BR #29: Buying Bitcoin is hard

(2-minute read)

Reminder: 6 months are left till the halving earthquake. Traditional asset holders will suffer at least 75% of wealth losses. This wealth won't disappear, it will be transferred to Bitcoin holders.

As this wealth redistribution event approaches I warn people about it.

I urge them to #StudyBitcoin and act before their fiat wealth melts.

Some take action, others resist.

But they all face different difficulties.

Below are two real stories of real people:
- one of them resists;
- the other takes action;
(all names are fictional).

The story of resisting

Bob is 29 years old.

He recently married and had his first kid.

He recently sold his apartment as it was too small for his young family.

He is now looking for a larger apartment....but they cost way more than he can afford.

And so he is now looking into using the proceeds from the sale to build a house.

I preach to him:

Bob, instead of just spending all your cash and 2 years of time on building a house, find a way to grow this money.

I have been speaking to you about this Bitcoin thing forever.

I have built a whole masterclass so you can deeply understand it.

Buy some bitcoin, hold it, and sell 50% of it when its price doubles.

Use the proceeds to fund your home easier.

 I am your friend, you can ask me 1000 questions to understand why I have such a high conviction this decision can be very profitable for you.

He reverts:

"Sounds great, but I don't like taking the easy way. I like taking the hard way."

Moral of story: making the non-conventional decision to buy Bitcoin can be very hard.

It can be especially hard when you are in the position of Bob.

His close ones think buying Bitcoin is a gamble (while having zero clue what is bitcoin).

It takes an open mind, curiosity, and courage to do the research, to make the non-conventional decision, and to commit to it!

To commit despite the mocking and critique, Bob would get from his close ones.

That is f*cking hard.

Real hard!

It is way harder than just taking the widely accepted conventional decision.

But Bob is not ready to take the hard path.

He is taking the mainstream easy route (and is deluding himself that this is the hard path).

The story of taking action

Alice is 33 years old.

She took my Bitcoin Masterclass.

Her net worth is €400k (real estate, bank deposits, and some stocks).

She decided to convert 5% of her net worth into bitcoin: that would be €20k.

She started sending € from her bank account to a crypto exchange.

She sent it in several small tranches so that she does not attract much attention from the banks' staff.

But it turns out the bank triggers a red flag if you send more than €15k/month out of your bank account.

The bank asked her to prove the source of her funds and to show her crypto exchange account.

What a nightmare...to be treated like a criminal just because you want to buy some bitcoin.

Alice is still going through the process of explaining herself and providing documents....

Moral of story: moving assets from the traditional financial system into the Bitcoin system can be hard.

It can get especially hard if you want to do it faster with larger amounts.

And Alice is trying to convert a relatively small amount of €20k.

Imagine if she wants to convert €200k?

As the halving earthquake triggers a huge financial tsunami in 2024, many will wake up to Bitcoin's uniqueness and will likely face difficulties in buying Bitcoin....not to mention that they would likely be buying at a significantly higher price.

Till next Saturday!

Whenever you're ready, there are 2 ways I can help you:

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