There has to be balance. As much as I would like to stack more aggressively, my wife needs the financial security of having a certain amount of fiat in our account for the time being. It can be a struggle, but over time there will be little moments to share updates about Bitcoin and the community. She will start to see the value eventually. 🙏🏻🫂
Discussion
It's always smart to have different funds for different things, I know having more exposure to Bitcoin increases yields but having High-Yield Emergency Savings funds helps protect you from having to liquidate, or borrow against your BTC.
I recommend people to fix their fiat situation first, and to be financially stable/responsible in fiat before moving onto Bitcoin.
If people are in financially risky positions they won't have the clear mind to properly utilize Bitcoin.
Where I live there is no such thing as high yielding emergency funds.. it’s goes backwards so quickly - just this month vs the usd we lost 7%…
It’s an incredible balancing act.. and I do have a “stable” fiat mining job which is potentially a very good job but living like a “pleb” for a little bit longer for longer term freedom is what I need her to see for herself so I need some way of introducing it to her in a way that makes her fall down the rabbit hole at her own pace..
Yeah, based off the context it appears you're in Africa potentially, the global south absolutely needs Bitcoin, or other crypto technologies like to help alleviate the broken, or lack of safe, trustworthy, and good financial institutions.
Africa is starting from Zero basically, so in your case, going 80% to 100% Bitcoin might be more beneficial, that being said probably have a little money on the side to provide your shelter, and food, plus any other expenses you need, medicine, transportation, etc.
I generally give advice based off of Western/American systems since technically speaking Bitcoin only benefits us as a slightly faster payment system that's not inflationary but our financial institutions are strong, and reliable, and technically speaking The U.S. Dollar is the most sound money there is but personally I see Bitcoin, and other cryptocurrencies as a tool for personal freedom from the broken aspects of global banking.
Indeed I am in Africa.. country is still stable relative to other African countries so I’m grateful for that but ultimately the currency is going to become like Zimbabwe did and it’ll happen overnight..
So I have a place to stay and everything else covered monthly because of a fiat mining job which there is great potential to earn good fiat but I made a decision to not be my own boss because I wanted to prove to myself I can pivot in a career so monthly earnings have dramatically changed yet my stack obviously is still there.. and I’m by no means a whale..
USD is still the currency normies including myself wanted before BTC because 30 years ago we were trading at 3/1 now we are 5-6x that…
Anyways - I still love her and will figure out a way. Thanks for the advice 🙏
My mother is like this as well, she doesn't understand the technology, or benefit but I hope that it will improve for you.
I mean let me say - we’ve lived a really great life but NGU technology on someone’s mind who doesn’t understand the guts of it - that’s the challenge.. anyways! I love Nostr and the ability to communicate and actually get responses from real people - well assuming all the comments aren’t AI generated 🤣🤣
Just do what you can, keep it balanced, even though fiat sucks 90% of the world still operates off of it so have a little something on hand to protect you from bad things, look for opportunities to grow, education, new businesses, etc. so your fiat income can grow, and keep stacking, eventually your savings in both fiat, and Bitcoin/Crypto will be stable, and then you can hopefully start your own Bitcoin Business to help free the world, and improve your situation.
If you can download Cake Wallet, and I'll send you some Bitcoin 👍 on there.
This makes sense. Thank you. I have that but because the FIAT number(relative to ones experience ) is large in BTC terms I feels like a free for all.. 🙏