Using Bitcoin to create wealth quickly

[heavy_industry]

Just because you don't have 100% control in business doesn't mean it has the same amount of control as investing in bitcoin.

^ To add to this:

You'll never have 100% control over your business or the outcome of your life, because we are on a floating rock in the middle of emptiness, and we are at the mercy of the elements.

If the big boss decides that tomorrow at 10 AM PST we'll have a business meeting with a 5-mile-wide asteroid, that might negatively affect your sales for the next quarter - many dinosaurs have gone bankrupt for this reason.

---

The economy is like a horse race.

It's highly unpredictable, offers no guarantees that you'll win, and might result in personal injury.

If you're going to play this game, you should, at least, bet on your own F*cking horse.

Nobody will or can guarantee that you're going to win. But at least you get to feed and train the horse yourself. It can't and it won't get any better than this, in terms of how much control you have.

Betting on X technology or company is just that: betting, gambling.

It's wishful thinking.

It's covert victim mindset.

You're waiting for Prince Charming to come and save you, while looking and praying at some charts, like a F*cking moron.

 

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[Tau Ceti]

it’s a shame that MJ doesn’t (quickly) discuss cryptocurrencies and how to use them to build wealth. In my opinion, this can be a way to accumulate wealth very quickly. If you go in with $200,000 at the right time (when prices are crashing), you can come out a millionaire.

He doesn't talk about because it violates all the principle of TMF .
You have absolutely 0 influence on the price of BTC. It could be worth $1M USD in 5 years or 0.

On the other hand if you have a business that generates cash every month then you do not need to rely on BTC increasing in value to live a great life and you have an asset that you can sell.

I learned that crypto follows four-year cycles, and my goal by 2028 is to set aside $150,000 (through my fastlane business) so that when prices crash, I can buy as much as possible , and during the bull run, I sell. and reap significant profits.

Really? says who? Everyone and their dogs have a theory about BTC. it is impossible to time the market and even if it was, do you think people would be sharing this info with you? Of course not. everyone who pushes ideas like this have something to gain from it.

Maybe they want to sell you a course, some kind of MLM or maybe they are invested so deep into it that they want to increase to price by making thousands of people buy it.

There is no way to know so don't rely on what the experts say.

I believe this strategy works.

How do you know? How much did you make in the last bull run?

So my plan is to set aside $150,000 to $200,000 for the next cycle. Let me know what you think and how you see Bitcoin and cryptocurrencies for wealth creation."

Then to do this you need to create a valuable business. Forget about BTC. Create a business, create wealth and then in a few years time, you can decide if your plan is still worth doing it. Until then this is all mental masturbation.

So get started today.

 

[MJ DeMarco]

What does MJ think of Bitcoin?

MJ thinks you are wasting your time and delusional.

"Most people can't be told that the fire is hot; true understanding comes from getting burnt."

Go ahead my friend, step into the fire.

 

[heavy_industry]

it’s a shame that MJ doesn’t (quickly) discuss cryptocurrencies and how to use them to build wealth. In my opinion, this can be a way to accumulate wealth very quickly.

Yeah, it's really a shame.

The book should have covered other reliable wealth-building mechanisms, such as roulette, poker, and slot machines.

They meet every requirement mandated by CENTS, especially Control - since the future is highly predictable.

 

[Tau Ceti]

Solana went from $8 to $110 in less than 365 days. If you had invested $100,000 when it was at $8, you would have become a millionaire when it reached $110.

That is the problem with your logic right here.
It's based on a bunch of "if"s

If it increase from $8 to $110...
If your house increases in price by 10% each year...
If your boss gives you a promotion or if you don't get fired this year...

Instead of waiting to be lucky, you can choose to make your own luck and then capitalize on it.

If instead of saying "if" all the time, you decide to take the matter in your own hands then luck becomes irrelevant.

You want to invest in the stock market?

Fine, then create a business, use the cash-flow to fund your lifestyle then invest the rest in stocks and in 5 years, you will the stock price increase plus the business generating income.

Same applies to bitcoin, if that is your plan.

