If you go all in on BTC, how do you grow your wealth? \ stacker news ~bitcoin

If you go all in on BTC, how do you grow your wealth?

1203 sats \ 43 comments \ @cryotosensei 28 Mar bitcoin_beginners

Previously, I asked about whether BTC is your one and only. While some Stackers make use of retirement funds and other asset classes, others go all in on Bitcoin.

Yes it took me several months to ask the obvious, but here’s my question: if you are living the BTC Standard 💯, how do you grow your money? After all, you can’t stake your BTC like how you stake shitcoins. (Not that it’s worth it anyway.) And running a node isn’t exactly the most profitable endeavour.

Waiting for the first Stacker to accuse me of being from Fed xP

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1257 sats \ 0 replies \ @DarthCoin 28 Mar

Bitcoin is savings technology. You spend ONLY on things you REALLY need. You always make sure you earn more than you spend. In time, your sats could buy more stuff, because is scarce and more people will want it.

On the other side, fiat is spending / debt technology. You are pushed to be forever in debt, so you cannot save anything. Fiat is forever debt, forever consuming for things you don't really need.

STOP thinking of your "wealth" in fiat terms. This is the biggest barrier that many noobs still do not want to understand. Don't try to fit Bitcoin in existing system. Adapt to how Bitcoin works, you are the one that must change, not Bitcoin. If you are not capable to do this change, you will simply die in misery, like many shitcoiners full of fiat mindset.

243 sats \ 6 replies \ @orthwyrm 28 Mar

You grow it either by:

a) Working for it b) Taking calculated risks (lending it out, making trades, etc.)

I don't believe "risk-free return" can exist in a free-market system such as Bitcoin.

99 sats \ 4 replies \ @m00ninite 28 Mar

You can get paid for doing coinjoins with joinmarket. I'd call it damn close to "risk-free". Only risk is hot wallet risk

0 sats \ 1 reply \ @cryotosensei OP 31 Mar

Thanks for this! Will look into it. How much do you have to put in to get 30k sats every month, if you don’t mind sharing?

0 sats \ 0 replies \ @m00ninite 2 Apr

It's a non-trivial amount, but you can compensate by using a longer locktime. I think my success comes from setting a 4 year locktime

0 sats \ 1 reply \ @orthwyrm 28 Mar

Interesting. What rates do you get? I've never tried it.

50 sats \ 0 replies \ @m00ninite 28 Mar

It really depends on how much you put into the wallet and how big of a fidelity bond you make. It's not a lot, but it's not zero. I make maybe like 30ksats a month.

0 sats \ 0 replies \ @cryotosensei OP 31 Mar

calculated risks

Thanks for this. Made me realise that the notion of passive income is quite unattainable for BTC haha

730 sats \ 1 reply \ @Putrick 28 Mar

You work.

0 sats \ 0 replies \ @pj 28 Mar

Exactly. Continue to hone your skills so you can earn more then you previously did.

304 sats \ 0 replies \ @jeff 28 Mar

This mindset, is one I personally struggle to shake - but the logic that you have to work/take-risk twice for your money, is an artifact of fiat. It makes sense you have to work/take-risk once, to earn wealth, but working to preserve your purchasing power is a little messed up.

162 sats \ 1 reply \ @oliverweiss 28 Mar

0 sats \ 0 replies \ @cryotosensei OP 1 Apr

I see that this message is going around! Haha. Darthcoin posted it too

21 sats \ 0 replies \ @nickfostphone 28 Mar

Mining

Trading labor for bitcoins

21 sats \ 0 replies \ @megaptera 28 Mar

Working and create value for others?

110 sats \ 2 replies \ @carlosfandango 28 Mar

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35 sats \ 1 reply \ @DarthCoin 28 Mar

Shitcoiners always have deep inside their mind the "yield" or "passive earn" that was promoted for several years. Putrid fiat mindset.

33 sats \ 0 replies \ @carlosfandango 28 Mar

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49 sats \ 1 reply \ @renielbarretoherrera 29 Mar

I m almost sure i will not be a bitcoin millionaire but i m SURE i will not be a fiat millionaire.

0 sats \ 0 replies \ @cryotosensei OP 31 Mar

I like your principled nature

49 sats \ 1 reply \ @PRA3S3NT1A 28 Mar

Anything that you invest in will have a worse ROI than BTC. For example you could buy Coca Cola stock which may not be too volatile and pays dividends however you would be better off if you just buy BTC directly. Passive income is a nice thing however it pays in shitty fiat.

0 sats \ 0 replies \ @cryotosensei OP 31 Mar

TIL passive income is so associated with the fiat mindset that some Bitcoiners just don’t want to be bothered with it haha

49 sats \ 1 reply \ @BitcoinIsTheFuture 28 Mar

You save in the hardest money ever created.

