reality for the young multicoiners: hold 20-30 years \ stacker news ~bitcoin

reality for the young multicoiners: hold 20-30 years

2247 sats \ 29 comments \ @sourcecreator 31 Jul 2023 bitcoin

For any young man or woman (20s or early 30s) who somehow has been able to stack multiple full coins in this era:

If we are right about hyperbitcoinization, if such a young person were to simply hold securely their keys for 20 years (the length of a typical "career"), that person would basically end up with a net worth of several hundreds of millions, and depending on the number of coins, multi-billions of today's dollars comparison.

No above-average "successful" person, except for the EXTREMELY successful, lucky, and HARD WORKING entrepreneurs of the world could ever expect to achieve that net worth from 20 years of blood, sweat, risk, and failures. For a young multicoiner, that status is practically guaranteed if they would simply treat hodling like their job/business for those 20 years and live below their means the whole time.

What is the difference? The entrepreneur in the fiat world would work his ass off for 20+ years building a biz from scratch and possibly reach a billionaire status by making it a massively successful business. The multicoiner could simply hold and work enough to meet their ends each month of personal spending, that's it. A drastic difference in required effort and skill, but the end result is the same.

And that's just the expectation over 20 years. Imagine "working" (hodling) for 30 years, as some careers last even that long. A young person could ABSOLUTELY expect to be not only a multibillionaire, but likely equivalent of a decabillionaire (tens of billions) at the end of the holding period if they radically preserve their stack for the whole period. After 30 years, good luck spending even 1% of your net worth within your lifetime.

It is so wild the potential of this radical transitionary time into absolutely scarce money. Part of me is literally in disbelief that it's even possible to do this, but I don't logically see any failure of the bitcoin system... Incredible times... Hold.... Take care of your health and longevity. Set up multisig custody for large stacks... Educate your loved ones as much as is possible...

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143 sats \ 8 replies \ @realtrader 31 Jul 2023

Right now I'm getting ready to go to work, I confess that I would love to stay here learning and creating content to accelerate my learning, in addition to the simple consequence of developing my ability to stack more and more sats for the future of my family...

But your text made me calm, I'm kind of anxious and every day I think to myself...

'Will I get my place'

But after reading your post I am absolutely sure that 'it will take time'...

My fear is that there will be a slow adoption and suddenly a hiberbitcoinization that 'leaves me out'.

I actually wanted to be two people lol

One of these two people would go to work and the other would stay here +12hrs a day learning and stacking

100 sats \ 5 replies \ @sourcecreator OP 31 Jul 2023

Yeah it's tough to make that time and energy allocation - work vs learning. Personally, I found bitcoin to be way more important to learn about. If you're working, it is probably for money - it behooves you to study what that is (bitcoin) and I also found a lot of value in studying how the current system works (debt). I used what I learned about the debt system to get paid. See my post #216497

Either way, if most of your time is spent working, you should have little anxiety at all if you are all-in bitcoin. That changes everything. Just get to all-in. Then you can fucking work as much as you want because you're just in for the ride. If you aren't all-in then you are shorting bitcoin - I would be full of anxiety then. Desperately trying to liquidate my assets for bitcoin until I'm all in.

Then just hold baby. Work, continue to stack your savings, spend time with family. Continue learning more

501 sats \ 4 replies \ @realtrader 31 Jul 2023

Thanks, I'll read it on my lunch break.

yes I am working because I need to survive, rent, food etc...

my goal is to live exclusively on bitcoin, at the moment I'm transforming all my energy into fiat and soon dps into sats. unfortunately I spend a good portion of these sats to 'survive' (I'm Brazilian and I'm 27 years old, I earn a measly 8 BRL per hour, converted into USD it's less than 2 $ , but I'm not complaining, thank you Mr. Nakamoto because without With bitcoin I would have no incentive to work and I would probably be doing shit for a living)

My wife and I opened a beauty salon, even yesterday we sent it to be registered on the btc maps, there we accept bitcoin as a payment method, anyway...

As I said, after reading it I'm sure I'll get there, I hope to work in fiat exchange for two more halvings while I stack sats and develop the best strategy for my security and storage, after that I just want to live enjoying the fruits of proof of work

100 sats \ 1 reply \ @sourcecreator OP 31 Jul 2023

Yeah man that post about using debt can be really valuable for you. The key is to never pay any "debt" to credit card or bank companies. Learn how to write/use affidavits and a Conditional Acceptance that asks the company to prove they did not create the money out of nothing using your promissory note.

