Rajat Soni, CFA
Quoted from @rajatsonifnance on X
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Sold some old clothes to a vintage store
Got $29.40 CAD
Converted to Bitcoin immediately and got 20,218 Sats
This trade will age well
Got $29.40 CAD
Converted to Bitcoin immediately and got 20,218 Sats
This trade will age well
What happens to Bitcoin's price when major banks start accepting it as collateral for Bitcoin backed mortgages?
I first discovered bitcoin around 2010 and ignored it
I really started learning about it in 2021
I didn't buy any until 2022 - it took me around a year and a half to actually wrap my head around it and make my first buy
If I had figured out Bitcoin sooner, I would have probably left some on exchanges and this would have left me with PTSD (if I lost everything!)
If I figured it out today and wait a year (like I did from 2021-2022), I might be buying well above $100K (maybe even $200K-300K)
But remember - you're never too late to Bitcoin
Some people will figure it out at $500K
Others will get it at $50M
As long as someone is willing to sell you Bitcoin for fiat, you are early!
I really started learning about it in 2021
I didn't buy any until 2022 - it took me around a year and a half to actually wrap my head around it and make my first buy
If I had figured out Bitcoin sooner, I would have probably left some on exchanges and this would have left me with PTSD (if I lost everything!)
If I figured it out today and wait a year (like I did from 2021-2022), I might be buying well above $100K (maybe even $200K-300K)
But remember - you're never too late to Bitcoin
Some people will figure it out at $500K
Others will get it at $50M
As long as someone is willing to sell you Bitcoin for fiat, you are early!
It's hard for financial professionals to question the legacy financial system because their paycheck depends on it
The US government will spend more money than it earns in taxes
Forever
Forever
Index funds are a speculative investment
You're assuming that the value of the companies in that index are going to go up over time
But you have no idea
You're just guessing
You're assuming that the value of the companies in that index are going to go up over time
But you have no idea
You're just guessing
Stupid people will tell you to buy index funds over Bitcoin because "Bitcoin doesn't provide cash flow"
Real estate investing is one of the worst things that's happened to society
It drove us to the path that we are on today, with some people being able to afford hundreds of houses while others can't even buy one
Bitcoin fixes this by making real estate a very expensive liability
It drove us to the path that we are on today, with some people being able to afford hundreds of houses while others can't even buy one
Bitcoin fixes this by making real estate a very expensive liability
I want to buy a new car, but I've been delaying the purchase because I know in terms of Bitcoin car prices trend to 0
A car that costs $35,000 today (~0.32 BTC) is going to cost $40,000+ in a few years
But for anyone saving in BTC, the price of the car will fall to 0.3 BTC, then 0.25 BTC, and so on
When you save in fiat currencies, you are punished with higher prices if you delay purchases
When you save in Bitcoin, delaying purchases leads to lower prices
Obviously, you can't delay purchases forever
I'll just wait until I find a great deal on a car I like
A car that costs $35,000 today (~0.32 BTC) is going to cost $40,000+ in a few years
But for anyone saving in BTC, the price of the car will fall to 0.3 BTC, then 0.25 BTC, and so on
When you save in fiat currencies, you are punished with higher prices if you delay purchases
When you save in Bitcoin, delaying purchases leads to lower prices
Obviously, you can't delay purchases forever
I'll just wait until I find a great deal on a car I like
If you keep trying to time the market, you will never buy Bitcoin
When the price is going up, you'll feel like you missed out
When the price is going down, you'll feel like it's going to 0
Just buy you what you can, continue buying over time, and live your life
Time in the market > timing the market
Buy whatever you can and expect to be wrong for 4 years
After 4 years, I think you'll be pretty happy
When the price is going up, you'll feel like you missed out
When the price is going down, you'll feel like it's going to 0
Just buy you what you can, continue buying over time, and live your life
Time in the market > timing the market
Buy whatever you can and expect to be wrong for 4 years
After 4 years, I think you'll be pretty happy
Bitcoin works very well as base layer money with final settlement
We don't need it to do anything else
We don't need it to do anything else
I feel so much more pain when I see $100 in cash leaving my wallet
But I feel nothing when I spend it on a credit card
But I feel nothing when I spend it on a credit card
They can make build houses
They can find more gold
They can print more shares
They can issue more bonds and dollars
But there will NEVER be more than 21 million Bitcoin
They can find more gold
They can print more shares
They can issue more bonds and dollars
But there will NEVER be more than 21 million Bitcoin
I've never met someone who got rich owning index funds while working a 9-5
That's because:
1) You need to save for ~40 years to become financially free in the legacy financial system
2) Most people are risk averse (a job is "risk-free", a business is risky) so they just hold cash - they don't want to risk their savings on stocks
Buy Bitcoin and you'll be able to retire in 10-15 years instead of 40
Bitcoin is the best cash to ever exist
You don't have to worry about a business going bankrupt and taking you with it
You don't have to worry about a CEO making it stupid decision and ruining your future
The best part:
You get better returns than people who are taking a MUCH bigger risk than you (real estate and stock investing is basically just gambling at this point)
That's because:
1) You need to save for ~40 years to become financially free in the legacy financial system
2) Most people are risk averse (a job is "risk-free", a business is risky) so they just hold cash - they don't want to risk their savings on stocks
Buy Bitcoin and you'll be able to retire in 10-15 years instead of 40
Bitcoin is the best cash to ever exist
You don't have to worry about a business going bankrupt and taking you with it
You don't have to worry about a CEO making it stupid decision and ruining your future
The best part:
You get better returns than people who are taking a MUCH bigger risk than you (real estate and stock investing is basically just gambling at this point)
This is the biggest bubble in history
If you think I talk about Bitcoin to line my own pockets, you shouldn't own it
But let's think of this logically:
Do you really think that my content has a bigger impact than @saylor buying thousands of Bitcoin each week?
My goal is to get as many people on board before institutions like $MSTR and Blackrock get everything
The skeptics will continue to be skeptics, but Bitcoin doesn't care
Bitcoin will go to $1M, $10M and $100M without you
But let's think of this logically:
Do you really think that my content has a bigger impact than @saylor buying thousands of Bitcoin each week?
My goal is to get as many people on board before institutions like $MSTR and Blackrock get everything
The skeptics will continue to be skeptics, but Bitcoin doesn't care
Bitcoin will go to $1M, $10M and $100M without you
On a Bitcoin standard, no one will want to own real estate as a savings account
House prices will fall to utility value
Houses will be a liability rather than an asset
The wealthy won't want to own more houses than they need, because they would rather own Bitcoin
The cost of production for housing will trend to zero forever in terms of Bitcoin
In terms of dollars, house prices will increase forever
If you save in dollars, your cost of living will rise forever
If you save in Bitcoin, your cost of living will fall forever
The future is bright for Bitcoiners
House prices will fall to utility value
Houses will be a liability rather than an asset
The wealthy won't want to own more houses than they need, because they would rather own Bitcoin
The cost of production for housing will trend to zero forever in terms of Bitcoin
In terms of dollars, house prices will increase forever
If you save in dollars, your cost of living will rise forever
If you save in Bitcoin, your cost of living will fall forever
The future is bright for Bitcoiners
Bitcoin will no longer be volatile on a Bitcoin standard
But at that point you won't be able to buy Bitcoin for dollars
But at that point you won't be able to buy Bitcoin for dollars
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