Hello, I hope you are taking advantage of Semana Santa 🕊️

Looking to improve your Spanish proficiency? The White Rabbit 🐰 is almost here, and we are ready for another adventure down the Bitcoin rabbit hole.

We're pleased to present **21 Days of Bitcoin** or **#21DiasDeBitcoin**, the course on this new technology delivered by email directly to your mailbox.

Visit https://VEINTIUNO.world/21diasBTC to learn more and let us know your thoughts



🐇 Discover 21 Días de Bitcoin - the Spanish version!

VEINTIUNO

# Operation Saylor Episode - 1/120

Hi there, welcome to Operation Saylor series.

I have decided to take a loan to invest in Bitcoin. I will make a series of monthly updates here to track the evolution of this operation I have dubbed Saylor (in honor of [Michael Saylor](https://twitter.com/saylor), whose bold bet on Bitcoin and willingness to promote it where strong inspirations for this adventure).

My goal with sharing this experience is to allow everyone to learn whatever can be learnt from my plan and execution. I draw inspiration from [Jamespunk's great blog on his bitcoin DCA path](https://er-bybitcoin.com/), which was and is a great example of how a real life, first person narration can be very instructive. I hope this series can fulfill a similar role for this different investment approach.

As this is the first episode, I'll provide some context so that you understand better this and future updates.

## The Operation

On July 2022, I took a loan with my usual bank. This is an uncollateralized personal loan with a fixed amortization schedule. The main figures:

- Principal: 33,000€
- 120 installments in 120 months (10 years)
- APR: 5.99%, APY: 6.16%
- Each installment will be of 366.20€
- Total interest paid will be 10,944.33€
- Early amortization penalty of 1%
- No opening costs

As this loan has no collateral, there is no margin call or liquidation of any sort. The loan is completely orthogonal to whatever the evolution of bitcoin's price is.

During the first six months, my plan is to swap 5.000€/month into bitcoin. I do this instead of simply lump-suming everyting today to softly minimize the risk of picking a terrible entrypoint.

After these six months, I will have a bitcoin stack of a certain amount and around 1.000€. From that point on, the plan is to:

- Pay the installments each month.
- Whenever the € stash goes very low, sell a bit of bitcoin back for € to pay for the next installment. Goal here is to keep as much value in bitcoin as possible and only go back to € tactically to cover the installments.
- Repeat until 10 years have passed and the loan is paid backed.

As time passes, two scenarios can take place:

- In the SHTF (shit hits the fan) scenario, the bitcoin stack of Operation Saylor goes dry before the 10 years have passed and I am left with 0 btc and some outstanding debt with the bank. I will be forced to keep paying the installments from my personal pocket and Operation Saylor will have turned into a net negative for me. This could happen both in case a black swan completely destroys bitcoin and its value, or simply because bitcoin's market value doesn't go up fast enough to make a net return.
- In the Moon scenario, I manage to pay all the installments by taking small bites of my bitcoin stack and I still have some amount of btc left in the end. If this is the case, I will have successfully earned value with my bet, and I am left with a nice stack of some unknown value. This would happen in a scenario where bitcoin behaves the way it typically has for the past 10 years (or with a slightly watered-down behaviour in terms of both return and volatility, but still trending upwards) and I get lucky with the volatility in the early months and years.

My hope is that Moon scenario will happen, but I am very well aware that SHTF scenario is a serious possibility.

## Are you crazy stupid? Never borrow money for investing

I am aware that there is a not negligible probability of losing several thousands of euros with this operation. But, after carefully judging, I think there is also a significant chance of getting a great upside. After playing with different simulations and hypothesis, I decided that the expected outcome looked net positive and decided to pull the trigger.

I am also taking a calculated risk. Given my personal finances and life circunstances, the SHTF scenario would be a nasty blow but not a death sentence. Even if I get hacked on day 1 and lose all the money, I still expect to have a plate on the table every day and a roof over my head.

## Why make it a series

There are several motivations to doing this.

- Explaning and documenting my plans helps me reflect on them deeply. It's a bit like a peer review, with the only difference I am reviewing my own plans.
- As discussed before, I find personal, real life stories of bitcoiners and their actions fascinating. Macro
  environment analysis, papers, technical and economics books,... They are all great reads. But I think sometimes we also need simple stories from regular people like us, with all the crisp of the real life and down to earth practical issues and details. Bitcoin is, after all, a grassroots, bottom-up phenomenon. It is the small actions of you, me and everyone else which compose the emergent behaviour of the network.
- I think that, on most forums and communities, there is a dogmatic rejection to any kind of idea related to borrowing money for investing. I am the first one to agree that, for most people, most of the time, it is a terrible idea that should be avoided. But it is also my belief that under the right circumstances, it is a valid strategy. And so I am slightly pissed off because this automatic, parrot-like "NeVEr BorRoW tO INvEsT" comments hijack any kind of honest, open-minded debate around this option. I hope that these series can counterbalance this and get people discussing in a calm and thoughtful manner the possibility of doing something similar to what I am doing. If the angry mobs hijack my posts anyway, at least I hope that whoever is curious about the outcomes of taking this seemingly crazy and bonkers course of action can ignore the deniers and simply read my story.