This is what Peter Levels does. He has 3 business which generate cash each month and he invests it all. As of last week according to his tweets he now makes 1/3 of his money via the stock market(roughly 100K a month)

But he wasn't lucky and he did not wait for the stock prices to increase, he went out and create multiple profitable businesses.

 

[Oso]

So when was it created? If it wasn't in 2009, I'm very curious to know.

I don't know. Nor do I know who made it. What I can tell you is the first time I heard of Bitcoin was the same day I first used the dark web.

And the first day I used the dark web was when I was 11. I was 11 in 2000. I'd bet any amount of money it had been around for decades prior to that. Back then, Bitcoin was only used to buy shit off of the dark web.

Literally anything you wanted could (and still can be) bought via the dark web and bitcoin.

In regards to who made it, I've heard names over the years, but as far as I know, the names always ended up being bs. Any time I searched, all I'd get is "some Chinese guy," or "some Russian guy," etc.

While I'm not one for conspiracy theories, I do believe Bitcoin, the blockchain, some other cryptos, etc. have been around since the birth of the internet. I'd bet any amount of money it was government-funded. You can deep-dive into this upon going through the history of the internet.

Unfortunately, wherever and whenever there is human innovation, there will always be other humans looking to use said innovation for evil.

Solana went from $8 to $110 in less than 365 days. If you had invested $100,000 when it was at $8, you would have become a millionaire when it reached $110.

Yes, I know. I know because I made money off of it. Did you? Or are you proving my point? I can give you 5-10 other examples of this happening as well. That doesn't mean it'll happen to you, nor does it mean it's a reliable system.

That said, you're specifically referencing Bitcoin in this post. You missed the Bitcoin boat.

Ultimately, to me, all of these "I just want to invest posts" really just scream out "I don't want to have to learn any type of actual skill, or do any type of legitimate work."

But hey, man, if you want to go the crypto route and *hope* it works out in X amount of years, I'm rooting for you.

However, while you chill and hope, we'll be making money off of our businesses.

Cheers.

 

[MJ DeMarco]

but that doesn't mean I consider my thoughts to be foolish.

Of course you don't consider your thoughts foolish which is why you started this thread; but I'm telling you (and others) that your "idea" IS FOOLISH.

But go ahead, step into the fire thinking your special sauce is anything new, or novel.

It's not.

Ultimately, to me, all of these "I just want to invest posts" really just scream out "I don't want to have to learn any type of actual skill, or do any type of legitimate work."

But hey, man, if you want to go the crypto route and *hope* it works out in X amount of years, I'm rooting for you.

However, while you chill and hope, we'll be making money off of our businesses.

X1000 = money chasing.

Everyone has a dream to simply click "Buy" and 10 years later, they're wealthy beyond measure.

This is why lotteries are played by millions.

 

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[Spenny]

I invested in stocks for a while and thought the same way: "Ah, but stocks will bring me to the Fastlane" - nope. Never was, never will be & never should be.

I only invested in stocks because they should have an intrinsic value - crypto has no use except for the black market. But my experience of stocks vs business? I've found making a business to be so much more straightforward.

Perhaps if you're in microcap, you'd make a sizable return, but the main problem I had with investing was that you'd get into wraps with SO MANY factors for a silly 10% gain on your £1000. You'd do hours of research & predictions to have a factor come out of left field or the management being plain stupid.

Great things about businesses:

• you don't have to listen to whatever the FED farts, or what XYZ analyst is babbling about or the hundreds of sell-side analyst sheep. You don't go around in loops of "What's my diversification split?" or "Mmm, should I sell or buy because it's XYZ price??"
• Value creation is easier. You can implement new products/features/marketing/value skews and immediately generate value. A stock certificate sits there and looks pretty.
• Most importantly, you can provide FAR MORE VALUE & hence the return is greater. 20% is an AMAZING return in the stock market. That's great if you have +£1mil to play around with, but if you're starting, a £100 gain doesn't move the needle for Fastlane. Multibaggers are rare in stocks and are only maybe 2x/3x. A good business can easily do that.