I would do what I describe in that post in order to create a big stack of bitcoin from the "loans" to hold now. Then continue working, making the salon business, etc, even if earning little, but living on just what you earn even if it is really hard. You guys are so young. Save the bitcoin (don't spend it) as much as possible for many years. Your life will be drastically different the longer you hold it for you and your family.

0 sats \ 0 replies \ @l0k18 31 Jul 2023

As someone born into the australian monetary policy system, right as I was entering the workforce they instituted a form of early social credit score system at my school, which riled me up so bad I basically stopped paying attention in the last semester of senior highschool, wound up failing everything except IT, which I aced all the exams, just didn't do any assignments.

And then on top of fucking around with my ability to get into CS, which was where I wanted to go, after I get out, the whole AU government is running a whole suite of policies that are designed to limit people's access to the employment market, to ensure a constant unemployed group that is subsidised by welfare in order to keep wages up while overall reducing wage costs to employers.

Or in other words, they were fighting inflation by keeping the most marginal entry level workers, mostly recent school leavers, permanently unemployed so the business lobbies keep dishing the cash out to the politicians reelections.

Or in other words, they MEANT me to not have a job, and I wound up a drunk lost in eastern europe and got to spend a year as a prisoner, to boot, and I am in my third round of attempts to secure adequate income, and nearly 50 years old now, pretty fuckin dreadful. Thanks Paul Keating and Bob Hawke you cunts.

I did my best for a bit over a decade trying to operate my own personal service business as a computer technician but in the end the cost of transport, thanks to government interference, was beyond what I could earn in my work, because I couldn't reach my customer base. I used to get 1% turn-around from my personally delivered ads. Spent AUD$700 one time for a 5000 flier delivery, and got zero, (0) responses, which should have been at least 50 new customers.

The very first moment I am searching a job in Bulgaria, before 2 weeks of spending about an hour a day sending out applicaitons, I walked straight into a job. First time was a call center, yes, pretty high turnover. Second one was call center but technical support.

Completely the opposite of australia.

My advice to young people is, if you find yourself excluded, and these days, this can be for being white, from higher education and opportunities in tech... Leave that shithole place and find somewhere better. Even if it requires you to learn or polish up a second language.

There is nothing worse than wasting your whole 20s and 30s with no income and half that time homeless or so fuckin bored you end up falling into drug addiction.

20 sats \ 1 reply \ @Athena_Alpha 1 Aug 2023

Hundreds of sats to you 🧡. Keep learning ✊

0 sats \ 0 replies \ @realtrader 1 Aug 2023

thank you my strong partner

0 sats \ 1 reply \ @sudonaka 31 Jul 2023

When you figure out cloning let me know

0 sats \ 0 replies \ @realtrader 1 Aug 2023

hahahaha ok ;)

210 sats \ 3 replies \ @l0k18 31 Jul 2023

To be fair, it's a pretty nasty financial system that makes it so that only the top 10% of entrepreneurs ever make enough to keep doing it.

As a simple technician or artist, I should not have to struggle to keep the value of my surplus income. That's the problem Bitcoin solves.

And everyone knows the reality: the majority of "successful entrepreneurs" these days are just specialists in feeding from the general revenue, and nothing to do with serving customers better, cheaper, or faster.

131 sats \ 0 replies \ @sourcecreator OP 31 Jul 2023

Indeed. This is because of the massive overhead, taxes, and ultimately the INTEREST that must be paid on debt-based scam money from the FED that businesses/entrepreneurs use in their fiat economy. It should be EASY to make success and wealth in business, if we have DEBT-FREE MONEY and freedom from government taxation/enslavement. Bitcoin fixes this.

0 sats \ 1 reply \ @tomlaies 31 Jul 2023

The top 10% is a pretty bold statement. Number is higher probably

10 sats \ 0 replies \ @l0k18 31 Jul 2023

You mean lower, and that even less than 10% run businesses that don't end up broke before 5 years.

That's fiat for you.

Of course you can't make a living if you wind up paying over 60% of your income indirectly or directly to taxes. And then 30% will be eaten away by inflation.

It's incredible the audacity of the people doing business under the cloak of government these days. I mean, how can a society have any justice or wealth when such rampant thievery is legalised??? They aren't just after a few percent of your profit. They want everything, and if you'll give up your first born they have that too.

22 sats \ 5 replies \ @garyKrause_ 31 Jul 2023

Hodl. AND build a business.

80 sats \ 3 replies \ @garyKrause_ 31 Jul 2023

I say this because if you have no value to provide another, you’re a net drain on society. Even if you have money, you need to provide value to maintain that money over time. I think is especially true on a bitcoin standard.

