The Bitcoin Flippining
Hey Jessatoshis
Today an old school mate reached out to me and wanted to know more about Bitcoin, and since I am an ocean of information on the topic, it's pretty hard to hold back and give him only what he needs to hear to get him started. As a Bitcoiner, it's very tempting to overload newbies with information that I feel does more harm than good. We don't allow them to reach conclusions independently and enjoy the same journey of self-discovery we've all been through.
I think that journey is an important part of becoming a HODL'r, building a low time preference mindset and forming those diamond hands. I tend to suss out those who enquire about Bitcoin, and if they are coming at it with a speculators mindset, I often shy away.
I prefer to deal with those that have become curious, those who are traditional savers and have been stiffed by the system. Those are the ones that have the building blocks for me to assist down the same path I took regarding BTC.
Everyone is different; I can't speak to someone who wants to trade the asset because I don't trade the asset; I've got nothing to offer that person. I can only help those who want to HODL and perhaps take on some risk in the lending markets since that's where my experience lies and my strategy I use for BTC.
Relook your perceptions
As we got to chatting, he asked me plenty of questions, and while I could see his curiosity, something didn't click. The fiat mindset he has is still so strong that it's hard to understand what I say. All he sees is an asset going up and down in price, sucked in by the noise, and further obfuscated by the measuring stick that is fiat money.
He spoke sensibly about risking what he was willing to "lose" and riding the waves, asking when it would be right to sell. He sees it, as many others do, as a vehicle to get more fiat money. I get that if you live in a fiat world with a fiat mindset, the attraction of making more fiat money is a powerful message.
Yet, I am sitting on the other side of the spectrum; I don't measure my BTC in fiat. I measure my BTC in BTC, and when you do that, you know you never have enough. You're always looking for the next deal where you can hand over fiat for a cheaper amount of Sats.
We're both looking at the same market, but from different points of view, and we value different sides of the trade.
The flipping or flippining
I want to think I'm further down the rabbit hole than most, so I understand where he is coming from; even for those in crypto, I see so many with that same mindset. It's all about the fiat value to them and good on you, do your thing make your money.
However, the deeper you go, the more chance you hit this wall I refer to as the "flippining". Once you flip and start to think and measure in terms of Bitcoin, a few things start to happen to you.
How do you know you've flipped
- When you realise you don't have enough Bitcoin
- When you're constantly looking for dips to get back in cheaper
- When you commit to cost averaging daily
- When you measure ALL purchases in BTC
- When satoshis become your unit of account
- When people tell you at what price you want to sell your BTC, you hear at what price would you buy fiat
- When the price of Bitcoin doesn't phase you
- When 20% dips and rips make you feel nothing
- When you're BTC net worth is more than your fiat net worth (and you don't care)
- When you'll rather take a loan against your BTC than sell it
- When your @coingecko charts are viewed in Sats, not in Fiat
Once you've flipped, you'll notice that life gets cheaper for you; you make more rational purchases. Your time preference lowers; you evaluate everything you buy from an opportunity loss standpoint. Then finally, you become a far more savvy saver and investor both with your BTC and your fiat positions.
I am not saying BTC holders are financial geniuses or won't make a stupid decision or go broke. I am just saying that the likelihood of them doing something like that once you've flipped drops majorly.
Originally posted on The Bitcoin Manual
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
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LOL I like that one definitely has to be added to the list.
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I actually used it in one of my linkedin posts a couple of months ago :)
I hear Ya!
To be honest...
Back in September (I think) I read a post from You,
And jumped in when the Bit was at $18000 - $19000,
And I haven't touched it + afraid to actually!
He he he!
And Your right, My Fiat money is My shuffle cash -
My Crypto is My money!
Have a Great Sunday!
👍🏼😁🌄😁👍🏼
Glad to know my constant orange pulling 💊 has made a difference! Once you flip you start to see everything differently and I like this side of life! It seems more positive, I feel like I have real goals that are achievable
Life is getting cheaper in that sense and I can afford more time for myself and having great discussions with fellow bitcoiners on a range of facinating topics
What more can I ask for? Bitcoin has given me so much
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I totally agree!
A lot of people right now just want easy money that makes it unwise for them to invest with the mindset around crypto in general without understanding or knowing what they are doing, I stay away from those people, they make many mistakes and then blame you for it after. I have a friend who was asking me questions and then told me he bought crypto and bragging about it, bough tron. lol his excuse was "I want to make shittons of profits so I can clear my humungous debt" yet just keeps piling it on, including to by the crypto.
