Scott on Nostr: When I started out on my self-directed journey to better understand personal finance ...
When I started out on my self-directed journey to better understand personal finance about 6 years ago (admittedly late in the game), I quickly came to align with the “Financial Independence Retire Early” #FIRE movement.
What I most appreciated is that the FIRE movement provides a narrative and lifestyle framework by which to live and consider one’s relationship to money. In #Bitcoin parlance, that framework is “low time preference”. It includes learning how to progressively spend less than one earns; how to find everyday life hacks; and, ultimately, how to make the most scarce resource of all (one’s time) the goal of living and investing via early retirement. Live life, make life beautiful, one could say.
Fast forward. I’m now four years into my journey with #Bitcoin #BTC and I see a clear alignment between FIRE and Bitcoin on multiple levels. These include: smart investing (longer-term ROI); low time preference; and, individual sovereignty over one’s resources, decisions and time. It couldn’t be more glaring.
It therefore puzzles me that more FIRE adherents and content creators have not tuned into the importance of Bitcoin. My theory is that FIRE has established a firm foothold already and is heavily influenced by experiences from the 40+ year history of “how to” in a low interest rates, with emphasis on housing financialization and dividend investing.
I believe that the core values of low time preference and self-sovereignty remain intact, but that the majority of FIRE adherents have fallen prey to the common misperception of Bitcoin as a “risky and speculative” asset and have conflated Bitcoin and crypto.
At some point, this will change and a sufficient number of FIRE adherents will come to appreciate the numerous layers of alignment between FIRE and Bitcoin. That essentially reflects my own personal finance thesis/position related to Bitcoin (BTC).
Now, when some of these FIRE adherents who ALSO care about human rights, fairness, global development and generally building a better world come to understand the macro political, economic and civilizational importance of Bitcoin…watch out!
If you are a FIRE adherent but haven’t yet begun studying Bitcoin, I highly recommend you take that step. It’ll take some time and work. It can be a bit disorienting at times. But you’re used to that, I assume, if you’ve already taken steps to explore and implement a FIRE plan.
Best wishes, and one love y’all!
What I most appreciated is that the FIRE movement provides a narrative and lifestyle framework by which to live and consider one’s relationship to money. In #Bitcoin parlance, that framework is “low time preference”. It includes learning how to progressively spend less than one earns; how to find everyday life hacks; and, ultimately, how to make the most scarce resource of all (one’s time) the goal of living and investing via early retirement. Live life, make life beautiful, one could say.
Fast forward. I’m now four years into my journey with #Bitcoin #BTC and I see a clear alignment between FIRE and Bitcoin on multiple levels. These include: smart investing (longer-term ROI); low time preference; and, individual sovereignty over one’s resources, decisions and time. It couldn’t be more glaring.
It therefore puzzles me that more FIRE adherents and content creators have not tuned into the importance of Bitcoin. My theory is that FIRE has established a firm foothold already and is heavily influenced by experiences from the 40+ year history of “how to” in a low interest rates, with emphasis on housing financialization and dividend investing.
I believe that the core values of low time preference and self-sovereignty remain intact, but that the majority of FIRE adherents have fallen prey to the common misperception of Bitcoin as a “risky and speculative” asset and have conflated Bitcoin and crypto.
At some point, this will change and a sufficient number of FIRE adherents will come to appreciate the numerous layers of alignment between FIRE and Bitcoin. That essentially reflects my own personal finance thesis/position related to Bitcoin (BTC).
Now, when some of these FIRE adherents who ALSO care about human rights, fairness, global development and generally building a better world come to understand the macro political, economic and civilizational importance of Bitcoin…watch out!
If you are a FIRE adherent but haven’t yet begun studying Bitcoin, I highly recommend you take that step. It’ll take some time and work. It can be a bit disorienting at times. But you’re used to that, I assume, if you’ve already taken steps to explore and implement a FIRE plan.
Best wishes, and one love y’all!