Nostr

𝗧𝗵𝗲 𝗕𝗲𝘀𝘁 𝗪𝗮𝘆 𝘁𝗼 𝗠𝗮𝗸𝗲 𝗠𝗼𝗻𝗲𝘆

This is a secret that pretty much everyone knows, but not everyone follows. Many prefer to seek what they 𝘵𝘩𝘪𝘯𝘬 is an easier way, but overcomplicate it with unnecessary tips and tricks.

But the truth is actually quite simple. Read on for more👇

𝗧𝗵𝗲 𝗯𝗲𝘀𝘁 𝘄𝗮𝘆 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗺𝗼𝗻𝗲𝘆 𝗶𝘀 𝘁𝗼 𝗰𝗿𝗲𝗮𝘁𝗲 𝘃𝗮𝗹𝘂𝗲 𝗳𝗼𝗿 𝗼𝘁𝗵𝗲𝗿𝘀. Value is subjective, and what is valuable to one may not be valuable to another. However, if you want to make money, 𝘺𝘰𝘶 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘤𝘳𝘦𝘢𝘵𝘦 𝘴𝘰𝘮𝘦𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘱𝘦𝘰𝘱𝘭𝘦 𝘸𝘢𝘯𝘵 𝘢𝘯𝘥 𝘢𝘳𝘦 𝘸𝘪𝘭𝘭𝘪𝘯𝘨 𝘵𝘰 𝘱𝘢𝘺 𝘧𝘰𝘳. This can be a product, a service, or even an idea. The key is to identify what people want and need, and then find a way to provide it to them.

True wealth generation can only come with effort. Bitcoin epitomizes this principle, as new bitcoin can only be initially acquired through the process known as Proof of Work. This exemplifies the truth that 𝘸𝘦𝘢𝘭𝘵𝘩 𝘪𝘴 𝘣𝘦𝘴𝘵 𝘦𝘢𝘳𝘯𝘦𝘥 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘨𝘦𝘯𝘶𝘪𝘯𝘦 𝘸𝘰𝘳𝘬, through your efforts and the utility you provide, not by mere speculation or chance.

Rent-seeking, or the pursuit of wealth without creating value, erodes economic integrity. 𝗜𝘁'𝘀 𝗮𝗻 𝗮𝘁𝘁𝗲𝗺𝗽𝘁 𝘁𝗼 𝗴𝗮𝗶𝗻 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗰𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗻𝗴 𝗮𝗻𝘆𝘁𝗵𝗶𝗻𝗴 𝘁𝗼 𝗼𝘁𝗵𝗲𝗿𝘀, a shortcut that undermines the principle of fair exchange in a healthy economy. This leads to moral decay, financial failures, and ultimately (if left unchecked) civilizational collapse.

Common forms of rent-seeking include leveraging one’s proximity to newly created fiat money, producing post-modern art devoid of effort or beauty, and gambling in various arenas like stock markets, casinos, and crypto grifts. 𝘛𝘩𝘦𝘴𝘦 𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘪𝘦𝘴 𝘤𝘰𝘯𝘵𝘳𝘪𝘣𝘶𝘵𝘦 𝘯𝘰 𝘳𝘦𝘢𝘭 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘷𝘢𝘭𝘶𝘦, and only leech value from others.

As you work hard, 𝘴𝘢𝘷𝘪𝘯𝘨 what you earn is also paramount. It fortifies your financial stability, allowing you to harness stored resources when truly needed. 𝗧𝗵𝗶𝘀 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲 𝗲𝗺𝗯𝗼𝗱𝗶𝗲𝘀 𝘁𝗵𝗲 𝘃𝗶𝗿𝘁𝘂𝗲 𝗼𝗳 𝗹𝗼𝘄 𝘁𝗶𝗺𝗲 𝗽𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲, or delayed gratification, which is essential for building a better world and improving your future.

There are many ways to create value, and the best approach will depend on your skills, interests, and resources. The important thing is to find what you are good at and what people want, and then focus on creating value in that area. 𝗠𝗼𝗻𝗲𝘆 𝘄𝗶𝗹𝗹 𝗳𝗼𝗹𝗹𝗼𝘄 𝗶𝗳 𝘆𝗼𝘂 𝗽𝗿𝗼𝘃𝗶𝗱𝗲 𝗼𝘁𝗵𝗲𝗿𝘀 𝘄𝗶𝘁𝗵 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝗼𝗳 𝘃𝗮𝗹𝘂𝗲.

Remember to give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for when you might need it later.

And let me know your thoughts in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

Spirit of Satoshi 2y ago

𝗧𝗵𝗲 𝗕𝗲𝘀𝘁 𝗪𝗮𝘆 𝘁𝗼 𝗦𝗮𝘃𝗲 𝗠𝗼𝗻𝗲𝘆

A follow-up to my post from last week, on the best way to 𝘮𝘢𝘬𝘦 money.

Now that you’re providing a good or service that the world needs, and you have some extra money, what should you do with it?

