks to on-chain data, such as addresses holding, for example, 0.1 Bitcoin, one Bitcoin, long-term or short-term addresses—you can still check that with on-chain data.

58:14 So what did it look like? Well, it looked like four news items came out, there were huge shorts, the shorts were liquidated , and suddenly Bitcoin costs 20,000 dollars more overnight. This is a completely, completely, completely different situation and it doesn't at all mean that they won't show a top now , or that they won't show the next bottom. Or returning to the earlier question we discussed, it may turn out that Trump loses the election.

58:45 It turns out the traditional stock market drops by 20%, which causes Bitcoin to drop by 50%and hit the 40,000 level. And then on-chain data will show the bottom. And then what? Do they work or don't they work? Yes. And people will say:" Konieczny bought Bitcoin here. "Others panicked too, bought Bitcoin, and now it's the real bottom. After all, it's obvious that you had to wait because cyclicality works.

59:10 That's what people will be saying. After all, it was obvious that it was a bull trap. After all, it's obvious that Bitcoin has to fall because it always drops by this much or that much. It is, and people will always say that it's obvious. That's how the market works—half bet one way, and half the other. And someone who got it right will always say it was obvious.

59:29 Because that's how they bet. So, someone is playing a short, right? And it turns out that at the bottom, it's going to rise. Then someone will come along and say:" Well, it was obvious they would want to cheat us and so on. "Yes. And if it had fallen, the one who played the short would have won. Well, after all, it's obvious. After all, it wasn't that much yet.

59:47 We were still that far off from a 70%drop. Someone will always come along and say it's obvious. So, and again, does that mean they won't work? They may still work. So that is one point. I don’t assume that just because this happened now, on-chain data will never work for bottom-picking again. If it were a natural rise, where short-term addresses suddenly start buying as if by magic, and 0-1 year addresses start buying, and everything suddenly starts to grow, and then other people join in, just as it has been until now,

01:00:22 then yes , one could say that the psychology changed and on-chain data didn't catch it. But it wasn't a matter of psychology. That’s just what various influencers are spewing now, the ones who were crying at the bottom. Saying it would go lower, that the bear market wasn't over yet, but then it turned out they all bought in. Deep down they believed it was the end of the bear market and they were all buying.

01:00:48 They didn't tell you that, but now they remember that they were buying back then, so so that’s one point. The second point is that you have to distinguish between on-chain data; there is on-chain data based on psychology and on-chain data based on hard, hard facts. Yes. And on-chain data based on psychology, like fear and greed, based for example on percentages of when people buy or timing, right?

01:01:25 These are metrics that didn't work in this bull run, for example, because there was a 20,000 surge in a few days, which was not a natural surge. Yes, it was a short squeeze, it was the result of certain news, several pieces at once . On the other hand, there is on-chain data that is hard data, like long-term and short-term wallets, the amount of Bitcoin on exchanges, or even the amount of Bitcoin in OTC addresses.

01:01:50 We don't know them all, but we can at least study the direction, like what" whale "wallets are doing, whether ETFs are buying or selling, or which exchanges hold the most Bitcoin or have the highest volumes. This is hard on-chain data that is also needed for other interesting market moves, such as identifying trends, catching pullbacks, or selecting altcoins for the bull market.

01:02:25 So these still work, and the former ones don't necessarily mean they won't work in the future. Dude, the halving elections are coming up. Can you summarize what might happen if Trump wins but doesn't hand out 5,000? He wins and hands out 5,000, he loses the election? I've more or less answered that question before; I'll answer it relatively quickly.

01:02:49 It mostly shows, well, that there are a great many scenarios. And someone will get it right, and someone will say it was obvious because they bet on that scenario, but it wasn't obvious. Well, someone just happened to hit on one of the scenarios. And there could be a situation where Trump wins and gives everyone 5,000, and the stock market skyrockets, and people have money; some will invest it, and some will go to the store and start buying iPhones and such with it, which in turn will make company shares rise, and the

01:03:21 stock market will go up too. Right? So we have an upside option. Bitcoin flies to 100,000 and there is no 40,000. There could also be an option where he wins but doesn't give anything away. It turns out he lied, and the stock market , for example, crashes because it was waiting for that 5,000, or he doesn't win at all. And what's more, if he doesn't win—we also don't know how the market will react, because he might not win and the market crashes, and it turns out, damn, there's no 5,000, or it might turn out that it

01:03:50 grows because he didn't win, because a certain sense of calm will emerge. There will be a situation, and this is a very important issue that few people talk about, that Trump's loss brings a certain peace to the markets, because currently, this man says one thing one day and another the next; he introduces this here, takes away that there, introduces tariffs here, takes away something there.