I don't see bitcoin as drastically as you do but I can relate to the flippening concept but for me it's with precious metals, once I got into it it's like I priced everything in PM's and it actually helped me cut expenses that was going in stupid directions, it's actually quite a useful mindset. I don't think it matters what asset you "think" in, anything that has anyone looking at securing their future long term financial stability and looking outside fiat is a win.
The fiat mindset tends to be one of gambling and I get that too because people see the numbers they think oh you get shit rich and to be honest crypto holders don’t do themselevs any favoures by ticking off price points like why care if the dollar is hyperinflating against Bitcoin sure you’re vindicated for your conviction and that should be enough
I also have those asking me what’s the next cheap hot alt coin that’s going to 1000x and can they put in $1000 and walk away a millionaire and I’m like this is such a fatalistic way to look at thing.
Like how bad are things that you feel a million bucks in a short period of time is going to fix anything and even if it did happen I doubt that fixes your mindset of how to properly allocate capital
That’s why I’m not too concerned About crypto millionaires if they don’t have the right mindset they’ll lose it as quickly as it came
Anything that has a steady dilution rate can be used as price measurement. I still use gold as a measurement because it’s got a longer date range to compare and it shows you the truth
Even if it’s been euthanised along with silver via the paper markets. I am sure if there was every a call for proof of reserve the way we have with BTC gold would be in the 5-10k range at least
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"this is such a fatalistic way to look at thing" - indeed! I think anyone who sees prices in fiat other then self reassurance during our journey and watching fiat inflation/destruction that we are not crazy misses the actual point of crypto. Anyone who gets rich quick is likely doomed to get a rags to riches back to rags story because often the problem is poor financial literacy overall.
Paper markets will break, It's not a matter of if it's a matter of when. WEEEEENNNN Me want rich now!! lol
In all seriousness tho, product has been hard to come by and my local shop is begging for sellers and offers a good premium over spot. There is def supply disruptions especially in silver. The reason I find it attractive is more for all the green techs and new medical techs will require lots of silver, it's just a matter of time and the world seems to be want to move in that direction. Paper will be pretty useless in that regards. Gold certainly shows the truth and bitcoin shows how little confidence their is in fiat. I made comparisons during different decades between fiat valuation of gold along with it's buying power over the decades. Conclusion, fiat has been long dead, people just don't know it yet.
LOL WEN MOON? WEN LAMBO?
What gets to me is that the stats are all their it’s public knowledge but it just shows how bad financial illiteracy is among the public and the misguided nature of these central authorities
I always wonder WEN is WEN, I tried to grab data from the Weimar Republic abs overlay it with the data I could get from the South African reserve bank and even though we’re way down the line already it still looks like there’s a way to go before break down
Not that our investments won’t pay off in the mean time. It’s a strange feeling watching the death of a currency and no one seems to notice! It’s like every day
I’m taking crazy pills! People here think I’m nuts
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I know, I have been preaching fiat is dead and to save long term in other assets for a decade and everyone just laughs at me, well I guess they'll find out eventually. cost of living keeps increasing but wages are going down or staying the same (except for politicians), I don't understand how people are not seeing it. People seem to gobble up whatever kool-aid flavor the gov spits out yet nobody can afford to buy a home anymore(well not nobody but you know where I'm going with that).
YAY Canada has created 100k jobs in X time, yet has killed how many million jobs for the common cold re-branded? Even the printing press is getting tired and demanding overtime pay with threats to unionize! Like you said it's not going to fall tomorrow or next year but they will keep printing and devaluing until it becomes the german mark and everyone is dumping it in the streets. I'm so far away from pulling my pension that I already kissed it goodbye, it wont last till then. We don't know wen is wen why we have crypto, we don't need to care when, we are protecting ourselves already.
It is a strange feeling both exciting because I feel validated of my observations from a decade ago and sad at the same time, it's going to slowly erode quality of life especially for the poorest and cause more poverty and homelessness in the meantime. I agree, it's everyday. I read something about food here having gone up like 20% since the beginning of the pandemic and they forecast more to come with the newly implemented carbon tax increase we got for april fools since much of our food is either imported or grown here and travels around the world 3 times for processing and packaging , the gov calls it economic growth and they are also talking about implementing UBI. We already have UBI light as in pandemic relief funds and wage subsidies for zombie corporations. I think when we go full UBI, that is WEN and the beginning of the end.
