The Second Most Valuable Asset and Opportunity of Our Lifetimes
Yes, I believe that bitcoin is both the second most valuable asset and the second greatest opportunity of our lifetimes (the first is that 3 lb. mass residing between your ears which can be developed here).
In regards to bitcoin, I will start with the following first principles:
Principle #1
Your property is the product of your Life Energy (time, energy and talent) and is therefore an extension of your self. If someone attempts to take your property against your will, it is a direct attack on your life and these actions are considered “anti-life”.
Principle #2
Just like the Law of Gravity, people and their money tend to go where they are protected and respected most.
Principle #3
The recognition of principles #1 and #2 provides an opportunity to profit from this knowledge.
Why Bitcoin
Bitcoin is a fixed supply, digital asset that is divisible, decentralized, censorship resistant, private when used correctly, and easy to protect and transfer across space and time. These characteristics make bitcoin the second-best asset and money that the world has ever known. It will therefore become the world’s second most demanded asset.
The Opportunity
You can still acquire bitcoin before most people discover its unique properties. This means that you can profit exponentially from the inevitable wealth transfer that will take place as people transition away from inferior assets. People will do this out of pure self-interest and self-preservation.
The earlier you acquire bitcoin, the greater you will profit. Eventually, everything will be priced in bitcoin. Until then, this is how you will know that you are still early.
Bitcoin Quick Start Guide
Step 1: Set up a wallet to send and receive your first bitcoins. Here are the three I recommend:
- CoinOS.io – this is the fastest, web-based wallet to set up. All you need is to create a username and password and you are ready to go. Also great for small businesses to quickly begin accepting bitcoin and Lightning payments. One shouldn’t leave large balances on this wallet as it is a custodial wallet which means they hold the coins for you until you spend or transfer them out. Therefore, I recommend that you transfer funds larger than pocket change to:
- Green Wallet by Blockstream.com – for phone or desktop. This wallet is built by one of the most trusted companies in bitcoin. It allows you to create both a bitcoin wallet and a Liquid wallet (for holding Liquid-based tokens as well as the Tokens of Authenticity that accompany my artwork). This wallet gives you full custody of your bitcoins (private keys) and it is great for carrying your “walking around” money. For your largest holdings, I recommend using:
- Jade Wallet by Blockstream.com – this is where you can store your largest sums in the most secure fashion while still having full control of your private keys.
- There are many other wallets that others recommend but the 3 above have served me well and are a great place to start.
Step 2: How to get bitcoin
- Accept bitcoin in your business
- Trade with a friend
- Buy and Sell my art for bitcoin
Step 3: Learn more
- An excellent place to start is Saifedean.com. I recommend his books starting with The Bitcoin Standard; his podcast, and his YouTube channel.
- NakamotoInstitute.org – especially the articles in The Memory Pool.
- Learn more about Economics and Liberty.