01:04:11 He is an unpredictable man who changes his mind three times a day. And now, if he has a situation similar to what we have in Poland, with a president from one camp and a government from another, they just bicker with each other. It acts a bit like a stopper; it slows down the economy, development, or even the implementation of stupid solutions. Someone can always veto something, or someone will want to introduce something while the others won't want to, or they will want to and he won't sign it.

01:04:41 And in a way, contrary to appearances, it may turn out that Trump's loss will bring calm because he won't have the politicians on his side, not everything will pass easily, and the United States will be more settled and predictable. So we have four scenarios; which one will come true, I honestly don't know. I don't give a damn because I have money set aside to buy more if it drops.

01:05:09 Who has a problem ? The person who went all-in, for example, has a problem. The person who didn't take profits during the last bull run has a problem. Those are certain problems, and there's always a trade-off. Yes, but I am not responsible for someone listening to me partially and partially to someone else . They exit a little bit, they don't exit, they buy some alts, and they buy a little of this and that.

01:05:32 I am saying what I do with my finances, with my capital, with my level of risk that I am able to bear, along with my percentage allocation. And now, when I say I'm exiting with half at the top because I don't know if it's a super cycle or a bear market, then someone who didn't exit because they bet on the super cycle has a problem today, because they have nothing to buy in with.

01:05:57 If someone exited entirely, well, they bet on the right variant. But what if they entered entirely now and it dips? Well, I wouldn't enter entirely. However, looking honestly at my scenario, it is very calm, but it constantly allows for profit. You can enter with those 10-20%intended for the market. If it dips, damn, that's a discount. Enter with another 10-20%that wasn't intended for this market, but you use it because it's a discount.

01:06:29 This is money that is waiting for an opportunity. Well, it appeared in Bitcoin, and maybe it would have appeared in gold, or in silver, or in anything else, or maybe it would have appeared in the traditional stock market; it appeared in Bitcoin. So, buy more. If it turns out it will grow, then you are already packed, you are in , and what you entered with is growing.

01:06:47 If you feel it's not enough, you'll buy more, you'll be 30%in the market, because you want to have 30%. However, you must always know that it's a trade-off. So there are four scenarios, two for growth, two for declines, and someone will come and say:" It was obvious "and they bet all their money on it. But I don't want to play scenarios, I don't want to play at fortune-telling, I want to deploy my capital so that I am constantly earning and making profit on profit, profit on profit, and profit on profit.

01:07:22 Alright, we're changing locations. I am now in the back of some truck. We are going hunting, so I will use this time to record something. It is quite windy today, so I don't know how it will turn out. I hope this noise won't bother you . Next question from Robert. Fil. You keep answering the same questions, and my question regarding Btechnology. You didn't answer my question regarding Btechnology.

01:07:56 What is the situation at the company? Are you satisfied with the achievements? When will there be an update? So, when it comes to Btechnology, well, the project is definitely not developing as fast as it was supposed to. I took into account that there would be some delays, as is always the case in various types of businesses. However, undoubtedly I would like to see this project, see it develop a bit faster.

01:08:21 The project creators have also decided to focus on building military drones. A large portion of people didn't fully understand the concept of this company and think the firm only builds a flying car. But the company consists of several elements. It consists of a toy element, it consists of a service drone element, say, more technical technologies. And it also consists of a military drone element, and the cherry on top is the, um, flying car.

01:08:58 Um, and a large part of the focus now has been on the military element, due to the conflict ongoing in Ukraine. Um, and things went very well there. This should also bring in quite a lot of money, which will go toward promotion, further development, and rewarding people who trusted the company. Um, and in connection with this, an update will appear soon.

01:09:26 An update that is already recorded, edited, put together, and ready to be published. I think it has been sitting on my drive for a good two weeks, but due to events that took place in the cryptocurrency market, I decided that other companies were simply more important. Um, then there was another video that talked about my whole strategy, to have a summary after the whole bull run.

01:09:49 And now I'm recording a Q&A for you, so I suspect a very, very interesting update that will pleasantly surprise many people regarding the company itself will take place after this Q&A. Next question. Why don't you recommend Kanga Exchange as an exchange anymore? As I recall, you are or were a shareholder of it. >> Shoot, it's shaking terribly here and I'm having trouble reading while driving.

