75 sats \ 13 replies \ @Nuttall OP 4 Apr \ parent \ on: My Speculative Fiat Attack Fantasy is Over! bitcoin
I'm with you, but my realization is that to think I can do a speculative attack without understanding my spending habits of the currency -- that is the liquidity that loses power fast but keeps a score on a sheet -- in other words, I'm not so smart to accumulate Fiat currency debt without keeping a score on my spending...
I hope that makes sense. It's my own realization and also I need to pay attention to my Bitcoin, too!
Here's something I have done for years. This is not financial advice and I'm not recommending anyone else do it. If you have decent credit, you get 0 % finance offers for credit cards in the mail. If you have a lot of credit card debt at high interest, those offers can help. BUT, and it's a big but, keep this in mind:
1 They are not really 0 %. They charge anywhere from 3-5% up front. It's still a good deal, particularly if the pay back term is more than a year.
2. Set up an autopay for as much as you can afford monthly, and always in excess of the minimum payment due. If you don't make monthly minimum payment, you will lose the interest benefit immediately.
3. Make note of when minimum payment term ends. Then, either plan to pay off the remaining principal before that date, or roll the balance into another 0% offer.
I have bought bitcoin using this method more than once.
reply
I did this but I lost focus and I could not keep score anymore. I had to shut out all the media and wasted energy. This was 2020 to 2021.
I'm excited to have a good view of my mistakes and what I can do to move forward.
It sounds like you were keeping very good score. This is critical. I venture to class myself as retarded.
Getting rid of the chaff is important.
reply
I'm humbly listening.
reply
reply
LOL ..the truth so funny! the humbling feels
reply
It's humbling to get older and realize how many of the ways that you think were you being a virtuous genius are kind of like that -- hitching your coattails on something you didn't control, getting benefit from it, then looking around contemptuously at all the idiots who didn't fall into the same good fortune.
There's definitely a place for really owning your mistakes and your successes. But the more common mistake by far, in my experience, is to misattribute them.
reply
reply
This makes me think of the old, wise master who said, "Stay humble, stack sats."
But really in Sanskrit the phrase is/was "Sat Chit Ananda." Which is "Truth, Awareness, Bliss."
reply
Well said!
reply
I think it goes back much further. Robert Breedlove's piece on "Masters And Slaves of Money" is a good exercise on understanding debt and money supply.
For me the key is that keeping score is still necessary because I've assigned my signature to that and thus I'm going to work it out one way or the other, unless there is a jubilee.
The lending and dumping of cheap money is also as much my responsibility by demand or accepting it.
reply