Savings.
Think about that word. Savings rescues people from a plight or a pickle. It's preparation for the unknown. It's a way to account for the bad things that may happen.
Savings is also a way to prepare for something you do want. It's capital accumulation and funding for your goals.
Too many people don't know the power of savings. But really, it's about having a purpose, a dream. A goal has no power if you're not working toward it. And savings is a measure of how close you are to that goal.
The depressing thing about fiat money is that it inflates, debasing your savings, moving you further away from your goals. A third party called the central bank has the ability to steal from your dreams and purpose. And what is life without some purpose? It's a zombie existence where the goal is to stay alive, at whatever cost. In a very real sense, fiat money debases your life.
So we invest, trying to clear that ever-present monetary expansion/hurdle rate that will offset the theft from inflation. But that's a job onto itself. Managing money is a cesspool of rent-seeking and unless you do it yourself, a lot of the value you accumulate leaks to the Cantillionaires.
Bitcoin is freedom from this system. But more importantly, Bitcoin gives you back your savings, gives you back your goals, dreams and purpose because it doesn't leak.
Save and build your character so that when you have enough to pursue your dreams, you have the courage to jump.
Save and build your character so that when you have enough to pursue your dreams, you have the courage to jump.
Wonderful, well said!
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Dittto
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Managing money is a cesspool of rent-seeking and unless you do it yourself, a lot of the value you accumulate leaks to the Cantillionaires.
I just heard a particularly shady ad on the radio pitching one of these money management seminars. "Come party with us! Free buffet! Live music! DJs! And hear from our financial experts who will help you on the step to financial freedom!" ๐Ÿคฎ
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Free buffet? Sounds tempting lol
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I guess you could go, enjoy the festivities, and ignore all the sales pitches. But personally I'd probably feel kinda sad being there, lol, for all the people about to get scammed
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Back in my younger days I did this for a timeshare presentation in Vegas and that is exactly how I felt sitting in the open pitch room with the lot of people. At various times throughout the pitch, they'd ask you to raise your hand if you were interested and then they'd whisk you away into a smaller private room to put the screws to you.
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๐Ÿ‘๐Ÿ‘ the belief is that bitcoin will replace bonds as a savings vehicle. It is the best way humans can save ever created. Letโ€™s just hope humans donโ€™t corrupt it
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Who create bonds? What is the meaning of the word "bond"?
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I don't believe in savings because you can just take other people's VC money instead. Or have access to credit cards.
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this could be a very good title for the next TBB article
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Cantillionaire doesn't believe in savings.
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Adults don't believe in Santa Claus
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Well said!
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For now I am only saving Bitcoin and I only use Fiat capital to generate more capital and continue saving Bitcoin
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That is the only way to save some value for the future. DCA what you can weekly/monthly and you will be surprised what that looks like in just 2-4 years
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Did you think that savings in the form of money are essentially just a promise from other people to give you something you want in the future for the good things you do now or did in the past? And, as with any promise, it's based on some kind of social contract. And, as with any contract, it requires some punishment mechanism in case of violation of contract terms. And, traditionally, institutes like governments, courts, judges, churches were used to implement this. In the case of Bitcoin though, this promise is based on the belief of many people that Bitcoin will grow in price perpetually (or, stay at the same value at least). And if, for some reason like a bug in software, targeted attack, or invention of some kind of better cryptocurrency, enough people will lose this belief - you will lose these promises too. My point is that Bitcoin is a great invention, but its natural purpose is a payment means, not a saving means. It's just a temporary but pleasant side-effect that you can effectively store value using Bitcoin now. As for long-term and reliable savings, I think it's better to use something based not on a belief but on a natural demand, like commodities, businesses, and education.
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This! Iโ€™ve always been a great saver, ok investor, horrible trader. This is why I love Bitcoin. I save in it daily and stack sats to cold storage!
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There are some people who believe the winner is the one who dies with the most debt possible. Because they'll never have to pay it back. You can't take your wealth with you when you die. Anything you leave behind is your loss. You have one life, and when it's over, it's over.
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Yes, a future oriented mindset is great.
Bitcoin allows you to simply store your value today for a better future.
Fiat on the other hand is designed for a present oriented mindset, spend right now or it will be worthless in the future.
You can grow with Bitcoin, or remain stagnant with fiat.
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This is such a wonderful explanation!! I love every word. I'm saving towards my goal!! ๐Ÿ˜‡
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Unfortunately, the people that most need to hear and understand this message are not getting it.
But this is a very interesting observation โ€“ that truly "saving" has not actually been possible, and that as a consequence, everyone has been forced to become an "investor".
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I like the perspective of savings in bitcoin vs fiat where you respectively move closer and further away from your goals.
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Very true. There is something I have wanted to buy for some time but I've been so focused on accumulating bitcoin I have deferred saving for it. Decided this week to set up a wallet to save for it. Bitcoin is for saving, and spending. Fiat is where your sovereignty dies.
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There is nothing like a risk-free passive savings. FIAT has (well-known) tradeoffs. Bitcoin has its own tradeoffs. In general, world (and your money) are decaying into chaos. People must accept that preserving their purchase power (aka savings) is their second job. Bitcoin is great because it is pure monetary premium (no utility), digital, scarce, uncensorable. Bitcoin is awesome. But many things could go wrong for Bitcoin.
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It's the best way to leave some future for our children
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