People listen to me, when I talk about Bitcoin, because I don't have much of it.
I can relate to them.
Discussion
🤣 🌶️
😂 But, fr, tho.
The use case for hodling 50 million sats in the USA is clear. The use case for hodling 5000 sats in Malawi is clear. But what is the use case for hodling 5000 sats in the USA?
That last one is actually a really hard sell because if that's all you have and can get anytime soon, how is it more valuable to your life than putting gas in your car or paying down your credit card debt?
Everything costs so much in America...
This is why the gods blessed us with doggie coin
I only recommend Bitcoin.
Anything with inflation is less-useful than the USD or Euro, IMO.
If people keep whining about US gas prices we are willing to swap. 😂
Go ahead & convert those gallons to litres then compare...
I'm German and can't even afford a car. 😂
I swapped for two wheels some time ago. 😁
I just have my son's old bike, that he got for First Communion.
So, of course, I walk and ride the bus.
People assume poor people with no savings are just stupid, but they're often facing much more painful choices.
Like, if you give a poor person some money, they'd be likely to spend it or give it to someone else.
That's not because they're crazy or stupid. It's because
1) Their standard of living is so low that blowing money on something seemingly ridiculous like new sneakers will give them satisfaction for a long, long time and may raise their social status among their peers.
2) They don't have substantial financial savings and you probably didn't give them enough to have some, so their best economic bet is to stay good with their frens and relatives or impress someone to make a good connection.
3) Their chance of getting more of that money is very low, so the relative risk of gambling it away looks more attractive.
It’s less about rich and poor IMO, than high agency and low agency. Many poor people are surrounded by low-agency people and never really think there’s an alternative, but a high-agency person won’t stay poor for long.
They often move up in socio-economic status by joining the military, as mustering focuses on natural talent and abilities, and it can be easier to earn a decent wage or go to college, afterward.
But these same Bitcoiners think soldiers are losers, rather than ambitious and future-oriented, so those people can't win.
People be like, I'd buy Bitcoin, rather than a house.
You can't live in a Bitcoin, tho, and if you don't own your own home, you have to pay rent and rent is crazy-expensive and is money thrown down an endless black hole. And if you have a family, your tiny, crappy apartment will feel very tiny and very crappy.
They be like, Well, my kids will thank me, when they're older and it be like, You think you're going to have them growing up in a hovel, despite having money, and then you bust out 2 Bitcoin on your deathbed and any of them will be there to say goodbye?
Most poor people in the US are poor because of their personal choices and not outside circumstances. Most.
Their personal choices are Limited by their circumstances.
This is why people think it's weird that I zap so many sats, when I have so little of it. Yo, the people zapping me back also tend to not have much. That's just how we roll.
You get a casket of beer for laying tile, and you invite your neighbors over to drink it with you. Cuz when they get a casket for jumping someone's dead battery, they invite you over.
Our frens are our best store of value. This is how we be. We don't have a trust fund, we just have trust.
🫂
BTC The asset, and BTC the medium of value exchange, to me, are very different things. The latter I couldn't be more excited for as I continue to run into issues and grow concerns for legacy exchange such as credit cards and paypals.
The asset has no difference to somewhat risk adverse people like myself. To me is no different (yeah yeah ish) than holding a stock or say index fund, or bond (or cash if you want to get into fiat): A pointer to my portion of something that's value is entirely out of my control.
For me its about control (or perceived control I suppose) I would rather hold a pointer to something of value that I control. To me, that idea is a business I control. Real estate is a bit of a shitcoin to me. Yeah you need a place to live, that's a non negotiable, I can't live in my cold-card. My argument: a home's VALUE does not increase with time, it's price can, that's BS. What makes an increasingly used home more valuable with time? Things break, floors start to creak, leaks and water damage appear and aren't fully repaired, fixtures/hardware become outdated and lose efficiency. Price increases because the value of a home decreases slower (assuming money is spent to maintain it) than the price of materials (and land yada yada) increases. Maintenance is far from free, and I'd argue is relatively impossible to add value to a home at a rate faster than it wears, in such a way that you multiplied your investment. Mother nature will always win.
Why I don't think thats fair to label my above example as value:
Well for us kids wanting to purchase homes, price go up, and quality of house go down. They aren't equal. I just don't see boomers selling their homes and upgrading to mansions, they're usually downgrading or staying put because their home didn't increase in value relative to the rest of the market. It's impossible, how do you own a unicorn, your house isn't special.
Well, like you said, you need a home to live in and owners are at least playing into their own land. Land is scarce, and land in a nice area is even scarcer, so that's actually the part that rises in price the fastest.
Smartest method is therefore to buy the smallest, crappiest house in the best neighborhood, and renovate it, while you live in it.
The boomers are going to start dying off or defaulting, since most of them only have government pensions and those won't keep up with inflation.
Bitcoin The Asset is actually the only one you can truly hold, other than physical precious metals. Everything else is paper titles or debt notes.
I like investing in businesses because
1) My religion doesn't allow for someone hoarding money and demands talents (including business acumen and wealth) be used for the greater good.
2) I prefer investments to savings, as I am willing to risk losing the principle in order to generate cash flow. I simply keep part in savings.
