Dan and Trent break down the importance of a long-term mindset in Bitcoin.

• Bitcoin price can be volatile over the short term, but over time the volatility is to the upside
• In past 13 years, Bitcoin has been by far the best performing asset class in 10 of the years, and in the other 3 it was the worst 
  • See chart
• In previous cycles the halving has kicked off a massive bull run.  Prices goes up a lot, but then corrects - each time to a much higher low.  The floor keeps rising
• Halving cycles.  Price at halving keep rising
  • See chart
• Big majority of Bitcoin held by strong hands with no intention of selling.  The number of liquid coins is very low.   This also drives large price moves
• It all gets back to time preference and long term thinking
• So many people want get rich quick, to take a short cut, not a long term commitment
• Bitcoin is proof of work - and what you put into learning Bitcoin you will get so much more in return
• Building anything of lasting value takes time and work - always has been
• Today’s song: Good Times Bad Times by Led Zeppelin