Rajat Soni, CFA

Most people reject #Bitcoin without studying it They think they're smart, so they expect to understand it quickly and easily So instead of digging deeper after things get complicated, they conclude that Bitcoin is a scam This is why thousands of hours of study are required If you don't put in the thousands of hours, you will always have doubts in the back of your mind It's pretty interesting that someone who studied Bitcoin for thousands of hours can see how little someone else has studied bitcoin I think @PeterSchiff is an example of a Bitcoin hater who hasn't put in the required hours to understand Bitcoin In fact, I think he has put in no time at all I don't think he's lying when he says he doesn't own bitcoin He doesn't understand it! He thinks we will go to a gold backed cryptocurrency Anyone who has studied bitcoin realizes how stupid this is... To back a cryptocurrency with gold, YOU NEED CUSTODIANS We would be right back to a fiat currency system because whoever the custodians are... Will collude with governments and you'll have your money confiscated again like in 1933 The point of bitcoin is to avoid custodians You can have a custodian hold your Bitcoin for you (eg. Exchanges or ETFs) But you have the option to hold it yourself! "But hou can take self custody of gold too" If someone has $10,000,000 of gold, would they feel safe keeping it in their house? If they need to leave their country for whatever reason, can they take that gold with them? A gold backed cryptocurrency BRINGS YOU RIGHT BACK TO CENTRALIZATION You would need trusted custodians to settle payments... The point of Bitcoin is to AVOID this Governments can capture financial institutions that hold customer funds much more easily than millions or even billions of people who have their own secret way of keeping their Bitcoin

Real estate and stocks are a scam but 99% of people aren't ready for this conversation yet #Bitcoin    will take over both of these markets over time Real estate is a way for governments to extract property taxes and for banks to earn interest Governments want home prices to go up so homeowners feel a false sense of security and pay more in property taxes over time Banks want prices to go up so they can hand out bigger loans and earn more interest Stocks are a way for Wall Street to earn profits When you can hold your own assets, you don't need the financial industry to hold them for you and governments also can't track your wealth How many people hold the deed their house or stock certificates? Probably less than 1% This means the financial industry owns our assets and it can take those assets away from us Stocks are held by custodians and they can do whatever they want with your wealth GME is the best example of this scam Hedge funds were shorting more shares than what was in existence They were intentionally trying to bring the stock to zero to maximize their profits Real estate should NOT be an investment but we've been brainwashed to believe it is We use real estate as collateral for debt The wealthiest people have hundreds or even thousands of units and they are being used as savings accounts When people buy more houses than they need, they compete with families who are trying to buy a house to live in This pushes house prices up and prevents people from having a stable living situation Bitcoin is an abstract concept and many retail investors get angry at the idea of it being widely used as a savings tool EVEN THOUGH IT WOULD DIRECTLY BENEFIT THEM

Investing in stocks and real estate makes you rich at the expense of anyone who doesn't/can't invest in stocks and real estate

How the average person lives their life: 1) Go to school for 20+ years 2) Go to work for 40+ years 3) Be free for 5-15 years 4) Die This is like the phrase "pay yourself first": The majority of people save what's left over after expenses Similarly, they live life in the time that's left over after working for someone else most of their life Change the narrative Build businesses in your free time instead of watching TV Buy assets with your income instead of spending it on useless plastic goods from Amazon Take the time to learn about personal finance instead of focusing on celebrity gossip You'll retire way earlier than the average, and you can spend ALL your time however you want

Inflation isn't a way to incentivize spending... It's a way to incentivize investing. A government's goal is to keep your wealth concentrated within its jurisdiction so it can charge taxes. 50% wealth taxes, property tax, etc. #Bitcoin takes this power away from governments.

Mike Tyson made over $500M in his career and he still went bankrupt If you can't control your spending you'll ALWAYS be broke, no matter how money much you make

Bitcoin is misunderstood by most people because almost nobody has thousands of hours to learn the following topics in depth: - Why gold was money for thousands of years - Central banking - Fractional reserve banking - Executive Order 6102 - The Nixon Shock - What is fiat currency - Money creation in the legacy financial system - Bitcoin supply and demand - Decentralization After you put in the time, it becomes obvious that decentralized uncorruptible money is where the world is going. Before you put in the time, it seems like buying Bitcoin is like buying air.

There are former professional athletes who are broke and miserable, after a career that earned $100m. If you don't get serious about cutting back on your expenses, you can never truly be free from financial obligations. This applies whether you earn $500 or 8 figures a year!

"Trying to sell the rest of my #Bitcoin    in Japan. I'm tired of crypto and want to get out (and get my JPY back)."

Financial institutions rely on you NOT understanding how money works. When you become financially literate, you realize that: 1) Earning 1% from your savings is very low 2) The 20% interest rate on your credit card is too high 3) Not saving means you will likely work forever