01:10:17 Anyway, there are such huge, huge mountains here. As for, I don't know if it was a good idea to record in such circumstances, while also holding a weapon between my legs. But okay, regarding Kanga itself and promoting exchanges, as you probably noticed, author of the comment, I am not advertising any exchange at the moment, and I'm doing this in connection with the MiCA regulation that came into effect on July 1st.

01:10:49 I simply removed all exchanges. I removed affiliate links to Binance, Bybit, Kanga, and all other exchanges. I think I even removed Brave, the browser, and so on. Not knowing exactly how this law would be interpreted or how it would look, it turned out that it is possible to advertise and recommend exchanges that meet this MiCA law and are compliant with it.

01:11:21 However, due to my laziness and a bit of a lack of time, I simply haven't added any exchanges. So it's not like I didn't add Kanga for some reason; it's just that I don't have any exchanges. And now I think that after returning from Africa, I will review the exchanges, see which are interesting and which are not, and those links will simply appear. There will probably be a link to Kanga.

01:11:42 I see many influencers are promoting OKX right now, so I'll check if it makes sense. What kind of exchange is it, what does it look like. If I decide it's cool, I'll add a link to OKX as well. Perhaps there will be a link to Coinbase, Ledger, Trezor, and anything else I deem appropriate. Piotr K. I'm after a series. Admittedly, I didn't perfectly hit the bottom by following indicators, but I entered with 50%at 17.7 k.

01:12:09 What would you recommend for the rest of the capital? Wait for the Midterm Elections, do you think there will be drops? Thanks in advance. I'm reading these comments in a nutshell, because often you probably don't see it in the video as the camera is on a gimbal, but some of it is terrible. Uh, in a nutshell, I already answered the question of what I think about it.

01:12:30 Well , maybe it will drop, maybe it won't. Uh, entering at 17.7 k-18.3 k, looking back, I think it's a good entry. Uh, when Bitcoin costs over 100, or even over 200,000 dollars, there will be people saying you were lucky to get in so low. From an even longer-term perspective, when Bitcoin hits 800,000, you'll be in exactly the same situation as someone who bought Bitcoin at 8,000 dollars compared to today's 80, so I think it's fine.

01:13:00 Usually there were drops after midterms, you can still prepare for that. If it turns out that Trump's loss and not printing those 5,000 helps those drops, then you buy more. If not, and it turns out there are no drops. Uh, it turns out the market is going up. Uh, well, then in my opinion, it's also worth simply buying more, looking back. Uh, why do I think it's worth it?

01:13:23 Well, because I don't see any other better available investment at the moment over the next three years. Yes, because even assuming a scenario where you buy Bitcoin over 100,000 dollars. So what? So what? It hits 160, let's say. You've made 60%in less than 3 years. If it hits 200, you've made 100%. Does gold have a chance to grow by 100%from today's prices, silver?

01:13:50 Will real estate grow by 100%in three years, will a savings account give you 100%? Well, no. So in my opinion, it's still worth it, and that's a certain problem for people who want to hit the perfect bottom, the perfect top. They don't enter later, because if it's not perfect anymore, it doesn't count. Uh, and they don't make money. Well, in my opinion, it makes no sense, and in my opinion, it will still be profitable.

01:14:12 Unless you have some other better investment available. If it turns out there's time for altcoins along the way, then you'll multiply your result by two, three, four, or five when we get into altcoins. If it turns out there is no time for altcoins , the public didn't get in, and we have a repeat of the previous bull market, then oh well, at most you'll earn less, but you'll still earn.

01:14:33 So, that is my approach. That's how I play, and I think it's simply logical, smart, and consistently profitable, and time and compound interest will do the rest. Next question from Dominik. Phil, what will your book be about? My book will be about life, about my approach to life. I'm thinking about its title. Most likely it will be called For My Son.

01:14:59 Even though I don't have a son. But why such a title? Because it will be a book that I think every young boy should read, which will show my approach to life. It will be a book that, if someone believes in reincarnation, once I die, I would like to find somewhere on a shelf and just read. You don't have to agree with this approach of mine. Someone might find it pointless, and that's okay too.

01:15:30 Hmm, but I just want to pass on some of my thoughts in it. It will be about an approach to life, about economics, about money, and about the effort required to achieve financial freedom. It will be about how to do it, in my opinion, but also about the consequences of achieving that financial freedom. It will be a little bit about taking care of all aspects of life, meaning family, health, and money , because I believe these are equal aspects.

01:16:08 I don't agree with the saying that it's better to have health than money. I believe that you need to develop each of these aspects equally. However, this book is something that will appear, if it appears at all, in a few good years, at the earliest. Next question. You once said that Poland is one of the best countries to live in. Do you still think so?