0 sats \ 0 replies \ @cryotosensei OP 31 Mar

Hard truth

49 sats \ 2 replies \ @KLT 28 Mar

Everyone has fiat expenses where there’s a 30 day or so period where you’re holding fiat until your bill is due. What if instead of holding fiat, you allocated that money to btc and let it sit there for a couple of weeks? Then once the fiat bill is due, exchange your bitcoin for cash.

Ideally your bitcoin has risen in value over the few weeks and then when the time comes, you’re exchanging LESS sats for same amount cash, then you slowly see your expenses, when priced in bitcoin get lower.

**There are A LOT of caveats to this but I’m just keeping it broad.

30 sats \ 1 reply \ @cryotosensei OP 31 Mar

Good call. The thing is, the crypto payment firm takes a 2% service fee if I pay for my bills with BTC. So I must see if BTC has appreciated sufficiently in value for me to recoup this fee haha. But it’s early days for Singapore yet. I m sure this service fee will go down if more n more Singaporeans pay for our bills with sats

0 sats \ 0 replies \ @KLT 4 Apr

That makes sense. If you have close friends and family that are stacking sats, another way is to exchange your BTC that’s allocated for bills for fiat if they’re also stacking sats. Everyone wins.

49 sats \ 1 reply \ @grayruby 28 Mar

If you are being paid in fiat. You work hard, earn fiat, pay all your expenses and sweep the rest into bitcoin. It increases your purchasing power over time, hence your wealth.

If you are paid in bitcoin. You work hard, earn bitcoin, pay all your expenses (might have to convert some to fiat to do this but hopefully you have most of your expenses arranged for bitcoin payment or buying gift cards with bitcoin to pay most of your expenses), save the rest, it increases your purchasing power over time, hence your wealth.

Long term there will be opportunities to lend and borrow with bitcoin, to invest in private companies and startups but where we are in the adoption phase none of that really makes sense right now because unless you hit the next Uber doing start up investing you aren't likely to outperform simply holding bitcoin.

50 sats \ 0 replies \ @cryotosensei OP 31 Mar

Nicely put. How do you adjust your mental frame when BTC goes through a dip n you have to expend more sats on something than you normally would?

100 sats \ 0 replies \ @DarthCoin 28 Mar

I don't understand why this question was posted into "bitcoin_beginners"... This question will not help in any way any beginner, but more confusing.

0 sats \ 0 replies \ @TRUTHMAN45 28 Mar

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0 sats \ 0 replies \ @ama 28 Mar

I still have regular income in fiat, which I convert into Bitcoin all the time.

Also, I keep a small part of my BTC as BPro, which gets a small free leverage on BTC price from the minting of Dollar on Chain (DoC), the Money on Chain stable coin pegged to the USD and backed by Bitcoin on the RSK Bitcoin sidechain.

0 sats \ 0 replies \ @Bitcoiner1 28 Mar

Just wait.

Time will tell...

0 sats \ 0 replies \ @CheezeGrater 28 Mar

The way I see it:

You're either saving in Bitcoin, which should preserve your purchasing power, or at best will massively increase your purchasing power as it is an undervalued asset...

...or you are lending out your capital to get returns on it, here most of your options are fiat-denominated.

Bitcoin-denominated lending is effectively shorting Bitcoin - not something I would like to be on the lending side of.

0 sats \ 0 replies \ @TheBTCManual 28 Mar

I see it as savings tech but if you feel what you're sitting on cannot be drawn down or the annual CAGR isn't offsetting your consumption you've got to either sell your labour, fund others labour by starting a business or buying into a business that has cash flow but with all of that comes risk

No pretty way to slice it really

0 sats \ 0 replies \ @030e0dca83 28 Mar

I work on r gular work. Get paid with local currency. Buy food, clothes, rent with this wage, all extra fiat sell to buy couple thousands sats and wait when people around me start to use sats as local currency

0 sats \ 0 replies \ @justBrian 28 Mar freebie

your labor / business needs to be cashflow positive in comparison to your expenses over time to grow your wealth...btc is irrelevant to this question imo

0 sats \ 0 replies \ @renata_bettys 28 Mar freebie

Eu sigo investindo e esperando subir cada vez mais, vivo na simplicidade.

0 sats \ 0 replies \ @DiracDelta 28 Mar

Wtf? What a retarded question.

You work more than you consume or take actual risk with investment and no one gives you free money. Is that really so unimaginable you had to make an entire post?

49 sats \ 2 replies \ @Bell_curve 28 Mar

Trading options or derivatives on MSTR?

0 sats \ 0 replies \ @Bell_curve 1 Apr

Betting on micro strategy stock

0 sats \ 0 replies \ @cryotosensei OP 31 Mar

Oh what’s that? Could you elaborate more?

21 sats \ 0 replies \ @danieltapa 28 Mar outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.