So I’m just learning about how bitcoin works now. However, if this is the legitimate belief, are all bitcoiners simply putting all their money in bitcoin and trying to live as cheap as possible? Is the goal to then be the rich when the value of a bitcoin is realized? Just curious because I recently bought some and I’m curious what the mindset is.
Discussion
considering you cannot predict the future or predict when bitcoin will hit a gold equivalent price (could take longer than a lifetime), best thing you can do is treat it like a savings account, be frugal, and get as much of it as possible earlier than later.
I will probably sell my house soon and convert it to bitcoin.
Rather than looking at it as “trying to get rich” I look at it more as where can I put the rewards of my work that will not lose value? USD, treasuries, real estate, stocks, gold, bitcoin.
Bitcoin is the hardest asset of all those. You can’t make more of it. Everything else can be inflated by someone else.
“sell my house soon” is a big move! 💪 did you recently reframe your needs? get even more conviction about bitcoin? just curious how you think about it and “why now”
Very interesting and that’s a good explanation. In my learning I’m not yet to the point of understanding how something digital can’t simply have more created, like fiat. I understand that it is a key aspect of bitcoin and I’m sure there is an answer. I’m looking forward to learning the answer.