In all honesty tho, I think the corruption is starting to spill over (the headlines are there just not promoted) and people are waking up, a bit late but better late than never. My spidy sense the whole thing is about to be ripped open and blood is about to spill everywhere. They can print into oblivion for a few more years but I don't think it will make it that far. They are starting another round of lockdown and some places have curfews. They are going full communist over here and shutting everything down except for Walmarts and big chains.
Maybe we can trade crazy pills, see who's got the best ones, keep things interesting 😁😂🤡
We are way too much like goldfish and have such short memories, I can't stand these false-positive stories.
In a fiat system, it's all a confidence game and driven by narratives since no one cares to ask about facts and proving anything it's all about shaping the right story for the masses
Inflation has been shaped as normal even when it's theft on a grand scale. I can also see prices increasing on this side, and no ones batting an eye. It's just business as usual
We won't have UBI but we have calls for increased taxs, which isn't going to go down well and will push more high earners and skilled workers who do pay tax, out of the country. I also think there will be more big borrowing for infrastructure projects since that's really their only playbook.
Print money and build stuff, won't do much but increase debt levels and drive up costs so debt servicing is only going to be funded by more printing.
I think countries like yours need to do UBI to keep your currencies devaluing at a rate that keeps our import and export balanced, or so im thumb sucking.
Lol happy to share my crazy meds, and no I don't mandate anyone to take it, its all by choice unlike some...:P
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Facts, don't tell me about those! Gee! you could slap everyone with them and they still don't see passed the propaganda and will argue until they are blue in the face...I ted to just walk away and let them be right. I worked with a guy that used a sports betting app thinking it would get him rich and out of the trade then asked what efforts I was making in an arrogant fashion. I explained about bitcoin, blogging etc. crypto in general and how to earn them, he thought it was the stupidest thing ever. Now when I see him I troll the F out of him. It's good entertainment. speaking of which, here is a good satire article...shit my bad, it's actual news.😲
https://www.cnbc.com/2021/01/23/why-people-invest-in-bitcoin.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Facebook&fbclid=IwAR3F5xzmBNA-khJ-zX-gr2lg8Mzqa3raqtuFSHk3Cz2NQFw9saPelZAvotI#Echobox=1617129672
I agree inflation is theft on a grand scale, I like to call it the saver's tax. You want to be responsible and save for tomorrow ? Ok lemme fix that for you! Here the middle class gets their panties in a bunch when they increase the minimum wage because everything else goes up too. I don't care if you are a burger flipper or stock shelves at the supermarket, if you work 40-50 hours a week you deserve the dignity of being able to afford a roof over your head and food in your belly. If our currency was sound from the beginning ther ewould be no need for inflation or minimum wage increases. That's where it began to fall apart here, when they fully debased the currency in 1967, it was somewhat stable-ish until then and I'm positive it was intentional to impoverish the citizens. I take my crazy pills like they are vitamins with my tinfoil top hat on. Crazy fancy!
They already increased the tax 2 days ago for us on top of stupid high income tax we already have, don't worry you are not the only ones with a bigger tax bill, I don't think it will be escapable anywhere for that matter. I don't know how they are going to fund UBI besides perpetual debt in all honesty. I am said skilled worker that is being trampled on and my desire to contribute is dwindling real fast the closer I get to 40 and don't see the point anymore. I have re-adjusted to living the simple life and looking at just dropping off the grid and going full hippy and grow my own food/forage in the middle of nowhere Canada where properties are still cheap-ish. Going back to the good ol indigenous roots, more fulfilling in the end.
They are doing the same all over North-America too, all debt. I don't think they have a choice anymore. Give people free money for nothing or build infrastructure with money printing to create jobs. One way or another, their is no other option but to print at this point, we are passed the point of no return, there is no paying this debt back anywhere. The only way forward is to keep printing or scrap the whole system and re-instate resource backed currency. I think we both know the road they are going to pick. BRRRRRRR
Jeepers don't wish me ubi and hyperinflation! I like the fact that I can still afford rent and food and only have to give the government half of my income!
