What Are You Doing with Your Bitcoin?
Bitcoin has changed my families life and I know it has helped many of you as well. When I was growing up my family taught me that we must pay ourselves first. This meant taking a portion of my earnings and immediately put 10-30% away for a rainy day.
Back then you could keep your fiat money in the bank and earn interest on it but today you are punished through a nefarious tax called inflation. If you keep your fiat money in savings your buying power decreases steadily over time.
Bitcoin is Deflationary.
Bitcoin over time will be created less and less until we get to the final amount of 21 million BTC. This is highly deflationary! Credit Suisse estimates that there are 35 million millionaires on the planet. What happens if they all want one whole Bitcoin? My point is there is going to be a point when the world is going to rush into Bitcoin.
What I do with my Bitcoin.
- We Take a portion of our earnings buy Bitcoin.
- We buy every week and do not worry about the value fluctuations.
- We store our Bitcoin offline.
What I do with my fiat currency.
- We keep just enough to pay our bills.
- We pay contractors.
- We go to the casino!