The other gripe I have in stock investments is that they are riddled with schemes to fleece you. Crypto is far worse.

• Sell-side analysts are biased to put a buy rating on stocks because they benefit from your transactions.
• YouTubers sell their private investing community with no track record of actual returns.
• There are all sorts of crappy investing courses.
• There are a lot of CEOs who will serve up cool aid for you to drink & fleece you of your capital.

So not only do you have to sift through if a stock is good, but you have to search if the information you're receiving is good.

The only form of investing that makes sense to me is dividends with a lump sum.

• Pick a boring company (can manufacturers, soap detergents, real estate) - make sure an idiot can run it because, at some point, it likely will be one.
• Get a 5% dividend yield alongside some stock appreciation, and then have those companies pay you a salary from your lump sum.
• These companies are so dull that they will likely be pretty constant. Therefore, they don't have any stress about what happens. Your principle is more protected, and you can skim a dividend if you wish.

By the way, crypto does none of this. The only thing you can rely on is technical analysis, which is a star sign for investing.

 

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[MJ DeMarco]

Solana went from $8 to $110 in less than 365 days. If you had invested $100,000 when it was at $8, you would have become a millionaire when it reached $110.

Please tell me you can't be this blind.

In the investment world, you can cherry pick many stories like this, even in stocks.

It happens.

Problem is, you never know out of a universe of 100,000 investments, which 10 will do it.

If you had some special knowledge that allowed you to find and pick these investments—and at the right timing—you'd be the next Warren Buffet Tony Stark.

You're gambling.

And wasting your time.

 

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[Oso]

The only people that were able to turn bitcoin into quick wealth were the people that had coins when they went from being worth 0.02$ to 60,000$.

You missed the bandwagon. Will it happen again? Probably. But I doubt it'll be bitcoin again, and I doubt you'll have the necessary information required to adequately cash out on it.

So, pick the path with better odds and start a business.

Cheers.

 

[Oso]

• Getting BTC was actually harder in the early days. There were no major exchanges outside of something like Mt. Gox which eventually got hacked and coins stolen.

The amount of people that don't understand the history of Bitcoin is astounding. For instance, if you Google Bitcoin, pretty much every resource you'll find states it was created sometime around 2009, which is obviously a massive lie.

The entire crypto industry thrives off of the success of Bitcoin, but everyone ignores the insanely dark history that comes with it. If you were dealing in Bitcoin back then, your options were so insanely limited that it becomes that "if you know, you know" type of thing. And if you were dealing in Bitcoin back then, you were probably not the type of person most people want to associate with.

Cheers.

 

[Jon822]

same with any business, nothing is 100% sure in life. Only death ..and taxes !

You have to be a troll. Just because you don't have 100% control in business doesn't mean it has the same amount of control as investing in bitcoin. You've been on this forum for over 9 years and all you do is talk up crypto investing with nothing to show for it.

What's gonna happen?

You've been asked this question 3 times now and you ignore it every time.

 

[Maxkaz]

Solana went from $8 to $110 in less than 365 days. If you had invested $100,000 when it was at $8, you would have become a millionaire when it reached $110.

The problem here is there is no reliable way to know what will rise and what will fall. If there was some algorhytm - everyone would use it and that "Solana" would just be 110 from the start.

Also consider this. Where this 110 comes from? It comes from thousands of people thinking the same as you. Basically with each crypto there is a bunch of people putting their money in unnamed bags and those bags into the pile and then getting bags back in hopes to take the bag with bigger sum in it. No real value is created in the crypto market so it is ALWAYS a gamble. In order to win you need to find some garbage no-one needs, invest in it and hope that people around you will start thinking it is not garbage. And you take your mone from the pockets of those unlucky people who came to buy Solana when you decided to sell it. So basically the less stuff is in sight the higher the possible win. And basically it is robbing the less lucky.

Compare it with business. A bunch of people or even someone alone put some money/time/labor/assets into the business system. And this system starts to solve peoples` needs. So we had, say $100k in cash and now we have $100k in business assets and some value for other people created from the work of those assets. And this value transforms to cash for you. In order to start a successful business you need to find a need, which is usually loud and clear and no-one thinks of it as garbage. And the louder it is the higher the possible win.

