Oddbean new post about login | logout With all due respect, I think you are incredibly wrong on that one.
Perhaps. 🤷♀️ I got to Bitcoin years after you have and I'm just relieved to break even and not get crushed by market capture by the institutional players. I think I'm playing a different game: trying to stack with fiat pennies, in a race against people like Michael Saylor and Jamie Dimon and Allianz.
Everyone missed the bus. Everyone. https://dergigi.com/assets/images/bitcoin/2022-11-19-dear-crypto-fiat-bros/missed-the-bus.jpg
I think you aren't adequately accounting for wider deflation caused by economic collapse and demographic decline. I actually think Bitcoin is the best money for our time because the supply will eventually shrink along with the economy, thereby maintaining its purchasing power indefinitely. But Bitcoin isn't the only monetary system that can deflate. Fiat can also deflate. Bitcoin is the only one that can deflate _painlessly_
I concur
All of the gazillionaires agree that Bitcoin will make us all gazillionaires. 😂 How many people stacking in €20 or €200 increments, starting last year or so, would agree with that? Doubt any of us expect that. We hardly have any and we're collecting small amounts.
Here’s the math. If a person starts stacking $200 a week every week for 10 years. At the end they will have 1.3 million dollars. This assumes the bitcoin price goes to 1.7 million. 40% cagr https://image.nostr.build/9368fd13740ce33eabe9936c47478c3827ba0fd4a0a13b0cea0379c1d774e59c.jpg
Who do you think can afford to stack $200/week? 😂 That's what I mean. That doesn't even sound like a lot of money to you, but that's a lot of money. Most people can barely afford groceries. Do the math with something more realistic, like $50/week or $10/week. It's a nice pot of cash, but nobody is buying a lambo-and-a-bimbo with that.
Imo 90% of working age people living in the west can find $200 a week easily.
But here’s the math for $50 a week over 21 years. This assumes a 13 million dollar bitcoin price by 2045. Which is Arks base case. https://image.nostr.build/f8c098ffb18b89250dff93d4097a94373cba9f284022abe8c4b2acf34b3910a8.jpg
Argentina entry lvl job here. I can stack 50 a week if i'm degen enough without cutting the food budged.
Crushing it bro. Your bloodline will remember your name.
He has not said that he has a bloodline.
He will with a stack like that lol
Bitcoiners don't like to spend Bitcoin; just like to acquire more of it. Families make it harder to stack.
Start selling off everything that’s not useful to you and your family. I’m not sure about your personal situation, but if you have time, take on a side gig or a second job and use all that money to buy as much Bitcoin as you possibly can. One man’s junk is another man’s potpourri ~The Grinch
Useless advice, but thanks.
Well, you need THINK and then take some action about how you’re going to acquire more bitcoin. With an attitude like that, you will likely remain poor. All the best
No comment. nostr:nevent1qvzqqqqqqypzq9nn808lyy7gsucr3klnqyvu9wep2d5qm6k78gh2q6w0yyupmtvqqqsvrzkk8eu8ypk5v9hvs9ct2fcfnz8qwu3ku39xcayx96jcdecv8pqllee0m
Spend less sats then you earn. It's that simple. If the reality of that is upsetting, you should consider why you feel that way.
Poor isn't so bad in a world with a fair monetary system. At least it reduces the number of people who can screw you.
No comment 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/9f05161b0a4444b33a94865fcaa63458bc5d4b924e1e2dd6db0e42f3206620d5.webp https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/461b25bfad6072e8a3e432eb1358561340f2850bf59a270d2eae20236b10b40f.webp https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/ce812ae1103f3dff7fda291a53265abd2654b8bfaab597f3c352645d5814c436.webp https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/936edc3d1b10661d0a669d388ac3582868e387c1a020e4c37509fe42b0ab7eb0.webp
Allow me a moment to speak 🗣️ freely -. 1. Don’t assume everyone online is who they portray themselves to be 2. Speak your truth always and then no need to consider anything other than speaking your truth or however you spend your time. Kindred….
Where do you get the 40% and 29.3% interest rates?
I doubt ! Most people are locked in debt and live paycheck to paycheck ! https://www.fool.com/the-ascent/banks/articles/new-survey-shows-most-middle-class-americans-are-struggling-to-save-money-how-do-you-compare/
Good grief. Where do you live? Where I live, many people don't even earn $200/week as wage-earners and many other people are effectively broke.
In Germany?
Yes, of course.
Is Europe really that poor? Because if so that’s shocking to me.
In the West of where? Of the US? Spain, France, Italy are major Western European economies, and the amount of "working age people" who can save 800-1000 dollars a month is very far from 90%. It's probably not even 30%.
Why is everyone so poor in Europe?
Taxation, mainly. It prevents the economy from developing, preys on the gains made in the past until they're gone, and then it directly steals whatever is left for people to earn.
Socialism
yeah guess what, since coming to Germany, I've been used to choosing carefully which meat to buy in a grocery and which fruit juice can i afford. it's fucking hilarious because back in China i could order takeout of fine made restaurants every meal, i never worried the cost of dining. I'm still trying to figure out why everything in Germany is so expensive while the services are so awful.
You live in a fantasy world.
How so? Is Ireland really that poor?
I can speak for Italy since my dad/grandpa fled their socialism for the US. There are very limited jobs. Low pay. Locked out of the international economy largely bc they don’t speak English. Avg salary like $2000/month. I would probably be driving a taxi if he didn’t immigrate to the US. The US is the land of opportunity. Americans view Europe thru a Hollywood lens where it is romanticized. That only exists if you have money. So yeah saving $200 a week isn’t happening let alone putting it into btc.
Yep. I buy 10 a week. With occasional one time purchases. I suppose I could eat Ramen noodles and Vienna sausages every day to up that but between taxes, food, rent and utilities that 30 an hour I make goes pretty quick. Plus the big hitter of paying off the debt I ran up in my 20s of course. Haven’t added anything new to the debt in years. How many people just getting into bitcoin are also paying off at least 10-20,000 in debt? Whether it’s credit cards, student loans, a car. Whatever it might be.
The amount of Bitcoin I'm stacking will make me one of the wealthiest women around, but I'm _already_ one of the wealthiest. Doesn't take much. Some just seem wealthier because they've bought snazzier cars and taken out bigger mortgages, and have fancier titles, but they're effectively broke. They don't have any real money or anything they could quickly liquidate for money.
componies are more difficult to hide compared to individuals, big properties are more difficult to hide comoared to little properties, the same for big money flows compared to little mony flows. A company today is a fiat nightmare, you cant avoid taxation, arbitrary regulations of any kind. You will also suffer in big the cantillon effect with market competitors state-owned literally playing another sport killing every market. Today a company is really really really problematic and I would open one only if the business I want to do is impossible to do in a parallel-economy way (would sell item on nostr for bitcoin instead of become a "licensed vendor of something" for example...).
or this: nostr:nevent1qqsf2c7y83jqyxhuehawzgaqax309sfxhpnzy059yugx5r8ygc8zh5sppemhxue69uhkummn9ekx7mp0qgsxu35yyt0mwjjh8pcz4zprhxegz69t4wr9t74vk6zne58wzh0waycrqsqqqqqpw97g6k
