I was at the ATM today. I hadn't gone in quite some time. I did it because I needed cash for the barber shop. And the thought crossed my mind, why doesn't the barber just accept bitcoin?
Later in the day, my wife texted me. She went with her cousin to shop for a burial plot. Her cousin ended up buying a $48,000 plot, very nice, beautiful scenery. My wife was wondering whether we should buy one too. If we later decide we don't need it, we can always sell it to someone else, she assured me. If we don't buy it now, it would only get more expensive later, she said.
I feel the reflex is to label this 'fiat,' but in the real world, it is not that simple.
interesting, please elaborate
Personally, I am guilty of wanting to dismiss others' reasons for desiring something because of the opportunity cost of not buying bitcoin. You didn't say what your response was to your wife, but I expect you didn't reproach her for not wanting to save it in bitcoin. If you did, then, I guess good for you! (lol) It is hard to understand why some people don't 'get it,' and knocking them over the head with the truth rarely works.
Edit: I should have said, I'm talking about labeling this 'fiat' as in having a 'fiat mentality'
Yup, I left it ambiguous on purpose. That's why this is in ~stacker_muse! It seemed like a poignant moment of reflection.
But this is what I replied to her, lol
Beautifully done.
I maybe wrongly assumed your wife doesn't 'get' bitcoin -- how can that be the case?
as mentioned elsewhere in this thread, ain't that fiat ona hell of a drug?
She is supportive bitcoin. Our disagreement over the burial plot isn't really about buying bitcoin as an alternative, it's more that I'm not sure we'll be in this city til our old age.
But I did think her saying that the price is just gonna get more expensive was one of those things that tickles a bitcoiner's ear
Sweet Jesus, for that could get an acre or two and have a family camp with it's own cemetery
but it's only gonna get more expensive later, don'tcha know
Funny I was just talking with my dad over Christmas and he brought their 5 plots up he's had for like 20 years... In a town neither my sibling or I live within hours of... nor could we use to plan given family sizes...
The distress when I told him to sell them 😂
Fiat is one hell of a drug
That's my main argument to my wife for not buying. Who knows where we'll be or where our kids will be in 20+ years
Would your dad be able to sell his plots at a profit?
I believe so, but I doubt it's more than a nominal return... Probably would have been better compounding in a money market... Plots don't benefit from mortgage inflation
Did you ask your barber if he or she would accept bitcoin? (It's not something I ask very often, but I'm trying to get better at it).
As to burial plots, I'd opt for cremation. In fact, I wonder if anyone has thought about capturing the crematory heat in order to power bitcoin miners...
I did not ask my barber. I tend to be very shy about these things, but next time I should!
I prefer cremation as well, and I said I want my ashes sent to space, or scattered into the ocean if the family can't afford space. But my wife prefers burial.
Thats my plan too, live forever.....j/k
On a serious note, pre-paying for those things are effectively lessening the burdens on your kids. One thing me and siblings were really grateful for was that my Mom had everything already sorted when she passed....burial plot, funeral cost, even wrote out what music she wanted for church etc....
When a loved dies, it can feel overwhelming to start making those kinds of decisions (and its even more complicated if you can't access their money at that moment), so that type of preplanning is good for kids.
Heh, I realized it could come off like that.
But what I had more in mind is, what if our entire family relocates, haha
This comment is very Six Feet Under!
There I go again!
LOL why peopke care so much where to be buried their useless corpse?
Wasting money.
You are dead, gone and don't give a shit about all the rest.
This deserve a meme.