Crypto is a minus-sum game - some win, most lose, net sum is minus smth.
Business is a plus-sum game - client wins, businessman wins, government wins, world has become richer. When everything is going up you do not need to be lucky to choose the next right "solana".

 

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[ZackerySprague]

MJ thinks you are wasting your time and delusional.

"Most people can't be told that the fire is hot; true understanding comes from getting burnt."

Go ahead my friend, step into the fire.

It's kinda hot in here.

 

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[Jon822]

Hilarious that people are defending crypto by using hindsight as their investment strategy. Now all you need to do is invent a time machine and you can capitalize on it. Personally, I think building a real business is easier than creating a time machine.

Also, a business that provides value to people only goes to zero when you quit. Can't say the same for other investments.

 

[Jon822]

This is why lotteries are played by millions.

The lottery is a tax on money chasers and people who don't understand mathematics.

 

[MJ DeMarco]

I invested in stocks for a while and thought the same way: "Ah, but stocks will bring me to the Fastlane" - nope. Never was, never will be & never should be.

I only invested in stocks because they should have an intrinsic value - crypto has no use except for the black market. But my experience of stocks vs business? I've found making a business to be so much more straightforward.

Perhaps if you're in microcap, you'd make a sizable return, but the main problem I had with investing was that you'd get into wraps with SO MANY factors for a silly 10% gain on your £1000. You'd do hours of research & predictions to have a factor come out of left field or the management being plain stupid.

Great things about businesses:

• you don't have to listen to whatever the FED farts, or what XYZ analyst is babbling about or the hundreds of sell-side analyst sheep. You don't go around in loops of "What's my diversification split?" or "Mmm, should I sell or buy because it's XYZ price??"
• Value creation is easier. You can implement new products/features/marketing/value skews and immediately generate value. A stock certificate sits there and looks pretty.
• Most importantly, you can provide FAR MORE VALUE & hence the return is greater. 20% is an AMAZING return in the stock market. That's great if you have +£1mil to play around with, but if you're starting, a £100 gain doesn't move the needle for Fastlane. Multibaggers are rare in stocks and are only maybe 2x/3x. A good business can easily do that.

The other gripe I have in stock investments is that they are riddled with schemes to fleece you. Crypto is far worse.

• Sell-side analysts are biased to put a buy rating on stocks because they benefit from your transactions.
• YouTubers sell their private investing community with no track record of actual returns.
• There are all sorts of crappy investing courses.
• There are a lot of CEOs who will serve up cool aid for you to drink & fleece you of your capital.

So not only do you have to sift through if a stock is good, but you have to search if the information you're receiving is good.

The only form of investing that makes sense to me is dividends with a lump sum.

• Pick a boring company (can manufacturers, soap detergents, real estate) - make sure an idiot can run it because, at some point, it likely will be one.
• Get a 5% dividend yield alongside some stock appreciation, and then have those companies pay you a salary from your lump sum.
• These companies are so dull that they will likely be pretty constant. Therefore, they don't have any stress about what happens. Your principle is more protected, and you can skim a dividend if you wish.

By the way, crypto does none of this. The only thing you can rely on is technical analysis, which is a star sign for investing.

My friend—you get it.

This is legendary to the point, I'm gonna copy it to its own thread and immediately mark gold.

 

[mikecarlooch]

@JustinBoshans

“To know what will happen in the future, study the past”??

Have you ever read Nassim Taleb’s books?

I’d say to do that and then see what you think about bitcoin.

I was an investor in it myself and lost lot of cash, speaking from experience.

 

[Maxkaz]

Yeah, it's really a shame.

The book should have covered other reliable wealth-building mechanisms, such as roulette, poker, and slot machines.

They meet every requirement mandated by CENTS, especially Control - since the future is highly predictable.

