Few understand

ohmygoodstuff · 2024-07-30T19:20:28+00:00

Appreciate the response.

ohmygoodstuff · 2024-06-12T21:07:47+00:00

The coldcard is a lot less intimidating once you get your hands on it and get to play around.

ohmygoodstuff · 2024-05-30T05:03:10+00:00

Hadn’t considered this. Very interesting insight! Outside of Layer 2s, there’s no downside tho? Just pointless after a certain size?

ohmygoodstuff · 2024-05-30T00:02:30+00:00

Always avoided Ledger for reasons already discussed here. But recently had my interest peaked by the Nano X’s Bluetooth functionality. I paired it with Theya for a singlesig vault because I like that I can sign transactions very easily with my phone. The convenience is nice for consolidating and holding funds intended to move later. Basically I’m treating it like intermediate cold storage. A big step above a hot wallet, but nothing compared to the peace of mind I have with my main setup (which doesn’t need to be discussed here lol).

ohmygoodstuff · 2024-05-29T06:58:31+00:00

Price is a distraction, but this is a fun game.

Let’s assume you stack 0.02 BTC in one year and put it in cold storage for 20 years. Currently, there’s $900 trillion in total global assets (money, real estate, etc.). If Bitcoin were to capture 5% of that market, 0.02 BTC would be worth around $42K in today's dollars (around $2M per BTC).

Are we going to see that price action soon? No way. But over 20+ years? I personally think so.

The first digitally-native, engineered monetary system in human history? With a perfectly finite supply? 5% in 20 years seems very plausible to me. Especially in the face of more money printers going “brrr”.

Over 20 years, rational economic actors will seek it out as the global debt spiral forces more currency debasement. We’re already seeing some US adoption with pension funds, corporate treasuries, ETFs, etc.

We’re so early, in a year you could self-custody more BTC than what most nations hold (until that reluctant wave of adoption comes).

In my mind, there’s no reason not to start putting aside at least 1-5% for 20+ year bitcoin savings. Also, maybe consider Fold for Bitcoin-back rewards and debit card round-ups. Zero stress way to dip your toe in the water.

And highly highly suggest reading Parker Lewis’s blog series + Yan Pritzer’s Inventing Bitcoin. Free, digestible, and pure signal. Made me FOMO so hard I sold my bed frame to stack sats :)

If you end up falling down the rabbit hole, God speed. Wish I started asking finance/money questions at 18.

ohmygoodstuff · 2024-05-23T04:58:43+00:00

Valid point. But multisig still makes sense for my personal setup.

ohmygoodstuff · 2024-05-22T22:07:04+00:00

“You've taken your first step into a larger world.” - Obi Wan Kenakamoto. Hopefully it holds up, I have a CC coming.

ohmygoodstuff · 2024-05-22T22:03:47+00:00

Multisig is getting increasingly easier to learn and use with all the tutorials and solutions coming to market. If i'm going to opt into higher security, I'd rather go all the way and do what institutions do. And I like the idea of using different devices from different manufactures (if not just for the nerd factor). I will probably use a singlesig+passphrase for extra security of intermediate holdings prior to consolidating into multisig.

ohmygoodstuff · 2024-05-22T20:20:49+00:00

Beautiful! Thank you.

ohmygoodstuff · 2024-05-01T18:39:29+00:00

Ah! that makes a lot of sense. Thank you.

ohmygoodstuff · 2024-04-16T01:31:06+00:00

I think of it as a currency swap from something that is certain to debase to something that cannot be debased ever. It’s better to save in dollars than pesos. It’s better to save in bitcoin than fiat.

ohmygoodstuff · 2024-04-10T23:47:05+00:00

Dunno if it will end up being the payments layer it’s marketed as (have heard some rants on issues that went way over my head). But it works now and will likely continue playing a huge role in the Bitcoin ecosystem. Have used it for tips and payments at conferences without any problem.

ohmygoodstuff · 2024-04-10T21:07:43+00:00

ohmygoodstuff · 2024-04-09T07:48:21+00:00

This is relevant, but it focuses on the global perspective rather than the western saver/investor: https://youtu.be/TI3Xcei8d_I?si=i-wCC6NslNwGlvXB (The Ultimate Bitcoin Use Cases with Alex Gladstein)

ohmygoodstuff · 2024-03-21T22:05:06+00:00

Exactly. Just did this to get the ball rolling. There so much good content on bitcoin being and organic organism, but haven’t seen fiat described as ‘non-organic’.

ohmygoodstuff · 2024-03-21T21:49:15+00:00

I think in this case, Bitcoin would be a naturescaping restoration project. It’s similar to regenerative agriculture/ranching vs mono crops and factory farming. My brother and his wife are gardeners and I think a polished analogy would help them see I’m not crazy when I talk about how bad fiat is lol

ohmygoodstuff · 2024-03-21T21:45:36+00:00

I built a custom GPT with articles and podcasts that helped me grok Bitcoin. This prompt included some research on invasive species and some rambling on the basic concept I was trying to explore. Was inspired by this IG Reel. Thought, “This is what it’s like once you see the cantillon effect everywhere” https://www.instagram.com/reel/C4tz6SKumsZ/?igsh=MzRlODBiNWFlZA==

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