He's deep in fiat mindset. He sees the inflation and wants to spend now before it becomes unaffordable in the future. Just like during the Weimar republic.
He needs help with reframing the future to a Bitcoin standard.
Shift the conversation away from Bitcoin and Ask him what are some of the things he wants to buy in the future. Example a house that costs $320k
Ask him if he'd be in such a hurry to buy that house today, if he knew it would only cost $220k in 10 years.
Ask him to consider the fact that the cost of the house is not going up. It's the currency, the USD, that is declining. It's the unit if accounting, the USD, that is being devalued, so one needs most USD to buy the same house.
Now show him a price chart of buying this same house using BTC, an alternative unit of accounting.
He will see that the cost of the house in BTC terms is less.... Because the value of BTC has increased!
He should hopefully come to the conclusion that he should buy and hold BTC, as it's deflationary and will protect his purchasing power. ...BTC will rise over 10 years whereas fiat will continue to decline.
I've attached a sample chat, but there are better ones (tables) that may be easier to understand.... you may want to find one of those and keep a copy on your phone 😉
Fiat mindset means high time preference. BTC is low time preference. Wealthy individuals understand long term value plays. Someone who is living paycheck to paycheck is likely only thinking of short term survival and how to get rich quick.
https://www.bitcoininflationindex.com/housing/
Lois 🧘♀️🫖✨🙏
npub17a0…tptf
2024-05-25 19:57:41
in reply to nevent1q…2mxm
Author Public Key
npub17a0glnlewhgdu6wuah5kwn7ewf649zu63ypq2pmyxh8y0z6uk6vqpttptfSeen on
wss://relay.noswhere.comPublished at
2024-05-25 19:57:41Event JSON
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"content": "He's deep in fiat mindset. He sees the inflation and wants to spend now before it becomes unaffordable in the future. Just like during the Weimar republic.\n\nHe needs help with reframing the future to a Bitcoin standard. \n\nShift the conversation away from Bitcoin and Ask him what are some of the things he wants to buy in the future. Example a house that costs $320k\n\nAsk him if he'd be in such a hurry to buy that house today, if he knew it would only cost $220k in 10 years. \n\n\nAsk him to consider the fact that the cost of the house is not going up. It's the currency, the USD, that is declining. It's the unit if accounting, the USD, that is being devalued, so one needs most USD to buy the same house.\n\nNow show him a price chart of buying this same house using BTC, an alternative unit of accounting.\n\nHe will see that the cost of the house in BTC terms is less.... Because the value of BTC has increased! \n\nHe should hopefully come to the conclusion that he should buy and hold BTC, as it's deflationary and will protect his purchasing power. ...BTC will rise over 10 years whereas fiat will continue to decline.\n\nI've attached a sample chat, but there are better ones (tables) that may be easier to understand.... you may want to find one of those and keep a copy on your phone 😉\n\n\nFiat mindset means high time preference. BTC is low time preference. Wealthy individuals understand long term value plays. Someone who is living paycheck to paycheck is likely only thinking of short term survival and how to get rich quick.\n\nhttps://www.bitcoininflationindex.com/housing/\n",
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