Pricing Your Life In Bitcoin

LeoFinance
9 Min Read
1767 Words


The longer that you have been into bitcoin; you will find that you begin to think about your portfolio in a very different way. In the beginning; you most likely were basing your holdings on how many dollars your portfolio was worth, or the currency for your respective country. When thinking about your holdings; there's a high likelihood that you were thinking in dollars. "I have $5,000 worth of Bitcoin." Or you have had thoughts of portfolio goals that you hope to achieve in the future. It might sound like this; I hope to reach $100,000, or $1,000,000 or I need this amount of dollars to retire. Each and every one of us has probably had those type of thoughts since we've entered the bitcoin space.

But as I alluding to above; after you have been in the bitcoin market for quite some time your thinking begins to change. When you have finally truly figured out what bitcoin is; the qualities that make it so great, the potential it can bring to the world, the mishandling of government fiat currencies, finally learning what money is; that is when your life is completely changed forever.

When that moment does happen there is no going back to how you thought previously. You will have achieved a level of financial education that unfortunately most people will never will reach. You will have learned the secret that just saving fiat cash will most likely not make you rich. Investing in appreciating assets is the answer. You begin to think less in fiat currency prices and begin to price everything in Bitcoin. Not only your portfolio, but everything in the world, around you and in your life.

If you truly want to make it out of the everyday rat race of going to work it is imperative that you begin to incorporate that style of thinking into your life. While it may seem like an out-of-the box way to think about things, it is something that will change your life forever. So let's talk about why you should price your life in bitcoin. The benefits that it will bring, and how it will change your life; possibly making you rich someday in the future.

As I mentioned above; nearly everyone had a goal in mind when they decided to enter the bitcoin market. Perhaps you were looking for an opportunity that would help you to pay off your debt; be it student loans, credit cards, cars, or any other type. Maybe you had a dream of buying a dream house for your family. Or you were looking for just any way that could change your life from bing paycheck to paycheck and give you a cushion in life. Whatever your reason is; you probably had a dollar amount in mind that you would definitely sell at. I remember thinking that my goal was to make enough from bitcoin to eventually retire and live the life that I have always dreamed of. While that is still my dream, I will tell you later on for how that thinking has evolved.

But, a funny thing happens when you enter the bitcoin market. Once you have invested into it, and have skin in the game; this market takes a hold of you unlike almost any other out there. For most people you cannot begin to understand it, until have have begun to invest into it. Once you do; you get bitten by the "bitcoin infection." While I called it an infection, it is more like your mind being opened up to reality just like Neo's eyes were finally open to see the real world in the movie; The Matrix. Once you have this infection you somewhat become obsessed with it, and cannot stop thinking about it. This involves wanting to learn as much as possible, invest even more into the asset, spread the knowledge to others around you, and your financial thinking will be forever changed. When you entered the market you thought about how many dollars you would need to cash out and live a great life. But once you have reached a certain level of bitcoin knowledge you will know that you won't need to.

Why won't you have to? Well that is a discussion that I will talk about another day, but to summarize that thought would be to say that with the current trajectory that bitcoin is on. It isn't out of the question to say that in the not so far future; bitcoin could actually bitcoin the world reserve currency. Using bitcoin to pay for everything would be as simple as using dollars is today.

But why would that even happen? Frankly put; bitcoin is the strongest for of money we have ever seen. Stronger than the dollar, the pound, the franc, yen, gold or anything that has come before. With all those forms of currency suffering from being inflationary. Meaning that over time your currency is become less and less value. You are actually being punished for saving cash. There is a famous phrase among investors; saying that cash is trash. You need to be investing your earnings into appreciating assets in order to outrace inflation and therefore actually increase your "real" net worth.

While this image is a little old now; it still helps to get the idea out there. By just holding onto your money you are actually being poorer.

Now think about what has happened throughout the world during the last year. Unprecedented money printing in nearly every country; especially the United States. This has started the fear that the rate of inflation will be sped up to rate that the worldwide market hasn't seen before. Meaning that your money will be losing value faster than ever before, and making it even more imperative for you to find a way to beat inflation.

This is where bitcoin comes in.

Unlike the dollar; bitcoin is a deflationary asset. Every four year when the bitcoin halving occurs; that causes the newly made bitcoin to drop in half. In a little longer than a hundred years later all of the bitcoin will have been mined. In fact, out of the maximum 21 million bitcoin, over 18.5 million have been mined. Meaning about 90% of all the bitcoin there ever will be, has already been minted. Just last year in the United States; 20% of all the dollars in the supply were printed. In just one year. This is what bitcoin protects you against.

While technically bitcoin is of course an investment. But the longer that you are into the bitcoin space; the more you just consider it your savings account. It is an asset that actually rewards you for saving. Just look at the above picture. With every year that passes; your BTC purchasing power is increasing and going much further than ever before. It gives the regular person who just dollar-cost-averages into bitcoin a fighting chance to build savings and have a future.

Once you have figured out this fact is the moment that you want to begin pricing everything in bitcoin. Your salary, your assets, expenses, things you buy, things you sell. Everything.

Unfortunately; there is one sad thing that you will come to realize once you begin doing this. That your work salary is bringing you less and less BTC every year. While the dollar purchasing power is becoming weaker every year. BTC's purchasing power is becoming significantly stronger. Just a handful of years ago you would have only been able to buy an Apple iPhone withy 1 BTC. But now you could get a Tesla with the same BTC and still have extra left over. Just imagine what could happen a few years down the line.

You may hear people worried about the price of bitcoin and it's volatility. But always remember that one bitcoin is one bitcoin. That fact will not change; and it will only continue to do much more for you. Personally I keep a balance sheet of my net worth updated at all times. This includes all my assets, expenses, liabilities and so on. I have one of these sheets in dollar terms. But I also have the same sheet in bitcoin terms. With where I think bitcoin is heading towards; I believe that the real game is getting as much bitcoin as you possibly can. Why might you do this? Why wouldn't you keep a balance sheet in the stronger currency?

After I began doing this; it had a profound affect on my life. When I went to the store, or was shopping online or considering purchasing anything. After calculating how much BTC that item was; it had me re-thinking everything. Is this an item that I need? Could I not buy the item and instead invest it into bitcoin? I did this with everything. Not only that, but things around my house as well. How much bitcoin is this item worth? Do I really need this item? In both situations I would usually determine that I didn't need the item in question and would instead invest that "money saved" into bitcoin, or sell the house item and also put that money into bitcoin. It helped to multiply my BTC portfolio quicker than I thought possible.

Even if you weren't to put that money into bitcoin; I do feel by valuing everything in BTC terms; it will help you become much better with your money. Once you know what money is, what is happened around the world financially, and know what to invest in. Those are 3 things that most people do not know how to do and is putting you on the correct path towards achieving financial freedom. Above I stated that my initial goal when entering the bitcoin market was to eventually sell all my BTC for cash and live out my days on a tropical paradise. While personally that end result is still my personal goal. I no longer am planning on selling my bitcoin. Instead I am using it in other ways to generate more bitcoin and using the gains against it without selling to buy whatever I need; all-the-while remaining on track to achieve that goal.

The secret is really easy. All you need to do is buy bitcoin, and hold. Everything else will fall into place.

So how about you? Has bitcoin changed how you thought about money? Have you begun pricing everything in terms of bitcoin? And what is your bitcoin accumulating goal?

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As always, thank you for reading!

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