LOL I had a similar experience my cousin is now into this betting thing and he's explaining it to me and how his making so much money and im like that's great. But he loses either way, if he wins he consumes it if he loses its lost. There is no saving going on there, so I just keep quiet. He keeps telling me he wants to get into Bitcoin but never does it because it's "too much reading and work".
I've even had family members ask me to buy BTC for them and hold it and sell when I think markets are topping and im like hell no, my view is different, do with your money as you please.
I feel you on the wages thing, while I am a free market guy and feel markets should set wages like you say it's not a free market in currency so my view doesn't mean shit. These people NEED more wages just to survive not even save and It's horrible how we put people through this and make them "fight" for a living wage, its dumb.
In a market where labour is properly valued with sound money they don't need to fight. But in that market politicians and intellectuals market value and earning capacity drops dramatically as they are paid based on their utility in the market, which is why they are so desperate to hold on to the system we have.
I used to hate FUD when I first started because I was so emotionally tied to Bitcoin, now I love it, anything that brings the price down short term is great for me. I love how they talk about crypto holders as religious and fanatical, if you read that article back and replace all the mentions of Bitcoin with stocks or fiat it reads exactly the same lol
I read one the other day that said Bitcoin will drop 80% as the headline and then it goes on to say it should top out at 200k this cycle and then drop and I am like yes, it should I agree with you and for all of us who have bought previous to this run well still be in profit in fiat terms and also who cares?
I don't wish UBI on you guys I just think it's the easiest way to get cash into the system and to the greater number of people who will then spend it around the world. If the US for example doesn't, and there's deflation, countries like mine that hold dollar debt can't pay it back and our currencies go poopie faster than you can say UBI.
So I'll take the slow pain over the quicker pain.
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What is it with them and getting rich on betting apps! I don't know anyone who's ever gotten rich from them. I think in a week he made like 6 bucks, frig I can write a shitpost that makes no senses and probably make that, and I get to slowly multiply it by using it to vote others or simply let it inflate. We have such a golden opportunity here on Hive, I can't understand for the life of me why we don't have more participating. I think people can't wrap their heads about this place, then again they plan on retiring on a betting app, maybe that's self explanatory. 🤣
yeah, those that want to invest and have someone do all the work without wanting to learn, they better stay away from that, sounds like trouble.
The thing is, we are not really a free market, they import temporary foreign workers and pay them less undercutting everyone's wages in the process. For example (s), when we had that mad wild fire "the beast" that took out a large part of one of our northern cities, they hired a bunch of fire fighters from South Africa to come help out our fire crews and our dudes were making over $30/ hour and the South Africans were paid $10 a day for the same work in the same conditions. Their excuse was when we made a stink about it "it's 3 times more than they would earn in their home country".
Another example is produce harvesting, last summer they couldn't get their $5/h workers from South-America because of closed borders, rather than paying a Canadian worker the minimum wage ($12 to 15/hour)so the farmers decided it was better to let their fields rot and complained that their fields were rotting and the season was a complete loss while the store shelves sat empty and everyone was fighting over food and toilet paper. What a waste that was, it happened with meat processing too.
Another example is my own industry, they undercut us by getting untrained cheap labor from overseas and now none of us want to go to work after a decade of wage erosion and we just lost more a few months ago. We are contractors so we can say no we're not going to work for less and it doesn't really affect our status. except we are highly skilled, trained and require degrees because of the complex nature (welding engineer/boilermaker). If we screw up, people die or get severely injured or the plant blows up. Now the jobs are just sitting there and their scratching their heads as to why nobody wants to go work for less and carry the untrained weight since they are essentially warm bodies as we call them since they have no idea about the job or have any degrees. Leave the untrained to their own devise, they make quite a costly mess and jobs don't get done, it cost them more in the end and some are starting to find that out the hard way.
If anyone raises a stink we are suddenly racist and against foreigners when actually we just don't believe in slave labor no matter where they come from, they deserve the same wage as everyone else based on qualifications and skills. I bet if they paid them all the same as Canadians there would be no need for them suddenly. specially with the current high unemployment. It's the silliest thing ever, high unemployment and everyone is loosing their jobs but they import temporary foreign workers claiming shortages in labor force. Same in the service industry too (burger flippers, coffee shops and such). Free market? Hum...no. There is zero logic behind it, it just a numbers game and corporate greed and since they grease the govs pocket, they get to continue exploiting people while politicians spew out anti "pesky racist old stock" Canadians propaganda (as our Prime minister called us). The "fight" is artificial, so is the shortage of workers.