01:16:35 Yes, I believe that Poland is one of the best countries to live in right now and I believe that a person who travels the world and sees what other countries are like will truly appreciate Poland; but I don't mean traveling all-inclusive and lying by the pool with a drink, but actually getting to know what the world looks like. Yesterday, we had the occasion where we got lost.

01:17:04 Returning from the beach and shark fishing, we drove through an African village where sewage and septic waste were running through the middle of the road, the main road. Poland is, in my opinion, one of the better countries to live on Earth. We have a nice climate and fairly nice weather. I know many people complain about the autumn period, about it being cold.

01:17:29 I look at it a little differently. For me, it’s a good motivator to leave, like now in October or November, to experience things and travel, and it’s even nice because, for instance, I was talking to people from South Africa, they usually don't travel, and from their point of view, it makes sense. I mean, why would they? They would go from their warm country to another warm country, just to swap their palm tree for another palm tree.

01:18:00 So these people don't explore, they don't experience the world. They have warmth and they stay put. So it seems to me, yes. Poland is also well-situated geopolitically. On one hand, looking at politics, it’s in an uninteresting place, between powers, but on the other hand, it’s well-placed enough that we are in the European Union, yet we aren't sitting in trenches.

01:18:22 By the way, my friend from Ukraine is sitting next to me. M. Exactly. Exactly. And he thinks so too. The guy here says:" Do you think so? " >> Yes. Well, you see, I think so too. Although he is more of a Pole, in my opinion. He has lived in Poland for many, many years, I think over a dozen. In any case, we aren't sitting in a trench, we can travel. On the other hand, we are in the West, so to speak, or in the center of Europe.

01:18:56 M, but we don't have those immigrants. Yes, we don't have them at all. I think Poland's fortune was that it was poor enough that they didn't want to settle here. Because I don't believe that the fact we don't have immigrants and problems like, for example, France has today, is due to our Polish awareness or that we didn't let them in. They simply didn't want to be here.

01:19:18 If we were a richer country, they would be here too. >> Besides, what can I say, a few years ago coalition politicians were running around trying to open the borders and interfering with the soldiers. So knowing what is happening in the West, what is there to talk about. >> So we have a golden mean. Is it perfect ? It is not perfect, but it is not perfect anywhere.

01:19:41 And I also tell people who, for example, say:" I would rather have been born in Switzerland. " I always say that you are looking at it from the perspective of a Pole who would have been born in Switzerland, but look at it honestly. You would be a Swiss person born in Switzerland and you would be snitching on your neighbor for firing up the grill, you’d be Swiss.

01:20:00 And so now, do you want to be a Swiss person, um, who snitches on people or is happy that someone snitched on them? Well, I wouldn’t want that. I’ve been to Switzerland, I saw those 30 km/h signs and speed cameras everywhere. So I wouldn’t want to be. Would I want to be German? Well, I wouldn’t want to be German. Yeah. Would I want to live somewhere in the north in the snow and cold all the time?

01:20:20 Well, I wouldn’t. Would I want to live in Africa and be a Black person ? I wouldn’t want to be Black and live in Africa, so it’s not ideal, but I still think that this is one of the best countries and one of the best places to live on Earth. Next question from Daniel. How much do you think you currently need in 2026/27 in terms of funds in Bitcoin, or, damn, just generally, for it to be enough to live on and have financial freedom for a family of 2 + 2?

01:20:48 Um, I believe the current level of, um, financial freedom starts from 5 million PLN upwards. Um, whether it’s in Bitcoin, where you can live off Bitcoin like a dividend, let's say I have 5 million PLN in Bitcoin, in three years it grows to 15, I spend a million on those 3 years of life, and I’m left with 14 plus. Well , I simplified the math, because by spending that money along the way, we also earn less.

01:21:12 You know what I mean. You can treat Bitcoin as a sort of dividend asset and just spend those satoshis, live off that, but in fiat terms, it grows faster than we are able to spend at this level. Um, another thing, if someone, for example, wants real estate, well, 5 million is 10 studio apartments, so that's 25,000 a month. I wouldn’t dump everything into Bitcoin or into studio apartments, but that is also a sufficient level to survive anywhere.

01:21:38 Yes, 25,000 PLN is 5,000 pounds, right? That’s, I don’t know, four, um, like 6,000 dollars or so. We are simply able to survive on that money. Realistically, I think it’s 5 million. Also, remember that financial independence is something different from financial freedom. Financial independence is a slightly lower level, where, for example, you know you have enough for a year, 2 years, three years of life.

