Today’s Date: Wed. May 18, 2022
Hello ALL!!!
Today (and for the past couple of months actually) as I watch the markets churn up and down, it reminds me of a storm in the waters churning it up and down and all around. I know it makes you sick if you think of it too much for sure!
I don’t mess with the regular markets anymore because I think all the corporations and such are full of demons to be quite honest. I hate spending any money with any of them anymore but it seems part of the world we live in for the time being. Now, I’ve been looking into crypto for some time now.
Actually, to be 100 percent accurate, the more I study, I see BITCOIN in my future 100 percent of my income. It is generational wealth. It is like gold but only better.
And it is STILL VERY EARLY and a great time to get into it! This IS NOT FINANCIAL ADVICE and I can not tell you to do anything with your money!
I repeat… This IS NOT FINANCIAL ADVICE!
But what I can tell you is what I think of it. I think it is the greatest generational wealth builder ever to exist. What I mean is I see it like an asset (like your house) …that you, your kids after you, their kids after them, and so on can use it to borrow against as it gains value (appreciates) over time. Sort of like a home equity loan but better. Sure some years it can be worth a little less than the year before and some a little more and even some the same as the year before. But zooming out and looking at the big picture paints a great story. There is a total supply of 21 million ever to be minted. At calculations that are supposed to happen sometime in 2040.
Mining or minting the coin goes by something called proof of work which means computers all over battle to solve complex math problems to “mine” a Bitcoin. We are over 90 percent of the total ever to exist. This brings to mind a couple of things. It is getting rarer and rarer and that brings value.
Today (with a little time and help) we still live in a time you can get one entire bitcoin (BTC) but that window of opportunity will be closing a little more every day as we get closer to the time when everything is “mined” and out the door. It is simple supply and demand at that point and I predict the price will skyrocket up and away as most holders WON’T even want to sell it. It will be collateral I will just borrow against it every year paying my bills and adding and holding as I go along.
The nice thing right now is how simple and sweet it is. Sure there are thousands of “altcoins” or many will call them “shit coins” as I have heard that you can buy and sell and make a little money from some if you are lucky, you can make a LOT of money quickly occasionally if you keep up with the game. BUT overall it is just that, a game. What makes it simple is just that all you have to do is find a good wallet. I would recommend researching a good non-custodial wallet and if I can even go one step further I recommend a company called exodus (exodus.com). What I mean by non-custodial is that you don’t have your name or anything attached. It is simply tied to your key and password. If you lose your key then you lose your coin so you better read up on this and you better understand what you're doing and have a method of keeping this information safe before committing much to it. This is out of the scope of today’s talk but when you are ready, you find a wallet you like. I don’t recommend keeping it on an exchange for long because it belongs to the exchange until it is moved to your wallet.
When that is settled you simply buy bitcoin or sats (short for satoshis) every chance you get. It is called dollar cost averaging as you simply buy whenever you can a fragment of a bitcoin (satoshis) and what they call stacking sats. Eventually, you get 1 entire bitcoin and the rest is history. If you can imagine there will be a time real soon when it might be rare for someone to actually own 1 entire bitcoin. And the price will be as such where you won’t have to!
A little bit wordy today but I am just learning myself. I got wrapped up in all the other altcoins and such and much more in the beginning but as I learn and move forward I really don’t want to mess with anything but bitcoin any longer. It is just more of a commitment than I wish to spend. I’d rather be gardening. I wish I could say I'd rather be praying and I love prayer although I can’t honestly say that right now. Bitcoin is a study no doubt and hopefully, you can find some help but if you just stick to bitcoin and nothing else, it really isn’t that bad to be perfectly honest. The main thing is to understand your wallet and how it works, how to buy sats and move them into your wallet. How to move them to another wallet if necessary or sell and move that to your bank or to the service I mentioned where you can borrow against when that comes into play. The folks at Exodus are very nice and gladly will work with you on many of these things. It really isn’t that bad with only a bit of study.
I wish you all the very best. Have a wonderful day and as always GOD Bless!