I like FUD, makes me laugh. I laugh even harder when it runs up the next day after a stupid article like that comes out. "replace all the mentions of Bitcoin with stocks or fiat it reads exactly the same"- totally. I'll take my funny internet money over their dying stinking garbage. When you see literally all asset classes go up at the same time, you know something don't smell right. I know, they contradict themselves in their own article, its just weird. It's dead but going up to 200k...whatever. lol
I suppose your economy depends on larger economies and their policies and foreign income, I never really thought of that. I don't get out much, I just hide in the mountains, less crazy in them darn hills! 😂
Lol what I think it comes down to is people don't know how to value 3 things, their time, their labour and information, so they waste time, undersell their labour and don't source valuable information and that's just the competitive nature of being human.
Oh I avoid it like the plague, lol wealth without work, lol not going to happen, they the same people who leave their money with money managers get their shitty 5% return and then cry they don't have enough to retire on, it's not that persons responsibility, it's yours. His making his retirement by taking 2 and 20 on managing the fund lol he/she doesn't give a fuck about what you're left with at the end of the day.
Only you can save you.
I think that's the case the world over, people are going to try and undercut each other with wages, we have it here too with people from other African countries and more power to them! I think competing on cheap is fine, because the quality will always suffer.
If you compete on the quality you can demand better rates, i know we have too many zombie companies governments won't let fail so there creative destruction is lost and so that theory doesn't hold true now, but I still hold on to it, call me a dreamer lol
There's always going to be labour arbitrage, I benefit from it personally since the cost of living is way cheaper here but my skill set allows others to monetise my work in their countries and make a margin on my work, so I'd be lying to say I am not the one undercutting US, UK and AU workers in my field
Lol sounds to me like I need to get more of that mountain living, I only know this stuff because I have to prepare if I didn't id be happy go lucky off the grid, hopefully once day, but I want to make sure when I walk away I never have to come back
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I agree people not knowing their value or what their time should be worth. As far as the temporary workers, I don't blame them either because it probably is good money for them and they need it since they live in a messed up economy, I think it's dirty on the part of the companies tho. I don't care where the workers come from or what they make in their country they are not working there. When working on Canadian soil, they should be paid the same as a Canadian and that's just equality, it's simple really. None of this exploiting workers and paying them less than the minimum wage set, it isn't a freaking suggestion it's a law. They make them live in squalid crowded conditions too and if they speak out they get it even worse. We have been fighting for fair workers rights including theirs.
Maybe you are taking work in a sense from another country but are you really since you are working on your home soil? Naturally you would be paid according to your economy. Imagine you come here and a proper living wage to afford housing, food and transportation should be $15-$20/h and you come here to be making $5 to find out everyone else makes 3x more and stuck living in whatever barn(not literally but it's pretty bad housing) they want to stuff everyone in thinking you were getting a good deal because it's more than what you would make at home...talk about getting screwed in the end and that's pretty unfair. Their not stupid, they can see they are being taken advantage of, they just don't have an out or fear repercussions because they get threats. The people peddling them are often tied to politicians. there has been some horror stories surfacing the last few years, some of them have been trying to speak out. Sure they wont come back after their contract is done, they'll just find a new unsuspecting batch to exploit next round.
Totally, that fund manager is only concerned about making their money, they really don't care what you are left with as long as you consume their services. They are there to sell not make you money. People want convenience and convenience is costly. Like you said, only you can save you. My pension plan is supposed to be one of the best one in the country and I don't even count on it but I have no choice to contribute, the only way to manage it myself is to leave my field for more than 2 years, might happen someday but not currently I still have to put it in a different plan, the only diff is I would get to pick my retirement age(I might still end up doing at some point anyway if I ever decide to switch career and go teaching).
I know a lot of this mountain living stuff because that's how I grew up, it's quite pleasant actually but you have to accept that it doesn't build any wealth. I chose to live in the colonial system because I like nice things but still plan on returning to the indigenous ways no matter what after I have made enough to feel comfortable with leaving the city. I could still work here and there but it will all be out of town work given the nature of my work if need be but if I go teaching or continue the career path, I'm better off in the city. Like you, once I walk away, I don't want to come back. I'm not a big fan of credits and that whole gimick, I want to drop as big of a payment as I can optimally in full right off the bat. Moon wen?!? lol. I have enough eggs in multiple baskets, something's gotta give somewhere at some point. In the meantime I slowly keep chipping away at it. Maybe I can retire on UBI cause I'm not footing the bill for it since I don't have kids, they wont be footing the bill either! lol (hopefully)...I'm a dreamer too 🤩😝
One of my Hive friends @handofzara made that on my meme post but it's the perfect description of my plan.