Yeah! And imagine how many banknotes are falling from peoples`wallets on the daily basis! Trillions opportunity stays untapped! Will grab a pair of running shoes and start running around looking for those crispy pieces of paper on the sidewalks (#fastlane_irony).

P.S. After some thought I believe that might be a conspiracy on MJ`s part. That guy sends us sheep to build some stupid CENTS business while he is making DOLLARS by running around and picking dropped cash.

 

[Maxkaz]

nope.. you do have to take in consideration your competition , market sentiment, location, your willingness to wait for a better deal, pressure from your other activities , risk of been screwed by the potential buyer and other 3rd parties involved in the deal, etc, etc

Ok, let us dive deeper in the term "price". As I see it, we are not really interested in the price in business or investment, only in the price spread. Whenever you do some business action, there is a price you pay and a price which customer pays. The difference between those is what makes your wallet heavier in the end.

In business if you make it smart, you count all the expenses you will take with your sale, than you add something extra what you consider satisfactory to that number and state that price. And the thing about price is that if you are not dumb - that extra will always be there. There are only two scenaries when it won`t - first if you screw up in some way and your payment for the deal rise. Second - if general economy (namely the currency you are working in) collapses to the point when your investment (which you pay after hands are shaken) will be higher than the price.

The thing here is that markets to some extend dictate that extra. And you can not go crazy about it or no clients will agree to your proposition. But still it is present and it is always positive for you in business if you are not dumb. The only risk you have here is that no-one will buy your product or services, but in this case you are not losing your investment because the deal is not closed and there is no investment on your part.

Now let`s look from this side to BTC investment. The problem with it is that it is not one deal but two. You buy them and you sell them and your extra is the price difference minus two transaction costs. Due to transaction costs when you buy BTC you are already down in money when you buy. And there is almost no way for you to be sure that you will get your profit. You can buy it for $1000 and WANT to sell it for $2000. You can even put a "take profit" stop order (making and maintaining of which will add to your payed commission) but you have NO influence on when it will go off - after an hour, a year, 50 years or ever. That is the absence of control. You control only your wishes here and you pay full price UPFRONT to see if it will go off.

 

[Kevin88660]

Que pense MJ du Bitcoin ? Dans « The Millionaire Fastlane », il est dommage que MJ ne discute pas (rapidement) des crypto-monnaies et de la manière de les utiliser pour créer de la richesse. Selon moi, cela peut être un moyen d’accumuler des richesses très rapidement. Si vous entrez avec 200 000 $ au bon moment (lorsque les prix s’effondrent), vous pouvez en sortir millionnaire. Je m'intéresse à la crypto depuis maintenant deux ans et j'ai acquis une certaine expérience. J'ai appris que la crypto suit des cycles de quatre ans, et mon objectif d'ici 2028 est de mettre de côté 150 000 $ (grâce à mon activité fastlane) afin que lorsque les prix s'effondrent, je puisse acheter au maximum, et pendant la course haussière, je vends. et récolter des bénéfices importants. Je crois que cette stratégie fonctionne. Robert Kiyosaki dit : « Pour savoir ce qui va se passer dans le futur, j'étudie le passé ». Je remarque qu'à chaque fois qu'il y a une faillite ou un événement majeur qui fait chuter la crypto (comme le crash de FTX, par exemple), tout le monde pense que c'est fini, et puis une course haussière arrive. Mon plan est donc de mettre de côté 150 000 à 200 000 dollars pour le prochain cycle. Dites-moi ce que vous en pensez et comment vous voyez le Bitcoin et les crypto-monnaies pour la création de richesse.

Warren Buffett on the Challenges of Picking Sector Winners

Buffett explains why it's difficult to pick winning companies in sectors like tech Continue reading...

finance.yahoo.com

"There's a lot of difference between making money and spotting a wonderful industry. You know, the two most important industries in the first half of this century in the United States -- in the world, probably -- were the auto industry and the airplane industry. Here you had these two discoveries, both in the first decade -- essentially in the first decade -- of the century. And if you'd foreseen, in 1905 or thereabouts, what the auto would do to the world, let alone this country, or what the airplane would do, you might have thought that it was a great way to get rich. But very, very few people got rich by being -- by riding the back of that auto industry...and the capital has been lost in that business, the bankruptcies. It's been a terrible business. It's been a marvelous industry. So you do not want to necessarily equate the prospects of growth for an industry with the prospects for growth in your own net worth by participating in it."