## Why not simply DCA with a part of your salary isntead

I am. This operation happens on top of my already regular DCA schedule. So you could say I am doubling down.

As time passes, comparing Operation Saylor to having DCA-d the amount equal to the paid installments will be an interesting analysis.

## So should I do this as well

The answer that most probably fits your circumstances is no.

But, depending on your personal finances, risk aversion, other investments and what kind of loans and conditions you have access to, there is a chance that borrowing to invest might be a suitable option for you.

I invite you to run your own analysis and put a lot of thinking into this decision. During the series, I will share my own train of thought and the numbers I ran before pulling the trigger.

If you reached this far, thanks for reading. I'll be happy to discuss further in the comment section. You can find below the numbers that I will be posting regularly. I will also post some thoughts/ideas/whatever relevant comes to mind on each episode. But for this month I will close here. I already stole enough of your time and attention.

---

## Stats

- BTC stack: 0.2083 BTC
- € stack: 28,000 €
- Current total value in €: 32,761 €
- € into BTC: 5,000 €
- Paid back to bank: 0 €
- Outstanding debt: 43944.33€
- Installments to go: 120



Operation Saylor - Episdoe 1/120

pillar

🛍️ GoodStr @ 🟪Nostrica + 🏝️Hackatons Pitch

ERRATA CORRIGE: Link https://makers.bolt.fun/story/goodstr-nostrica-hackatons-pitch--732

Guide - Public BTCPayServer with Umbrel & Tailscale

orangesurf

I talked to 21 whole coiners for advice about accumulating 1 full BTC ... 

Here are 21 lessons i leared:

---

# 1. Self custody

Always. Send your BTC to cold storage. Don't hesitate because of high network fees when mempool activity is high. Rather pay 10% or more to secure your coins than risk loosing 100% of a cosiderable amount.

# 2. Back up well

Restore a wallet at least once. Make sure you know how to get back your coins in a worst case scenario. (Also make sure your heirs are able to do it when time comes.)

# 3. Never try to time the market

DCA. Set it and forget it. Monthly, weekly, by-weekly or daily doesn't matter. Choose what best suits you. Do this for the majority of your BTC allocation. You can not time the bottom. Period. (But you can have a little pile of FIAT to buy dips when they occur.)

# 4. You can not time the top either

Never sell the majority of your Stack. Take a little profit if things go parabolic to reward yourself but always keep your main stack intact. It can be hard to get it back. And it will only go up with time. HODL and understand what you own.

# 5. Keep emotions out

Greed and fear are the main factors for people to get wrecked. Slow steady purchases, even tiny ones, all go to building a stack.

# 6. Never use leverage

Just don't. No, not even if BTC is below 10k. Make sure every sat you own truely belongs to you.

# 7. Every sat counts

Even if it's small amounts, just keep dca-ing and stacking sats. Little pieces add up. 0.001 BTC = $25 at the time of this writing. Do this 100 times and you have a tenth of a BTC.
If you have very little FIAT, stack free sats. You can:

- use faucets (like [Heads or Tails Game](https://www.claimbitcoin.fr/))
- do tasks (like [microlancer.io](https://microlancer.io/))
- play games (like [Bitcoin Miner](https://blog.zebedee.io/bitcoin-miner-game/))
- shop with services like [lolli.com](https://www.lolli.com/) or [foldapp.com](https://foldapp.com/)
- listen to podcasts (with [fountain.fm](https://www.fountain.fm/))
- or be active and provide value in communities like [nostr](https://nostr.com/) or [stacker.news](https://stacker.news)

Remember: Faucets used to give hundreds of Bitcoin per day. Now it's 5-250 sats 10 years later. In 10 years it may be 1-5 sats.

# 8. Don't go all in

Keep FIAT to survive hard times without being forced to sell BTC. (for example 6 months of monthly spending)

# 9. Enjoy life while stacking

There is only one thing that is more precious than Bitcoin. **It is lifetime**. Stack sats, but also stack moments. Be present and enjoy life. Every day. No amount of BTC can ever buy back lifetime. Remind yourself of this often.

# 10. Don't forget yourself

Always have a little fun money to maintain hobbys, traveling and to treat yourself. Otherwise you might burn out quickly.

# 11. Involve your significant other

Make sure he/she knows the reason why you do what you do. Otherwise you risk burnig out him/her too.

# 12. Automate and relax

When you check you portfolio ten times a day or more think of automating things. Don't trade lifetime and serenity for small gains.

# 13. Don't do shitcoins

Most altcoins never reach their ATH again. BTC and BTC only.

# 14. Stay humble

Never get lured by offers that promise yield in exchange for holding your BTC. FTX was a recent example of how that can end.

# 15. You lost your keys in a boating accident

Never share how much Bitcoin you own. Better yet, don't share that you own any at all (exception: rule #11). The less is known about you having BTC, the less risk. Also consider buying non KYC. For example with [robosats](https://learn.robosats.com/). 

# 16. Don't rush. Be patient

It is a marathon, not a sprint. Time is on your side. You already own Bitcoin. **You won**. It isn't a race like with FIAT where you have to fight inflation. You preserve wealth.