Oh it’s a real dick move on behalf of those companies because they don’t pass on the cost saving! If you can get cheaper Labour you should be passing that on in cheaper prices for consumers but it’s just bigger margins for executives and share holders
And since we don’t have a free market pulling this shit pays off because other companies and small businesses can’t come In and compete
I have family in Canada but they moved years ago and are well settled down. When I was looking at moving there I spoke to a lot of people and they didn’t paint as bad a picture as you do but it was pretty Hines that I would basically come home with nothing and while I’d be in a better environment I won’t exactly get all the benefits thereof.
Migrant exploitation is real I don’t doubt that and then it’s papered over by anecdotal stories of success so those that don’t make it feel shit and feel it’s all their fault when it’s not the case
What I’m hoping for is if I can secure my off the grid operation that I can still do some remote work here and there or maybe some seasonal work just to supplement my savings and any investments I do
I by no means think I’ll be sitting in my arse, I just want it to be on my terms and not this chase to stay above water all the time
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There is a difference between immigrants and temporary foreign workers, remember that. immigrants have it slightly better. The other ones are brought in just to be exploited and then shipped home after the work is done and often have to pay huge sums just to get here. Obviously it migrants have it a little better than the TFW since they know better and value themselves properly. I have seen migrants getting looked over for the cheaper tfw and that is demoralizing for them even when they are willing to work for the bare minimum. My old neighbors were experiencing that and took it pretty hard.
https://newsinteractives.cbc.ca/longform/cargill-covid19-outbreak
https://thetyee.ca/News/2020/05/02/Alberta-Meat-Plant-Workers-Speak/
https://www.cbc.ca/news/canada/newfoundland-labrador/tfw-deportation-labrador-city-arhur-lorenzo-1.3953077
https://www.afl.org/tags/labour_rights_standards_and_law?page=3
https://www.huffingtonpost.ca/2014/05/19/film-company-foreign-workers_n_5350287.html
Understand that 2k the gov give for cerb(ubi light) barely pays the bills in the first place
https://globalnews.ca/news/7428870/millions-of-apples-rotting-okanagan/
https://harvestingfreedom.org/tag/temporary-foreign-worker-program/
Sorry my figures were wrong with the firefighters, it was $50 per day, still not good tho. $4/ hour for what should be a high paying job compared to $30+ /hour locals get. Minimum wage in Alberta for any worker is $15/hour by law.
https://www.cbc.ca/news/canada/edmonton/south-african-firefighters-in-pay-dispute-leave-fort-mcmurray-1.3631385
http://bcemploymentstandardscoalition.com/wp-content/uploads/2017/05/Summary-Report-Workers-Stories-of-Exploitation-and-Abuse.pdf
Also people don't do research in what goes on in Canada and just blissfully stroll thru. I gut things down to the little details and get wide perspective but it also gives me the chance to identify the bad things happening. Probably the fact that my employment is always moving around, I get to talk to a wide range of people and social classes and also part of fair labor movements probably trained me to identify the cracks in the system. The tfw are a sort of human trafficking from actual human traffickers in many cases, also how it differs from migrants. Companies don't pay the workers directly, they pay their agency and in turn they pay the workers. Depending where you relative live too makes a difference. Alberta, it's the friken wild wild west and anything goes.
The provincial government is like a 40 year empire with the same one party always in charge. We had a different party for one turn and we had a chance to push for labor reform but the other clowns got back in and rolled it all back worse than it was before. The pandemic exposed a few things to as we tried to understand why these communities were experiencing severe outbreaks when the rest of us weren't like around meat packing plants.
I'm sure there are many success stories out of all of this and probably not like that for every Temporary worker especially for the skilled ones but there are far too many human rights abuses as well mostly in unskilled labor and they are pretty bad and plain wrong. Like you said, the abuses gets papered over with feel good stories, Canada is good at making feel good stories. I'm such a nerd for always researching shit , I know. That's why they hate unions and call us lazy, we are actually hard workers but we hold companies accountable for health safety and fairness in the workplaces and what is good for workers is not good for shareholders. We don' only fight for ourselves, we fight for all workers.