 

[Kevin88660]

I went through the fast lane again recently - am I thinking about this correctly?

FL wealth equation leverages business systems to fund your money systems. If holding Bitcoin was considered money it would be better to build the business system first and then funnel some percentage of that profit into the BTC money system?

Anyone that has experience with BTC should have experience with the taxes and holly sh*t that really complicates life keeping track of that stuff. If you earn staking rewards or yield farm rewards it just ramps complexity up even more. BTC is not anonymous, it’s a open ledger and unless you plan on never transacting in a major currency at some point you have to get the crypto though the on ramp where you connect to your bank account. In the states the IRS is hunting down people that didn’t pay 14$ in taxes owed ( I got a bill for 14$ last year no joke). Crypto has become corrupted once wallstreet got involved. My 2 cents is just stay away from it and focus on building business systems ( i went all in on crypto up to the 2021 bull run top and luckily sold near top after getting bad vibes on the whole ecosystem. )

SEC is also cracking down on almost all big name projects for being unregistered securities.

At the top with exception of btc, eth and dogecoin, no one is spared.

SEC has been waiting all the while for the pigs to grow before slaughtering them, to blackmail them with maximum fine possible.

 

[Anon45x4yB]

Que pense MJ du Bitcoin ? Dans « The Millionaire Fastlane », il est dommage que MJ ne discute pas (rapidement) des crypto-monnaies et de la manière de les utiliser pour créer de la richesse. Selon moi, cela peut être un moyen d’accumuler des richesses très rapidement. Si vous entrez avec 200 000 $ au bon moment (lorsque les prix s’effondrent), vous pouvez en sortir millionnaire. Je m'intéresse à la crypto depuis maintenant deux ans et j'ai acquis une certaine expérience. J'ai appris que la crypto suit des cycles de quatre ans, et mon objectif d'ici 2028 est de mettre de côté 150 000 $ (grâce à mon activité fastlane) afin que lorsque les prix s'effondrent, je puisse acheter au maximum, et pendant la course haussière, je vends. et récolter des bénéfices importants. Je crois que cette stratégie fonctionne. Robert Kiyosaki dit : « Pour savoir ce qui va se passer dans le futur, j'étudie le passé ». Je remarque qu'à chaque fois qu'il y a une faillite ou un événement majeur qui fait chuter la crypto (comme le crash de FTX, par exemple), tout le monde pense que c'est fini, et puis une course haussière arrive. Mon plan est donc de mettre de côté 150 000 à 200 000 dollars pour le prochain cycle. Dites-moi ce que vous en pensez et comment vous voyez le Bitcoin et les crypto-monnaies pour la création de richesse.

Ekip 667
Lis ceci
Post in thread 'Why stocks, bitcoin, and crypto will NEVER be Fastlane.'

 

[Wael]

Que pense MJ du Bitcoin ? Dans « The Millionaire Fastlane », il est dommage que MJ ne discute pas (rapidement) des crypto-monnaies et de la manière de les utiliser pour créer de la richesse. Selon moi, cela peut être un moyen d’accumuler des richesses très rapidement. Si vous entrez avec 200 000 $ au bon moment (lorsque les prix s’effondrent), vous pouvez en sortir millionnaire. Je m'intéresse à la crypto depuis maintenant deux ans et j'ai acquis une certaine expérience. J'ai appris que la crypto suit des cycles de quatre ans, et mon objectif d'ici 2028 est de mettre de côté 150 000 $ (grâce à mon activité fastlane) afin que lorsque les prix s'effondrent, je puisse acheter au maximum, et pendant la course haussière, je vends. et récolter des bénéfices importants. Je crois que cette stratégie fonctionne. Robert Kiyosaki dit : « Pour savoir ce qui va se passer dans le futur, j'étudie le passé ». Je remarque qu'à chaque fois qu'il y a une faillite ou un événement majeur qui fait chuter la crypto (comme le crash de FTX, par exemple), tout le monde pense que c'est fini, et puis une course haussière arrive. Mon plan est donc de mettre de côté 150 000 à 200 000 dollars pour le prochain cycle. Dites-moi ce que vous en pensez et comment vous voyez le Bitcoin et les crypto-monnaies pour la création de richesse.

