Lamar Wilson
speaker
78 appearances
1 recordings
1 series
first heard Dec 2021
last heard Dec 2021
Lamar Wilson’s voice in public audio — every appearance, attributed to the second.
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Appearances
It makes it extremely powerful.
And so we try to focus on that part of Bitcoin as an alternative to a financial system that hasn't always worked in our favor.
The biggest gap, I think, usually comes from the fact that people have heard of all of these other cryptocurrencies and they tend to put them all in the same bin.
So they make Bitcoin the same as, say, a Shiba Inu or something like that.
That's a meme coin that's meant to be fun and just be a meme.
I think that's the part that is the biggest learning curve in the gap, because people just think that because they're digital assets, they're all the same.
And it could be further from the truth.
And so we spend a lot of time educating on why Bitcoin,
Bitcoin is completely different than something like a Shiba Inu.
A lot of times we'll say only invest what you can afford to lose.
And so the reason why we say that is because we know it's extremely volatile.
And we also realize that because of its volatility, that people will probably sell before they even get the benefits of actually holding on to it.
And so we say, listen, use this as a savings account that you're never going to touch.
It's almost like buying a piece of land in Manhattan in the 1700s.
If you could put $5 a week towards a piece of land in Manhattan in the 1700s,
would behoove you to hold on to it and to keep it until for generations to come and allow your family and friends and everyone else that you love to partake in that land moving forward and be able to use it as collateral so that's what we talk about in bitcoin we say listen use the money that you can afford to lose the money you were going to buy your coffee with or the the extra money you were going to spend on netflix or whatever right these ex this extra amount of money don't go putting your life savings in it your mortgage money none of that don't make those huge bets
And then if you want to, you can.
But we just say it's probably better for you to dollar cost averaging and make sure that you own it, own a little bit of it over time and not try to just completely take a huge bet on it.
Because if you put the money you need into it, you're more likely to get rid of it before it even gets the value that we think is going to be shown in the future.
Yeah, many members are extremely happy.
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