how to retire and use your bitcoin to buy things you need and things you want to spend for your life style. 1. buy as much bitcoin as possible, dca or lump some your savings in, and put a percent of your pay check in. 2. spend and replace your bitcoin as best you can, spend as little as possible for the short term, keep working stacking sats and replacing spent sats. 3. you reach enough bitcoin to start retiring on or semi retiring on, this is where you form a plan on only using a small amount of bitcoin over time which you will slowly lose bitcoin over time but gain more and more purchasing power. that will be enough to live on and pass down generations.
Number 2 makes no sense, no need to spend btc if you have the fiat to replace it. Just spend the fiat and hodl btc while you have a fiat income. Unless you are willing to do trading… that is another topic.
Good video. What are your thoughts on getting a loan against your bitcoin instead of selling it and having to pay capital gains? Based on your spreadsheet, you’d still own the 100 btc and then maybe sell off a small portion during a raging bull market to pay off debts.
Careful. You do not hold keys (rug risk) and big dumps will cause forced liquidation. I don’t think it’s worth it at all at this point. If a company comes along that offers better terms and lower risk (multi sig / no forced liquidations) then it’ll be an excellent option imo
Super early. I think the best thing to do is create your own. Build businesses that hold bitcoin and earn bitcoin. Don't rely on others to build it and definitely don't rely on others to earn a yield from! But yes, I definitely agree. The game hasn't even started yet.
If you’re under the opinion that exchanging legal tender is subject to tax. Everything, including taxes, will look a lot differently if bitcoin ends up succeeding.
Actually you can rent it!! It's called staking it. Property has to be maintained. The Dollar will not be worth a Dollar as time goes , btc is a hedge to inflation.
Can you input 1 bitcoin into a spreadsheet with future price predictions? Will 1 bitcoin be enough? Also- you should be able to borrow against your bitcoin in future so this will be another option
Lightning nodes will not make you any significant amount of sats. The amount of management that is required to maintain channel liquidity is a day job in itself just to earn a few dollars a day. And if you're having channels forced closed, enjoy the transaction fee cost dropping your profits to 0. Lightning is fantastic technology but should not be marketed as profitable imo
Haha yeah I had to use a significant number to get the message across. The reason I used 100 BTC is because this is a longer term (10-20 years out) and in my opinion 1 BTC today will be worth the equivalent in 10-20 years from now. It was more about the process and overall message itself not the amounts.
@@88SATSradio Yep, I get it. I think the most important principle you offered, is to only reserve only 10% of your stack towards retirement income. That's useful advice. Thanks.
Relating the question on working. Work is good and healthy for human beings and you should ask what is wrong with your life currently that you do not like work? If you have Bitcoin you can use that as collateral to invest in things or work that you are passionate about and understand. Once you serve other and work for their and your benefit your life satisfaction increases. To sit on you arse all the time is not healthy for mind and body. God bless,
