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WaldoStacker 2y ago

We all know that CPI is lower than costs such as food and electricity, things we need to consume daily

But real average wages still haven't even tracked with CPI for the last two years:

3/21-22: CPI = 8.5%, real earnings = -2.4%

3/22-23: CPI = 5%, real earnings = -0.7%

What happens when people are slowly getting poorer and most don’t know there’s a clear reason for it? What might that stress do to their lives and their interactions with others?

A #Bitcoin Standard does fix this. But till then, people can take matters into their own hands and start saving in bitcoin today to combat this.

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GigaBTC 🌽⚡️🔑 2y ago

While I agree with you, this is difficult for many people. I grew up poor and have a lot of extended family below the poverty line.

I have tried to orange pill, put in the time to train and setup wallets, minimal DCA, etc. In every case, they sold their stack to cover an unexpected expense.

By unexpected, I mean $20 more in gas, rising food costs, etc. While it is frustrating to me as the “teacher”, I also know what it’s like trying to live on a monthly income that to many people is a nice weekend getaway.

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WaldoStacker 2y ago

I totally hear u and know from experience growing up as well what ur talking about. It’s not a magic bullet obviously.

That said, I’ve done a deep dive on whether or not those below poverty both in the US and in less developed countries save money. The answer in both is that yes, some do save but of course not everyone. However the probability of saving appears to increase once barriers are removed (initiation fees, maintenance fees, etc when it concerns banks).

The other part we both know is that education is key. It takes a long time to learn that saving in bitcoin very well may be the only chance to exit poverty over time. Once people know that this method is their best bet, perhaps more will save and never sell.

In the end, not everyone will be able to. Hopefully over time more will realize this is the way and even if only thru very small amounts it’ll one day add up. I remain hopeful.

Appreciate greatly ur perspective as it’s crucial to learn as much as possible so that we can keep trying to teach to our best ability 🤝🧡

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WaldoStacker 2y ago

I totally hear u and know from experience growing up as well what ur talking about. It’s not a magic bullet obviously.

That said, I’ve done a deep dive on whether or not those below poverty both in the US and in less developed countries save money. The answer in both is that yes, some do save but of course not everyone. However the probability of saving appears to increase once barriers are removed (initiation fees, maintenance fees, etc when it concerns banks).

The other part we both know is that education is key. It takes a long time to learn that saving in bitcoin very well may be the only chance to exit poverty over time. Once people know that this method is their best bet, perhaps more will save and never sell.

In the end, not everyone will be able to. Hopefully over time more will realize this is the way and even if only thru very small amounts it’ll one day add up. I remain hopeful.

Appreciate greatly ur perspective as it’s crucial to learn as much as possible so that we can keep trying to teach to our best ability 🤝🧡

Avatar
GigaBTC 🌽⚡️🔑 2y ago

The most frustrating part of digging yourself out is that you can’t take everyone with you. I try to be helpful and it’s unfortunate many people just want someone to rescue them and manage their life. This is why governments keep consolidating power.