You are never too old for bitcoin.
This is Tito, he is 86 years old. Even though he has seen bitcoin grow over 16 years, one of his biggest fear is that if he buys a lot, since most places won’t take bitcoin he will have to sell below what he bought for an emergency.
What would you advise Tito?
https://video.nostr.build/14e9bd9f1e38a76edf3cb5b0b45f27ecb2eb7e1f928679145799efc8d27ec066.mp4
If advise not to use wallet of satoshi for big amounts.
HODL.
Then make a poem with each of your 12 words starting each sentence.
Read it to your grandkids everyday till they memorize it.
Then in your will tell them the passphrase is the first word of each sentence.
Then let the squid games begin! : )
Exactly!! He could buy a smaller amount so there’s no need to sell in the future or he can have a localized wallet to sell from and a cold storage for savings/inheritance.
The song idea is genius!!
Great idea. I had a similar idea with a children's book. This is much easier.
Mind sharing the poem you wrote?
Yes🙌🔥
Zapped Tito's WoS ⚡️
I'm as late to the bitcoin party as Tito, but at least we're at the party and not outside in the line 🥳
Just zapped his WoS as well. I love that anyone can just send value to another. Welcome to Bitcoin. Hodl
Bitcoin is a long term savings technology but you should not typically use it for an "emergency fund" (this is standard advice that you can google).
Having an emergency fund is a good idea and very important for people who are beginning in their journey of saving in things other than cash.
Build up and save around 3-5 months of your monthly outgoings and keep it aside in a savings account that you can access immediately without notice.
This is reserved for medical energencies and other emergencies such as losing your job etc.
Feel free to invest and save in other things in parallel if you don't have this emergency fund yet. Eg. Save $100 in emergency fund and $50 in bitcoin each month until you reach your target and then save $150 per month in bitcoin after you have reached your target.
If you already have the appropriate amount, feel free to just keep it aside and don't over indulge in Bitcoin.
You may feel differently after 5-10 years, but this is just good standard advice for anyone looking to start investing.
Explain the 4 year cycle
3 years up 1 year down
Tito is 86 and still smiling. I’d just listen to Tito. He should do whatever is most likely to keep the smile at this point.
Tito needs #ecash instead of WOS 🥜🥜🥜
