Rajat Soni, CFA

Rajat Soni, CFA's avatar
Rajat Soni, CFA
🛡️ rajatsonifnance@nostrcheck.me
npub13wl6...np8z
🎯 I'm the Bitcoin guy 💼 10 years of finance industry experience 🧠 1 BTC = ∞ USD
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
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.
The cost of living will rise forever. But why? There's a very simple explanation: The amount of money chasing the number of goods available to be consumed is rising. Let me give you a simple example: Year 1: you have 100 apples and $100 in the economy, the price of an apple should be $1. Let's say because of technological innovation we can produce 110 apples in year 2. The supply of apples has gone up but the amount of money chasing those apples stays the same. The price *should* decrease to ~$0.91. What happens if the amount of currency in the economy increases faster than the number of apples? What if apple production can't keep up with money production? Year 2: 110 apples, $120 in the economy. The price of apples rises to $1.09. I know this is overly simplified and there are a lot more factors to consider. But as the amount of money in proportion to the number of goods increases, we see prices rise. When the US government borrows trillions of dollars, what is that money being used for? If it's not spent on investing in production, PRICES WILL RISE. Maybe we won't see the impact in the short term, but over the long term, this results in a decrease in purchasing power. The same amount of money can buy fewer goods because there are more units of currency than goods in the economy. We are seeing this happen in real-time! Apples haven't gone from $1/pound to $1.09 per pound. They've risen 3-5x. I remember when apples were $0.79/pound and now I see them at $2.49-$2.99/pound. Today, there are so many ways that money enters the economy, and this wouldn't be a problem if it were used as an investment to increase the quality/quantity of goods. But it's not. Instead of being invested, the new money is being used to incentivize a DECREASE in production. Governments incentivize citizens to STOP BEING PRODUCTIVE! Social security exists to incentivize retirement (a period where people spend but don't produce). Tax benefits on real estate are used to incentivize purchasing homes to make money (instead of producing other goods and services). Billions are spent on the military and this spending leads to death and destruction instead of prosperity (taking away labor from production of goods and services). This is why your cost of living constantly goes up. For every action, there will always be an equal and opposite reaction. When one group gets to make decisions and take action without putting in the work required to make it happen, someone else has to work twice as hard to do the required work. Instead of teaching kids how to invest, governments offer free money to retirees. By the time Millennials and Gen Z are supposed to receive social security, the benefits will be worthless because all of the value will have been extracted already. When real estate investors are told to buy homes because of tax benefits, the supply of homes in the economy for people who want to buy them to live in decreases. When the military receives billions of dollars to train members on how to kill others, those members are NOT producing actual goods and services that society needs. All of these resources (labor, raw materials, goods, and services) are taken away from other parts of the economy. Since you can't print resources but demand is essentially unlimited (as population grows so does demand), prices have nowhere to go but UP. Instead of investing in the future, governments incentivize spending and then promise to pick up the slack for people at an older age. Governments get to print the money we use today. They will print forever. Prices will rise forever. You must either defend what they do and learn to deal with the consequences, or you can do something about it. "But I have no control over this!" STUDY BITCOIN. The supply of everything else can increase, but there will never be more than 21 million Bitcoin. Prices will always fall when you save in Bitcoin!
Baby steps apply everywhere, whether it's personal finance or fitness. Going to the gym for the first time and trying to bench 800 pounds will make you feel terrible. You probably won't go back. Lifting 80 pounds instead might actually make you feel good and keep going back!
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.