# 17. Increase your FIAT earnings

Learn profitable skills to increase your buying power and generally grow as a person. Even if you loose all your wealth, nobody can take away your skills to accumulate it again.

# 18. Don't compare

Every stack of BTC is better than no stack of BTC. And even if you are a whale: there will always be a bigger fish somewhere in the sea ...

# 19. You don't need 1 full BTC

This was huge for me! The urge to have one full BTC is very FIAT minded thinking. Goals are cool but: 

**21 million BTC / 8 billion humans in the world =0,00262500 BTC**

And not even that is possible because of the 1,1 m BTC wallet of Satoshi Nakamoto and lost coins. You can find out the exact amount every individual on earth could possibly own at [satoshisperperson.com](https://satoshisperperson.com/).

Not everyone needs a whole coin. About 225.000 sats = your little block of Bitcoin. ... That's roughly $55 at the time of this writing. Got that? Congratulations! 99% of people are still on zero. Safe your share and then slowly add more every pay check.

# 20. Change perspective

You can change settings in your wallet to display value in sats rather than BTC. This liberates from the feeling of shortage and the urge to fill that full BTC. It opens up the feeling of gratitude and abundance.

# 21. Always learn

Keep educating yourself about Bitcoin. The rabbit hole is deep ...

---

### Thank you!

Thank you wonderfull people who helped me gather those tips. I chose conciously to not give personell credit in this post because of rule #15 =)

### Check out Nostr

Huge shout out to the [Nostr](https://nostr.com/) protocoll and all the devs involved. Without an anonymous network like this it would have been extremely hard if not impossible to gather that much information from real whole coiners in that short amount of time. If you haven't tried Nostr yet, consider giving it a try. It's an extremely positive community where value flows like Bitcoin in the early days.

### What have i missed?

Do you agree with these tips? Did i miss any? Please let me know and help refine this set of rules so we can breed more an more whole coiners over time ... or let's rather call it 'satoshi millionaires' (see rule #19 ;-)

*P.S. Feel free to tip me some sats or share this post if you find it helpful. Working on my own little stack too ;-)*


21 Rules to Become a Whole Coiner

noerms

Many people now want a LN address, especially for NOSTR and for other use cases.

Some are concerned about custodial ones or simply want their own fancy LN address.

### Why?

I personally use many LN addresses, public ones and private ones, custodial and non-custodial. All depending the use case.

I use public ones, custodial, for public stuff, where my real identity is not revealed. Almost all of these custodial do not require a full KYC so is not a big deal using them. You just have to move the funds out, to your own private wallets wherever you consider is a good amount.

I use private LN address for PRIVATE stuff (private businesses, private communication with people that really know me, family, friends etc), stuff that is NOT PUBLIC.

People should learn to make the difference between public and private damn it! Seems that many still don't know it.

### How to achieve such thing?

You have many ways:

1. Using a federated server, in case you do not want / can't run your own LNURL private server.
[BridgeAddress](https://bridgeaddr.fiatjaf.com/) from fiatjaf is the perfect solution.
Why? Because:
- is offering a lot of connection types directly to your node or other funding sources.
- easy to setup, in max 10 min is functional (depending on your DNS provider).
- can be used with a Tor or ZeroTier node

Yes, you need a bit of trust in fiatjaf, for handling your we requests. But if you do not know who is fiatjaf in Bitcoin world, I don't know what are you doing here...

2. Using your own LNURL server.
And are many implementations out there.
Please consult the documentation page of https://lightningaddress.com or use one of these:
- https://github.com/nbd-wtf/satdress
- https://github.com/SatSale/SatSale
- https://github.com/niteshbalusu11/rustdress
- https://github.com/hieblmi/go-host-lnaddr

3. Using LNbits as LNDHUB and LNURL server provider
- https://github.com/lnbits/lnbits/wiki/LNbits-Documentation
- you could use the LN address extension or free-LN-address extension (see more here https://github.com/lnbits/lnbits/wiki/LNbits-Extensions)
- or you could just use LNbits with a temporary funding source and link it to BridgeAddress if you want more privacy in terms of the domain used.

There are many ways to play around with these tools, especially if you want to have a more private LN address.

Do you want /need a private LN address? Here is a simple guide

DarthCoin

Agree with fiatjaf's comment to Jack's bounty: we don't need just github running on nostr, this opportunity is bigger...

If there was a protocol for development (maybe on top of nostr, or maybe nostr is already enough), connecting focused independent apps (rather than monolit platfoms and IDEs), i think it could enable competition and faster innovation.

What do we need in order to develop software?

Here are some ideas just to get started. 1k sats for each unique answer with reasonable idea.

- browsing and understanding the code: navigate through code, ask questions about the code, maybe run, review the architecture, APIs (ie to audit the code, or to implement new feature)
- make changes: propose changes, discuss and get feedback, code reviews, run tests, lint
- integrate and release: merge branches, test, release, etc
- report issues, ask questions, propose features

What else?


Decentralized github - requirements

phaedrus

#Digital optimist ||| #Surf minimalist ||| #Bitcoin rationalist