QUESTION: How do you benefit from Bitcoin if spending it means you no longer have it?

00:02 How do you benefit from Bitcoin if spending it means you
00:04 don’t have it anymore. Well, great
00:05 question. The key here is time
00:07 preference. The goal is to spend your
00:10 Bitcoin at a time later than when you
00:12 bought it. Obviously, if you spend it 5
00:14 minutes after you bought it, you don’t
00:15 benefit from it because then you had it
00:17 and then you don’t. Uh but as with any
00:20 savings technology, and Bitcoin is a
00:22 savings technology. It’s a kind of
00:24 investment that is a also a savings
00:26 technology. The goal is to buy it and
00:28 sit on it for as long as conceivably
00:30 possible. As you will always hear me say
00:32 very frequently on my videos, buy as
00:35 much Bitcoin as you h can and sit on it
00:38 for as long as conceivably possible. The
00:40 and sit on it for as long as conceivably
00:43 possible is the key part because when
00:45 you’re sitting on it over enough time,
00:47 it appreciates in value. And with enough
00:50 appreciation in value, ultimately you
00:51 can spend the appreciation rather than
00:55 spend your uh sort of the core amount
00:58 that you own. Of course, that means your
01:00 total amount of Bitcoin goes down, but
01:02 it means your purchasing power goes up
01:04 over time. So, for example, if you buy
01:06 $100 and you spend it the next day, it
01:10 might have gone up and down a little
01:11 bit, but your purchasing power probably
01:13 didn’t change that much. If you buy $100
01:15 of Bitcoin, you wait a year or two or
01:17 three or four or five and it goes up to
01:19 $150 or $200 or even $110 and then you
01:23 spend it. You can spend $10 or $50 or
01:25 $100 or $200 and still have $100 left of
01:30 Bitcoin. And that’s what I’ve done. I’ve
01:33 I put 18 months of living expenses in
01:35 Bitcoin back near the market bottom of
01:38 2022 because I was just looking for any
01:40 conceivable excuse to buy more Bitcoin
01:42 while it was that much on sale. And I’ve
01:45 been living for free ever since because
01:47 the 18 months of living expenses, the
01:49 the US dollar value of that is growing
01:53 faster than my living expenses. So what
01:56 started as 18 months of living expenses
01:58 now is 3.5 years of living expenses.
02:01 even though I’ve lived for free for 2
02:03 and 1/2 years. So I’ve lived for two
02:05 free for 2 and 1/2 years, two extra
02:08 years of living expenses on top of the
02:10 original 18 months because again I’m not
02:13 spending I I I’m not spending it when
02:16 it’s valued at the same amount of when I
02:18 bought it. I’m spending it after it
02:20 appreciates. And the more it
02:22 appreciates, the more opportunity you
02:24 have to spend it and still have a
02:26 significant amount left over. So that’s
02:28 the goal of everybody who buys Bitcoin
02:30 is to buy as much Bitcoin as they can,
02:32 hold on to it for as long as conceivably
02:34 possible, which then allows the
02:36 purchasing power to appreciate as much
02:38 as conceivably possible, so that when
02:41 you do get around to spending it, you
02:42 have as much wealth as possible, so that
02:45 when you’re done spending it, you have
02:46 as much wealth left over still as
02:49 possible. So hopefully all that makes
02:51 sense. Enjoy the beautiful day. Thanks
02:54 everyone.