How To Get Rich With Bitcoin? | Hashpower Academy

Video Transcript:

how to get rich in Bitcoin and crypto this is a quote that I hope resonates with you for life rich is measured in dollars wealth is measured in time it’s not what you can buy in the quantity of the money you have but it’s how long it will last you your income minus your expenses that Gap in the middle is your savings and how long those savings last you is based on your expenses if you uh get that $5,000 pay rise and then you go out and spend $5,000 on a new holiday to celebrate that’s great you’ll enjoy the holiday you’ll remember it but you’ve just set yourself back an entire Year’s worth of incremental gain that is to say that people have lifestyle inflation that they the more they earn the more they spend and that Gap in the middle stays the same so their wealth does not increase so when it comes to bitcoin how do you get rich in Bitcoin how do you get wealthy in Bitcoin well wealth is measured in time and what is bitcoin it’s money produced from energy preserved in time derived units stored on a database forever so it’s ability to preserve your energy from your work and your time converted into money well it’s also converted from energy and time into money and so you’ve got this asset that’s fixed in Supply so it’s scarce compared to all the endless dollars being printed and chasing it and the amount of endless energy and compute chasing to produce it and issue it when all these things come together you just get an asset that preserves your purchasing power over time and we’re currently in the Fiat world that is that the more you save and the less you spend you widen that margin of economic energy that you can preserve online forever now all these critiques of well how do you spend Bitcoin those will all be solved when electricity first was invented people didn’t conceptualize the complexities of us having power and lights and computers and all these different weird and wonderful one to many sorts of phenomenas um when it comes to cars the the first people that saw the car would be like well there’s no infrastructure there’s no roads there’s no there’s nothing it can it can drive on freely and now we’ve got freeways and highways and motorways and everything in between so with Bitcoin it’s it’s a technology phenomena for preserving your time and energy in something that will last forever in theor in theoretical terms relative to our present moment so getting rich and wealthy on bitcoin is Fiat Arbitrage at the moment that is to earn in the Fiat world and not be contented and distasteful as to the fact that this money is not backed by anything and not worth anything but convert your energy then and there into something that preserves and respects your energy and your time required to actually spend you’re spending your time in an employment contract you’re consuming a quantity of time for a quantity of money so you D well best preserve it in something that will gain purchasing power over time and the less you spend well the more you keep thank you for listening