Most people reject #Bitcoin without studying it They think they're smart, so they expect to understand it quickly and easily So instead of digging deeper after things get complicated, they conclude that Bitcoin is a scam This is why thousands of hours of study are required If you don't put in the thousands of hours, you will always have doubts in the back of your mind It's pretty interesting that someone who studied Bitcoin for thousands of hours can see how little someone else has studied bitcoin I think @PeterSchiff is an example of a Bitcoin hater who hasn't put in the required hours to understand Bitcoin In fact, I think he has put in no time at all I don't think he's lying when he says he doesn't own bitcoin He doesn't understand it! He thinks we will go to a gold backed cryptocurrency Anyone who has studied bitcoin realizes how stupid this is... To back a cryptocurrency with gold, YOU NEED CUSTODIANS We would be right back to a fiat currency system because whoever the custodians are... Will collude with governments and you'll have your money confiscated again like in 1933 The point of bitcoin is to avoid custodians You can have a custodian hold your Bitcoin for you (eg. Exchanges or ETFs) But you have the option to hold it yourself! "But hou can take self custody of gold too" If someone has $10,000,000 of gold, would they feel safe keeping it in their house? If they need to leave their country for whatever reason, can they take that gold with them? A gold backed cryptocurrency BRINGS YOU RIGHT BACK TO CENTRALIZATION You would need trusted custodians to settle payments... The point of Bitcoin is to AVOID this Governments can capture financial institutions that hold customer funds much more easily than millions or even billions of people who have their own secret way of keeping their Bitcoin

Real estate and stocks are a scam but 99% of people aren't ready for this conversation yet #Bitcoin    will take over both of these markets over time Real estate is a way for governments to extract property taxes and for banks to earn interest Governments want home prices to go up so homeowners feel a false sense of security and pay more in property taxes over time Banks want prices to go up so they can hand out bigger loans and earn more interest Stocks are a way for Wall Street to earn profits When you can hold your own assets, you don't need the financial industry to hold them for you and governments also can't track your wealth How many people hold the deed their house or stock certificates? Probably less than 1% This means the financial industry owns our assets and it can take those assets away from us Stocks are held by custodians and they can do whatever they want with your wealth GME is the best example of this scam Hedge funds were shorting more shares than what was in existence They were intentionally trying to bring the stock to zero to maximize their profits Real estate should NOT be an investment but we've been brainwashed to believe it is We use real estate as collateral for debt The wealthiest people have hundreds or even thousands of units and they are being used as savings accounts When people buy more houses than they need, they compete with families who are trying to buy a house to live in This pushes house prices up and prevents people from having a stable living situation Bitcoin is an abstract concept and many retail investors get angry at the idea of it being widely used as a savings tool EVEN THOUGH IT WOULD DIRECTLY BENEFIT THEM

Investing in stocks and real estate makes you rich at the expense of anyone who doesn't/can't invest in stocks and real estate

How the average person lives their life: 1) Go to school for 20+ years 2) Go to work for 40+ years 3) Be free for 5-15 years 4) Die This is like the phrase "pay yourself first": The majority of people save what's left over after expenses Similarly, they live life in the time that's left over after working for someone else most of their life Change the narrative Build businesses in your free time instead of watching TV Buy assets with your income instead of spending it on useless plastic goods from Amazon Take the time to learn about personal finance instead of focusing on celebrity gossip You'll retire way earlier than the average, and you can spend ALL your time however you want

Bitcoin is misunderstood by most people because almost nobody has thousands of hours to learn the following topics in depth: - Why gold was money for thousands of years - Central banking - Fractional reserve banking - Executive Order 6102 - The Nixon Shock - What is fiat currency - Money creation in the legacy financial system - Bitcoin supply and demand - Decentralization After you put in the time, it becomes obvious that decentralized uncorruptible money is where the world is going. Before you put in the time, it seems like buying Bitcoin is like buying air.

There are former professional athletes who are broke and miserable, after a career that earned $100m. If you don't get serious about cutting back on your expenses, you can never truly be free from financial obligations. This applies whether you earn $500 or 8 figures a year!

"Trying to sell the rest of my #Bitcoin    in Japan. I'm tired of crypto and want to get out (and get my JPY back)."