Working remotely would be a blessing for anyone and it's a great plan. Being off the grid you are also more in charge of your own circumstances rather than relying on others, in the end nobody knows your needs better than yourself, just like being our own financial custodian, the more you can do for yourself, the better off you are and also gives you the right to bitch and moan at the flaws in the system since you are capable of take accountability and responsibility for your own life rather than just have to depend on it. People that don't take responsibility for themselves end up having to accept sub-par to survive.
I'm setting myself up to be sitting on my arse at retirement, well not literally but hobbies and fun stuff only certainly on my terms. I pondered doing nature conservation type stuff at retirement maybe with our national parks and those jobs don't pay that well so I want to be set up that low pay doesn't matter if it's something I love. In reality I have plan A, plan B....all the way to plan Z. lol like I said, I'm a nerd like that but I always have a direction.
I also forgot to mention this - You will find it funny!
I talked My old boss back in November to get in the
game with some Bitcoin...
He was (maybe still is..) scooping off whatever the Bitcoin
makes and calling himself.smart...
So one.day he is telling Me about his cash grab and I should be doing it to instead of letting it sit...
I told him...
Hey man, so You know...
Your not watching the Bitcoin go up and.down,
Your watching the dollar foing up and down in relation
to the Bitcoin!
He could not get it!
😁😅😁
LOL That’s the way, you’ve clearly joking the crazy bunch of you’re thinking like that. I tried trading Bitcoin in 2017 and all that happened was I ended up with less Bitcoin
All the fees and stuff also add up and it just means you losing even more Bitcoin. It may seem small now but we know those can be massive amounts later in life
As long as we have more Sats than we did yesterday that's all that matters
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That is right, and I am "stacking them"!
Thanks for all the advice, wish You a A successful week!
👍🏼🌄💸🌄👍🏼
It is like we're living the same life as I have had the same experiences as you in my conversations. Some are waiting for the fiat price of BTC to drop to March 2020 levels so they can buy 1 BTC in one go, others are only wanting to cash out short term like a trade rather than HODL.
Not that there is anything wrong with any of that, you do you. I'm only here to help understand the what and show you the tools to make your own journey.
I think I started my true flippening around Aug/September 2020 and now everything is measured in sats and I take a loan out for that dodgy fiat if I need.
You may want to add to the list "calls fiat a shit coin in casual conversation" as another way to determine if you've flipped lol
I heard someone say the other day there are millions of millionaire in the world from every country but only 21 million Bitcoin.
Do you really want to be the millionaire without 1 coin? It could mean you’re no longer a millionaire
Once that becomes apparent the fight for a position on the blockchain will bid up prices like crazy as they try to tempt other Bitcoiners out of their position.
I’m still amazed at how deeply entrenched the fiat mindset is that a few more pieces of paper Will have you sell out so quickly.
I am happy to answer questions and teach what I’ve learned but you can’t teach mindset. We all need to live with our decisions and I’m happy with mine regardless of price
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Lol! Has millionaire FOMO been priced in to the S2F model?
Ah mate, the fiat mindset runs deep but understandable as it's what "it's always been" but once you're flipped, it's pretty impossible to go back to fiat mindset! I'm starting to price things with other objects and/or sats! Can't tell if it's a blessing or a curse yet!
LOL probably not but what I want to know his how S2F works in lost coins and things we didn’t know before like wrapped Bitcoin and layer 2 BTC that means BTC now sits off chain so what does that do?
Lol it’s making me frugal AF, like I’m so conscious of the opportunity cost lost when I buy something and think twice about buying things.
Still Not at the point where I’d cut my own hair but who knows?
I was talking to someone today and they like think of all the fees people are wasting trading that could possibly be worth a lot one day lol! I’m not about to waste my Sats trying to pick up pennies
Lol, yeah that's a good point about lost coins and wrapped BTC. Is the S2F just purely about the supply is assuming 0 lost coins?
Lol! Already cutting my own hair mate, get the clippers out!
