2021-05-10 09:37:37
Ignorance is expensive
This quote my mom said.
I would love comments...this story is told from a late 30s/older millennial perspective. I bought my first bitcoin in 2017 using gbtc and had no clue what it was. I am not super rich, but I own a home, have a retirement, and am a much bigger risk taker-or so I thought-until this year.
I'm so frustrated-my friends want to be ignorant. It sucks. 50% would rather watch baseball and basketball then take 1 day off and watch an interview. I love the nba but I want floor seats.
Financial reasons are NOT the reason many of my friends don't own bitcoin. Many are single earners making $150k a year or more and have over $100k in the bank. They don't own because they fashion themselves smarter than average and refuse to listen to idea and they think buying is risky...yet they hold cash. Infuriating.
If I could go back 20 years here's the advice I would have told myself. If you know someone that is good at something, ask them for advice. Ignorance is expensive.
That one friend who is always put together? Go talk to him-you'll learn he actually spends very little money, but everything is always perfectly clean.
The friend who has 5 properties? Go ask her how she did it. You might be surprised she started in the ghetto and figured out how to get a loan as owner occupy and then move after a year. You might learn she put 5%-10% down and made a lot more in equity and gladly paid the mortgage insurance as it was $100,000 of equity gain versus $4,500 of MI.
I have friends who refuse to even ask. PRIDE IS A MOTHERFUCKER.
If you are in crypto-and I assume you are-open your mind. That doesn't mean you have to agree...but I will tell you I have friends, great friends, who have been sitting on a bus stop for 7 years waiting for a bus that isn't here.
https://redd.it/n8uvyl
@r_bitcoin
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