Financial institutions rely on you NOT understanding how money works. When you become financially literate, you realize that: 1) Earning 1% from your savings is very low 2) The 20% interest rate on your credit card is too high 3) Not saving means you will likely work forever

Don't be scared of #Bitcoin's volatility

The Federal Reserve issues the money that we use as a world reserve currency (the US Dollar). The Federal Reserve is not a government institution. It just uses the US government to force everybody to use US Dollars. Who earns the profits from the Federal Reserve?

"MR. 100" JUST KEEPS BUYING 4,300 #Bitcoin in the last 24 hours 🤯

The early 2,000s will be considered a very weird part of history where you can buy the best money in the world using the WORST money in the world. How long do you think this will last? #Bitcoin

Delaying gratification is painful. You're sacrificing a bit of today for a future that may never even exist. You know what would be even more painful? Being in your 60s, waiting for your next social security check, knowing you could have prevented this from happening.

"Intrinsic value" CANNOT be applied to commodities like #Bitcoin    Intrinsic value is supposed to be a way to calculate the true current value of an asset using variables like dividend streams, discounted cash flows, and residual income. Commodities don't produce any of these, so you can't use intrinsic value to calculate what they're worth. We don't value the food we eat based on the cash flow it provides - we price it based on supply and demand. #Bitcoin    is a commodity. Intrinsic value only applies to stocks, real estate, bonds, etc. It can be completely subjective based on an investor's assumptions for risk-free rates, consumer demand, etc. For example, people say "Apple has intrinsic value" and "Apple isn't a speculative investment because of its cash flows." How do you know people will still want iPhones 30 years from now? Intrinsic value doesn't consider disruptive technology or network effects, because it isn't designed to do so.

Part of the reason why housing is scarce is because we don't have enough labor to build homes Since houses are scarce, they've become a financial asset How many resources the current financial system extract from society (mostly in terms of labor)? #Bitcoin    disrupts the financial industry by eliminating individual human involvement in financial decisions, like deciding interest rates We pay people to predict where the market is going so that they can manipulate people into spending or saving This is essentially what the Federal Reserve's job is! Banks exist to store money, lend money, and give us a way to not have our money stolen via inflation THEY CREATE THE PROBLEM THEN GIVE US A SOLUTION Bitcoin makes it so that the market decides prices and rates for itself On a Bitcoin standard, 90% of the financial industry wouldn't exist The biggest reason for this is that we won't need millions of bank branches and ATMs to store our money! What happens to all those resources when Bitcoin replaces the current financial system or eliminates all redundancies? They will be used to solve more important problems, like building more houses, growing better food, and finding solutions to real problems, because that will be the only way to make money

Blackrock's Bitcoin ETF, IBIT, now holds 274,462 BTC, THE SAME as the last trading day This is the first time IBIT had $0 inflow after 71 straight days of positive numbers Is Bitcoin dead? No I guarantee that most people buying IBIT are retail investors Retail investors don't buy when the price is moving sideways - they base their decisions on emotions If BlackRock clients were institutional investors, they would be buying the dip So that means... 1) We got to 73k WITHOUT most institutional investors even caring 2) Blackrock clients aren't selling... meaning they're holding? How long is their holding period? We'll see what happens over the next few days Until then, enjoy buying Bitcoin at the $60K level and potentially below! This makes me happy because I get to continue buying low

A $60,000 job shouldn't require a $100,000 education.

Only buy #Bitcoin with money you don't need in the short term (eg. don't buy with your rent money). Build an emergency fund with 3-12 months of expenses so you can avoid being forced to sell if you lose your job or face an unexpected expense. You can buy small fractions of BTC over time if that's what you prefer. Ignore the people telling you to get to a 100% Bitcoin allocation - they don't know your financial situation. I think Bitcoin is the future but I still have a primary residence and a tiny bit of gold for the chance of a complete system collapse. I think a worse position to be in is selling in a panic because you can't handle the volatility. Don't put yourself in a situation where you have to sell when the market price is down 50%. Your emergency fund will let you avoid selling right in the middle of a bull market.

If you took this guy's advice and sold your #Bitcoin    and bought gold... You would have lost 70% of your purchasing power 😭😭

El Salvador is stacking #Bitcoin