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.