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To Preserve Wealth Bitcoin is Your Only Move – Epi-42

The Bitcoin Breakout Posted on by

Podcast: Play in new window | Download (Duration: 1:56:22 — 33.3MB)

I was recently listening to Michael Saylors amazing presentation from BTC Prague. Michael was at his finest, leading me to an episode of The Survival Podcast and The Bitcoin Breakout. The statement that resonated most from Michael’s speech was,

“In order to preserve wealth, you must convert your assets into assets that are scarce, desirable, portable, durable and maintainable.”  ~Michael Saylor

Much like many of Michael’s insights, this is profound in its absolute simplicity and accuracy. The point he was making, and the one we’ll delve deeper into today, is that when it comes to preserving wealth in the modern age, you essentially have one move: buy and hold Bitcoin.

A common objection I hear to Bitcoin is, “I missed the opportunity.” Not only is this incorrect, it could be better expressed as, “I am currently missing the opportunity because I can’t see it.” And why can’t they see it? Honestly, it’s due to two factors:

  1. It’s Too Simple – People often seek complexity when it comes to building, holding, and preserving wealth. The simple instruction to buy Bitcoin, self-custody it, and not sell it seems so basic that the mind rejects it, much as Henry Ford said regarding why people fail to grasp the fractional reserve monetary system.
  2. People Confuse Building Wealth with Gaining Wealth – The perpetual search for “the next bitcoin” is evidence of this. The cryptocurrency gambling casino is teeming with individuals trying to get rich quickly. They’re typically less successful than the average craps player in Vegas. Building wealth, and safeguarding it, is a long-term game.

Regrettably, many fail to understand that just about anyone with a typical job or better in today’s world IS ALREADY WEALTHY; they just struggle to maintain that wealth over time and space. If you’re an American with any decent job and compare yourself to the majority of people in the world, you’re incredibly wealthy. Your earning capacity and quality of life would seem unfathomable to someone in rural India or China, for example.

Furthermore, the quality of life for many people, even those on various forms of welfare, is in many ways superior to that of a royal family member a few centuries ago. Sure, they had more “power,” but they lacked things like non-perishable food, a refrigerator, a freezer, a TV, air conditioning, electricity, a car, and the ability to travel by airplane.

So how can a society that has advanced so significantly in three centuries, such that a mechanic, a landscaper, or a welder lives better than a king did in 1700, have so little personal wealth?

In Saylor’s words, it’s because “there is a war on money,” and that war has one agenda: “to redistribute wealth.” If this brings to mind the conventional concept of “socialism,” you’re missing the point. This isn’t redistribution from the “haves” to the “have nots” but rather from the working class to the parasitic class. The bankers, oligarchs, and government are continually siphoning value from your labor and your savings. When viewed from this perspective, Bitcoin is your only move.

Join Me Today to Discuss…

  • You earn an incredible amount of wealth already if you have anything approaching a decent job
  • Making money and building wealth are not the same thing
  • Your quality of life is better right now than that of a member of a royal family from 1700
  • You fail to become wealthy because of four primary reasons….
    • Much of your earnings are required to live (food, shelter, energy, etc)
    • You have bad monetary habits
    • The cost of your existence rises along with your earnings
    • Inflation drains the money you manage to save and invest (they keep raising your quota)
    • The system absorbs 100% of every individuals wealth every 100 years
  • There is an “economic war” on all wealth, and it can’t not be fought with any form of “offense” you need a shield
  • War has always exited as long as any form of life has exited, life has fought for scarce resources (credit to Jason Lowery and his book, Softwar)
  • Let’s examine Saylor’s 5 characteristics of a way to preserve wealth, the asset must be
    • Scarce
    • Desirable
    • Durable
    • Portable
    • Maintainable
  • My 5 additions
    • Defendable
    • Exchangeable
    • Predictable (bitcoin is an economic constant)
    • Almost Infinitely Fractional
    • Uncensorable
  • If you want to grow and preserve wealth right now, you really don’t have a better option.

 

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* The Bitcoin Breakout is a production of The Survival Podcast

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