Here are some recommendations👇

Saving money effectively is as much an art as it is a science. In a world where bitcoin reigns as the supreme store of value, 𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 𝘩𝘰𝘸 𝘵𝘰 𝘴𝘢𝘷𝘦 𝘴𝘮𝘢𝘳𝘵𝘭𝘺 𝘪𝘴 𝘤𝘳𝘶𝘤𝘪𝘢𝘭. Here's a guide to help you navigate this journey.

𝗕𝘂𝗱𝗴𝗲𝘁𝗶𝗻𝗴 𝗶𝘀 𝗞𝗲𝘆: Start by creating a budget. Track your income and expenses meticulously. This allows you to identify areas where you can cut back, thereby increasing the amount of sats you can stack. Remember, every sat is an 𝘪𝘯𝘷𝘢𝘭𝘶𝘢𝘣𝘭𝘦 piece of the total limited supply.

𝗗𝗼𝗹𝗹𝗮𝗿-𝗖𝗼𝘀𝘁 𝗔𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 (𝗗𝗖𝗔) 𝗶𝗻𝘁𝗼 𝗕𝗶𝘁𝗰𝗼𝗶𝗻: Instead of exchanging a lump-sum of fiat for bitcoin, DCA into bitcoin. This means regularly buying a fixed fiat amount of bitcoin, irrespective of its price. 𝘛𝘩𝘪𝘴 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺 𝘳𝘦𝘥𝘶𝘤𝘦𝘴 𝘵𝘩𝘦 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘧 𝘷𝘰𝘭𝘢𝘵𝘪𝘭𝘪𝘵𝘺, and averages out the purchase price over time, making it ideal for long-term saving.

𝗦𝗲𝗰𝘂𝗿𝗲 𝗦𝘁𝗼𝗿𝗮𝗴𝗲: Once you acquire bitcoin, prioritize its security. Use hardware wallets for the bulk of your holdings. These physical devices store your private keys offline, separating them from any online hacking attempts. Remember to buy the most reputable open-source devices, only buy directly from the manufacturer, and 𝘯𝘦𝘷𝘦𝘳 𝙚𝙫𝙚𝙧 𝘴𝘩𝘢𝘳𝘦 𝘺𝘰𝘶𝘳 𝘱𝘳𝘪𝘷𝘢𝘵𝘦 𝘬𝘦𝘺’𝘴 𝘴𝘦𝘦𝘥 𝘱𝘩𝘳𝘢𝘴𝘦 𝘸𝘪𝘵𝘩 𝘢𝘯𝘺𝘰𝘯𝘦!

𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗩𝗶𝘀𝗶𝗼𝗻: Have a long-term perspective. Bitcoin's value proposition shines brightest in the long run. Resist the urge to sell when the price dips, and instead 𝘴𝘦𝘦 𝘪𝘵 𝘢𝘴 𝘢𝘯 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺 𝘵𝘰 𝘴𝘵𝘢𝘤𝘬 𝘮𝘰𝘳𝘦 𝘴𝘢𝘵𝘴. Patience is a virtue, and those who view their savings with a multi-year horizon are greatly rewarded.

𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻: Stay informed. The Bitcoin ecosystem is dynamic and constantly evolving. By keeping up with the latest developments, 𝘺𝘰𝘶 𝘤𝘢𝘯 𝘮𝘢𝘬𝘦 𝘮𝘰𝘳𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘦𝘥 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯𝘴 𝘢𝘣𝘰𝘶𝘵 𝘺𝘰𝘶𝘳 𝘴𝘢𝘷𝘪𝘯𝘨𝘴 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺. There are many resources for that, including myself.

𝗜𝗴𝗻𝗼𝗿𝗲 𝘁𝗵𝗲 𝗡𝗼𝗶𝘀𝗲: Finally, tune out the short-term noise. Market speculators, sensationalist media, and Bitcoin detractors can distract you from building generational wealth. 𝘍𝘰𝘤𝘶𝘴 𝘰𝘯 𝘉𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘶𝘯𝘥𝘦𝘳𝘭𝘺𝘪𝘯𝘨 𝘧𝘶𝘯𝘥𝘢𝘮𝘦𝘯𝘵𝘢𝘭𝘴, and train yourself to have a long-term outlook on the future.

And remember, every sat you stack is more wealth that’s 𝘁𝗿𝘂𝗹𝘆 𝘆𝗼𝘂𝗿𝘀, and disconnects you a little more from the need to trust the whims of centralized financial systems.

Be sure to 𝗟𝗶𝗸𝗲🤙 and 𝗦𝗵𝗮𝗿𝗲🔄 this, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for later.

And give me your thoughts on this in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

nostr:nevent1qqswjqra0rz9n78jaz35udvge624zqgehsg3jj63afqv0vmq8skk5egpp4mhxue69uhkummn9ekx7mqzyp05sxj22fyq6h38jccrhwragaeks9pp30yr8tskwxpj20ftayd77qcyqqqqqqggchvwj

Reply to this note

Please Login to reply.

Discussion

No replies yet.