TRANSLATION: "What does MJ think of Bitcoin? In “The Millionaire Fastlane ,” it’s a shame that MJ doesn’t (quickly) discuss cryptocurrencies and how to use them to build wealth. In my opinion, this can be a way to accumulate wealth very quickly. If you go in with $200,000 at the right time (when prices are crashing), you can come out a millionaire. I have been interested in crypto for two years now and have gained some experience. I learned that crypto follows four-year cycles, and my goal by 2028 is to set aside $150,000 (through my fastlane business) so that when prices crash, I can buy as much as possible , and during the bull run, I sell. and reap significant profits. I believe this strategy works. Robert Kiyosaki says: “To know what will happen in the future, I study the past.” I notice that every time there is a bankruptcy or a major event that drops crypto (like the FTX crash, for example), everyone thinks it's over, and then a bull run happens . So my plan is to set aside $150,000 to $200,000 for the next cycle. Let me know what you think and how you see Bitcoin and cryptocurrencies for wealth creation."

 

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[JustinBoshans]

TRANSLATION: "What does MJ think of Bitcoin? In “The Millionaire Fastlane ,” it’s a shame that MJ doesn’t (quickly) discuss cryptocurrencies and how to use them to build wealth. In my opinion, this can be a way to accumulate wealth very quickly. If you go in with $200,000 at the right time (when prices are crashing), you can come out a millionaire. I have been interested in crypto for two years now and have gained some experience. I learned that crypto follows four-year cycles, and my goal by 2028 is to set aside $150,000 (through my fastlane business) so that when prices crash, I can buy as much as possible , and during the bull run, I sell. and reap significant profits. I believe this strategy works. Robert Kiyosaki says: “To know what will happen in the future, I study the past.” I notice that every time there is a bankruptcy or a major event that drops crypto (like the FTX crash, for example), everyone thinks it's over, and then a bull run happens . So my plan is to set aside $150,000 to $200,000 for the next cycle. Let me know what you think and how you see Bitcoin and cryptocurrencies for wealth creation."

I think you need to read the book again. A big part of what the book teaches is to build wealth through a CENTS business and then take that large stockpile of cash and invest it into "safe" things to generate passive income. The book is highly against growing wealth through investing.

The book does mention putting money into the F*ck you pot and doing whatever you want with it. This could include investments into volatile things like crypto.

 

[Iron Wolf]

@JustinBoshans

“To know what will happen in the future, study the past”??

Have you ever read Nassim Taleb’s books?

I’d say to do that and then see what you think about bitcoin.

I was an investor in it myself and lost lot of cash, speaking from experience.

How much did you lose?

 

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[Mr. Tycoon]

I was an investor in it myself and lost lot of cash, speaking from experience.

nobody, ever lost money in btc as an investor.

 

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[Mr. Tycoon]

You have absolutely 0 influence on the price of BTC. It could be worth $1M USD in 5 years or 0.

same with any business, nothing is 100% sure in life. Only death ..and taxes !

 

[Maxkaz]

same with any business, nothing is 100% sure in life. Only death ..and taxes !

In business you do have influence on the price. You do state it in the end. Price can be influenced by the market, by customer’s expectations and so on, but it is you who eventually decide - will you do/sell it for this money or you don’t. It is not 100% under your control, but way above BTC or any other currency and most stocks

 

[Mr. Tycoon]

In business you do have influence on the price.

nope.. you do have to take in consideration your competition , market sentiment, location, your willingness to wait for a better deal, pressure from your other activities , risk of been screwed by the potential buyer and other 3rd parties involved in the deal, etc, etc

 

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