Damn, yeah those day traders burning up sats like no tomorrow in fees... I'm keeping trading and moving things around down to a minimum and stay satisfied
The S2F only takes into account energy costs and sell pressure from miners along with the cut in supply versus whatever the buying volume they predict
So it doesn’t account for things like lost coins, second layer coins, wrapped coins and products like ETFs since they didn’t exist when he did the calculations but Canada already has 2, then we also have 2 funds in skybridge and greyscale buying BTC on behalf of clients
It also doesn’t take into consideration the new loan markets and cantango trades that are happening now
So the 288 while pretty reasonable I think will be overshot if we consider those variables
That's a lot of things not considered for the price model and with more products getting rolled out with BTC as time goes on, the model could well start to look conservative!
I just HODL my crypto for the most part but I don't think I have flipped yet. I still tend to consider things in fiat and I still have most of my investments in the fiat market. I personally don't care about the rips and dips in BTC since it was considered more as a long-term investment. But I haven't started measuring things in satoshis yet.
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That’s okay I think it takes time and if you’re doing well in the fiat markers more power to you, but many people aren’t doing well on fiat and are looking for a way out
Thinking long term in any financial decision tends to be the better olay! Yes we get sucked into rips or what’s shiney and new but there’s a reason why many get pulled off their long term goals
HODL’ing is not hard to do but it’s filled with pitfalls along the way
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I think I've ticked more than half of the items on the flippening list myself.
I mean it's so bad that I get pissed when a coin I'm holding moons "too early" and doesn't dip for me to buy more. I just want to get more.😂
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LOL nice to know I’m not the only one finding myself slipping deeper into hypeebitcoinistion
I think that when you realize your position is something no one can take away from you but you it starts to become a real game of expanding your holdings while you can afford to with your labour.
There’s going to become a time when your fiat can’t make the same dent in adding more Bitcoin and it’s happening each year and I can’t see it stopping
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thank you very much for sharing, have a good day and good mood
I find myself being more of a HODLer than a trader even though I try to push myself to do at least a trade per day I have failed to stay true to that goal but HODLing and finding means of accumulating cryptos and not wanting to sell have become a habit, fun with long term perspective.
My net worth is currently worth my fiat, I'm currently unemployed for the 4th week now, but just powered up all my HIVE,HBD on 1st of April. I have a project coming my way and hopefully starts next week but I don't have the tools but I keep telling myself spending my cryptos for the current situation I'm in now is not the way, there's got be other ways of funding this project with fiat.
Once you understand crypto and its differences to fiat you begin to think and act in ways only understandable to real crypto enthusiasts.
The moment you realize fiat is worst than shitcoin you will begin to appreciate every crypto you own and HODL with diamond hand.
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I’m sorry to hear about your job situation that really sucks and trying to find work is tough! I know I’m super fortunate to be able to work and I never take it for granted
I think the opportunity cost of spending your Bitcoin is too high right now. If I know I’m only losing a potential 4% a year as hard as that is over time I could still see myself spending it but 200% a year I’m sorry I can’t do that to myself
The more I stack and the higher it goes the more it makes sense to borrow against it instead of ever selling it too, driving me to HODL even more
When I first started it was just a hobby and for fun but over the years as the value rises it got a lot more seriously
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True, i'm not phased. My silly altcoin gambits make me foolishly nervous, but I'm stone cold on the BTC.
I can’t wait to dump all my Alts over the next 200 days or so it’s going be a wild ride and these moves determine how you se yourself up for the next 4 years
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true, like i wish i had bought twice as much bitcoin 9 months ago 😀
Lol and you will have that same wish in the next 4 years when we go through this bull run AGAIN
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thank you for sharing, have a nice day
I totally get you friend as I was in same boat until a few months ago.
I thought of exactly same question - what is the right time to sell my BTC, just because I still had Fiat mindset and was measuring everything with Fiat. But now I understand the background and have started shifting my mindset.
I would not have to worry about BTC price going up or down if I can buy my stuff in BTC rather than in Fiat.
I know this will take some time because this is only possible when we have a Mass adoption of BTC and more player who will accept BTC too.
So my game plan is to accumulate as much as I can until than.
Why not ? That’s all we can do for now and build the wealth for our future 👍👍
I get the temptation to sell and walk away and if you can without regret and looking back by all means. But for me I count myself lucky to be able to stack BTC with the savings I do get and able to live on my fiat I know not everyone has this chance I get
I just don’t want to pass up an opportunity like this so I keep learning and stacking while I can and see where the road takes me
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