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Meyer
a74d0dea3f08c2a4c0dab1ede11ab6884c23da20f6f842d2fc10a97743e70606
#bitcoin Father, husband, fiat miner, ⛷️ , 🎣

I like to think that nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m is a great thinker and one of the good guys out there but I am completely baffled that he can trust someone as braindead/brainwashed as Mike Brock

The takes from that clown on twitter are really something else.

Agreed! Completely different world from a year ago and I find myself coming here more instead of opening twitter

Not sure what’s so funny about that…

Unless the existing financial system completely collapses (which I am not really rooting for) we are going to need services that allow us to interact with the traditional fiat system

Ha! I am in the same boat

Use fold to get bitcoin rewards for paying off mortgage, car payment and fiat credit card (have been getting killed though because I am doing auto conversion on deposits and then selling back to fiat in order to qualify for ACH and the spreads are criminal)

Use strike for daily DCA, lightning/onchain conversions, etc.

Just moved my weekly DCA from swan to river and plan to deposit some fiat so I can get that 3.8% interest paid out in BTC

Thank you sir!

I think anyone on nostr understands bitcoin better than 98% of the world including a lot of old school bitcoin guys that have massive bags

I hate when I say it but we are still very early…

If I had to choose one it would probably have to be SOV. Having an asset I can rely on to store my earnings over time and space is why I use Bitcoin as my primary savings vehicle.

I also understand I am privileged living in the US and don’t currently need Bitcoin to live my day to day life

I don’t disagree but you are delusional if you think people will not use custodial solutions

You ask these questions but then promote a shitcoin like Kaspa…

I don’t promote custodial solutions but you live in a fantasy world if you don’t think that a global money will not have some people using it with trusted custodians. I won’t hold my bitcoin with custodians but I am not going to bash people that choose to do so.

The key is that everyday people can “choose” to opt out and take their bitcoin into self-custody with relative ease.

The point of Bitcoin is to fix the money. That means different things to different people. Bitcoin is winning and will continue to win. Your shitcoin will continue to trend to zero against Bitcoin

Good morning! 🌞

Enjoying my second cup in the fiat mines. Less than two days left of 2024 which is insanity

Replying to Avatar HODL

Thought experiment.

Option # 1

Let’s say you have 10 bitcoin and we hit 2 million in the next few years.

You’re tempted so you sell it for 20 million dollars.

After taxes you’re be left with 16MM.

Which you use to comfortably generate 1.2MM a year in the tradfi markets.

So you take the money and retire.

Bitcoin crashes 60% back to 800k.

For a few years you feel like a genius. You enjoy your new rich person lifestyle.

You even buy back a few bitcoin. 2 to be exact. 20% of what you used to have.

Then bitcoin rises over the next decade to be worth 50 million per coin.

You’re worth 120 million now. And you decide to sell a little over half a coin and upgrade your lifestyle again to be able to generate an additional 2 million a year.

You’re now on paper worth 120 million, you generate 3.2 million a year (266k a month) and you’ve been largely stress free for the last decade.

Your kids will inherit roughly 1.62 bitcoin from you upon your death.

You have some level of regret about not hodling through, but you’ve been largely stress free and the mental health benefit was worth it in your mind.

Vs.

Option # 2

You have the same 10 bitcoin but you Hodl them.

Your stress levels are persistently higher.

You also decide to retire when Bitcoin hits 2 mil, but you decide to do so in bitcoin terms.

Your plan is to sell a little bitcoin as needed in order to fund your lifestyle.

This is roughly 1-3 million sats a month. Depending on bitcoin price.

Over the course of 10 years you end up selling or spending 2.4 bitcoin and are still left worth 7.6btc when bitcoin reaches 50 million.

Your net worth is 380 million.

You’ve reduced your lifestyle in bitcoin terms down to a million sats a month. (500k) or 6 million per year. You’re 46, Assuming you live until you’re 90 you will pass down 2.32 bitcoin to your kids.

You have no regrets about the way you played it, but your stress was consistently higher and there were a few scary months along the way.

Which option do you choose?

1 or 2?

I feel like I play out this thought experiment daily as I sit in the fiat mines…

What does it take to get to legend again? Donation over $1k usd?

So if I sent you a million sats I can get the $usd I paid for my premium refunded and not have to pay again for the rest of time?

Is anyone seeing my posts on here?

Is it possible to attach files or screenshots in Nostr dms? If so which clients support? Not seeing the ability to do so in nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg

#asknostr