0 sats \ 0 replies \ @l0k18 31 Jul 2023

If the money wasn't having its value syphoned up by rentiers and usurists, you wouldn't have to work just to compensate for all of that inability to count on the cash being worth something when you've got something worth spending it on.

If you can't even have a two week holiday every year your money might be robbing you.

0 sats \ 0 replies \ @tomlaies 31 Jul 2023

Don't you think people in day jobs instead of building their own business can be a net gain for society?

0 sats \ 0 replies \ @sourcecreator OP 31 Jul 2023

exactly. As I included in the post, if you want to PRESERVE your stack, and hodl all of it for 20+ years, then you HAVE to work in order to meet your monthly personal expenses. Otherwise you would be spending your stack the whole way. By working enough to at least cover your expenses, you are living below your means, and providing value through proof of work.

0 sats \ 0 replies \ @sourcecreator OP 31 Jul 2023

this is the way. But this post I just wanted to give a baseline comparison to illustrate the impact of very long term hodl for younger generation with significant, all-in level holdings.

10 sats \ 2 replies \ @TomK 31 Jul 2023

Interesting thoughts. Meanwhile I skipped the educational part - it costs me my nerves. But at least my close family members are Bitcoiners and 2 friends of mine that I could convince. The others should be having fun living 100% in Fiat Clown World

0 sats \ 1 reply \ @sourcecreator OP 31 Jul 2023

yeah the educational part is not needed. People will learn on their own when bitcoin is topping $1 million and onward. Fuck em, you can't handhold the whole world lol. Those who had the intelligence and the will to learn early, and the balls to place their net worth in such a nascent asset will reap the rewards and experience what I spoke about in the OP.

10 sats \ 0 replies \ @TomK 31 Jul 2023

Thank God I'm in spain! 3-4 weeks in the german NPC paradise are enough. They will learn it the hard way.

0 sats \ 0 replies \ @Solomonsatoshi 26 Oct

Or, Chinas already operational CBDC Yuan, DCEP could be the dominant global reserve currency in 20-30 years.

0 sats \ 5 replies \ @legxxi 31 Jul 2023

You have to be extremely hard working already today in order to stack a full one. Fiat times and inflation 🤡

0 sats \ 0 replies \ @tomlaies 31 Jul 2023

Lol, a full Bitcoin isn't even much money 🤡.

Plenty of people from lower middle class can already afford. Maybe not the real lower class that's jumping from blue collar job to blue collar job. But the overwhelming majority of people in the first world could if they wanted to

0 sats \ 3 replies \ @sourcecreator OP 31 Jul 2023

not exactly. anyone with balls and good credit can increase the limits on the credit cards and simultaneously take out personal loans as big as they can and ape the fuck out of bitcoin with all of it, and simply never pay anything to the banks or credit card companies.

Your credit will go to shit, but you can continue to work/earn money and use debit cards for fiat payments from that point on while you hold your new huge stack of bitcoin. Your credit cards would be maxed out so moving forward it's cash, debit, or bitcoin if accepted.

And it's not immoral or stealing because the credit is created out of thin air from YOUR promissory note (you are the true creditor), the system is deceitful scam that people don't understand at all.

Most plebs could multiply the size of their stacks if they had the balls to do this.

To top it off if they have the time to study how to write a conditional acceptance and send that to the banks and credit card companies and/or debt collectors they would be protected from any possible lawsuits that could arise from debt collectors.

Futhermore - what's more valuable: having a perfect credit score, which resets after 7 years anyway if you do this, or stacking multiple full bitcoins using that credit score by blowing up some credit cards and personal loans? You wouldn't be able to get any further/new loans afterwards, unless you can get the stuff off your credit report somehow, but who cares? You just stacked generational wealth. Rent for a few years if you can't get a mortgage until your credit resets. You shouldn't be buying real estate with bitcoin at these prices anyway.

0 sats \ 1 reply \ @legxxi 31 Jul 2023

It’s immoral and stupid and you know that. That kind of mentality would not lead us to hyperbitcoinization.

0 sats \ 0 replies \ @sourcecreator OP 1 Aug 2023

you simply don't understand how the banking system works. If you did, you would see that you are the creditor in the situation and you are the creator of "money" through your signature on a promissory note, which creates a negotiable instrument as per UCC 3-104. Such instruments are equivalent to federal reserve notes, which are also debt obligations/promissory notes/contracts, not money.

"If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry."

0 sats \ 0 replies \ @nemo 31 Jul 2023

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