“A money that is easy to produce is no money at all, and easy money does not make a society richer; on the contrary, it makes it poorer by placing all its hard earned wealth for sale in exchange for something easy to produce.”
The #Bitcoin Standard 📚
Many people get tricked into using the USD price of a full #Bitcoin as the metric to determine BTC's value, it's overboughtness and oversoldness. This is wrong on several fronts.
First of all, a full #btc is made up of 100 million satoshis, currently Bitcoin's smallest unit. A single satoshi today is worth $0.00028, a small fraction of a penny. If people got used to referencing #btc in satoshis, they would not regard a $28,000 full BTC as expensive. To become a satoshi millionaire today costs only $275.51. See image 1.
I believe this amount, 1,000,000 sats, will mean something quite substantial in the future; however, the USD-based unit bias holds many people back from begining their journey of becoming a millionaire many times over in #bitcoin terms.
Secondly, value is relative, not absolute in terms of a number. The second image shows the bear market periods of #Bitcoin's past. As you can see, relative to the past, #BTC is just is cheap today in 2023 as it was in 2011, 2012, 2015 and 2020, when the USD value was much lower. Buying (or exchanging dollars for bitcoin) today is the same as buying it in each of these past years, in relative terms.
In the future, those buying today will look like genuises in my opinion. Many will marvel at how low or how cheaply they bought in future years like 2025 and 2028.
These years are coming whether we want them to or not. Why not let them come with us being satoshi millionaires many times over?!
The moral of the story here is to not get hung up on what the USD says a full #bitcoin is worth. This is in many ways judging the strong and mighty from the eyes of the weak. You're smarter than this.
Today, right now, #Bitcoin is cheap. Stop waiting for satoshis to fall from $0.00028 so you can get it cheaper. This is dumb and we are too early for this clownish behavior.
Buy weekly, move to cold storage (self-custody) each time you accumulate 1,000,000 satoshis and repeat. Repeat this for 4 to 5 years and your life just might be changed for the better forever. 🟠
🕵️♂️Satoshi's true intentions were hidden in plain sight.
⛏️However, what was buried deep inside the "genesis block,'' was more cryptic...
🧵Time for a thread exploring Satoshi's warning & prediction of a repeatable economic disaster.🧵
1/11
Dollar cost averaging #bitcoin, gold and stocks starting from the day of the bitcoin all time high:
- $BTC +16%
- $SPY +9%
- $GLD +7%
Bitcoin in front, albeit with much more volatility.
Some ask, "Why stack #bitcoin if we don't spend it?" 🤔
Well, many of us use it as a savings account.
Instead of saving in:
- Cash (like a melting ice cube due to inflation) 😅
-Stocks (with an excessive monetary premium) 😬
- Bonds (don't want to be the last one holding these) 😨
- Gold (unknown and total supply stored in vaults - ideal for the creation of "paper gold" by dishonest vault owners) 😏
- Real estate (it's really a headache due to property tax and the effort to maintain) 🥴
- Expensive cardboard (like Pokémon, Magic cards, baseball cards) This is really absurd if you think about it. 🤣
- Sneakers 👟
- Other collectables, 🎭
Instead of the above, we save in #btc, which has a cap of 21 million.
NOTE: The above methods of saving have gained popularity because "money" has been broken for a long time, and people are forced to save in unconventional ways.
When most people calculate how much capital needs to flow into #Bitcoin to push it to $1M, they assume we need $21T of capital inflows.
This is wrong because it ignores the #Bitcoin multiplier effect.
🧵Time for a thread🧵
1/
I spent 11 years studying Finance and $60,593 on a Finance Degree.
There are 21 Finance terms you need to know if you want to be rich.
Here's a breakdown of them in plain English:
The IDEAL Goal is to have the Block Reward #BTC Quantity Safely Stored in your Cold Storage One Day.
Buy #Bitcoin as if your life depended on it...
What do I mean by that?
Well, you should aim to have:
By 2024: 6.25 #BTC
If you don't, don't worry,
By 2028: 3.125 #BTC
If you don't, don't worry,
By 2032: 1.5625 #BTC
If you don't, don't worry,
By 2036: 0.78125 #BTC
If you don't, don't worry,
By 2040: 0.390625 #BTC
If you don't, don't worry,
By 2044: 0.1953125 #BTC
If you don't, don't worry,
By 2048: 0.048828125 #BTC
If you don't, don't worry,
Prepare for your Future!
Here are the halving events:
Third halving (2020): Block reward will be reduced from 12.5 #BTC to 6.25 #BTC
Fourth halving (2024): Block reward will be reduced from 6.25 #BTC to 3.125 #BTC
Fifth halving (2028): Block reward will be reduced from 3.125 #BTC to 1.5625 #BTC
Sixth halving (2032): Block reward will be reduced from 1.5625 #BTC to 0.78125 #BTC
Seventh halving (2036): Block reward will be reduced from 0.78125 #BTC to 0.390625 #BTC
Eighth halving (2040): Block reward will be reduced from 0.390625 #BTC to 0.1953125 #BTC
Ninth halving (2044): Block reward will be reduced from 0.1953125 #BTC to 0.09765625 #BTC
Tenth halving (2048): Block reward will be reduced from 0.09765625 #BTC to 0.048828125 #BTC
ALWAY PUT YOUR BITCOIN IN COLD STORAGE NOT A DRILL.
Stay Informed and Stay Prepared.