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Mindaugas
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Building software in fintech | Bitcoin and Lightning Network | Exploring the future of finance

This price point is awesome for using as a unit of account! Since prices around us in Europe are still in EUR (unfortunately), I can just knock off three zeros in my LN wallet, and it’s basically the same as EUR.

I will either enjoy this again when we hit the 1M price point, or better yet, when prices are quoted in sats - eliminating the need for a manipulated unit of account altogether.

The price is around100k and it has run smoothly for 15~ years. The pain lies with those who trade or FOMO during bull runs but ignore it otherwise.

Replying to Avatar HODL

A lot of people have heard my moped story, but heres the math on it.

In 2016 I needed $5,000 to pay my wife’s master’s school tuition.

I didn’t have $5,000 cash at the time, but I did have bitcoin.

Bitcoin was trading at roughly $500, so I would have had to sell 10 bitcoin in order to pay the tuition.

I didn’t want to do that so I sold my car instead for $5,500.

I took $500 of that and bought a shitty moped and used the rest to pay my wife’s tuition.

So I rode the moped around the rest of the year and everyone made fun of me. Usually I play this part of the story up, but tbh it didn’t bother me. The people making fun of me were poorer than I was, they didn’t understand bitcoin or the market or even basic budgeting.

When people would make fun of me I would tell them why I was doing what I was doing. Then I would start peppering them with questions about their financial life.

“Oh so you financed your refrigerator? You’re still paying that off huh?”

“You have a timeshare you’ve never been to? How’d you get talked into that?”

People would generally go from laughing at me riding the moped to feeling shell shocked by me popping their bubble of comfortable delusion.

Still I drove the moped and everyone thought I was being weird and ridiculous and silly etc…

At 100k that decision was worth a million dollars.

At a million it will have been worth 10 million.

And at 10 million it will have been a nine figure decision.

100 million dollars.

I only rode the stupid moped for 8 months.

Ask yourself? Would you face 8 months of sacrifice and ridicule for 10 million in the future?

Because there are things you could be doing today that would generate that for future you.

My advice is to have your own moped moment.

Do something a little weird/cringe/out there in order to stack more sats and then check in on the sats in 10-15 years.

I think you’re going to be happy with the results.

Have you kept the moped? It must hold significant symbolic value for you and your family.

These people think inflation is usually under 5%, so to them, they are making pretty decent money.

They also build in layers. Suits have different vision: corporations (layer 1), ETFs (layer 2).

#overcomplication

People with skin in the game and real experience usually keep their opinions and advice to themselves. It is often those without skin in the game who are the quickest to share their opinion and give advice.

This new wave of “experts” is unlike anything we’ve seen before - confusingly arrogant and unjustifiably confident.

Don’t worry man, shit happens. All the best in the future.

bitcoin is the first asset you can truly own. If you cannot self-custody it, what’s the point? It’s 2024 - this is no longer an unpopular opinion, it is a retarded one.

Chair is unnecessary. We have already been through this - “sell the chairs”.

Replying to Avatar ODELL

New fresh wave of Bitcoin “experts” - lost, confused, but confident.

“If your car is younger than Bitcoin, you are not stacking hard enough” - your words, not mine.

Look for an older Porsche - those are actually cooler. 😉