01:22:01 You don’t have to worry too much about, well, survival. You know that even if you lose your job, you will have three, four years to think about what to do next. As for financial freedom, I also believe it is a level where you can live anywhere in the world, so it must be enough money to survive anywhere in the world. And I believe that 25,000 PLN a month for such a family is the level where it begins.

01:22:28 Next question. What do you think, muscle man, will a holder of 0.1 Bitcoin ever be very wealthy and financially independent? I once heard a theory based on a price prediction in The Simpsons, where Bitcoin had an infinity sign. I think 0.1 Bitcoin is a little bit too little. Assuming Bitcoin reaches the level of a million dollars per coin, which I believe it will.

01:22:53 Looking at how money loses purchasing power and weakens, I believe Bitcoin will do it. The question is, what will a million dollars be worth then? It might be worth as much as half a million dollars today. However, assuming such a level, even taking into account that it will be worth as much as today's million dollars, you would have 100,000 dollars , 360,000 PLN.

01:23:15 Is that a level of financial independence? It seems to me that it's a little bit too little. 0.2 Bitcoin, let's say 700,000 PLN, where you would be able to, for example, buy a studio apartment for rent and have 2,000 PLN per month. Oh damn, there's a river here. And now what? We are driving through it. Well, we're driving through it after all. Uh oh, it bottomed out.

01:23:46 We're stuck, we're stuck. Si is entering assuming that you have, that you have what? That you have 0.2 Bitcoin, a studio apartment that gives you 2,000 PLN per month, plus something in gold and Bitcoin, that is a realistic level, so I think 0.1 is a bit too little. Let's drive through this river before I turn it off, maybe I'll show you what it looks like in that direction.

01:24:28 Another question, if we are investing in Bitcoin for 10 years, is it better to enter now and is it worth entering, for example, some altcoins for the next minimum of 10 years? The answer is already included in this video, what I think about the coming months and the potential of Bitcoin and whether to enter or not. However, I will answer the second part.

01:24:53 We do not enter altcoins in the long term. History has shown us that altcoins lose during bear markets, they lose very heavily, and even if there are altcoins that manage to survive until the next bull market, few of them grow more. But those pullbacks really hurt them, and percentage-wise, if you wanted to get into a few or a dozen altcoins, even if you hit that one unique one that grows more and more with every bull market, the others will drag your overall result down significantly compared to just sitting in

01:25:26 Bitcoin or rotating Bitcoin—like buying near the lows and selling near the highs, without looking for the perfect top or bottom. A question from Piotr in a nutshell. Will I go back to recording my thoughts, and do I think Bitcoin will grow more than three times ? I bet that 3x is realistic, considering it did 8x in the last one. If I’m pleasantly surprised, that’s great.

01:25:55 However, I think that hitting 200,000 to 240,000 from current levels is realistic, and it would be a pretty cool result. Hmm, as for my thoughts, yes, I will go back to recording them. I might even record one tomorrow, because something came up. Uh, today, in the morning over breakfast, in connection with a message I received on Instagram from a certain person.

01:26:17 I replied to him privately, but I decided that more people should get such an answer, so it's possible I’ll record something even tomorrow. >> Next question. How do you intend to play Ethereum this cycle? I’ll just remind you that you exited at levels around 2700, and the current price is 2400, 2500. I didn't exit at 2700; I exited at exactly 2550 on June 15th.

01:26:43 Uh , how do I intend to play Ethereum? I don’t want to get into it alongside Bitcoin in this cycle. I think that if I do anything, it will only be Bitcoin. Uh, and when it’s time for altcoins, then I will enter into lower market cap altcoins to generate a bigger return. I think I’ll skip Ethereum in this bull market. Of course, that’s as of today . If things change or I decide that something cool has happened in Ethereum , then of course I will adjust my portfolio or my opinion accordingly.

01:27:23 However, as of today, I believe it’s either Bitcoin from now until the end, or Bitcoin and then altcoins until the end. Alright, I think we have it. I think I’ve answered quite a lot of questions. I don’t want to drag this episode out, so you don't get tired of overly long segments. I’ll most likely record some thoughts tomorrow. Uh, they’ll probably come out after the Q&A, and in the meantime, there will also be an update on the flying car and the Bchnology company in general.

01:27:52 And somewhere in between, there will probably be news from the world of cryptocurrencies. Uh, well, over the whole month I’ll be slowly collecting questions for the next Q&A, because in a month I’ll be in another country, but you'll see which one in a month. That's it. Thank you for listening. Until next time. Best regards. Bye. Ah.